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  • Naked charts with trendlines only

    Hi all, instead of restarting my daily signals thread ihave decided to start a new technical analysis thread that we can all hopefully benefit from.

    The idea behind this thread will be naked charts with trendlines only. No indicators of any kind will be used for determining the trend, our trendlines will do that for us. Fibonacci and RSI may be used on the daily charts only. IF fibo is used, trades will always be at the 61.8% never the 50% or 38.2%. Regardless of fibo, pending orders will be used alot which will make following any trades easier for other people, but they will not be used exclusively.

    I have setup a new demo account which can be monitored here -> http://www.mt4i.com/users/pipstealer/ the ftp update will be running 24/7 the broker is http://www.vantagefx.com/ which is an Australian broker i am currently testing out, only thing is the currency on the demo can only be in USD. Money management is a maximum of 10% exposure at any given time and a minimum 1:2 risk:reward per trade, if this is not possible no trade is entered. Account is $1k in size and lotsize will be limited to 0.02 at maximum per trade,

    WE DO NOT ADD TO LOOSING POSITIONS AT ANY STAGE.

    I will be posting charts before the markets open every sunday with what i think might be good breakouts to watchout for, I will update the charts daily as i have time and as price progresses towards breaking out. These trendlines will only be drawn on H1 or above, M30 or below will not be used here for any purposes. Daily trendlines will always be drawn and never ignored, they will override all other trendlines lower than it, a weekly will override the daily and monthly overrides weekly.

    I will be avoiding what is to be considered high impact news and will be flat 30minutes before said news. Medium or low impact will be ignored. For a good economic calendar please use http://www.dailyfx.com/calendar/ rather than http://www.forexfactory.com/calendar/ the reason for this is FF often displays news as Tentative while DFX shows the actual time, i also feel FF displays some news as high impact when DFX displays it as low or medium at best. In my experience DFX is more accurate in defining the impact the news will have on the markets.

    All pairs that i consider tradable due to trends / volatilty and spreads will be covered, which will be a maximum of 15 pairs at any given time, so plenty of potential.

    Please be aware that if you decide to follow any of these setups at any stage with real money you accept responsibility for any and all trades placed on your account. Dont come crying if you loose money simply because the markets did what they wanted or you over leveraged your trade(s)

    Name : MANUAL
    Email : djvhdkjn!@sdfslj.fx
    Login : 85843
    Investor : yvsq5hv (read only password)

    With that being said on with the show

  • #2
    ok so even though its not sunday i can start now i think, if anybody missed the eurusd boat, dont worry to much we have some other juicy setups just waiting to breakout.

    Here is USD/CHF point on interest would be 1.06000 [ appologies if you are on 4 digit broker but i am not so all prices will be in 5 digits from here on ]






    long above 1.062 to agree with the eurusd decline
    Last edited by syk1kz; 11-08-10, 19:47.

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    • #3
      heres the daily GBPUSD trendline

      Last edited by syk1kz; 11-08-10, 19:50.

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      • #4
        USDJPY DAILY - whats important to note here is the divergence appearing on the daily rsi, and we might be putting in for some sort of reversal as todays candle is looking like a doji

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        • #5
          so out of these charts i would only be looking to trade a usdjpy long if we get a reversal confirmation [ bullish morning star ]
          i would put stoploss at the bottom of the doji if it is confirmed and look for atleast 1:2 risk:reward, probably higher though.

          A break above 1.06200 for a usdchf long to confirm usdchf i would like to see a 4hour candle close above said price, with a stoploss 1.05700 - 50pips and aim for 1.07200 - 100pips for a 1:2 risk:reward

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          • #6
            EURAUD DAILY - heres a juicy setup about to breakout very very soon i think



            i favour the downside

            stoploss 1.45500
            takeprofit - double your entry to stoploss price

            entering short euraud @ market price or 1.43283
            stop 1.45500
            profit 1.39000

            lower than the lowest recorded low O_O lets see what happens
            damn it i forgot to change the lotsize

            and i just noted AUD unemployement news coming out in 5 hours, so i will look to breakeven here and change the lotsize

            ok so we broke even after about a 20pip drawdown, but since i did not change the lotsize i deem this trade learning experiance to double check my settings anyway aud news in 4hours and 18minutes i will be posting a chart closer to the news with what i will be looking to do
            Last edited by syk1kz; 11-08-10, 21:13.

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            • #7
              heres a 4hourly chart of eurusd, using one of the top levels one might think about entering a short, since the eurusd has dropped so rapidly trendlines will hardly be of anyuse here and finding support and resistance will be of better value to find a reentry position, should one occur with a good risk:reward scenario.



              consider 1.2725 and 1.27 support
              Last edited by syk1kz; 12-08-10, 01:04.

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              • #8
                ok so 20mins until news time for aud, i will only be looking to get short should the result come out better than the expected, i wouldnt be surprised if we see a fairly large spike on this news release and i will look to get short above 0.9000, i wont enter there but if prices dont even come close then i will not trade.

                here is a 4 hourly chart of audusd with some obvious support and resistance

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                • #9
                  usdchf coming towards the end of its trendline, keep an eye on this one

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                  • #10
                    nzdusd has broken through its daily trendline, one might wait for a bounce up before shorting ?

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                    • #11
                      EURJPY action here, missed this boat, but i still consider this pair to be range boune, look for rsi on the daily to hit oversold very soon, currently at 35

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                      • #12
                        usdcad daily triangle building up for a breakout

                        Last edited by syk1kz; 12-08-10, 01:59.

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                        • #13
                          gbpjpy triangle ready to breakout


                          and gbpchf

                          Last edited by syk1kz; 12-08-10, 02:08.

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                          • #14
                            for interest sakes, here is an hourly chart of euraud, if i was a scalper of some kind i might be incliced to fade the rally since its so close to the top of the trendline? but im not a scalper so this might be bad advice i dont know




                            heres the daily again

                            Last edited by syk1kz; 12-08-10, 02:20.

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                            • #15
                              after looking at the GBPUSD chart again i came to note that it had actually broken out of its trendline, here it the updated chart which i think is more accurate than than previous.

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