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The Holy Grail - Found

  • #701
  • Mar 16, 2008 8:18pm Mar 16, 2008 8:18pm
Well she broke down to 152.51.Didn't take long
  • #702
  • Mar 16, 2008 9:28pm Mar 16, 2008 9:28pm
Also aud/jpy had a trendlinebreak at 92.20 which i missed out on. This is on the weekly also.
  • #703
  • Mar 16, 2008 9:43pm Mar 16, 2008 9:43pm
Here is one on the 4 hour chart.I maybe a little late but we have a trendline break break at 2.0178 area and that is a stronglline that has been broken in the past.,also she just broke 2.0200 area so i'm locking in profit .It's been good today for sure.
  • #704
  • Mar 16, 2008 9:54pm Mar 16, 2008 9:54pm
Ok i'm up 61 pips on gbp and locking in as i go.See how for she will go.
  • #705
  • Mar 16, 2008 10:07pm Mar 16, 2008 10:07pm
Ok we have a trendline break on the 4 hour chart at 0.9963 but we have a strong resistance at 0.9980 and a break out to the upside possibly but we have to be careful If she breaks the 0.9980 area we just might see some pips here.This being a commodity pair this coulsdhappen with the oil prices.
Tex.
  • #706
  • Mar 17, 2008 1:30am Mar 17, 2008 1:30am
I see gbp/jpy broke the 200.00 level and 2 week low and 2 year low.Quiet a bit of voltality tonight for sure.Missed this one . Tex
  • #707
  • Mar 17, 2008 4:16pm Mar 17, 2008 4:16pm
You have single handedly ruined this thread. This thread was not intended for predictions on the gbp/jpy, there are plenty of those for your posts...
  • #708
  • Mar 17, 2008 5:42pm Mar 17, 2008 5:42pm
FX norm may i ask who you trade metals with and if they are a reliable broker
  • #709
  • Mar 17, 2008 10:51pm Mar 17, 2008 10:51pm
Hi Har,

Here's a matchup I did between North Finance and FxPro

http://www.forexfactory.com/showthre...07#post1893107

FxPro seems to have better customer service and credit card funding.

Neither have accounts smaller than a mini.

Mig also trades metals but no stock indices. The Dow is going to fall off
of a cliff soon, so trading the Dow mini may be very profitable.
  • #710
  • Mar 18, 2008 5:24am Mar 18, 2008 5:24am
If Metals = Gold&Silver(precious Metals) then Oanda has both.

Silver is tradeable in tiny amounts(cents per $), Gold is smallest of 1 Unit which is around 1:1 of the Gold price for me(1$ moved Gold moves 0.68 EUR at 1 Unit - so around 1$ per 1$).

Since those are all priced in USD, over half of the price movement simply comes from USD weakness, which would be just as well tradeable in USD pairs, too(EURUSD e.g. as the biggest slice of the USDX).
Trust price. Know yourself.
  • #711
  • Mar 19, 2008 4:09am Mar 19, 2008 4:09am
Several months ago, I saw this thread. and begin to learn and try this method to do demo trades. But I usually got lost.
Therefore, I am looking forward to be one of the students of JohnW.

---------
sorry for my English
Try to understand English Try to understand Forex
  • #712
  • Mar 19, 2008 6:48pm Mar 19, 2008 6:48pm
Activer i bet you'll do well. Tex
  • #713
  • Mar 20, 2008 7:03pm Mar 20, 2008 7:03pm
Thanks fx norm, i have a live account with mig...just wondering who anyone was trading metals with, i have been following gold around for the last 50 years. I think its time i should get involved.

HH
  • #714
  • Edited 5:59pm Mar 21, 2008 8:44am | Edited 5:59pm
Time is 9:30 am NY on friday 3/21/08


I see a real nice setup on EUR/USD setting up at 1.5470 on the 30 min chart. If you decide to take this trade, I recommend that you hold the trade
back to the previous highs (450 pips up). I would use a 30 pip stop here, or you can just close out the trade if the breakout proves false. Personally. I think the price will retest the all-time highs.

I will also be watching for a breakout to the downside of the 1.5400 round number with a drop to the 50% fib level (225 pips) lower.

To Me, this is the perfect trade that JohnW would look for, and I also think this would be a high percentage winning trade, meaning that if you only took trades that have this type of setup you would approach a high % win factor, especially if the breakout occurs durng the London session.

The direction of the breakout may hinge on what the Fed does. In either direction this should be a fun trade. Enjoy and GL
  • #715
  • Mar 21, 2008 8:31pm Mar 21, 2008 8:31pm
Quoting FXNorm
Time is 9:30 am NY on friday 3/21/08


I see a real nice setup on EUR/USD setting up at 1.5470 on the 30 min chart. If you decide to take this trade, I recommend that you hold the trade
back to the previous highs (450 pips up). I would use a 30 pip stop here, or you can just close out the trade if the breakout proves false. Personally. I think the price will retest the all-time highs.

I will also be watching for a breakout to the downside of the 1.5400 round number with a drop to the 50% fib level (225 pips) lower.

To Me, this is the perfect trade that JohnW would look for, and I also think this would be a high percentage winning trade, meaning that if you only took trades that have this type of setup you would approach a high % win factor, especially if the breakout occurs durng the London session.

The direction of the breakout may hinge on what the Fed does. In either direction this should be a fun trade. Enjoy and GL

I set up a sell at 1.5394.

A buy would go against JohnW's strategy as there is a daily trend down, not up.
  • #716
  • Mar 21, 2008 9:09pm Mar 21, 2008 9:09pm
Quoting fugly
Valter

I cant seem to get it to work, am i supposed to simply drag and drop ? Anyone know how to get this to work?
Check this one out...
http://www.2008.worldmarkethours.com/Forex/index.htm
and let me know if you like it.
  • #717
  • Mar 21, 2008 10:17pm Mar 21, 2008 10:17pm
[quote=JeffSmith;1916697]I set up a sell at 1.5394.
Quote

A buy would go against JohnW's strategy as there is a daily trend down, not up.

Sorry, but you're wrong about the trend, the 50 sma is over the 100 sma
and they are both pointing up,as John's method indicates they should for a daily uptrend, its rather simple to see when using moving averages. If the tips
of the 50 and 100 sma's were pointing down then the "bias" would be down, but they aren't, so they do indicate an uptrend and an up bias.
A breakout will work in either direction, depending on which way the price is manipulated. IMHO
  • #718
  • Mar 21, 2008 11:54pm Mar 21, 2008 11:54pm
Thanks for the posts here JohnW.
  • #719
  • Edited 11:11am Mar 22, 2008 7:36am | Edited 11:11am
FXNorm

Quoting JohnW
Not necessarily. Many people will use bias as a trend indicator, but nothing beats looking at a chart from a distance of about 5 feet. If you can't see a trend there, pick another pair.
I think John is looking at the daily trend, and he's not just using the 100 sma.

Quoting JohnW
FXNorm -

The things I look at are:

The daily trend (draw trendlines)
30M trend (draw trendlines)
Am I trading against the carry or with it
Where is the next S/R level if I am filled
Will I break a minor (30M) trend and an S/R level when filled
Will I break a major (Daily) trend and an S/R level when filled

There is no such thing as a totally mechanical trading system. All of the ones I bought over the years that claimed to be non-discretionary (like MA crossovers, candle patterns, MACD signals, etc, etc) had some discretionary elements to them (like which time frame). I look at setups and select the best pair to trade. Best pair means best trend, most hits on S/R level, no pending big news events, etc. How many traders had buy stops in place above the USD/JPY level that broke last Friday (see the 30M chart). Trading successfully requires thought. Ignore the vendors telling you that this is easy, that you can "learn to trade like a pro in and hour", that if you just plug in these "secret" indicators that "banks don't want you to know" you will make 1000's of pips per month.
Again he mentions daily trend and suggests trendlines.

Do you just look at the 50 and 100 sma and that's it on daily? I havent' been doing that, but if that is the system please let me know. I have been fuzzy on that aspect and how important it is, although JohnW states it's critical I haven't quite grasped it. It seems odd to go against several days of a downturn just because the 50 and 100 are up.

Thanks
  • #720
  • Mar 22, 2008 1:51pm Mar 22, 2008 1:51pm
Warning!

This may be your last chance to buy silver at a great price, whether it be on ebay or thru one of the brokers that have been mentioned. For Newbie's I recommend going with the company that seeking light mentioned,
Oanda. They allow you to trade in lots smaller than a mini (500 ounces), that is a BIG advantage to someone new to the markets, because most Newbie's lose their butts. Sorry to say, you Newbie's don't have a clue to what you're doing, so, stick with a micro account at Oanda untill you learn.
The US economy is in incredibly bad shape. Delta Airlines just announced its trying to dump 30,000 employee's because of high fuel prices, and thats only ONE COMPANY out of thousands, so you can imagine what the trickle down effect will have when many more companies try to stay afloat.
The Federal Reserve is going to keep throwing everything it has into the marketplace to keep the dollar from breakng below 70 and the Dow from breaking below 11,600, so get used to some wild rides until the Fed runs out of Idea's, and they will. Once the dollar breaks 70 and the Dow breaks 11,600 (new low) the market will start to crash BIGTIME, then a break of 10,000 (psychological round number) will cause panic, and people will bail out of dollars in a big way, maybe into the euro and the pound, but certainly into gold and silver.
So, keep an eye on 70 on the dollar and 11,600 on the Dow. As prices approach those numbers the Fed will spring into action just as they have been, they're desparate, They know what it means if those key numbers are broken...sorry to say, they will be. Playing the currency markets will be wild and wooly, the swings are going to be incredible. GL

This all of course, In My Humble Opinion - Norm
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