Technical Templates

[Ray_1]

I think the experienced guys have more or less wrapped up their trading for this year judging by their prior comments, & I'm sure you're aware of the reducing liquidity issues if you've been following their material the past couple of years. But I totally agree with you that this framework & structure prevents any real damage to the account providing the bias, triggers & avaialable ADR are all present at entry.

I too am getting more involved next year & look forward to interacting with you, kyle & the regulars on here.

Add me in too. I am also greatly influenced by the TT threads over at BP.However I am a slow learner. zilly, kyle and se7en seem to pick things up and combine the materials offered much better than me. Hope I can add some quality stuffs to the thread here like most of you.

[kyle morgan]

I'm back in this morning taking another nibble on this gbpaud trade.
I'm not looking for a massive deal on this long, just perhaps another knock up towards yesterdays highs if it has the stamina.

No stamina today Se7en
It's a real floppy friday out there. Traders are too busy Xmas shopping & necking back bottles of expensive plonk to be concerned with placing bets today

I agree with zilly though, playing those kinds of odds won't get you into too much trouble.

am also greatly influenced by the TT threads over at BP.
However I am a slow learner. zilly, kyle and se7en seem to pick things up and combine the materials offered much better than me.

Everyone works & absorbs info at their own pace Ray. I'm sure you've picked up some handy stuff on the TT threads over the years that has helped to shape your current style.

The thing I like about their material is the fact it follows a simple, logical sequence both in the preparation analysis & the execution of the bets.
No fancy indicators or layer upon layer of confirmatory information to work through.
Just one primary (higher) timeframe to get your bearings from & whatever secondary (lower) timeframe you prefer to execute the entry.

No multi layered support & resistance levels to muddy the waters, or contradictory pivots, or subjective fibs, or daft elliot wave patterns etc etc etc....
1) Flick through the charts on your watchlist & identify a clear directional bias on your primary chart.
2) Check you got your nearest upper & 2 lower s&r zones highlighted & the prior day high-low + the prior week high-low levels marked off.
3) Ensure the average days range has sufficient room to offer acceptable risk-reward odds.
4) Wait for the ideal entry opportunity on your secondary chart & providing the stop-loss/profit objective is favourable, off you go!

It's all there in the current (Tech Temps Cont'd) thread & mirrored here in this excellent thread.

[Se7en]

No stamina today Se7en
It's a real floppy friday out there.

You're not kidding man. The liquidity has been shot to hell today by the looks.
Finally got bored with hanging around & cashed it out for +36 an hour ago.

As you say providing you're not playing silly buggers by trading against your primary timeframe bias, you can't really get into an awful lot of trouble. Well I certainly haven't yet anyway.

Ok, well I've gotten myself wet on the thread & chipped a hole in the ice....I doubt I'll bother taking any more positions now this side of Jan 4, so if there's any banter going on in here I'll be sure & look in, if not I'll wish you all a very happy Xmas, a rock solid new year & all my very best wishes & thanks for providing a fantastic resource for us guys still cutting out a groove & finding our feet.

[xerb]

I got linked here from a poster (DoubleEcho) on Babypips who encouraged me to take a look at this thread.

And you kindly linked me here too in search of a private communique with Carll, for which I thank you!

Nice to see one or two already familiar faces & a few who I hope I'll become familiar with going forward!

I am getting more involved next year & look forward to interacting with the regulars on here.

Add me in too. I am also greatly influenced by the TT threads over at BP.

And I'm adding myself to the growing thread membership.
Only 2 days to leisurely cover the content, which I may add is of a very high quality indeed!!

As much as I thoroughly enjoy working through the information & material on those Technical Templates threads, it seems really out of place on Babypips. The participants on Tess & Jocelyn's threads instantly appear much more mature & emotionally stable than the majority of the membership. Some of those popular threads quite often resemble a kiddies playground such is the immaturity of the behaviour.

[xerb]

Here are 3 I've been trading/following recently based on the pre-trade & preparation style advised on the Tech Template & 3 Ducks threads over at Babypips.

I have the gbpcad pair still positioned short until price is able to retake last weeks high, pull back & offer a 60 & 5 minute stochastic hook entry to confirm a possible change of bias.
I will therefore be seeking continuation short entries on the pair this week providing it offers up appropriate opportunities.


eurnzd is quite a bit more visual & obvious in it's current directional bias, & one I traded short leading into Xmas. I'll continue to take a short bias on this pair too until it trades & confirms a potential bias change beyond last weeks highs, which happens to coincide the break through of the 60sma on the 4 hour chart (3 Ducks primer).


and the staple old favourite of most people...eurusd. Again, this pair is signalling continuation shorts, which it has been for over a month now.
I will only consider taking a counter-long view if it manages to trade & hold back above last weeks highs above the 1.3075 region. Until then I'm looking for shorts only.

[hawkmoon]

Your basic structure says to pay attention to the cycle waves of price, for example; higher highs & higher lows moving up & lower lows & lower highs moving down, paying particular attention when this wave cycle meets up with identified support & resistance zones.

Don't lose sight of that very basic yet extremly importent piece of this jigsaw Se7en.
Its the heartbeat & core of everything that drives this technical model.

Failure to trade & close beyond previus cycle highs & lows is an early warning sign of potental exaustion & at the very least, likely consoladaton.

There was a classic exampel of this common technical behavior that played out directly following your final bet of the year on GBPAUD on the 16th December, which by the way was a nice trade that followed the few, but very efective simple rules to the letter (allowing your entery & exit decision makeing to be wholly directed & influanced by the reacton of price).

I'm back in this morning taking another nibble on this gbpaud trade. It's back pressuring the support/resistance level & I've managed to pick it up right on the 5520 entry, giving me a real tight stop just below the round number to check see if the bids are still in evidence.

I'm not looking for a massive deal on this long, just perhaps another knock up towards yesterday’s highs if it has the stamina.

1) You checked to ensure price was continueing to make higher lows & at the very least, equal or higher highs in the stair-step cycle action on your primery timeframe.
2) You checked to ensure there was suficiant upside potental in the average day range, coupled with sensibel risk below your entery to make the bet viable.
3) And you waited for a high probabilaty entery opportunity with the stoch cross at the open of Europe business day to catch the bullish flows.

I am sure you noticed that just one more swing later (on 20th Dec) price failed to equal the previus high at 1.5680 & proceded to fall away making a lower high the following day at 1.5590.
Since then it has been a short pullbacks play instead of a go long dips play.

[goldtop]

Here are 3 I've been trading/following recently based on the pre-trade & preparation style advised on the Tech Template & 3 Ducks threads over at Babypips.
I have the gbpcad pair still positioned short until price is able to retake last weeks high.
I will therefore be seeking continuation short entries on the pair this week providing it offers up appropriate opportunities.

eurnzd is quite a bit more visual & obvious in it's current directional bias, & one I traded short leading into Xmas. I'll continue to take a short bias on this pair too until it trades & confirms a potential bias change beyond last weeks highs, which happens to coincide the break through of the 60sma on the 4 hour chart (3 Ducks primer).

and the staple old favourite of most people...eurusd. Again, this pair is signalling continuation shorts, which it has been for over a month now.
I will only consider taking a counter-long view if it manages to trade & hold back above last weeks highs above the 1.3075 region. Until then I'm looking for shorts only.

Nice simple charts & fully agree with your view/stance based on the technical positioning of the highlighted pairs.
It will still be a little sluggish this week as market players return in dribs & drabs. We won't see anything like normal liquidity until well into next week, so just tread carefully & keep a sharp eye on your bets.

Good to see one or two more thread participants joining over the holiday break.

[bigdog]

an alternative view on the EURUSD. 5 min chart shown below only.

Template as per Carll.
Use 4H chart used for upside and downside key levels. In this case the 4H upside level is very close.
PDH, PDL, PWL and PWH noted.
1H primary with 20 SMA for directional bias (long in this case).
5M with Stoch (shown below) with hook at 20.
Entry trigger is 1-2-3 long @ 2987

[whipcrack]

an alternative view on the EURUSD. 5 min chart shown below only.
Template as per Carll.

1H primary with 20 SMA for directional bias (long in this case).
5M with Stoch (shown below) with hook at 20.
Entry trigger is 1-2-3 long @ 2987

Yep, that'll work too.
Everyone's risk profile will be different, but the generic framework will offer each-way options as per individual objectives.

If you triggered that entry this morning you got a very acceptable stop-loss placement right around the prior days high, for a probe & test up towards last weeks highs.
Good luck with it.

[zilly]

an alternative view on the EURUSD. 5 min chart shown below only.
4H chart used for upside and downside key levels. In this case the 4H upside level is very close.

I like that option too bigdog.
Price has shifted down quite aggressively over the past couple of months & this leg down from end of Oct measures approx 1400 pips, the same amount of the drop of the previous leg down from 4550 to 3150 during August-beginning of October. That 1st retracement popped back up 78.6% before heading back down to print those 2011 lows over Xmas.

I'm not suggesting price will retrace that far on this or any any subsequent move back up, but it's due a little profit taking & relief rally, so your entry based on this framework is a pretty good value bet in my book.

I've got a small channel of potential resistance marked out on the 4 hour chart if it should manage to hurdle last weeks highs & attract some bullish momentum.