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  • #521
  • Jan 3, 2008 5:41pm Jan 3, 2008 5:41pm
Quoting dagoods
yeah i see what your saying....but with my sysytem the reason i like the trade is that price has retraced to the top of the triangle ..in other words i expect this is the highest it will go , i am trading on expectation that it will rise only a bit more before being heavily rejected by the upper daily trendline....(notice the MTF stochs starting to smooth and wanting to point down) so i am pretty darn confident in this short (unless news tommorow on the usd nfp screws it up) and I am very comfortable with my stop leevel.... if it breaks that stop...then i would accept the loss and wait to re-enter.....
I agree with you entirely. Aside from my methodology, I noticed the trendline as well which should push price down. Good stuff Dagoods!
I dream, therefore I become.
  • #522
  • Jan 3, 2008 5:42pm Jan 3, 2008 5:42pm
I'm going to post an hourly chart for you to check out as well. Notice how the trendline is pushing it down on this lower timeframe as well. Very good trade in my opinion. The stoploss moves lower along with the trendline and the take profit just keeps getting bigger and bigger. Excellent stuff!
Attached Image (click to enlarge)
Click to Enlarge Name: dagoodddiieeesss.gif Size: 15 KB
I dream, therefore I become.
  • #523
  • Jan 3, 2008 6:00pm Jan 3, 2008 6:00pm
Wow, do I love my job. lol

You know, I've been thinking about a few things. First, I come from a fairly depressed area, meaning that most people around here don't make a lot of money. It's amazing though, because I'll tell people about what I do and tell them that there is a lot of work involved but the reward for your work will blow you away. I don't understand it, but people actually shy away from that. If someone were to tell you that they can change your life, wouldn't you want them to at least try to? IT's ridiculous. Ok, sorry about that rant. That just bothered me. I guess you can't help people that don't want to help themselves and that's the problem with the world we live in. I plan on changing the world, I really do. I am getting a good start through this and then I really plan to make people's lives better through it.
I dream, therefore I become.
  • #524
  • Jan 3, 2008 6:04pm Jan 3, 2008 6:04pm
Mike... there are various Pin Bars today on JPY crosses... I have chosen to take the CAD/JPY Pin hoping that JPY need to retrace AND because of your theory of CAD getting stronger... Let's see if it pans out for a 100 pips or so...
  • #525
  • Jan 3, 2008 6:08pm Jan 3, 2008 6:08pm
Quoting mike w
I'm going to post an hourly chart for you to check out as well. Notice how the trendline is pushing it down on this lower timeframe as well. Very good trade in my opinion. The stoploss moves lower along with the trendline and the take profit just keeps getting bigger and bigger. Excellent stuff!

yeah thats how i timed my entry hoping she holds!!!! i'm gonna pm quecee he might like this too
  • #526
  • Jan 3, 2008 6:12pm Jan 3, 2008 6:12pm
Quoting Tiki Trader
Mike... there are various Pin Bars today on JPY crosses... I have chosen to take the CAD/JPY Pin hoping that JPY need to retrace AND because of your theory of CAD getting stronger... Let's see if it pans out for a 100 pips or so...
Hey Tiki, I would like to trade it yes. Honestly, it looks like it's going to turn out as a solid trade but it goes against my rigid rules I've set for myself trading. I don't allow myself to trade against the trend, but I'll tell you this, I plan on shorting all of them once they retrace. Good luck Tiki!
I dream, therefore I become.
  • #527
  • Jan 3, 2008 6:17pm Jan 3, 2008 6:17pm
Quoting mike w
I'm going to post an hourly chart for you to check out as well. Notice how the trendline is pushing it down on this lower timeframe as well. Very good trade in my opinion. The stoploss moves lower along with the trendline and the take profit just keeps getting bigger and bigger. Excellent stuff!

i'm watching this trade carefully because we have just penetrated the 1 hour tl to the upside.... uh oh! lol no biggie... price does that sometimes....but... i may have to exit and look for another entry short when she decides to come around to our way of thinking.... but if she does go up it only means more pips on the ride down later.... (ilearned that from you mike! lol
  • #528
  • Jan 3, 2008 6:19pm Jan 3, 2008 6:19pm
Quoting Matrixxdg
Hi Guys,
This is what I am looking at. Not perfect but a GOOD hammer on the E/Y Daily in an apparent Uptrend on the weekly. Nice FIBS leading to the bottom of yesterdays wick.

I think this is signaling a reversal...what do the powers at be think?

MG
Ok...so you were right. I didn't look on the weekly. Thanks...I didn't place the trade. BUT now, it's headed South like a Banshee in heat.

MG
  • #529
  • Jan 3, 2008 6:20pm Jan 3, 2008 6:20pm
Quoting dagoods
i'm watching this trade carefully because we have just penetrated the 1 hour tl to the upside.... uh oh! lol no biggie... price does that sometimes....but... i may have to exit and look for another entry short when she decides to come around to our way of thinking.... but if she does go up it only means more pips on the ride down later.... (ilearned that from you mike! lol
That is right! If you'll check out the 4 hour timeframe, I could see price moving up to .9910 and then dropping again. This wouldn't negate our thoughts or anything like that, but rather create the retrace needed for the first wave down based on that larger timeframe. From there, we should see a significant move downwards.
I dream, therefore I become.
  • #530
  • Jan 3, 2008 6:21pm Jan 3, 2008 6:21pm
Quoting Matrixxdg
Ok...so you were right. I didn't look on the weekly. Thanks...I didn't place the trade. BUT now, it's headed South like a Banshee in heat.

MG
Yep, there ya go Mike! That's why I don't trade up in a down market- ever. It only leads to losses, which I don't like. lol
I dream, therefore I become.
  • #531
  • Jan 3, 2008 6:24pm Jan 3, 2008 6:24pm
Quoting dagoods
i'm watching this trade carefully because we have just penetrated the 1 hour tl to the upside.... uh oh! lol no biggie... price does that sometimes....but... i may have to exit and look for another entry short when she decides to come around to our way of thinking.... but if she does go up it only means more pips on the ride down later.... (ilearned that from you mike! lol
Based on my charts, it hasn't broken above yet. We need to see a clear break above and a close above. Even then, I would wait for confirmation bars coming up next.
I dream, therefore I become.
  • #532
  • Jan 3, 2008 6:25pm Jan 3, 2008 6:25pm
Quoting mike w
That is right! If you'll check out the 4 hour timeframe, I could see price moving up to .9910 and then dropping again. This wouldn't negate our thoughts or anything like that, but rather create the retrace needed for the first wave down based on that larger timeframe. From there, we should see a significant move downwards.

was way ahead of you....lmao put my stop above the 4 hour upper tl plus a littlw cushion in case she penetrates without breaking on a test up there..... its good risk rewad i like it...and if she doesnt conply i'll get the pips back on the way back down good stuff mike
  • #533
  • Jan 3, 2008 6:27pm Jan 3, 2008 6:27pm
Quoting dagoods
was way ahead of you....lmao put my stop above the 4 hour upper tl plus a littlw cushion in case she penetrates without breaking on a test up there..... its good risk rewad i like it...and if she doesnt conply i'll get the pips back on the way back down good stuff mike
Awesome, tell me, how good does it feel to have a grasp on trading? lol
I dream, therefore I become.
  • #534
  • Jan 3, 2008 6:29pm Jan 3, 2008 6:29pm
Aw shucks you guys... I beg to differ a bit at least on the CAD/JPY

Price is bouncing off a pretty strong trend line... my indicators say trend is really UP... red white and blue....

Price is retracing right now... lets see how this goes late tonight and tomorrow... same goes for EUR/JPY......
Attached Image (click to enlarge)
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  • #535
  • Jan 3, 2008 6:33pm Jan 3, 2008 6:33pm
Quoting Tiki Trader
Aw shucks you guys... I beg to differ a bit at least on the CAD/JPY

Price is bouncing off a pretty strong trend line... my indicators say trend is really UP... red white and blue....

Price is retracing right now... lets see how this goes late tonight and tomorrow... same goes for EUR/JPY......
Ohhh wow...I like your point on that...I'm heading out to play a hockey game, but I'll be back later and I am definitely going to look into that pair! Thanks a lot for that Tiki!
I dream, therefore I become.
  • #536
  • Jan 3, 2008 6:39pm Jan 3, 2008 6:39pm
Quoting Tiki Trader
Aw shucks you guys... I beg to differ a bit at least on the CAD/JPY

Price is bouncing off a pretty strong trend line... my indicators say trend is really UP... red white and blue....

Price is retracing right now... lets see how this goes late tonight and tomorrow... same goes for EUR/JPY......

i like your thinking ....cad getting stronger goes right along with my usd/cad short play also(or maybe its yen getting weaker ..... either way i lke your analysis anyway good luck
  • #537
  • Jan 3, 2008 7:11pm Jan 3, 2008 7:11pm
But very likely when Mike gets back from Hockey... if he hasn't broken his knee cap or gotten all busted up in a fight... he will say it is US $ getting weaker rather than CAD getting stronger... and the problem is, I really don't know...

But I see enough to trade the Pin Bar... if price goes down... no worries, because the order doesn't kick in until a break up of the PIN Bar...

Quoting dagoods
i like your thinking ....cad getting stronger goes right along with my usd/cad short play also(or maybe its yen getting weaker ..... either way i lke your analysis anyway good luck
  • #538
  • Jan 3, 2008 9:54pm Jan 3, 2008 9:54pm
Quoting Tiki Trader
But very likely when Mike gets back from Hockey... if he hasn't broken his knee cap or gotten all busted up in a fight... he will say it is US $ getting weaker rather than CAD getting stronger... and the problem is, I really don't know...

But I see enough to trade the Pin Bar... if price goes down... no worries, because the order doesn't kick in until a break up of the PIN Bar...

oil hit 100 a brarrel usually means cad gets stronger... not a 100% correlation but the commodity correlation has been working lately.... so usd weaker cad stronger = yummy pips for all of us! yeah woohoo party time exccellent lol
  • #539
  • Jan 3, 2008 9:55pm Jan 3, 2008 9:55pm
Quoting Tiki Trader
But very likely when Mike gets back from Hockey... if he hasn't broken his knee cap or gotten all busted up in a fight... he will say it is US $ getting weaker rather than CAD getting stronger... and the problem is, I really don't know...

But I see enough to trade the Pin Bar... if price goes down... no worries, because the order doesn't kick in until a break up of the PIN Bar...

oil hit 100 a brarrel usually means cad gets stronger... not a 100% correlation but the commodity correlation has been working lately.... so usd weaker cad stronger = yummy pips for all of us! yeah woohoo party time exccellent lol
  • #540
  • Jan 3, 2008 9:59pm Jan 3, 2008 9:59pm
Yes I know that... that is the principle reason why I decided to trade the CAD/JPY Pin Bar...

But you better knock on wood...!!! Don't count your pips before they pop...!!! You'll jinx it for all of us ...!!!

Quoting dagoods
oil hit 100 a brarrel usually means cad gets stronger... not a 100% correlation but the commodity correlation has been working lately.... so usd weaker cad stronger = yummy pips for all of us! yeah woohoo party time exccellent lol
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