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Rsi Breakout
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 14 2009 at 08:52
looks like the short side is off for now.
looking at the 1 hour chart: <a href=  /></a>although there's divergence, the price is making higher highes, and higher lows, which implies it's going to break up from it's current triangle (see rsi). Sleep is for the weak. Attachments:
9.png
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 14 2009 at 08:57
(edited Oct 14 2009 at 09:01 )
if someone is planning to play the long side, breakout of the divergence as seen in the 30 minutes charts will be an excellent entry point.
<a href=  /></a>
Sleep is for the weak. Attachments:
10.png
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 16 2009 at 12:21
no trade opportunities were encountered yet.
looking on the 4 hour time frame, it's seen that price broke the rsi channel: <a href=  /></a>so i'm looking to go short on a retrace, going to 1 hour time frame, i'll wait for the price to retrace to the rsi's channel resistance: <a href=  /></a>Sleep is for the weak. |
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 19 2009 at 11:29
here's a new setup - this is a high risk trade since we go against the trend but the risk:reward is what makes it worthwhile.
<a href=  /></a>enter is at the top resistance channel, stop should be just above the previous channel peak, target is the channel's support. Sleep is for the weak. Attachments:
13.png
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 19 2009 at 18:21
price already tried twice to break the channel with no success:
<a href=  /></a>looks like bulls are fighting the bears. nevertheless, anyway it goes - you can be sure it will be a strong move of at-least 100 pips. if my stop loss hits, i will be looking for a retrace to enter a long trade (i'm currently short as seen from previous post). Sleep is for the weak. Attachments:
14.png
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Member Since Oct 12, 2009 4 posts
Abdul Ahad (Rana)
Oct 19 2009 at 22:45
Hey biz, Thanx for sharing... Nice work... !!
Trade Your Plan And Plan Your Trade |
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 20 2009 at 09:08
(edited Oct 20 2009 at 09:15 )
thanks Rana..
the price broke upside, so i'm looking for an entry to the long side: <a href=  /></a>there are 2 possible entries as seen in the image, and the sl area is the last low of the channel in the 1d timeframe. Sleep is for the weak. Attachments:
15.png
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 20 2009 at 15:18
first buy zone hit, opened a long trade.
Sleep is for the weak. |
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 20 2009 at 15:40
second zone hit, opened another trade.
Sleep is for the weak. |
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Member Since Aug 06, 2009 395 posts
bizWiz
Oct 21 2009 at 10:15
price is looping around the channel trend line, break of the previous low would suggest a trend reversal.
<a href=  /></a>
Sleep is for the weak. Attachments:
16.png
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