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A,B,C,D - 1,2,3,4 System

  • #1,341
  • Jan 8, 2009 2:51am Jan 8, 2009 2:51am
Quoting Dra
The formation is a TT Mike. Wicks are more than 60% of the candles.
Thanks alot Dra, and mike for the clarification. I have posted a bigger chart.

Furthermore, there were a few other entries which I took that are working well. AUDJPY and EURAUD are a couple which I did not take.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 14 KB
Click to Enlarge Name: eurjpy.gif Size: 16 KB
Click to Enlarge Name: audjpy.gif Size: 15 KB
Click to Enlarge Name: chfjpy.gif Size: 15 KB
  • #1,342
  • Jan 8, 2009 3:01am Jan 8, 2009 3:01am
[quote]Thanks alot Dra, and mike for the clarification. I have posted a bigger chart.

Furthermore, there were a few other entries which I took that are working well. AUDJPY and EURAUD are a couple which I did not take.[quote]

So u did take the chfjpy too? nice, been in it since that day i posted online.
I saw the Euro but i wasnt too comfortable with that TT so i pass it by but good trade buddy like i said earlier most especially ur stop place, am in love with that man.

Think its a nice week
  • #1,343
  • Jan 8, 2009 5:33am Jan 8, 2009 5:33am
Quoting tanyasiapa
Hi,

There's a possible setup on NZDUSD short. On 4H, price is testing the trend line on 76.8 level and we can anticipate engulfing bullish there. We need perfect candle formation to enter this trade.
Hey Hoedha:

Thanks for the heads up on the potential setup on NZD/USD. In the post you mentioned NZD/USD short but it was easy to see that it should be a LONG.

On my chart, the pattern of bullish engulfing seems to be holding so far. We will see what happens in 30 minutes.

I have been studying your chart and reviewing mine many times since you posted the chart. It sure helps to track the set up live instead reading about it later.

Even if the pattern does not form, I have learned a lot just preparing for the right pattern.

Thank you very much for your post.

FXG
  • #1,344
  • Edited 1:44pm Jan 8, 2009 1:42pm | Edited 1:44pm
Quoting tanyasiapa
Hi,

There's a possible setup on NZDUSD short. On 4H, price is testing the trend line on 76.8 level and we can anticipate engulfing bullish there. We need perfect candle formation to enter this trade.
Hi Hoedha:

I took that trade this morning, NZD/USD LONG. I just closed it out for 51 pips. After installing a new 22" monitor and reviewing the trade, I realized that the bullish engulfing candle was not, as you would say, perfect.

If the trade goes for more, it is okay by me. I had traded three standard lots so the result was still a little over $1,500 USD.

By the way, I could not post the chart of the trade because I placed this trade with the latest broker that I am using. The software is not metatrader4 as with ODL so I have not figured out how to copy the chart from the screen as of yet.

Happy pipping to you also.

FXG
  • #1,345
  • Jan 8, 2009 3:24pm Jan 8, 2009 3:24pm
FXG,

The bullish engulfing candlestick you referred to on your NZDUSD trade as not 'perfect' looks more or less textbook on my chart.

How did it fall short, in your view; or is your data supplier showing something different?

Dod
Attached Image (click to enlarge)
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All flesh is as grass
  • #1,346
  • Jan 8, 2009 7:12pm Jan 8, 2009 7:12pm
There is a trade setup on GU chart though 4hr bar is still in action. Any comments?

Thanks
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Click to Enlarge Name: gu4h.gif Size: 20 KB
  • #1,347
  • Jan 9, 2009 12:13am Jan 9, 2009 12:13am
Quoting Blackeagle
There is a trade setup on GU chart though 4hr bar is still in action. Any comments?

Thanks
I am not sure about this setup. The last wave retrace did not reach the 1.27 fib extension. Maybe Dra or other experienced traders could offer their insights.

GBPAUD has great potential on the daily chart.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud.gif Size: 17 KB
  • #1,348
  • Jan 9, 2009 1:28am Jan 9, 2009 1:28am
Quoting soyabean
I am not sure about this setup. The last wave retrace did not reach the 1.27 fib extension. Maybe Dra or other experienced traders could offer their insights.

GBPAUD has great potential on the daily chart.
To be honest, I am not sure on GU either as 360 pips range bar on 4hr chart still shows that the pair is managing higher highs. Agree that any insights would be greatly appreciated.

Re. GBPAUD, I totally agree with you. Although it is not a textbook evening star, this still can be acceppted as a one, IMO and a short position from 2.1424 wouldn't be a wrong move, IMO.
Attached Image
  • #1,349
  • Jan 9, 2009 1:49am Jan 9, 2009 1:49am
Just did my weekly review. Seems that the best trade of the week was USDJPY in my opinion, am quite disappointed that I missed that trade.

In general it has been a good week as the EJ and CJ trades are still looking good. Have a good week ahead guys.
  • #1,350
  • Jan 9, 2009 4:19am Jan 9, 2009 4:19am
that 4hr setup looks cool but its not good to open a trade close where support is. 80% of the time, price will bounce there and move the other way. Maybe u look at the daily
  • #1,351
  • Jan 9, 2009 5:14am Jan 9, 2009 5:14am
Quoting dod
FXG,

The bullish engulfing candlestick you referred to on your NZDUSD trade as not 'perfect' looks more or less textbook on my chart.

How did it fall short, in your view; or is your data supplier showing something different?

Dod
Hi Dod,

I am using the data from ODL Securities to place my trades with the other broker because their charting software makes it a challenge to have good trend lines.

For the NZD/USD trade, the body of the candle forming the engulfing pattern the candle forming started a little above the candle.

I have attached the chart below.

I did not attach the chart in the post because it would not show the trade since the trade was placed with a different broker.

Your chart looks beautiful. It is textbook.

Who do you use for your data supply?
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  • #1,352
  • Jan 9, 2009 5:34am Jan 9, 2009 5:34am
Hi,

You're on NZDUSD FxG?that's great... I think it still can be considered as bullish engulfing. We have to be very careful with the NFP news coming today.

Happy pipping all..
  • #1,353
  • Jan 9, 2009 6:13am Jan 9, 2009 6:13am
Quoting Naijafx
that 4hr setup looks cool but its not good to open a trade close where support is. 80% of the time, price will bounce there and move the other way. Maybe u look at the daily
Do you mean the blue line support, Naija? Thanks for the info, I didn't notice it.
Attached Image
  • #1,354
  • Jan 9, 2009 6:50am Jan 9, 2009 6:50am
"Who do you use for your data supply?"

I think it's Interbank; it always used to be Fxdd; then there was a problem, and I logged in with Interbank.

I only use it for charting. I make trades elsewhere.
All flesh is as grass
  • #1,355
  • Jan 9, 2009 9:17am Jan 9, 2009 9:17am
Posted below are 2 charts of AUDNZD, I tried to get in earlier but got stopped out (although price did not reach my designated SL, maybe I should have push my SL even higher up to prevent the broker from stopping me out), second chart showing a good re-entry for the trade but was away from my monitor and missed it.

Managed to catch audjpy ride though.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: audnzd2.gif Size: 22 KB
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  • #1,356
  • Jan 9, 2009 11:01am Jan 9, 2009 11:01am
i thought u have called it a quit for this week..... hahahahahahahaha, cant stop till u get enough i think

Have a pleasant weekend
  • #1,357
  • Jan 9, 2009 11:50pm Jan 9, 2009 11:50pm
EURGBP can be a potential long trade on Monday as it is very close to up TL.
Attached Images
  • #1,358
  • Jan 10, 2009 1:28am Jan 10, 2009 1:28am
Quoting Naijafx
i thought u have called it a quit for this week..... hahahahahahahaha, cant stop till u get enough i think

Have a pleasant weekend
Haha, actually I called it quits, I entered the gbpcad trade before my post to end the week actually.

But I wanted to post the chart before the price starts moving, just for everyone to see my reasons for entry. I wanted to post all the trades I take as far as possible and not just the winners, so that everyone can also witness for themselves the trades which I lose. But last night was fantastic. EJ already up 500 pips, CJ 200+ and EU 150, GC 50

Gonna close some early and secure my profits for this week.

Another point to note was how the patience paid off. I did not take any trades since the christmas week as I was waiting for the raging storm after the calm, and the only 4 trades I took from this week have given me enough pips to meet my target for those 2 weeks of not trading. =) So be patient guys, wait for the ideal setup to form and you will be rewarded. Dra's ABCD1234 is one to respect!
  • #1,359
  • Jan 10, 2009 1:34am Jan 10, 2009 1:34am
Quoting Blackeagle
EURGBP can be a potential long trade on Monday as it is very close to up TL.
Nice chart. I feel that EURGBP and GBPAUD are potential for good trades. Be patient though, I believe there is still room to run before we get a CF.
  • #1,360
  • Jan 10, 2009 5:21am Jan 10, 2009 5:21am
Quoting soyabean
Nice chart. I feel that EURGBP and GBPAUD are potential for good trades. Be patient though, I believe there is still room to run before we get a CF.
Agree with being patience. For GBPAUD, please have a look for posts #1350 and #1353. If CF comes with the break of that support line, that would be safer, IMO, so I agree with Naija on that one.
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