My trades by Dave

Sorry, I missed that you were still in.

The 2152 pivot is the 62% fib of the move from Thursday 2190 high to Friday 2093 low. FYI

Lou

I am waching the current rally that has found resistance at 1.2152 pivot.

Momentom looks to be stalling on the RSI.

Will exit if next attempt falls short of the last.

Dave

exited at 1.2141 + 30 pips


A head and shoulders formed and I exited at the topof the 3rd failer.


Dave

Hi Dave
Your graphs with the black back are difficult to follow, it is better if you post them in white back.
Thank you
bea

Nice exit on the last trade. Last poke higher befor its current fall.

This fall I am calling wave c of 2. This should complete wave 2 at the bottom trend line. It looks to be targeting 1.2015/25 range.
If I am correct then the next wave up will be 3 and is usually the longest wave. I hope to enter as close to the bottom of this wave as I can.

Dave

entry order: long at 1.2030
s/l: 1.1965
target: 1.2250 1st 1.2300 2nd

It is very frustrating to be gone when all the action happens. I saw the move down from last night when I looked at the charts prior to 7 am my time which is 8 am NY. But the price was hitting a fib line on the 4 hr and I didnt want/have time to do anything but look at it.

Now I am home and missed another one...

DRAT

Lou

If I can determine the trend maybe I can catch an upswing.

Naa Lou you missed nothin.

remember this is an up trend. I wouldn't trade short.

The entry point for next trade is posted above @ 1.2030. Lower if you can.
Its taking time to unfold but when it hits the 1.2015/25 range it will liven up I think. I still expect it to get down there sooner or later. I would hate to enter a long here.

Dave

David

You may like to make an announcement in your thread talking about your new forum in the Daily FX forum site that it is now up and running and this is where it is. I believe you mentioned in there that you would let everyone know when it is done, but I don't think you have actually posted anything of the likes.

Cheers

Tony

Ok thanks.

Entry made.

Dave

Well this move down wasn't totaly unexpected.Thats the reason for the large s/l.
I am hoping this is the extent of the down side. The 4 hr chart shows stochs over sold and curving up.
RSI is about to test the 40 line. It is that test of the 40 line that will make or break my trade. If the RSI drops below that 40 line than my s/l will get hit.
I entered the trade where I did because I am at work and cann't moniter the market. I am very tempted to pt now.
We are in wave 4 of wave c of wave 2. If the final wave 5 breaks below the current low then the trend is back to bearish and 1.1900 is targeted again.

Dave

I just pulled trade

-45 pips

I just wached the usd/jpy break above resistance. That could encourage USD bids, along with the break below 1.2000 will encourage EUR offers.
Based on that I am not risking the other 25 pips that my s/l would have covered.

I think thats the first trade I have posted here that was in the negative.

215- 45=170 pips for 10 days.

Dave

Dave,

could you put the numbers on the charts again (1,2,3,a,b,c, etc). Can't quite follow at the moment.

Thanx
Habeeb

Next chart I'll number.

I don't know what the market is doing. Each stab down gets lower and lower. The price of oil just went up 1.73 a barrel. So USD should fall.
But maybe not since the break of 1.2000 has alot of people looking at 1.1900 and lower again now.

Dave

Here is the 1 hr chart numbered.

I still think it should go up. Stochs are on an incline. RSI doesn't go lower with price. These 2 things are called negitive divergance. This is supposed to signal a reversal is near.
I don't know yet I still cann't feel it yet. I am at my exit point so I could renter with only 3-5 pips difference. BUT........Am I being hard headed or not I don't know yet.

1 thing I do feel is a signifcant move is near. But near could be tomarow.

Daily pivot point is 1.2011 thats not far out of reach. Next daily support is at 1.1952.

Dave

HeLLO DAVE,

HERE IS A CHART OF THE USD AGAINST THE WORLD'S MAJOR CURRENCIES. IT SHOWS WHEN THE USD IS BEING BOUGHT OR SOLD. COULD YOU DRAW YOUR WAVE SYSTEM AND OTHER LINES SYSTEM ON IT AND GIVE US A POSSIBLE OUTLOOK OF THE IMMINENT MOVES. I HAVE BEEN REFERING TO THIS FOR MY TRADES. I BUY OR SELL USD AGAINST EUR,JPY AND GPB WHEN THE GRAPH HAS BEGUN A STEEP CLIMB OR DROP. IT HAS BEEN VERY ACCURATE BUT I DO NOT HAVE THESE SHARP MOVES EVERYDAY.

HIGHWAY

hello highway
where can i see this graph? do you pay for it?
best regards
bea

http://quotes.ino.com/chart/?s=NYBOT...6&w=1&t=l&a=50

Thankyou Beachie

Hey

I think you gotta pay to see a live streaming chart on this but I need this. This could help alot I'm sure.

The dollar dropped for a -33 close today. Mabe we'll se a reaction to this in early aisa session.

As far as the chart goes..... The over all trend is up. There is a double top formed there I have circled. We need a break of around 90.25 to continue the up trend and a break of that center trend line to confirm this.
If you notice when the price broke the center trend line it dropped on a retrace and then rose well above center trend line. Now the price keeps pulling back off the center trend line when it touches it. That could be a bear signal. But its still above the moving averages so it remains bullish.
Thats mixed signals.
I could count the waves befor the circled area but it does us no good right now. The part in the circle I cann't acuratly number yet. From this point here it can do anything.
Now I see why I cann't figure out whats going on with eur/usd.
The market needs to work out what its doing first. Thats why trading is light for the past 2 days.
What will happen is the next direction will be decided buy fundamentals.
I suggest waching oil prices. and gold prices. oil and gold up = dollar down.

I have made several small trades in the last 2 days and I have broke even on them so this tells me the market is undecided. When I get a few small trades hit target all in a row this tells me I got the feel for it. Then I plan a nice trade and will post it. I lost the feel when the price dropped below 1.2000. Now it could retest 1.1900 or just resume the up trend having completed wave 2. A wave 2 can retrace the full amount of wave 1 and still be with in a structure.
I stated befor that a wave C can be also a wave 1 so this being wave C of wave 2 it could drop below 1.1900 and become wave 1 of a down trend.
The price action now is the complex part of eliot wave and the part I don't understand yet. This can get into waves d,e,f,x,y,z and that makes my head spin.
US trade figures come out tomarrow so I hope this will send it in some defining direction.

Dave
Pivots...


R2=1.2109
R1=1.2065
P=1.2009
S1=1.1965
S2=1.1909

I wonder what happens most often when a day opens above or below the pivot. Yesterday it opened below and rose above. I will mark the calender each day and see if there is a pattern there.