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Simple EMA/Trendlines Strategy

  • #61
  • Feb 9, 2009 3:16pm Feb 9, 2009 3:16pm
Thank you JK$$$. Please continue.
  • #62
  • Edited 9:54pm Feb 9, 2009 8:03pm | Edited 9:54pm
This is a nice, refreshing thread. I hope you continue posting. I have suspected other threads of post-game, retrofitting the technical analysis and looking like geniuses. You are obviously NOT analyzing past data, but really analyzing and predicting price action. I appreciate your wisdom. I predict this thread will become more and more popular, but it will take time.

Jim
  • #63
  • Feb 11, 2009 2:28pm Feb 11, 2009 2:28pm
Hi traders sorry for not posting any charts the past couple of days, but i had some personal things taking my attention and time away....

thank you Rodrigo and ftraderx for your kind words i ll try to do my best!!

back to trading again

Last nite we had a great long signal at the 1hr chart i hope some u took advantage of it and make some pips !!!

lets take a look at the daily chart XAU/USD : it broke our major trend line or the acceding triangle, and if you see inside we draw another triangle that has been broken as well...
it follows our trend UP so we are looking for long trades for at least couple of days !!
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  • #64
  • Feb 11, 2009 2:44pm Feb 11, 2009 2:44pm
thats our 1hr chart the first formation is the last nites great buy trading opportunity ...since i didnt post any trades for this one we will forget about it and move on to trades that we will trade.....

1hr chart XAU/USD : we have a pottentional formation with long opprtunity we just have to wait for the chart to give us the ok

we are contiuing on our up trend a possible retracment to 20-30 EMA is ecpected!!

wait for the Triangle to complete so we can draw more accurate trend lines!!!
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  • #65
  • Feb 11, 2009 11:20pm Feb 11, 2009 11:20pm
update XAU/USD: 1hr chart the triangle formation has been drawn now we wait for a break out to the upside somewhere in the area 941.84 and TP @ 958.50
SL @ 932.97
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  • #66
  • Edited Feb 12, 2009 12:08am Feb 11, 2009 11:52pm | Edited Feb 12, 2009 12:08am
potential trade on cable: daily trend is down as well as the hourly trend and we got a great descending triangle formationon the 1hr chart

open short in the area around 1.4325 - 1.4312

TP @ 1.4270
SL @ 1.4447
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  • #67
  • Feb 12, 2009 1:38am Feb 12, 2009 1:38am
i just open a long @ 941.42

the reversal wedge has been breached!!! we just wait keep your SL tight where they should be and wait !!!

TP @ 958.50
SL @ 932.97
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  • #68
  • Feb 12, 2009 2:10am Feb 12, 2009 2:10am
Update XAU/USD long @ 941.42

TP @ 958.50
SL @ 932.97

Cable : just open my short @ 1.4329

TP @ 1.4270
SL @ 1.4447


reasons has been explained in earlier posts
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  • #69
  • Feb 12, 2009 2:36am Feb 12, 2009 2:36am
update

Cable is out 50pips booked in

XAU/USD : still running !!


some of u might wonder why did he get out of cable so early why didnt he let it run ?

well the answer is that my main focus is GOLD all other pairs is just a bonus i just see the opportunity and i m in 50pips is not bad ...
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  • #70
  • Feb 12, 2009 2:43am Feb 12, 2009 2:43am
and these are all XAU/USD tardes
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  • #71
  • Feb 12, 2009 3:03am Feb 12, 2009 3:03am
Ok time for me to go to bed my trading partner is taking over....
i will update u about the trades some time in the NY session.

TRADE WELL !!!
  • #72
  • Feb 12, 2009 3:50am Feb 12, 2009 3:50am
Quoting JK$$$
Update XAU/USD long @ 941.42

TP @ 958.50
SL @ 932.97

Cable : just open my short @ 1.4329

TP @ 1.4270
SL @ 1.4447


reasons has been explained in earlier posts
I like the way you trade...


Sonic
  • #73
  • Feb 12, 2009 3:07pm Feb 12, 2009 3:07pm
update:Xau/Usd : the first order has been manually closed by my trading Partner and he open another long @ 947.80 ....

now the scenario on this one is in case it completes the anticipated move to book the rest of the profits and (we already closed the 1st order with some profits) for the 2nd order we will risk what we made from the 1st order ....

so basically we taking the risk to either the 2nd order give us the rest of the anticipating profits or to break even if it hits our stop loss>>>>
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  • #74
  • Feb 12, 2009 3:07pm Feb 12, 2009 3:07pm
Quoting sonicdeejay
I like the way you trade...


Sonic

Thank you Sonic!
  • #75
  • Feb 12, 2009 3:37pm Feb 12, 2009 3:37pm
Thats the Daily chart : the trend is still up, but is in over bought conditions so the ultimate scenario will be to retrace back to the channel and come back to test the Resistance or to just simply break the resistance sometime next week...either way we will just follow the price movement and we will act accordingly!!

see chart for possible scenarios
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  • #76
  • Feb 12, 2009 3:48pm Feb 12, 2009 3:48pm
Cable gave us a must trade trade lats nite with some good profits..it seems that is working its way to a new possible short trade for tonite its good to keep an eye on it !!!
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  • #77
  • Feb 12, 2009 5:57pm Feb 12, 2009 5:57pm
UPDATE XAU/USD: SL has been hit because of the spread, but as i posted earlier that was our back up plan we either make it or we break even and we broke even no harm on our account and most importanly no harm to us.....
  • #78
  • Feb 12, 2009 5:58pm Feb 12, 2009 5:58pm
Hello JK$$$,

I'm newbie at forex market. I've read your thread, and there is a question that I'd like to ask you.

When will you open a position?
What I mean is, are you waiting the last confirmation from candle chart where the trend move, or you open a position once the candle touch your trend line (folowing major trend).

Thank you 'n best regards.
  • #79
  • Feb 12, 2009 6:03pm Feb 12, 2009 6:03pm
now at this point i will take a different approach....the yellow line on the top of our chart thats the channel resistance from the daily and it seems that the price has start failing...also it has just break the white line which is the 1hr support line....

so i am gonna be looking for short, but quik trading not heavy on Units and very careful with my SL and TP ....

see chart
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  • #80
  • Feb 12, 2009 6:12pm Feb 12, 2009 6:12pm
Quoting uz1kid
Hello JK$$$,

I'm newbie at forex market. I've read your thread, and there is a question that I'd like to ask you.

When will you open a position?
What I mean is, are you waiting the last confirmation from candle chart where the trend move, or you open a position once the candle touch your trend line (folowing major trend).

Thank you 'n best regards.
hi uz1kid and welcome to the thread!

well your question doesn't really have a straight answer, because some times i will open a trade when is just penetrating one of my lines and some times i will wait for the next candale to open, and the reason is that i follow the major trend form daily when i have clear picture fro the daily that it will make a strong move i will not hesitate to open an order little early if i m having a little doubt about the trend i will wait for the next or maybe some more confirmations to open the trade...

i hope that covered your answer if still (?) let me know ...
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