- Post #22,157
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- Apr 1, 2010 3:01am Apr 1, 2010 3:01am
- | Commercial Member | Joined Aug 2007 | 474 Posts
- Post #22,160
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- Apr 1, 2010 6:55am Apr 1, 2010 6:55am
- Joined May 2009 | Status: Member | 2,885 Posts
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DislikedI'm currently short the Eur at 1.3461 base on what I stated earlier. I'm a little off sides, -20 pips, but the trade still is valid with my rules. In previous chart the 61.8 was previous support and now (hopefully) will act as resistanceIgnored
DislikedGood luck Raymond. Unfortunately we are against that pesky long term trendline again. If history is any indication, it is going to confuse us first and then go down.Ignored
DislikedGood luck Raymond. Unfortunately we are against that pesky long term trendline again. If history is any indication, it is going to confuse us first and then go down.Ignored
DislikedJust a reminder that this is an unusual week. If you are going to trade, be careful. Wednesday is end of month and we have Good Friday this Friday so all banks will be closed on Friday. Therefore it is likely that Thursday will be end of the week in the place of Friday. We still have ADP NFP on Wednesday and Non Farm Payroll on Friday but we don't have any interest rate decisions this week. Volume is likely to be light towards the end of the week.Ignored
DislikedThanks for the heads up .
My trade, I think this one within the rules. TC from 21 with the trend, price closed above resistanse, 365 is a good target.Ignored
DislikedWhich trend line would this be? I can't seem to place it. Would like to see a larger time frame if you can be botheredIgnored
DislikedHi Ira,
You are welcome Ira but what made you take a long on GJ ? Thanks.Ignored
http://lh3.ggpht.com/_WdCVNN-NiCg/S7...png?imgmax=800
It was an exciting day for EURUSD.Let’s look at 4Hour Chart of EURUSD.EURUSD has touched my Fibonacci 50.0 level – 1.3542(between the highest level 1.3817 and the lowest level 1.3266)and started dropping (the bigger purple circle),we can it very clearly from the picture at above.4H Chart formed a long tail then the second candlestick had a bearish signal,which gave us a first signal for bearish of EURUSD.Next,we look at the bottom MACD Indicator,we see a red pointing down arrow(at the top of “TC” word) which is another bearish signal of my MACD indicator. 4 hours later,another Strong bearish came out again,75 pips has dropped,which give me a strong signal to short the EURUSD. If you look at the bottom purple circle,you can see that,MACD will further go down below the 0 line,which mean,the uptrend has finished and downtrend is taking over,we will see MACD move further down.
In order to provide me more reasons to short EURUSD,I looked at the Daily Chart to confirm my trade.Let’s look at the Daily Chart at below.
http://lh5.ggpht.com/_WdCVNN-NiCg/S7...png?imgmax=800
Well,the latest black candlestick is the current candlestick that I’m looking at,a strong black candlestick *(bearish engulfing) has formed and MACD Indicator (at the bottom with number “3” there),has formed a TC (Trend Continuous) signal,which mean. However,the candlestick has not closed yet, therefore,we will wait and see the daily candlestick close to confirm the downtrend,and I will make another short position for the upcoming downtrend,which I estimate that the EURUSD will drop to 1.3122 and 300pips will be the estimate pips we will gain.
*Bearish engulfing is a candlestick pattern name. If you’d like to know more about candlestick study,please refer to Japanese Candlestick Charting Techniques,Second Edition by Steve Nison , or Beyond Candlesticks: New Japanese Charting Techniques Revealed by Steve Nison , it will mention a lot of techniques about candlestick.
Hope all these will help you!
Cheers
Charles BY
http://booyu.blogspot.com
DislikedWell, I'm out of the trade at 45 pips. That was a lot of work for that small amount. I stayed in the trade for 3 reasons. First, WG stays in trades when he feel like thing go against him and then looks for the best exit if he is wrong. Second, I wanted to see what would happen when the 21 on the daily was hit. Lastly, I thought I was right. The 2nd chart shows my entry and exit. I entered b/c on an evening star pattern with a lower high. I exited b/c I'm expecting a better entry for another down move, possible tonight. The 3rd chart shows what I...Ignored
DislikedVery good trade Raymond. Your thinking was correct. You were just a little early on entry. However that was a good entry considering that you had to go to sleep. I am glad that you made some good pips. I did the same trade after the London open a little higher up and got 30 pips. I was lucky that I was awake when it decided to turn around. I closed early and went to bed and missed the rest of the move.Ignored
DislikedAhh, sleep. I've been lacking some and tonight doesn't look like I'm going to catch up. Are you looking at the EUR? It's a good short, in my humble opinion.
Edit: looks like I was wrong
RaymondIgnored
DislikedMorning all,
First of all I would like to send my apologies to everyone for not responding sooner. As i'm sure you are all aware i've had a number of things going on so haven't been to send time making the video reviews. I am now back on track - the other venture has been set and I will now be concentrating on you people and teaching you how to profit fully from this system.
I have just uploaded the review of the long trade I place yesterday - as you will see it wasn't a massive winner. The main reason behind the trade was momentum and rhythm...Ignored
DislikedMy trade, I think this one within the rules. TC from 21 with the trend, price closed above resistanse, 365 is a good target.Ignored