Some of my forecasts
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A TL road map for the EUR/USD
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Just by viewing the TL's, we get a perceived idea of the route of price action for the future.
Uploaded with ImageShack.us
Just by viewing the TL's, we get a perceived idea of the route of price action for the future.
Raj, I think you are describing chasing the trade.
Many traders would now look at the size of the candle for the USD/JPY, and for no other reason rationalize the fact that it has to head higher, so they plunge in. I used to do that the first year of trading, and it was so frustrating. Now, I get e-mails to that effect.
If there is a sound methodological principle to enter after the big candle forms, then okay, but just to chase the trade is another story.
LOL, it sounds like Hills did okay on his demo account. I didn't get a single pip on that move on any of my accounts.
Here's the sneaky little secret, there are plenty more opportunities to come. As I mentioned in another post, that move was predictable but for me it was not tradeable.
Many traders would now look at the size of the candle for the USD/JPY, and for no other reason rationalize the fact that it has to head higher, so they plunge in. I used to do that the first year of trading, and it was so frustrating. Now, I get e-mails to that effect.
If there is a sound methodological principle to enter after the big candle forms, then okay, but just to chase the trade is another story.
LOL, it sounds like Hills did okay on his demo account. I didn't get a single pip on that move on any of my accounts.
Here's the sneaky little secret, there are plenty more opportunities to come. As I mentioned in another post, that move was predictable but for me it was not tradeable.
Re: A TL road map for the EUR/USD
Uploaded with ImageShack.us
Just by viewing the TL's, we get a perceived idea of the route of price action for the future.
I think I should make a trip to your place to learn the art of trendlines.
When I look at the Monthly chart of EURUSD.. I see the downward trajectory to 1.26/ 1.15. It will not help me in my trading because I dont trade long term.
Just viewing different timelines to understand the big picture
Regards
Raj
Uploaded with ImageShack.us
Just by viewing the TL's, we get a perceived idea of the route of price action for the future.
When I look at the Monthly chart of EURUSD.. I see the downward trajectory to 1.26/ 1.15. It will not help me in my trading because I dont trade long term.
Just viewing different timelines to understand the big picture
Regards
Raj
Paul what I had asked in the morning was shorting such a sudden big rise in the U/Y pair. What I have observed in my humble experience is that when ever there is such a big sudden bar, it always retraces thus affording you some nice pips. Quite contrary to chasing the trade wouldn't you say.BTW. Posted the nifty chart just after your Sensex updates. Views would be welcome.
Hills, we can assume that is what the market will do. I understand your reasoning.
This has become an extremely volatile market, and it took all of 1 hour for it to happen. Unless within the strict mandates of the methodology it says to short, it is time to stay out.
Once the volatility is finished and things level out a bit, then this pair, like all the others, presents some outstanding trading opportunities.
I should add that scalpers might look at this as gold. The pair is busting loose on the 1m, 5m, 15m, so it was time to jump in short. But again, that is also what I mean when I say within the strict mandates of your methodology.
The point I'm really trying to make here is don't place a trade based on assumptions.
This has become an extremely volatile market, and it took all of 1 hour for it to happen. Unless within the strict mandates of the methodology it says to short, it is time to stay out.
Once the volatility is finished and things level out a bit, then this pair, like all the others, presents some outstanding trading opportunities.
I should add that scalpers might look at this as gold. The pair is busting loose on the 1m, 5m, 15m, so it was time to jump in short. But again, that is also what I mean when I say within the strict mandates of your methodology.
The point I'm really trying to make here is don't place a trade based on assumptions.
I am talking about the chasing the trade. Its one thing
The second point is that defining the top or bottom when there is high momentum. Simple example, last friday there is a move on AUDUSD. There are lot of points where u think there wud be resistance but those cannot be traded. Only after consolidated and get back down can be traded.
I have done those mistakes a lot. Its just my opinion.
Regards
Raj
The second point is that defining the top or bottom when there is high momentum. Simple example, last friday there is a move on AUDUSD. There are lot of points where u think there wud be resistance but those cannot be traded. Only after consolidated and get back down can be traded.
I have done those mistakes a lot. Its just my opinion.
Regards
Raj
Msiddique, thank-you! I enjoy it! Analyzing markets, charts and the mathematics associated with it all is something I love to do. If in sharing someone benefits, then it makes it that much more worthwhile. Believe me, what we share in this thread and other worthwhile thread on this forum is barely the tip of the iceberg. I could devote writing about the markets, with sole regards to charts, graphs, indicators and the related mathematics 24/7 and still not begin to cover it all.
The main thing I've suggested many times, is never just take my word for things. Make me accountable by doing the research. Afterward apply the tidbits that is best suited for you. Also, part of the reason I do the Weekly Review on my Weekly Forecast is to make my forecasts accountable and to further validate them.
My forecast for gold:
Gold 1763.45 1745.10 1734.05 1711.95 1700.90 -1682.55
A correctional process should be beginning for this market. We just had a bounce off the 4-hour TL/kijun/ WS1 confluence area. It contained for the time being but does not figure on doing so. WE should get a consolidative bounce at the WS2 at 1700.90. After this entire move is fully culminated, which should take all week, then it is possible the market is ready to resume its journey north.
Full culmination is probably going to result in a drop to at least 1659.04.
The main thing I've suggested many times, is never just take my word for things. Make me accountable by doing the research. Afterward apply the tidbits that is best suited for you. Also, part of the reason I do the Weekly Review on my Weekly Forecast is to make my forecasts accountable and to further validate them.
My forecast for gold:
Gold 1763.45 1745.10 1734.05 1711.95 1700.90 -1682.55
A correctional process should be beginning for this market. We just had a bounce off the 4-hour TL/kijun/ WS1 confluence area. It contained for the time being but does not figure on doing so. WE should get a consolidative bounce at the WS2 at 1700.90. After this entire move is fully culminated, which should take all week, then it is possible the market is ready to resume its journey north.
Full culmination is probably going to result in a drop to at least 1659.04.
Hi Paul,
Thanks for all your wonderful analysis & precious time you spend overhere. We are really really grateful to you.
Would like to request you to please post your views on Gold for this week if you can please manage to do so else no problems
Thanks again
Thanks for all your wonderful analysis & precious time you spend overhere. We are really really grateful to you.
Would like to request you to please post your views on Gold for this week if you can please manage to do so else no problems
Thanks again
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