Search results

Here is the chart, updated, with some notes on the short. Also, there is a good possible long set up, RIGHT NOW. Price has bounced from support (34) and is breaking the downtrend line. A possible entry could be over the swing high around 35.25 - 35.50

Let's track GPB JPY

Are you an engineer? I am not really sure what the hell all of that annotation is. All that to look at price action? Please don't even try to answer this or explain as I am sure another lengthy answer that is too long to follow would ensue. (no offense)

See updated chart.

epetrov This is a great chart example On the daily timeframe, one could look at a chart back to at least October of last year and see clearly that the 40'ish area is resistance. Well, even recently price has gotten just under 40 and retreated. Currently price has retreated and is at this...

This chart has multiple timeframes lining up and building energy for a move. From the oveall bottoming pattern, to the pause for a 3rd time at this resistance area, (oh, trendline) to the small contracting/overlapping bars with tail on the top and bottom. And where would I personally...

Sure, we can discuss that too. Personally, I look for at least a 3rd 'respect' of the trendline... A contraction at that line, and then (if going long) a tick or two, depending on the timeframe, over the high of the highest bar inside the final contraction bars. Please let me know if you...

Sometimes, THE OTHER SIDE of the trendline (support or resistance area) can help just as much as traditional interpretations. See the attached chart. Top chart, price is at trendline (resistance) for a 3rd time. Shows respect by contract for a few bars and then breaking. Bottom chart...

Quote from DrEvil: .............but price does not respect a trendline, it merely respects support and resistance. Very true, Trendlines are support and resistance. For further elaboration of this, scan through some of my posts in this thread. I show many examples and refer to...

if the top breaks, bullish

Classic pattern. The current pause with contracting overlapping bars is great.

I updated mu200411's chart with what I feel are some significant trendlines and S/R areas..... and a question. Oh, and regarding mu's comment on "not betting your life on trendlines" I wouldn't bet my life, or even 20% of all my capital on any technical analysis.

That trade faltered quickly. And , may be forming a new one at intraday downtrendline.

Yes, anything can happen at any time. Any market, any stock, any instrument. and THAT is why we use lines, stochs, candles, etc To help us find something we've seen before and help with the odds.

This trade just triggered. We'll see what happens.

Larger picture

Now the BIG trade could be dow going under 12110 I'll post a pic soon.

here's the updated chart from a couple entries above It was a scalp

FWIW All I use are trendlines and candlestick congestions. I use them for entry, stops and exit points. I add this comment to provoke a little more thought for those who say "yeah, trendlines, but you also need....." or of course for those who disregard them alltogther. (which is ok if...

On the attached chart you will find: Obvious respect of a trendline, Consolidation at the trendline (instead of bouncing) Breakdown of the trendline This occurs over and over and over every day, every market, every stock. Now, how/when you enter and how/when you exit is a WHOLE...