Some of my forecasts
- Thread starter 4xpipcounter
- Start date
- Status
Uploaded with ImageShack.us
I wanted to post this chart just for the benefit of showing what is going on with regards to price action. This same thing can be applied to all charts the trader is considering to trade.
It's the 4-hour of the CHF/JPY.
1. We see the trip south down to the current level.
2. The trip south ended with a base being formed.
3. As per the forecast, containment is the WS1, and w can see during the London session the price was stopped 4 pips above the WS1.
4. TL was formed, and we have a 1-2-3 formation. 1 at 83.06, 2 at 84.97, 3 at 83.41. As long as that can be anticipated, a position could be taken anywhere at current level. If it cannot, then, wait for the break, then the pullback, and then take a position.
Dax
This market is about to have a slight intraday pullback. The circa area of 5300 should be reached, and then the UP should resume.
MT, the weekly tenken at 6123 should be reached, and possibly the kijun at 6294. Longer term, this market still has a ways to go south.
BTW, I'm looking for a trade on this pair. This is the first time I have ever looked outside of spot forex.
I opened a new account today with a broker that features DAX and a few other goodies.
This market is about to have a slight intraday pullback. The circa area of 5300 should be reached, and then the UP should resume.
MT, the weekly tenken at 6123 should be reached, and possibly the kijun at 6294. Longer term, this market still has a ways to go south.
BTW, I'm looking for a trade on this pair. This is the first time I have ever looked outside of spot forex.
I opened a new account today with a broker that features DAX and a few other goodies.
Re: Dax
Uploaded with ImageShack.us
I'll admit if I was around to trade this market, I would have attempted a scalp going south. The thing that stopped me is this market opens 2:00 in the morning my time.
Any rate, this compass is still due north. Very strong R along the way will be the bottom of the daily cloud at 6047. The cloud is dropping, so the level might drop a little by the time it arrives.
Uploaded with ImageShack.us
I'll admit if I was around to trade this market, I would have attempted a scalp going south. The thing that stopped me is this market opens 2:00 in the morning my time.
Any rate, this compass is still due north. Very strong R along the way will be the bottom of the daily cloud at 6047. The cloud is dropping, so the level might drop a little by the time it arrives.
Last edited:
CHF/JPY price action II
Uploaded with ImageShack.us
I was talking about this exact move in the previous post concerning this pair. This shows the strong move that blew out the 1-2-3 top.
I post this sort of thing that helps in interpreting the move before it happens. After all, this is what trading decisions are based on is knowing (key word) the move before it happens. Trading the top at 85.09 makes pips, but trading at 84.27 when you know it is going to happen makes even more pips.
As mentioned before, the weekly is showing this market is headed much higher, but is only a correction within the larger trend.
Uploaded with ImageShack.us
I was talking about this exact move in the previous post concerning this pair. This shows the strong move that blew out the 1-2-3 top.
I post this sort of thing that helps in interpreting the move before it happens. After all, this is what trading decisions are based on is knowing (key word) the move before it happens. Trading the top at 85.09 makes pips, but trading at 84.27 when you know it is going to happen makes even more pips.
As mentioned before, the weekly is showing this market is headed much higher, but is only a correction within the larger trend.
Gbp/usd
Uploaded with ImageShack.us
This chart is as obvious as anything gets. This is like walking around with a reversal target painted right on your forehead:
1. WR2 was hit.
2. The bottom of the 4-hour bearish cloud was hit.
3. The cloud is very bearish as extended into the future.
4. The upper SD channel extreme level was hit.
5. High TF's, such as the monthly and weekly are still weighing down heavy.
This could mark the turning point back to 1.5325, which is now the bottom of the weekly cloud. 1.5325 was hit last week, but the bottom was 1.5312, so the bottom has not been hit yet.
Uploaded with ImageShack.us
This chart is as obvious as anything gets. This is like walking around with a reversal target painted right on your forehead:
1. WR2 was hit.
2. The bottom of the 4-hour bearish cloud was hit.
3. The cloud is very bearish as extended into the future.
4. The upper SD channel extreme level was hit.
5. High TF's, such as the monthly and weekly are still weighing down heavy.
This could mark the turning point back to 1.5325, which is now the bottom of the weekly cloud. 1.5325 was hit last week, but the bottom was 1.5312, so the bottom has not been hit yet.
USD crosses
Either a more meaningful correction has already begun for the USD crosses with the Euro, cable. Aussie, kiwi, and loonie, or they will all begin next week. Formidable bases have been formed on all pairs at extreme levels, and they are ready to reverse.
I reserve saying the same for the Swissy because I was waiting for a minimum of .9274 to be hit before confirmation.
Either a more meaningful correction has already begun for the USD crosses with the Euro, cable. Aussie, kiwi, and loonie, or they will all begin next week. Formidable bases have been formed on all pairs at extreme levels, and they are ready to reverse.
I reserve saying the same for the Swissy because I was waiting for a minimum of .9274 to be hit before confirmation.
More on the USD
The Weekly Forecast promises to be interesting. Key reversals are taking place in the USD markets. The markets where the USD is the secondary currency is headed higher, and the primary is headed lower.
Many of the crosses have huge implications.
I've got a busy weekend planned, but I want to feature a few extra pairs in my forecast, given as much time as I can muster. Feel free to pass on any markets of particular interest.
EUR/USD: There figures to be a pullback to the WR1 at 1.3610, and then the new UP continue back to the WR2 at 1.3723, and then possibly back to the MS3 at 1.3875.
GBP/USD: The top of the 4-hour cloud at 1.5596 is containment before a move much higher.
Those are just a couple of examples of what is about to unfold.
The Weekly Forecast promises to be interesting. Key reversals are taking place in the USD markets. The markets where the USD is the secondary currency is headed higher, and the primary is headed lower.
Many of the crosses have huge implications.
I've got a busy weekend planned, but I want to feature a few extra pairs in my forecast, given as much time as I can muster. Feel free to pass on any markets of particular interest.
EUR/USD: There figures to be a pullback to the WR1 at 1.3610, and then the new UP continue back to the WR2 at 1.3723, and then possibly back to the MS3 at 1.3875.
GBP/USD: The top of the 4-hour cloud at 1.5596 is containment before a move much higher.
Those are just a couple of examples of what is about to unfold.
Hi Paul,
Thank you for the detailed analysis on all the pairs.. I would like to ask you more details on other parts of trading than the actual analysis..
Money Management & Position Sizing techniques.. Can you give a hindsight of it.. I find these things to be very crucial in successful trading..
Regards
Raj
Thank you for the detailed analysis on all the pairs.. I would like to ask you more details on other parts of trading than the actual analysis..
Money Management & Position Sizing techniques.. Can you give a hindsight of it.. I find these things to be very crucial in successful trading..
Regards
Raj
Rajesh, I agree with you 100%. I have always said that trading is so open-ended as far as the individual is concerned. I'm talking about the techniques, approaches, how long someone likes to hold on to a trade, etc. There are about three things that are no room for opinion, and if you don't have them you are bound to fail in trading, and they are:
1. Methodology
2. Money management
3. Mind discipline
Having said that, when you ask about position size and money management you should use, that is a personal thing. You might like to scalp, daytrade, or even position trade. All those tenures of trades may require different size stops and even position size.
Other types of trades could have a backup plan to it. As an example someone may take a trade thinking the trade is going to go this direction today, but something happens. A look at the analysis for the bigger picture shows that market will still be there over the longer haul, so they hang on to it, and with the longer picture in view someone takes a position size in accordance with that view.
Personally, I am one to add to my position as time goes on. if it goes against me. Most people do not have the stomach to do that. This is where the full confidence in my S&R's as well as other aspects of my methodology come in at.
The one biggest trade I ever had was in the latter part of 2008. It went against me of 300 pips before it turned in my favor. When it was over, it was +2,000 pips. My position size was in accordance with my longer term view. Having said that, there are a lot of people that do not have the stomach to let a trade go over 300 pips against them.
There are some daytrades I take that I won't let it go against me 20 pips and I'll take it out.
All circumstances are different. Other trades are based strictly on a confidence factor.
Another factor is the type of accounts someone has. I view this as something that sells e-books. It is the type of account that the trader has 1000,s in another account, so he opens a separate account with $500, and in a few months grows it to $10,000 with ridiculous lot sizes and he got lucky. Yet, his main account would not have been managed nowhere nears that.
You get the picture. There are so many variables. If you are uncertain of your position size or your money management skills, but your methodology is already in place, then I would suggest to experiment on a demo account. Until you have made a conclusion, I would trade being very conservative.
Take a nerve test test. If you can't open a trade, then shut your computer down, and be perfectly calm about it, and just go on and enjoy your life, then it is either something is wrong with your methodology or your money management, which could mean stop size or position size.
1. Methodology
2. Money management
3. Mind discipline
Having said that, when you ask about position size and money management you should use, that is a personal thing. You might like to scalp, daytrade, or even position trade. All those tenures of trades may require different size stops and even position size.
Other types of trades could have a backup plan to it. As an example someone may take a trade thinking the trade is going to go this direction today, but something happens. A look at the analysis for the bigger picture shows that market will still be there over the longer haul, so they hang on to it, and with the longer picture in view someone takes a position size in accordance with that view.
Personally, I am one to add to my position as time goes on. if it goes against me. Most people do not have the stomach to do that. This is where the full confidence in my S&R's as well as other aspects of my methodology come in at.
The one biggest trade I ever had was in the latter part of 2008. It went against me of 300 pips before it turned in my favor. When it was over, it was +2,000 pips. My position size was in accordance with my longer term view. Having said that, there are a lot of people that do not have the stomach to let a trade go over 300 pips against them.
There are some daytrades I take that I won't let it go against me 20 pips and I'll take it out.
All circumstances are different. Other trades are based strictly on a confidence factor.
Another factor is the type of accounts someone has. I view this as something that sells e-books. It is the type of account that the trader has 1000,s in another account, so he opens a separate account with $500, and in a few months grows it to $10,000 with ridiculous lot sizes and he got lucky. Yet, his main account would not have been managed nowhere nears that.
You get the picture. There are so many variables. If you are uncertain of your position size or your money management skills, but your methodology is already in place, then I would suggest to experiment on a demo account. Until you have made a conclusion, I would trade being very conservative.
Take a nerve test test. If you can't open a trade, then shut your computer down, and be perfectly calm about it, and just go on and enjoy your life, then it is either something is wrong with your methodology or your money management, which could mean stop size or position size.
- Status
| Thread starter | Similar threads | Forum | Replies | Date |
|---|---|---|---|---|
| J | Global Market Astro's innovative and accurate forecasts | Introductions | 2 | |
| U | Daily Forex Forecasts (D'Ani Foresight) | Forex | 2 |
Similar threads
-
Global Market Astro's innovative and accurate forecasts
- Started by johnrolan19
- Replies: 2
-