Ok. Here is one example of what i was writing about, being my approach. I like the USDJPY pair and it has been moving extremely fluent for the past couple of weeks. This position has drawn me further into the pair. I am not sure if it will still move like this is a month from now, but right now, i favor it. Ok. This trade is about a week or so old. Got it from my diary and i am now posting it. The 4 hour chart is in a downtrend for me, displaying lower lows and lower highs with no other clear pattern that could warn me of something else other than bears all over the place. The 1 hour chart shows a VEERY nice double top there. When i took the trade the double top was not completed. I usually anticipate the resolve of 1hour chart patterns by using 15 and 3 minute charts. Now, i usually enter the first chunk of my position when there is a break of a trendline on the 15minute. I like to send some ca$h in to see if it works. If it work i add. Here, although i would have had to enter at the trendline break, i chose to work this position out directly on the 3 minute as i saw increased market movement and i felt this was not going to give me any room for maneuver. And here is the 3 minute chart where i actually played stuff out. Entered my first part of the position when i had a lower swing low (closing basis) and i waited to add on a retracement. Unfortunately this one did not retrace ( i was right on my assumption) and i could not add to it, but i was happy to exit at 1:3 of my initial risk which is usually what i aim for. NOW, PLEASE if you are going to post on this thread take this post as an example and share your approaches. YOU ARE NOT GIVING AWAY ANY EDGE Because most likely you will not have anyone to give it to.
Mr Black. Thanks for your post, but please do reveal your approach towards chart patterns since this is the thread to do it on. Speaking of eurusd, i had some work on it too. Here is it. 4 hour clear higher high, higher low pattern showing bullish strength. 1 hour shows a rounding bottom/consolidation pattern after the rally on friday. i just wanted to participate in it after london open. 15 minutes showed a much clearer eve-eve bottom, very rounded, very rare and very efficient. because there was much noise there i preferred to enter later, when the peak high had been "taken". After that i wanted to add when the most recent swing high on the 15 minutes is taken and the subsequent retracement ends. so here is the add on the 3 min chart. I exited at 1/2 because i had a very late entry and the risk was pretty high, the whole trade being a bit of a stretch so i was out at about 1.4770. Cheers PS: I have revealed a bit of my approach with clear details, now i want people to only post if they do the same thing as i did, otherwise please let's not transform this thread into a public trading diary.
and i've been draggin' my ass to the office with the flu since thursday... well, seems a trader's gotta eat! seriously guys, whoever uses price, price patterns, trendlines, pivots, s/r levels of any kind... PLEASE post on this. other indicators are welcomed, but mainly price first hand is the main topic here and everything else should be in conjunction. Don't be shy, nobody's going to judge nobody. And if someone does, who cares? Let's give a big one up the azz to those who say traders are selfish and don't teach nobody. Let's give an example that even if we tell them how it's done, it's still useless We listen to the market's heart beat without anything but our ears. Who's in the group?
I figure by now you've noticed that traders have already disclosed in great detailed a particular trade methodology here at ET along with many pages of follow up discussion by those interested in the methods. Therefore, you may just want to post direct links to those threads in this thread. For example... Price and Volume: Strategy http://www.elitetrader.com/vb/showthread.php?s=&threadid=33766 Price and Volume http://www.elitetrader.com/vb/showthread.php?s=&threadid=29005 AHG - Profitable Strategy for Struggling Traders http://www.elitetrader.com/vb/showthread.php?s=&threadid=99283 Trading Hammers (revisited) http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880 15 minute Open Range Scalp http://www.elitetrader.com/vb/showthread.php?s=&threadid=100015 S/R Emini Journal http://elitetrader.com/vb/showthread.php?s=&threadid=69230 EWJ: Elliott Wave J http://www.elitetrader.com/vb/showthread.php?s=&threadid=101387 5 point pattern trading http://www.elitetrader.com/vb/showthread.php?s=&threadid=102345 There are many more threads like the above where the specifics of a particular method is disclosed along with lots of chart examples... Some boring (other ET members not interested) while others were controversial (lots of debates and arguments). Simply, maybe someone can take the time (a few hours) to list about 30 - 50 threads where traders disclose one particular approach to trading in great detailed. Thus, nobody is shy...it's just been done already. Mark
http://charts3.barchart.com/chart.a...divd=Y&evnt=adv&grid=Y&code=BSTK&org=stk&fix= Have a close look at the tops of these moves in march cocoa. Specifically, the price behaviour of course-for that matter, the bases too. See any similiarities? Of course, only a dummy would back up that a fourth replication would occur, i would anticipate a new fractal set/price behaviour to emerge now. But you only need to "see" one, to look for, and spot another.....one approach to pure price patterns, anyway. Not sure what its called, and havent seen it discussed much-fractal pattern analysis i guess.
Here is a failed short on the pivot entered at 12,282 which is just below the pivot reason for the entry - it is the first retracement after rising through the pivot and it is 1/4 the way down to the midpoint expected cover -- 12,232 --- 50 points and 250 bucks per contract note - that I did not cover --- 'hoping' to let it run below the midpoint --- failure to follow my own rules covered at 12,323 for a 29 point loss --- rules say the stop should be at 20 points but I did not put in a stop loss - I tried to execute it manually --- and didnt get the order filled till 12,323 informative for the mistakes I made
mark: thank you for the links. they are helpful indeed. acronym: to me it still looks like a good healthy uptrend, unless 2100 is "taken down" and it fails to make a higher high now. however, the new high had good momentum and i believe cocoa is heading higher for the time being. just from what i see here. mgabriel: taking a loss is not that bad at all i would look for a higher timeframe trend to be in favor of my trade. i can't really tell by your chart....
Im not going to argue that, at all-I dont know, I was simply pointing out the replication of price behaviour at those tops, (and bottoms) i was rather wondering if anyone else sees these things. I didnt see it as a healthy uptrend when the pattern developed, at first, i just saw the pattern, commented on it in a different thread. If i can find yet another solid pattern, which i suspect may hold predictive value, i will post it, for sure.