Some of my forecasts

[4xpipcounter]

If a pullback has some strong obviations to it, then I trade it.

As an example. With the recent break of the TL on the EUR/USD, I knew there would be a corrective process back to it, and price action ranged far enough under the TL to warrant me taking a position on it. This will be good for about 100 pips, but then the big position will be once the correction is finished and it heads for another leg south.
Basically, I like to trade any setup that has a high confidence ranking in my opinion.

Let me add in referring to my trade that I use it as a reference to your question. I don't like referring to my trades after I had gotten into them. I almost blush when I mention them, because there are some that like to do that sort of thing constantly.

I had an extremely long day today, but before I call it a day, I'll post a chart on the AUD/USD to show its current plight.

You explain it very well Paul.
One query, do u trade those pullbacks. Like currently holding at 1.028 at the time of your post. it may reach the kijun area of 1.0118. Do you trade these setup..
Thank you for your time really.
Good nite.

Regards
Raj

 

[4xpipcounter]

Aud/usd

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The 4-hour chart shows the TL was broken at 1.0208 after finding support there for awhile. The candle is larger than the usual one, so we know it is a typical TL break. We already had the pullback to point of the break, and now the TL acts as containment. Look for the point the tenken meets the TL to be containment at 1.0258, before we get another push south towards the WS2 at 1.0012. The WS2 could contain before it brings another rise.

 

[4xpipcounter]

I also got an e-mail and I'm too lazy or tired to get back to it. I know that one is reading everything in this thread.

Post # 1580 refers to the Aussie, which is the AUD/USD. Many of the currencies have nicknames:
EUR/USD-- Fiber.
GBP/USD-- Cable or sterling.
USD/CHF-- Swissy.
AUD/USD-- Aussie.
NZD/USD-- Kiwi.
USD/CAD-- Loonie.

Okay, I'll be checking back in in about 8 hours.

 

[tradetogain]

paul,
i am just curious.i can understand swissy,aussie and kiwi.
but why and how others are named like fiber,cable and loonie.
any specific reason for these odd names

I also got an e-mail and I'm too lazy or tired to get back to it. I know that one is reading everything in this thread.

Post # 1580 refers to the Aussie, which is the AUD/USD. Many of the currencies have nicknames:
EUR/USD-- Fiber.
GBP/USD-- Cable or sterling.
USD/CHF-- Swissy.
AUD/USD-- Aussie.
NZD/USD-- Kiwi.
USD/CAD-- Loonie.

Okay, I'll be checking back in in about 8 hours.

 

[4xpipcounter]

TTG, you got me there. I just heard of Euro's nickname in the last 6 months.

Someone was asking me privately about the AUD/USD. I told him I posted a view concerning it. I must have thrown him when I called it the Aussie.

paul,
i am just curious.i can understand swissy,aussie and kiwi.
but why and how others are named like fiber,cable and loonie.
any specific reason for these odd names

 

[tradetogain]

googled and got the answers and it is interesting knowing these,ofcourse i dont trade forex being in india and lot of government issues involved

TTG, you got me there. I just heard of Euro's nickname in the last 6 months.

Someone was asking me privately about the AUD/USD. I told him I posted a view concerning it. I must have thrown him when I called it the Aussie.

 

[rajesh.sadhanala]

Mr paul,I am sorry for the posting here but I had to answer this-
Raj, Go to google type ( 4xpipcounter.blogspot.com )! that is Mr paul's blog you will find all the weekly forecast about what is going to happen with all the major 11 pairs these week, Including indian markets and commodity ! Mr paul helps me discussing it through emails also

Thanks for your reply. I havent seen u for long time. Good to hear that. How is ur trading going on.
Hope that you are having good time..

Regards
Raj

 

[4xpipcounter]

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I wanted to give the update to this post. As you can see that corrective target of 1.3815 was hit exactly. Let me be clear in stating that mark does not mean it is R. That is the minimum corrective target, while the TL will be R. So, in looking for a short the entry is anywhere from 1.3815 to the TL.
There is a very good chance the WP could be revisited at 1.3869.

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Raj, I think I posted somewhere that my TP was set at the weekly tenken at 1.3847, so I am looking for a new entry in the EUR/USD or for an entry in another market. My USD/CHF is still up and running, and I'm being patient with it as I let it run.

All that being said, the EUR/USD is giving us and up-to-date and current lesson on TLs with regard to the next entry. The official and traditional TL is the one on the bottom that was drawn from the dip to the 1st swing low. The second one was drawn from 1st swing low to the 2nd swing low. That could be considered a preliminary TL, and we did get the typical break of the TL.
By preliminary, I mean it could be the first sign of either consolidative pricing activity as we still head to 1.4004, or if the official TL is broken, then it marks we are back in the DOWN. The official one should be a decision point.
With regard to the break of the 1st one, we would wait for the correction to take place that will hit at least 1.3815 (The point of the line is was broken, up to circa 1.3838, which is the tenken.). That will mark an ideal entry for a move to the top of the cloudTL confluence of 1.3605.
If original conjecture is correct that 1.4004 will be the peak, then 1.3605 will mark the perfect entry for a move back to that point. At the very least, it will mark a low-risk opportunity.

As far as the Aussie is concerned, let me address it with a separate post.

 

[rajesh.sadhanala]

If a pullback has some strong obviations to it, then I trade it.

As an example. With the recent break of the TL on the EUR/USD, I knew there would be a corrective process back to it, and price action ranged far enough under the TL to warrant me taking a position on it. This will be good for about 100 pips, but then the big position will be once the correction is finished and it heads for another leg south.
Basically, I like to trade any setup that has a high confidence ranking in my opinion.

Let me add in referring to my trade that I use it as a reference to your question. I don't like referring to my trades after I had gotten into them. I almost blush when I mention them, because there are some that like to do that sort of thing constantly.

I had an extremely long day today, but before I call it a day, I'll post a chart on the AUD/USD to show its current plight.

Thanks Paul. Yes I understand wat you mean. Basically u adjust the situation and see the strength of the move.

The best thing is the way u adjust according to the new candles being formed. I also respect that you dont refer to ur trades and ur idea of sharing knowledge is really good.

Regards
Raj

 

[rajesh.sadhanala]

Re: Aud/usd

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The 4-hour chart shows the TL was broken at 1.0208 after finding support there for awhile. The candle is larger than the usual one, so we know it is a typical TL break. We already had the pullback to point of the break, and now the TL acts as containment. Look for the point the tenken meets the TL to be containment at 1.0258, before we get another push south towards the WS2 at 1.0012. The WS2 could contain before it brings another rise.

The containment of 1.0258 is broken now and headed to the previous hign. Now we have to see whether it takes out 1.0370.

Please correct me If I am wrong. Since containment is broken, does ur view change and look to go for long if it takes out 1.0370 as the previous top in this rally. I am trying to understand the scenario and change ur trade plan with change of time.

Regards
Raj