Thanks pips...
See you guys next week.
Trade well everyone.
See you guys next week.
Trade well everyone.
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DislikedDate: 10 Sept 07
Entry at 0605 EST
Long @ 2.0321
SL @ 2.0260
TP: 2.0361 (23.1 fib) TP 2: 2.0383 (38.2 fib)
Reasons: I feel its going to go up because of the price currently sitting on trendline and above 8ema. 1hr chart shows a TC pattern, so i took it. Let's see how it goes..Ignored
DislikedHi everybody.
I have just traded eur/usd short and I have gotten stopped out.
10sep07 10:20 gmt
eur/usd
4h chart
macd shows a little double top in its high
1h chart
macd lower high
using ema8 as support
short 1.3782
sl:1.3802 (-20)
(a)tp: 1.3752 (+30) ema 8
(a)tp 1.3722 (+60) inbetween ema8 and ema21
10.30-11.00 gmt
sl= -20 pips
I think there is short potential to eur/usd but maybe I should have entered
the trade after the support of the EMA 8 on the 1h chart is broken.
Until now the support is still holding.
Would EMA 21 make for support after EMA 8 is broken?
Should one just enter the short trade after EMA 21 breaks?
What do you think?
GreetingsIgnored
DislikedDate: 10 Sept 07
Entry at 0605 EST
Long @ 2.0321
SL @ 2.0260
TP: 2.0361 (23.1 fib) TP 2: 2.0383 (38.2 fib)
Reasons: I feel its going to go up because of the price currently sitting on trendline and above 8ema. 1hr chart shows a TC pattern, so i took it. Let's see how it goes..Ignored
DislikedMight be looking forward to add onto my long positions when a TC forms again on 1hr..Ignored
DislikedHi guys,
Does anyone trade the pairs w/standard horizontal line settings that differ from the normal .0015, .0030, and .0045? Going to guess that the retrace level is greater than 1...but what is it?
Happy trading,
PipsIgnored
DislikedHello parlenk
I'm not attempting to answer for Philip, since ... well ... it's his system, but I think he's said a couple of times that everything is the result of two years of monitoring and demo trading Eur/Usd.
I'm looking into the system and I set the levels at long-term ATR. For Eur/Usd this is about 30 pips on the 4-hour chart and so the levels correspond to 50%, 100% and 150% of that (works for Usd/Jpy too). This gives you 0.0025, 0.0050, 0.0075 for a 4-hour Gbp/Usd (ca. 50 ATR long-term), 0.0020, 0.0040, 0.0060 for 4-hour Eur/Jpy (ca. 40 ATR long-term), 0.0065, 0.0130, 0.0195 for daily Gbp/Usd (ca. 135 ATR long-term).
It's just and idea, and it does the trick on my charts.
Cheers,
dsl
PS: Thanks for sharing this system, Philip.Ignored
Dislikedfor the GBP/JPY they are 0.15, 0.30 and 0.45 and then the same -0.15 etc.Ignored