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Rsi Breakout
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Medlem sedan Aug 06, 2009 397 poster
bizWiz
Oct 14 2009 at 08:52
looks like the short side is off for now.
looking at the 1 hour chart: <a href=  target='_blank'><img src= /></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). Bifogade filer:
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
bizWiz
Oct 14 2009 at 08:57
(editerad 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= target='_blank'><img src= /></a>
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
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=  target='_blank'><img src= /></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=  target='_blank'><img src= /></a>Bifogade filer:
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
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=  target='_blank'><img src= /></a>enter is at the top resistance channel, stop should be just above the previous channel peak, target is the channel's support. Bifogade filer:
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
bizWiz
Oct 19 2009 at 18:21
price already tried twice to break the channel with no success:
<a href=  target='_blank'><img src= /></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). Bifogade filer:
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Sleep is for the weak.
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Medlem sedan Oct 12, 2009 4 poster
Rana A. Ahad (Rana)
Oct 19 2009 at 22:45
Hey biz, Thanx for sharing... Nice work... !!
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Plan your trade and Trade your plan
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Medlem sedan Aug 06, 2009 397 poster
bizWiz
Oct 20 2009 at 09:08
(editerad 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=  target='_blank'><img src= /></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. Bifogade filer:
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
bizWiz
Oct 20 2009 at 15:18
first buy zone hit, opened a long trade.
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
bizWiz
Oct 20 2009 at 15:40
second zone hit, opened another trade.
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Sleep is for the weak.
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Medlem sedan Aug 06, 2009 397 poster
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=  target='_blank'><img src= /></a>
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Sleep is for the weak.
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