Price and Candlestick Patterns with SandRs - Trade Ideas
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Thread: Price and Candlestick Patterns with SandRs - Trade Ideas

  1. #1
    Hi There:

    I have started this thread for my own advantage and possibly for the sake of others. I'll journal my trade thoughts here so I can keep track of those.

    I exchange largely 4hr charts and upward. Lots of my trades last days or even weeks to complete. Although, in the future when I feel comfortable, I'll post scalp trades based on lesser time frame charts.

    My trade egies are not any secret. I use a combo of price patterns (PP) and candlestick patterns. Support and resistance levels (flat and station ) determine my entrance degrees.

    Right Now, I exchange the breakout of trend lines (TL) and PP.

    Please don't hesitate to contribute with your own trade thoughts. But please restrict your trades to price and candlestick pattern trades. There are 100's if not 1000's of trading egies out there (and I have tried most of them. . .lol), but I would like to focus on this thread on the fundamentals. . .ie. . .Price/Candlestick patterns with SR's and TL trades.

    Greg Bates

  2. #2
    Quote Originally Posted by ;
    Analysis:

    1. Break of 4 touch TL of lower highs
    2. Falling Wedge PP
    3. Higher low at point 3
    4. MACD Divergence
    5. Break of resistance at 1.8050

    Risk: SL below point 3 at approximately 1.7480

    Targets: TP1 1.9100 TP2 2.0170 or Trail SL

    Enter on rest of 1.8303
    This commerce never was able to break point 2....so we should await another set-up....but I am still bullish with this pair.

  3. #3
    hi batesmotel,

    Based to your view and expertise,refer to this attach EUR/GBP H1 chart below,is it long or short and what is the service and resistant?thanks

  4. #4
    Quote Originally Posted by ;
    hi,

    Depending on your view and experience,refer to this attach EUR/GBP H1 chart below,is it long or short and what is the service and resistant?thanks
    Hi Mike:

    I haven't analysed the EurGbp in detail....but she looks good for a long IF she can divide the down TL of lower highs as well as the heavy resistance at .8467....the next few days should give us an answer....looks good though if she breaks the TL and right shoulder...

    Greg

    PS I think you have a shot at a bounce on your market....the EurGbp is testing a hefty resistance degree....just watch it closely. . .it could go either way. IMHO

  5. #5
    Analysis:

    1. Double Top
    2. Break of TL of greater lows
    3. Break of heavy support at .8258
    4. 61.8% retrace of downward trend (90.00 - 76.37)

    Risk: SL Aggressive: above .8350 SL Conservative: above shirt at .8460 or even above Resistance at 85.18

    Goal: TP1 81.27 TP2 79.10 or trail SL

    Entry: I've entered a tiny position at 82.41. If she retraces I will add more on my sell position at a better price....



  6. #6
    Thank batesmotel for your explaination and effort

  7. #7

  8. #8
    Quote Originally Posted by ;
    any remark for eur/usd?
    Hello Mike:

    I'd stay with your brief. I missed the boat on a wonderful inverted HS opportunity....EU certainly looks bullish to me personally....but perhaps the resistance at 1.2930 and the Doji indies that a pullback. . .good luck on your trade!

  9. #9
    If you would like to center on PA and Candle patterns, why do you still use indiors? (MACD, MA's). .Do you still look at these throughout your decision process?

  10. #10
    Nothing but blue skies from now on....

    I'm keeping an eye on this open this day....looks like a nice long term long opportunity...I will analyse this transaction tonight perhaps....

    I might describe this trade because flying into the sunrise towards the morningstar

    Greg

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