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

  • #1,181
  • Dec 11, 2008 10:49pm Dec 11, 2008 10:49pm
Quoting forexgenius
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.
pips explosion a couple of hours ago. Many TPs hit, this has turned from a good week to a fantastic week!
  • #1,182
  • Dec 11, 2008 10:52pm Dec 11, 2008 10:52pm
Quoting D liberators
Hello Soya,

hope its big enough to see, had to narrow down chart to the tl anchor
That was a fine trendline in my opinion.
  • #1,183
  • Dec 11, 2008 10:57pm Dec 11, 2008 10:57pm
Quoting soyabean
pips explosion a couple of hours ago. Many TPs hit, this has turned from a good week to a fantastic week!
Wow，great Soya!
  • #1,184
  • Dec 11, 2008 11:01pm Dec 11, 2008 11:01pm
I had a short discussion with my dear mentor Dra last week and one of the key lessons I took away was the use of protective stops. Dra taught me to place stops with S&R in consideration so they will be "protected".

Below is a trade on CADJPY which I took earlier this week. Notice it was insufficient to place the SL just slightly above my entry of the bearish engulfing. Instead, I placed a wider SL which was protected. The result? price breathed as much as 200 pips against my position before resuming its downtrend.
Attached Image (click to enlarge)
Click to Enlarge Name: cadjpy.gif Size: 18 KB
  • #1,185
  • Dec 11, 2008 11:07pm Dec 11, 2008 11:07pm
Hi All,

The previous analysis fail and EURAUD broke Daily TL.

Update chart as follows:
Attached Image (click to enlarge)
Click to Enlarge Name: ea 1h 081212.gif Size: 18 KB
  • #1,186
  • Dec 11, 2008 11:12pm Dec 11, 2008 11:12pm
Since EURAUD broke Daily TL, I think we can wait it retrace and buy.
Attached Image (click to enlarge)
Click to Enlarge Name: ea 1h 081212a.gif Size: 18 KB
  • #1,187
  • Dec 12, 2008 3:49am Dec 12, 2008 3:49am
Hello Guys

Thanks Soya and Mike for your comments on my charts. The trade gave a 1:1 for me, woke up to see green pips (makes me happy)

Here's another pair I'm looking at for a possible short in the making- What say ye guys to this?
Attached Image (click to enlarge)
Click to Enlarge Name: aj.gif Size: 15 KB
God's Love For You Is Sure Never You Doubt It
  • #1,188
  • Dec 12, 2008 5:46am Dec 12, 2008 5:46am
Hey, the trendline is fine in my opinion but I have no comment about the trade itself.

AJ is not the best pair to trade now looking at the consolidation forming on the daily chart. Furthermore, 1H charts are too prone to whip saws to trade comfortably but thats my personal preference.

All the best to your trading! =)
  • #1,189
  • Dec 12, 2008 8:16am Dec 12, 2008 8:16am
Hi,

This is a setup from USDCAD, another opportunity to re-enter short. It's 4H chart on USDCAD, price made a retracement to the green downtrend line, making fibo 61.8 retracement, completing with engulfing bearish formation.We're gonna need to hold this trade trough the weekend tough, but let's see what it gives us next monday. I'm in this trade.

I do have funny but stupid story about trading this pair last night. Like several post earlier, i said that i took this trade based on daily engulfing bearish. I took it and then the first 2 days, it went red almost 150 pips. And then 2 next days it give me big green pips. I set the TP at 300 pips, and to safely lock my profit, i set manual trailing stop of 50 pips. So when the trade go +220 pips, i was willing to set my SL at +150, but because i was so sleepy that moment, i mistyped my SL to +200. 5 minutes later i realized my failure, but it's too late, the trade closed +200. The pair itself continued go south and will be giving me +300 if i didnt do that stupid mistake. Umm..quite disappointing because i held that trade 2 days with big red, and then i just lose 100 pips because that stupid mistake. Lesson learnt, carefully placing TP and SL, it's what making money after all

Happy pipping..
Have a nice weekend..
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_h4.gif Size: 16 KB
  • #1,190
  • Dec 12, 2008 8:19am Dec 12, 2008 8:19am
Quoting tanyasiapa
Hi,

This is a setup from USDCAD, another opportunity to re-enter short. It's 4H chart on USDCAD, price made a retracement to the green downtrend line, making fibo 61.8 retracement, completing with engulfing bearish formation.We're gonna need to hold this trade trough the weekend tough, but let's see what it gives us next monday. I'm in this trade.

I do have funny but stupid story about trading this pair last night. Like several post earlier, i said that i took this trade based on daily engulfing bearish. I took it and then the first 2 days,...
I am in this already, from the 1H chart. Actually, 50 trailing might not be sufficient for such moves to breathe. Good job anyhow! =)
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 17 KB
  • #1,191
  • Dec 12, 2008 8:49am Dec 12, 2008 8:49am
I'm trying to teach myself to draw trendlines and see opportunities for possible trades. If this last bar closes more or less as it is (another hour to go) would it be a valid signal?
Attached Image (click to enlarge)
Click to Enlarge Name: two.gif Size: 19 KB
All flesh is as grass
  • #1,192
  • Dec 12, 2008 9:37am Dec 12, 2008 9:37am
Hi Soya,

Mind if i ask you where you put Stop Loss for the last USDCAD short trade you took?Just to compare with mine, and maybe you have betther knowledge where to put SL according to S/R rule..

Thanks..
Happy pipping..
  • #1,193
  • Dec 12, 2008 9:45am Dec 12, 2008 9:45am
Hi dod,

Your uptrend line is nice. But can i get more information about the other trendline?the downtrendline? Did you draw it from a higher timeframe?

It's a nice possible setup. Good trendline, nice fibo retracement, and nice possible candle formation pattern. But you still need to wait the candle to close to confirm the pattern itself.

Another thing to consider is that i have a downtrend line that i drew from daily timeframe, and it's crossing our uptrendline and the price is looked respected the downtrend line well. So the upmove is possible but may be very difficult to break the downtrendline. My suggestion is to let the pair pass this intersection first to know where the pair is heading.

Happy pipping..
  • #1,194
  • Dec 12, 2008 9:49am Dec 12, 2008 9:49am
Quoting tanyasiapa
Hi Soya,

Mind if i ask you where you put Stop Loss for the last USDCAD short trade you took?Just to compare with mine, and maybe you have betther knowledge where to put SL according to S/R rule..

Thanks..
Happy pipping..
SL@ 1.25209
  • #1,195
  • Dec 12, 2008 10:05am Dec 12, 2008 10:05am
Hi soya,

Mine is on 1.2525, quite the same. Thanks for it,appreciate it. Have a nice weekend soya, great week for us all here..

Happy pipping everyone..
Have a nice weekend too..
  • #1,196
  • Dec 12, 2008 10:36am Dec 12, 2008 10:36am
Hello Tanya,

The downtrend line was coming from a daily high at the end of October. Here's a daily chart of it. The entry set up failed (I think) by the time the 4hr bar closed; but it was the trendline question that really interested me.

Which daily downtrend line are you talking about which hasn't been broken?
Attached Image (click to enlarge)
Click to Enlarge Name: two.gif Size: 16 KB
All flesh is as grass
  • #1,197
  • Dec 12, 2008 2:01pm Dec 12, 2008 2:01pm
I'm very pleased to see that you guys had a great week.Keep up the good work. Also i would like to welcome all the newbies to the thread and the system, with the proper dedication to learn you guys will be doing well sooner than later.
Enjoy the weekend all.
  • #1,198
  • Dec 12, 2008 2:12pm Dec 12, 2008 2:12pm
Quoting dod
Hello Tanya,

The downtrend line was coming from a daily high at the end of October. Here's a daily chart of it. The entry set up failed (I think) by the time the 4hr bar closed; but it was the trendline question that really interested me.

Which daily downtrend line are you talking about which hasn't been broken?
GU is in what i'll call a death zone. trapped in btw. TL's and its been ranging btw them all day-monthly, daily, 4hr and 1hr TL.... what a mesh!!!!!!

Nice pips would have been made scalping this pair using the TL's as S/R levels, otherwise i dont see anything attractive here and like Tanya suggested, i'll advise to leave the pair let it sort itself and dance its way out of the TL's entaglement to give a clear direction.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 15 KB
God's Love For You Is Sure Never You Doubt It
  • #1,199
  • Dec 12, 2008 7:37pm Dec 12, 2008 7:37pm
Hi dod,

Sorry for taking long time to post, have been slept at that moment. Yeah, what D liberator said is quite representing what i mean. But here i attached the chart from 4H and daily. The yellow downtrend line is from daily. We can see that the price just go up and down between the yellow and blue trendline. Maybe next week will give us clearer direction.

By the way, where can we see live quote at the weekend?

Have a nice weekend..
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpusd_h4.gif Size: 16 KB
Click to Enlarge Name: gbpusd_daily.gif Size: 13 KB
  • #1,200
  • Dec 13, 2008 8:52am Dec 13, 2008 8:52am
Quoting D liberators
GU is in what i'll call a death zone. trapped in btw. TL's and its been ranging btw them all day-monthly, daily, 4hr and 1hr TL.... what a mesh!!!!!!

Nice pips would have been made scalping this pair using the TL's as S/R levels, otherwise i dont see anything attractive here and like Tanya suggested, i'll advise to leave the pair let it sort itself and dance its way out of the TL's entaglement to give a clear direction.
Hello D:

Thanks for posting the chart of GU.

I feel great because I had come to that same conclusion about the pair and so decided to leave it alone to sort itself out.

It is just good to see that my charts are matching those of the veterans more frequently and that the analysis part is also kicking in.

Sorry that I have been quiet, but I was busy making some pips myself.

Thanks again to everyone for all the postings, they are of great help.

Soya and Hoedha(Tanya), I will be expecting my overnight mail with my bonus check from all those winnings--congratulations.
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