looks like a well rounded system to me
Dave
-superdezign.com
Dave
-superdezign.com
Got it. As you can see I tend to keep quite a few "notes" on my charts 
I guess I had the notion that it could function like a plain candle pattern and have a neckline ect... but that wouldn't make too much sense I guess. Thanks for the info both of you! The more knowledge the better.
I'm also keeping a very close eye on the EUR/YEN... Looks like it may happen, but I have to keep my hand away from the trigger (or mouse button) for awhile.
I guess I had the notion that it could function like a plain candle pattern and have a neckline ect... but that wouldn't make too much sense I guess. Thanks for the info both of you! The more knowledge the better.I'm also keeping a very close eye on the EUR/YEN... Looks like it may happen, but I have to keep my hand away from the trigger (or mouse button) for awhile.
You beat me to it! HA!
DireXiv
Make it happen, no one
else is going to do it for you...
I also wont consider the Gbp as a double bottom because of the cross over zero. The round bottom is also not perfect but it was surely on. We had a power failure just after the close of the 21:00(gmt+2) candle. The movement is yet slow as to get momentum so we might see some testing of the botoom resistance again especialy EurUsd. Just be aware of that. It might then form a double bottom which will be the confirmation. Just be aware of the break downwards. We are in a 4 week consolidation of around 100pips. It will go some direction and when it gets to support or resistance we have to be carefull for the breakout. Dont enter to early. Wait for the MACD to give a signal.
I am currently long the EurUsd at 1.2927 with stop at 1.2889 with first profit at 1.2945
Good luck.
Just to check :
Your entry was after a MACD confirmation of a rounding bottom, right?
Your stop @ 1.2889 is a trendline support, right?
Your first profit is between MA8 and 21, right?
Next, risk/reward is 1 : 0.47 (38 pips loss vs 18 pips profit)
So, how come you still went ahead with the trade?
Or, should we have used MA89 as the profit target @ 1.2964.
So, risk : reward is almost 1 : 1 (38 pips loss vs 27 pips profit)?
Kindly share your experience.
By the way, good trade, Phil!
- | Commercial Member | Joined Nov 2006 | 2,223 Posts
Hi Phil
Just to check :
Your entry was after a MACD confirmation of a rounding bottom, right?
Your stop @ 1.2889 is a trendline support, right?
Your first profit is between MA8 and 21, right?
Next, risk/reward is 1 : 0.47 (38 pips loss vs 18 pips profit)
So, how come you still went ahead with the trade?
Or, should we have used MA89 as the profit target @ 1.2964.
So, risk : reward is almost 1 : 1 (38 pips loss vs 27 pips profit)?
Kindly share your experience.
By the way, good trade, Phil!
Remember I said first profit. It does not mean that when the price is moving up that you have to take partial profits at the first target. When it went passed the first one the 89SMA was the next target. I sold 0.5 lots at 1.2960 and the rest is breakeven + 10. We have a touch of the 21EMA as well. Next up target 1.2980-1.3000 at 365EMA to 1.3000 pricelevel.
Sorry I did not answer all your questions.
Stoploss was below trendline support.
Risk:reward was calculated to what I expect this trade will go and not my first partial profit as that target was not the dominant one. Price levels, 89SMA and 200SMA are the big ones.
What a great day for the MACD!!!.... except I only came out with 12 pips because of moving my stops to try and keep some profit. If I could have lasted another 45 minutes... I would have come away with around 200 pips on 3 trades Eur/usd, Eur/Yen, and GBP/Usd. 
So, here is the "money" question for me -
Phillip, when do you move the stop loss to get back to even? I can't take partial profits on my account because it's a mini account, so I can't trade exactly as you do at this point. Because of that, should I just set my stop loss where needed initally and not move until the major move is over? Then just plan on taking a loss if it comes? I'm trying to only take the best moves, so maybe that would be my plan?
I know that's not how you do it, but your opinion would help a lot.
Thanks!
So, here is the "money" question for me -
Phillip, when do you move the stop loss to get back to even? I can't take partial profits on my account because it's a mini account, so I can't trade exactly as you do at this point. Because of that, should I just set my stop loss where needed initally and not move until the major move is over? Then just plan on taking a loss if it comes? I'm trying to only take the best moves, so maybe that would be my plan?
I know that's not how you do it, but your opinion would help a lot.
Thanks!
DireXiv
Make it happen, no one
else is going to do it for you...
