Technical Templates

[jjay]

Guys,
Could you cast your eyes across these 2 pairs & ensure I've marked off the relevant s&r zones please.

could you confirm my next primary resistance zone is 8050-90? It appears the most logical technical area that price will get driven towards.

Yeah, that's fine.
It hasn't revisited since it broke down in May so it'll be a target zone for longs if it has legs on the back of this bullish momentum.

Also I've got aud/nzd on my watch list too & again, I'm ok with the area that price is now bumping heads with at 1.2750-80, the next possible support zone however is a little cloudy for me.
I'm wondering whether the area I've highlighted with the question mark (2620-50) trumps the lower swing support at 2515-40 as my initial target profit zone?

2515-40 is the primary support area & the origin of the bullish move up towards the back end of 1st quarter, so it will definitely attract a lot of attention next time around.
If the price action sets up & signals you in on a short bet off this correctly identified S&R area around 2750-80, then take note of that 2620-50 area & use it as a trade management prompt to perhaps tighten up or adjust your trailing stops.
Just do what's been constantly advised & evidenced on here such as preparing for each-way reactions to the next potentially reactive swing zone & use the consistently effective back-up criteria such as price drivers/influences, directional bias strength & average daily range numbers to assist you in determining the quality of the level in relation to your objective.

Your preparation & technical zone identification is very good.
No problems there at all.

[midgely88]

Long time lurker, first time poster!
I'd like to pass on my appreciation & thanks to all the regulars of this thread for your superb content & information. I'm no stranger to threads on trading forums, but I can't think of one that maintains such a consistently high standard of quality input than this one.

It's very rare not see the price action obeying the correct directional bias or react off one of your support & resistance zones that you identify & post ahead of time. That kind of before-the-fact analysis is rare on these forums.

You're right on the button again this week with the correct directional calls on New Zealand & Australian Dollar. The major plus points with adopting & incorporating this type of approach are the simplicity & duplicity of the information.

I can pull up my 20 odd charts on a Saturday or Sunday, have the S&R zones updated & joggle my pairs into order of preference for the next week easily inside an hour. Monday morning spins around & all it takes is a quick 5-10 minute scan through the selections to confirm my directional bias, pick out the best 2 or 3 pairs to zoom into, lock into my 15 minute trigger charts & wait for my entry triggers to set up.

Thank you all for maintaining this fabulous information platform, it's very much appreciated!

[JimmyMac]

I'm no stranger to threads on trading forums, but I can't think of one that maintains such a consistently high standard of quality input than this one.
The major plus points with adopting & incorporating this type of approach are the simplicity & duplicity of the information.

I agree, it takes some beating....but then I'm biased

It helps that there really isn't a whole lot that can go wrong providing you get your primary directional bias correct. The toughest part of the whole process is the timing of the entries. You're never going to return 100% consistency due to the mercurial nature of the market & it's participants, but the triggers evidenced on here are such that even a negative outcome won't do too much harm if you've got a handle on your risk.

Most novices struggle & fail due to information overload & lack of discipline.
They take way too much analysis onboard & overcomplicate their framework.
Less is definitely more in this game & you can't get much simpler than a price action based dual timeframe approach that utilizes daily range percentages in tandem with key level reaction.

I can pull up my 20 odd charts on a Saturday or Sunday, have the S&R zones updated & joggle my pairs into order of preference for the next week easily inside an hour. Monday morning spins around & all it takes is a quick 5-10 minute scan through the selections to confirm my directional bias, pick out the best 2 or 3 pairs to zoom into, lock into my 15 minute trigger charts & wait for my entry triggers to set up.

There you go.
Keep it as straightforward & focused as that & you'll never be short of good value, high odds opportunities to get your teeth into for as long as you choose to bet on markets.

Glad you enjoy the content & look forward to your future participation.

[O990l6mh]

I had no choice but to register on this forum so I can participate from time to time.

Glad to see yo guys are still around and active.

[kyle morgan]

Glad to see yo guys are still around and active.

Hello Magnus. It will be nice to see you contributing to the thread, welcome!

Welcome also to you midgely88.
It's not difficult to recognise quality it is. Cream quickly rises to the top as they say

Back at the bottom of the previous page on 12th June, strobe re-introduced the EUR/NZD to everyone, reminding kipper to try catch the less whippy & volatile pairs when attempting to identify shorting opportunities on the Euro. That post is well worth a revisit as it encompasses everything about this concept rather perfectly.
Price found support, broke through & offered up a repetitive pullback short set up off a typical s&r zone.

It's now dropped nicely into the next obvious s&r zone at 1.5820-50 where it's currently absorbing the orders before deciding on it's next short-term destination.
I'll be eyeing another possible short (break & pullback) bet on this pair should it oblige as it has done off & through the 2 previous contact zones & you could do worse than to add it to your watchlists given the acceptable average daily & weekly range potential.

[midgely88]

Welcome also to you midgely88.
Back at the bottom of the previous page on 12th June, strobe re-introduced the EUR/NZD to everyone.
Price found support, broke through & offered up a repetitive pullback short set up off a typical s&r zone.

It's now dropped nicely into the next obvious s&r zone at 1.5820-50 where it's currently absorbing the orders before deciding on it's next short-term destination.
I'll be eyeing another possible short (break & pullback) bet on this pair should it oblige as it has done off & through the 2 previous contact zones

Thanks kyle.
I've noticed these prolonged consolidation phases forming in line with the current primary trend many time before from the chart examples you guys have posted, & have noticed that triggering at the top of these clear range barriers when shorting (& triggering at the low of the range barrier when trading long) via Carll's dual timeframe hook offers a much keener risk opportunity.

Would & do you operate that type of early trigger in these typical situations or is it simply a matter of risk attitude & experience through monitoring your own personal results with the different types of technical entries?
I've shorted (with a small stake) yesterday afternoon London time through 1.5880 via a 15min hook, giving me the opportunity to place my stop at 1.5910 (above the round number) seeking a move down towards your highlighted support zone around 1.5650.

If price breaks through this current solid support zone here I then have the option of adding more to my position on a pullback.

[xerb]

I've noticed these prolonged consolidation phases forming in line with the current primary trend many time before from the chart examples you guys have posted, & have noticed that triggering at the top of these clear range barriers when shorting via Carll's dual timeframe hook offers a much keener risk opportunity.

Would & do you operate that type of early trigger in these typical situations or is it simply a matter of risk attitude & experience through monitoring your own personal results with the different types of technical entries?

Both options are valid midgely.
There are pros & cons to either alternative. The one you've mentioned there offers you an early bird entry with exceptional risk & profit potential, the only negative being you could suffer whipsaw exits if the range becomes untidy & volatile or the bids win the day & price moves up off the base & attempts a bullish retreat back up the chart - but that's what stop losses are intended to guard against.

It is however a more aggressive approach than the break/pullback option & as you say, offers a multiple opportunity to build a good core position in a potentially large move. At the end of the day it comes down to personal preference & risk attitude.
You'll gain a better insight into what works most efficiently for you as you become more accustomed to this type of execution & better acquainted with your favoured style of trigger & entry set up.

I've shorted (with a small stake) yesterday afternoon London time through 1.5880 via a 15min hook, giving me the opportunity to place my stop at 1.5910 (above the round number) seeking a move down towards your highlighted support zone around 1.5650.

If price breaks through this current solid support zone here I then have the option of adding more to my position on a pullback.

Great entry & nice preparation.
So, there you have it - you've tasted first hand the very option you described above & are now (perhaps?) benefiting from an add-in entry via the break & pullback that kyle pre-empted & tipped the nod to everyone yesterday.
You now have a head start on the pullback players & can comfortably manage your core bet from a position of strength!

[midgely88]

So, there you have it - you've tasted first hand the very option you described above & are now (perhaps?) benefiting from an add-in entry via the break & pullback that kyle pre-empted & tipped the nod to everyone yesterday.

Hi xerb,
No, I didn't take yesterday's move back into the s&r zone as I wasn't around at my computer until late last night.
I've just taken the add in pullback short now though at 1.5820 (15 & 60 minute hooks + a 5 minute 1-2-3) with my stop back at 1.5850 (the top of the s&r zone).
I've also moved my first trailing stop down to rest at the same level, so I'm figuring if price continues to move down I'll manage both stops at the same time.

[zilly]

Nice going midgely88.
We've got one or two pairs nudging their respective S&R zones this week, with Aussie & Kiwi leading the way v/s Euro.
Euro/Aud reacted off this 1.2370-1.2400 zone for the 2nd time recently on Tuesday, pushed through yesterday & is now pulling back in a typical price action continuation pattern.

15min hooks are in evidence & I'm taking on a short continuation bet around here.
Aud/Jpy, Gbp/Aud, Aud/Usd & Nzd/Usd are also blipping loudly on the entry radar this week, so plenty of choice for getting onboard based on our criteria!

[2Taps]

Nice going midgely88.
We've got one or two pairs nudging their respective S&R zones this week, with Aussie & Kiwi leading the way v/s Euro.

I'll add my congratulations too midgely. Just proves it's not that difficult to set your stall out confidently if you have a simple, uncomplicated framework from which to work.

It's also not difficult to spot the higher odds currencies to focus our attention on when we have quality information to refer to.
A quick glance at the futures confirms the obvious currencies to lock into.
Just look at the smooth, directional price action activity on the AUD & NZD compared to the jerky inconsistent action on the EUR.
The basic adherance to identifying S&R behaviour (on the NZD) doesn't do any harm either does it