My trades by Dave

Here is most likely count cause it on a higher time frame and looks more clearer.

Dave

Well price broke the top on FOMC announcement. I hope this gives a direction for the euro to trend in. I havn't been able to make an ewocci trade for a while. I need some pips....


Dave

Here is the daily chart on moving averages.

Resistance has been at the 55 day ema for 10 days now and has yet to close above it or the 8 day ema also. Hard for me to take a long trade as long as this resistance remains. A daily close above these ma's will hold alot of significance for an up move.

What to do, what to do.....continue to play the waiting game I suppose.


Yawn!!!!

Dave

edit: but the daily CCI is aproching the "0" line too. Bounce or break....another reason to wait. Hopefully patience will be rewarded...

lol I must admire the patience! I think that the traders with patience, who don't just go running into trades are the ones who win out in the end.

Nice one bud. If you want I can recite poetry to pass the time??

1.2731 and 1.2754 are the points to wach. 55 ema and 21ema.

Dave

And there it goes. up up and away......will it hold?

Stay tuned...target top trend line 1.2866.

Dave

JeeeeeeeS............


I hate to see so many pips waisted in a move like that. I just sit and wach it go.

Really hope this begins a trend or a series of nice waves. The wedges got me gun shy. I been waching for 2 weeks now.

ArrGgGGgg......little venting there. Guess its better that losses huh?

Discipline Discipline Discipline....I don't trade news. But sometimes a move like this sure makes me want to.

The times I decide to trade news is when it wipsaws back and forth steeling my money away.

Any way. one thing is 100% sure in forex. there is always a retrace. A move like this if sustained will give rise to good ewocci signals. If the market didn't retrace it would go one way and never stop-

edit: but as you can see in the chart above the price is still in a really big wedge thats tightening down on the range. The big picture is that this move is really small....

Dave

All I can say is that I didn't realize it would move so much. Ouch.

yea me either. So hard not to try and jump in (chase the market) Cause soon as you do it reverses. And if you don't it keeps going.:....lol As if we can affect it like that.

Its ok I need it to take off like that, get out of the range it was in, so it can consolidate, let the ma's catch up to it, and give rise to a signal. My signals were all messed up and overlapping. Now there spread out. In the red circle there all messed up. In the white there spreading out. (good thing)...

Dave

Long entry GBP/JPY 122.68....s/l 122.35

on the break of CCI above 0 line 3 hrs ago waiting for ewo to move up above 0 line the pair has pulled back to find support near the pivot.

using e-trail for s/l trailing. s/l will trail to be at 20 pips and trail every 2 pips there after....since fxdd only allowas trail in a minimum of 15 pip incraments


Dave

well crap.......news move it 20 pips up...trailed me to 2 pips above BE and then pulled back and nailed me out for +2 pips

Thats a big 2 pips this week....now I can buy that pony

rules prevent me from re-entering cause now I'd be chaseing the market. O well.


Dave

Ya! Trade at last!!

Must be so annoying to have the news interfering hehe. Have your Signals spread out for the Eurusd yet?

Hooray for e-trail

turns out price has fallen back to support. 2 pips was all I was gonna get anyways.

Here is the EA for those on meta4.

defalt setting is trailing stop- 8 this is at what point it will move s/l to be.

trailing step is what incrament it will trail after moving to b/e.

Dave

looks like ecocci is setting up for a possible signal on euro$ and gbp$

just waiting for CCI to cross.

heres euro
Dave

and heres GBP.....

GPBUSD and EUROUSD are usually well correlated (75% and up i think), so if one gives a signal, you might as well sit there and start placing bets as to how long it'll take for the other one to go,

by the way thanx for the tip!

ea is done!

yea your right. and opposite signal on usd/chf.

But if you take the 2 or 3 signals you can double or tripple losses.

This is why I try to stick to 1 pair.

the posted charts gave good signal, but I missed out. They looked like a 0 line bounce there for a while.

I'll have to catch the next one.

Dave

This is where we should be going with the price in the next month and a half.

Price target 1.3135 range. In october.

Dave

I need to add that the above post is mid to long term. The price in the short term can still dip to 1.2700, or 1.2670 or even back to 1.2625 brfor going to the projected target.

Dave

Hi Dave,

could you please explain the calculations involved in the chart diagram just above ... with the projection to 1.31 Obviously 1.61 is the golden ratio but how is it drawn? Why is that distance 1.61

Thanks

Lou