My Trade Setups

Hi Guys,

I'm starting this thread to record my setups for possible best pair to trade.
Any critics and advise are very welcome...

On this pair (usd/jpy) we got an obvious major downtrend and price is still below it. So according to my elliot wave study, this pair is now in forming of wave 4 and soon will be running for wave 5.

If we pay close attention to the last candle, there is a lot of convergence of resistances which describe as below;
1. There is lots of old lows at around 105.85
2. There is also a R1 monthly pivot point around that level
3. There is overbought situation on the daily stoch
4. We also got 78.6 fibo retracement from the high 108.60 to low 95.73 at
the very exact place 105.85

With lots of resistances converge there, the possibility of reversal of the price is very very high.
Happy Trading .... http://forums.fxinstructor.com/images/smilies/smile.gif

thx for ur clear xplaination....UJ is my fav pair...

it is true that "Stoch" is in overbought region and we can expect a drop on UJ... but from MACD POV(point of view)...aren't we seeing 'bullish' divergence with postive MACD???

Hope to hear more fr u soon....

Cheers
sonic

Hi Thanks for your reply on my previous post on the UJ.
I want to make clear of MACD on this daily UJ view.
First of all, MACD hasn't make any divergence yet, it is pointing to the upside alright, but from my point of view it'll soon turn around going south and then probably we could seen a positive divergence (Bullish Divergence) on MACD Later.

I want also adding to my bearish view on long term UJ with a as you can see, the flag pattern in the downtrend which is a trend continuation pattern and this could make my bearish view even stronger.

Well, all of this is just my personal view anyway ...

Guys,

Just an update for GBP/USD pair from my point of view.
That this pair is currently making a possible wave 3 down...

Guys,

I think today I will enter the market for short in UJ according to all the proof I've collected. I will only enter if and only if the candle in 4H is close below the trendline.

I have 3 objectives as you can see...

and ...

Please don't try this at home .... hehehe

Hi Guys,

After almost 400 pips gain from my EURUSD trade, now I'm looking for another
setups to the upside...It hasn't been there yet because I have still my 2nd trade target @ 50 Fib Retracement from low @ 1.4310 to high @ 1.6019 which is at around 1.5166

I'll post my previous outlook of this pair along with the current outlook, any suggestion on this pair is very welcome ...

Guys,

Today I already enter the market with confirmation from 4H tf.
let me just fasten my seat belt then ...

Hi Guys,

Waiting for confirmation for this pair on 4H tf.
This is going to be just like UJ trade, a Long Term Trade...

Guys,

Just want to updating my eurusd setup...
well, everything's confirm now for this pair to continuing its move to the upside, and if that is the case...you know...
you should buy the dips in the uptrend ...
Happy trading

Guys,

I think we might have a good trade setups on USDJPY.
Overall it's in a downtrend now and from the 4H tf outlook we have;
1. Trend line retest
2. Candle Reversal on a trend line retest
3. Fib Level at that rejection level
4. Weekly pivot level
5. Previous Lows

There are so many resistances on the current level so we might have to just to wait for confirmation for going south.

Hi Guys,

I'm long on EURUSD @1.5724 with stop loss @1.5688 and take profit @1.5846
The reason I do this is...

1. I have found many support level from the minor pullback
2. My MACD Indicator is telling me to buy
3. There was a spinning top candle on the 4H TF
4. On that Spinning top there also a pivot weekly act as a nice support
5. Also with some old lows and old highs

Cheers

Guys,

Shorting USDJPY @104.03
stop loss @104.40
Target Profit @102.73

My Short Trade for USDJPY has the following reason's...
1. This pair is confirming short after it has breach the previous low on 1H
2. Short Signal from MACD
3. It is the confirm pullback move

Guys,

I'm closing all my open trades now.
With the results for this week is :

EURUSD 221 pips
USDJPY 177 pips
USDCHF 86 pips
GBPUSD 169 pips
AUDUSD 160 pips

good week after all ...

Hi Guys...

GBPUSD is my next week possible trade with major downtrend is still in play on this pair on the daily time frame also this price is got rejected at the psychology level at monthly pivot and on the hourly, we got a double top forming accompany by a bearsih divergence on MACD.

This is suggest that price will eventually follow it's major trend going south again. I will need a confirmation on price action which probably will happen on next monday May 26th 2008.

cheers

Hi Guys,

We might have a similar outlook on nzdusd with gbpusd.
first of all that this pair is in a downtrend on daily time frame and the trade balance report that will come today indicating that the nzd will find more weakness.

1. Daily; we have a chart point and also a monthly pivot act as a nice resistance there
2. We still in major downtrend
3. on 4H time frame we have a very nice bearish divergence on stoch and MACD
4. Also bearish divergence on 1H time frame

everything is look bearish on this pair for me, I will wait for the confirmation on 1h candle to get in to the market.

Will update to you soon ....

Hi bombtrader,

Just a quick question...

Why didn't you just take 5 EUR/USD contracts ????
Much less hassle...much less screen time...much less analysis.

And you would have made (221 x5) =1105 pips. Compared to your 812 pips

That is, you would have made over 36% more pips..and worked a LOT less!


Just trying to help


.

Hi Jacko,

I'm trying to trade on more pairs because I don't have a gut to put more lots on one currency pair.
Just following the old saying "don't put all your eggs in one basket" ...

Hi Guys,

Today my outlook is for USDCHF as this pair is in a major Downtrend on a daily tf. We got a nice resistances lining up (Weekly pivot, daily pivot, chart point, and 200 EMA) with a candle reversal (spinning tops) on 4h tf.
On 1h tf, we got a possible double top on a 78.6 Fib Retracement which could add to our bearish outlook.

will enter the market after I got confirmation on candle close and stop should be @1.0360 and the Target should be @1.0222

Happy Trading everyone ...

Hello everyone! Please how you estimate this screenshot of my trading system? I used only 2 indicators: Fisher M11 & varmov with some particular parameters. No any repainting!