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GBP/USD or EUR/JPY or.... Whatever's moving!!

  • #21
  • May 18, 2008 8:09am May 18, 2008 8:09am
Nice work Jim I'll be here most off the time. E/J my new hero
  • #22
  • May 18, 2008 8:18am May 18, 2008 8:18am
Quoting hard1head1
But I never THINK its may do this or that. Thinking a direction is a recipe for disaster.
Agree 110%!

As in the stock market (where I'm used to trade until last year) the profit is highly related to WHEN YOU BUY... At Forex, that means WHEN YOU ENTRY. Predicting is the key... to be burned!

Nice thread
Many share my views with me. But I don't share them with them...
  • #23
  • May 18, 2008 9:34am May 18, 2008 9:34am
Quoting hard1head1
With this system, we arent going to worry about gold prices or anything like that. We dont really have to. The only thing we dont want to do is get into anything just before a news release. Now we may get into some news momentum after the news, if you know what I mean.

Jim

ur right but i just told him about gold because i mean i wouldnt short aussie if i just realized gold was hiking heavily.(not that this case has ever happened or it may never but im just writing a list of rules to enter in the market.
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #24
  • May 18, 2008 12:34pm May 18, 2008 12:34pm
hey hard1head1

i have noticed gbp/cad is worth talking about
personally i have never even noticed it but as im looking at the charts
a long doesnt look bad(looking at daily)

wat do u think?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #25
  • May 18, 2008 1:27pm May 18, 2008 1:27pm
Evening star on the 1H. Ithink it will retest the bottom of the 89 on 1H before going up again. Looking at the 15M there was aslo evenig doij before close. I think we will be going down to 161.60 before going up again. Ill wait for the turn at the bottom looking to buy. Comments?
Attached Image (click to enlarge)
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  • #26
  • May 18, 2008 2:56pm May 18, 2008 2:56pm
Pair is trying to move thru the 89 on the 5 Min T/F. Low volume, trade at your own risk.
  • #27
  • May 18, 2008 2:58pm May 18, 2008 2:58pm
I am looking for the pair to eventually reach 161.58
  • #28
  • May 18, 2008 3:11pm May 18, 2008 3:11pm
The best opportunity here is if the pair crosses the DPP, and then retests the back, it will be a safe short to 161.58. Be sure to take half or more off after 10-15 pips.
  • #29
  • May 18, 2008 3:13pm May 18, 2008 3:13pm
Do you realize your on the 15 Min. Best opportunity here is off the 5 Min T/F.

Jim

Quoting Runway Trade
Evening star on the 1H. Ithink it will retest the bottom of the 89 on 1H before going up again. Looking at the 15M there was aslo evenig doij before close. I think we will be going down to 161.60 before going up again. Ill wait for the turn at the bottom looking to buy. Comments?
  • #30
  • May 18, 2008 3:22pm May 18, 2008 3:22pm
An entry before the cross is a risky one, but you can feel more comfy after you draw the triagle out on the daily. We are going to get some pips tonight.

Jim
  • #31
  • May 18, 2008 3:29pm May 18, 2008 3:29pm
Want some more confirmation? PATIENCE, PATIENCE



Jim
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  • #32
  • May 18, 2008 3:34pm May 18, 2008 3:34pm
Quoting hard1head1
I am looking for the pair to eventually reach 161.58
If we get pass 162.03 then I agree with that target.

Your right patience.
  • #33
  • May 18, 2008 4:01pm May 18, 2008 4:01pm
Don't panick if this thing decides to come up and close the gap. It's just the nature of the beast. If you took the riskier entry, then your stop should be above 162.47 and you will be fine. Unless it decide to break the last high, in which case, thats life. But I am not looking for that.
  • #34
  • May 18, 2008 4:13pm May 18, 2008 4:13pm
We really need to go farther than that. We need to cross the DPP and the test and then continue on down.

Jim

Quoting Doose
If we get pass 162.03 then I agree with that target.

Your right patience.
  • #35
  • May 18, 2008 4:39pm May 18, 2008 4:39pm
Lower high is forming on the 5 Min. This is a good thing for us. Remember PATIENCE and FORTITUDE is what it takes to trade the forex market. Patience to wait for the market to come to us and Fortitude to be able to put those stops behind all the people that have none.
  • #36
  • May 18, 2008 5:21pm May 18, 2008 5:21pm
And this is why we dont get in in front of the 89
  • #37
  • May 18, 2008 5:56pm May 18, 2008 5:56pm
what´s DPP?
  • #38
  • May 18, 2008 6:19pm May 18, 2008 6:19pm
Daily Pivot Point. If you dont know the basics, please read WWW.Babypips.com

Jim

Quoting bai
what´s DPP?
  • #39
  • May 18, 2008 6:34pm May 18, 2008 6:34pm
Nice ride ahead.
  • #40
  • May 18, 2008 6:39pm May 18, 2008 6:39pm
Remember, this trade must be treated like a retracement. It could reverse at any time. However, we got a clean cross and broke thru the 89 clean, so, as long as we stay on the left of the 89 we will be fine. All stops should be 10 pips plus the spread beyond the top yellow line, which would be around 162.28. I usually wait till after tests the 89 and moves on before I move mine down and believe me it will.

Jim
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