slick60

Hi SadScorpion I hope you become HappyScorpion when you make your trades. What kind of pips do you look for in your style of 'swing' trading? Thanks Just had a nice signal on the audusd I feel slick60

I would like to update this post as it appears my suspicions were well founded. The euro did move down exactly to the point that I was looking at but the wave pattern still appeared to be extending to me. A snap of a 1 hour chart below shows the wave count that I perceive and am working from. The sharp move down into 5 am to the 1.2407 level appears to be a fifth wave blow off fibonacci related to the 1st and third waves of the structure from the high. A reverse move did in fact come as I suspected and has been counted out in EW on a 1 hour chart. This move from June 1 low has been a continual barrage of 3 wave patterns and this one at present to the Friday high carries the same look. I expecting a pullback retrace and then continuation up into the end this week July 6. An ITD high is due then and may shed some light onto where this move may go into the summer. My weekly charts are showing longer term cycles that say up into Sept this year. We will have to monitor and see where a price projection might take us. hourly 2012-07-01_1857 - slick60's library 4 hour points 2012-07-01_1858 - slick60's library shows a 10 high point due perhaps overnight. daily 2012-07-01_1859 - slick60's library shows a blue ITD 6 high due on average July 6 together with a red MTD 3 high [medium term delta] due in the same time area. Watch these turning points and let price and the market profile tell you when the move is complete for a high probability low risk trade. Good trading people./ take care slick60

Hi MM It depends on your time frame that you are looking at as to whether we are in an up or down trend. Monthly-down; weekly-down; daily-down at present is what I would see. There are EW patterns that will support a move up to 1.2824 to 1.3650 area. That is what I felt we were doing on the June 1st turn with the massive volume that rolled in Rollover in all likelihood.. HOWEVER that being said I do not like the price action from yesterday's low. It is rather anemic and suspect to me at this time with the lack of follow-thru. I look for bottoms and tops all the time in every time frame that I attempt to trade. I do this by observing price action at support and resistance areas, together with an Elliott Wave pattern completing an impulse or corrective move and Delta points that are due on average coming in. More emphasis is placed on moves that are ending at or very near a quarter point and there is a fibonacci confluence at this level. I monitor price action at these areas on market profile to see if we are in or out of balance and preferably above or below the value area. I try to catch an end of auction spike on weak volume for a trade entry. This is catching the tops or bottoms of price moves. As you know anything can happen at any given time in the currency markets - and it does. EW patterns continue to morph into something else, delta points extend or come in early and it ALL DEPENDS ON THEMS THAT HAS THE MONEY AND JUST WHAT THEY WANT TO DO WITH IT! slick60

Shit - so goes life and my continuing chances at good trades fade away one more time because of health reasons. I just clclsuoiretgngvsbkjioseyuoiaerotgfoplki and lkjgdoperugjhfdufucfucuf to get it off my chest. I hope 65 pips is a reasonable reward to what was my 20 pip stop risk. 20 minutes after I left!! To wait once again. I believe my 4 hr 7 low point is now in and the ITD 5 low which should portend to higher prices to come into the 1st week of July. Larger cycles are pointing at this time to a high due sometime in the 1st week of September. We shall monitor and see. Good luck folks slick60 Now need to see some kind of pullback in order to get long I feel.

I have now cancelled my pending long entry order at 1.2442 along with my stop. The market came down in 3 waves from today's high and appears that the overall 5 wave move down is extending. I have posted a potential hourly wave count and possible scenario. I will not be here to take and monitor any immediate action for a trade entry. Will have to wait. Watch price and let it tell you the story. 2012-06-26_0949 - slick60's library slick 60

MM Yes I intend to take a trade there if it occurs while I am home. Have hospital appointment where I have to leave 11am. Right now looks like we cud hit that level soon. I have no idea what you feel is a good RR. Please look above as I said for possibilities. Please let price speak to you at the indicated level. Crystal balls and soothsaying is not an exact science. I use market profile amongst other things to get a more definitive picture at a fib level that I feel fits the picture. Good luck to you and others. slick60 PS- thought I would add, I have a pending limit order to buy 1.2442, front running the 1.2439 by 3 pips.

Continuing with the saga of the euro I would like to post an hourly chart showing an Elliott Wave count that I am following at the present time. This chart represents the © wave of an a-b-c correction known as a flat which normally builds itself in a 3-3-5 form of waves. Note yesterday how the market stopped at a couple of .618 extensions within the wave structure coming down. I am now looking for a completion of this 5 waves down in the area of the 1.2439 price level. Here the final wave will be equal to wave (1) from the high and .382 times the wave (3) with a confluence of a .786 times the center 3rd wave extended. Now this probably will not mean crap to most of you people who view this thread, however the end of the story is that I expect a reversal at this level between 9:00am and 1:00pm today which could move back to new highs as mentioned above in my last post. I will also post a chart showing 4 hr delta points and how they developed since my last post. And why not - show a chart with ITD and MTD delta points as to longer term timing. I really hope some of this may help you. It is all I strive to do on this thread. hourly 2012-06-26_0524 - slick60's library 4 hour 2012-06-26_0525 - slick60's library daily 2012-06-26_0526 - slick60's library You are welcome! slick60

Updating the shenanigans of the euro I have a couple charts. One is the 4 hr with the delta point count and the 2nd is of a daily with the delta pt count on it. Several scenarios at play here (as there always is). Short term I feel we will be retracing to the 2675 1/4 point area for this move bringing in the #4 point high OR it can continue into a later 4 high and move past the Sunday night high putting in a daily higher high and late ITD 4 point which I have now labelled with a question mark. In short we have finished with the high of the retrace move at the #4 on daily chart or we continue to the 2824 level and then down OR it becomes a 1st wave up of a greater retrace that will take us to the 1.3600 to 1.3750 + level before going into the pit of despair. Please stay tuned to "As the world turns" 4 hour http://screencast.com/t/rbuN2AKV6 daily 2012-06-19_0956 - slick60's library good luck my friends slick60

Trading the 6E futures I like to sometimes scalp 5-10 pips at a time with proper set-ups that I use with indicators. I think I have shown this before, however here is another example from the 13th that I made for a friend. I use a 12 range chart and especially follow the Williams %R 14 period indicator looking for extreme overbought and oversold as part of the signal. The 3 minute chart I now use to follow volume tells me if we are getting near a top or a bottom of a move. I also look at how the candle closes with the higher volumes. The 14-3-3 stochastic is a nice indicator to verify the OB or OS conditions most times. It will often lead on a roll over. Bollinger bands also give you a visual reference as to OB and OS. Note on the 3 minute the blue dotted lines. They are quarter points and are very important levels for taking trades. On the example shown I will sell on %R OB just under the 1/4 point in this case. Normally I will see that my signals will take place with the close of a 12 range bar and place an entry order 1 pip above or below that range. Depending on where we are in the larger time-frame I will limit for 5 tics to "test the waters" so to speak. Each large move begins from the small time-frame and for multiple contract traders it may be a good way to position at the top or bottom of a move. I hope this may be of some help to you. 2012-06-13_0605 - slick60's library If you have questions please ask. slick60

Geez, roll over week in the futures got me again looking for a lower low. The futures did mark a 2nd low by 7 pips at the 10:30 time yesterday which I will now address as being the #12 low. Forex missed it by 1 pip. I am now looking for this market to retrace to the 28 plus area in three waves, the first of which is either in or in its' concluding stages from yesterday lows. Will have to see what price says when we see the 1.2800 whole number. 1st whole number above the large quarter of 1.2750. take care folks slick60

I have not been very active lately while following the euro. At present it appears to me that we made a low reverse at least for retrace on June 1. End of month for the bonus boys. At present I feel we are retracing to the 1.2824 area which was a 2nd wave of 5 coming down into the low. I have a 4 hr snap of where we are with my short term delta points and a low is due this evening into early morning. From there I believe we should see the 2nd leg of this move to somewhere in the 1.2800 area. Will monitor to see what the price action is at that time. The low I feel we may see this evening is shown with two areas of confluence on my chart. 2012-06-12_1442 - slick60's library Good luck traders slick60

Here is a snap updating a chart that I posted a month ago in post #3539. This correction is starting to get a little long in the tooth and ITD and MTD Delta cycle low points are due on average on the 22nd. If a turn is due these points may come early but generally not late to the average. If we record a low later in the week that will portend to a further move down. We are coming into support that I see and a retrace to the 1280.00 level that I have been looking to for the past month. 2012-05-19_0617 - slick60's library Good trading folks slick60

For the Diplomatic Negotiator I know that you use the RTH sessions and wonder what you consider a gap to be in same. Is it from the close of the previous day to the open today OR like Dalton from yesterday's low to today's open? Also is there anything that you use to indicate that we may get a gap fill or not through the RTH session? Thanks a lot slick60

I had an inquiry about how I split my profile charts and made an example and thought I would post it here. Maybe this will help some traders hopefully. 2012-05-13_1946 - slick60's library slick60

Sorry about the 4hr chart - erased it. Here it is below 2012-05-09_1609 - slick60's library slick60

We have not talked about the aussie for awhile since it had a fairly long way to run. We are now either at or extremely close to the reaction/turning low in the currency pair at the major quarter parity 1.0000 level. You can see from the two charts where the delta points are due on average and the turn is nigh. Question marks have been placed as we are not certain at this point. The turn here should give us a nice retrace north. Watch for the low today to be possibly tested with the employment data from Australia at 9:30pm e.s.t. 4 hr 2012-05-09_1456 - slick60's library daily 2012-05-09_1454 - slick60's library The longer term daily points are looking quite appetizing at this point. Good trading folks slick60

Mystic I see your t-lines now but what has this got to do with the EURUSD? I do not follow this pair at all. I was giving numbers for the eurusd. Perhaps I misunderstood your question in the post above. slick60

Mystic could you post a couple charts with your trend lines on them so we can see what you are referring to? Thanks a lot. slick Did you mean EUR/AUD?

Hi Mystic What method of analysis suggests 132-134 area for you? I can see 1.3627-32 into June should this auction continue from here. slick60

Hi Macplauz I am in somewhat agreement with you that the chances for a move north exist. I have included here a couple of snaps. One from an older chart with Elliott wave counts on it showing a possible (B) wave completed with a contracting triangle where the 'e' wave broke down. Not totally unusual! The 2nd snap shows my Delta points and the #1 low is due anytime now. It can come later as we are currently in a downtrend mode. As you say with a little more information we may have a chance to make a right decision. Everything looks really really bad for the euro right now so maybe it will go the other way. I like to take a contrary position most times. 2012-05-07_1944 - slick60's library 2012-05-07_1945 - slick60's library slick 60

BUT there really is no constructive participation from traders who know how to trade. If there is they do not show the "how, when, why" of the trades that they took. Once traders know how to really make money I think that is what they do. Geez I sit back and wonder what should I type in this post OR if I should even make this post. I lkjdsklfjopwopeiyuhhgflkepopouioidvshnlkslk nflk f,kmnsdlkffnhdslknjsdf dk,mlsdlkvfc forever. slick

I hope traders got a piece of the action this morning in the euro manipulation at 8:30 e.s.t. I have health issues and was off to see my oncologist at that time of day. Damn I hate to miss a gimme! On a nothing news item in the U.S. about a few less employment claims than expected the market makers in my humble opinion (hah - my opinion is never humble!) rammed the good news for the U.S. the wrong way with the euro. Thank you very much and turned it the right way. The move down was in a new step one of the profile extending the building lower bell curve as shown. There was immediate minus development normal market development and price shot back up on the 8:36 bar as shown on the 2 minute chart on the right. This is a profile composed from 2:00am May 2nd, the European open until the 8:30 splash. You can see the LARGER long liquidation bell curve that has developed as I posted yesterday. Also note now how the market has retraced to the 1.3180's and you can see when I merge these two split profiles together "voila" we will have nearly a perfectly completed bell curve. We have a long tail on the bottom and a long tail above in the profile which will allow it to expand if it so desires into the NFP data tomorrow morning at 8:30 am. Chart on the left is the delta 4 hour points that I follow and you can see the 2 low certainly should be in with this boomerang north. Now we wait for the 3 high - or is it in early? - not really sure at this time because anything can happen in this market. I am still looking for a low to come in below today's low into tomorrow to Tuesday. I sit with baited breath wondering how the market makers are going to try to get me to bend over for them once again. I will remain in the upright position! Good luck traders! 2012-05-03_1655 - slick60's library slick60

Notice in this snap if we break the auctions at the start of the U.S. session at 9:30am we can see a completed "b" pattern and a "P" pattern that is looking complete. Now is the time I want to pay close attention to what is going on as it may bring in a sharp move. It can continue to expand the move as I have mentioned earlier but I look for something new to have conviction with it. That means show some volume with the break. 2012-05-02_1612 - slick60's library slick60

The market profile and bell curve appear to be accommodating what I posted in #217 so far with the upper end of the profile filling to 1.3170. Note on that post the dark goldenrod colored High Volume Node at 1.3141. This has now jumped to the upside above the TPO Point of control (orange). I look for those two to come somewhat together at the completion of a bell curve shape before a new step 1 trade takes off one way or the other unless we have "minus development" in the structure. Minus being one of the 4 steps of market activity do not complete and we go directly into a step 1 which is the break out kind of move which is the most profitable and really is the "go with" trade when recognized. Notice also that there appears what is called a bench developing at the 1.3170 level. This is an area that will normally get filled and taken out so I look for a move north perhaps after the curve completes. The low of this auction could have been forecast in advance to within 1 pip using the "IB". That is the initial 4 brackets range combined on this 15 minute profile. Market generated information does not lie to you. One just has to learn how to use it. I am still in that learning stage but trying to pass on some of my findings which help a lot. 2012-05-02_1506 - slick60's library Good luck people! slick60

Continuing with my last post I wanted to show how this bell curve is developing. I have split the profile approximately at the time of my last post shortly after 10 am. Do you see how each piece of the puzzle fills in with its' own bell shaped curve. This current little guy on the right looks to me that it wants to balance itself at 1.3168 continuing the fill in shape of the larger bell curve profile. I took a demo trade to show myself that it was going to do what I had posted earlier. The move north at 9:45am stunk because it spent so much time at the lower end of that period is really what made me suspicious about how it was going to react at this time. This really should be showing a lot of value can be derived using market profile. http://content.screencast.com/users/slick60/folders/Jing/media/c84f90b2-376d-4f08-8002-a6c1c4953e59/2012-05-02_1218.png Hope this may help slick60