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Trading EUR/USD & Majors, Longer Term

  • #61
  • Feb 27, 2009 6:53pm Feb 27, 2009 6:53pm
GBP/USD

Massive fluctutions expected but I feel that there could be some strong gains ahead.
At least if you are willing to look at Daiies.
  • #62
  • Feb 27, 2009 7:06pm Feb 27, 2009 7:06pm
Lets go out to the weekly chart where we see a classic double bottom forming, and especially note the hammers in the rectangle, a sign that a change in direction may be on the horizon. The Daily is showing the opposite of the USD/CHF and the ellipse is there just to show the decline of the
aggressivness of the price. All showing that the longs may be back soon.

AJ
Attached Image(s) (click to enlarge)
Click to Enlarge Name: jmt eur-usd weekly double bottom.gif Size: 28 KB
Click to Enlarge Name: jmt eur-usd daily falling wedge.gif Size: 28 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #63
  • Edited Feb 28, 2009 3:16pm Feb 27, 2009 7:21pm | Edited Feb 28, 2009 3:16pm
With a look at cable and it is a mess. It's a perfect picture of Chaos and is why we look for other pairs to trade....LOL. I can see a recovery to the 4540 area or down to 4160 area. Be carefull when trading this pair right now. I will wait for my system to show me the way here. But if you block out the red trendlines tou can still see the falling wedge still intact and that us where I will put my weight when I trade this pair. But with the doji earlier I can't tell for sure. Will wait a day for this guy. Also, we are at 38.1 % Fib of the latest move down.
Attached Image (click to enlarge)
Click to Enlarge Name: jmt gbp-usd daily.gif Size: 29 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #64
  • Feb 27, 2009 10:21pm Feb 27, 2009 10:21pm
AJspeed,

can you reveal which broker are you using to micro trade ?

Thank you.
  • #65
  • Feb 28, 2009 3:51am Feb 28, 2009 3:51am
FXDD right now


Quoting krkvak
AJspeed,

can you reveal which broker are you using to micro trade ?

Thank you.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #66
  • Feb 28, 2009 2:44pm Feb 28, 2009 2:44pm
Well, after looking at cable for 24 hours I found some significance that the price may continue long. I have found Bullish divergence on the 4 Hr Timeframe. We will see how it plays out.

AJ
Attached Image (click to enlarge)
Click to Enlarge Name: cable.gif Size: 26 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #67
  • Feb 28, 2009 2:52pm Feb 28, 2009 2:52pm
If someone were to ask me where is Cable going right now I would be a fool to give him an answer and let him have a 50% chance of pissing away his hard earned money. Sure I could say to place a long here or a short there, but the truth is it is in nomans land. I will say this after pulling out every means known to me that a break of the 4383 and a touch of 4384 could run us up to 4520 level and a mid T/P at. Meanwhile, I will look for another pair to talk about.

AJ
Attached Image (click to enlarge)
Click to Enlarge Name: cable1.gif Size: 42 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #68
  • Mar 1, 2009 2:44pm Mar 1, 2009 2:44pm
My Target trade this afternoon looks to be either EUR/JPY or EUR/USD. Huge Gaps so far.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #69
  • Mar 1, 2009 5:06pm Mar 1, 2009 5:06pm
AJ,

what are those to me strange looking dotted lines on the chart ? What do they mean ?

Krk

Quoting AJspeed
If someone were to ask me where is Cable going right now I would be a fool to give him an answer and let him have a 50% chance of pissing away his hard earned money. Sure I could say to place a long here or a short there, but the truth is it is in nomans land. I will say this after pulling out every means known to me that a break of the 4383 and a touch of 4384 could run us up to 4520 level and a mid T/P at. Meanwhile, I will look for another pair to talk about.

AJ
  • #70
  • Mar 1, 2009 7:28pm Mar 1, 2009 7:28pm
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.
Lol, that was predictable
Took out three quarter of the added position@4207 +300 on the green.
Will let the remaining two position run for the time being unless there are changes to be made. Good luck everyone.
AJ : good morning mate
Thank You
  • #71
  • Mar 2, 2009 2:57am Mar 2, 2009 2:57am
Took a small short position on dragon in additional to my remaining 2 open positions with cable.
Short@ 139.25 [email protected]
No plan on tp for dragon, just looking to amend the sl when it hits 137.35
I will be looking to add to position once a candle closes below 135.xx area
And as usual, will exit the the trade if things get ugly
Thank You
  • #72
  • Mar 2, 2009 4:39am Mar 2, 2009 4:39am
hmmm .. wonder what's keeping dragon afloat. Suppose to dive
Let's see ...
Thank You
  • #73
  • Mar 2, 2009 5:51am Mar 2, 2009 5:51am
Quoting wormboy
Took a small short position on dragon in additional to my remaining 2 open positions with cable.
Short@ 139.25 [email protected]
No plan on tp for dragon, just looking to amend the sl when it hits 137.35
I will be looking to add to position once a candle closes below 135.xx area
And as usual, will exit the the trade if things get ugly
137.35, just as planned. Moved my sl to 139.0 +25 on the green.
Next target to amend the sl for me would be a candle close below 136.5
Okay guys, I'm off for now. Dinner time. See you guys ny open.
Good luck
Thank You
  • #74
  • Mar 2, 2009 6:35am Mar 2, 2009 6:35am
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.
Quoting wormboy
I have another small position which was opened yesterday @4210 which I will hold & carry through to the weeks to come until it reaches 3600. If it decides to turn, I'll just let it stop me out. This had been a very good month trading this pair.
Good luck to you all.
Okay. Target reached. sl for both remaining entries on cable now amended @ 4200. Additional +119 on the green. 39xx looks like a very realistic target now. sl will be amended once she reaches that level.
Good luck
Thank You
  • #75
  • Mar 2, 2009 6:37am Mar 2, 2009 6:37am
Quoting wormboy
137.35, just as planned. Moved my sl to 139.0 +25 on the green.
Next target to amend the sl for me would be a candle close below 136.5
..
Just as planned, sl amended to 138.5 +75 on the green.
Let's see where this takes us.
Good luck
Thank You
  • #76
  • Mar 2, 2009 7:19am Mar 2, 2009 7:19am
Hey all, I don't trade Dundays unless there is a gap against the trend. Pairs are still pushing down, but I don't expect this to last much longer. I have no signals on my systems so no trades placed yet for the week. Original trade stopped out with an easy 58 pips when hit stop at breakeven. All majors pushing against both high limit and low limits on my bands.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #77
  • Mar 2, 2009 7:22am Mar 2, 2009 7:22am
I am putting a sell stop on USD/JPY at 97.03 with stop at 97.63 and a T/P1 at 96.40 and T/P 2 at 65.10
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #78
  • Mar 2, 2009 7:32am Mar 2, 2009 7:32am
Hello AJ, reeling them in like crazy today
See you later & good luck to you mate. Have some errands to do.
Thank You
  • #79
  • Mar 2, 2009 7:49am Mar 2, 2009 7:49am
Watch out for the reversal.

Quoting wormboy
Hello AJ, reeling them in like crazy today
See you later & good luck to you mate. Have some errands to do.
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #80
  • Mar 2, 2009 7:52am Mar 2, 2009 7:52am
Gonna work from the top end on this trade also. If either hits close out the other.

Sell Limit on USD/JPY at 98.55 with stop at 99.70 and T/P1 at 96.45 and T/P 2 at 94.50

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