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Trading EUR/USD & Majors, Longer Term

  • #101
  • Mar 3, 2009 1:33am Mar 3, 2009 1:33am
worm i must ask you since i too use triangles and patterns in general big time in my trading when they develop. now we all know that ascending triangles usually break to the upside unless it is a bear flag (which may be the case here considering the consolidation at at the low) but have you considered that chart you posted is really just half of a massive inverted h&s on the daily? I agree with your analysis that double top could play as a strong resistance but if broken....all hell will break loose to the upside do you not agree?...it could lead to 1.65...

btw..that double top may be the neckline to the inverted h&s im reffering to
Different opinions highly valued, ignorant to slander.
  • #102
  • Mar 3, 2009 1:50am Mar 3, 2009 1:50am
Quoting psiholog
worm i must ask you since i too use triangles and patterns in general big time in my trading when they develop. now we all know that ascending triangles usually break to the upside unless it is a bear flag (which may be the case here considering the consolidation at at the low) but have you considered that chart you posted is really just half of a massive inverted h&s on the daily? I agree with your analysis that double top could play as a strong resistance but if broken....all hell will break loose to the upside do you not agree?...it could lead...
Psiholog : Yes sir I have considered the possibilties of this pair playing either way breaking the wedge. Caught in two minds really regarding which way this pair would go. The inverted h&s you mentioned could still play out as you mentioned I agree completely. That's the reason I gave out the two possibilities of how things might unfold. I rely heavily on cci to point me the direction and since the 4hrly and the daily ccis are pointing at different directions, you're guess is as good as mine as to where this beast is headed to. My bias however remains down for the time being (prolly bcoz I have an open short position clouding my bias LOL). But should it turn, take out my stop and break the resistance, I will not hesitate to pull the trigger and go long. Good eye mate, thanks for the feedback
Thank You
  • #103
  • Mar 3, 2009 2:55am Mar 3, 2009 2:55am
Welp, I've been stopped out @ 138.5
+75 pocketed nonetheless. So I will stick to the plan and stay out of this pair for now.
Psiholog mate, now we get to see how the wedge plays out
Will reposition myself once there's a confirmation.

I have added to my remaining positions on cable @4151.
Down periscope.
Thank You
  • #104
  • Mar 3, 2009 2:56am Mar 3, 2009 2:56am
Bugger, took me out right at my stop and deflated. That's original
Thank You
  • #105
  • Mar 3, 2009 3:58am Mar 3, 2009 3:58am
I have noticed that Wormboy like to ride the HELLEVATOR. I would advise caution when trading this volatile pair. It's cool, though, I just wanted everyone to know that.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #106
  • Mar 3, 2009 4:02am Mar 3, 2009 4:02am
Moneyduck and myself were up one night 2 years ago with the pair laid up against a long Daily Uptrend line waiting for it to fall. We watched it fall over 1000 pips in 2 hours. Ahhh, the good old days.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #107
  • Mar 3, 2009 4:04am Mar 3, 2009 4:04am
Quoting AJspeed
I have noticed that Wormboy like to ride the HELLEVATOR. I would advise caution when trading this volatile pair. It's cool, though, I just wanted everyone to know that.

AJ
Lol. No worries mate, I have the disclaimer up regarding trading the beast as well lol
Thank You
  • #108
  • Mar 3, 2009 4:05am Mar 3, 2009 4:05am
Getting a little aggresive and I have been waiting on this pair to either attack the 2500 level and bounce or go on down to 2420 area. I have just placed a trade. I sold EUR/USD at 1.2627 with stop at 1.2740 and T/P at 1.2420

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #109
  • Mar 3, 2009 4:57am Mar 3, 2009 4:57am
Dragon is now officially cable on steroids.
Identical moves except bigger amount. That's 150 pips drop after taking me out.
When cable breaks 3900, I think dragon will crash land too. That's a wild guess btw lol.
Thank You
  • #110
  • Mar 3, 2009 5:48am Mar 3, 2009 5:48am
3997. That's my cue. Moving my last entry sl to 4140 +11 green. Was waiting for that. Okay guys, see you in a couple of hours, dinner time!
Thank You
  • #111
  • Mar 3, 2009 7:31am Mar 3, 2009 7:31am
This is an update to post #80.
Dragon is still trading within a channel upwards I reckon. And coupled with the analysis from the other two charts we're also trapped in that wedge. That explains the cci on the two timeframes pointing at opposite directions.
So I'm choosing to stay out for now. I think staying out for now would be a wise decision for me at least. Shouldn't be long before we get a clear direction, probably in a day or two. I apologise for the mishap.
Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: dday.JPG Size: 72 KB
Thank You
  • #112
  • Mar 3, 2009 7:44am Mar 3, 2009 7:44am
Hi Buddy
nice analysis............. I have a long of GBP /USD from yesterday long at 1.3990 now moved my stop loss up to 1.4080 if she moves down allowing to hit the stop........
TY buddy


Quoting wormboy
This is an update to post #80.
Dragon is still trading within a channel upwards I reckon. And coupled with the analysis from the other two charts we're also trapped in that wedge. That explains the cci on the two timeframes pointing at opposite directions.
So I'm choosing to stay out for now. I think staying out for now would be a wise decision for me at least. Shouldn't be long before we get a clear direction, probably in a day or two. I apologise for the mishap.
Cheers.
BANDA333
  • #113
  • Mar 3, 2009 7:48am Mar 3, 2009 7:48am
Banda : You're welcome mate. Good entry on cable to go long but watch out for 4150. That was previously strong support turn resistance now. So just be careful trading against the trend. Good luck mate.
Thank You
  • #114
  • Mar 3, 2009 8:07am Mar 3, 2009 8:07am
Quoting AJspeed
You may just like this indy.

AJ
Hi AJ - Interesting thread, just what I need for the summer and more time boating.....

I dont know which version of ZUP you've posted - the last time I looked they were up to v78 - the Russians are always updating it!
Trading Levels with WRBs
  • #115
  • Mar 3, 2009 9:34am Mar 3, 2009 9:34am
May have been a mistake taking that U/J limit order off the board. Time will tell. E/U trade working nicely though.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #116
  • Mar 3, 2009 9:37am Mar 3, 2009 9:37am
Sell stop USD/JPY @ 96.31 W/stop at 97.65 and T/P at 95.00. This is a Daily Candle single drop trade. My Specialty.

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #117
  • Mar 3, 2009 9:43am Mar 3, 2009 9:43am
I will be pulling 1/2 my load at 1.2539 and tack a 40 pip trail at that point. Does anyone need a trail that is an E.A. that can be programmed to fire up when a pending trade is triggered. It works really neat, all you have to do is put the ticket order number in the input tab. You can control 2 trades with this one E.A.? Its a pip for pip trail, also.

AJ

Quoting AJspeed
Getting a little aggresive and I have been waiting on this pair to either attack the 2500 level and bounce or go on down to 2420 area. I have just placed a trade. I sold EUR/USD at 1.2627 with stop at 1.2740 and T/P at 1.2420

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #118
  • Mar 3, 2009 9:45am Mar 3, 2009 9:45am
Here it is
Attached File(s)
File Type: ex4 TrailStop.ex4   6 KB | 250 downloads
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #119
  • Mar 3, 2009 10:12am Mar 3, 2009 10:12am
Close 1/2 load on EUR/USD trade to lock in 82 pips. Either place 40 pip trail E.A. or move stop to B/E

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #120
  • Mar 3, 2009 10:18am Mar 3, 2009 10:18am
Nice work AJ
Thank You
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