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  • #1,681
  • Jul 27, 2008 7:45pm Jul 27, 2008 7:45pm
Quoting andante9
Just thought I'd offer what I'm seeing on this pair. . .

As you can see the EA has taken the long position. That aside, I'd just like to point out what I see as a possible resistance level that one might consider on this trade if it was being considered for a manual trade.

By applying trendlines for the month of July I am seeing that we are at the top the of the most recent trend down, indicating to go short not long.

I think that this pair may see some upside here or maybe even a break out to the upside but IMHO more likely will be a continued downtrend.

Attachment
I just want to offer another angle to look at when considering S/R
Thanks for your perspective on this trade. Here is what I was looking at on this trade. I took the trade at 1.6004. I like seeing two different angles on this, thats why I joined this forum. Hopefully, it will see enough upside to hit the initial profit target so I can close 1 and move to break even on the other.
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  • #1,682
  • Jul 27, 2008 9:25pm Jul 27, 2008 9:25pm
Quoting TraderJSS
Thanks for your perspective on this trade. Here is what I was looking at on this trade. I took the trade at 1.6004. I like seeing two different angles on this, thats why I joined this forum. Hopefully, it will see enough upside to hit the initial profit target so I can close 1 and move to break even on the other.
I think that both perspectives hold some value. . . the only difference may be the time frame involved. For instance your trendline is drawn back to May and mine is only July. The funny thing is, over some time both analysis may prove to be winners at some point. With gives rise to the argument that it may not be so much the entries that matter the most but rather the exits.

Best of luck on your trade whether demo or live

  • #1,683
  • Jul 27, 2008 9:54pm Jul 27, 2008 9:54pm
Quoting andante9
I think that both perspectives hold some value. . . the only difference may be the time frame involved. For instance your trendline is drawn back to May and mine is only July. The funny thing is, over some time both analysis may prove to be winners at some point. With gives rise to the argument that it may not be so much the entries that matter the most but rather the exits.

Best of luck on your trade whether demo or live

I agree with you 100%, this is why trading forex becomes complex at certain times, its not necessarily when you get in, but rather when you get out. I look forward to seeing more analysis on trades to come.
  • #1,684
  • Jul 28, 2008 9:49am Jul 28, 2008 9:49am
So painful i didnt take the EURCAD trade...ouchhh
  • #1,685
  • Jul 28, 2008 9:55am Jul 28, 2008 9:55am
anyway a SS CADJPY trade tomorrow is still to come...
  • #1,686
  • Jul 28, 2008 10:00am Jul 28, 2008 10:00am
Quoting femzy112
anyway a SS CADJPY trade tomorrow is still to come...
Should have been on that today - it was the Forex Moments Signal for this week.

Took the EUR/CAD trade myself but not the CAD/JPY.
James The Beekeeper
  • #1,687
  • Jul 28, 2008 10:06am Jul 28, 2008 10:06am
I shorted that last night around 8 pm eastern I think, I woke up and left for work I was up 17 pips and as I was leaving I changed my SL to +2 as I wouldnt be home to monitor it....what has the direction on it been since say 0800 EST I cant check at work.


Thanks
  • #1,688
  • Jul 28, 2008 10:29am Jul 28, 2008 10:29am
Quoting femzy112
anyway a SS CADJPY trade tomorrow is still to come...
This may change before the new daily candle, but right now the stoch is too low (18 on the FXDD chart) for cad/jpy to be a valid AshFX signal.
Greetings from Guanajuato, Mexico
  • #1,689
  • Jul 28, 2008 10:36am Jul 28, 2008 10:36am
Quoting TraderJSS
I agree with you 100%, this is why trading forex becomes complex at certain times, its not necessarily when you get in, but rather when you get out. I look forward to seeing more analysis on trades to come.
Hit TP1 beautifully after breaking out of the channel. I'm glad the ea took that for me cause I probably would have talked myself out of it!
  • #1,690
  • Jul 28, 2008 10:39am Jul 28, 2008 10:39am
The eur/cad long proved to be a great signal. I've got one lot closed and the second lot is currently up 117 pips on that trade.

Another signal that is still moving nicely is the usd/cad long from 7/23. The first lot closed and the second is up 159 pips. We're now in a previous resistance area (around 1.0240). If price can punch through that, we could be good for another 75 pips or so up to the next resistance area of 1.0320. A very nice trade indeed.
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Greetings from Guanajuato, Mexico
  • #1,691
  • Jul 28, 2008 10:45am Jul 28, 2008 10:45am
stoch is slow but IMHO i feel its still looking good for an SS trade;i might not look back at it if it comes out valid.
  • #1,692
  • Jul 28, 2008 10:59am Jul 28, 2008 10:59am
Quoting femzy112
stoch is slow but IMHO i feel its still looking good for an SS trade;i might not look back at it if it comes out valid.
You very well may be right, femzy. The stoch could stay below 20 for days and you could still have a very nice trade going. I just wanted to note the stoch reading for those who may just be joining the thread and wondering about whether this trade would conform exactly to AshFX system rules.
Greetings from Guanajuato, Mexico
  • #1,693
  • Jul 28, 2008 11:00am Jul 28, 2008 11:00am
Hi.

Is there anyone who took the GBP/USD of Friday July 25th on Alpari UK? Accoerding to the rules that was supposed to be the signal, but as it is, i am still on negative, more than two days after, though it hasn't hit stoploss yet. or did i do something wrong?

Advice anyone?

Ok. Another thing; what are the loopholes to avoid when playing by the rules of this system? I have only read the success stories; any losses?
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  • #1,694
  • Jul 28, 2008 11:04am Jul 28, 2008 11:04am
i tot we all agreed to stay out of the trade basically cos of the the news attached to that day.That pair really went wild that day.
  • #1,695
  • Jul 28, 2008 11:08am Jul 28, 2008 11:08am
Quoting Andigho
Hi.

Is there anyone who took the GBP/USD of Friday July 25th on Alpari UK? Accoerding to the rules that was supposed to be the signal, but as it is, i am still on negative, more than two days after, though it hasn't hit stoploss yet. or did i do something wrong?

Advice anyone?
There were a number of posts regarding this signal starting at #1634. Some took this trade; I personally did not and posted my reasons at the time, so take a look back at those posts.

Quote
Ok. Another thing; what are the loopholes to avoid when playing by the rules of this system? I have only read the success stories; any losses?
The loophole would be blindly following every signal. Ash has stated, and every trader should know, that S & R is king. It can't be ignored when you're considering whether or not to take a signal. I also look at trend lines and how price reacts around them, as I noted in the post regarding the gpb/usd trade you asked about.
Greetings from Guanajuato, Mexico
  • #1,696
  • Jul 28, 2008 11:11am Jul 28, 2008 11:11am
Quoting yen44x
There were a number of posts regarding this signal starting at #1634. Some took this trade; I personally did not and posted my reasons at the time, so take a look back at those posts.

The loophole would be blindly following every signal. Ash has stated, and every trader should know, that S & R is king. It can't be ignored when you're considering whether or not to take a signal. I also look at trend lines and how price reacts around them, as I noted in the post regarding the gpb/usd trade you asked about.
hmmmm; what more can one say
U said it all pal
  • #1,697
  • Jul 28, 2008 11:12am Jul 28, 2008 11:12am
Quoting femzy112
i tot we all agreed to stay out of the trade basically cos of the the news attached to that day.That pair really went wild that day.
I'm not sure which trade you're referring to, my friend, but I personally never make a group decision on a trade. I want only myself to blame if I'm wrong.
Greetings from Guanajuato, Mexico
  • #1,698
  • Jul 28, 2008 11:18am Jul 28, 2008 11:18am
On the other hand, if you make some great trading decisions and end up getting rich, here's some investment advice I received today:

"Here's a little retirement info for you: If you had purchased $1,000.00 of Delta Air Lines stock one year ago, you would have $49.00 left.

 With Enron, you'd have had $16.50 left of the original $1, 000.00.

 With WorldCom, you'd have had less than $5.00 left.

 But... if you had purchased $1,000.00 worth of beer, one year ago,drank all the beer and then turned in the cans for the aluminum recycling REFUND, you'd have $214.00.

 Based on the above, the best current investment advice is to drink heavily and recycle. It's called the 401-Keg."
Greetings from Guanajuato, Mexico
  • #1,699
  • Jul 28, 2008 11:24am Jul 28, 2008 11:24am
lol

Yen you and this beer thang...
  • #1,700
  • Jul 28, 2008 11:30am Jul 28, 2008 11:30am
Quoting femzy112
lol

Yen you and this beer thang...
The ironic part is I actually drink a beer maybe once a month at most. For some reason, I enjoy posting about it much more than actually drinking.

I think I've discovered the reason. If I drink a lot of beer, I think my jokes are funny, but then I get sick. If I just write about beer, I still think my jokes are funny, but I only make others sick.
Greetings from Guanajuato, Mexico
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