trutt79

trutt79

Pardon me for not cleaning up the chart because I want to use it as a form of reminder how precarious trading can be if I am too obstinate on certain directions in the market and how fast market can change its opinion. Ok, now for A6, i'm ready to take a trade if there is a lower high lower low candle being form on the 1 hour. In classical candlestick...

trutt79 Updated 

Sometimes patience are not always rewarded but it is part of trading which I need to accept. My game plan was to long Gold (GCZ2017) if you have been following my trade ideals. So far, besides the occasionally test on 1288-90 then a false break on Fri early price action which might have been triggered by stop loss orders, there wasn't much trade i'm interested...

trutt79

Hi i just want to flash the chart of A6 because it was one of the hardest to trade recently. The good thing is, i did not trade it because A) My Bullish 4 Hour pattern was not filled B) The down channel broke before i could trade C) The bearish Bat on 1 hour was invalidated when price takes out point X I decided to use this as education material and i'm...

trutt79 Updated 

The nice thing about trading consolidation is that somehow i have reservations about trading too hard and it kinda place me in a neutral perspective that allow me to trade both long and short. I don't have to really trade patterns and simple long short style with reasonable risk to reward can be taken as well. (Usually, risk to reward is about 1.2:1 or 1.5:1, i...

trutt79 Updated 

Hello everyone, this is the second time i took half profit and stopped out on the other. I didn't enter trades prior to Jackson hole and Yellen speeches as i mentioned in one of the trade follow ups. So the dust has now settled, i re-enter on 2444.75. Stop will be above the red zone and target remains intact. However, if it does breakout to the upside, i'd be...

trutt79

I'm quite neutral on crude as price action is largely below 52 and above 44. That are buying and selling within this range and i'm contented with the opportunities that comes with it. A short term 1 hour bearish Bat has appear and i'm ready to short it as past price action does conclude the shorter term that it is likely to trade this way until it breaks this range.

trutt79 Updated 

Been watch crude and see this as long opportunity which if fail will line up a longer term sell pattern.

trutt79 Updated 

The Cypher pattern i was looking on B6 remains intact as it nicely stays between 121.4% to 1618.8%. The trade ideal is the same just some updates on the chart itself.

trutt79 Updated 

There is an underneath nice Bullish bat on the 4 hour, and a bearish channel to trade on short term. Here is how i picture it: Short the AUD/USD with 15min and plan for a longer term entry as the downward channel leads price to the Bullish Bat pattern. My trading on the channel is a vision that price gets overbought on the high of the channel, coupled with...

trutt79 Updated 

I'm stop out on my second position on ES waiting on re-entry near to my zone again. This time, i'm placing my short at 2445 and stop at 2456. Target back to 2436 and 2423. Sorry have to watch so just a quick flash of ideal.

trutt79 Updated 

This rally has good momentum and previously, i mentioned I only take trades when the candle formations are within the zone. Now, at 61.8% retracement, there is a good case when I always use risk to reward to confirm possible setups. Although i am planning to short, it has to be in my favour. I am using a longer term 4 hour time frame to trade so i'd look out...

trutt79 Updated 

My answer is yes and no. Traditionally, it is. In this era of artificially depressed interest rates, the co-relationship is not as strong as before and personally I'd prefer to view each individually. If i'm trading interest rates, i don't really bother about equities. Why bother to confuse myself? I don't trade interest rates spreads, I just want to concentrate...

trutt79 Updated 

The pound has bottomed last few months with a well defined high and low on a longer term basis. In the short term, there presents a lot of shorter term opportunities. One of which is to short the near the channel high on the 4hour chart, or you can pick rallied into short structure and you could also trade patterns. I just saw this Bearish Cypher pattern...

trutt79 Updated 

Previously, I had mentioned the con's of shorting into support structure and indeed on Monday itself, market has bottomed temporarily into my short structure. There are still some gas left in this bull, so I'd be keeping a lookout on a lower high lower low in the Red zone itself before I take interest in shorting it. I want the risk to reward to be favorable,...

trutt79 Updated 

I place a sell stop and was triggered just as i was doing my analysis. Time is tight so if it pops up back to the 61.8% level, give it a short guys. The risk to reward is acceptable and the distribution in volume adds some confidence in this trade.

trutt79 Updated 

Trading can be simple. You do not need 10 factors, or trade enhancers to take a trade. Armed with a simple RSI, knowledge of structure and trend is good enough. Currently, crude oil has found support on a previous support on the daily chart and rallied into the close of Friday. For traders who want to long, well they got it. Now they have given the advantage...

trutt79 Updated 

This is a nice Cypher pattern on a 4 hour chart. I'm now using the 1 hour to pinpoint my entry instead of the usual 78.6% X to C leg. The sole reason is the momentum looks too good to go long. Thus, instead of trading blindly, i opt to wait. If during the process the rally exceed point X, it nullifies the trade and save some bucks for me. 1 Hour already signify a...

trutt79

For pattern traders, watch for a Cypher pattern on the 4 hour chart D point completion at 1268 region. Coincidentally, it confluences with a major bullish structure at 1260-1268 region. In the coming days, if GC rally and hold above 1300, id have to figure another way to get in. As of now, will the 1300 hold against the rally? Again, considering from risk to...