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A,B,C,D - 1,2,3,4 System

  • #1,161
  • Dec 11, 2008 2:39am Dec 11, 2008 2:39am
Quoting soyabean
Hmm, possible but watch the bullish up TL.
Hi Soya, do you mean the yellow bullish TL?
  • #1,162
  • Dec 11, 2008 3:10am Dec 11, 2008 3:10am
Quoting tex123
I have a buy on the aud/cad and we have a fairly strong resistance above.I'll place a sell limit around the 8340 where i will take 1/2 half my risk off there and leave a small portion running.The reason for this trade bullish candle 61.8 and trendlines connecting.3 postions total.Anyway will see how it goes. You all have a good weekend.
Hi Tex123:

Thanks for posting information on the trade that you took. Will you please post your chart.

I keep looking at my chart and do not see anything that you mentioned. What timeframe are you talking about?

I just want to compare charts so that I can see what I have missing on mine.

Thanks.
  • #1,163
  • Dec 11, 2008 4:51am Dec 11, 2008 4:51am
Quoting wltien
Hi Soya, do you mean the yellow bullish TL?
Yep, and the whole movement looks like one big consolidation phase to me.

Area in rectangle looks better, but it is risky and should take profits early.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 15 KB
Click to Enlarge Name: eurcad2.gif Size: 19 KB
  • #1,164
  • Dec 11, 2008 4:59am Dec 11, 2008 4:59am
Quote
Yep, and the whole movement looks like one big consolidation phase to me.

Area in rectangle looks better, but it is risky and should take profits early.

Honestly, the Price Action is not clear across board, but what i notice is this, we have reached the profit targets of most of these pair in their current trend, daily TF looks nasty and clumsy..............

But i see light at the end of the tunnel, stay out till the light is obvious and we can trade profitably....................

we might get major trend pull back, as we see various Price Action saying these, but lets keep all finger crossed and watch.

so?

STAY OUT TILL THE COAST IS CLEAR!
  • #1,165
  • Dec 11, 2008 5:20am Dec 11, 2008 5:20am
Quoting Naijafx
Honestly, the Price Action is not clear across board, but what i notice is this, we have reached the profit targets of most of these pair in their current trend, daily TF looks nasty and clumsy..............

But i see light at the end of the tunnel, stay out till the light is obvious and we can trade profitably....................

we might get major trend pull back, as we see various Price Action saying these, but lets keep all finger crossed and watch.

so?

STAY OUT TILL THE COAST IS CLEAR!
Agreed. Would love to get Dra's opinion too.
  • #1,166
  • Dec 11, 2008 7:55am Dec 11, 2008 7:55am
The blue area looks like a potential area for a good probability trade.

I believe most of the yen pairs short trades have been moving nicely this week, hope you guys rode on some.

I also took a new trade on CHFJPY. Good bearish engulfing formation.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 18 KB
Click to Enlarge Name: chfjpy.gif Size: 18 KB
  • #1,167
  • Dec 11, 2008 8:42am Dec 11, 2008 8:42am
will watch that pair
  • #1,168
  • Dec 11, 2008 9:10am Dec 11, 2008 9:10am
Quoting soyabean
Dra, any opinion?
Umm..i'm not Dra, but i did take that trade as per rules (after engulfing bearish/evening star was made). The first two days it gave me big red pips up to -200, but i did have believe on this system, and after some days, now it's up 220 pips. I was risking 500 pips at that time, but now i'm locking 100 pips profit, aiming for about 300 pips. I know that it isnt a good R:R, but i'm afraid that it cant reach at least 1:1 R/R, so i put the TP a little above last swing low on daily chart, and it gave me about 300 TP.

As for this day, i opened two position. The first is a long trade at EURGBP. Not a perfect Dra setup, but i do have believe on the tweezer top it made and how the trendline was respected. It had been closed after about 4 hour trade with 120 pips, TP exactly was on 0.9 as it is a psychological S/R.

The second is a short trade at USDCFH. We can see that price clearly broke the green uptrend line and came back to retest it. It also retested the blue downtrend line, making fibo confluence, and a engulfing bearish on 1H. I set the TP at 1.1845, a little above the prominent S/R. It's +120 now.

Sorry for this long post. Havent been able to post last days because i was busy in college.

Happy pipping..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurgbp_h4.gif Size: 14 KB
Click to Enlarge Name: usdchf_h1.gif Size: 17 KB
  • #1,169
  • Dec 11, 2008 9:16am Dec 11, 2008 9:16am
What do the veterans have to say on these. Is this a valid set up?

I know market is crazy, pairs are consolidating, bla bla bla........
but basically, will this be considered a good set up?
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 12 KB
God's Love For You Is Sure Never You Doubt It
  • #1,170
  • Dec 11, 2008 9:19am Dec 11, 2008 9:19am
Really like those 2 trades you took, I am in USDCHF too but I entered using the daily chart since last week.

EURGBP was a trade I thought was possible but did not take because it didnt look like the wave has made a good retrace.

Nice!
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 18 KB
  • #1,171
  • Dec 11, 2008 9:25am Dec 11, 2008 9:25am
Hi soya,

Good trades Soya..Congratz.. Yeah, EURGBP didnt made a good fibo retracement, but i zoomed in 1H, saw triple tweezer candles that made a support line, confirmed by tweezer too on H4, so i was in with little risk.

I'm never holding a trade more than a week, so when i took USDCAD trade, i was nervous, especially having two first day with huge red pips. But eventually now it has turned into huge green pips.

Have a nice trading week Soya,
Happy pipping..
  • #1,172
  • Dec 11, 2008 9:25am Dec 11, 2008 9:25am
Quoting D liberators
What do the veterans have to say on these. Is this a valid set up?

I know market is crazy, pairs are consolidating, bla bla bla........
but basically, will this be considered a good set up?
Hi,

I don't have the same datafeed as your chart but I have been in this trade since start of the week, the chart was posted about a page back. I am posting it again, the entry was at the bearish engulfing pattern earlier. Also, it would be better if you could show the anchor points of your trendline so it can help us to understand whether it has been drawn correctly.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy.gif Size: 18 KB
  • #1,173
  • Dec 11, 2008 9:36am Dec 11, 2008 9:36am
Quoting tanyasiapa
Hi soya,

Good trades Soya..Congratz.. Yeah, EURGBP didnt made a good fibo retracement, but i zoomed in 1H, saw triple tweezer candles that made a support line, confirmed by tweezer too on H4, so i was in with little risk.

I'm never holding a trade more than a week, so when i took USDCAD trade, i was nervous, especially having two first day with huge red pips. But eventually now it has turned into huge green pips.

Have a nice trading week Soya,
Happy pipping..
Yup, thanks alot, it has been a good week =) Hope next week will be good for all of us too!

And I must say it really feels good to see how well you are doing now. It was only a couple of weeks ago when you were still figuring out how this wonderful method works and cultivating the confidence and belief. As long as we manage our trades risk and take the fear away, we should be able to benefit from the edge this method gives us in beating the odds.
  • #1,174
  • Dec 11, 2008 11:54am Dec 11, 2008 11:54am
Quoting soyabean
Hi,

I don't have the same datafeed as your chart but I have been in this trade since start of the week, the chart was posted about a page back. I am posting it again, the entry was at the bearish engulfing pattern earlier. Also, it would be better if you could show the anchor points of your trendline so it can help us to understand whether it has been drawn correctly.

Cheers.
Hello Soya,

hope its big enough to see, had to narrow down chart to the tl anchor
Attached Image (click to enlarge)
Click to Enlarge Name: gj 2.gif Size: 17 KB
God's Love For You Is Sure Never You Doubt It
  • #1,175
  • Dec 11, 2008 7:48pm Dec 11, 2008 7:48pm
Quoting soyabean
Yep, and the whole movement looks like one big consolidation phase to me.

Area in rectangle looks better, but it is risky and should take profits early.
Thanks Soya, no clearer........
  • #1,176
  • Dec 11, 2008 7:49pm Dec 11, 2008 7:49pm
Quoting tanyasiapa
Hi soya,

Good trades Soya..Congratz.. Yeah, EURGBP didnt made a good fibo retracement, but i zoomed in 1H, saw triple tweezer candles that made a support line, confirmed by tweezer too on H4, so i was in with little risk.

I'm never holding a trade more than a week, so when i took USDCAD trade, i was nervous, especially having two first day with huge red pips. But eventually now it has turned into huge green pips.

Have a nice trading week Soya,
Happy pipping..
Good trade, Tanya......
  • #1,177
  • Dec 11, 2008 7:50pm Dec 11, 2008 7:50pm
Quoting soyabean
Hi,

I don't have the same datafeed as your chart but I have been in this trade since start of the week, the chart was posted about a page back. I am posting it again, the entry was at the bearish engulfing pattern earlier. Also, it would be better if you could show the anchor points of your trendline so it can help us to understand whether it has been drawn correctly.

Cheers.
Hi Soya, what is the purpose of white line? Not understand.....
  • #1,178
  • Dec 11, 2008 7:51pm Dec 11, 2008 7:51pm
Quoting soyabean
Yup, thanks alot, it has been a good week =) Hope next week will be good for all of us too!

And I must say it really feels good to see how well you are doing now. It was only a couple of weeks ago when you were still figuring out how this wonderful method works and cultivating the confidence and belief. As long as we manage our trades risk and take the fear away, we should be able to benefit from the edge this method gives us in beating the odds.
Yeah, Tanya learning spirit is amazing!

I still a lot more to catch up!
  • #1,179
  • Dec 11, 2008 8:41pm Dec 11, 2008 8:41pm
Hi Everyone:

Just adding my congratulations to everyone in this thread, but especially to all those with the fantastic results this week.

Thanks again for posting the charts with explanations so that us new guys can analyze and cut our learning time even shorter.

I have learned a lot by placing trades this week. I look forward to another wonderful week next week.

Congratulations to Soyabean and Tanya on the many winning trades, well done !!

Thanks to everyone that share their knowledge and experience with us.
  • #1,180
  • Dec 11, 2008 10:48pm Dec 11, 2008 10:48pm
Quoting wltien
Hi Soya, what is the purpose of white line? Not understand.....
Hi, its a potential area of support turning resistance.
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