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incumunltd
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Everything posted by incumunltd
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MORNING STARS ON 15MIN JOY AND CTSH (prop trades) CTSH completed a morning star on 15 min chart yesterday (tall red candle, followed by a small bodies candle, followed by a tall blue candle that closed three fourths into the red candle's body). I entered on the close of the blue candle. I show the exit point on the chart for this trade; however, I got out earlier because of threatening big snow storm - had to get to the grocery store for supplies. Therefore, when you look at trade results, you'll see I got out long before the trade was completed. JOY completed a morning star on 15min chart also; however this one was a little messy; had to get confirmation before pattern took off. See confirmation patttern on chart. Entered on close of blue candle of confirmation pattern. Because of snow storm had to get out of the trade prematurely as well, but show relevant targets on chart.
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BULLISH ENGULFING ON CTSH AND SMALL SPINNING TOP ON JOY CTSH completed a bullish engulfing against support yesterday on 15min chart for a buy. This pattern consists of a small red candle followed by a tall blue candle which closes above the high of red candle. The entry point is at the close of the tall blue candle. JOY formed a small spinning top on support on 15min chart yesterday for a great buy entry. Spinning tops are really powerful as reversal signals on support or reversal. Entry is at the close of the candle. My exit arrow in chart is a little high - see trade picture for actualy exit point.
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incumunltd replied to TL Staff's topic in Forex
EURAUD - bearish engulfing on .764fib Once again we have a reversal signal (bearish engulfing) on a fib with no resistance to support it (previously we had the hammer on a fib - see hammer analysis). These are usually not strong signals and especially when they happen against the trend. Right now, as long as price remains above pivot, the trend is up and this pattern is pointing down so I don't have very high hopes for it but with fed annnouncement coming, it could cause a retracement down towards pivot before next bounce up. See chart below for pivot and relevant targets. I was taken out of my buy for a profit on vollatility101 and have entered a sell based on bearish engulfing for possible retracement towards pivot. See trades below: I am still in my buy on onepipatatime and have also entered a sell based on bearish engulfing: See trades below: -
EURUSD - could dark cause a retracement down towards pivot? Price completed a dark cloud yesterday against R2. Pivot is still at 1.31412 and as long as price remains above pivot, the bulls have the advantage on the daily chart; therefore, eventhough we see a dark cloud here, it is not an indication of a reversal at this point, but merely an indication of a possible retracement that could take place here towards pivot before we get our next push up. Even if price does trade below pivot, S1 is a weekly pivot which has the potential to also send price up should price make it down there. So, for now the bulls are in the drivers seat but based on dark cloud, there is a strong possibility that we could first see a retracement to the downside before the next push up. See chart below for pivot and relevant targets. My buy on vollatility101 was taken out for a profit by the dark cloud and with the completion of the dark cloud yesterday, I entered a sell to take advantage of the possible retracement to the downside. See trades below: On my onepipatatime strategy I am still in my buy and have added a sell based on the dark cloud. See trades below
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incumunltd replied to TL Staff's topic in Forex
GBPNZD - is hammer once again causing a reversal at the ever so familiar 1.9000 support area? After completing a hammer on S1/S2 support on 01/10/2013, price bounced sharply to the upside confirming hammer at the close of Friday. However, starting on Sunday evening, price retraced sharply downwards back into S1/S2 support and today once again, is bouncing off this support. With the sharp retracement, hammer has been weakened but not annihalated. Pivot has moved to 1.92944 and as long as price remains below pivot, the bears have the advantage and therefore the low of hammer is in danger of an attack. We need a close above pivot before hammer will be able to be a real threat. See chart below for pivot and relevant targets. My sell on gbpnzd was banked with a profit for vollatility101 and then I enterd a buy on vollatility101 at the close of confirmation candle on Friday but buy was taken out for a loss with sharp retracement of yesterday. At the close of yesterday's candle, I entered a sell for test of hammer low and beyond. See trades below. I am currently still in my sell on onepipatatime and I have entered a buy at the close of hammer. See trades below: -
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incumunltd replied to TL Staff's topic in Forex
AUDCAD - is dark cloud merely a retracement or a reversal signal? After completing a dark cloud formation, price has been bouncing off pivot to the upside ever since but staying below R1/R2 which gave rise to the dark cloud formation. Pivot is still at 1.03751 and as long as price remains above pivot, the bulls have the advantage and therefore for now, dark cloud can only be treated as a retracement in a market with a bullish bias. However, bulls need to gain momentum above R3 to get out of the grips of a triangular consollidation which has held the market hostage since November in some form or fashion. Should we get a close below pivot, then dark cloud will be confirmed as a reversal pattern which would bring S2 back into play but for now expect another push towards R1/R2 and even R3. My buy that I entered on vollatility101 with the close above pivot and the negation of shooting star (see previous analysis) was taken out for a loss when the red candle of the dark cloud pierced through my stop. I re-entered a buy yesterday based on bounce off of pivot. See trades below: On my onepipatatime strategy I am still in my buy based on hammer and have also entered a sell based on dark cloud. See trades below: -
AUDUSD - has dark cloud re-established upper rectangle line for another push down. Price completed a dark cloud on the upper trend line of the daily rectangular consollidation. The first candle of this pattern closed above the trendline almost reaching R3 but it's important to note that price has to sustain momentum above R4 before it can safely rid itself of the clutches of this rectangle, so eventhough it looked like a potential break-out, it was not yet confirmed as a break-out. Confirmation would come with a close above R4, instead the next candle closed below trendline again completing a dark cloud formation. Pivot has moved to 1.05205 and as long as price remains above this pivot the bulls still have the advantage which means we could see another attack on R2 thru R4. Until we get a close below pivot, dark cloud can only be treated as a retracement in a consollidation with a bullish bias. Should we get a close below pivot, then dark cloud is confirmed and we could see another push down towards S targets. See chart below for pivot and relevant targets. I have tightened my stop on my buys in both the onepipatatime and vollatility101 strategies locking in profits in both and I have also entered a sell based on dark cloud on onepipatime strategy. See trades below:
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[quotePrice negated dark cloud continuation pattern mentioned in previous analysis with the completion of a tall blue candle yesterday that closed in the R1 zone. This is clearly bullish with price now testing R2 at the time of this writing. As long as price remains above pivot, the bulls are in control again. See chart below for pivot and relevant targets. IQUOTE] Price is currently testing the R2 zone illustrated in chart that went with above post. I am attaching chart pic again for refernce purposes. Any pull back at this point can be regarded as a buy opportunity as long as price remains above pivot. Targets still relevant.
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incumunltd replied to TL Staff's topic in Forex
EURAUD - bullish engulfing sends price soaring Price completed a bullish engulfing pattern yesterday, confirming the hammer which was formed on 01/07/2013 mentioned in previous analysis. Because this hammer formed on a weak support, it was challenged and the low was penetrated temporarily; however, it held its ground leading to the completion of bullish engulfing yesterday. See chart below for privot and relevant targets. I banked a profit on previous sell on vollatility101 and am currently in a floating profit based on a buy I entered at the close of bullish engulfing yesterday. See trades below. I also banked a profit on previous sell on onepipatatime. My buy that I entered based on hammer was kicked out for a loss when price penetrated the low. I re-entered buy at close of bullish engulfing and this trade is in floating profit right now. See trades below. -
EURUSD - dark cloud continuation pattern negated - bulls are back! Price negated dark cloud continuation pattern mentioned in previous analysis with the completion of a tall blue candle yesterday that closed in the R1 zone. This is clearly bullish with price now testing R2 at the time of this writing. As long as price remains above pivot, the bulls are in control again. See chart below for pivot and relevant targets. I entered a buy at the close of tall blue candle on vollatility101 yesterday after taking a loss on a sell. Patterns are powerful but when they fail, their failures are just as powerful because you have a predetermined stop that manages your risk and you have the opportunity to get in in the other direction because a pattern failure is usually a clear indication of change of direction. My sell was kicked out for a loss on onepipatatime as well; however, I was already in a buy based on an entry point specific to this strategy and this buy is in a great floating profit at the moment. See trades for both strategies below.
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JOY - piercing pattern delivers 32point move Price completed a piercing pattern on 15min chart yesterday presenting me with a buy opportunity which I entered trailing my stop manually as trade developed. See chart and trade below.
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incumunltd replied to TL Staff's topic in Forex
AUDCAD - shooting star negated - hammer rules! For a while now, I've been asking the question whether the hammer formed on 12/27/2012 was going to be a threat to the head and shoulder break-out and more specifically to the shooting star that formed on 01/03/2013. Well, the verdict is out - hammer rules!!!! Price closed above high of shooting star and pivot yesterday leaving the bears in the dust. This is the wonderful thing about pattern trading. They terrific when they work and they're terrific when they fail because you have a predefined stop and when they fail, it's a powerful signal to get in the other way. See chart below for pivot and revised targets. I had a sell running on onepipatatime based on dark cloud and on vollatility101 based on shooting star and both were taken out for a loss. At the close of yesterday's candle, I entered a buy based on the failure of the shooting star on vollatility101 and I was already in a buy on onepipatatime since the completion of the hammer. See trades below. -
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incumunltd replied to TL Staff's topic in Forex
WOOHOO - GBPNZD has reached its first target!!!!!!!!! After completing a confirmation candle to the dark cloud formed before that price has plummeted all the way down to first target (S2) and still going. Don't you just love it when a pattern comes together? See chart below for pivot and relevant targets. I am currently in a sell on vollatility101 and onepipatatime. You can sign up to free signals here. See trades below: -
AUDUSD - is hammer continuation pattern going to cause lift - off? After price completed a hammer continuation pattern on pivot, it has been challenging R1/R2 repeatedly without success. Are the bulls going to bust through this tough resistance or not? Can hammer cause a lift-off towards R3 and beyond? As long as price remains above pivot, the bias is to the upside and the bulls have the advantage which means we will continue to see R1/R2 challenged and attacked. Should bulls bust through this resistance, next one is an even bigger challenge (R3) which is also the top of rectangular consollidation mentioned in previous analyses. So, the most we can still say, is that the bulls currently have the advantage inside a much bigger consollidation. We need a decent break-out above upper trendline of rectangular consollidation before we could speak of a lift-off. See chart below for pivot and relevant targets. I am currently in a buy on vollatility101 which I entered based on tall blue candle mentioned in previous analysis. See trade below.
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EURUSD - dark cloud continuation pattern adding strength to gravestone doji bearishness Euro price has completed a dark cloud continuation pattern below pivot which is very bearish as this pattern is adding strength to the gravestone doji that caused the bearish reversal to begin with. We need a close below S1 for momentum based on dark cloud to increase towards S2 and beyond. Of course, should we get a close above pivot, then our dark cloud momentum fizzles out and is negated. See chart below for pivot and relevant targets. This dark cloud has give me reason to remain in my sell on vollatility 101 and giving me the opportunity to tighten my stop. See trade below
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CTSH - tall red candle delivers 77 point move CTSH completed a beautiful tall red candle yesterday morning on the 15min chart giving a short entry point. I entered the short at the close of this candle and around 11:15am price completed a shooting star continuation pattern which gave me reason to remain in the trade, trailing my stop manually and eventually banking a 77point move.
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incumunltd replied to TL Staff's topic in Forex
EURAUD - hammer on .236fib - does it mean anything? Price completed a hammer yesterday on .236fib; however, there is no support in sight besides the fib and if a fib isn't undergirded by a support or resistance it doesn't have as much punch to it. The reason why this hammer is mentionable however, is because price is still above pivot which means the bulls do still have the advantage in spite of sharp retracement to the downside as long as price remains above pivot. See chart below for pivot and relevant targets. Because bulls still have the advantage, I have entered a new buy on "onepipatatime" after banking profits on a previous buy. I am also in a profitable floating sell on this same strategy at the moment. I am currently in a sell on "vollatility101", trading the retracement and will hold that sell until I get further confirmation on a buy based on the hammer. -
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incumunltd replied to TL Staff's topic in Forex
AUDCAD - is shooting star going to dominate hammer? In my previous analysis I pointed a hammer out and asked the question whether this hammer was going to be a threat to the bearish bias. Since hammer formation, price has repeatedly tested S1 without success and finally completed a shooting star against S1 on 01/03/2013. So far this shooting star is holding its ground sending price down. Pivot has moved down to 1.03751 (the high of shooting star) and as long as pivot holds, the bias remains to the downside; however, it is also important to note that until price can drill all the way down through S5, the possible H&S target illustrated on chart is going to be a difficult one to attain. Should price manage to close above pivot, then bulls will have the advantage again. I trade two of my own strategies called "vollatility101" and "onepipatatime". Currently I am in a sell on "vollatility101" which I entered on the break-out of head and shoulder and I am currently in a buy and sell on "onepipatatime". I entered the sell with the completion of previous Dark Cloud illustrated on chart and I entered the buy with the completion of hammer -
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incumunltd replied to TL Staff's topic in Forex
GBPNZD - dark cloud confirmed Price completed a dark cloud on 12/27/2012 against R2 and today this pattern was confirmed with a close below pivot. This means that bears have once again gained the advantage and should price remain below pivot, the S1 cluster is the first target. Potential huge move!!! See chart below for pivot and relevant targets. I entered a sell at the close of dark cloud and this trade has a floating profit at the moment. I have banked two buys, one profitable and one at a loss with overall profit between the two and have also entered a new sell at the close of confirmation candle today. -
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incumunltd replied to TL Staff's topic in Forex
EURAUD - hanging man causing huge retracement to the downside After completing a hanging man on 12/28/2012 against R6, price has plummeted post fiscal cliff vote and is currently testing R2 in what is proving to be a huge retracement to previous bullish move. As long as price remains above pivot, the bias remains to the upside and therefore this move down can at this point, only be considered a pullback for another push up. See chart with pivot and relevant targets below. I banked a good profit of 306.2 pips on a buy and am currently in a sell with a floating profit which I entered at the close of the hanging man. -
AUDUSD - tall blue candle trading way above pivot this morning - what does this mean? Audusd bulls are making quite an impressive footprint this morning. So far we have a tall blue candle already licking at R4 this morning after busting through pivot and R1 thru R3 like they weren't even there. Should we get a close above pivot today, then the bulls have taken back the advantage and we have a temporary bottom at S1. It's important to note though that Audusd has been in a big rectangular consollidation since September which means bulls have established a temporary bottom with a slight advantage within the consollidation. Therefore, should price close above pivot today, we can see recent resistances challenged again but we can't talk about real direction until price closes above or below consollidation on the daily chart. I banked profits on a couple of sells and now I have a profitable buy floating in the market. See chart for pivot, revised targets and rectangular consollidation.
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EURUSD - gravestone doji exerting authority this morning After forming a gravestone doji on 12/19/2012, price has been bouncing between the high of this pattern at R1 and pivot. As long as price remains above pivot, the bulls have the advantage and this is why we saw another challenge of R1 today. However, our gravestone doji exerted authority with this challenge and price is once again testing pivot. We need a daily close above R1 or below pivot for direction. See chart for pivot and relevant targets.
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incumunltd replied to TL Staff's topic in Forex
AUDCAD - is hammer a threat to head and shoulder break-out? Audcad price completed a hammer today against S3/S4. Until bears can get through S5, the break-out from the head and shoulder mentioned in previous analysis remains vulnerable to a reversal and the hammer forming in this support area could spell danger for the bears. However, as long as price remains below pivot, the bears have the advantage and therefore for now, any bullish move below pivot will be treated as a mere retracement in a bearish market. Should price close above pivot, the bulls will be back in the drivers seat. See chart for pivot and relevant targets. I am in a sell in both my vollatility101 strategy and onepipatatime strategy. I have also put in a buy on my onepipatatime strategy at the close of today's hammer.