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  • #2,441
  • Feb 21, 2008 3:39pm Feb 21, 2008 3:39pm
Next 3 charts
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  • #2,442
  • Feb 21, 2008 3:40pm Feb 21, 2008 3:40pm
For some reason the charts arnt posting, may have to repost them later.

Nevermind must be my laptop, I see them with the desktop now, anyone else having problems viewing the charts ?
  • #2,443
  • Feb 21, 2008 3:48pm Feb 21, 2008 3:48pm
Quoting Bobokus
This is one way of looking for a way to follow with a stoploss when the currency goes into a strong move like this. The object is as each candle opens pull your stop 5-10 pips below the previous candles low, this type of stop following is only good though when the currency goes into a strong move like it did today.
There 3 more charts next to help illustrate this.
Thanks for the charts. It makes perfect sense. Like I said in in one of my earlier posts, the hardest thing to master in trading is fear and greed. I was +30 pips or so before the news came out and I wanted to lock the majority in, so I tightened up the sl right before the news, just in case it sent cable plummeting. I guess I could learn a few things from that fearless gal from texas huh?
  • #2,444
  • Feb 21, 2008 3:48pm Feb 21, 2008 3:48pm
Quoting Bobokus
For some reason the charts arnt posting, may have to repost them later.

Nevermind must be my laptop, I see them with the desktop now, anyone else having problems viewing the charts ?
Hey Bo, I cant pull them up.
  • #2,445
  • Feb 21, 2008 4:32pm Feb 21, 2008 4:32pm
Quoting forexpipmaster
Hey Bo, I cant pull them up.
I think its a problem with FF, its happened before, they will get it fixed.
  • #2,446
  • Feb 22, 2008 2:50am Feb 22, 2008 2:50am
Bo,
Any idea, where should I place my stop on EU?
I am long from 1.38, whats the med/long term view....I
was hoping 1.50 and beyond but doesn't look like.

Thanks.
Mukesh
  • #2,447
  • Feb 22, 2008 7:00am Feb 22, 2008 7:00am
Quoting Mukesh
Bo,
Any idea, where should I place my stop on EU?
I am long from 1.38, whats the med/long term view....I
was hoping 1.50 and beyond but doesn't look like.

Thanks.
Mukesh

Long term, if your Long from 1.38 you have no worries. Weekly chart still looks strong, the only worries you have if the EU even start hinting of dropping interest rates, I would have my stop around 1.43 as things are right now.
Medium term from the Daily the Euro has been in a wide range now since its overall high back in November, each push down has ending with higher lows and its has a flag pattern or rising wedge look to it. The near future I see no reason why this would not continue and would look fo this wedge to be broken to the topside. A failure to break from it and I would exit on a lower low. If the pattern holds and another higher low is created even from a failure of a topside break I would continue to hold it.
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  • #2,448
  • Feb 22, 2008 8:25am Feb 22, 2008 8:25am
Quoting Bobokus
Long term, if your Long from 1.38 you have no worries. Weekly chart still looks strong, the only worries you have if the EU even start hinting of dropping interest rates, I would have my stop around 1.43 as things are right now.
Medium term from the Daily the Euro has been in a wide range now since its overall high back in November, each push down has ending with higher lows and its has a flag pattern or rising wedge look to it. The near future I see no reason why this would not continue and would look fo this wedge to be broken to the topside. A failure to break from it and I would exit on a lower low. If the pattern holds and another higher low is created even from a failure of a topside break I would continue to hold it.
Thank you Bo, I appreciate that. I had my stop at 1.45, but will move
to 1.43 or re-enter for higher highs.

Do you trade USDCHF? I am short from 1.1254 and missed my
opportunity to exit around 1.0800 level and re-entering at 1.10/1.11
level. I could have done so, had I been to your thread earlier,
placing an exit is kinda difficult, I am targeting 1.0250, but seems
I can exit and re-enter using fibs.

I prefer trading a higher time frame and holding positions for a period
of time and booking healthy pips! Can you suggest me an exit and
re-enter for USDCHF and even GBPJPY.

Thanks.
Mukesh
  • #2,449
  • Feb 22, 2008 11:16am Feb 22, 2008 11:16am
Quoting Mukesh
Thank you Bo, I appreciate that. I had my stop at 1.45, but will move
to 1.43 or re-enter for higher highs.

Do you trade USDCHF? I am short from 1.1254 and missed my
opportunity to exit around 1.0800 level and re-entering at 1.10/1.11
level. I could have done so, had I been to your thread earlier,
placing an exit is kinda difficult, I am targeting 1.0250, but seems
I can exit and re-enter using fibs.

I prefer trading a higher time frame and holding positions for a period
of time and booking healthy pips! Can you suggest me an exit and
re-enter for USDCHF and even GBPJPY.

Thanks.
Mukesh
The Swissy I dont chart or keep up with so I cant say much for it other than trade it opposite to the Euro, but it looks as if you already know that.
I hant made a long term play on the Geppy in a long time that one lll have to work on and get back to ya later on
  • #2,450
  • Feb 22, 2008 12:14pm Feb 22, 2008 12:14pm
Quoting Bobokus
The Swissy I dont chart or keep up with so I cant say much for it other than trade it opposite to the Euro, but it looks as if you already know that.
I hant made a long term play on the Geppy in a long time that one lll have to work on and get back to ya later on
No problem Bo, take your time. I tried a few quickie on Geppy and
got stopped out, probably due to tight stops (50-65 pips)...and
thats live not demo.

I made 105 pips on EUR cross ....and lost on few others and thats
definately due to tight stops (20-50 pips), all live trades, overall
breakeven, hope to get better!

Thanks.
Mukesh
  • #2,451
  • Feb 22, 2008 8:59pm Feb 22, 2008 8:59pm
Here's my setup for G/J.
A decisive break below the last low of 204.69
should open target for 199.67 first, and above 212
should target 218/219....is that correct Bo?

Have a great weekend!

Thanks.
Mukesh
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  • #2,452
  • Feb 23, 2008 1:19am Feb 23, 2008 1:19am
Quoting Mukesh
Here's my setup for G/J.
A decisive break below the last low of 204.69
should open target for 199.67 first, and above 212
should target 218/219....is that correct Bo?

Have a great weekend!

Thanks.
Mukesh
We are very similar on the Weekly, On a break short though I dont wait for the break of the low your giving up half the trade, I would trade the break of the Short fib at 208.18. Medium term I would buy dips down to this point, stop and reverse on a break, targeting...201/199. Dependant heavily if USD/Yen continues to show weakness.A break long is already being signaled on the break of 210.41, targeting 217.50
Daily GBP/Yen is showing support from the last retracment it is in of this down move and Usd/Yen is testing its support levels now, for a long position on GBP/Yen I would wait for the USD/Yen Daily to show a bounce before taking a medium term postion on the GBP/Yen. It isnt going to hurt that Cable is attempting to test resistance levels again as well, If it can clear or get a Daily close above 1.9720 that will help bolster a medium term position on GBP/Yen also. for me personally too many stars have to align for me to look past trading GBP/Yen longer than Intraday at this point.
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  • #2,453
  • Feb 23, 2008 4:29am Feb 23, 2008 4:29am
Quoting Bobokus
We are very similar on the Weekly, On a break short though I dont wait for the break of the low your giving up half the trade, I would trade the break of the Short fib at 208.18. Medium term I would buy dips down to this point, stop and reverse on a break, targeting...201/199. Dependant heavily if USD/Yen continues to show weakness.A break long is already being signaled on the break of 210.41, targeting 217.50
Daily GBP/Yen is showing support from the last retracment it is in of this down move and Usd/Yen is testing its support levels now, for a long position on GBP/Yen I would wait for the USD/Yen Daily to show a bounce before taking a medium term postion on the GBP/Yen. It isnt going to hurt that Cable is attempting to test resistance levels again as well, If it can clear or get a Daily close above 1.9720 that will help bolster a medium term position on GBP/Yen also. for me personally too many stars have to align for me to look past trading GBP/Yen longer than Intraday at this point.

Yes, ofcourse I would trade off D1 or H4 so that I don't miss much
of the move. I have the fibs on my daily too, din't post earlier as I
wanted to know medium/long term view.
I am taking retracement from 205.86-213.85, hope it holds!

Thanks.
Mukesh
Attached Image
  • #2,454
  • Feb 23, 2008 7:48pm Feb 23, 2008 7:48pm
I posted a quick video on YouTube to help with price following with the GBP/Yen or any other pair if you like. From the exercise youll see the importance of the Inner fib levels and how using Fibs in a support and resistance type method can aid in your trading decisions.

Here's the link to the new video clip.
Inserted Video
  • #2,455
  • Feb 23, 2008 9:06pm Feb 23, 2008 9:06pm
Quoting Bobokus
I posted a quick video on YouTube to help with price following with the GBP/Yen or any other pair if you like. From the exercise youll see the importance of the Inner fib levels and how using Fibs in a support and resistance type method can aid in your trading decisions.

Here's the link to the new video clip.
http://www.youtube.com/watch?v=dsu_iiWO7bY

so nice...thanks a lot.

Mukesh
  • #2,456
  • Feb 23, 2008 9:50pm Feb 23, 2008 9:50pm
Quoting Bobokus
I posted a quick video on YouTube to help with price following with the GBP/Yen or any other pair if you like. From the exercise youll see the importance of the Inner fib levels and how using Fibs in a support and resistance type method can aid in your trading decisions.

Here's the link to the new video clip.
http://www.youtube.com/watch?v=dsu_iiWO7bY
Great! I am going to try the excersize on vHands. I feel like I am almost there understanding how to use fibs but I definately wouldn't call myself proficient yet. Out of everything else I think the videos help the most. I am also hoping with my live trading thread we can all teach each other as we analyze the market. I need everbody elses help too (even though I post the most on it)!

I love the accent btw. I'm leaving the south and moving to the west coast and I am going to miss that . Well, I think I may have picked it up a bit myself actually .
  • #2,457
  • Feb 23, 2008 10:36pm Feb 23, 2008 10:36pm
Quoting Jared
Great! I am going to try the excersize on vHands. I feel like I am almost there understanding how to use fibs but I definately wouldn't call myself proficient yet. Out of everything else I think the videos help the most. I am also hoping with my live trading thread we can all teach each other as we analyze the market. I need everbody elses help too (even though I post the most on it)!

I love the accent btw. I'm leaving the south and moving to the west coast and I am going to miss that . Well, I think I may have picked it up a bit myself actually .
Ill contibute to your thread as much as I can. I like the accent too, I think Im gonna keep it fer a while. I think the videos are a good Idea, I was working on my CD course today and decided to put up another one on Youtube today that I think will help some on following price action and the importance of the Inner levels. How to relate support and resistance to the fib tools kinda thing.
  • #2,458
  • Feb 24, 2008 8:05am Feb 24, 2008 8:05am
I am not the fastest study and like many here have said i find i have to read and re read many times to get things to stick and the understanding to hit me . Watching the video's after reading was just magic, i, like many others, learn much faster having something shown to me but by the same token without having read the posts the video's would have just been pretty coloured numbers and lines.
Thank you very much and look forward to you opening the hillybilly tutorial CD's =0)




BillyGlyde.
  • #2,459
  • Feb 24, 2008 8:24am Feb 24, 2008 8:24am
Quoting BillyGlyde
I am not the fastest study and like many here have said i find i have to read and re read many times to get things to stick and the understanding to hit me . Watching the video's after reading was just magic, i, like many others, learn much faster having something shown to me but by the same token without having read the posts the video's would have just been pretty coloured numbers and lines.
Thank you very much and look forward to you opening the hillybilly tutorial CD's =0)




BillyGlyde.
LOL, I appreciate the comments. If the videos help just 1 person understand fib's better then it was worth it.
  • #2,460
  • Feb 24, 2008 9:29am Feb 24, 2008 9:29am
Quoting Bobokus
LOL, I appreciate the comments. If the videos help just 1 person understand fib's better then it was worth it.
They are fantastic, please keep them up and please continue your great contributions to Jared's thread.

I honestly think I am approaching some great enlightenment. a few more hours on VHands should do it.

thanks again.
Mike
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