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  • #1,241
  • Sep 16, 2008 9:46pm Sep 16, 2008 9:46pm
Quoting sonicdeejay
Dude,,,

Post some pic too...Wanna see ur analysis....

Thx
Sonic
Im not on my home computer so I cant pop up the Metatrader charts. They aren't installed here.

Just check out the high of price for the nzd/jpy for the 4th of this month. Then, draw a line between it and the high for the 12th of this month and voila. There's the trendline. You'll notice that price, as of this moment, is obeying it well. If we get a bearish close, i plan on putting more weight towards it. I'm already in from 70.56.
I dream, therefore I become.
  • #1,242
  • Sep 16, 2008 10:06pm Sep 16, 2008 10:06pm
Quoting mike w
I may open a position on the chf/jpy on the 4 hour close as well as it is at the top of the trendline too.
Well..GBPUSD look toppish too...
But it is better for us to wait till 3 Am EST...

Sonic
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd.PNG Size: 95 KB
  • #1,243
  • Sep 16, 2008 10:11pm Sep 16, 2008 10:11pm
Quoting sonicdeejay
Well..GBPUSD look toppish too...
But it is better for us to wait till 3 Am EST...

Sonic

Either way, I'm already locked into profit on this trade from 70.55 and so I will just ride it down. Simple technicals at play for that trade, it was A plus at the time that I took it.

The gbp/usd did top out on the 4 hour charts with a pin on the 15th. We've been moving lower since and I wouldn't be surprised if my next 4 hour closed as a BEOVB at midnight.
I dream, therefore I become.
  • #1,244
  • Sep 16, 2008 10:47pm Sep 16, 2008 10:47pm
I'll be placing a short order on the eur/jpy at 12 as well. It's playing right in line with the pin bar at the high of the trendline. Initial targets will be in the 147's. This should shape up to be a good week. I'll be posting with more at midnight if we see any more opportunities to clear some more money tonight.
I dream, therefore I become.
  • #1,245
  • Sep 17, 2008 8:33am Sep 17, 2008 8:33am
Quoting mike w
I'll be placing a short order on the eur/jpy at 12 as well. It's playing right in line with the pin bar at the high of the trendline. Initial targets will be in the 147's. This should shape up to be a good week. I'll be posting with more at midnight if we see any more opportunities to clear some more money tonight.
The eur/jpy and nzd/jpy shorts are going great at the moment. I've locked in more profit on both trades and now I am looking for more entry targets to add yet again on any retracement upwards.

I've just had a trade triggered based on the big dogs method on the eur/usd. The way I am playing this is that I will be taking profit at 10, 15, and 20/25 pips depending on the movement. The 4th lot will be let run and the stop loss will be set at break even as soon as possible.
I dream, therefore I become.
  • #1,246
  • Sep 17, 2008 8:36am Sep 17, 2008 8:36am
Quoting mike w
The eur/jpy and nzd/jpy shorts are going great at the moment. I've locked in more profit on both trades and now I am looking for more entry targets to add yet again on any retracement upwards.

I've just had a trade triggered based on the big dogs method on the eur/usd. The way I am playing this is that I will be taking profit at 10, 15, and 20/25 pips depending on the movement. The 4th lot will be let run and the stop loss will be set at break even as soon as possible.

First 10 is off the table for profit already.

Yet again, I can't give my good graces to you enough George. You've done an incredible amount for me since the time that I've known you and asked nothing in return. This man is a true class act. I don't know many others like him.
I dream, therefore I become.
  • #1,247
  • Sep 17, 2008 8:45am Sep 17, 2008 8:45am
I've just placed another longer term short on the gbp/jpy targeting 184. Entry was at 188.50.
I dream, therefore I become.
  • #1,248
  • Sep 17, 2008 12:53pm Sep 17, 2008 12:53pm
All of my positions got taken off the table in profit on that move upwards. The gbp/jpy was only for 10, while the others were for 100 each. Not a bad day, but I was hoping for these to work out better. I'll be looking for re-entry points as time progresses. Have a good day everyone.

Btw, the big dogs this morning all closed in profit as well. As for last week's on friday, I lost about 60 or so pips- I didn't ever post that so I thought I would.
I dream, therefore I become.
  • #1,249
  • Sep 17, 2008 8:15pm Sep 17, 2008 8:15pm
Based on the dailies, I am shorting the nzd/jpy and the eur/gbp at various levels in price. Initial entry was at 69.45 and 78.98 respectively.
I dream, therefore I become.
  • #1,250
  • Sep 19, 2008 3:18pm Sep 19, 2008 3:18pm
Quoting mike w
Based on the dailies, I am shorting the nzd/jpy and the eur/gbp at various levels in price. Initial entry was at 69.45 and 78.98 respectively.
I've taken a loss of 125 on the nzd/jpy and the eur/gbp trades are still running at the moment just above break even. I'll post with thoughts over the weekend. I had my wisdom teeth taken out so I'm going back to lay down for the moment. Have a great weekend everyone.
I dream, therefore I become.
  • #1,251
  • Sep 19, 2008 5:35pm Sep 19, 2008 5:35pm
The Usd/jpy is looking to be a solid buying opportunity based on the weekly charts. We're seeing a great looking pin right at that PPZ. I'll be editing this post as I see more opportunities.
I dream, therefore I become.
  • #1,252
  • Sep 19, 2008 7:04pm Sep 19, 2008 7:04pm
Quoting mike w
The Usd/jpy is looking to be a solid buying opportunity based on the weekly charts. We're seeing a great looking pin right at that PPZ. I'll be editing this post as I see more opportunities.
Hey Mike, there is also massive bullish hammer on the gu weekly and daily. I am hoping for a pullback before it goes higher. It looks almost certain to test 8500 next week.
Patience + Discipline - Greed = Success
  • #1,253
  • Sep 19, 2008 7:43pm Sep 19, 2008 7:43pm
Quoting Infinity
Hey Mike, there is also massive bullish hammer on the gu weekly and daily. I am hoping for a pullback before it goes higher. It looks almost certain to test 8500 next week.
I've seen those too my man! Thanks for the input, I think I'll be buying into them on a pullback from the buovb on the daily that I'm seeing. Did you mean 8500 or was that a typo? Thanks man and it's good hearing from you!
I dream, therefore I become.
  • #1,254
  • Sep 21, 2008 5:35am Sep 21, 2008 5:35am
Quoting mike w
I've seen those too my man! Thanks for the input, I think I'll be buying into them on a pullback from the buovb on the daily that I'm seeing. Did you mean 8500 or was that a typo? Thanks man and it's good hearing from you!
yes i think thats a great idea mike!...pity im on a training course otherwise id try that myself...have a good week
  • #1,255
  • Sep 22, 2008 12:02pm Sep 22, 2008 12:02pm
Quoting mike w
I've seen those too my man! Thanks for the input, I think I'll be buying into them on a pullback from the buovb on the daily that I'm seeing. Did you mean 8500 or was that a typo? Thanks man and it's good hearing from you!
Hey Mike, I meant 1.8500 which we have already seen... Looking at the daily, it looks like its want to touch the 50ema at 8600...
Patience + Discipline - Greed = Success
  • #1,256
  • Sep 22, 2008 12:08pm Sep 22, 2008 12:08pm
Quoting Infinity
Hey Mike, I meant 1.8500 which we have already seen... Looking at the daily, it looks like its want to touch the 50ema at 8600...
I agree with you there. I've been in this trade since 1.83, along with eur/jpy and gbp/jpy long at 154 and 195 respectively. For me, I would look to see a next take profit area at 1.87 and eventually 1.89 if we get past that resistance point. For now, I'll just be monitoring them and closing out if we get any solid bearishness. Thanks!
I dream, therefore I become.
  • #1,257
  • Sep 22, 2008 5:34pm Sep 22, 2008 5:34pm
I'll be posting charts of the weekly setups that are looking good at the moment now. The first will be of the gbp/jpy which closed the week as a BUOVB (bullish outside vertical bar). This is spelling out bullishness for the weeks ahead.

I'll be looking for a target of 203 to begin with as that is an area of immediate resistance.

The daily candle closed indecisively however on the close today. This, for me, is indicating to wait it out for a possible lower price for entry. The daily 5 ema is showing at 194.20, which could easily be an excellent entry with a target of 203. I'll be looking for solid price action in this area to go long again on this pair.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: buovb gbpjpy weekly.gif Size: 12 KB
Click to Enlarge Name: daily closed indecisive.gif Size: 11 KB
I dream, therefore I become.
  • #1,258
  • Sep 22, 2008 5:36pm Sep 22, 2008 5:36pm
Here is a g/j chart with 203 pointed out as the resistance area. You can see that price has stalled and or reversed here quite a bit. Simple support and resistance being used for the exit on this trading opportunity as it comes about.
Attached Image (click to enlarge)
Click to Enlarge Name: pointed out as resistance.gif Size: 12 KB
I dream, therefore I become.
  • #1,259
  • Sep 22, 2008 5:41pm Sep 22, 2008 5:41pm
Here is a screenshot of the eur/jpy which broke out earlier today. Personally, I'll be expecting a retracement, just as with the gbp/jpy, before moving any higher. I'll be expecting to see 154/155 area before seeing any more bullish price action. I'll be adding to the positions as we see the 154's come into play for a good opportunity.

You can see a solid area of resistance at 159 on this chart and so that will be my initial target for these trades.
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy broke out earlier today.gif Size: 18 KB
I dream, therefore I become.
  • #1,260
  • Sep 22, 2008 5:50pm Sep 22, 2008 5:50pm
I'm looking at the same scenario on the aud/usd although I haven't taken a trade on this pair yet.

As you can see on the weekly chart, we have a BUOVB/pin bar in effect which will be potentially pushing price up through the week ahead.

An area of solid resistance is around .8700 and so, if a trade is executed, I will have one of my take profits in this area for starters.

You can see at the moment however, that price is exhausting itself as we have moved up 500 pips in the last 3 days with no retracement. I'm also noticing that today's candle closed indecisively with a spinning top formation, which is only furthering my thoughts for the retracement.

With that, I'll be expecting to see a retracement to the .8250 area before placing any long orders on this pair. After we get to that area, I will place the trades based on bullish price action.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aussie buovb.gif Size: 14 KB
Click to Enlarge Name: however on the daily.gif Size: 12 KB
I dream, therefore I become.
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