Last Breath b4 Going Under: A NEW...very profitable concept (at least new to me)

[RPM]

I will attmept to annotate at least 3 such charts of this phenomenon

But anyways, basically; when a stock is channeling for an extensive period of time (like during this slow volume week)......it will often fake a move......and then pull extremely fast in the opposite direction........almost as if it is using a diving board to JUMP UP.....and then Dive into the POOl..........lol.

Hence, I call this my "last breath method"

Designed to produce gains in excess of 25-30 PIPs in less then 30 minutes.

[GodofStocks]

Ahh yes ... and we def. saw this earlier on the USD / JPY

[RPM]

Basically i made 40 PIPs in about an hour.....because i was patient........

thats like MAKING 35k in one hour......if i had 100k to MANAGE....lol

[RPM]

WE ALL have SEEN the TRENDS and PATTERNs.......i want to reflect on previous charts in order to predict future actions.........and if i can....i am RETIRING @ 25.................haha

[Darth_Trader_HSM]

Hey RPM! It's quite amusing, I was in Barnes'nGobble$ and perusing the books on TA and charting yesterday and got home just after the gasp, but before the plunge. I had just read about this. This 'last breath' of yours is a much better name for the 'false break' or whatever they used in the book.

It works both ways, according to the book's author.

A 'last breathe' before the plunge can also be a quick gasp before the sprint, so, as you are the creative guru here, what shall we call it? That is, when a 'false break' to the short , goes 3x over the channel to the up side?

How 'bout the 'skip, before the hop and the leap'.
or how about the
'Lone Ranger's rear, back before the 'ol Hi!Ho!Silver!'

Okay, okay... go ahead, you try it. It ain't so easy is it?

[RPM]

Originally Posted by Darth_Trader_HSM

A 'last breathe' before the plunge can also be a quick gasp before the sprint, so, as you are the creative guru here, what shall we call it? That is, when a 'false break' to the short , goes 3x over the channel to the up side?

when it springboards long.....i shall call it

"a young tiger cub CROUCHING before the ATTACK"

so the short move is a "Last Breath" of a diving swimmer

and the long move is a "Poised Pounce" of a tiger cub

[Darth_Trader_HSM]

BRAAAVVVVOOOOO!!! Clap, Clap !!!!

Say, are you seeing the ascending wedge on the USD/JPY?

You gunna get in on that? Should be a good 50 PIP drop....

[Fishmasterdan]

Darth Trader;
Did that book help you any?

RPM;
I like the name, thanks for pointing that out.
Also do you guys only play a break out? How do you define a break out versus a false break out.
I try to jump one when it gets out of its trend channel only to watch it fall as soon as I take a position.

Thanks

[form4]

Originally Posted by Fishmasterdan

Darth Trader;
Did that book help you any?

RPM;
I like the name, thanks for pointing that out.
Also do you guys only play a break out? How do you define a break out versus a false break out.
I try to jump one when it gets out of its trend channel only to watch it fall as soon as I take a position.

Thanks

Great catch, RPM. My take is that when in a channel and it touches/breaks upper trend line (if you're holding), then sell (profit) and reevaluate. If it looks like that head and shoulders pattern then consider a short (with a stop loss). Otherwise, stay clear and wait for the bounce. All easy for me to say as I'm still in demo mode - and going through withdrawals due to the long weekend.

[Darth_Trader_HSM]

I didn't buy it. The guy wanted 40 bucks for it, so I just looked through it. It was called Technical Analysis or something simple with that in the title. If I go back I'll write it down for you. If you're interested in some inexpensive TA literature (read free) shoot me a PM.

As for the other questions, I don't want to step on RPM's toes, but since I'm here and AWAKE at one thirty am......

I'm new to Forex, but not to TA. Successfully applying charting skills takes ALOT of practice. False breaks are hard to cope with, I've made more losses trying to skim a few PIPs in a small channel though, so I try to watch for the big breaks, and post my orders well outside the channel both up and down. So, whichever way it breaks, I'm already there. And I'm not afraid to take up a 1/2 postion, that gives me plenty of breathing room. If it's a 30 PIP channel, for me, 8 PIPs are taken up by the spreads, and 8 more by my margin for error, leaving 14 PIPs. Of the 14 PIPS left, 10 are taken up by random variances, where the top and/or bottom of the channel are not touched. So I'm left scraping for 4 PIPS. When I get an account with Interbank, the spread is 3 PIPS, leaving me with 6 for profit, if all goes well. Very difficult to do that even with proper planning, so I like the big breaks that follow the charting/TA rules and can be predicted with a reasonable amount of DD.

Good Luck and feel free to drop by my thread.