Once in a while we will experience such negative attitude, but its none of our business, because we know it works!! IGNORE IGNORE IGNORE!!! Period!!
, but sometimes my big mouth gets in the way
.Hope you have happy trades this week!
Pips
, but sometimes my big mouth gets in the way.Hope you have happy trades this week!
Pips
Yes I see what you are saying. But could macd also be setting up for tc pattern and a bounce off the 8? And if so how do we read that? I gues my thoughts would be we wait for tc to confirm up with room on the candle for a safe up move. Would that be proper interpataion???
Thanks
First off, I think I'm having trouble w/my charts too...even though they aren't MT4 (Sometimes I have a 100 pip gap opening, sometimes I don't, and price between 2 open charts are different (maybe the feed is messed up b/c of candle close change time for me?) -- either way, I'm not making a trade plan until Monday (after London opens -- maybe wait for NY too).
W/that said -- this is where you need to decide how aggressive you want to be. Price did come to the 21 last week and that could be sign of trend slowing down. MACD (on my screwy chart) is still climbing -- so, the decision is where to enter if you will go long -- 8 or 21. If you are watching live, then switiching to the hourly chart around these levels would be advised -- if the gap is real on my chart, then it will fill @ the 21. Honestly, I have no idea how to plan to trade this pair right now (partly because 1 chart tells me price is 1.4482 and another says 1.4503 (guess I could log onto my account and see actual price
). I do know, I'd like to have MACD cross zero line, travel down a bit, start forming a RB then go long, or buy a break and retest of previous Highest High. Only if I see real price failure below 21 will I consider a short on the pair as it is trending (but may like a rest period).
Not to helpful, eh?
Best,
Pips
- #8,044
- Nov 4, 2007 11:26pm Nov 4, 2007 11:26pm
Hey nadia, you have said what I have been trying to say.. Thanks nadia..
The euro speed has downshifted to the 21ema, so the steam of the uptrend might be slowing down.. Yes, as what Jim has said, we might have a bounced off the 8ema but are you going to take it when we are at 1995 High area. A resistance area 12 years ago comes back into play today. I'm not saying we cannot take it but we have to be cautious at this "playing field".
If we are going to engaged this TC, that might or might not be forming, what should we do and anticipate? We have to ask ourselves a few questions before engaging the coming TC signal.
1) Is this a strong TC signal?
2) Off the 8ema or 21 ema?
3) Do we have enough room to the 1995 high 1.4527?
4) If from the 8ema, do we set our stoploss below 21, because it is losing speed?
To what I can see from now, I will not take it if the trend bounced off 8ema, because we might not have enough room to reach there and we can't BE asap for a breakout the previous 1995 high. I would personally favour a pullback to the 21ema due to speed of the market and a move away. That will be the ideal situation for a long, however, at this point of time, the market might be taking a breather which might caused it to go down and crossed the 21ema(due to the previous attempt). I will also prepared for a short if there is a breach of 21ema, so there are two plans for this situation. Those who are familiar with the 1hr, it is gonna help us alot!! That applies to me as well.. I will be looking at the 1hr extensively.. I think my explaination is not very confusing right??
Let's all have a nice pipping week!!! Good Luck!!
The euro speed has downshifted to the 21ema, so the steam of the uptrend might be slowing down.. Yes, as what Jim has said, we might have a bounced off the 8ema but are you going to take it when we are at 1995 High area. A resistance area 12 years ago comes back into play today. I'm not saying we cannot take it but we have to be cautious at this "playing field".
If we are going to engaged this TC, that might or might not be forming, what should we do and anticipate? We have to ask ourselves a few questions before engaging the coming TC signal.
1) Is this a strong TC signal?
2) Off the 8ema or 21 ema?
3) Do we have enough room to the 1995 high 1.4527?
4) If from the 8ema, do we set our stoploss below 21, because it is losing speed?
To what I can see from now, I will not take it if the trend bounced off 8ema, because we might not have enough room to reach there and we can't BE asap for a breakout the previous 1995 high. I would personally favour a pullback to the 21ema due to speed of the market and a move away. That will be the ideal situation for a long, however, at this point of time, the market might be taking a breather which might caused it to go down and crossed the 21ema(due to the previous attempt). I will also prepared for a short if there is a breach of 21ema, so there are two plans for this situation. Those who are familiar with the 1hr, it is gonna help us alot!! That applies to me as well.. I will be looking at the 1hr extensively.. I think my explaination is not very confusing right??
Let's all have a nice pipping week!!! Good Luck!!
I noticed that BGP/USD has reached the lower trail, and i have notice also the bar have shadow.
So i made a long trade, i entered at 2.0812 and the SL is at 2.0782,
but it got my SL lose, the lower value is 2.0781.
So i am wandering is there any good suggestion on how to set the SL.
Regards
Ado
Whether you believe you can do a thing or not, you are right.
- #8,053
- Edited 9:00am Nov 5, 2007 8:56am | Edited 9:00am
hi everyone,
i've downloaded and read through all the materials that i can get from the wesite and have been studying them from last month. One question occur to me tough, hope u can help me. As you can see from the chart that i've posted, we can see that the bar is closing in to 89 sma.
1. it can make a turn around and return to 21 ema
2. it can go through 89 and start to go down.
my question is, when do i get in the trade? do i wait until round bottom for no.1, wait until it go throughly 89 sma then i enter?
How should i think in this kind of situation, what should i wait?
please help, this question has nagging me for weeks.
After you have done your complete analysis of the market and you have made up your mind as to what you are looking for (either long or short because of reason #1,2,etc...) here is what I normally wait for:
In case of a breakthrough you'll often find the Breakthrough-Retrace-Continue setup. This can occur in either the 4H or 1H timeframes. Often you'll find that the 4H purely breakes through never to return, but if you look at the 1H setup you'll find that there was a retracement, but that it took place in 2 hours time so the 4H candle won't show retracement.
The setup below occured on 10 Oct. on the EURUSD 4H. The 2 red candles indicate a retracement. Although it didn't retrace all the way back to the 89 the setup still worked.
Backtest your favourite pair and you'll find that it has it's own personality regarding this setup.
This is probably only partial info so if anyone else could help or correct I would appreciate it.
Regards
Werner
Phil419
- #8,054
- Edited 9:17am Nov 5, 2007 9:00am | Edited 9:17am
- | Joined Feb 2007 | Status: Trader | 989 Posts
I don't think it's a matter of where to place the SL but the side of the trade you took. MACD it's completely bearish, I don't see the point of going long, at least not with this system.
Can't really provide any analysis based on my charts b/c they are still down...I'm going insane
You did a good job sticking to your trade plan! Sometimes our timing is just a bit off
...& I think your stop was good ( remember to use a few extra pips for wiggle room) -- let you know that the assumptions of the trade weren't quite in harmony and the trade could go against you quite a bit more -- sometimes it happens).
- #8,055
- Nov 5, 2007 9:01am Nov 5, 2007 9:01am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
- #8,056
- Nov 5, 2007 9:09am Nov 5, 2007 9:09am
- Joined Jul 2007 | Status: Screw Long Term 5min For Life! | 1,259 Posts
Keep taking CT trades, I need more money
