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

  • #141
  • May 20, 2008 4:31am May 20, 2008 4:31am
RT, it's ok buddy,

Takes time tolearn a new system, even a simple one. It will catch you up. Sometimes it will only retrace back to the 11 EMA while the 89 catches up. I took a risk and added to my trade at the 11. May be a bad move with all the news coming out. But I may pull profit again before 8:30 after I move up my stops.

Jim

Quoting Runway Trade
Only been 4 days on E/J and not trusting it like I should (after 2 weeks of silly GBP) Kicking myself for cutting short my long at 161.95, 110 pips later we turn at 163.05! O well always another trade around the corner.

Still learning to trust these signals. When short 162.90 on my demo account to see what happens and where are we now 162.65. MUST learn to trust this pair. I love this pair
  • #142
  • May 20, 2008 4:34am May 20, 2008 4:34am
I idnt take it like that, I was just trying to show you in such a way, that you will get used to it. That I was on my own and learned a good feel.

Jim

Quoting strada
Wasn't referring to any particular pair or trade, it was a general question about how other factors will influence your entry decision. Wasn't asking anyone to give me trades, have no problems sorting out my own, was only interested to know more about your strategy. I'll invariably be in much the same trades as you, sometimes I get in earlier, sometimes later. Just looking for ways to improve my own ways. thanks anyway.
  • #143
  • May 20, 2008 4:42am May 20, 2008 4:42am
Strada, Here is an examle of a little thing that tells a lot. Look at E/J and the mini Pin right off the 11 EMA. Its a tell.


Quoting strada
Wasn't referring to any particular pair or trade, it was a general question about how other factors will influence your entry decision. Wasn't asking anyone to give me trades, have no problems sorting out my own, was only interested to know more about your strategy. I'll invariably be in much the same trades as you, sometimes I get in earlier, sometimes later. Just looking for ways to improve my own ways. thanks anyway.
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  • #144
  • May 20, 2008 4:47am May 20, 2008 4:47am
We can go all the way out to the DTL, ( Daily Trend Line ) which is about 164.33. Now, I can picture this thing trending along that 89 Smoothy until it gets there. But not before it comes back to test the backside of the 1 hr DTL. It could but maybe not. Hope this helps.
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  • #145
  • May 20, 2008 4:50am May 20, 2008 4:50am
But all the while I keep that stop in back of the 89. I can not stress this enough. If you get stopped out, no biggy you did all you could. I lost $27,000.00 in this market because the phsycological resistance to keeping my stop back. I learned an expensive lesson.
  • #146
  • May 20, 2008 4:54am May 20, 2008 4:54am
Watch for tweeser tops forming here
  • #147
  • May 20, 2008 4:57am May 20, 2008 4:57am
We got Tweezers. If we get a double top lower high here, we could get the retracement back to 162.50 area give or take a few. News at 8:30 though.

Jim
  • #148
  • May 20, 2008 5:13am May 20, 2008 5:13am
Quoting hard1head1
We got Tweezers. If we get a double top lower high here, we could get the retracement back to 162.50 area give or take a few. News at 8:30 though.

Jim
the daily pin bar which i predicted yesterday has finally worked....:-))....got out with 82 pips....expect more upside...
  • #149
  • May 20, 2008 5:36am May 20, 2008 5:36am
I knew you weren't blowing smoke, I guess we were both right. I got short pips and this morning, I got long pips. I had a feeling the long might be awhile because short term was down for a bit. We can work this together and make a bundle. I made a SH-T load overnight. My buy limit was triggered on E/U also. Thanks for your input.

Jim

Quoting ns_karthik77
the daily pin bar which i predicted yesterday has finally worked....:-))....got out with 82 pips....expect more upside...
  • #150
  • May 20, 2008 5:41am May 20, 2008 5:41am
We are testing the backside of the 4 Hr DTL. Could get a nice bounce here.

Jim
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  • #151
  • May 20, 2008 6:07am May 20, 2008 6:07am
Quoting hard1head1
We are testing the backside of the 4 Hr DTL. Could get a nice bounce here.

Jim
Cud it be going to test the inner trendline?
  • #152
  • May 20, 2008 6:50am May 20, 2008 6:50am
Look where it went, right smack dab on the 89 Smoothy and formed a nice pair of Tweezer Bottoms on the 15 Min T/F. Another reason why you keep the stop behind the 89. Gonna hit the rack, see you all later. Trades still going and I added 2 minis at this bounce.

Jim
  • #153
  • May 20, 2008 11:38am May 20, 2008 11:38am
the topic says GBP/USD or eur/jpy whatsever moving?? you all scrath youre heads about the eur/jpy 2day and its obvious in a sideways movement.the gbp went up with 260 pips 2day and you all try to figger out what the eur/jpy gonna do 2day.. the entry was very clear on gbp/usd for long.
anyway the eur/jpy will go very strong south by wednesday/thursday to take out the 159 level and by month end it will be at the 156 level. just the matter of time before we broke the 156 level and then we all can do the happy pip dance from there to 140 level..
good luck.
  • #154
  • May 20, 2008 12:20pm May 20, 2008 12:20pm
Quoting hard1head1
Look where it went, right smack dab on the 89 Smoothy and formed a nice pair of Tweezer Bottoms on the 15 Min T/F. Another reason why you keep the stop behind the 89. Gonna hit the rack, see you all later. Trades still going and I added 2 minis at this bounce.

Jim
Well capped 50 pips from that movement

130pips for the day cud have been 200pips but I am satisfied, I'm making money...
  • #155
  • May 20, 2008 1:24pm May 20, 2008 1:24pm
Quoting Doose
Well capped 50 pips from that movement

130pips for the day cud have been 200pips but I am satisfied, I'm making money...
dude great daily work

"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #156
  • May 20, 2008 1:38pm May 20, 2008 1:38pm
hey fellow traders

does any1 have experience with gbp/cad
because i was looking and it made today 311 pips

quite remarkable
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #157
  • May 20, 2008 3:13pm May 20, 2008 3:13pm
salah,,im glad you mention the gbp/cad .. hmm yes we look for the retrace to 1.9411 +- for the entry to go long for another 350/390 pips..
  • #158
  • May 20, 2008 3:33pm May 20, 2008 3:33pm
Quoting crazy horse
salah,,im glad you mention the gbp/cad .. hmm yes we look for the retrace to 1.9411 +- for the entry to go long for another 350/390 pips..
thnx for the info
i was thinking of shorting earlier but that would be too hasty as it is the first time i try analyzing it

i wanted to ask u
does it usually react to UK news or not much?
"what doesn't bankrupt me, makes me stronger" modern nietzche
  • #159
  • May 20, 2008 3:53pm May 20, 2008 3:53pm
salah ,, ive got now idea about news,im not a fundamental trader ,technical is must stronger than fundamental news. the trades im look for the moment is the eur/jpy short {already short} for 156 . and the gbp/cad to go long @1.9411 if it reach it. the gbp/usd to go long @ 1.9600/11 till 1.9800 then but doubt it will reach 1.96 before 1.98 ... other wise wait till it reach 1.98 then i will enter on retrace @ 1.9634 till 2.06 {very long term] but gbp/usd turn bullish for the rest of the year..
good luck
  • #160
  • May 20, 2008 3:57pm May 20, 2008 3:57pm
the best trade for the next 2 weeks will be the eur/jpy to go short till 156 and then wait pateince for the break of 155 , for 140.im waiting for that move from last year and we are very close to that aggressive drop to 140 .possible 125 ...
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