dr.nys, There isn't necessarily a time projection with those that I know of. cmellon does some work that has to do with time projections. You might check with him to see hwat you think on a time frame.

I trade until something hits my target, regardless of time it takes to get there though. That's just what I personally do.

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Cable's recovery rally has been rejected by the broken trend line and makes a shooting star in the daily chart.

ITD 9 high may have already arrived last Friday at 1.638. Even though the average arrival of ITD 9 high is on Aug 31, ITD has a standard devation of +/- 3 to 4 trading days. And there's a Delta rule saying that if the higher time frame is travelling down, the lower time frame's low tends to arrive on time or late, and the lower time frame's high tends to arrive early.

Since MTD is currently travelling down, it's quite possible that ITD 9 high has arrived 1 trading days early on Aug 28 last Friday. If this is the case, we are travelling down to ITD 10 low due on average around September 8.

Target price is probably at least SMA 100 days at 1.598. This is a critical price level since 1.598 is also MTD 2 low, which if broken, signals that LTD 17 high has arrived at 1.7.

As an alternate, further rally in the next 1-2 trading days is not completely ruled out. However, in my opinion, rally will be limited as ITD 9 high will soon arrive, if not already arrived last Friday.

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My Blog: http://cmellon-deltatrading.blogspot.com/
Twitter: http://twitter.com/deltatrading

Yes Sean Agree With You...




I am Here To make Money And Just Learning Some new Thing That help My ,,,My Trading System/..

In The End My System Works....

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Cheer VINCY

I see, I am still new at trading so I didnt know if many traders traded using time projections or not. I personally dont either, but its always good to see what others say.

Hey Dr.nys

Tell you something True About FOREX MARKET.....


FX is a Beautiful Market When you Understand the Moves and Every Pips Meaning...

Yes Every pips Meaning....


And First Pick Only 2 Pair ,.........Like you are Trading In Gbp/usd... so Just You can pick One More pair if you want...

Dont Go through 4 or 5 pair.. Because Now you are Learning..///


I dont know About Other But You should Go Only 1 or 2 pair...

I just Trade Only 3 Pair..but I know 14 pairs Pair Moves... Because that is an ART ..how you Identify a Other Pair Moves while you r trading Your Own Pair. like I trade very Much Gbp/jpy usd/jpy eur/aus.....

And I Know Every Pips Meaning.... Where? When? how? Why? They All Have a Valid Meaning In FX.....

If you want to get Much Knowledge so You can Send a mail To Sean he will help you to enroll The Course By Free....if I am not wrong.. isn't it Sean...


And second... ONLY HELP COMES BY YOUR OWN SYSTEM.........


Thanks

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Cheer VINCY

Hello folks!

I'm starting (I hope) to recognise some basic patterns.
Are we looking at the development of a 'head and shoulders' formation on the daily chart?
There are new high-lows, but MACD and RSI say not.

I've added a long-term chart, from 2001 to now, including fib lines and retracement. Could we be on for retracement to the blue 38.2% fib line? MACD divergence?

The lows of January and March 2009 have tested the low of 13/Jun/2001 @ 1.36826. Now. does this then show a possible retracement to the 38.2% fib line, before resuming upward movement?

For the long term, it looks like the start of a new long term up trend, but for now, is it time to go short on this pair?
Do you think it will break support and swing low? Trading Signals has a 'breakout 2' short entry.

My analysis is basic, but basic is all I know.
Any opinions will be greatly appreciated.

Thanks,


Lee.

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Hi Lee, I personally agree with your ideas and think the charts are showing the head & shoulder pattern, only that I think the pattern is already complete (see attached) with neckline around 1.634, and that the price has already broken through trendline support at around 1.636. This pattern is supposed to show trend reversal and also seems to agree with the MACD divergence for bearish trend.

Also I noted that the head & shoulders pattern should indicate the price will drop below the neckline a distance equal to the top of the head and the neckline. This also seems to agree with a 38.2% retracement level.

I think you are right there is a head and shoulder formation on the H4 and the price broke it's neckline so if we assume that price will drop below the neckline a distance equal to the top of the head and the neckline we are talking about a short trade to the 1.5685 This is something like 600 pips !!!!!!
Can a pro confirm this pattern????

Thank you for the encouraging responses.

I could only recognise the pattern, not know the components behind it.
I've only been involved in Forex for 10 days, so any ideas are welcome.

I hope that my analysis is correct. For me, the challenge is finding a suitable entry point. 50 pips risk is my limit, at the moment.

GBP/USD is within 100 pips of where it was around the same time in 1995, despite the more recent high-high in November 2007. 1995 crops up in my analysis of other USD pairs below.

Short time span trading was not good for me. I've been too nervous and emotional. I only had two positive trades from that, so I'm turning to a longer term strategy. Maybe it will be better for me. Not looking for year long trades, but maybe several days to a month.

Maybe things will change with the return of the bigger players next week.

USD/JPY has been, on the whole, a downward slope since August 1998, and is nearly at the low of 79.756 which occurred on the 20th April 1995.

EUR/USD is not far from where it was on the 02nd August 1995

Maybe I'm looking into things too deeply now, but the pairs are almost where they were in 1995.

Once again, thank you for your supportive comments.

Regards,


Lee.

Hi KP,

Part 1 link is already expired. It's only stored for several days.
You could post a question directly in my blog, like other people.

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Twitter: http://twitter.com/deltatrading

I BOUGHT GBP/AUD AT 2.0 AND HAVEN'T CUT THE LOSS YET, WOULD IT POSSIBLE FOR THIS PAIR TO GO ABOVE 2.0 AGAIN IN THE NEXT FEW MONTHS??? OR SHOULD I CUT THE LOSS NOW??

AND WOULD AUD GO ANY LOWER THAN 0.75 OR 0.8 IN THE FUTURE, CAUSE I STILL GOT SOME USD AND JPY IN HAND.

THANK YOU FOR ALL YOUR HELP!!!!

Please be a careful trader, no matter how large or small your funds. Weekly on GBP/AUD is big style down, as is GBP on every single currency pair out there. 4 hour stochs are turning, along with 8 hour for a little bit of upward movement from this point, but not much. You might be lucky and get out around 1.9500, hope sp for your sake. Did you hedge it? Most of my positions are hedged if I run into trouble, at some point it sorts itself out, I can then cut the long/short and turn the trade into some small profit along the way.

Hi Can someone explain to me what is hedging? thanks!

Hedging is broad terms means protecting yourself financially. For example, you short GBP/$ and you went +40pips on that bet. Now you're insecure about it and you long GBP/AUD or something just to counter the possibility the position moves against you. so basically counter trading yourself is what it is.

you can also google it.