Some of my forecasts

[4xpipcounter]

This is like a hobby to me. You got a long list of questions, odds are I got a long list of answers.

There are many different methods of trading being talked about in this forum. My methodology is well documented with the ichimoku, my proprietary S&R's, stochs, TL's and price action. There are many other threads that have excellent methodologies to learn and teachers to learn from.
This is where you have to experiment with the different indicators, then try to see in the indicators what the ops see. As you progress, something will stand out, and then you will start developing an affinity towards certain indicators or approaches to the markets.
At that point trade with, along with the insights you learned on a demo account. Keep doing it until you have gotten really good on a demo. I'm a good trader, but believe it or not, I still demo trade. I do it just to prove to myself my methodology works on any given market. I also do it because certain demos I need because of the markets, so I execute trades on them just to let the brokers know I'm still around.

Another key point, use this forum as a learning venue, but no matter who is teaching the concepts, make sure that in the learning it is something you have learned and it has become personally convictional. As an example if you say you got a winning trade based on the candle falling out of the cloud because 4xpipcounter said so, you missed it. But, if through proper experimentation and learning you saw that is my indicator because it works for me and I have proven it to me, then you are no to something. You are now ready to make your mint in trading.

OK fine I will keep this in Mind . So what can i Do now to learn about market and how to read charts . Where to invest and when is correct time . Long list of Question ......

 

[4xpipcounter]

@ Adit: I toko your chart and marked it up.
@ Scorpio, this is one way of trading which is what we would call price action. When you have a low low, swing high, and then a move to challenge that previous low, but does not make it, you have a 1-2-3. The 2 is the peak. By entering at that point it yields wonderful trading opportunities, and they happen everyday.

Notice there is a series of 1-2-3's. The best entries on the 1-2-3 are the bullish at the end of a downtrend, or the bearish at the end of an uptrend. Nevertheless, pips/ points can be made on all setups.
You may recall I have talked about that I use 61.8% of the distance of 2>3 and then extend that from the 2 to ascertain a TP. I use 61.8% as a conservative TP. Please notice on every 1-2-3 that the distance is at least 100% in every case. That is always the rule that 2>3 will always be equi-distant of 2 to the new peak.
The rules do get skiddish when you are 3 legs or more into the trend, even though on your chart that was not the case.

image upload

 

[timepass]

Hi Paul Sir.... The following is Reliance Infrastructure's 2min Chart.... Was following it live.... Initially we had a bullish 1-2-3 marked as Purple.... but at the same time there was a hint of bearish 1-2-3 formation as well which is marked as Sea Green....

@ Adit: I toko your chart and marked it up.

You know what... I would see it simply in terms of higher tops and higher bottoms combine them with stochs & RSI and scalp the next leg up for a few points...

 

[4xpipcounter]

Timepass, that's another way of looking at it.
Based on your comment is why the 1-2-3 is so effective at the end of a trend.

You know what... I would see it simply in terms of higher tops and higher bottoms combine them with stochs & RSI and scalp the next leg up for a few points...

 

[4xpipcounter]

I've got the Weekly Review coming up. That way you will have something to go with your morning coffee.

I'm looking forward to getting to the Weekly Forecast. The USD is going to be on steroids next week. It's going to be fun!

 

[4xpipcounter]

Weekly Review--030412

EUR/USD: The current level of the UP TL is 1.3157, which is well above the WS1 at 1.3117. Either the downside is extremely limited this week or the drop is going to accelerate. It is looking like the latter scenario is going to prevail. If that does happen, then 1.2980 has to be treated as the next decision point.

This was a strange and volatile week for this pair. The TL was broken, and then it was a strong move back over it, and then another strong move back under it. After drawing the new one, the pair stopped right at the top. AS it turned out the dip was 1.3095.

USD/JPY: The WS1 at 81.25 should contain, we see this pair rise higher. The MR1 at 82.69 and the WR2 at 82.81 should be an R zone this week. MT, it now appears this pair is head to challenge the weekly kijun at 85.26.

The peak fell short of the MR1 by 6 pips at 82.63.

GBP/USD: The 4-hour TK combo at 1.5898 and the WR1 at 1.5881 is a strong R zone that should contain this week, as we see this pair drop lower to a cluster S area that includes the WS2 at 1.5723 and the MS2 at 1.5724. MT, the 1.5648 swing low is vulnerable. A break of it and this pair could be challenging the 1.5200s over coming weeks.

The WR1 at 1.5881 was the peak exactly. The pair gave its best shot on the swing low as the dip was 1.5661.

USD/CHF: The sharp rise that ended last week should be favored to continue this week. The MR2-WR2 area of 9246-.9251 looks like solid containment for the week. MT, the bottom of the daily cloud at .9300 has to be absolute containment, or the entire DOWN could be over with.

The peak was .9206.
Note: That is only half the story for this pair. Stay tuned for the Weekly Forecast.

AUD/USD: How many times have I put it in print this pair is headed to challenging the all-time high at 1.1079 and braced to break it? That view has not changed. To start the week, we could see a move to challenge the MS1 at 1.0652, and then we see a sprint towards the WR2 at 1.0841.

This pair shunned the northern lights. The MS1 was not only challenged, but hammered. The dip was 1.0509.

USD/CAD: The MT drop to the bottom of the weekly cloud at .9707 is still on. The drop will continue this week, but there is room for recovery to the cluster R area of .9945--.9954, which includes the WR1 and MR1 respectively. Afterward the drop should resume to the WS2 at .9774, and maybe lower.

This pair peaked at 1.0027, then got scared of the heights and took the express south to the dip at .9871.

NZD/USD: This pair is in for a sharp drop to the top of the daily cloud at .8104. The key point that will signal that is the recent swing low at .8244. Any correction should be contained at the cluster R area of .8340.

Things went as planned as the dip was .8099. There was no correction to speak of as it started the week right where it left off the previous week.

EUR/GBP: When you think of 1.1079, you can only think of the Aussie, as that number has beaten up and seen many times in previous forecasts. The magic number for this pair is .8167. That is the bottom of the monthly cloud, and we are still waiting for it to be hit. The strong impulsive move that ended last week confirmed that and containment is now the WR1 at .8384. There is a strong cluster event for this week waiting at the WS2-MS2 combo at .8238.

This pair is still taking on the appearance it wants to form a base on the daily, as the dip was .8317.

EUR/JPY: There is a strong ichimoku cluster event at 108.01, which is the 4-hour tenken/kijun/top of the cloud. If that does not hold, then 108.48 better or the corrective DOWN is over. OTOH, if the WS1 at 107.18 is broken, then this pair could have 105.92 staked out this week.

It fulfilled the staking out as it dipped to 105.64. The peak was 108.64, but reversed sharply, so there is still no confirmation that the corrective DOWN is over.

GBP/JPY: The UP should continue to the top of the weekly cloud at 131.13. There is plenty of room for the corrective move to the daily tenken at 127.71, and that should be the range for this week.

This pair showed how good the reverse gear works, as it was a sprint to the dip at 126.53, the recovery took the pair back to 129.74.

 

[4xpipcounter]

Weekly S&R's--031112

R3 r2 r1 s1 s2 s3
eur/usd 1.3315 1.3227 1.3173 1.3067 1.3013 1.2925
usd/jpy 84.56 83.60 83.03 81.87 81.30 80.34
gbp/usd 1.5884 1.5784 1.5724 1.5604 1.5544 1.5444
usd/chf 0.9319 0.9256 0.9219 0.9143 0.9106 0.9043
aud/usd 1.0805 1.0699 1.0635 1.0507 1.0443 1.0337
usd/cad 1.0058 0.9988 0.9945 0.9859 0.9816 0.9746
nzd/usd 0.8417 0.8322 0.8264 0.8150 0.8092 0.7997
eur/gbp 0.8451 0.8414 0.8391 0.8347 0.8324 0.8287
eur/jpy 111.22 109.83 108.99 107.31 106.47 105.08
gbp/jpy 132.45 130.96 130.07 128.27 127.38 125.89

 

[adityasaraf007]

Hi Paul Sir.... I am back with another Chart on 1-2-3.... This one is TataMotor's Daily Chart.... Once again I have marked two different areas.... In each of the areas we can see the formation of 2 bullish 1-2-3 patterns.... If you were to trade these two areas when would you have entered and where would you place your SL....

We may also call these areas as Triangle formation.... But I would want to stick to 1-2-3 for the time being....

 

[rajesh.sadhanala]

Raj, I've been long the USD/JPY, and I feel it is going to be pushing the EUR/JPY. The EUR/USD should be limited to the upside as 1.3182 should contain.

Wow your long in USD/JPY did really good. Quite an impressive run. I didnt dare to enter as I am waiting for pullback from last few weeks.

Regards
Raj

 

[manoharpillai]

Aditya.... Paul is an expert to read ichi and eagerly await for his reply, in the meanwhile i trade Tata motors i like to share my view with you ... Double Top Break out on close above 288 targets are 295-302-314 and weekly pivot at 275 will keep it as SL
will buy either on break out or close to Sup.275.