Some of my trades, forecasts

[4xpipcounter]

Gbp/usd

Current price is 1.4800. I am looking for possibly one more leg up on the correction to the top of the daily cloud at 1.4888. The tenken and kijun has levelled about 300 points below the top of the cloud, so it would seem that would be a good area to enter for a reversal back in the trend. That would be in perfect tandem with the DR2 at 1.4887 and equate to a slight spike over the top of the weekly cloud at 1.4864.

 

[4xpipcounter]

USD/CHF trade

Current price is 1.1337. Went short to meet the objective that it fell a little short on yesterday. The objective is 1.1284, and the low was 1.1292.
The next point at 1.1166 is also on my radar.
I was a little late on this post. As soon as I entered, price took off in my favor.

 

[4xpipcounter]

Eur/chf

It would be ideal to see tis pair find its way to 1.3895, which is my MS2. It could be a very strong move UP from there. At the very least, an 81-pip bounce will be forthcoming from that point. That would equate 1/2 the distance towards the MS1. That is just the nature of my S&R's. In the event of a strong trend and my reference point is taken out, then we get what I call a continuation. Once the next point is hit, then it usually makes a full move back to the point of the continuation. I.e--Start off at the MP, then it blows out the MS1, and then heads to the MS2, the bounce from there would take it back to the MS1. In the case of the EUR/CHF, the latter scenario will not prevail.
I do encourage anyone to plot my points and find out.

 

[4xpipcounter]

Gbp/jpy

Current price is 135.44. My WR2 at 136.92 should be on the radar. The MR1 at 137.49 seems to be an ideal entry for a short to return to the DOWN. That is also the circa area of the bottom of the daily cloud. Once back in the DOWN, the pair will be eyeing the recent low established at 127.62, and then to rechallenge the all-time low at 118.81. As long as the MR1 is containment, then the MP at 132.50 is on the radar before the month is expired, and the MS1 at 127.51 could also be hit.

 

[4xpipcounter]

Additional personal update

I'm kind of forced to play things a little conservative with my entries for the time being. This is because of having 4 trades that have backed up on me a little. I'm not one that likes to be addicted to just taking a position in the market. I don't get excited when something might go against me, and I don't get excited when I get a huge win. I just like to stay even-keeled (zzzz). The USD/CHF has been a pet project of mine of late only because of the strong obviations of the corrective DOWN it is in. I like to wait for each daily pullback, then find the entry and jump in.
Having said all that. I like to stay sharp with forecasting, because once the kiwi and aussie behave themselves, it will be obvious I will be looking for addiitonal entries. Also, being put on the spot helps me as a trader. This is why I like sharing in a large venue. That is my ulterior motive in doing this.

 

[4xpipcounter]

I know I am being over-conservative here, but I just closed my trade on this pair at 1.1292. I've got cluster support at 1.1284, and I am getting ready to rap it up for the day. The entry was 1.1337 (one point from today's peak), so +45 pips is not bad before bed.

 

[4xpipcounter]

MY S&R's in action & GBP/USD trade

I attached a 1-hour chart of the GBP/USD to show the effectiveness of my S&R's.
The 1st encircled area represents the bounce off the WR2. Notice the strong run up, hits the red line (Red is my weekly.), then bounces strongly off it. The thing to count on (This is not hindsight.) is when you get a continuation through the 1st level, such as we had gotten throguh WR1, then you subtract the difference of the two levels, and that will be your retracement. In this case, the furtherest point on the other side of the WR2 is 1.4808, and the low on the reversal was 1.4682, which covered 126 pips. the difference between WR1 and WR2 is 113 .
The second encircled area represnts price action as it bounced off my DS2 (dailies are the blue lines). The thing is that action took place yesterday, and that point is today's dailies. My S&R's are not figured on past price action, but there is a formula involved, so it is quite remarkable how my formula can pick up on the previous increment's price actions.
The 3rd encircled area brings us right up to date. The UP is having a strruggle, and it is because of the MR1 at 1.4842, and the DR1 at 1.4845. At this time of the day volume gets real slow, and the day's containment will be seen at this level, and most likely throughout the beginning of the Japanese session. This type of opportunity makes for some trading opportunities that make for some easy pips at the slower times of the day.
BTW, as I'm writing this, I noticed price had azlready dropped to 1.4817. I entered the trade at the MR1. I'll ride it down a little more, then just collect the pips

 

[4xpipcounter]

GBP/USD update

The pair is going to drop lower before its next move towards 1.4888 but I pulled it out at 1.4823 for +19 pips. The pips weren't many, but it just shows the reliability of the S&R's.
As it looks now, 1.4888 should be containment, and if it is not, then it could be on to 1.5273.

 

[pssonice]

"... the effectiveness of my S&R's" cant be measured, none of your trades is given...

just-in-time

 

[4xpipcounter]

You better look deeper. My trades are not hard to find in this thread, along with the updates.
Pssonice, I haven't been on this site for too long, but one thing is clearly indicative, and that is you are one of the veteran members that likes to run around with nothing much good to say about anything or anybody. With me, that's fine, because by your very comment you show that is your motive. Start with page 1 and go up to thsi current post and try and tell me none of my trades are given.
Get to me and tell me I don't know what I am talking about.
BTW, in another thread, I also asked you if you post your trades before the event. I got no repsonse. I'll still pose the same question to you.

 

[4xpipcounter]

Re: "... the effectiveness of my S&R's" cant be measured, none of your trades is give

I just read in another thread that you don't like my thread because you believe it is not transparent. That's okay. I'll never hold that against you. I never thought everyone would like it. OTOH, there are a few that do. Just like trading--win some, lose some.
BTW, trades have to be JIT. Unless you have an entry trade, how else are you going to do it?
Another thing is that my methodology makes me pips, and lots of them. Along these lines, it is not necessary for me to be apologetic. When you really look at it, the bottom line is be a consistent winner.
The "effectiveness of my S&R's" can be proven, even though I don't put in an effort to do so. The chart is just there to show the past history. The winning trade I had came off of what was seen on the far right. That was before the move. FYI, cable is still moving downward since bouncing off my MR1. That, my friend, is called effectiveness.
Keep posting. I got the goods to back me up. This arrow shoots straight.
If anyone else has a comment or opinion along these lines, I'd like to hear it.

just-in-time

 

[4xpipcounter]

Re: "... the effectiveness of my S&R's" cant be measured, none of your trades is give

I'm loving this! At the time of the post, price was 1.4837, which was only 5 points under my MR1. I boldly mentioned, "This type of opportunity makes for some trading opportunities that make for some easy pips at the slower times of the day." A look at the new graph shows this is just 3 hours later and the current price is 1.4782. In effective!? C'mon, Pssonice. Please tell me how you can logically say that my S&R's are ineffective.

just-in-time

 

[4xpipcounter]

GBP/USD update

My MR1 was so effective that I missed the boat. I thought we would be headed to 1,4888.This should mark the official reversal back into the DOWN. 1.4673 should be initial support as that is a return to my WR1 and the bottom of the hourly cloud.

 

[4xpipcounter]

Eur/gbp--s

I just went short on this pair at .8347. There is so much resistance in the .8354--59 area. I don't know exactly how far I'll ride this DOWN. I'll just have to see how momentous the ride on this initial leg will be.

 

[JahDave]

Hi 4x. Nice thread. I think this pair may have a some room to the downside, but look at this nice double bottom.

 

[4xpipcounter]

Dave, thanks! You have a point. I was thinking this is probably going to be the last leg DOWN for this pair, and that double bottom you so astutely observed may be taken out. It's hard to tell right now, but I think the fall could be finished around .8150
I'm the conservative type, though. I don't ride it out right to the end, but I do believe this is going to yield some nice easy pips, and with next to no pullback.

Hi 4x. Nice thread. I think this pair may have a some room to the downside, but look at this nice double bottom.

 

[4xpipcounter]

Re: GBP/USD update

I know this gets pretty insane when you start replying to yourself, but that's the way it is at times. The bounce off my MR1 has more than fulfilled a bounce expectancy. I was originally counting on my WR1 to be hit, then that would have put the candle action outside the hourly cloud. The debate I'm having concerning the pair is that it also stopped at the bottom of the cloud, and it could be using this slow time to let the inidcators catch up on the downside. That being the case, then it could be on to the 1.4888 level that I have been alluding to. Regardless, at least for right now, I'm avoiding the pair and letting things take it's due course.
The clean hits on your objectives sure makes things easier .

My MR1 was so effective that I missed the boat. I thought we would be headed to 1,4888.This should mark the official reversal back into the DOWN. 1.4673 should be initial support as that is a return to my WR1 and the bottom of the hourly cloud.

 

[guptabhk]

hi Paul,
this is Hari krishna
seems nice discussion going on , I think next week onwards if u post the S/R levels of weekly, monthly for major pairs and then during discussion when u mention the levels , it can be easily visualised and other also can understand how accurate your levels are.
to day it seems gbpjpy/euro/crude may try their downside in my opinion

 

[4xpipcounter]

EUR/GBP update

Because of lack of short term follow-thru under my cluster R, which will turn into support, I feel dubious the pair is ready for the march back to the .82's. I took it out for -9 pips.
That makes my 5th losing trade of the month, and today's losing trade is my 2nd largest losing trade of the month. I've made a total of 26 trades on the month.
Once again, and rest assured, that's just some statistics. It is not a buildup for a sales pitch.

 

[4xpipcounter]

Hari, good to see you!
Okay! I'll have to wait until the bell rings for the new week in order to post the weeklies. I don't know if you remember Mahesh, but he gave me a program that automatically plots my S&R's on the chart. The funny thing is his buddy designed the program, but still can't figure it out.
There has been some really volatile activity going on because through the eyes of my S&R's and my perception of the stochastics, the legs are not fully extended, and that is the problem.
I've really been keeping my eye on the euro. I believe there are some far more reaching implications concerning it. The most outstanding cross in my mind is the EUR/AUD. It's freaky, but I got 1.7525 on my radar for it.
Again, good to hear from you Hari. I like it here on this site because of all the additional forex exposure. There are some really good threads here.

hi Paul,
this is Hari krishna
seems nice discussion going on , I think next week onwards if u post the S/R levels of weekly, monthly for major pairs and then during discussion when u mention the levels , it can be easily visualised and other also can understand how accurate your levels are.
to day it seems gbpjpy/euro/crude may try their downside in my opinion