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Thread: Price reversal points

  1. #281
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    Other likely set-ups.
    If you trade a limited number instruments then you may force your observation to enter a position.
    I am diversified across instruments and time-frames and as such can wait for the trade that just
    "LEAPS OFF THE CHART".

  2. #282
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    Hello All,

    I never do forecasts, however, I think they may be a significant reversal in the stock indices in the next 72hrs.
    I have a lot of charts supporting this. For those of you who can short stock indices, you may want to be alert over this time period.

    Mike, can you do some balance point work on a daily/weekly S&P chart and see if anything "leaps out".
    There are no certainties in trading but I think you guys should keep your eyes open.

    Good Trading
    Steve P

  3. #283
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    Quote Originally Posted by SMPFutures View Post
    Hello All,

    I never do forecasts, however, I think they may be a significant reversal in the stock indices in the next 72hrs.
    I have a lot of charts supporting this. For those of you who can short stock indices, you may want to be alert over this time period.

    Mike, can you do some balance point work on a daily/weekly S&P chart and see if anything "leaps out".
    There are no certainties in trading but I think you guys should keep your eyes open.

    Good Trading
    Steve P
    Hi Steve,

    Sorry, only got MT4 platform, no stocks, futures, etc. Any other way I can help?

    Cheers,


    Mike

  4. #284
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    No Worries Mike,

    Keep focused on your fx charts.

    Thanks for the offer.

    Regards
    Steve P

  5. #285
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    Free image hosting for your screenshots + free screen capture tool

    Price reversal points-20120313-bbik-476kb.jpg


    On the weekly S&P chart, it looks like long bar balance point, and heading into supply zone. also close to round number 1400


    click the link for larger picture
    Last edited by trademonster; 03-13-2012 at 08:39 PM.

  6. #286
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    Thanks Trademonster.

    What are your thoughts on this idea based on your own analysis?

    I am now in sniper mode (15min Charts), waiting for a clear shot IF and only IF the opportunity presents.

    Good Trading
    Steve P

  7. #287
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    Hi All,
    An example of channel trading in action - da-dahh!!
    In short wher red horizontal line crosses long red candle (marked with arrows), and out when it touched the lower channel line, for 16 pips. Channels rock!!


    Price reversal points-20120314-a5sj-146kb.jpg

    Regards,

    Mike

  8. #288
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    HI,
    Does anyone use Gann grids and if so, how do you apply them to a chart? Should they be used only in 45 degree mode or can they be swivelled so that the lines match the channels? Any videos showing how they are applied to a chart would be useful. I can find written descriptions, but a video would be much better.

    Thanks,

    Mike

  9. #289
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    Quote Originally Posted by blott View Post
    Hi All,
    An example of channel trading in action - da-dahh!!
    In short wher red horizontal line crosses long red candle (marked with arrows), and out when it touched the lower channel line, for 16 pips. Channels rock!!

    Regards,

    Mike
    mike, what is the logic behind the red horizontal line and the lower channel where you exited off? How did you arrive at these locations for the lines? Thanks in advance.

  10. #290
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    Quote Originally Posted by duggils View Post
    mike, what is the logic behind the red horizontal line and the lower channel where you exited off? How did you arrive at these locations for the lines? Thanks in advance.
    Hi Duggils,
    The red horizontal line was just to show where I entered after price broke the inner upwards channel. I exited when price hit the outer channel, as that was a likely reversal point back up to the new inner channel line.

    Regards,


    Mike

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