Hello all !

[raspypook]

Hi EVERYONE, I'm Raspy! I'm not new to trading. I was searching for an alert system for candlestick patterns and helping another friend when I came across THE FOREX GUY. So I decided to sign up and I'll see what I can contribute and gain out of it as well )

I have been trading using candlestick patterns and chart patterns all this while, so if you see me attach a post, there'll always be something related to chart patterns

Nice meeting everyone. See u all in the chat room!

 

[Rico]

Hi Raspy, it'll be interesting to hear about the patterns you find!

 

[raspypook]

Hi Rico, I'm currently Long CHFJPY. Cup n Handle pattern. See if u can spot it on the daily chart.

I'm also Long AUDJPY. It's a double bottom pattern. Both were triggered yesterday n today.

Cheers.

 

[Rico]

Hi Raspy, i'd never heard of the Cup and Handle pattern so had to get a little education and look that one up. I gather it's the one that starts on 11/3? I wouldn't have picked that since the handle looks a bit indefinite to me. But so far so good.

The small reversal bar at resistance made me equivocal about AUDJPY yesterday, so i didn't trade that. I also didn't pick up on the double bottom, since it looks a bit slight. This one has moved in the opposite direction - do you have your stop at the bottom of the 30/3 bar or was it tighter (or looser)?

I went with a sell of GBPUSD, which may work out, except i got taken out because i put my stop above the 29/3 bar instead of 30/3.

 

[raspypook]

Hi Raspy, i'd never heard of the Cup and Handle pattern so had to get a little education and look that one up. I gather it's the one that starts on 11/3? I wouldn't have picked that since the handle looks a bit indefinite to me. But so far so good.

The small reversal bar at resistance made me equivocal about AUDJPY yesterday, so i didn't trade that. I also didn't pick up on the double bottom, since it looks a bit slight. This one has moved in the opposite direction - do you have your stop at the bottom of the 30/3 bar or was it tighter (or looser)?

I went with a sell of GBPUSD, which may work out, except i got taken out because i put my stop above the 29/3 bar instead of 30/3.

 

[raspypook]

Hi Rico, I'll try to reply to u as quick as I can but I'm usually out to work early n back late. I'll find pockets of time to reply u.

The cup n handle pattern or inverted cup n handle pattern are both great patterns to trade. You might want to go to thepatternsite.com to check out.

I learnt all my chart patterns by buying his book.

 

[raspypook]

Hi Rico, for AUDJPY if you want a tighter stop loss then wait for a swing low to appear on the Daily chart based on TFG 10/20EMA and place your stop loss just below the swing Low.

 

[Rico]

Don't worry about replying quickly, Raspy - i can wait. Thanks for the link to the pattern site.

With AUDJPY, it's just not a trade i would have taken, but i did wonder where YOU put your SL.

 

[raspypook]

Hi Rico, Gold is currently forming an inverted Head n Shoulder pattern on the 4Hr chart. If it breaks resistance I'm in.

 

[raspypook]

Don't worry about replying quickly, Raspy - i can wait. Thanks for the link to the pattern site.

With AUDJPY, it's just not a trade i would have taken, but i did wonder where YOU put your SL.

Hi Rico my current stop loss is at the 20EMA at 85.00. Because the pattern breakout wasn't a strong one, I'm guessing a backtest might occur below the support line.