How do I go to the Skype chat? Is anyone there at this moment? (4:20 AM EST)
Wow, jland, good point and so simple!
Wow, jland, good point and so simple!
I pulled a trigger on that G/U TC signal. Went long at 9957. My impatience cost me....Currently -27pips.
G/U bounced 89sma on 1 hr chart. I decided to keep it until s/l 9903 would be hit.
The drop of U/J caused unwinding of Yen carry, E/J G/J dropped, while pulling down E/U G/U sharply. Hope Yen carry would resume soon.
Hi jland and ira,
I pulled a trigger on that G/U TC signal. Went long at 9957. My impatience cost me....Currently -27pips.
G/U bounced 89sma on 1 hr chart. I decided to keep it until s/l 9903 would be hit.
The drop of U/J caused unwinding of Yen carry, E/J G/J dropped, while pulling down E/U G/U sharply. Hope Yen carry would resume soon.
Hi jland and ira,
I pulled a trigger on that G/U TC signal. Went long at 9957. My impatience cost me....Currently -27pips.
G/U bounced 89sma on 1 hr chart. I decided to keep it until s/l 9903 would be hit.
The drop of U/J caused unwinding of Yen carry, E/J G/J dropped, while pulling down E/U G/U sharply. Hope Yen carry would resume soon.
Happy pipping everyone! Thanks Phillip, Alcastro & O'Zeeke for the earlier posts
So far...I'm not seeing any signals.... Saw a great short signal for Cable yesterday, but I was on the same page as Doji Star and took a pass (wish I hadn't as the pair declined >50 pips!!)...The long for Swissie was quite nice as well. I'm being a bit cautious about entering the market right now because of the event risk this week (Wed. FOMC & Thu. UK Rate decision...think this will make trading ahead difficult...except for the profit taking that may happen ahead of time). Again, I wish I could trade w/out thinking b/c the signal earlier was perfect!!! Oh well, I consider it part of the pre-flight check list
...& I'd much rather delay my flight for safety sake .
& Have you all heard that Piggy Roaring tonight? TamKras' E/J trade is 100 pips in profit right now (AT THE 89)!!!! Congrats!!!!! Her patience has once again paid off!
May everyone have profitable trades today
Pips
So far...I'm not seeing any signals....
Saw a great short signal for Cable yesterday, but I was on the same page as Doji Star and took a pass (wish I hadn't as the pair declined >50 pips!!)...The long for Swissie was quite nice as well. I'm being a bit cautious about entering the market right now because of the event risk this week (Wed. FOMC & Thu. UK Rate decision...think this will make trading ahead difficult...except for the profit taking that may happen ahead of time). Again, I wish I could trade w/out thinking b/c the signal earlier was perfect!!! Oh well, I consider it part of the pre-flight check list ...& I'd much rather delay my flight for safety sake .& Have you all heard that Piggy Roaring tonight? TamKras' E/J trade is 100 pips in profit right now (AT THE 89)!!!! Congrats!!!!! Her patience has once again paid off!
May everyone have profitable trades today
Pips
- #4,136
- Edited 10:06am May 8, 2007 7:40am | Edited 10:06am
- | Joined Feb 2007 | Status: Trader | 989 Posts
Hi all,
I missed another good entry oppotunity.
See the attached USD/CHF 4 hr chart.
4GMT candle closed above 200sma (tomato color).
At the same time, EUR/USD candle closed below 89sma, and E/U dropped like a stone.
I ever posted similar chart of USD/JPY a few weeks ago. It was 89sma above which the candle closed at that time.
I hope one day I could immediately enter the trade upon similar breakout.
ps : Hi RyanD, I use FXCM for live trade and use Interbank demo account for charting only. FXCM has mini account. Hope this info would help you.
,Do you see that really nice round bottom formed from Price Action on your chart? (I am talking about the candles....NOT the MACD...The MACD confirmed the entry when the candle closes above the High of the ROUNDING CANDLE PATTERN). When you got a close above the round bottom (IB) High (5 candles back on your chart)...along w/MACD confirmation for directional move....and prior movements that have broken through 200....you would have had an Excellent entry for Swissie....& 200 wouldn't nec. be that strong of a resistance level...365 is the major resistance level now.....
Just my contribution to the post that asked, Can you teach me how to read price action....Kappa's chart showed a beautiful round bottom (both in PRICE ACTION/Chart pattern and MACD trigger....and notice the top prior (candle pattern)....that is an almost picture perfect Round Top....I'd look for price to fail around the low of the rounding top w/Macd signal to see if short was in the cards...or add to position if we get a close above the low w/TC (don't think swissie will give us that quite yet....just a hunch).
Happy trading...
Pips
Thanks for the FXCM suggestion. I have an old oanda account but not sure if I should go ahead an use them. I have been trading this strategy with a 3000 demo account and I feel like I have been trading very conservatively, like getting out before the full profits are made or at the first sign of change in the MACD and dependence on where the price is to the 8, 21 & 89 MA's, I get out. FOr the past 2 weeks I am up +157 PIPS. I am trading very strcitly and the signals really have to be there, but I love this 4 hr strategy. I really grasped it weel. Thanks Phillip!!! I am not going to trade live until my account of 3000 has double. SO I have some time to get live trading lined up.
Great Job! Keep up the good work (discipline and focus are really the keys! & seems like you have figured it out!!). Nicely done
Hi Kappa (I'm just using your beautiful chart pattern for an example, hope you don't mind)
Do you see that really nice round bottom formed from Price Action on your chart? When you got a close above the round bottom (IB) High (5 candles back on your chart)...along w/MACD confirmation for directional move....and prior movements....you would have had an Excellent entry for Swissie....
Just my contribution to the post asking....Can you teach me how to read price action....Your chart showed a beautiful round bottom....and notice the top prior....that is a picture perfect Round Top....I'd look for price to fail around the low of the rounding top w/Macd signal to see if short was in the cards...or add to position ifwe get a close above the low w/TC (don't think swissie will give us that quite yet....just a hunch).
Happy trading...
Pips
