Wedges and trendline breaks

[pocrel]

selling cable short here at the 15800 level stop just above the high looks like its running out of steam

also watching wti (crude) for a short waiting for the 4hour bar to close to see if it gives me a sign it looks good at the moment

order pending on cable 15798 just below the low of the previous hourly bar

 

[pocrel]

well just waking up and the markets have gone the other way cancelled order on cable but now looking to short it again at these levels right on the 61.8% now

also crude has flown up today so no trade there for me

come cable give me an entry

 

[pocrel]

shorting crude based on hourly pin bar order pending 8112

also short cable now at 15890 based on a small pin (not sure if its very valid) but very tight stop so worth the risk 20 point risk

 

[pocrel]

managed to close out cable this morning for 20 lucky as i have just looked at it and it shooting up as for crude never kicked in

missed an entry on eur/aud pin bar into support

 

[pocrel]

AUDUSD daily

I am not too sure how you would draw this.... however, it is interesting because there is a double top and a significant fib line, those together indicate to me that there will be a sizable move south soon

Maybe I am barking up the wrong tree...........?

BB this was a great chart to look at, i had already shorted this on the pin bar it went 100 point to the good

the double top is well worth a short with a tight stop did nt work but if it did it could have gone a longway

you could have waited for a sign of a reversal depends on how you enter the market what is you entry criteria?

me i would have waited for another pin on either the 1hour 4 hour chart for an entry

 

[brettus]

BB this was a great chart to look at, i had already shorted this on the pin bar it went 100 point to the good

the double top is well worth a short with a tight stop did nt work but if it did it could have gone a longway

you could have waited for a sign of a reversal depends on how you enter the market what is you entry criteria?

me i would have waited for another pin on either the 1hour 4 hour chart for an entry

GBPUSD is looking as bid as ever and hear the street saying 1.6!!, but theres a massive fibonacci level here, and i'm pretty keen on a reversal, but we will see.

 

[pocrel]

GBPUSD is looking as bid as ever and hear the street saying 1.6!!, but theres a massive fibonacci level here, and i'm pretty keen on a reversal, but we will see.

its had some run up over the last few days so there must be some profit taking at some stage,

i dont see anything to suggest that yet so sitting on my hands today just like yesterday

missed the3 eur/aud trade its up 60 points now

did you pull that order yesterday on cable at 15820 brettus??

 

[brettus]

its had some run up over the last few days so there must be some profit taking at some stage,

i dont see anything to suggest that yet so sitting on my hands today just like yesterday

missed the3 eur/aud trade its up 60 points now

did you pull that order yesterday on cable at 15820 brettus??

Nope. Got stopped out. I think it's hampering my decisions now. I'm just looking for a reason to short it. Stops just got taken out at 1.5970, so i wouldnt be suprised if it rallies again! British bank results are just making the GBP rally like crazy.

 

[pocrel]

well what a boring week , can barely find anything to trade so time to sit on your hands and today been non farm better to stay away from the market

the good news is i have been back testing a strategy and i have turn 10 grand into 25 grand so looking very promising

when testing is done i will reveal all

the only thing on my radar today is usd/cad


we have got a pin into support and we are at a fib level so any break north of the pin should be taken with stop below pin

hope next week is better

 

[pocrel]

well what a boring week , can barely find anything to trade so time to sit on your hands and today been non farm better to stay away from the market

the good news is i have been back testing a strategy and i have turn 10 grand into 25 grand so looking very promising

when testing is done i will reveal all

the only thing on my radar today is usd/cad
View attachment 88760

we have got a pin into support and we are at a fib level so any break north of the pin should be taken with stop below pin

hope next week is better

Well the cad is flying up, have nt taken it due to non farm day but i think this was a great setup

 

[pocrel]

just demoing this cad trade today if you had taken it you would be up 100 points now

i would have my stoped moved to the 23% line by now lokin gin 50 points profit at least

happy days for the rest of the free trade

 

[pocrel]

going to be watching wti crude very closely as if this weekly candle closes like this it is telling me crude is a short same set up as the cad



:clap:

 

[pocrel]

going to be watching wti crude very closely as if this weekly candle closes like this it is telling me crude is a short same set up as the cad

View attachment 88794

:clap:

morning guys just back from south africa so have nt been online for the week but what a week its been, crude flying at the moment

Crude now up nearly 200 hundred points


also want to carry on showing the cad chart

have a look where this is now



up 300 hunderd points, would be taking profit here

Cable then made a reversal signal at the 61% fib level me and bretus were watching this all last week, just sit and wait and then when you see that reversal bar time to jump in

200 pips profit

did you take it brettus?

 

[pocrel]

second chance at the cheery here, really should nt but buying usd/jpy here

it has made a reversal bar at the longterm support, seee the chart stop below the pin bar

 

[pocrel]

second chance at the cheery here, really should nt but buying usd/jpy here

it has made a reversal bar at the longterm support, seee the chart stop below the pin bar

View attachment 89228

ok trade going well taking half off here as near the 38 fib mark, that 50 points banked on a half

now moving stop to 23% level and leaving other half run to 50 % line or further

 

[pocrel]

my other half on the usd/jpy still hanging in there

just looking at the aud/jpy




nice powerful breakout of the lower trend line and we have a reversal bar the moment if that look like that tonight then an order should be placed at the bottom of it to get in short

 

[pocrel]

ok trade going well taking half off here as near the 38 fib mark, that 50 points banked on a half

now moving stop to 23% level and leaving other half run to 50 % line or further

View attachment 89234

Taking profit here on my other half so that is +90 on the second half of the trade

happy days

sorry reason for exit is its hit the 50 % fib line

 

[pocrel]

going to be watching wti crude very closely as if this weekly candle closes like this it is telling me crude is a short same set up as the cad

View attachment 88794

:clap:

+380 point trade on crude

just hit the 50 % fib retracement

 

[pocrel]

my other half on the usd/jpy still hanging in there

just looking at the aud/jpy

View attachment 89292


nice powerful breakout of the lower trend line and we have a reversal bar the moment if that look like that tonight then an order should be placed at the bottom of it to get in short

looking at a nice pattern from this aud/jpy pair, placing an order to sell this under the daily pin bar low stop above the high lets hope it oves down next week

reasons 1/ breakout pull back of a trend line
2/ fib levels
3/ pin bar into the resitence area so support becoming resitence

 

[pocrel]

looking at a nice pattern from this aud/jpy pair, placing an order to sell this under the daily pin bar low stop above the high lets hope it oves down next week

reasons 1/ breakout pull back of a trend line
2/ fib levels
3/ pin bar into the resitence area so support becoming resitence