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  • #441
  • May 22, 2008 4:11am May 22, 2008 4:11am
Don't see any IB until now...

Holiday... Celebrate... ?

I see some really WILD moves... GBP moving almost 100 pips on Retail Sale and Business Investment... EUR going South....

Guess I'm going to bed a little more. Holiday in Brazil too

I'm coming back in the US Session... those american evil capitalists that don't respect a Holly Day... just kidding, people!

Cheers!

HT
Many share my views with me. But I don't share them with them...
  • #442
  • May 22, 2008 5:02am May 22, 2008 5:02am
Morning all,

nice IB on the 1 hr Beast - trade at your own discretion/risk.
I've got my pips - go get yours!
  • #443
  • May 22, 2008 5:11am May 22, 2008 5:11am
IBs on EUR/JPY...
Attached Image (click to enlarge)
Click to Enlarge Name: ibej.gif Size: 16 KB
  • #444
  • May 22, 2008 5:13am May 22, 2008 5:13am
Quoting Archiphage
IBs on EUR/JPY...
Yup I'm watching it
  • #445
  • May 22, 2008 5:21am May 22, 2008 5:21am
I am watching ej as well, looking for long
  • #446
  • May 22, 2008 5:22am May 22, 2008 5:22am
miss out g/j, good iB setup as well
  • #447
  • May 22, 2008 5:23am May 22, 2008 5:23am
miss out g/j, good iB setup as well.
  • #448
  • May 22, 2008 5:26am May 22, 2008 5:26am
Quoting robincys
miss out g/j, good iB setup as well
It was a IB but it's a area of resistance and you would need a pretty big stop because of the size of the IB. Plus I have a few things I look at also and there pretty overbought. So it might work out, but one I'll wait on for now
  • #449
  • May 22, 2008 5:39am May 22, 2008 5:39am
Pound Yen/Dollar are the hot boys today.

Anyone trading this might want to move their stop to BE fairly sharpish - as that level coincides with the weekly high.
Attached Image
I've got my pips - go get yours!
  • #450
  • May 22, 2008 5:41am May 22, 2008 5:41am
Quoting f4mnect
It was a IB but it's a area of resistance and you would need a pretty big stop because of the size of the IB. Plus I have a few things I look at also and there pretty overbought. So it might work out, but one I'll wait on for now
Resistence between 204.59-204.80. but the uptrend is strong.

I think if u refer to 4hr and D1 chart, it's not overbought. (Im using 8.3.3 SS)

I think in the other IB + SS strategy, the guy mentioned disregard overbought or over sold in a strong trend.

Correct me if im wrong, im newbie here.
  • #451
  • May 22, 2008 5:50am May 22, 2008 5:50am
Quoting robincys
Resistence between 204.59-204.80. but the uptrend is strong.

I think if u refer to 4hr and D1 chart, it's not overbought. (Im using 8.3.3 SS)

I think in the other IB + SS strategy, the guy mentioned disregard overbought or over sold in a strong trend.

Correct me if im wrong, im newbie here.
I'm with you, Ob & OS used to keep me out of many a good trade.

If the market is showing a strong trend, but the IB is long, you may want to consider entering on IB close. This will halve (approximately) your risk but is of course more risky, but at BE point (on original strategy) you will have a small profit locked in.

And where's Jarroo?
I've got my pips - go get yours!
  • #452
  • May 22, 2008 5:56am May 22, 2008 5:56am
maybe he took the night off - eur holiday
  • #453
  • May 22, 2008 5:59am May 22, 2008 5:59am
Quoting BackTestDummy
I'm with you, Ob & OS used to keep me out of many a good trade.

If the market is showing a strong trend, but the IB is long, you may want to consider entering on IB close. This will halve (approximately) your risk but is of course more risky, but at BE point (on original strategy) you will have a small profit locked in.

And where's Jarroo?

the indicator can hang around OS and OB for quite a while, i learnt from all my loss. Of course if OS or OB is in favor of the trend, it gonna be a quite good one.

Personal opinion~~
  • #454
  • May 22, 2008 6:00am May 22, 2008 6:00am
Quoting robincys
Resistence between 204.59-204.80. but the uptrend is strong.

I think if u refer to 4hr and D1 chart, it's not overbought. (Im using 8.3.3 SS)

I think in the other IB + SS strategy, the guy mentioned disregard overbought or over sold in a strong trend.

Correct me if im wrong, im newbie here.
I agree with you, But for a 1 hour IB after a pretty good up move and resistance up ahead and the 1 hour overbought a 54 pip stop(spread added) was a little heavy for me. It may work out as a great trade. But I was seeing more risk than I needed. I'll wait, that IB still may give me a trade I'll take later. But thinking there could be a little consolidation and small retreat before it breaks thru. Also what you don't know is my 4 hour set up had me in at 203.19 and I'm all ready up 150 pips currently. So the one hour IB was only a area to add to my position. lets see if it can break thru the 204.75 to 205.00 area
  • #455
  • May 22, 2008 6:00am May 22, 2008 6:00am
I'm long EUR/JPY at 162.92... who's with me?
  • #456
  • May 22, 2008 6:00am May 22, 2008 6:00am
I think u guys might take e/j long,right?
  • #457
  • May 22, 2008 6:06am May 22, 2008 6:06am
Quoting Archiphage
I'm long EUR/JPY at 162.92... who's with me?
I'm waiting on that entry. I missed my entry earlier on the 3 bounces off the weekly open at 162.24 on the 1 hour
  • #458
  • May 22, 2008 6:06am May 22, 2008 6:06am
Quoting f4mnect
I agree with you, But for a 1 hour IB after a pretty good up move and resistance up ahead and the 1 hour overbought a 54 pip stop(spread added) was a little heavy for me. It may work out as a great trade. But I was seeing more risk than I needed. I'll wait, that IB still may give me a trade I'll take later. But thinking there could be a little consolidation and small retreat before it breaks thru. Also what you don't know is my 4 hour set up had me in at 203.19 and I'm all ready up 150 pips currently. So the one hour IB was only a area to add to my position. lets see if it can break thru the 204.75 to 205.00 area
thanks, mate, u just remind me I should also check different tf as well.

Nice trade for u
  • #459
  • May 22, 2008 6:11am May 22, 2008 6:11am
Quoting robincys
thanks, mate, u just remind me I should also check different tf as well.

Nice trade for u
Thanks I have my stop set so I have 100 pips locked in. lets see if it can break thru. I'm not a free trade let it run trader. I like banking pips and can always look for another entry
  • #460
  • May 22, 2008 6:14am May 22, 2008 6:14am
Quoting f4mnect
I'm waiting on that entry. I missed my entry earlier on the 3 bounces off the weekly open at 162.24 on the 1 hour
Which bar do you use for your weekly open? My chart doesn't have an obvious candidate with that price for an open.
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