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http://img246.imageshack.us/img246/1107/fx322xg6.png
Thanks Roddy good to get some feedback,my system is very simple(well I think it is compared to what you could do with charting) but it works ok.
Each time frame is worked in part on supp ress,so big targets on the daily and smaller on each after that,eur/jpy is doing it now at 156.85 hourly so that was what I would be looking at after it got through 156.94,if through 156.85 on the hourly then look to the daily,yesterdays low of 156.79.
Hope that makes sense of how i look at targets on the different time frames,and glad you guys can see what I have been rambling on about,not easy to explain in tea leaf lingo,will post the eur/jpy chart,also 5min is zoomed in the most,less as they go up but as the time frames go up they show the bigger targets,hope that just made sense.
eur/jpy through 156.85 while I am typing this to test 156.79(may come back to test then keep going,if was on for a trade run stop just above 156.85),also keep in mind how the pairs work together as in opp or same way,so usd/jpy is messy but going same way as eur/jpy.
The watch at daily candle change thing,look at my top line on the hourly then the trend line on the daily,aply much the same to it's same way mate usd/jpy.
The trend line on the 5min is just a roughy,the confirm with the red 15min candle was more for you guys as I have watched them do these patterns for yonks,once you suss the patterns and how it moves you start seeing them.
It is also a bit messy today.
Edit,forgot to put a line on 15min at 157.01,went through it back up then tested 4 times then through so onto next target 156.85 with 157.01 now as ress rather than supp.
Cheers
miner
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http://img459.imageshack.us/img459/6240/fxbbqq7.png
Some rough trend lines but hopefully show what I mean about how these 2 go the same way and confirm each other,but keep in mind that eur/jpy can go out of sink and follow eur/usd ,nothing is that easy ay?.
Cheers
miner
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http://img506.imageshack.us/img506/3644/fxdddnn4.png
Ok last one then bed,I was saying how each time frame going up from 5min gives me bigger targets and overall picture,so if you look at this blow up of the 15min we see 156.79,so if you think I had my 15 min zoomed in a bit tight I had 156.79 as a target on the daily,through it as I type,so again hope that made sense?.
Look at daily on usd/jpy and 120.19 is next target so south like this one.
Cheers
Miner
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Morning chaps,well usd/jpy tested 120.19 last night,it and eur/jpy are looking a bit roundy top on the hourly so maybe back to test 120.19 and 156.58,see how we go.
Cheers
miner
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http://img114.imageshack.us/img114/2562/fxcccpo3.png
A trading "U" the right way up,it went through my top line while I was loading it,look at my hourly bottom line and where it turned for the trend line up.
Cheers
Miner
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I am reading what you post miner! and always interested too. Well I'm out for the night after scalping 20 on Eur Jpy after it broke out of its daily range on the upside and 55 (in demo only )for the AUD/NZD. So a constructive session if not hugely profitable but a win is a win and I'm happy to grow the a/c slowly.:)
Watch out for the volatility later with the NFP at 2:30 am our time.
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Thanks for taking the time with your posts, Miner. Very interesting and much appreciated!:)
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Thanks for the comments guys,now I know how to post charts on ST I will keep posting when I can,although allot may be after the trade has happened as to busy to post if they are on the move,but even with this it will show you what I call trading patterns and then you can look for them.
Trading patterns can be in and out in a flash or can keep you in for a day or two,depends how they play out.
As I don't talk the charty lingo I am glad you now know what I have been going on about by looking at the charts,will try and post comments with them but they will be in tea leaf lingo.
Why I said look at my bottom line on the hourly on my last eur/jpy chart was that it was a ress line (look at the tops of the hourly candles to the left of my trend line),so once it spiked through you look for it to come back and test the ress,and if holds is then supp,then the spike high is ress,so you can work your stop on these lines also.
Anyway rambling on so catch you later.
Good on ya peat a win is a win in this take the money and run game.
Cheers
miner
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Oh and by the way everyone - I have heard from Arco and hes ok, just having problems with getting a decent connection to the interweb after moving house!
stupid telecom.