Some of my forecasts

[rajesh.sadhanala]

Raj, excellent questions!

Believe it or not, I am not big on using Fibs. I only use them in plotting between my S&R's.

Your analogy is correct concerning crests and troughs with regards to the market's trading cycles.

This is a time I do not think about trading the bounces. A look at the higher TF's tells me to stay away from thoughts of bounces but to focus more on continuation patterns. From a personal point of view, I am holding a couple of rather nice positions, and am simply adding to them as the trends progress.
On my initial positions, my Swissy is up over 200 pips, and my Euro is up close to 500 pips.

In trading the bounces, my stops are set at 40% of the distance between reference points. In choosing the right times to trade bounces is also imperative.
The 40% represents a small distance on the other side a small distance on the other side of the 38.2% level.

BTW, it is not often I allude to my personal trades, as I like the thread to be given more to forecasting and analysis. It was just for the benefit of this conversation I had to bring it up.

Thank you Paul.

I will make a habit of looking at different timeframes to get continous patterns. I have stopped using Fib levels a lot to decide whether its a correction or not.

I always prefer to trade on continous patterns and not to reverse on every target to benefit the small correction. The reason is that I am not a full time trader. I have passion for trading so I give equal importance as I give to my work.

Its good to know that you are in a very commanding position.

Regards
Raj

 

[rajesh.sadhanala]

I have entered short @ 1.3670 as it was some resistance area according to the daily chart

I thought that you have advised not to go against the trend today.
Trading the small corrections is really not ideal and then we will be always contra-traders. Even I use to do it lot of times.

If we can learn to trade the continous patterns even if they are some jitters (which are corrections) then we have acheived what we want. Just my viewpoint.

Regards
Raj

 

[rajesh.sadhanala]

Raj, this is why of recent posts I have almost been harping on the higher TF's and the implications involved. I added to my EUR/USD position last night, but it was not a matter of my S&R's, but a matter of finding a place to jump in for some added pips on the journey.
This is why I view (and they are) my S&R's as being highly effective, but it is only a microcosm within the total scope of my methodology. On the weekly the EUR/USD was OS, at extreme levels on the SD channel and a decision point with regards to the bottom of the cloud. With all the other variables it was evident what the decision was going to be.
I'll assure you, the bounces will be tradable next week. Price action has already indicated that.

If you have found that your original positions make money for you, but have found no success in adding to it, then stick to what has brought you success to this point. Adding positions is something progressionary within the total scope of the methodology.

Wow.. That is indeed a good bridge to add.
Yes, as off now I am not adding at this point. With time and experience, I should pick it up.

I have closed all my open positions and calling it a day. Good nite Guys..

Regards
Raj

 

[forexworld]

I thought that you have advised not to go against the trend today.
Trading the small corrections is really not ideal and then we will be always contra-traders. Even I use to do it lot of times.

If we can learn to trade the continous patterns even if they are some jitters (which are corrections) then we have acheived what we want. Just my viewpoint.

Regards
Raj

I really have to put 10% of my fundamental reasons here but before a technical one Indeed the trend seems to very strong look at the bars there , look at the h1, h4 bar and even have a look at the daily bar! it seems to be so great that I told You should not fight against the trend ! now look at the level 1.3670, now look at this particular level on every time frame! this levels holds a strong resistance, and when I say strong I really mean it, even look at the weekly and monthly chart and zoom out a bit you will find this levels is difficult to break,! this is a very strong R, even the trend is too much for bulls but I had to take my chances ! there should be even a minor correction to the low after hitting this level ! if not I would be surprised !before the uptrend is resume to the bottom of the monthly cloud at 1.3845 Me personally is expecting some correction

 

[forexworld]

10% of fundamental for strong trend - ok I would not say much and I don't want a reply to this particular post and I would not suggest anyone except raj to read it please don't look even here I don't want anyone to get a corporal tunnel after reading this - lol

but today was a very good day for the eurozone, everything was greater than expected ,steps are taken to solve the debt crisis major issue have been solved almost, eurzone has gained the investors confidence today, talk of banks re capitilization are also been held! so add it to to the bulls

 

[4xpipcounter]

EUR/USD update

While the pair continues to struggle at my MR1 at 1.3671. I would look for strong R at the WR3 at 1.3713. Unless there is broad consolidation from current level, the WR3 should bring on a sharp intraday decline.

 

[forexworld]

Re: EUR/USD update

While the pair continues to struggle at my MR1 at 1.3671. I would look for strong R at the WR3 at 1.3713. Unless there is broad consolidation from current level, the WR3 should bring on a sharp intraday decline.

Mr paul I have a short at this level and I am expecting some corrections to atleast a pullback to 1.3604!

 

[4xpipcounter]

USD/CHF update

Any correction from this point will be limited to .9115. Any moves north are not worth trading.

 

[4xpipcounter]

Okay, no comment.
I'll read your FA's if I get insomnia tonight--lol.

OTT, everything is caught up, so Tucker and I are going to enjoy the great outdoors.

BTW, isn't that carpel tunnel?

10% of fundamental for strong trend - ok I would not say much and I don't want a reply to this particular post and I would not suggest anyone except raj to read it please don't look even here I don't want anyone to get a corporal tunnel after reading this - lol

but today was a very good day for the eurozone, everything was greater than expected ,steps are taken to solve the debt crisis major issue have been solved almost, eurzone has gained the investors confidence today, talk of banks re capitilization are also been held! so add it to to the bulls

 

[forexworld]

Okay, no comment.
I'll read your FA's if I get insomnia tonight--lol.

OTT, everything is caught up, so Tucker and I are going to enjoy the great outdoors.

BTW, isn't that carpel tunnel?

HAHA You again got it wrong its Carpal tunnel - lol