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EURUSD

  • #43,281
  • Nov 4, 2008 10:53am Nov 4, 2008 10:53am
It seems that 1.3000 psych level won't stop this run...
  • #43,282
  • Nov 4, 2008 10:53am Nov 4, 2008 10:53am
It still going up
  • #43,283
  • Nov 4, 2008 10:53am Nov 4, 2008 10:53am
Quoting Algirdas
No Trade, but I do some update:
EUR/USD Buy near 1.2747
GBP/USD Buy near 1.5807
AUD/USD Buy near 0.6841
NZD/USD Buy near 0.5977

USD/CAD Sell near 1.1781
USD/CHF Sell near 1.1699
USD/JPY Buy near 99.01
No Trade, but...my next Update:

EUR/USD Buy near 1.2911
GBP/USD Buy near 1.599
AUD/USD Buy near 0.6847
NZD/USD Buy near 0.5981

USD/CAD Sell near 1.1755
USD/CHF Sell near 1.1637
USD/JPY Buy near 99.50
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  • #43,284
  • Nov 4, 2008 10:56am Nov 4, 2008 10:56am
Quoting SpecialEd
Au contraire! Since 11:30EST last night (M30 tf), there have only been 5 bear candles. That's about as clear a picture as you're gonna get.

I make it 7 and 20 bull on the M30 since 11:30 EST

I still think this spike is fake and will fade. Having said that it just went through the 1.300 level which was my resistance 3 level....

Seems to now be hovering. Psychological level in play . Last high on 29/10/08

hhhhmmmmm perhaps if I place an order now I can get the market to turn back......

LOL
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  • #43,285
  • Nov 4, 2008 10:58am Nov 4, 2008 10:58am
I'm going to stay out of this trade to risky.
  • #43,286
  • Nov 4, 2008 11:01am Nov 4, 2008 11:01am
Trade in at 1.3023

Stop @ 1.2923

TP.... not sure yet.

We shall see...........
  • #43,287
  • Nov 4, 2008 11:02am Nov 4, 2008 11:02am
Quoting acumen
It's a great system.

6% is kick azz.

That's very, very good.

The hard part is not getting frustrated when you get stopped out every now and then.

Every system has a drawdown... this one has a low one.

Just be sure to put the 50 EMA on a 5 or 15 minute chart and NEVER trade against it. (I use the 15 min with daily pivots)
hmm...I was not aware of this EMA50 in 15 minute chart. I used EMA50 once, but it was in a old system (catFX50, you might know it..), but the timeframe was 30 min.

so, basically, EMA50 pointing up = you DON'T short, and vice versa, right?

I've been paper trading this method along with other classic stuff, like trendline/channel breakouts e other reliable price action patterns, and I must say I am very impressed. Simple, yet powerful.

thanks!
  • #43,288
  • Nov 4, 2008 11:05am Nov 4, 2008 11:05am
ha ha watch it fall! right on my trade ha ha
  • #43,289
  • Nov 4, 2008 11:05am Nov 4, 2008 11:05am
Quoting Jack Herer
hmm...I was not aware of this EMA50 in 15 minute chart. I used EMA50 once, but it was in a old system (catFX50, you might know it..), but the timeframe was 30 min.

so, basically, EMA50 pointing up = you DON'T short, and vice versa, right?

I've been paper trading this method along with other classic stuff, like trendline/channel breakouts e other reliable price action patterns, and I must say I am very impressed. Simple, yet powerful.

thanks!
Above the 50 long... below it short. (Obviously in accordance with the system)

Many use the pp but this will work also.
  • #43,290
  • Nov 4, 2008 11:15am Nov 4, 2008 11:15am
Quoting acumen
This is one of those pattern trades that works the same as the others I've posted.

When price is at an 80 level it wants to move to the round number.

It's like a magnet.

I got in early and out early because we are around the 11:00 o'clock hour and that's often when the EURO desks say... had enough... close out and go home.

While you are looking at the chart check out the .50 to .80 move.
Hi... I'm new here... would you tell me what are the other patterns that you posted... I need to learn from all you....
  • #43,291
  • Nov 4, 2008 11:15am Nov 4, 2008 11:15am
and back she comes!
  • #43,292
  • Nov 4, 2008 11:19am Nov 4, 2008 11:19am
and down again......
  • #43,293
  • Nov 4, 2008 11:20am Nov 4, 2008 11:20am
Looks like I am going to have to re-evaluate the forex market, as this move really disrupted my strategy.

Scalping mode vs. buying and holding mode...darn darn darn.

I had the lots in my hand last night determined to hold them...I talked to my dad on the phone and decided, what the heck close em up and look again tomorrow. Blew it. Woulda, shoulda, coulda been a huge day

Well At least I posted some positive pips.
  • #43,294
  • Nov 4, 2008 11:30am Nov 4, 2008 11:30am
Quoting TIckerShuffl
Looks like I am going to have to re-evaluate the forex market, as this move really disrupted my strategy.

Scalping mode vs. buying and holding mode...darn darn darn.

I had the lots in my hand last night determined to hold them...I talked to my dad on the phone and decided, what the heck close em up and look again tomorrow. Blew it. Woulda, shoulda, coulda been a huge day

Well At least I posted some positive pips.
I suggest use both modes since you seem to be interested in both. Allocate a proportion to each strategy using a level you are comfortable with. I do this by buying and holding very small lots so that I have relatively small risk compared to my account balance. If the market makes a big move, I make good money, although not huge money, but little was risked. I may hold these positions 3-5 days. Mostly I scalp so I typically use more lots for those trades.
  • #43,295
  • Nov 4, 2008 11:35am Nov 4, 2008 11:35am
Quoting TradeWell
I suggest use both modes since you seem to be interested in both. Allocate a proportion to each strategy using a level you are comfortable with. I do this by buying and holding very small lots so that I have relatively small risk compared to my account balance. If the market makes a big move, I make good money, although not huge money, but little was risked. I may hold these positions 3-5 days. Mostly I scalp so I typically use more lots for those trades.
Good points. I am being so conservative right now, I need to take a little more risk and be a little more creative in positioning.

Longing some EURAUD, lokos like EURO and AUD about to roll over...lately been bullish for EURAUD, but trade looking less effective each day.

edit: closed EURAUD a loser...the trend has changed...oh boy.
  • #43,296
  • Nov 4, 2008 11:38am Nov 4, 2008 11:38am
GU also starting to free fall
  • #43,297
  • Nov 4, 2008 11:45am Nov 4, 2008 11:45am
LOL

Time to kick back and find something else to do before I give everything back for today. Bounced right after I closed...killing me.

Good luck all!
  • #43,298
  • Nov 4, 2008 11:46am Nov 4, 2008 11:46am
Quoting GuateForex
Hi... I'm new here... would you tell me what are the other patterns that you posted... I need to learn from all you....
Does anybody know where can i lern Acumen's methot... or other method.... I'm new and I'm in red numbers!!! Help please....
  • #43,299
  • Nov 4, 2008 11:48am Nov 4, 2008 11:48am
Quoting GuateForex
Does anybody know where can i lern Acumen's methot... or other method.... I'm new and I'm in red numbers!!! Help please....
His wide stance method?

har har har
  • #43,300
  • Nov 4, 2008 11:49am Nov 4, 2008 11:49am
Quoting GuateForex
Does anybody know where can i lern Acumen's methot... or other method.... I'm new and I'm in red numbers!!! Help please....
Acumen's method is his own. You should develop your own method. If Acumen's tips help you, that's good, but ultimately you have to develop your own style. If you are new, there is a newbie discussion group on this site, but no one here will teach you everything you need to know.
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