Technical Templates

[Se7en]

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.

No worries on that score hawkmoon!
There's only really 2 major things to take into account prior to considering a trade entry & primary timeframe directional bias structure is one of them. I don't do anything until that sequence is in place first – but I appreciate the reminder

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

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.

Nice trade bigdog. And price bounced perfectly off whipcrack's highlighted level which also corresponds with the current average days range.

You couldn't have picked a better trade, or outcome, to kick off the new year with!

[bigdog]

i should add a couple more notes to that trade. May helps others get some context of what prep i do.

1. Based on ADR. I was targeting the 3050 area to fully en-cash.
2. I was a little concerned about the figure 1.3000 ????
3. 1H was making higher lows (adds to long trade bias), this rates very high up there on my check list
4. Initial Stop was 2965. 22 pips. ~10 pips below previous swing low on 5M chart.
5. I generally only trade the London open as I am GMT +10 local time (Australia). 7am - 11am London time basically

Many thanks to Carll for his template.

[Se7en]

A nice shallow pullback overnight during the Asian session opens up another long opportunity this morning as London comes online.
Good risk placement underneath the Tokyo lows coupled with a hook entry offers reasonable potential for price to push back towards last weeks & yesterdays highs with initial target being that channel I posted yesterday (3150-3200).

If price manages to cover the average days range then it will take the price action up to that area today off the current lows of 1.3020

[bigdog]

5m Chart shown below. Same technical template as my previous post.

Note the slope of the 240 SMA (= 20 SMA on 1H chart). Although flattening out there is still a long bias because at the time of the trade:
- 5M is making higher lows.
- 1H is making higher lows.

ADR good.
4H upside zone is 3080 - 3100 which conincides with PDH and PWH. Lots on offer up there I suspect.
I am looking for trades from 17:00 based on my timezone.

[Se7en]

Not today. That's me scratched & out.
It's doing exactly what you thought it would so far xerb, so over to you buddy!

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.

[xerb]

It's doing exactly what you thought it would so far xerb, so over to you buddy!

Yeah, I just don't fancy it from the long side yet se7en. That area around last weeks highs really has to be taken first before I commit any of my money to a long bet.

I'm simply using the basic template guides that Tess, Jocelyn & their colleagues laid down to keep me on the right side of the money & for now it's still telling me to short rallies.
I'm actually preferring to short Euro versus the NZ Dollar (as per my previous post) & Yen at the moment to be honest. The eurnzd short especially is a really easy bet to take given the strong trend still in place.

But as we know things can change in a hearbeat, so it's worth keeping our eyes peeled & taking the advice goldtop issued regards the patchy early year/month liquidity levels.

[jack mason]

5m Chart shown below. Same technical template as my previous post.

Note the slope of the 240 SMA (= 20 SMA on 1H chart).
- 5M is making higher lows.
- 1H is making higher lows.
ADR good.
4H upside zone is 3080 - 3100 which conincides with PDH and PWH.Lots on offer up there I suspect.

Hi bigdog.
You're over in Australia I assume given the timezone you're plotting on your charts.

Nice couple of charts with 2 very acceptable risk (& potential reward) slots available to take a swing at any further upside.
There's certainly a fair clump of offers up there at last weeks highs isn't there. It's experiencing some pretty tough resistance so far this week.

What made you decide on the hourly 20 (240/5m) SMA if you don't mind me asking?
Was it a case of trialling a few & deciding on that one?

Look forward to seeing more of your (& the other guys new to the thread) contributions this year.
The thread looks like it's about to get a whole lot busier with what appears to be more good quality content which is fantastic to see!

[jack mason]

I'm actually preferring to short Euro versus the NZ Dollar (as per my previous post) & Yen at the moment to be honest. The eurnzd short especially is a really easy bet to take given the strong trend still in place.

I wholeheartedly agree xerb, shorting into that handsome trend is a very low risk/high reward opportunity indeed.
You've got yourself a nice bonus again this week judging by the mileage it's made so far.

Hope it continues plodding on for you!

[bigdog]

What made you decide on the hourly 20 (240/5m) SMA if you don't mind me asking?
Was it a case of trialling a few & deciding on that one?

Look forward to seeing more of your (& the other guys new to the thread) contributions this year.
The thread looks like it's about to get a whole lot busier with what appears to be more good quality content which is fantastic to see!

Yes, east coast of Australia. London open currently coincides with the early evening here so a good time to trade for those of us who are part time.

20 SMA/1H is straight from Carll's technical template (see his previous posts on this thread). I personally like the visual input it gives in terms of a guide to directional bias. That together with higher lows (long bias) or lower highs (short bias).

I am an intra day trader only. I always set profit targets as follows:
T1 = 20-30 pips (based on max stop loss of 30 pips)
T2 = ~ADR and T2 >= 2 x Risk

I like to shoot for 65% ADR when its available as well. Now this can influence T1 and/or T2.

Hope this helps.

[kipper]

I personally like the visual input it gives in terms of a guide to directional bias. That together with higher lows (long bias) or lower highs (short bias).

Me too. A lot of people openly dismiss the use of moving averages & lower case indicators such as Stochastics, but the way these guys have advised on their usage & the many examples Carll has shared on how he incorporates them into a simple, basic model is not only very clever but incredibly logical.

I like to shoot for 65% ADR when its available as well. Now this can influence T1 and/or T2.

That really is a cracking trade management guide. Rarely does price fail to touch the 65% adr level, & provided you can get in before price has travelled too far into the days available range, scaling out or fully encashing into the 65% of adr zone is a beauty!!

I've begun to use the 65-70% level exclusively now as my first decision making zone & wherever possible trail up or down behind the 5 or 15 minute swings if I manage to develop an intraday trade into a potential rollover position.
If price fails to touch or trade into that initial zone before I've managed to book some profit first, & begins retracing I don't hesitate to pull my stops up to b/e & register a scratch trade.