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  • #55,721
  • Jan 12, 2009 6:13am Jan 12, 2009 6:13am
Quoting TIckerShuffl
What curve you talking about? The swiss buying?
There was a nice downward curve developing on the 5m usdchf. It no longer is a curve, but a v heading downwards
  • #55,722
  • Jan 12, 2009 6:25am Jan 12, 2009 6:25am
Quoting gregam1128
There was a nice downward curve developing on the 5m usdchf. It no longer is a curve, but a v heading downwards
Nice observation. Looks like it's more a factor than commodity prices.
  • #55,723
  • Jan 12, 2009 6:29am Jan 12, 2009 6:29am
Quoting TIckerShuffl
Nice observation. Looks like it's more a factor than commodity prices.
Just initiated a hedge for the first time in my 3 1/2 years of trading, and Going to trade N.Y session. Something that I really don't like too much.
  • #55,724
  • Jan 12, 2009 6:30am Jan 12, 2009 6:30am
i see strong support touched twice at 1.3310, which is 61.3 fibo level of big wave up. MACD + RSI shows up signals at 1H chart. I am 90% sure it's going up.
  • #55,725
  • Jan 12, 2009 6:35am Jan 12, 2009 6:35am
I wonder for how long you guys try to hold your positions.
Since I trade the daily i'm interessted in what might happen in the next 4-8 hours so the H4 is the smallest timeframe where I look for possible reversal price action. Right now I see it going up too with the pinbar. If the current bar closes above 1.3440 it
adds confirmation to this move.
  • #55,726
  • Jan 12, 2009 6:39am Jan 12, 2009 6:39am
Quoting Tjpld
I wonder for how long you guys try to hold your positions.
Since I trade the daily i'm interessted in what might happen in the next 4-8 hours so the H4 is the smallest timeframe where I look for possible reversal price action. Right now I see it going up too with the pinbar. If the current bar closes above 1.3440 it
adds confirmation to this move.
as long as I am holding the direction of the weekly trend. I'm tryin some new things here with some minis. lost a few hundred last week shorting with a sl that was too short. reentered and made it back, and was stopped tonight using a 100 pip trailer. today's plan is to ride the move up temporarily for I beleive this is a small retracement of the weekly short trend.
  • #55,727
  • Jan 12, 2009 6:50am Jan 12, 2009 6:50am
Quoting gregam1128
Today's plan is to ride the move up temporarily for I beleive this is a small retracement of the weekly short trend.
That might be a good plan. I have always warned of new shorts (last monday) near the 1.33 level there is tons of support there if you look at the daily chart.
  • #55,728
  • Jan 12, 2009 6:55am Jan 12, 2009 6:55am
Quoting Tjpld
That might be a good plan. I have always warned of new shorts (last monday) near the 1.33 level there is tons of support there if you look at the daily chart.
I'll see how this hedge plays out. So far not so good. I want to ride the hedge up, close the long, and accept the drawdown on the way back. But it's going the wrong way.
  • #55,729
  • Edited 7:34am Jan 12, 2009 7:06am | Edited 7:34am
anyways closed hedges against the trend. (my def of trend is weekly) 5 min bars volume looks a little too convincing too me. on the usdchf

Just to clarify, I try all of my experiments on live account. I have found that the demo's do not accurately reflect the same thing as live. slippage, spreads, bars, so on. Or at least on my broker they don't. (IBFX)

Kept the orders that followed the weekly trends on both charts. (USDCHF, EU)
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  • #55,730
  • Jan 12, 2009 7:32am Jan 12, 2009 7:32am
If you are longer term trader I see some Pivots:
EUR/USD ..... 1.3297
USD/CHF ..... 1.1281
USD/CAD ..... 1.2083
USD/JPY ..... 89.11
AUD/USD ..... 0.6837

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.
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  • #55,731
  • Jan 12, 2009 7:36am Jan 12, 2009 7:36am
Quoting Algirdas
If you are longer term trader I see some Pivots:
EUR/USD ..... 1.3297
USD/CHF ..... 1.1281
USD/CAD ..... 1.2083
USD/JPY ..... 89.11
AUD/USD ..... 0.6837

In a few words, pivot point is a level in which the sentiment of traders and investors changes from bull to bear or vice versa.
Algirdas. Will look into it.
  • #55,732
  • Jan 12, 2009 7:43am Jan 12, 2009 7:43am
60 pip retrace, that's a decent trade for a visionary; too bad I sat here on my hands.
  • #55,733
  • Jan 12, 2009 7:48am Jan 12, 2009 7:48am
Quoting TIckerShuffl
60 pip retrace, that's a decent trade for a visionary; too bad I sat here on my hands.
You may not have gotten it, but you sure didn't loose anything either.http://www.forexfactory.com/images/icons/icon7.gif
  • #55,734
  • Jan 12, 2009 7:53am Jan 12, 2009 7:53am
Quoting gregam1128
You may not have gotten it, but you sure didn't loose anything either.http://www.forexfactory.com/images/icons/icon7.gif
I am just sitting in my longs...wondering if this will shape up to be the turning point for a substaintial turn northward for 2009. Would love to get into a situation where I can add on the way up through the year.
  • #55,735
  • Jan 12, 2009 7:54am Jan 12, 2009 7:54am
Quoting gregam1128
anyways closed hedges against the trend. (my def of trend is weekly) 5 min bars volume looks a little too convincing too me. on the usdchf

Just to clarify, I try all of my experiments on live account. I have found that the demo's do not accurately reflect the same thing as live. slippage, spreads, bars, so on. Or at least on my broker they don't. (IBFX)

Kept the orders that followed the weekly trends on both charts. (USDCHF, EU)
Can you please tell what are the blue and the red lines?
/ ... clarifying decisions ... /
  • #55,736
  • Jan 12, 2009 7:56am Jan 12, 2009 7:56am
Quoting walb99
Can you please tell what are the blue and the red lines?
for confirmation. Lagging indicators
My mistake, simple moving averages
  • #55,737
  • Jan 12, 2009 7:57am Jan 12, 2009 7:57am
Quoting TIckerShuffl
I am just sitting in my longs...wondering if this will shape up to be the turning point for a substaintial turn northward for 2009. Would love to get into a situation where I can add on the way up through the year.
I just set another hedge.
  • #55,738
  • Jan 12, 2009 8:04am Jan 12, 2009 8:04am
DON'T hedge. You will only end up like these two guys.

http://www.forexfactory.com/showthread.php?t=119717
http://www.forexfactory.com/showthread.php?t=133137

Read it all. Their ignorance is what makes the threads so funny.
Everyone told them to close the positions but they didn't want to in the end he blew up 10k.
  • #55,739
  • Jan 12, 2009 8:11am Jan 12, 2009 8:11am
Quoting Tjpld
DON'T hedge. You will only end up like these two guys.

http://www.forexfactory.com/showthread.php?t=119717
http://www.forexfactory.com/showthread.php?t=133137

Read it all. Their ignorance is what makes the threads so funny.
Everyone told them to close the positions but they didn't want to in the end he blew up 10k.
Trust me I didn't hold those hedges long. Just experimenting with it. Seems to work well if you initiate the opposing hedge while still in profit.
  • #55,740
  • Jan 12, 2009 8:15am Jan 12, 2009 8:15am
Quoting gregam1128
Trust me I didn't hold those hedges long. Just experimenting with it. Seems to work well if you initiate the opposing hedge while still in profit.
You should note that opposing hedge is exactly the same as closing the position. Depending on your broker it might actually be worse.

I hope you have read this thread
http://www.forexfactory.com/showthread.php?t=68598
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