Yeah it has been screaming down or re-trace for quite awhile. If you scalp it, don't get greedy. Take your 10 or 20 and get out then re-evaluate. At some point it will retrace, but for now, I think it is headed to 1550. I wish I was long back from 1490 when they said 1500 could not be broken. Good Luck!!
- #362
- Mar 7, 2008 1:00am Mar 7, 2008 1:00am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
I know that is OFF the topic, but have a look @ 1h EURUSD
RSI is screaming
Been in on this one since Wednesday at 1.5223. Really nice run.
- #363
- Mar 7, 2008 2:10am Mar 7, 2008 2:10am
- Joined Sep 2006 | Status: Collector | 9,833 Posts
Have a look @ my post.... http://www.forexfactory.com/showpost...ostcount=66420
Nothing to HIDE
Piters
Nothing to HIDE
Piters
Well Malcolm you did it again . You called it in advance (as usual) with great accuracy on the GJ short I banked lots of pips 3 of your targets hit to the pip as of now It looks like the others will follow. Great simple system. Go in and out bank your pips compound and do it again and again.......
Thanks for sharing
Alexhttp://forexfactory.com/images/icons/icon10.gif
History is written by the victors.
- #368
- Mar 7, 2008 6:01am Mar 7, 2008 6:01am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #369
- Mar 7, 2008 6:03am Mar 7, 2008 6:03am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #370
- Mar 7, 2008 6:12am Mar 7, 2008 6:12am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
I did my long term analysis yesterday.
The blue line in the 5 min is bottom of the bear flag ( top left corner)
The red line is a downward trend line
I could see we would drop overnight.
Treble top rsi sell trigger (three red bars) was screaming sell. The third one played out for a 206.5 fill.
Also I was trading off a 15min which had a short trigger at the same time
The 15 min was the chart that the trade was filled on , and as I knew from the long term analysis (long term being 30min , 60 min charts in my world) that we would drop the 15 min chart was the one to keep you in the trade.
1ABD and I were on skype trading this trade together.
5 min
15 min
The blue line in the 5 min is bottom of the bear flag ( top left corner)
The red line is a downward trend line
I could see we would drop overnight.
Treble top rsi sell trigger (three red bars) was screaming sell. The third one played out for a 206.5 fill.
Also I was trading off a 15min which had a short trigger at the same time
The 15 min was the chart that the trade was filled on , and as I knew from the long term analysis (long term being 30min , 60 min charts in my world) that we would drop the 15 min chart was the one to keep you in the trade.
1ABD and I were on skype trading this trade together.
5 min
15 min
Blogging daily now at www.volume.zone
- #371
- Mar 7, 2008 8:29am Mar 7, 2008 8:29am
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
Awesome so many traders in here
Thanks for such a Great Thread! I hope to learn as much as I can... and make some money in the process
I like the fact that you are calling your trades as you take them as I think transparency with your strategy makes confirmation of your strategy that much more easier
With that said, I would like to join with you trade by trade as we dissect this wonderful market.
Finally I thought I read somewhere that you use skype while trading.. I would like to request an invitation if that is possible. Please contact me at vagyok[dot]c4[at]gmail[dot]com
Keep up the good work!
- #375
- Mar 7, 2008 4:38pm Mar 7, 2008 4:38pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #376
- Mar 7, 2008 5:52pm Mar 7, 2008 5:52pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Not that exciting a pair but pips are pips ... buy it and forget it
The daily broke out of that Resistance zone of .7950. I believe that this is a restes of that zone.
We have the 50 sma on the daily just under current price forming nice support right now.
The 3 hour shows a pennant forming. This could break either way.
I will be tracking this next week for a break out of top of pennant at .8000 or break down of the support line at .7900.
Either way should net an easy 100 - 200 pips.
I am following this chart and looking for trades as one of my sister's friends knows NOTHING about trading , but wants to get into it. She knows how to place the trade. So i will tell her what to trade and why. I will be follwoing this one every 6 hours tp see if we get and rsi trigger that signals a break of the pennant formation.
This is not a true pennant , but a pennant is a continuation pattern
200 pips does not sound a lot , but 8 trades with 200 pips profit on each trade , $1,000 with 50% reinvested becomes $128,000
Liekly you will not get 8 trades in a row .. but any thing in life is possible. My best run to date was 29.
The daily broke out of that Resistance zone of .7950. I believe that this is a restes of that zone.
We have the 50 sma on the daily just under current price forming nice support right now.
The 3 hour shows a pennant forming. This could break either way.
I will be tracking this next week for a break out of top of pennant at .8000 or break down of the support line at .7900.
Either way should net an easy 100 - 200 pips.
I am following this chart and looking for trades as one of my sister's friends knows NOTHING about trading , but wants to get into it. She knows how to place the trade. So i will tell her what to trade and why. I will be follwoing this one every 6 hours tp see if we get and rsi trigger that signals a break of the pennant formation.
This is not a true pennant , but a pennant is a continuation pattern
200 pips does not sound a lot , but 8 trades with 200 pips profit on each trade , $1,000 with 50% reinvested becomes $128,000
Liekly you will not get 8 trades in a row .. but any thing in life is possible. My best run to date was 29.
Blogging daily now at www.volume.zone
- #378
- Mar 7, 2008 6:07pm Mar 7, 2008 6:07pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Here we have the handle forming on a cup and handle formation on the AUDUSD. It can also be considered as a bull flag. The flagpole is 1000 pips.
If this breaks to the upside we could easily move 500 - 1000 pips up
If this breaks to the upside we could easily move 500 - 1000 pips up
Blogging daily now at www.volume.zone
- #379
- Mar 7, 2008 6:31pm Mar 7, 2008 6:31pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Blogging daily now at www.volume.zone
- #380
- Mar 7, 2008 6:35pm Mar 7, 2008 6:35pm
- Joined Apr 2007 | Status: HARD SHYT SCUBA TRADER | 20,886 Posts
Just a SIMPLE channel breakout. Set take profit at 40 pips , stop 20 pips.
In this case it was a breakout of the channel and 50 sma on the 5min
In this case it was a breakout of the channel and 50 sma on the 5min
Blogging daily now at www.volume.zone