Technical Templates

[Carll]

Very thin trading during yesterday's New York session & the same conditions are expected throughout today's business hub, so a little caution won't go amiss when attempting to leg into bets.

The current lower high hourly cycle on eur/usd has been snapped with a close above 2915 & fresh intraday (sub-hourly) cycle to the upside will be confirmed on a push through yesterday's high beyond 2940.

2 good points you make there & i agree with both.
The second one is especially relevant, so much so i've underlined it's importance.

These cycles can & will be traded based on & according to the individuals risk attitude.
But the structure & concept remains the same regardless.

1) Current & relevant support & resistance zone awareness will offer a heads up & assist in firming up decision making.
2) An awareness of the available ADR will offer a heads up & assist in firming up decision making.
3) Key level awareness (prior day high/low etc) will offer a heads up & assist in firming up decision making.
4) Pattern recognition (1-2-3's etc) & cycle awareness will offer a heads up & assist in firming up decision making.

Once you have a simple, uncluttered structure or framework that you can consistently apply quickly & easily across multi-timeframe combinations & varied asset/instrument classes, it makes the execution & trade management decision process easier to implement & control.

[jcpfx]

Good Morning Pipsters,

Given the extended weekend environment due to Sandy, I was doing some surfing on the net and reached this forum... sometimes the best things in life happen by chance!

I have gone through the material presented here and - don't laugh - it took me 6 months to reach the same "style": cycle perspective, time frame combo, demand/supply areas, and obvious levels. To this, I have added a 20sma which I feel the market "likes" a lot on all time frames.

So I hope to learn & contribute along with all of you in here. I have been trading full time for around 1 year now and in my experience this thread summs up all the "technical" aspects of trading...the rest is only psychological.

So onto today's trades:

Short EurJpy 102.84 SL 103.01, 1/2 closed 102.75 and 1/2 at 102.65.
Long EurUsd 1.2921 SL not set as I would have exited on a hold below 1.2918, Profit on 1.2935.

Not much space for other trades today...missed the entry on ES_F.

As soon as I get familiar with the images I will post the trades.

May the pips be with you today!

[jcpfx]

EurUsd 5Min Long



EurJpy 5Min Short

[midgely88]

I know spotfx has been scaling into usd/cad to the long side & that is evidenced by that very trendy higher low step (1-2-3) up through parity off the 0.9900 round number higher low step last thursday.
.......& the last higher low step at the parity level will be the violation point for this leg up.

& knowing his aggressive style he'll be all over this cycle violation & potential bias flip to the downside!!
early birds quite often catch some nice fat, tasty worms

[jcpfx]

1H view of the flip level long setup. 2/3 sold at 1.2510 and rest holding with stop at b/e

[jcpfx]

1H view of the flip level long setup. 2/3 sold at 1.2510 and rest holding with stop at b/e

Update: closed the rest at 1.2520. Done for today.

[zilly]

Yeah, that's a nice pick up.
It obliged with a pretty clear 1-2-3 bounce off that 2450 support too on the 15m.
If it can grab a hold onto 2550, the next logical step is the 2585-2600 area.

[jcpfx]

Hey Zilly,

thanks for the follow up. It wasn't the 1-2-3 that got me in here, as 1.2493 had been offered well and as long as it holds, it holds. So I waited until 1.2493 was being bid to the upside and stepped in...

wish they all went so well

[visualxray]

It wasn't the 1-2-3 that got me in here, as 1.2493 had been offered well and as long as it holds, it holds. So I waited until 1.2493 was being bid to the upside and stepped in...
wish they all went so well

one of the huge pluses for the type of approach these guys have presented here over the past 3+ years is the fact a standard, all embracing logical structure can be traded from a variety of different angles (timeframes & triggers etc) without compromising the core value of the set up.

it's very rare such a feat can be accomplished so consistently, & that is a great credit to the minimalist approach & the highly efficient use of market momentum.
it's also testement to the professional & succinct way in which the material is delivered that so many people with different experience levels have grasped the concept, run with it & are maturing quickly.

[jcpfx]

Hey VisualXray,

yeah, wish I would have discovered this thread earlier... I was let go of my prior job in march and since, I have only been studying & demoing until the end of summer after achieving consistency. I went from bollinger bands (effective in some ways) + CCI + adx + 100 + 200 + 20 sma to creating my own indicators to finally the charts you see posted. It took me many many many 14 hour days to study through everything, end up nowhere and then retrace back to the basics.

Don't get me wrong: whoever thinks that even trading correctly is easy (even with the pointers given here) is way off. I still think i'm nuts... "professional coin-flipping" is what i define myself as right now.

You guys have come a long way and I hope that together we can keep it simple and stay profitable.

Cheers