you are in the right direction LVG....
me too..... i'm follow the direction since friday ....
brgds,
my30marahaba
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #16,341
- Dec 8, 2008 2:15am Dec 8, 2008 2:15am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
- #16,342
- Dec 8, 2008 2:17am Dec 8, 2008 2:17am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
The only trades i took are the Gu long, which was off the daily Pb (also an IB) with the distinguishing factor being the spce avaiable for the trade to survive in.
The fact that we're going against such a dominant downtrend convinced me to stay away from longer term trades, I'll be happy if we hit this the resistance trend line, if we do i am getting out with a net gain of 250 pips roughly. the Grey area mentioned on the chart is where i took half the profit and left the rest riding on a free trade.
The fact that we're going against such a dominant downtrend convinced me to stay away from longer term trades, I'll be happy if we hit this the resistance trend line, if we do i am getting out with a net gain of 250 pips roughly. the Grey area mentioned on the chart is where i took half the profit and left the rest riding on a free trade.
I believe . . .
- #16,343
- Dec 8, 2008 2:23am Dec 8, 2008 2:23am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
The only trades i took are the Gu long, which was off the daily Pb (also an IB) with the distinguishing factor being the spce avaiable for the trade to survive in.
The fact that we're going against such a dominant downtrend convinced me to stay away from longer term trades, I'll be happy if we hit this the resistance trend line, if we do i am getting out with a net gain of 250 pips roughly. the Grey area mentioned on the chart is where i took half the profit and left the rest riding on a free trade.
That IB is also a I4B. (How did I miss that
.)
Indicators show the past. Price Action "Indicates" the future.
LOL, NO, I keep looking for a resistance level to short the pairs I've been looking in the wrong direction. I forgot the trend is my friend, I've been ignoring him.
monthly pivot and weekly pivot is the major support now so just follow the trend of the pa until the pa stop
& find the resistance line.....
brgds,
my30marahaba
- #16,345
- Dec 8, 2008 2:26am Dec 8, 2008 2:26am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Did'nt go for the Usd/Cad short Jarroo, for me the support trendline on the daily tf was just too close to play the break of the pin confidently,
Great going anyways, the dollar's being dumped
Indicators show the past. Price Action "Indicates" the future.
- #16,346
- Dec 8, 2008 2:26am Dec 8, 2008 2:26am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
The other trade was the Nzd/usd long of the break of the daily pin. now this was in a nice situation where the pin high was resting just at the resistance trend line. Fortunately this weeks open was above the trend line leaving it broken but what was even better that the vlsoing of the gap was also the pullback I and many of us want when we see the break of a terbdline and want to trade it.
The best thing i could do was to go down on the 4H and look for PA. and Bingo!!!! a bearish candle then a Pb right at the trendline, my signal to go long and which i followed, was only 5 pips late though,
PS also notice the Grey shaded region on the daily chart, consistent tails to the north...all of this just adds on to give weight to the trade
The best thing i could do was to go down on the 4H and look for PA. and Bingo!!!! a bearish candle then a Pb right at the trendline, my signal to go long and which i followed, was only 5 pips late though,
PS also notice the Grey shaded region on the daily chart, consistent tails to the north...all of this just adds on to give weight to the trade
I believe . . .
- #16,347
- Dec 8, 2008 2:30am Dec 8, 2008 2:30am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
The other trade was the Nzd/usd long of the break of the daily pin. now this was in a nice situation where the pin high was resting just at the resistance trend line. Fortunately this weeks open was above the trend line leaving it broken but what was even better that the vlsoing of the gap was also the pullback I and many of us want when we see the break of a terbdline and want to trade it.
The best thing i could do was to go down on the 4H and look for PA. and Bingo!!!! a bearish candle then a Pb right at the trendline, my signal to go long...
5 pips late . . .
Indicators show the past. Price Action "Indicates" the future.
- #16,348
- Dec 8, 2008 2:30am Dec 8, 2008 2:30am
- Joined Nov 2007 | Status: Conscious Incompetence | 3,274 Posts
Dear LVG,
monthly pivot and weekly pivot is the major support now so just follow the trend of the pa until the pa stop
& find the resistance line.....
brgds,
my30marahaba
USD/CAD still going... Look at TP1 around the 1.2479 area
Don't wish it were easier, wish you were better. ~ Jim Rohn
- #16,350
- Dec 8, 2008 2:34am Dec 8, 2008 2:34am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
The other trade was the Nzd/usd long of the break of the daily pin. now this was in a nice situation where the pin high was resting just at the resistance trend line. Fortunately this weeks open was above the trend line leaving it broken but what was even better that the vlsoing of the gap was also the pullback I and many of us want when we see the break of a terbdline and want to trade it.
The best thing i could do was to go down on the 4H and look for PA. and Bingo!!!! a bearish candle then a Pb right at the trendline, my signal to go long...
The whole point is profit and loss is all part of the game and even though I am happy I know I can't get carried away, the rules have to be followed. So waht if the dollar is being drained like waste the fact is it's all countertrend, I am still not convinced that the overall trends have bottomed for a reversal,
Needless to say whatever the outcome of my present trades, I'll be anxiosuly waiting to get back to "with the trend" stuff
Regards,
Ghous.
I believe . . .
- #16,351
- Dec 8, 2008 2:37am Dec 8, 2008 2:37am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Here is a trade which 5 minutes ago was a pending order on the Eur/Gbp. To me a pair not often discussed here but which is on an all time great location, at the peak of a swing high! A real top! AN IB with divergence just puts the icing on the cake.
I was planning to hold this over the coming days but again being CT i'll have to watch this carefully,
Falling James advice I enetred only below the 0.86 level which may just have been the key.
Regards,
Ghous.
I was planning to hold this over the coming days but again being CT i'll have to watch this carefully,
Falling James advice I enetred only below the 0.86 level which may just have been the key.
Regards,
Ghous.
I believe . . .
- #16,352
- Dec 8, 2008 2:39am Dec 8, 2008 2:39am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
How I wish I could take these trades further, the week truly has been of to blasting start
The whole point is profit and loss is all part of the game and even though I am happy I know I can't get carried away, the rules have to be followed. So waht if the dollar is being drained like waste the fact is it's all countertrend, I am still not convinced that the overall trends have bottomed for a reversal,
Needless to say whatever the outcome of my present trades, I'll be anxiosuly waiting to get back to "with the trend" stuff
Regards,
Ghous....
Just take some off the table at area the make sense and place the stop losses the same way.
Nice work brother.
Indicators show the past. Price Action "Indicates" the future.
- #16,353
- Dec 8, 2008 2:47am Dec 8, 2008 2:47am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #16,354
- Dec 8, 2008 3:08am Dec 8, 2008 3:08am
Here is a trade which 5 minutes ago was a pending order on the Eur/Gbp. To me a pair not often discussed here but which is on an all time great location, at the peak of a swing high! A real top! AN IB with divergence just puts the icing on the cake.
I was planning to hold this over the coming days but again being CT i'll have to watch this carefully,
Falling James advice I enetred only below the 0.86 level which may just have been the key.
Regards,
Ghous.
I'm in this with you but missed the daily setup initially. The 4hr tf bought my attention to it - DBHLC off S/R - bit sideways I know but then went upto the daily to see what was going on and saw your IB. Still not confident on the IB's but combined with the 4hr setup, i gave it a go.
hope u had a good w/e
Simon
- #16,355
- Edited 3:42am Dec 8, 2008 3:30am | Edited 3:42am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
- #16,357
- Dec 8, 2008 4:09am Dec 8, 2008 4:09am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
Hey ghous
I'm in this with you but missed the daily setup initially. The 4hr tf bought my attention to it - DBHLC off S/R - bit sideways I know but then went upto the daily to see what was going on and saw your IB. Still not confident on the IB's but combined with the 4hr setup, i gave it a go.
hope u had a good w/e
Simon
ABt IBs if you don't feel confident trading them at locations such as these i don't know if you ever will trade them atall! These are times you need to feel their power! I was like you a few months back, infact i was only trading the Pbs and nothing else, i now know i have some equally good tools in my trading tool box to take care of my pips
Regards,
Ghous.
I believe . . .
- #16,358
- Dec 8, 2008 4:11am Dec 8, 2008 4:11am
- Joined Jan 2008 | Status: <<--(-$-)-->> | 5,571 Posts
I believe . . .
- #16,359
- Dec 8, 2008 4:11am Dec 8, 2008 4:11am
- Joined Sep 2005 | Status: J16 Senior Member | 13,635 Posts
Indicators show the past. Price Action "Indicates" the future.
