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Akuma99 Squeezer 20 replies
Quoting Akuma99DislikedHey kiwigold, Claude posted one in another thread a little while ago here:
http://www.forexfactory.com/forexfor...ead.php?t=4943Ignored
Quoting Akuma99DislikedTRADE TYPE: RANGING/DEVELOPING TREND
May 30 | SHORT | EUR/USD @ 127.64 | SL: 127.80 | TP: 127.13
http://img155.imageshack.us/img155/9297/trade260uh.gif
It is 2:10am here, so excuse me if the explanation is shorter than usual, I have tried to indicate the main points on the chart above. This is a fantastic setup, apart from a ranging rainbow, and here is why.
We seem to be in the beginnings of a developing down trend, at least in the short term as the rainbow has folded over and switched direction. Price turned right on the upper BB, and we are well clear of any SMA support to stop a move down. The CCI produced a quick blue zone signal, and shortly after a zero line bounce, and to top things off, we have a close subsequently below yesterdays low.
In terms of stop placement, the daily pivot is just above to hide behind, and really on a quiet day, a move to S1 would be a fine profit today. I now go to sleep with targets and stop in place. Happy trading!
Ignored
Quoting Akuma99DislikedWow what a cold! ... never had one like it ... laid me low for two weeks, and never had so much soup in my life (I don't even like soup), anyhow finally I can get back to things, hope everyone is well.Ignored
TRADE TYPE: RANGING/DEVELOPING TREND
June 20 | SHORT | EUR/USD @ 1.2588 | SL: 1.2609 | TP: 1.2534
http://img155.imageshack.us/img155/8288/chart51jo.gif
Hey all, it's been a while I know, but the soup worked and things are back to normal. Here is today's trade I opened, short on the EURUSD looking for a continuation of the trend, and here is why:
The trade is opened right at the upper Bollinger line, possibly signalling the exhaustion of the small corrective move just before the opening of Europe. The rainbow clearly shows the downtrend is still in tact, certainly nothing to fight against. The 100SMA and 200SMA which can act as barriers, are above the price and well clear so there is nothing to stop a move down from that respect either.
We are well into a blue zone, and the 50CCI shows signs of a zero line bounce, a nice trigger, and as a bonus, price is sitting right below the daily pivot line. My stop sits behind the 100SMA, but really it shouldn't test that far if the trade goes as expected, while the ultimate target is the 161.8 extension of the recent corrective move, which happens to fall right at the daily S1 pivot line (off screen).
All sounds great in theory ... let's see in practice.