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  • #761
  • Jan 29, 2008 2:41pm Jan 29, 2008 2:41pm
Hey Dagoods, are you talking about the swing high of .90xx or .94xx? I would think the .90xx. i really need to keep reading skunny's thread. It's pretty interesting how he plots out his fibs and I like it a lot. Once I get more understanding of it, I plan to implement it into my trading for finding limits and stops.
I dream, therefore I become.
  • #762
  • Jan 29, 2008 3:40pm Jan 29, 2008 3:40pm
Quoting mike w
Hey Dagoods, are you talking about the swing high of .90xx or .94xx? I would think the .90xx. i really need to keep reading skunny's thread. It's pretty interesting how he plots out his fibs and I like it a lot. Once I get more understanding of it, I plan to implement it into my trading for finding limits and stops.

i am looking for the high to be broken (and not just pierced) and then we have some real nice targets there.....
  • #763
  • Jan 29, 2008 7:27pm Jan 29, 2008 7:27pm
hey mike did u see eur/gpd I wasnt atching it and now i see it ...i remember ltc told us to watch it and now i notice the monthly chart and the PA dang...am I too late?
  • #764
  • Jan 29, 2008 8:17pm Jan 29, 2008 8:17pm
Quoting mike w
The weekly aussie is looking like a perfect trade as well.
This one looks good for short now---I believe.

KissFan
  • #765
  • Jan 30, 2008 10:16am Jan 30, 2008 10:16am
Quoting KissFan
This one looks good for short now---I believe.

KissFan
I wouldnt go short there Roger, check it out. There is a pin bar off of support on the weekly chart. We got a retracement last night down to 8860 (ten pips off, damn I need a new crystal ball lol), and now we're moving upwards again. At the close of today I would look to add more to the position for a long. Why did you think it looks good for a short?
I dream, therefore I become.
  • #766
  • Jan 30, 2008 10:18am Jan 30, 2008 10:18am
Quoting dagoods
hey mike did u see eur/gpd I wasnt atching it and now i see it ...i remember ltc told us to watch it and now i notice the monthly chart and the PA dang...am I too late?
It's never too late to make a good trade my man! You just have to wait for it to come to you.

Right now, to me, it looks like it's facing support on the daily and so I won't plan on any action until I see which way price favors at the support. If it breaks, then I would look to short. If not, then I am staying flat on this pair for now unless PA tells me to get in.
I dream, therefore I become.
  • #767
  • Jan 30, 2008 1:24pm Jan 30, 2008 1:24pm
That went well for all of our trades taken this week and so now I am moving the stoploss up and down respectively on these trades so as to have no risk. That's what it's all about folks, free trades.
I dream, therefore I become.
  • #768
  • Jan 30, 2008 2:44pm Jan 30, 2008 2:44pm
I plan on adding more longs on the eur/usd when it retraces. I'll post when that happens. I am looking for it to retrace at least to 1.4830's. Same with the usd/chf, except the exact opposite. Same with the aussie too lol
I dream, therefore I become.
  • #769
  • Jan 30, 2008 4:22pm Jan 30, 2008 4:22pm
Ok, I have taken two shorts. One on the eur/jpy and one on the cad/jpy. I have taken these because of bearish bars off of resistance on the daily timeframe. With that, I look to see tomorrow as a bearish day. We are still above support on the 4 hour timeframe however, and I will have to watch carefully because of this.
I dream, therefore I become.
  • #770
  • Jan 30, 2008 6:19pm Jan 30, 2008 6:19pm
I've added to the euro position and my aussie trades got taken out with profit. I'll say it again...free trades are where it's at.
I dream, therefore I become.
  • #771
  • Jan 31, 2008 1:23pm Jan 31, 2008 1:23pm
Alritey, Im glad I exited my positions early this morning on my jpy trades. There was reason for that as well. You'll see if you look at your daily charts, that we've had 2 waves up as correctional waves. Those pin bars took price down to create the third dip in order to begin the third upwave. This makes me think that we will see a strong day in these pairs although they will be facing resistance fairly soon. At the daily close, I will post with any thoughts.
I dream, therefore I become.
  • #772
  • Jan 31, 2008 4:55pm Jan 31, 2008 4:55pm
Im taking a few more trades on the eur/jpy and the gbp/jpy off the daily charts. If your interested as to why or what position, try to figure it out then tell me. Spark yo mind! lol
I dream, therefore I become.
  • #773
  • Jan 31, 2008 5:27pm Jan 31, 2008 5:27pm
Ok, ill just let everyone know I went long on the dailies and plan to have my limits at the daily resistance on both pairs.
I dream, therefore I become.
  • #774
  • Jan 31, 2008 5:32pm Jan 31, 2008 5:32pm
Quoting mike w
Im taking a few more trades on the eur/jpy and the gbp/jpy off the daily charts. If your interested as to why or what position, try to figure it out then tell me. Spark yo mind! lol
You would short here because new daily candle formed under trendline drawn from Jan 22nd low to Jan 28th low. TP target 157.60?

BTW, I jumped in to short CADJPY yesterday at 4:00pm and closed this morning for 143 pip gain. Love those trades that just scream at you!

KissFan
  • #775
  • Jan 31, 2008 5:36pm Jan 31, 2008 5:36pm
Quoting KissFan
You would short here because new daily candle formed under trendline drawn from Jan 22nd low to Jan 28th low. TP target 157.60?

BTW, I jumped in to short CADJPY yesterday at 4:00pm and closed this morning for 143 pip gain. Love those trades that just scream at you!

KissFan

Roger, you need to learn price action man! Get on it asap, it will make you a better trader. I know you dont know it because if you did, you would yell out, "Pin bar". At least for the eur/jpy anyways.

On another note, nope I went long. I am going long until the tunnel areas on the daily, which are resistance and where we will probably see price revert away from. I am going long until about 159 and 213 for these pairs. Other than these two, I am just making intraday trades for small amounts.

As for those shorts yesterday, they were great man. lol
I dream, therefore I become.
  • #776
  • Jan 31, 2008 5:39pm Jan 31, 2008 5:39pm
Oh damn son,,,,check out the monthly pound. I am trading this so that I can get better used to the monthly charts. Long, btw.
I dream, therefore I become.
  • #777
  • Jan 31, 2008 5:43pm Jan 31, 2008 5:43pm
Based off that monthly chart, I could easily see the upper teens for the gbp/jpy coming into play again before we head south again.
I dream, therefore I become.
  • #778
  • Jan 31, 2008 5:43pm Jan 31, 2008 5:43pm
Quoting mike w
Ok, ill just let everyone know I went long on the dailies and plan to have my limits at the daily resistance on both pairs.
Throw me a lifesaver here. I'm not in either of these trades and if I were would not be buying. Help me understand this play.

KissFan
  • #779
  • Jan 31, 2008 5:49pm Jan 31, 2008 5:49pm
Quoting KissFan
Throw me a lifesaver here. I'm not in either of these trades and if I were would not be buying. Help me understand this play.

KissFan
Ok, this deals with waves too. check out your daily charts. So far, from the bottom, we've had 2 waves up. That last move down created the retracement after wave 2 in order to fuel wave three. Normally, after these 3 waves, the prior trend (down) continues. I am just playing on the third wave up to the resistance. The resistance would give the already near exhausted third wave up rejection, which should push us back down. Do you understand what I mean or no?
I dream, therefore I become.
  • #780
  • Jan 31, 2008 5:53pm Jan 31, 2008 5:53pm
this is risky as its against the main trend and I know I am not practicing what I preach here. At the slightest notice of shorts coming into play, I am getting out.

Another reasoning for thinking the gbp/jpy will rise anyways, is that monthly bullish pin bar on the gbp/usd. That should fuel us upwards at least for a little while.
I dream, therefore I become.
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