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Author Topic: TA Forex Trading  (Read 16198 times)

Heavyweight

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Re: TA Forex Trading
« Reply #3330 on: July 20, 2017, 11:42:46 am »
There's UCAD....went beyond 1.2550 that was expected....
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Pennies2007

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Re: TA Forex Trading
« Reply #3331 on: July 20, 2017, 11:45:30 am »
Yep, I got the long UCAD covered already...LOL!

Now, take a look at the market. This is the ONLY reason these risk pairs have been running. They've been shunning the dollar in favor of stocks, which is finally back to normal...market up, dollar down. For a long time, the dollar was out of sync with the market but that has finally been corrected. Risk pairs should go up with the market and, more importantly, down with the market.'

One of the primary reasons I'm bullish on the dollar and bearish on the risk pairs is because of what I see across multiple charts, especially ones like the S&P weekly.

Here tis...wedge within a wedge. I fully believe the bears are about to come out of hibernation.

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Heavyweight

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Re: TA Forex Trading
« Reply #3332 on: July 20, 2017, 09:42:29 pm »
Nice pick up of 67 pips on AU short....
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Pennies2007

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Re: TA Forex Trading
« Reply #3333 on: July 20, 2017, 09:54:38 pm »
Quote from: Heavyweight on July 20, 2017, 09:42:29 pm
Nice pick up of 67 pips on AU short....

Yep, that technical level on the extensions of the daily chart were going to be hard to get past by much without a good retrace on the AU daily chart.

Debelle from the RBA was the catalyst the market needed.
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Pennies2007

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Re: TA Forex Trading
« Reply #3334 on: July 20, 2017, 09:56:35 pm »
Same AU daily chart untouched.

The analysts can spin things however they want but over and over again these longer term math extensions keep nailing the turnarounds.

All I can figure is that's what most of the market algorithms are based on.
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javalin

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Re: TA Forex Trading
« Reply #3335 on: July 20, 2017, 11:28:37 pm »
AUD/USD 1 Hour
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Pennies2007

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Re: TA Forex Trading
« Reply #3336 on: July 21, 2017, 12:27:31 am »
Just a quick update on the EA. The daily chart is an obvious success at the default settings of 2%. So now I want to see how much risk can be handled safely with this EA on the daily charts.

I'm bumping the risk percentage up to 4% from 2%. Just gonna let it run again for a while and see how it goes.

Still running the 5 majors only. This EA can be run on as many pairs as you want to run it on but keep in mind you'd have to drop the risk per chart considerably to do that successfully and not overload the account.
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Pennies2007

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Re: TA Forex Trading
« Reply #3337 on: July 21, 2017, 01:26:10 am »
Just ran a 10 year backtest on AU with the risk increased from 2% to 4%. Wow! And these are daily charts gang.

Over 600% gains. 95% win rate. 80 consecutive wins maximum winning streak...and only 2 losses maximum losing streak.

Winner, winner, chicken dinner...LOL!

Here are the files, both the graph and the report.

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Pennies2007

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Re: TA Forex Trading
« Reply #3338 on: July 21, 2017, 02:06:46 am »
NU Hourly Chart

Hit the FE100 and went just a bit beyond it. Looking for a retrace now to the FE61.8 at 0.7362.
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Pennies2007

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Re: TA Forex Trading
« Reply #3339 on: July 21, 2017, 03:52:23 am »
EJ Daily Chart Analysis

I was going through chart analysis training with a buddy of mine to get him used to do doing in-depth TA. This is the EJ daily chart.

Shorts are in favor big time here for a lot of reasons. Triple fib confluence plus previous support zone now turned resistance.

You name it, it needs to be shorted...LOL!
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Pennies2007

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Re: TA Forex Trading
« Reply #3340 on: July 21, 2017, 03:58:50 am »
Looks like CAD news is the only thing on the docket this morning so it would take some type of external stimulus to get the other pairs moving.
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Pennies2007

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Re: TA Forex Trading
« Reply #3341 on: July 21, 2017, 04:01:38 am »
NU still looks to be running out of steam in the 30 minute wedge here. Keeps clocking in bearish topping candles.
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ForexTrader

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Re: TA Forex Trading
« Reply #3342 on: July 21, 2017, 05:00:41 am »
way back when...still long EU from 1.1150

Quote from: ForexTrader on June 03, 2017, 06:45:09 am
Quote from: Pennies2007 on June 03, 2017, 03:48:39 am
EU Weekly Chart

Sometimes I forget that when I'm trading long term charts I fail to back out and give a view of what I'm seeing so that everyone knows I'm not totally crazy. This chart indicates why I'm not in the least worried about what EU is doing right now because I know it's the last gasp in nothing more than an Elliott Wave 4 correction series. Next comes Wave 5 down.

The pair is deadly bearish...make no mistake. And it will break to the downside hard and heavy and head to parity and likely below. All this mickey mouse stuff going on in the markets now is basically "much ado about nothing".

Still think at least 1.15/1.16 is coming before that.
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Pennies2007

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Re: TA Forex Trading
« Reply #3343 on: July 21, 2017, 05:16:10 am »
Yep, you nailed it ForexTrader...excellent call! :-)

But things are getting pretty iffy in this area. I was actually just about to post this chart. This is the 3rd attempt at breaking that resistance zone here on the weekly chart. If it fails this time, it's a long way down.

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Pennies2007

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Re: TA Forex Trading
« Reply #3344 on: July 21, 2017, 05:21:29 am »
Quote from: ForexTrader on July 21, 2017, 05:00:41 am
way back when...still long EU from 1.1150

Quote from: ForexTrader on June 03, 2017, 06:45:09 am
Quote from: Pennies2007 on June 03, 2017, 03:48:39 am
EU Weekly Chart

Sometimes I forget that when I'm trading long term charts I fail to back out and give a view of what I'm seeing so that everyone knows I'm not totally crazy. This chart indicates why I'm not in the least worried about what EU is doing right now because I know it's the last gasp in nothing more than an Elliott Wave 4 correction series. Next comes Wave 5 down.

The pair is deadly bearish...make no mistake. And it will break to the downside hard and heavy and head to parity and likely below. All this mickey mouse stuff going on in the markets now is basically "much ado about nothing".

Still think at least 1.15/1.16 is coming before that.

Almost forgot...the bigger picture still says EU is headed to parity. This whole sideways motion on EU has been and still is an EW wave 4 consolidation designed to burn off near term oversold conditions. Now that those oversold conditions are gone, it has plenty of potential energy to convert to downside motion.
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TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm