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My trades by Dave

  • #1,701
  • Oct 17, 2006 5:44pm Oct 17, 2006 5:44pm
euro$ pulled back off its high at 1.2757 to 1.2731.
Now with no markets open 6pm EST candle is bouncing hard back near highs.
What is driving this? $ is losing ground all over the board.

News this morning would have taken out my s/l befor going to my trade direction. Good call to pull out. Is a bottom forming? I didn't expect it so soon but... could be. I am waching the retest of the high.

gbp$ is back above 200 day ema and today moved back above the 100 day ema. resistance is at 21 day ema(1.8729). 55 day ema is at 1.8757

1.8757 should limmit any firther rally in this pair. But being stuck in the middle of all these daily ma's it could do anything.

100 day ema = 1.8709 I wouldn't take any shorts on gbp$ untill it breaks back below this price. But if you do then s/l needs to be above 1.8757.

most people expected euro and gbp fo fall further and instead they rallied.

remember 80% of the public will be wrong 80% of the time.

when does it become clear that there has been a trend change in direction? when its too late to get in on it. And soon as you do it changes again.

try to think in terms of the 20% not the 80%

Dave
  • #1,702
  • Oct 18, 2006 10:51am Oct 18, 2006 10:51am
EWOCCI short taken on news realese this morning.
entry was 1.2537
s/l was 1.2560
target open but hoping it continues its decent and reaches 1.2454/60 range.

e-trailing trailed s/l to B/E after 30 pips and will trail s/l every 5 after.

I don't like that price has stalled only 20 pips from entry and s/l now. Mabe waiting for the ma's to catch up.

4hr,daily and weekly look ready for a fall to at least 1.2454 but might not. I need to see it drop below 1.2490(55 week ema) befor I can relax.

edit sry..chart was fuzzy...should be more clear now.

Dave
Attached Image
  • #1,703
  • Oct 18, 2006 11:04am Oct 18, 2006 11:04am
Quoting xxDavidxSxx
EWOCCI short taken on news realese this morning.
entry was 1.2537
s/l was 1.2560
target open but hoping it continues its decent and reaches 1.2454/60 range.

e-trailing trailed s/l to B/E after 30 pips and will trail s/l every 5 after.

I don't like that price has stalled only 20 pips from entry and s/l now. Mabe waiting for the ma's to catch up.

4hr,daily and weekly look ready for a fall to at least 1.2454 but might not. I need to see it drop below 1.2490(55 week ema) befor I can relax.

edit sry..chart was fuzzy...should be more clear now.

Dave
may i know how do you e-trail your pos?
{Link Removed}]
  • #1,704
  • Oct 18, 2006 11:12am Oct 18, 2006 11:12am
Quoting kenari05
may i know how do you e-trail your pos?
e-trailing is an EA (expert adviser) look at the upper left hand corner of the chart
  • #1,705
  • Oct 18, 2006 6:50pm Oct 18, 2006 6:50pm
Quoting xxDavidxSxx
EWOCCI short taken on news realese this morning.
entry was 1.2537
s/l was 1.2560
target open but hoping it continues its decent and reaches 1.2454/60 range.

e-trailing trailed s/l to B/E after 30 pips and will trail s/l every 5 after.

I don't like that price has stalled only 20 pips from entry and s/l now. Mabe waiting for the ma's to catch up.

4hr,daily and weekly look ready for a fall to at least 1.2454 but might not. I need to see it drop below 1.2490(55 week ema) befor I can relax.

edit sry..chart was fuzzy...should be more clear now.

Dave
s/l at b/e


EWOCCI BUY signal 1.2541
s/l 1.2495
Target open

Last signal barely went 30 pips. Hopefully this one will go further. I didn't want to pull profits on last trade because one of the big mistakes of beginners is taking profits too early. Throwing off risk/reward ratio. But this time if CCI crosses +100 then when it crosses back toward 0 line I'll close trade what every profits are. Like I shoulda done befor.
Was it greed that made me hold onto last trade untill it came back on me, or following good MM? I dunno but this tight range is not agreeing with my trades.

Dave
Attached Image
  • #1,706
  • Oct 18, 2006 9:58pm Oct 18, 2006 9:58pm
Quoting xxDavidxSxx
s/l at b/e


EWOCCI BUY signal 1.2541
s/l 1.2495
Target open

Last signal barely went 30 pips. Hopefully this one will go further. I didn't want to pull profits on last trade because one of the big mistakes of beginners is taking profits too early. Throwing off risk/reward ratio. But this time if CCI crosses +100 then when it crosses back toward 0 line I'll close trade what every profits are. Like I shoulda done befor.
Was it greed that made me hold onto last trade untill it came back on me, or following good MM? I dunno but this tight range is not agreeing with my trades.

Dave
I am going to be honest here....First off, let your self wake up a little bit befor taking a trade. I just took that trade above because my ewocci signal alert went off. And with out realising it I took a signal off of a 30 min chart instead of the 1 hr chart like I usually do

I was looking befor I went to sleep to see if 30 min chart can give me a good signal and earlier entry. Well I am about to find out.

1 hr looks to be almost in signal. just waiting for ewo to cross. Its at -.000003 now and price is moving up.When hour changes in 4 min. I will be in a real 1 hr signal.(WEW) I would have immediatly closed trade apon recognising mistake but cci was well across 0 line on 1 hr and above pivot. EWO was really close.

so there it is.

Dave
  • #1,707
  • Oct 19, 2006 4:21am Oct 19, 2006 4:21am
Here is wave chart with possible fibo target 38.2 ....1.2591,

wave 2 went 61.8 deep retrace so wave 4 will probly go 38.2 shallow

Wave 5 could extend down to 1.2450 range. Unless it truncates and don't extend past current bottom.

Dave
Attached Image
  • #1,708
  • Oct 19, 2006 6:03am Oct 19, 2006 6:03am
I went ahead and took profits at 1.2872 there is resistance there from a previous high and could fall short of 38.2

+31 pips
  • #1,709
  • Oct 19, 2006 6:45am Oct 19, 2006 6:45am
Since the euro is bound to this range I guess its good to take profits at low levels. Untill it breaks this range at leats. Usually ewocci gave signals that lasted a day or two. Instead of letting it hit my trailing s/l I'll be looking at 20-30 pips profit.



You see murfys law plus the law of averages says soon as I realize this the market will break loose and the next signal or so will be much greater.

we'll see.

Dave
  • #1,710
  • Oct 19, 2006 9:35pm Oct 19, 2006 9:35pm
Quoting xxDavidxSxx

You see murfys law plus the law of averages says soon as I realize this the market will break loose and the next signal or so will be much greater.

we'll see.

Dave
as it turns out this was the signal that the above statement applied too. I guess I saw it comming.


any how. My posted target range was achieved, and over shot some. Price has come into what should be strong resistance at the bottom of wave 1. As e-wave rules state wave 4 should not enter the range of wave 1. And it also looks to be a butterfly reversal pattern here.


Dave
Attached Image
  • #1,711
  • Oct 19, 2006 10:48pm Oct 19, 2006 10:48pm
I want to causion against any shorts based on the above chart.

Right now the price has yet to close below the 8 hour ema(currently 1.2629). Once it does close below 8 ema on hourly shorts can be considered. Untill then there is a bullish progression to the euro$

Dave
  • #1,712
  • Oct 20, 2006 1:47am Oct 20, 2006 1:47am
short taken on 4 hr cross of 5wma. Based on butterfly reversal pattern

short 1.2629

s/l 1.2650

target 1st 38.2 fibo move s/l to be
2nd target 61.8 fibo move s/l to 38.2 and let it run trailing every 35 pips.

Dave
Attached Image
  • #1,713
  • Oct 20, 2006 6:25am Oct 20, 2006 6:25am
Quoting xxDavidxSxx
short taken on 4 hr cross of 5wma. Based on butterfly reversal pattern

short 1.2629

s/l 1.2650

target 1st 38.2 fibo move s/l to be
2nd target 61.8 fibo move s/l to 38.2 and let it run trailing every 35 pips.

Dave
close trade at 1.2607

+22 pips

While price is bouncing off pivot I'll sit it out. If its going to continue down I'll enter on EWOCCI short signal. Since I am not that experianced at trading patterns.

Dave
  • #1,714
  • Oct 23, 2006 2:08am Oct 23, 2006 2:08am
Quoting xxDavidxSxx
While price is bouncing off pivot I'll sit it out. If its going to continue down I'll enter on EWOCCI short signal. Since I am not that experianced at trading patterns.

Dave
EWOCCI short signal taken at 1.2609

s/l 1.2640

target open
Attached Image
  • #1,715
  • Oct 23, 2006 5:38am Oct 23, 2006 5:38am
Quoting xxDavidxSxx
short taken on 4 hr cross of 5wma. Based on butterfly reversal pattern

short 1.2629

s/l 1.2650

target 1st 38.2 fibo move s/l to be
2nd target 61.8 fibo move s/l to 38.2 and let it run trailing every 35 pips.

Dave
target 2 complete

s/l is trailed to 38.2( 1.2588 )following at 40 pips away every 5 pips.

Dave
Attached Image
  • #1,716
  • Oct 23, 2006 7:48am Oct 23, 2006 7:48am
Quoting xxDavidxSxx
EWOCCI short signal taken at 1.2609

s/l 1.2640

target open
Howzit Dave,
Fiber is not my cup of tea, so am trying your CCI method. Is it a signal when the EWO and CCI crosses over the zero line, even though the bar that causes the cross hasn't closed yet? By the looks of your entry, you entered before the bar closed.

Thanx
Habeeb
Keeping it Simple
  • #1,717
  • Oct 23, 2006 8:00am Oct 23, 2006 8:00am
Quoting habeeb
Howzit Dave,
Fiber is not my cup of tea, so am trying your CCI method. Is it a signal when the EWO and CCI crosses over the zero line, even though the bar that causes the cross hasn't closed yet? By the looks of your entry, you entered before the bar closed.

Thanx
Habeeb
hi, do you mind of posting the EWO and CCI indicators..... thanks
  • #1,718
  • Oct 23, 2006 8:06am Oct 23, 2006 8:06am
Sure...
Attached File(s)
File Type: mq4 Elliott_Wave_Oscillator.mq4   2 KB | 458 downloads
File Type: mq4 WoodiesCCI.mq4   3 KB | 404 downloads
  • #1,719
  • Oct 23, 2006 8:12am Oct 23, 2006 8:12am
Quoting habeeb
Howzit Dave,
Fiber is not my cup of tea, so am trying your CCI method. Is it a signal when the EWO and CCI crosses over the zero line, even though the bar that causes the cross hasn't closed yet? By the looks of your entry, you entered before the bar closed.

Thanx
Habeeb
it depends. I had the reversal butterfly from friday for one thing. I been doing this for a while is another.

Price had bearish tendencies with the new days pivot above the price it bounced off the underside and down a couple of times. And couldn't get across to the upside.

The 8ema was below the 21sma.

So when price started tomove I figured it was good.

If price started from the other side of the pivot and from the other side of the moving averages and the moving averages were in the process of crossing then I'd have waited for the bar to close and next one to pass the low of the one that generated the signal.

I also saw $jpy rising and gbp$ falling. So the $ had bullish disposition.

The system take some practice, but once you get it down its great. Since you know the personality of the cable you'll be able to determine weather or not to take entry befor or after the bar closes.
Dave
  • #1,720
  • Oct 23, 2006 8:22am Oct 23, 2006 8:22am
Quoting xxDavidxSxx
it depends. I had the reversal butterfly from friday for one thing. I been doing this for a while is another.

Price had bearish tendencies with the new days pivot above the price it bounced off the underside and down a couple of times. And couldn't get across to the upside.

The 8ema was below the 21sma.

So when price started tomove I figured it was good.

If price started from the other side of the pivot and from the other side of the moving averages and the moving averages were in the process of crossing then I'd have waited for the bar to close and next one to pass the low of the one that generated the signal.

I also saw $jpy rising and gbp$ falling. So the $ had bullish disposition.

The system take some practice, but once you get it down its great. Since you know the personality of the cable you'll be able to determine weather or not to take entry befor or after the bar closes.
Dave
Here is chart blow up of entry and explaination.
Attached Image
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