Cowboyfx live calls for free, get rich or go broke trying

Sell Stop GBP/USD 2.0288 SL 2.0338 TP 2.0197 or exit when you feel there is enough

Trading Gap ? seems risky but ..... lets trade it anyway ..

Long GJ 195.12
Long GJ (buy limit 193.50 )
long GJ Buy Limit 192.50
long GJ Buy Limit 191.50

SL all @189.40 TP All at 200.00

The holiday was Good & The 450 pip + 650 pip was also Good

.. doubling account on holiday is really good .....

assalamualaikum syafi.
I really appriciate ur Call, is help noob like me.
I m follow ur last Call 4 GJ + 300 pips in my pocket (is Big enough 4 me)
tq.

Wa alaykum Salaam

Lots of money, lots of holiday. don't need to trade everyday .......
Enjoy life .... go fishing & playing with my latest son

Always nice to hear about a new baby! Keep up the good work!

Tom

Thanks

Short Eur/JPY 156.93 Sl 50pip TP 70 pip
Short GBP/JPY 199.47 SL 70 pip TP 130 pip

Lets ride........ err wait dont run so fast, its a sell stop. not yet activated

http://www.pcimagenetwork.com/horse/p12.jpg

Long GBP/JPY 199.93 TP 130 pip SL 70 pip Buy Stop

Closed @ 200.08......... duh.

Here is a pic of just one of my scalps I took SHORT before it took off North here 15 minutes ago, I only trade for 5-10 pips on everytrade.

This is just one part of my strategy, but you add the other charts to it and it gets easier to me.

Cheers Ken

Why not 10 pip SL & 70pip TP . it look really promising on the chart.

Looking at your Avatar it speaks of "peaks and valleys."

A very important factor in the peaks and valleys are supp/res areas.

Even though most of my trades are based upon the 5 min patterns, the peak and valley has grabbed my attention the past 6 months.

In an effort to maximize successful trades I have been watching the 1minute time frame to catch the signal of an upcoming peak break or valley break.

One obstacle in this effort is being a little less aggressive and more patient waiting for the actual peak/valley to appear correctly.

In this chart on the E/J 1 minute I have placed the Resistance line above (peak) and the Support line below which was a Res/Peak previously at 157.36 area.

I will usually watch for segments of moves to transpire then watch for consolidation to form in the segment. Then during the consolidation period there are certain formations that appear.

In this case we see the Res/Peak reached at 157.90 area, then the patterns appear (note: these patterns will work from 1min up to the larger time frames).

We see a High reached and the first thing I look for is a small retrace, then a stab at the high again, which in this chart you can see price drops 20 pips then takes a stab at the high several times, then in a 30 minute period price sits at the top just watching for a Res/Peak breakout or a true stall which would present itself in another drop into consolidation.

As seen with the Ema/Lwma and Rainbow, price begins its move downward after tiring from trying to continue upwards.

Price now starts to look the other direction knowing the Resistance/Peak has rejected the Bulls. Now the Bears are starting to get interested in what is happening, and the Bulls begin to wonder if they should hold out, or release some of their Longs.

Price begins to move downward toward the 157.36 area of previous resistance and finds a minor support at 157.47, I then begin to think maybe will see a Res/Peak breakout and sure enough price jumps upwards towards the top, but stalls short as it gets near, then we know our Highs are lower and now we wait for the next lower low which I expect to come at the last resistance area which was already a support tap and hour before - 157.36.

Hah, the Green (60 LWMA) breaks below the White (144 LWMA) and we see the Rainbow starting to show a downward drop is coming. I am now getting prepared to take a position, knowing the high and low have been revealed, and were seeing lower highs and hope to see lower lows on the support break.

Price comes right to the support line and stalls perfectly.

One thing to remember is to be "Patient" here, we may be seeing a 2nd support tap, which could be a fakeout, so I enter once the price drops below 157.36 with a 6-7 pip goal in mind in case of fakeout which happens lots of times.

We see a move down of 16 pips below support, then I watch for the move back to test supp/res which happens most of the time, but not all the time. When a supp/res is broken there is usually one final attempt to re-enter the consoliation channel, and you can see on this chart it made its way back up to test supp 157.36 within 11 minutes from its original break of this line.

Now we prepare again to SHORT, first entry is in and out with 6-7 pips pocketed. Price stabs the support which now becomes the resistance again, and we wait for price to break below the low that was obtained just previously 157.25.

When Price breaks the 157.25 plain, we jump SHORT again, but there are times I take a Short when price test the support line that was originally broken, so I would be in for my second entry just about where I entered the first time.

So when price breaks below the first line after a support break, I am in for several entries looking for the next segment of a 10 pip move each time (I target a goal of 6-7 during these breaks)

In this chart there were 6 points of entry, but I would be in and out 2-3 times in it all with 6-7 pips per entry. The overall exit was when the high closed higher then a previous high (the purple x on the chart).

I will check back with you later in the weekend.

Cheers,

Ken

click on chart to enlarge

I wanted to post this chart to give a big picture view of the overall status of E/J.

As mentioned in the last post, I said the patterns usually form the same in each time frame.

This Daily Chart shows the Double Top/Peak area at 158.72 which was reached and held for the second time before we seen a big drop down to the low Support/Valley at 151.80.

The Support was as strong below as the Resistance was above, which shows us in a nice consolidation pattern in motion.

We see the Highs are getting lower as the price remains below the 200 EMA and the lows are getting lower, but not lower then the low from Aug 16th 2007, which is the area of target on this move down.

You can see looking at the G/J it also went through this type of pattern, and eventually broke below the low that was obtained during this same time.

My overall trend thought is down, for a couple of days, the upwards more before the next big drop, but I do not trade long term.

Looking across the posted daily chart here you can see we had 4 days of Bullish strength, and it closed Friday on a Bearish note.

The last two daily candles show upward rejection with a view of a minor downward move coming forth. I placed a Resistance line at the Two Candles closing area 157.38 which is the same as my 1 minute supp/res line.

Also a Support area at 156.24 which is based on the open of the 3/26/2008 candle. The Channel Median is at 155.85 which may come into play on this move down which for now only appears to be a retrace of the move up.

I am expecting 156.20 area and a possibility of 155.70 to be reached in the coming days.

There is also that Daily Candle which shows some stall is in progress, so looking at these type of formations gives me an idea of the type of scalping trades I want to be in the next 24-48 hours or so.

Cheers,

Ken

tq. syafi ..Hope ur child as smart as his father

Monarch,

Thank you for your explanation of your trading thought. I surely got several point to make better my trades

God Bless

Seems Price has rise 700 pip plus since early this week trading for GBP / JPY
since price has rise every day from week start, for the last 2 days trading lets Short.....

TP 201.60
and 200.69



SL 205.30

wow, waiting for those hundreds of pip /trade is sure a slow process a day before NFP. using Monarch method aiming 7-10 pip is much much easier and totaled more pips.....

I agree, the long wait for the bigger moves with a 4hr/Daily type of chart requires much more patience then a typical 1/5 minute scalp does.

I have been tracking about 7 pairs on a daily/weekly chart to catch certain candle formations, but I do not trade this system just yet, maybe in a year I will progress to this style and leave trades in for 24 hours or more.

On the Usd/Cad I seen this formation on the Daily and recognized there was a strong resistance and when the candle closed left of my arrow, I marked the price of entry at 1.0230 and targeted 1.0115 which is the close of the big bull candle that pushed price above the recent high a few days before.

You can see my gray flag that showing the high on 2/20/2008 and the wicks that were rising up after the bottom failed on 2/28 and for 20 days price reveals higher highs on each move up.

Cheers Bro.

Ken

The easiest way for me making money on longer term trades were..
hunches

All technical indicator, do well on certain condition and bad on other time & condition.

my GBP/CHF trades copied from M long term trades on January fail miserably as well . ( I was young then )
But 1 thing for sure, the scalp trades make the mountains.