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  • #81
  • Feb 19, 2008 5:46pm Feb 19, 2008 5:46pm
Quoting raczekfx
Great Minds think alike.. eh.....?

we'll see what happens next.
Looks like my forecast of possibly seeing 0.9300 isn't going to happen. Boy was I wronggggggg on that one! Atleast the 0.9200 one came true if that counts for anything? lol
  • #82
  • Feb 19, 2008 6:25pm Feb 19, 2008 6:25pm
Quoting zoopy
Looks like my forecast of possibly seeing 0.9300 isn't going to happen. Boy was I wronggggggg on that one! Atleast the 0.9200 one came true if that counts for anything? lol
Yep. Raczek and Razl are pushing them south. I plead guilty of joining the ride. Now all I need is to take some swimming lessons against the trend..
  • #83
  • Feb 19, 2008 6:27pm Feb 19, 2008 6:27pm
Ok... looks like my one trade is going to get knocked out with +60 pips. I've re-evaluated the current conditions to see where is the next area I may buy at. I'm currently looking at a line chart which shows support at 1.4675. The closest round numbers to this is 1.4700 and 1.4650 which is where I originally bought at. I've placed orders to buy at 1.4650. The lower the better!
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_daily_feb19.gif Size: 9 KB
  • #84
  • Feb 19, 2008 6:40pm Feb 19, 2008 6:40pm
Looks like this pair may be making the plunge. I'm not trading this pair but am watching the area of 0.9050. Based on my charts and just for practice, I'm a buyer at the 0.9050 level.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_daily_feb19.gif Size: 10 KB
  • #85
  • Edited Feb 20, 2008 1:55am Feb 19, 2008 6:46pm | Edited Feb 20, 2008 1:55am
Quoting zoopy
Referring to this post. Lastnight I put in an order to buy at 1.4650 and that was triggered overnight. I'm a little surprised by the big move down since lastnight before I went to bed, price was almost at 1.4700. The trade has been triggered so it'll be interesting to see what happens from here. I'll be out for most of the day so hopefully I don't come back to a fallen soldier (he better have eaten his Wheaties this morning lol).

update
4:47pm NY: +10 stops moved to 1.4610
3:00am NY: +85 stops moved to 1.4690
6:52am NY: +100 stops moved to 1.4710 (we're now covered. +60 pips locked)
update continued
9:45pm NY: +78 pips stops still remain at 1.4710 (came within 3 pips of knocking me out... someone ate their Wheaties this morning lol)
5:00am NY: trade was knocked out earlier this morning at +60 pips
  • #86
  • Edited 4:32am Feb 20, 2008 2:12am | Edited 4:32am
Quoting zoopy
Ok... looks like my one trade is going to get knocked out with +60 pips. I've re-evaluated the current conditions to see where is the next area I may buy at. I'm currently looking at a line chart which shows support at 1.4675. The closest round numbers to this is 1.4700 and 1.4650 which is where I originally bought at. I've placed orders to buy at 1.4650. The lower the better!
Wokeup at 5:00am NY time just to see what the markets were doing before heading back to bed again. Price looks solid at 1.4700 and on the 1 hour bar chart we have what looks very close to a buob (I prefer the close to be a little higher than what is showing - but this gives me valuable information nonetheless).

I am a buyer at 1.4724

update
7:28am NY: fallen soldier down at 1.4674 (that should teach me not to follow my plan lol) -out of market for now
  • #87
  • Edited 5:02am Feb 20, 2008 4:47am | Edited 5:02am
Quoting zoopy
Wokeup at 5:00am NY time just to see what the markets were doing before heading back to bed again. Price looks solid at 1.4700 and on the 1 hour bar chart we have what looks very close to a buob (I prefer the close to be a little higher than what is showing - but this gives me valuable information nonetheless).

I am a buyer at 1.4724

update
7:28am NY: fallen soldier down at 1.4674 (that should teach me not to follow my plan lol) -out of market for now
Following up on the last trade with a 1 hour chart. It's possible we may get a pinbar forming. If we do, I will activate the AH strategy on the break of the pinbar.

edit: No pinbar - no trade
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_1hour_ah.gif Size: 12 KB
  • #88
  • Feb 20, 2008 5:19am Feb 20, 2008 5:19am
Quoting raczekfx
sure you will

so what's your final TP before going short for 1.40...., 1.4760?
What do you think of this post now..., magic...?
No, it's PF stuff and common sense at work. There is a reason I and many others disliked jackos ah....

later Adrian..

p.s. hope your aud/usd sh are doing great
  • #89
  • Feb 20, 2008 5:31am Feb 20, 2008 5:31am
Hi Zoppy

I think 4600 looks good for a long (50% fib from Swing Low 4438 to 4756 = 4597). If 4600 level fails to hold, then I'd be buying again at 4500. But I could be wrrrrrrong !

Bakuli
  • #90
  • Feb 20, 2008 5:48am Feb 20, 2008 5:48am
Quoting raczekfx
What do you think of this post now..., magic...?
No, it's PF stuff and common sense at work. There is a reason I and many others disliked jackos ah....

later Adrian..

p.s. hope your aud/usd sh are doing great
Mark

Nice trade.

As for your comment on the AH. Keep in mind eurusd is ranging right now and if it does drop there's still the weekly trendline and 50.0% fib retracement. I should also point out the AH works only if you're trading WITH the trend. It's not as bad as it seems and more powerful than you think
  • #91
  • Feb 20, 2008 5:59am Feb 20, 2008 5:59am
Quoting Bakuli
Hi Zoppy

I think 4600 looks good for a long (50% fib from Swing Low 4438 to 4756 = 4597). If 4600 level fails to hold, then I'd be buying again at 4500. But I could be wrrrrrrong !

Bakuli
Bakuli

I'd rather see if I can buy at 1.4550 because that's near the trendline and 50.0% fib retracement. Be careful of being too over eager on going long right now because on the weekly we have an extreme move high which means we could be retracing back to the weekly trendline or 50.0% fib retracement (look at post#15)
  • #92
  • Feb 20, 2008 6:15am Feb 20, 2008 6:15am
Quoting zoopy
Mark

.... bad as it seems and more powerful than you think
.... I'll leave it at that... let's break that TL..
  • #93
  • Feb 20, 2008 6:52am Feb 20, 2008 6:52am
Quoting raczekfx
.... I'll leave it at that... let's break that TL..
You know Mark, we'd make a good partnership in a Hedge Fund. We always seem to be doing the opposite of each other
  • #94
  • Feb 20, 2008 7:06am Feb 20, 2008 7:06am
Quoting zoopy
You know Mark, we'd make a good partnership in a Hedge Fund. We always seem to be doing the opposite of each other
someone have said that before, about my yen trading .....
as long as we both make money...
  • #95
  • Feb 20, 2008 7:15am Feb 20, 2008 7:15am
Quoting raczekfx
someone have said that before, about my yen trading .....
as long as we both make money...
Yup. Like that saying goes, "Different strokes for different folks!" Bottom line is that we both make money in the end
  • #96
  • Edited 8:44pm Feb 20, 2008 9:10am | Edited 8:44pm
Quoting zoopy
Wokeup at 5:00am NY time just to see what the markets were doing before heading back to bed again. Price looks solid at 1.4700 and on the 1 hour bar chart we have what looks very close to a buob (I prefer the close to be a little higher than what is showing - but this gives me valuable information nonetheless).

I am a buyer at 1.4724

update
7:28am NY: fallen soldier down at 1.4674 (that should teach me not to follow my plan lol) -out of market for now
12:09am NY: AH triggered: 1.4674
2:20pm NY: +30 SL moved to 1.4660
5:15pm NY: +38 SL moved to 1.4674 (I am now covered and we have a free trade)
11:43pm NY: +50 SL moved to 1.4683
  • #97
  • Feb 20, 2008 9:15am Feb 20, 2008 9:15am
Quoting zoopy
I have included a new chart for cable. The reason for this is because there are 2 valleys touching the area of 1.9415 (1.9400... round number). What's going to be interesting here is if price bounces off that 1.9400 level or go down further.
This is a follow up on post#63. I've attached a chart of where price is currently (1.9411). Lets see if it skyrockets from here or plunges to the bottom of the earth lol. Keep in mind I am NOT trading this pair just monitoring it. I'm using other pairs to practice and better understand how to trade support/resistance/PPZ's etc.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_daily_feb20.gif Size: 9 KB
  • #98
  • Feb 20, 2008 9:19am Feb 20, 2008 9:19am
Zoopy,

1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price...also "round" numbers ... I also use the 50% Fib ratio..)
 3. bank your profits

I am quoting Jacko above. Are you following rule 2? I made about 80 pips on the Eur/Usd a few days ago and then my trailing stop was triggered. Does Jackos rules then mean we have to wait for another dip in price before taking on another trade?
Yamin On Demo until I am sure!!!!
  • #99
  • Feb 20, 2008 9:49am Feb 20, 2008 9:49am
Quoting yamin151
Zoopy,

1. buy/ sell ONLY in the direction of the major trend and
2. buy/sell on dips.(Use support lines to guide you as to price...also "round" numbers ... I also use the 50% Fib ratio..)
 3. bank your profits

I am quoting Jacko above. Are you following rule 2? I made about 80 pips on the Eur/Usd a few days ago and then my trailing stop was triggered. Does Jackos rules then mean we have to wait for another dip in price before taking on another trade?


Hi Yamin

Those are the rules that Jacko uses and yes, according to that, that's how I entered (also see post#83). The rules that I have outlined in post#2, is the same but organized in a way that works for me.

ENTERING INTO TRADES
When entering into trades, you must combine atleast 1 trading tool with a round number.

My trading tool was support at 1.4675 and the round numbers were... 1.4700/1.4650. This morning I saw price take off at 1.4700 and that's why I entered where I did. Obviously I was wrong in placing that trade and should have left my initial order at 1.4650.

I'm a little confused by your question on the trailing stop. Do you mean that you were knocked out because of your trailing stop being hit? If yes... then what I start doing is drawing support lines, the 50.0% fib retracement, trendlines etc to see where the nearest area of support may be for me to enter the market safely again.

Hope this helps.


zoopy
  • #100
  • Feb 20, 2008 10:36am Feb 20, 2008 10:36am
just a question here, zoop.
woudn't it be better to wait for the 50% retracement from the previous high of 1.4757 which is 1.4589-1.4600? This area is also a minor PPZ... It is a hindsight 20-20 of course...
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