Some of my forecasts

[4xpipcounter]

There are many cliches, and most people know I have a great disdain for all of them.
Onne is, "You never move your stop." That's a good rule, but never say never (Ouch, another cliche.)

It is possible to get into a trade thinking you are in it for the ST. Sometimes things will change.
Thus, we bring on the EUR/USD. There was already discussion on where my SL is set. That is predicated on me getting out of the trade within 24 hours of entering, and I would use the 15-min to set the stops once the slower time of the day kicks in.
That is now subject to change. I already said 1.3089 is on the radar. The hourly would be too short of a stop if I am riding the trade that far. Therefore the thing to do is use the 4-hour as the stop. The arrows point to where the stop would be as of this writing, and where it would be at 10:30pm IST. Most likely, that is going to be my operative. The exception would be if the TP gets hit. I know there will be a bounce from that area, so I'll reenter after the bounce.

In essence, I have just dispelled the notion that you never move your stops back. Having said that, there still needs to be a methodological approach to moving a stop. If someone is in the habit of moving a stop because they're afraid it will be hit, then I got a message for them, "Never move your stop!!!"

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[4xpipcounter]

RK, absolutely not!

This thread is all about forecasts and TA's. I've been enjoying the charts and the discussions. As I mentioned before, all this helps me as a trader. These kinds of discussions I cannot have with my wife (I get a blank stare from her.), grandchildren (All they know is which way up and down is.), or Tucker (He's the boss, and he doesn't believe in discussion.). Therefore, I have all you guys to discuss with.
Another thing is our backgrounds, knowledge base are all different. Also, our personal perceptions are all different. Take all that, throw it one big pot, and you got a recipe all of us benefit from.

So, you bring on your disco colors and I'll break out the Gap Band, Frankie Smith, Village People, and Anita Ward.

Sir
I hope i am not spoiling the flow of thread by posting so many charts, Kindly tell if that is so
Regards

 

[Piratetrader]

Re: Crude Oil

I wish I did not miss this at the beginning of the week. It has preformed perfectly.
I would look for the WR2 at 102.22 to be strong R this week. It will take a high octane move to get through that area. The current level, circa 100.70 should be strong S on the bounce. If the WR2 is hit, then we should not finish below the current level.

sir how ironic you should have posted it at the beginning of the weekly forecast lol. it worked out perfectly well circa strong resistance @WR2 got hit! Sir do you think 89.66 is on the radar(lol) in the coming months?

 

[Piratetrader]

sir what if the long entry candle counting the 3 candles back is below the kinjun. the 3rd candle is below the kinjun in a long position? ?

sir maybe you missed my post again lol !

 

[4xpipcounter]

Re: Crude Oil

Ironic!?!? Is that the first time I ever made a right call?
Actually, that is why I created the S&R's that way. Combine the WR2 with hitting the top of the SD channel, you have all the making for a strong reversal, which is what you are witnessing right now.

The market is still headed to 108, MT, and 99.08 or higher will contain the move south. Even now, it is struggling with the top of the hourly cloud and the bottom of the hourly channel.

sir how ironic you should have posted it at the beginning of the weekly forecast lol. it worked out perfectly well circa strong resistance @WR2 got hit! Sir do you think 89.66 is on the radar(lol) in the coming months?

 

[Piratetrader]

Re: Crude Oil

Ironic!?!? Is that the first time I ever made a right call?
Actually, that is why I created the S&R's that way. Combine the WR2 with hitting the top of the SD channel, you have all the making for a strong reversal, which is what you are witnessing right now.

The market is still headed to 108, MT, and 99.08 or higher will contain the move south. Even now, it is struggling with the top of the hourly cloud and the bottom of the hourly channel.

Sir lol No you always make a right call ! but ironic In the sense this was such a perfect call on crude oil 3 times you did this week but you forgot to mention it in the WF!!

 

[4xpipcounter]

If you look at the EUR/USD, there are strong implications the pair is headed north, MT. The candle was below the kijun at the start of the day. If someone wanted to use the pair as a swing trade opportunity, then you would enter and follow the trade as per my previous post. Enter according to the hourly and track it. Once it is on top of the 4-hour, then use that TF, Finally, wait for it to cross the daily, then use it.
Personally, I'm not going higher than the 4-hour. The trend might be over before the 4-hour cracks.
Hopefully, this thing is over somewhere under the kijun on the weekly, then you could use it for the ride the rest of the year if you wanted to.

sir what if the long entry candle counting the 3 candles back is below the kinjun. the 3rd candle is below the kinjun in a long position? ?

 

[4xpipcounter]

Re: Crude Oil

On the WF, I review the 11 major pairs that I do (12 now with the EUR/AUD). OTT, I'll forecast it, then if I am off or it needs an update, someone can let me know. Basically anything except Nifty, I don't track closely unless I trade it.

Sir lol No you always make a right call ! but ironic In the sense this was such a perfect call on crude oil 3 times you did this week but you forgot to mention it in the WF!!

 

[EagleOne]

That's what happens when the Gap Band drops a bomb. Colors end up all over the place. (Wow! 1981.)

For you, I have the solution in the words of Nillson:
"Put the lime in the coconut drink it all up....
Then you call me in the morning. I'll tell you what to do."

But doctor! I drank 'em both up! And now 'I guess the lord must be in New York city'! :lol:

 

[NANDAMAD]

I did not remind you because you said in one of your post that your weekend kept you busy and you were unable to to carry on on monday as it is your weekly and wd be done at the weekends only. This is regarding crude.