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  • #5,501
  • Nov 10, 2008 11:36am Nov 10, 2008 11:36am
That eur/chf is looking nice. I'm looking to confirm it. if it will confirm its self I think I just can't pass. I will take a mini lot
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  • #5,502
  • Nov 10, 2008 11:50am Nov 10, 2008 11:50am
Quoting Guerrillawar
That eur/chf is looking nice. I'm looking to confirm it. if it will confirm its self I think I just can't pass. I will take a mini lot
Stop loss around 30 pips ?
  • #5,503
  • Nov 10, 2008 12:04pm Nov 10, 2008 12:04pm
it would be a stop of 42 pips. its still not confirmed yet. i'm still waiting for confirmation and keeping a close eye on eur/jpy
  • #5,504
  • Nov 10, 2008 12:27pm Nov 10, 2008 12:27pm
Eur/usd looks really nice to
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  • #5,505
  • Nov 10, 2008 12:33pm Nov 10, 2008 12:33pm
Ill be buying 1.800 resistance break on Swissey. Simple chart for your minds. Keeping in mind that Swissey is correlated to the opposite of EUR/USD, im watching triangle on EUR/USD for a LTL break.
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  • #5,506
  • Nov 10, 2008 12:35pm Nov 10, 2008 12:35pm
Quoting Guerrillawar
it would be a stop of 42 pips. its still not confirmed yet. i'm still waiting for confirmation and keeping a close eye on eur/jpy
Hi GW, please explain what you consider as confirmation for this trade and why ?
  • #5,507
  • Nov 10, 2008 1:06pm Nov 10, 2008 1:06pm
Quoting Willowgal
Hi GW, please explain what you consider as confirmation for this trade and why ?
Various Wyckoff techniques that indicate price rejection.
  • #5,508
  • Nov 10, 2008 1:08pm Nov 10, 2008 1:08pm
Quoting belekas
Ill be buying 1.800 resistance break on Swissey. Simple chart for your minds. Keeping in mind that Swissey is correlated to the opposite of EUR/USD, im watching triangle on EUR/USD for a LTL break.
Mmmmm... Very Interesting.. its had 4 pops at the breakup..and here it comes again...in a BIG wedge..back to Oct 31....now 30 pips off breakup

E$ Interesting big picture wedge ..top trend line (3 touch) from 1st Oct now at 1.30...bottom line (2 touch) now at 1.27....
Now 50 pips off breakdown

This could be big..LoL
  • #5,509
  • Nov 10, 2008 1:13pm Nov 10, 2008 1:13pm
If any one took that eur/chf I covered for nearly 20 pips and calling it a day. However, the initial target really was 1.5110-15
  • #5,510
  • Nov 10, 2008 1:39pm Nov 10, 2008 1:39pm
Quoting cliffedwards
Mmmmm... Very Interesting.. its had 4 pops at the breakup..and here it comes again...in a BIG wedge..back to Oct 31....now 30 pips off breakup

E$ Interesting big picture wedge ..top trend line (3 touch) from 1st Oct now at 1.30...bottom line (2 touch) now at 1.27....
Now 50 pips off breakdown

This could be big..LoL
Yes indeed. I have buystop on Swissey 10 pips above the resistance @ 1.800 in case the breakout will be strong and fast. Lets see if we get this break or not, as we always can enter on the pullback, if theres one.
  • #5,511
  • Nov 10, 2008 2:14pm Nov 10, 2008 2:14pm
Some one gave this link a few days ago. Not to shabby, thanks.
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  • #5,512
  • Nov 10, 2008 2:36pm Nov 10, 2008 2:36pm
USDCHF looks ready for the breakout. 1TP @ 1.1880 , asian session rarely show any momentum but there could be a lot of pending orders waiting.
  • #5,513
  • Nov 10, 2008 3:00pm Nov 10, 2008 3:00pm
Quoting Greenhaze
USDCHF looks ready for the breakout. 1TP @ 1.1880 , asian session rarely show any momentum but there could be a lot of pending orders waiting.

Looks like it bounced off 1.1800 again. It seems like it will be a good trade when it finally breaks through as its bounced off that level about 4 times now.
  • #5,514
  • Nov 10, 2008 3:25pm Nov 10, 2008 3:25pm
Hi everyone,

I was just thinking how nice all this volatility can be for us and if you just WAIT for the right setups.

But -- I flipped my EUR/USD chart back to 2004 and 2005, when the daily ATR was as low as 25-55 pips, and I wondered, how on earth will I make money trading that kind of market?

I currently use a 40 pip TSL and it works really well for me. But in a market, where the daily range is 50 pips, would a 40 pip TSL still apply? What to do then? Lower the stop loss and consecutively increase the pip value? Or to find something more volatile, like the GBP/JPY?

Some thoughts would be apprechiated from those who traded back then. (BRV, maybe? )
  • #5,515
  • Nov 10, 2008 4:16pm Nov 10, 2008 4:16pm
Quoting hendrix
Hi everyone,

I was just thinking how nice all this volatility can be for us and if you just WAIT for the right setups.

But -- I flipped my EUR/USD chart back to 2004 and 2005, when the daily ATR was as low as 25-55 pips, and I wondered, how on earth will I make money trading that kind of market?

I currently use a 40 pip TSL and it works really well for me. But in a market, where the daily range is 50 pips, would a 40 pip TSL still apply? What to do then? Lower the stop loss and consecutively increase the pip value? Or to find something...
I am sure the 40 pip stop as suggested by BRV is not a figure just plucked out of the air. It is the roughly an amount that will allow a trade 'to breathe' based on the market volatility. Therefore, in the days of lower volatility I am sure the stop would be less and therefore your pip value would be higher to equate to the same risk per trade.
  • #5,516
  • Nov 10, 2008 4:30pm Nov 10, 2008 4:30pm
Quoting hendrix
Hi everyone,

I was just thinking how nice all this volatility can be for us and if you just WAIT for the right setups.

But -- I flipped my EUR/USD chart back to 2004 and 2005, when the daily ATR was as low as 25-55 pips, and I wondered, how on earth will I make money trading that kind of market?

I currently use a 40 pip TSL and it works really well for me. But in a market, where the daily range is 50 pips, would a 40 pip TSL still apply? What to do then? Lower the stop loss and consecutively increase the pip value? Or to find something more...
Hello hendrix,
I see your issue here,but again I tihnk this is just another prime example of experience,(screentime).There are many instances when brv gets out early on a trade when he pretty much knows it is going to be stopped out.Sure there is some technical ways of figuring out a stoploss such as you mentioned ATR,GW uses a 60 and 20 minute moving average.It just comes down to the individual and what you find that works well for you.Of course the obviuos comes into play with the volitality latetly.Just play around with it and it will come to you.
  • #5,517
  • Nov 10, 2008 6:52pm Nov 10, 2008 6:52pm
Anyone think USD/CHF will break 1.1800 this time?
  • #5,518
  • Nov 10, 2008 7:36pm Nov 10, 2008 7:36pm
Quoting libb
Anyone think USD/CHF will break 1.1800 this time?

Just did
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
  • #5,519
  • Nov 10, 2008 7:38pm Nov 10, 2008 7:38pm
Quoting djambazov84
Just did

Yep, I got in Was just hoping for confirmation from more experienced traders. I'm up about 12 pips. Greenhaze says his TP is at 1.1880, sound like a good level?
  • #5,520
  • Nov 10, 2008 7:46pm Nov 10, 2008 7:46pm
Quoting libb
Yep, I got in Was just hoping for confirmation from more experienced traders. I'm up about 12 pips. Greenhaze says his TP is at 1.1880, sound like a good level?
This trade has the potential of running hundreds of pips, due to the super-obvious resistance 1.18 was providing for many days. However turn on your daily and h4 chart and try to assess what important price levels lie ahead which have a good history of being used as both supp & resistance. Your take profit strategy could be taking 1/4 or 1/3 of your lot size as you see important levels being breached/rejecting the current price. Also try to pyramid on every retracement. This could be a good profit:risk trade. If price wants to retest 1.18 stay positive and let the trade run. If it breaches 1.18 then it could be a false brakeout
Thank you Malcolm, Belekas, Jim, raczekfx and Ryanmcd !
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