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Thread: Pattern/Price Action Trades

  1. #1
    My major trading egy is here if you are interested I'm keeping a journal for my own sake. I hope to have a valuable critique to create my trading easier. I will post explanations and diagr too to assist me review and for people who choose to read my own thread.

    First commerce is sadly a loser. AUD/USD, I clicked on a pullback in what I believed was the break of a 1-2-3 pattern and even though she had been in for 15 pips profit at once, she touch me at the conclusion. I had been playing off the rebound the major line of resistance of an up sloping triangle. I traded smartly though because I lower my position size after she broke the little downtrendline, consequently reducing my overall reduction. Waiting to see whether she breaks the upper resistance line on the weekly.

  2. #2
    Quote Originally Posted by ;
    Second Trade, A winner, EUR/JPY served up a wonderful pattern. A head and shoulders bounce off a fibo retracement, while on a 10 year uptrend. I don't trade the NFP, that for me is betting and I have lost enough money on it to understand I'd better stay out and look for a tamer item to trade. I typically won't trade that, even if I see a pattern. Here's the EUR/JPY trade.
    I think this is quite a well thought out egy. I like the idea of entering at the first sign of a reaction to the left shoulder area. I like it since it's a risk to reward ratio. Adding to the transaction when the neckline breaks is another great move.

  3. #3
    EUR/AUD seems poised to fall significantly. She appears to have shaped a Bear Penant with a 5 wave elliot count inside of it. That says to me personally correction time in other words so far as the waves go. She is also hovering above a 1 month trendline, which in case she breaks and pullsback, and shuts below we are going to have great entry. One thing I would like to point out is, if she does break I have a line of resistance just above the trendline and just to make matters better I may enter on a hourly pullback of the break instead of a daily pullback. . .we'll see. I love to see small humps above the trendline just before it breaks, it give me a fantastic idea of where to place my stoploss. Currently there's some nice confluence at the top of the 5 wave of the elliot wave that suggests down more movement. We have good downward momentum, a head and shoulders pattern and fibo/trendline confluence in the reversal point. If this somehow goes according to plan, then I'm looking for a transfer to 1.6100 - 1.6000. We'll see. For now here is the chart: I'm sitting back and waiting!!!!

  4. #4
    MY favorite thing to exchange is a 1-2-3 and that I missed this one about the GBP/JPY. I fear that this pair honestly so I am reluctant to exchange it, but she gave perfect action today, would have been some simple profits, by the way, the spike you see at the two stage didn't actually happen, its not provided it shows.

  5. #5
    USD/CAD is looking like a great prospect. She's broken a great occasion, up a 4 year Trendline. She's formed a 1-2-3 based on all my rules, and according to my own trading egy she should be led to 1.1800. There's also that the November 2004 low of 1.1715 which adds to the magnestism of the area. Will be monitoring this pair for additional progress.

  6. #6
    Seems might be a thread. Hope to be able to contribute to it and learn from it.

  7. #7
    These are some rather good looking technical observations. I have subscribed to your own thread and look forward to discussing your ideas. It's also nice for you to examine a some pairs that I do not. I am able to obtain some insight on these new horizons. Good stuff.

  8. #8
    Thread looks great, I'm reading it today, and taking a look at the charts together with your submitted charts. Please show some more examples and which currencies your actually watching. Thanks.


  9. #9
    Quote Originally Posted by ;
    These are some quite good looking specialized observations. I look forward to sharing your ideas and have subscribed to a thread. It is also nice that you examine a some pairs which I don't. I can gain some insight on these new horizons. Fantastic stuff.
    I can't take the credit for the , I learnt it in Phile Newton in He is the mastermind. His trading design is easy, and absolute common some way. That having been said, I expect to continue to make great trades using what I've learnt.

  10. #10
    Quote Originally Posted by ;
    Thread seems great, I'm reading it and looking at the charts along with your posted charts. Please show some more examples and then currencies your actually watching. Thanks.

    I have many instances, will post them tomorrow

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