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Trading EUR/USD & Majors, Longer Term

  • #41
  • Feb 27, 2009 5:19am Feb 27, 2009 5:19am
Yup, same here. I didn't realise I was stopped out @ 4155. That's the mentioned +200. No complains there. Just that one small position left open & I don't intend in placing any orders till Tuesday earliest.
Enjoy your weekend AJ & good luck to you guys.
Thank You
  • #42
  • Feb 27, 2009 7:35am Feb 27, 2009 7:35am
I have a buy signal on the EUR/USD, but will wait for momentum for a better bargain.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #43
  • Feb 27, 2009 7:40am Feb 27, 2009 7:40am
I am buying EUR/USD @ 1.2615 wit stop at 1.2413 and T/P at 1.2815

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #44
  • Feb 27, 2009 7:43am Feb 27, 2009 7:43am
I got .03 Micros on and will leave it on over the weekend if it does not hit.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #45
  • Feb 27, 2009 8:52am Feb 27, 2009 8:52am
AJ, out of curiosity, what prompted you to go long? Because I see further selling pressure. I only see a possible retracement up to 27xx level before this settling at 23xx area at least.
I don't trade fibre so I might be a little bit off but the speculated target I have is based solely on the setup I use to trade cable & dragon. If you don't mind sharing mate. Thanks
Thank You
  • #46
  • Feb 27, 2009 10:05am Feb 27, 2009 10:05am
I have a strength Oscillator that tells me oversold conditions and it is built into a complex system I paid $2500 for. It is the best system I have ever seen by light years. It is rarely wrong.

Jim

Quoting wormboy
AJ, out of curiosity, what prompted you to go long? Because I see further selling pressure. I only see a possible retracement up to 27xx level before this settling at 23xx area at least.
I don't trade fibre so I might be a little bit off but the speculated target I have is based solely on the setup I use to trade cable & dragon. If you don't mind sharing mate. Thanks
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #47
  • Feb 27, 2009 10:09am Feb 27, 2009 10:09am
As for your retracement level, the T/P I call out will change daily as the LP line moves with the daily chart.

AJ
Quoting wormboy
AJ, out of curiosity, what prompted you to go long? Because I see further selling pressure. I only see a possible retracement up to 27xx level before this settling at 23xx area at least.
I don't trade fibre so I might be a little bit off but the speculated target I have is based solely on the setup I use to trade cable & dragon. If you don't mind sharing mate. Thanks
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #48
  • Feb 27, 2009 10:10am Feb 27, 2009 10:10am
Pair is now trying to push thru the LPI Indy. If it does, then the 2800 area may be a good call.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #49
  • Feb 27, 2009 10:11am Feb 27, 2009 10:11am
You liked that call, Eeh......LOL

Quoting AJspeed
As for your retracement level, the T/P I call out will change daily as the LP line moves with the daily chart.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #50
  • Feb 27, 2009 10:27am Feb 27, 2009 10:27am
Lol, the retracement level so far was bang on cue. But since it's friday it might just shoot up again to your tp area.
Thank You
  • #51
  • Feb 27, 2009 10:52am Feb 27, 2009 10:52am
Yea, Pair went to LPI line and bounced right back to the 76% Fib level and is recovering nicely. If you were looking at the 15 Min you would probably have a trendline at the bottom of the last candle and this mornings low. I know we are concentrating on the Daily, but feel free to drop down and look because thats the way we learn. It will probably form some kind of triangle for the rest of the day. Now, I wouldn't mind the same kind of selloff we had last Friday right here.

AJ

Quoting wormboy
Lol, the retracement level so far was bang on cue. But since it's friday it might just shoot up again to your tp area.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #52
  • Feb 27, 2009 10:56am Feb 27, 2009 10:56am
Here is the arrow I got for a long signal this mornin g.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 38 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #53
  • Feb 27, 2009 2:29pm Feb 27, 2009 2:29pm
Guess I'll have to break my own rules of not placing any trades before Tuesday. I have added 0.4 to my current position and taking this one over the weekend after all.
Took short@4309 sl@4655 while 4065 being the first target to amend the sl to +ve.
Reason being after the breakout from the triangle, price went back up and the last candle tested & closed failing to break past the formation & the sma. This is a good enough reason for me to place a trade.
Okay, happy weekend everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: GU4.JPG Size: 99 KB
Thank You
  • #54
  • Feb 27, 2009 2:48pm Feb 27, 2009 2:48pm
Did you look out at the Daily before you made this call? From what I can see is this thing can go up as easy as it can go down. Notice it is trying to bounce long off of the bottom of the daily triangle.


AJ
Quoting wormboy
Guess I'll have to break my own rules of not placing any trades before Tuesday. I have added 0.4 to my current position and taking this one over the weekend after all.
Took short@4309 sl@4655 while 4065 being the first target to amend the sl to +ve.
Reason being after the breakout from the triangle, price went back up and the last candle tested & closed failing to break past the formation & the sma. This is a good enough reason for me to place a trade.
Okay, happy weekend everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 24 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #55
  • Feb 27, 2009 3:14pm Feb 27, 2009 3:14pm
Wormboy, remember, even though that trade will probably go thru for you and since I take my trades off of daily signals, I would not take a chance on that trade simply because I don't have a Daily signal. And Daily trendlines far outweigh those drawn off the 4 hr. Do you have a percentage of positive trades as opposed to losses?

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #56
  • Feb 27, 2009 3:31pm Feb 27, 2009 3:31pm
Thanks for the heads up AJ. But I have considered the position I took based on the daily. From my daily the triangle breakout was yesterday. I do not have my daily candle creeping back in it tho, so I took it. No worries tho, should the trade turn against me the 300 pips sl should give me ample time to get out & reposition.
And what do you mean by percentage of winning opposed to losses? I don't quite understand. If you're asking is my winning ratio higher than my losses I would humbly answer yes
Have a good weekend AJ. I am off to singapore yeeehaaaa. Chow
Attached Image (click to enlarge)
Click to Enlarge Name: gud.JPG Size: 85 KB
Thank You
  • #57
  • Feb 27, 2009 6:20pm Feb 27, 2009 6:20pm
Daily U/J shows the August thru January 2008 move down and double bottom. otice we have just bounced off the 50 % Fib level. Down on the 4 Hr we have a 61.8 % Fib level bounce with a Bearish Haraml to end the week. Shorts may be the coming trend.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jmt u-j 50% fib bounce.gif Size: 27 KB
Click to Enlarge Name: jmt u-j 4 hr 61.8% fib bounce.gif Size: 18 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #58
  • Feb 27, 2009 6:28pm Feb 27, 2009 6:28pm
U/CHF consolodating on both fronts including a huge rising wedge or more a flag formation. Looks Subtle but very tradable. Drop down to the 4 Hr and trade short when it hits the top and trade long when it hits the bottom.

AJ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jmt usd-chf daily consolodation.gif Size: 22 KB
Click to Enlarge Name: jmt usd-chf 4 hr consolodation.gif Size: 29 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #59
  • Feb 27, 2009 6:30pm Feb 27, 2009 6:30pm
Will follow up on these 2 pairs tomorrow morning.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #60
  • Feb 27, 2009 6:33pm Feb 27, 2009 6:33pm
Ok, on Sunday night if the price Gaps up I will pull half my load off this trade and move stop to my original entry point at 1.2615. This will gaurantee at east 58 pips.

AJ


Quoting AJspeed
I am buying EUR/USD @ 1.2615 wit stop at 1.2413 and T/P at 1.2815

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
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