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  • #1,321
  • Jun 24, 2008 2:19pm Jun 24, 2008 2:19pm
Quoting zoopy
Entered long. Lets see if this trade holds up better than my euro attempt earlier.

Does that mean you are going to enter short on E/U because the correlation between these two pairs are highly opposite, or at least have a down bias on the EU..
  • #1,322
  • Jun 24, 2008 2:22pm Jun 24, 2008 2:22pm
Quoting greywolf238
Does that mean you are going to enter short on E/U because the correlation between these two pairs are highly opposite, or at least have a down bias on the EU..
No. I never trade eurusd and usdchf at the same time. Correlation between the two is very high.

If I was to treat them separately though, I would be long usdchf because I have a signal based on waves and eurusd I would be waiting for it to either break up or for the wave to collapse.
  • #1,323
  • Jun 24, 2008 2:33pm Jun 24, 2008 2:33pm
Here's what happen to the EU last time we had a FOMC statement on April 30 @ 2:15 it shot up just over a 100 pips.

Edit: I just looked up the March Fomc that one had a spike down.. lol
Attached Image (click to enlarge)
Click to Enlarge Name: euh1.gif Size: 24 KB
  • #1,324
  • Jun 24, 2008 2:39pm Jun 24, 2008 2:39pm
Quoting greywolf238
Here's what happen to the EU last time we had a FOMC statement on April 30 @ 2:15 it shot up just over a 100 pips.
Interesting. Euro is definitely preparing for a very big move. It's been ranging for the past week or so and I think we're going to get an explosive move tomorrow after the news. Same goes with oil... oil has been coiling up for the past 2 weeks now. Something big is going to happen and it's going to happen very soon.
  • #1,325
  • Jun 25, 2008 12:02am Jun 25, 2008 12:02am
hey zoop

let us know how your swissy trade goes.
  • #1,326
  • Jun 25, 2008 5:07am Jun 25, 2008 5:07am
Quoting kaunasny
hey zoop

let us know how your swissy trade goes.
Exit trade for a small loss.

Reason for the exit
Price sloped down against me and closed. When that happens, cut your losses short and let the wave break.

On another note... here is a chart of the current wave.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_currentwave.gif Size: 11 KB
  • #1,327
  • Jun 25, 2008 5:12am Jun 25, 2008 5:12am
There has been no wave collapse on the eurusd. We are continuing to break waves going up. When that happens, buy on pullbacks and wave breaks. See chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_bias_up.gif Size: 10 KB
  • #1,328
  • Jun 25, 2008 8:08am Jun 25, 2008 8:08am
Gold = wave collapse (will be confirmed at end of this hour)
Oil = Creating a very big wave, could collapse since it's heading down to wave base.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gold_bias_short.gif Size: 10 KB
Click to Enlarge Name: oil_4hour_current.gif Size: 10 KB
  • #1,329
  • Edited 11:35am Jun 25, 2008 8:36am | Edited 11:35am
Lets try this again... long usdchf. Bias for this pair is still long since no wave has collapsed. See chart attached.

Edit: Managed to catch some of the spike up but had to close trade as the momentum down increased very rapidly.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_long.gif Size: 11 KB
  • #1,330
  • Jun 25, 2008 8:42am Jun 25, 2008 8:42am
Missed this one. There was a wave break on usdjpy. Bias for this pair is up.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy_4hour_break.gif Size: 8 KB
  • #1,331
  • Jun 25, 2008 8:45am Jun 25, 2008 8:45am
Cable has a wave forming and price is heading to the base of the current wave. Current bias for this pair is up since no wave has collapsed yet.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd_4hour_currentwave.gif Size: 11 KB
  • #1,332
  • Jun 25, 2008 8:47am Jun 25, 2008 8:47am
Aussie is creating another wave and price is heading to the base. Current bias for this pair is up.
Attached Image (click to enlarge)
Click to Enlarge Name: aussie_4hour_wave.gif Size: 9 KB
  • #1,333
  • Jun 25, 2008 10:10am Jun 25, 2008 10:10am
Hey Zoopy


Does it not bother you entering a trade before FOMC?

rgds

FXP

Quoting zoopy
Lets try this again... long usdchf. Bias for this pair is still long since no wave has collapsed. See chart attached.

  • #1,334
  • Jun 25, 2008 10:23am Jun 25, 2008 10:23am
Quoting fxprocessor
Hey Zoopy


Does it not bother you entering a trade before FOMC?

rgds

FXP
Good question FXP

To be honest, I try to not let that get in my way. When I backtested waves (or any other method for that matter), I never ever referred to news. I'm just trying to be consistent and trading what I see on my charts. If usdchf breaks down, it breaks down and I take a loss. If momentum speeds up quickly I'll likely pull the trade before it hits my stop.
  • #1,335
  • Jun 25, 2008 11:42am Jun 25, 2008 11:42am
Euro has broken another wave to the upside. As for usdchf, after the quick spike up, has broken down collapsing a wave. Currently short usdchf.

eurusd bias is up
usdchf bias is down
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd_wave_break.gif Size: 10 KB
Click to Enlarge Name: usdchf_wave_collapse.gif Size: 10 KB
  • #1,336
  • Jun 25, 2008 11:44am Jun 25, 2008 11:44am
Aussie has broken yet another wave up. Typically the way I trade these waves, if I miss the pullback, I grab it on the break.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd_wave_break.gif Size: 9 KB
  • #1,337
  • Jun 25, 2008 3:21pm Jun 25, 2008 3:21pm
Cashed in on earlier short. Looking for a pullback to the red target area and when price turns south I'll be shorting again.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf_pullback.gif Size: 10 KB
  • #1,338
  • Jun 25, 2008 3:26pm Jun 25, 2008 3:26pm
Eurusd may pullback. Bias for this pair is long because of the wave break. Since I'm testing swissy, I won't be trading this pair the same time. However... for those interested in longs, wait for price to enter into the red target area first if possible.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd_pullback.gif Size: 10 KB
  • #1,339
  • Edited 5:06pm Jun 25, 2008 4:38pm | Edited 5:06pm
Quoting zoopy
Eurusd may pullback. Bias for this pair is long because of the wave break. Since I'm testing swissy, I won't be trading this pair the same time. However... for those interested in longs, wait for price to enter into the red target area first if possible.
Roger that..zoopy!!
ADX is still too low,that show the votality!!!
Moreover I will wait for the price to break above 1.57xx region for clearer direction...

http://i32.tinypic.com/2ns58x0.jpg
sonic
  • #1,340
  • Jun 25, 2008 4:52pm Jun 25, 2008 4:52pm
Quoting sonicdeejay
roger that..zoopy!!

sonic
Hopefully it doesn't take an entire week to pull back. Everything has been moving so slow lately
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