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- steveshutts replied Oct 21, 2009
Yes you have a point, thanks for pointing out the rules again. I have been mainly trying to trade off s+r areas based on the daily trend. The reason for my short was that the current Daily trend was down but as you quite rightly said, if i was going ...
- steveshutts replied Oct 21, 2009
Stopped out. Wow, i have not taken to this too well so far, 3 out of 3 losses. I can only get better i suppose!
- steveshutts replied Oct 21, 2009
Well my sell limit was hit at 6400 during the asian so lets see what today brings! image
- steveshutts replied Oct 20, 2009
Just check the charts and looks like price is reacting off that resistance at 6500. There has been quite a sharp move back down and price has broken support at 6350 and is now retesting this area. I have placed a sell limit at 6400 for the asian ...
- steveshutts replied Oct 19, 2009
I have a sell ctop on cable at 6350. Price has cut a small range up at 6400, which is the 61.8% fib of the recent leg down, old s+r on daily and the third touch of this downward trendline in the daily. Price has broken above the range but has not ...
- steveshutts replied Oct 16, 2009
Congratulations Dan, you will have your hands full now!
- steveshutts replied Oct 15, 2009
A question for Dan: What do you look for on the 1hour as a minumum for qualification that price is being rejected at an important level? Steve
- steveshutts replied Oct 15, 2009
Well, stopped out on cable. That will teach me to ignore a powerful outside bullish daily candle like that. It has been quite a bounce back up from 5700. Its now back up at the top of the old daily range that it broker south out of. I am going to ...
- steveshutts replied Oct 14, 2009
Snap Xj8, exactly the same trade i took today. Its a good spot to short as long as it doesn't want to continue up to challenge the resistance of the previous range at the 6100 area. Time will tell! However, it looks very much like a reversal pattern ...
- steveshutts replied Oct 14, 2009
I am short cable from 5950. It looks like its rejecting now on the 1hour after reaching 6020 area. Will check back in later.
- steveshutts replied Oct 13, 2009
Well, it looks like todays bar print is going to be a bullish outside bar off the 382 daily fib. Trend is still down on the 4hour but i am wondering if i should now wait for price to move a little higher before reassessing. After the break out of ...
- steveshutts replied Oct 13, 2009
Well, i got stopped out on my entry at 5750. I thought 5800 was going to hold today but looks like we are in for more of a retracement after all. In hindsight i think i would have been better off to wait for a better retracement before shorting ...
- steveshutts replied Oct 12, 2009
Looks like price is rejecting from 5800 level. I have placed a sell stop at 5750 to hopefully catch it on its continued move down to 5600 if it continues.
- steveshutts replied Oct 11, 2009
Hi Guys, Great thread Dan, keep it up. Would like to start with this method, so here is my analysis on cable and i welcome any feedback. Weekly- Still very much in downtrend and price has recently been rejected off the confluence zone of old support ...
- steveshutts replied Dec 8, 2008
Doh!!! Thanks for clearing that up guys. I should have gone through that a little more eh. Nice one Steve
- steveshutts replied Dec 7, 2008
Paulus, Not sure how that is giving better risk/reward as you are getting a better entry but you are also adjusting your take profit by the same amount, or am i missing something? I am doing this quite often when the R/R is no good but i tend to ...
- steveshutts replied Dec 4, 2008
Hi Monk, Here is the fib showing the 50% retracement. My fibs have different names from past strategies but they are the same levels. It is clearer to show the fib on the 1 hr but i am operating from the daily. We have a Eur/Aud long signal today ...
- steveshutts replied Dec 3, 2008
Missed my 50% retracement entry on Eur/Chf by 10 pips. Oh well, never mind. No signals today, not much movement at all today. There is a lot of data out over the next 2 days so looks like the big players are staying out waiting for that. I have ...
- steveshutts replied Dec 2, 2008
Well, all i can see today is the Eur/Chf which does not give me enough R/R to take the entry here. I have set a buy limit on the the 50% fib retracement of todays move up. We have a nice third touch support on the 4hr but anything could happen. Buy ...
- steveshutts replied Dec 1, 2008
Well, 4 out of my 5 trades that was left on hit TP today: usd/jpy: 224 pips gbp/jpy: 525 pips eur/usd: 253 pips gbp/usd: 364 pips Still short aud/usd and looking good. A few setups there tonight but quite a few are very large daily bars and offer ...