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  • #4,561
  • Oct 21, 2008 11:06am Oct 21, 2008 11:06am
Quoting Greenhaze
Don't be ignorant Willogal. What we are doing here it's learning from each other and everybody deserve to ask questions. Inzider has got a good point there even if his chart looks arcadish.
Ok - Sorry - I was not trying to be ignorant at all. I have seen so many threads lose all direction in a very short space of time and it is very important that this one does not.

No offence meant Inzider, I assure you.
  • #4,562
  • Edited 12:02pm Oct 21, 2008 11:17am | Edited 12:02pm
No offence.

I'm not feeling childish today!
I understand your point 100%.

I can assure any you that any lines or color over that chart have signification for me.
I'll post clearer ones next times for the benefit of everybody over this thread.

Keep on good work!

--------------------------------------


EU bounce at 00 - 20 pips so far - profit target 50% of last swing at 1.3154
---------------------
Edited: Closed @ 1.3140 - 40 pips profit.
Attached Image
  • #4,563
  • Oct 21, 2008 11:33am Oct 21, 2008 11:33am
Quoting belekas
+250 pips from the entry and counting. Nice down move when cable and usdyen is going in the same direction
great trade belekas

perfect use of horizontal resistance line and sloping trendline.
  • #4,564
  • Oct 21, 2008 11:40am Oct 21, 2008 11:40am
Quoting FOURX
great trade belekas

perfect use of horizontal resistance line and sloping trendline.
thanks mate. closed for 300 pips. it was also in confluence with 50% fibo of the last swing 235 pip range swing. i believe trading is about geometry and patterns and we have to keep it simple to suceed
  • #4,565
  • Oct 21, 2008 11:53am Oct 21, 2008 11:53am
Quoting Willowgal
Ok - Sorry - I was not trying to be ignorant at all. I have seen so many threads lose all direction in a very short space of time and it is very important that this one does not.

No offence meant Inzider, I assure you.
Thats right , a lot of interesting threads here get burried under the pile of non-constructive posts. I am happy when i can read something interesting on BRV & James16 thread everyday ;]. Anyway....Back on topic
  • #4,566
  • Oct 21, 2008 11:56am Oct 21, 2008 11:56am
Quoting belekas
thanks mate. closed for 300 pips. it was also in confluence with 50% fibo of the last swing 235 pip range swing. i believe trading is about geometry and patterns and we have to keep it simple to suceed

Clear and concise, will watch for more pointers,

thanks
  • #4,567
  • Edited 12:11pm Oct 21, 2008 12:00pm | Edited 12:11pm
Quoting FOURX
Clear and concise, will watch for more pointers,

thanks
I think theres another short comming on GBP/JPY right now of the previous low in confluence of 68.2% fibo @ 170.90/171

Edit: my sellimit was placed @ 171 and price missed it by 10 pips and bounced 70+ pips, damn, was a sweet short entry. Should have placed my sellimit right on the previous lows and not the round 171 number.
  • #4,568
  • Oct 21, 2008 12:13pm Oct 21, 2008 12:13pm
Also watch the usdchf nice support around the 1.1510-1.1511 level which is also a 38.2% retracement of todays uptrend.
"Amat Victoria Curam" Victory Loves Preparation
  • #4,569
  • Oct 21, 2008 12:15pm Oct 21, 2008 12:15pm
Quoting belekas
I think theres another short comming on GBP/JPY right now of the previous low in confluence of 68.2% fibo @ 170.90/171

Edit: my sellimit was placed @ 171 and price missed it by 10 pips and bounced 70+ pips, damn, was a sweet short entry. Should have placed my sellimit right on the previous lows and not the round 171 number.

good call again
  • #4,570
  • Oct 21, 2008 12:16pm Oct 21, 2008 12:16pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
Guys, the AU bucket trade that I highlighted this morning seems to be working out quite well... however, I have played it rather poorly...

The chart below shows my entry and exit...

After entry, it went 20+ pips in my favour... then retraced... I exited for +3 pips. The reason I exited was that I didn't want to let it turn into a loser...


There seems to be a fine line between not letting a winner turn into a loser... and giving a trade room to breathe...


Any comment on this trade, or giving trades room to 'breathe'?


Thanks,

Magnus
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-10-21_AU_Bucket_2_1.gif Size: 16 KB
  • #4,571
  • Oct 21, 2008 12:17pm Oct 21, 2008 12:17pm
Quoting FOURX
good call again
Thanks once more mate. Anyone who took it made a quick 140 pips and thats not the end of the downmove So simple and so effective.
  • #4,572
  • Oct 21, 2008 12:19pm Oct 21, 2008 12:19pm
bottom bucket bounce
  • #4,573
  • Oct 21, 2008 12:22pm Oct 21, 2008 12:22pm
Interesting in the gbpjpy....we have exceeded the average daily range with this uge dowwnside move. Today's low of 168.90 [around the 169.00 round number] saw a bounce up of 200pips. Would the method in this case suggest another bounce setting up a nice double bottom with a lot of profit taking room overhead?
"Amat Victoria Curam" Victory Loves Preparation
  • #4,574
  • Oct 21, 2008 12:25pm Oct 21, 2008 12:25pm
  •  Yuppie
  • Joined Jun 2007 | Status: ̿ ̿ ̿̿'̿̿\̵͇̿̿\=(•̪●)=/̵͇̿̿/'̿̿ ̿ | 2,727 Posts
First time I have used a bucket for an exit... closed the remaining 20% of the Swissy trade as price touched the inside of the bucket, shown in the chart below...

Bucket was a poor one, and a bit congested, but I was looking for a reason to exit a position in profit, rather than enter a high-probability trade...
Attached Image (click to enlarge)
Click to Enlarge Name: 2008-10-21_UF_TRADE_1_2.gif Size: 24 KB
  • #4,575
  • Oct 21, 2008 12:25pm Oct 21, 2008 12:25pm
Quoting daytrade5
Interesting in the gbpjpy....we have exceeded the average daily range with this uge dowwnside move. Today's low of 168.90 [around the 169.00 round number] saw a bounce up of 200pips. Would the method in this case suggest another bounce setting up a nice double bottom with a lot of profit taking room overhead?
These days the avarage dayly ranges are wider and its very hard to enter a position with reasonable stops based on adr templates ( thats how i call them).

Edit: we have a new LL. Today there was like 1000 pips to be made on the geppy, thats damn alot
  • #4,576
  • Oct 21, 2008 12:46pm Oct 21, 2008 12:46pm
Quoting BillyRayValentine
....pretty obvious one for now....
CHF short -

I just realized I posted this trade at 1.1595 and not 1.1590 - ouch - great trade I hope some of you caught it. Done deal for now though so Im taking it off the list.
  • #4,577
  • Oct 21, 2008 12:48pm Oct 21, 2008 12:48pm
Whats happening with GBP guys? Looks like Cable on a freefall...
  • #4,578
  • Oct 21, 2008 12:57pm Oct 21, 2008 12:57pm
Quoting belekas
Whats happening with GBP guys? Looks like Cable on a freefall...

BANK OF ENGLANDS, Mervyn King has been talking this evening
  • #4,579
  • Oct 21, 2008 12:59pm Oct 21, 2008 12:59pm
Quoting manistra
this level was tested and it will be probably broken. I am looking too 61.8% fib, but my starting point date is 22.10.2000. And that level is around 1.3047, which has good history of resistance.

One more argument is that sometimes i try to guess fib levels on currently active slope. Just try to draw fib on currently unfinished downhill, this imaginery fib fits perfectly to all levels
draw from 100% 1.6030 to 0% 1.3047
Drawing fib levels in advance can sometimes reveal rebound points with good accuracy.

This level just triggered, im Long on EURUSD ... 30 pip SL
  • #4,580
  • Oct 21, 2008 12:59pm Oct 21, 2008 12:59pm
Quoting FOURX
BANK OF ENGLANDS, Mervyn King has been talking this evening
Thanks for the info mate, cheers
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