Teb,
Would this be a valid setup still? or am I wrong on this one.
fxst
Would this be a valid setup still? or am I wrong on this one.
fxst
Attached Image (click to enlarge)
- #642
- Edited 3:45am Dec 5, 2008 3:01am | Edited 3:45am
- | Joined Dec 2008 | Status: Trader | 109 Posts
The bounce and candle formation off the 4 hour
also the 200 is good on the day & week
so the 4 hour 200 is the last
also we had a great trend line break on the 5 & 15 min charts
the 3rd target was just taken out
Attachment
moving SL up
cheers
TEB
I have been following all of your thread with a LOT of interest. BTW this is my first post and I would like to start off with a big THANK YOU to everyone contributing such wealth to FF
I cannot understand why you went long on the USDCHF so early. The charts are ABOVE the 200ema on the daily, above also on the 4hr, and broke the 1hr chart. I understand that you are trading the consolidation pattern off the support level, but this isn't following your usual trading system ?
Shouldn't we be waiting (now that the break has occured on the 1hr) for the continuation to BUY at about 1.2070 when the pair crosses back over the 200ema?
Thanks in advance!
Daniel
- #643
- Dec 5, 2008 4:00am Dec 5, 2008 4:00am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Teb,
Would this be a valid setup still? or am I wrong on this one.
fxst
teb
- #645
- Dec 5, 2008 4:13am Dec 5, 2008 4:13am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
great set up on the Chf again
using day, 4h our & hour
cheers
Teb
using day, 4h our & hour
cheers
Teb
- #648
- Edited 2:59pm Dec 5, 2008 4:50am | Edited 2:59pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Thanks for a quick reply TEB,
Can you take a look at CHFJPY ? (4HR is BELOW, 1HR is BELOW and 15Min crossed the 200ema earlier and is dashing down)..... would you consider this to be a good trade and how far would you place your T/P ?
May I ask (on the side), how long have you been trading this fantastic system? Are you a full time trader ?
Regards from Malta!
I really don't trade this pair,
and I think it's important to get to know a pair & how they feel?!
!!! I do not know NFP will do to it!!!
but there are two 1.2.3 breaks on it right now.
so if I did trade this pair.. which I don't
I would look to go short.
I hope that helps
cheers
Teb
- #649
- Dec 5, 2008 5:10am Dec 5, 2008 5:10am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
target 1 hit
that is all for me with NFP coming
this is the big push up to have a big drop when NFP comes out
cheers
TEB
that is all for me with NFP coming
this is the big push up to have a big drop when NFP comes out
cheers
TEB
- #650
- Edited 5:52am Dec 5, 2008 5:16am | Edited 5:52am
target 1 hit
that is all for me with NFP coming
this is the big push up to have a big drop when NFP comes out
Attachment
cheers
TEB
Solved: Non-farm Payroll
Trading: the skill of avoiding trades
- #651
- Edited 11:31am Dec 5, 2008 10:53am | Edited 11:31am
- | Joined Dec 2008 | Status: Trader | 109 Posts
TEB: The CHFJPY on the 4HR was BELOW the ema, on the 1HR it was also BELOW, so I waited for it to spike above on the 15mins and got in short at 76.64......currently at +140Pips (see attached untitled.jpg)
I know that sitting on +140 aint bad at all, but is this the correct way ? Or was it just a lucky trade ?
..:aniel::..
I know that sitting on +140 aint bad at all, but is this the correct way ? Or was it just a lucky trade ?
..:
aniel::..
Life is not always easy: stopped out!
Taking the same currency pair (USDJPY): The 1HR is below the ema, the 15mins is below the 5min ema has just broke the ema. SO, would it be correct in now waiting for it to return back to continue the downward trend ? Personally putting a sell stop order at 92.30, stop loss at 92.75 (above the key support level) and target profit at 91.55. Would this make sense?
..:: Daniel ::..
Sorry to read that eswap.
Taking the same currency pair (USDJPY): The 1HR is below the ema, the 15mins is below the 5min ema has just broke the ema. SO, would it be correct in now waiting for it to return back to continue the downward trend ? Personally putting a sell stop order at 92.30, stop loss at 92.75 (above the key support level) and target profit at 91.55. Would this make sense?
..:: Daniel ::..
By the way, it is already over 93.40
Trading: the skill of avoiding trades
- #655
- Dec 5, 2008 2:57pm Dec 5, 2008 2:57pm
- Joined Jan 2007 | Status: Trader | 5,864 Posts
In any case I would wait for a 123 pattern. 92.3 seems to me very low actually wilth your 5 min chart.
By the way, it is already over 93.40
or a breaking or bounce off a pattern
but you need something with price action
Cheers
TEB
yes the 1.2.3 is the key or a bounce off the S/R works too
or a breaking or bounce off a pattern
but you need something with price action
Cheers
TEB
1) Either a bouce off a key support level and wait for a 1.2.3 pattern (this is waiting for a counter trend right) ?
2) Using the 200EMAs (for e.g. daily is above, 4hr is also above, and if 1hr breaks below, you wait for it to resume back into the trend)?
Is this correct sir?
Have a great weekend everyone!
..:: Daniel ::..
- #659
- Dec 6, 2008 5:22am Dec 6, 2008 5:22am
- Joined Jan 2007 | Status: Trader | 5,864 Posts
Hi teb,
I notice you have more than just the 200ema, care to explain what the other emas are for? Thanks
And another issue, I am still unsure how to know whether to trade or not. When the 15min is broken, and there is a 123 break but the counter trend remains and even the 1h becomes broken. What do you do then? And how to filter out such trades. Thanks
the 50 ema on the 4 is basically the 200 ema on the 1 hour
& the 50 ema on the 1 hour is basical the 200 ema on the 15 min
so one chart can do two times frame
- easier for screening for trades - one chart is all you need
cheers
teb
