Thank you, FX1. I understud the logic.
Psych Levels, Pivots, and Trendlines - Resurrected
- #1,167
- Oct 30, 2008 4:26am Oct 30, 2008 4:26am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Trading Levels with WRBs
- #1,168
- Oct 30, 2008 4:32am Oct 30, 2008 4:32am
I've posted an interesting set up on the EJ that uses the levels and 34 ema...
http://www.forexfactory.com/showpost...&postcount=253
If / when the 129 level breaks this will be a great trade.....
.. Goodluck Islander!
Life is a journey... So is trading.
- #1,170
- Oct 30, 2008 6:39am Oct 30, 2008 6:39am
- Joined Jan 2007 | Status: Trader | 11,838 Posts
Looks like you got a great one in cable.....http://www.forexfactory.com/images/icons/icon14.gif
Trading Levels with WRBs
- #1,171
- Oct 30, 2008 8:03am Oct 30, 2008 8:03am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Had a busy morning, so not been able to do much except glance at the screen once or twice in passing.
I see fx1 and Islander have been doing nicely today......great trades, guys.
This one I'm posting now is a trade just using the pivot points and ema's. I saw the bearish engulfing candle straddling the two ema's, and then waited for a confirming candle, which turned out to be a doji, and a bullish one at that. Not good, so I waited a bit and entered as indicated just under the 13ema. My target was the sub-midpoint, which was duly hit, giving a highly satisfactory trade. It's trades like this that endorse acumen's message. It doesn't have to be complicated to be successful.
I see fx1 and Islander have been doing nicely today......great trades, guys.
This one I'm posting now is a trade just using the pivot points and ema's. I saw the bearish engulfing candle straddling the two ema's, and then waited for a confirming candle, which turned out to be a doji, and a bullish one at that. Not good, so I waited a bit and entered as indicated just under the 13ema. My target was the sub-midpoint, which was duly hit, giving a highly satisfactory trade. It's trades like this that endorse acumen's message. It doesn't have to be complicated to be successful.
- #1,172
- Oct 30, 2008 7:59pm Oct 30, 2008 7:59pm
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Hi folks.
It looks as if this is going to be a bit of a regular thing.......trading as and when I can manage it, due to my care-giver duties. So here's two nice trades that I managed to spot a little earlier. I entered the first one as indicated by the upper yellow price label, after spotting the harami candle slap bang on the 34ema. I waited for the next candle to drop below the 13ema, and entered, ultimately exiting where the lower yellow price label is.
The exit candle turned out to be another harami candle, so I decided to try a counter-trend trade, which, as the two blue price labels indicate, turned out OK. It's interesting to note that the closing green candle of that trade and the following bearish candle formed a dark cloud cover, which ultimately would have led to a hell of a ride down, but I was happy with the two trades I'd already taken. Note that this chart only has the psych-lines .00, .20, .50 and .80, the only other points of reference being the two emas.
See you in the morning, I hope!
It looks as if this is going to be a bit of a regular thing.......trading as and when I can manage it, due to my care-giver duties. So here's two nice trades that I managed to spot a little earlier. I entered the first one as indicated by the upper yellow price label, after spotting the harami candle slap bang on the 34ema. I waited for the next candle to drop below the 13ema, and entered, ultimately exiting where the lower yellow price label is.
The exit candle turned out to be another harami candle, so I decided to try a counter-trend trade, which, as the two blue price labels indicate, turned out OK. It's interesting to note that the closing green candle of that trade and the following bearish candle formed a dark cloud cover, which ultimately would have led to a hell of a ride down, but I was happy with the two trades I'd already taken. Note that this chart only has the psych-lines .00, .20, .50 and .80, the only other points of reference being the two emas.
See you in the morning, I hope!
- #1,173
- Oct 30, 2008 10:31pm Oct 30, 2008 10:31pm
Hi folks.
It looks as if this is going to be a bit of a regular thing.......trading as and when I can manage it, due to my care-giver duties....
It looks like you're able to incorporate the EMAs into you're strategy quite well.
Life is a journey... So is trading.
- #1,175
- Oct 31, 2008 4:15am Oct 31, 2008 4:15am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Hi guys! Short after price crossed below the low of the pennant formation. TP was missed by a couple of points. Closed the trade at 1.6273.
- #1,176
- Oct 31, 2008 4:32am Oct 31, 2008 4:32am
Great trade, mate, and well spotted regarding the little pennant! I bet you wish you'd let the trade run! What a drop all the way to 1.6126!!
.. I do wish I had let it run but I decided to place the TP at a potential support level from previous hours. But it broke through it and made a 200 point drop. Still, pips are pips. 
I'm currently looking at a possible bearish flag. A break downwards might be a continuation of the previous down move. What do you think EV?
Life is a journey... So is trading.
- #1,177
- Oct 31, 2008 4:44am Oct 31, 2008 4:44am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
Thanks EV!
I'm currently looking at a possible bearish flag. A break downwards might be a continuation of the previous down move. What do you think EV?
Edit: Ooooops!!! Checking wrong chart out! Yes, cable looks as if it's ready to break out southwards, mate. Sorry about that!
- #1,179
- Edited 5:08am Oct 31, 2008 4:53am | Edited 5:08am
I'm short from 1.6195 on cable, let's see how this goes.
Edit: Exit at +10 after the hammers and tweezer bottom @ M5 and hammer @ M15\\
Edit: Looks like it still went down after all. Oh well, we can't get them all.
Edit: Exit at +10 after the hammers and tweezer bottom @ M5 and hammer @ M15\\
Edit: Looks like it still went down after all. Oh well, we can't get them all.
Life is a journey... So is trading.
- #1,180
- Oct 31, 2008 5:07am Oct 31, 2008 5:07am
- Joined Sep 2006 | Status: Son of this Sceptred Isle. | 3,635 Posts
