Intraday FX Player

[Willleung]

Quote from CFerret:

Will,

No, 4th touch of SAME channel applies (that smaller up channel where you placed 4 in our case). 1, 2 and 3 points form the channel and pt4 acts as S/R often.

like this?

 

[CFerret]

Quote from Willleung:

like this?

Exactly!

 

[Willleung]

 

[Willleung]

tread filter,

 

[Pholeuon]

This is one of my favourte setups if the point 4 is in such position that it can be considered the point on margin in prior, longer trend term channel like in this case.
Those setups are usually nearly risk free because because even if position is going a bit against you it will return back to test this area again.

In fact the short channel is wedge - the markets corrects from ovebought-oversold condition in bigger time frame. If you watch stochastic, rsi and cci you always see that during this they will move to opposite range.

Quote from Willleung:

like this?

 

[CFerret]

Quote from Pholeuon:

This is one of my favourte setups if the point 4 is in such position that it can be considered the point on margin in prior, longer trend term channel like in this case.
Those setups are usually nearly risk free because because even if position is going a bit against you it will return back to test this area again.

In fact the short channel is wedge - the markets corrects from ovebought-oversold condition in bigger time frame. If you watch stochastic, rsi and cci you always see that during this they will move to opposite range.

Yeah those setups are great... BTW we just had another one (around 7:15EST), but I missed it...

 

[CFerret]

TA nicely predicted the news spike direction again...

 

[Pholeuon]

Exactly. It was clearly visible like EUR just walked on top of channel to have enough place for falling and indes futures were down /ESTX 50 extremely, under normal situation it is much harder defending positions by sliding/ so they could jump up specatularly.

Somebody knew. Like we speak here all peoples are aequal just some are more adequal...

 

[Willleung]

Quote from Pholeuon:

This is one of my favourte setups if the point 4 is in such position that it can be considered the point on margin in prior, longer trend term channel like in this case.
Those setups are usually nearly risk free because because even if position is going a bit against you it will return back to test this area again.

In fact the short channel is wedge - the markets corrects from ovebought-oversold condition in bigger time frame. If you watch stochastic, rsi and cci you always see that during this they will move to opposite range.

Thanks a lot.. Pholeuon..

So much stuff to learn, so little time

 

[Willleung]

Not exactly gal of da day, but a certain wallstreet professional both CF and me got to know..