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PowerTrading/The River

  • #341
  • Nov 20, 2007 11:34am Nov 20, 2007 11:34am
Here is the Zone for Geppy ! It also fits superb between the Fibs like on PT`s Cable Pics..
Attached Image (click to enlarge)
Click to Enlarge Name: 201107 GeppyRiver15 New Zone.png Size: 47 KB
  • #342
  • Nov 20, 2007 11:46am Nov 20, 2007 11:46am
Quoting AidanPryde
Here is the Zone for Geppy ! It also fits superb between the Fibs like on PT`s Cable Pics..

I think it will be much easier to trade tonight. Yesterday's zone was very wide. Good job on Fibs and charts.

PT
Zone Breakout Method
  • #343
  • Nov 20, 2007 11:55am Nov 20, 2007 11:55am
Here is a current 4hr chart and notice a few things. First we broke another major trend line long although this one is not quite as strong as the one we broke short. Also notice we have stalled around the 38.2 fib of the down move. This could be a good place to turn and continue the downward trend but it could also blow it out and go long. Most important thing is this is a great place for a break.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver63.gif Size: 16 KB
Zone Breakout Method
  • #344
  • Nov 20, 2007 12:21pm Nov 20, 2007 12:21pm
Quoting PowerTrader
Most important thing is this is a great place for a break.

PT
sorry..don`t get it..break =pause,consolidation OR break of the blue 38.2 or the black 61.8?

Please define ..

edit:Or the break of the zone..yep thats it for sure : right?
  • #345
  • Nov 20, 2007 12:33pm Nov 20, 2007 12:33pm
Quoting AidanPryde
sorry..don`t get it..break =pause,consolidation OR break of the blue 38.2 or the black 61.8?

Please define ..

edit:Or the break of the zone..yep thats it for sure : right?
I use the 4 hr to get a look at what is happening over a longer period of time. The short term moves are always just a part of the big picture so you have to know the fibs on the daily and 4hr to have a better guess at where we are heading. Now the break of the trend line is when we get a candle on the other side. Consolidation is when price gathers in one area and ranges. This is what we trade, the break out of consolidation.

PT
Zone Breakout Method
  • #346
  • Edited 1:12pm Nov 20, 2007 12:37pm | Edited 1:12pm
here my new entry..geppy broke the box ..

4H Picture: Imho Price is clearly consolidating between last weeks lows and this Weeks Pivot ! So there should be some Potential to the downside now..


EDIT: I was stopped out for 6 pips or so and then it fell like a rock ..arghh..
I Entered again @ around 226.65

Quoting PowerTrader
I use the 4 hr to get a look at what is happening over a longer period of time. The short term moves are always just a part of the big picture so you have to know the fibs on the daily and 4hr to have a better guess at where we are heading. Now the break of the trend line is when we get a candle on the other side. Consolidation is when price gathers in one area and ranges. This is what we trade, the break out of consolidation.

PT
Yep i also look often at 4H(where i trade the cornflower since a while) daily and weekly..

I just was confused because of the term break..now its clear..great to hear from soebody else the stuff i am doing in analyzing is good..

thx for helping me PT !!
Attached Image (click to enlarge)
Click to Enlarge Name: 201107 Second Geppy River15 Entry.png Size: 97 KB
  • #347
  • Nov 20, 2007 2:47pm Nov 20, 2007 2:47pm
Was stopped out again on geppy..seems 75pip stop level is still not enuff to let it breathe..

i love this beast haha..
  • #348
  • Nov 20, 2007 3:48pm Nov 20, 2007 3:48pm
Quoting AidanPryde
Was stopped out again on geppy..seems 75pip stop level is still not enuff to let it breathe..

i love this beast haha..
Wrong time of the day. I do not like to take trades past 18 or 19 GMT unless there is some major event happening.

PT
Zone Breakout Method
  • #349
  • Nov 20, 2007 4:39pm Nov 20, 2007 4:39pm
Here is my current Zone going into tonights trading. It is from the high of today back to the 38.2 fib retracement. I may tighten it up to the 23.6 area if we stay in this tight range above it.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver64.gif Size: 22 KB
Zone Breakout Method
  • #350
  • Nov 20, 2007 5:53pm Nov 20, 2007 5:53pm
Quoting PowerTrader
Wrong time of the day. I do not like to take trades past 18 or 19 GMT unless there is some major event happening.

PT
Absolutely..i should sit on my hands now and wait for London Open!
  • #351
  • Nov 20, 2007 11:23pm Nov 20, 2007 11:23pm
Here is our current chart. I have narrowed the Zone to go from the previous high until just recently to the 23.6. Be careful on the break of this high. Be sure you get a break and not just penetration of the Zone. You should get a good candle moving above or below to enter. Remember this is a Holiday week in the US and things will probably be a little strange. Be smart!
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver65.gif Size: 22 KB
Zone Breakout Method
  • #352
  • Nov 20, 2007 11:55pm Nov 20, 2007 11:55pm
This is exactly what I was talking about in my previous post. You need confirmation before entering a trade. I only enter on penetration when there is serious price action.
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver66.gif Size: 22 KB
Zone Breakout Method
  • #353
  • Nov 21, 2007 2:28am Nov 21, 2007 2:28am
Good Morning Everyone !

I have been stopped out 2 times on Geppy @ demo because i could not sit on my hands...Finally i entered G/J Short and Cable short on an 350 Euro Life Account (Problem is min. 0.1Lot (10k) so 40Pip Stop on G/U means 10% of capital at least for the first few trades)

Attached my screens for both ! (I also shorted some Pips out of E/J)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 211107 Geppy River15 Entry.png Size: 63 KB
Click to Enlarge Name: 211107 GPBUSD River15 Entry.png Size: 86 KB
Click to Enlarge Name: CMS Account.png Size: 7 KB
  • #354
  • Edited 4:01am Nov 21, 2007 3:12am | Edited 4:01am
GPB/JPY Target HIT !
EUR/JPY SL moved to BE!
GPB/USD around BE ..still waiting for more bearish powers

Edit : G/J flew 70pips over target..i Opened another Postion to take adavantage of another huge fall..

Next Big Support : 221.50-221.00

EUR/JPY around +41Pips ..still some 40Pips to Target
GPB/USD around +20Pips to +30pips
  • #355
  • Edited 4:52am Nov 21, 2007 3:54am | Edited 4:52am
Eur/Jpy Target HIT !!

GPB/USD around +50pips!

New opened G/J around +42Pips

Both SL moved to BE! And here take a look @ Yen Futures! Japanese Housewifes buying yen lol ..bye bye CarryTrade

(added 0.1 lot Short GPB/USD as there are still 100pips until Target..)

EDIT: To avoid confusion..Pund weakness is mostly because of the MFC Meeting Minutes..Pound Hurt by Gieve MPC Vote Shock..( I personally cannot judge this yet but i did not expect that action ..as the news came in as forecasted)
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 21107 YEN Futures.png Size: 31 KB
Click to Enlarge Name: misc.png Size: 52 KB
  • #356
  • Nov 21, 2007 4:40am Nov 21, 2007 4:40am
GPB/USD Daily Candle Broke 38.2 Eyeing 50.0
Attached Image (click to enlarge)
Click to Enlarge Name: misc.png Size: 33 KB
  • #357
  • Nov 21, 2007 7:43am Nov 21, 2007 7:43am
Little behind posting today. You can see based on my previously posted chart we broke the Zone short and had a run for around 100 pips. The strategy works.

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver67.gif Size: 21 KB
Zone Breakout Method
  • #358
  • Nov 21, 2007 7:58am Nov 21, 2007 7:58am
Quoting AidanPryde
GPB/JPY Target HIT !
EUR/JPY SL moved to BE!
GPB/USD around BE ..still waiting for more bearish powers

Edit : G/J flew 70pips over target..i Opened another Postion to take adavantage of another huge fall..

Next Big Support : 221.50-221.00

EUR/JPY around +41Pips ..still some 40Pips to Target
GPB/USD around +20Pips to +30pips
Great job and you are getting some serious pips. One caution! Resist the temptation to take too many trades. Once you have hit your targets, make sure you don't see a trade where is none. You are doing a great job, keep up the great work and posts.

PT
Zone Breakout Method
  • #359
  • Nov 21, 2007 10:09am Nov 21, 2007 10:09am
Took the bounce off the 38.2 fib and just closed for another 20 pips. Good day!

PT
Attached Image (click to enlarge)
Click to Enlarge Name: cableriver68.gif Size: 21 KB
Zone Breakout Method
  • #360
  • Edited 10:35pm Nov 21, 2007 10:19pm | Edited 10:35pm
Quoting PowerTrader
Great job and you are getting some serious pips. One caution! Resist the temptation to take too many trades. Once you have hit your targets, make sure you don't see a trade where is none. You are doing a great job, keep up the great work and posts.

PT
You`re right on the temptation to trade..thats a thing i still have not under controll sufficently ..but i think that comes with practive..at least i hope

Thank you very much PT ! Your words mean a lot for an aspiring youngster like me ...may i ask how long you`re at this game and how long it did take you to "breathe" the Powertrading Method?
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Here my actual River entrys , i am sorry i could not make an finishing post of the last trades (i made some dumb mistakes and actually only made 50pips lol) ..and will not repost them in respect of the order of posts...could become confusing..but will try to explain those new trades when they are finished.


After seeing Yen Futures breaking out to the short side and after reading some stuff think Eur/jpy and aud/jpy are fundamentally the strongest, i decided to trade the river with them as they are the best for an strong rebound..dont want to trade against the bearish pound..the weekly channel still has some potential to the downside..

Here the screens! Black Fibs are The Fibs of the last Move (15mins); Blue are 4H Fibs and MediumSpringGreen is Daily Chart Fib..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 221107 Yen Futures Short Breakout.png Size: 30 KB
Click to Enlarge Name: 221107 eurjpy river15 entry.png Size: 61 KB
Click to Enlarge Name: 221107 audjpy river15 entry.png Size: 75 KB
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