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Trading EUR/USD & Majors, Longer Term

  • #121
  • Edited 3:21pm Mar 3, 2009 3:07pm | Edited 3:21pm
Looks like we're still headed for collision course. I believe a breach of 3900 level will push her down for good.
Atm 3 of my remaining short positions are still valid.

1. short@4309 sl@4200
2. short@4210 sl@4200
3. short@4151 sl@4140

All 3 remaining position's stops will be amended once price reach 3920.
Good luck everyone.
Attached Image (click to enlarge)
Click to Enlarge Name: gud.JPG Size: 84 KB
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  • #122
  • Mar 3, 2009 8:53pm Mar 3, 2009 8:53pm
Did you see this hidden support line? Just FYI.

AJ
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 26 KB
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #123
  • Mar 3, 2009 9:17pm Mar 3, 2009 9:17pm
I see cable in a bullish mode for a short run. Daily close convinced me to long @ 1.4030 with sl @ 1.3910 and tp @ 1.4350.
  • #124
  • Mar 3, 2009 9:29pm Mar 3, 2009 9:29pm
I placed a Sell Stop on GBP/USD @ 1.3955 W/Stop @ 1.4056 and T/P at 1.3860 Approx. 90 Pips

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #125
  • Mar 4, 2009 2:26am Mar 4, 2009 2:26am
Quoting AJspeed
Did you see this hidden support line? Just FYI.

AJ
I saw that AJ. Thanks
Thank You
  • #126
  • Mar 4, 2009 2:39am Mar 4, 2009 2:39am
I must advise traders who are contemplating an entry on dragon. There was a 200 pip surge in the last 2 hours. But we are still bottled in the wedge and would call it as a no trade as of yet. ( refer to post 80 & 92 )
The pmi data is scheduled in less than an hour so this could down just as fast as it went up. I believe a breakout will be underway in a day or two at least, so patience is paramount.
Good luck.
Thank You
  • #127
  • Mar 4, 2009 3:59am Mar 4, 2009 3:59am
I was too late to share this one, however, you still may be able to get in at your disgression.

Sell USD/CHF @ 1.1834 W/Stop @ 1.1980 and T/P at 1.1694

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #128
  • Mar 4, 2009 4:26am Mar 4, 2009 4:26am
Quoting wormboy
Looks like we're still headed for collision course. I believe a breach of 3900 level will push her down for good.
Atm 3 of my remaining short positions are still valid.

1. short@4309 sl@4200
2. short@4210 sl@4200
3. short@4151 sl@4140

All 3 remaining position's stops will be amended once price reach 3920.
Good luck everyone.
Added another lot to my position.

4. short@4092 sl@4200

No tp. sl will be amended when price reaches 3920.
Thank You
  • #129
  • Edited 5:40am Mar 4, 2009 5:26am | Edited 5:40am
Quoting AJspeed
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
I've been tracking this one for awhile and I got a sell signal last night confirming the sell limit suggested by yourself AJspeed, only to find this morning that it was a false signal and it looks like it's nearing the stop.

Unfortunately I went against my gut instinct and entered this trade lets hope it does some reversal although I don't see any sign of one coming as of yet.

I entered the trade at 0:00 GMT 4/3 and at 7:20 this morning it looks like it broke the resistance and the pair is following its well established long-term trend since mid-dec. Currently I'm at -72 pips

The USD/JPY has reached its highest since 10 Nov 08, that's nearly 4 months ago. Does this mean that the greenback is back?
_______________ Say Good-bye to Buy-and-Hold
  • #130
  • Mar 4, 2009 5:48am Mar 4, 2009 5:48am
I cancelled that order yesterday, I hope it works for you. I don't leave them on for too long before I pull them.

AJ

Quoting AJspeed
Close limit order on USD/JPY
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #131
  • Mar 4, 2009 6:27am Mar 4, 2009 6:27am
Quoting AJspeed
I cancelled that order yesterday, I hope it works for you. I don't leave them on for too long before I pull them.

AJ
Yes I noticed you closed it yesterday AJ, but I had my eye on it waiting for a reverse signal, lol.. should have listened to you AJ But.. it's not over till the fat lady sings
_______________ Say Good-bye to Buy-and-Hold
  • #132
  • Mar 4, 2009 7:10am Mar 4, 2009 7:10am
In regards to post #107 I have attached a daily chart supporting the analysis.
There is still no clear breakout with 141.7 level providing major resistance.
We might see a rejection at that level, or we might get a rejection even after a piercing, when we hit the top channel. Either way I expect a pullback.
If rejected at the 141.7 level, I suppose the pullback would mean we will still consolidate between 136.xx area - 140.xx area before a breakout.
If rejected at the top side of the channel, I still expect a pullback before a bullish continuation can be confirmed or a false breakout. Either way, we shall wait & see.
Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: dragon4th.JPG Size: 83 KB
Thank You
  • #133
  • Mar 4, 2009 7:13am Mar 4, 2009 7:13am
Up 54 as of this post

Quoting AJspeed
I was too late to share this one, however, you still may be able to get in at your disgression.

Sell USD/CHF @ 1.1834 W/Stop @ 1.1980 and T/P at 1.1694

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #134
  • Mar 4, 2009 7:14am Mar 4, 2009 7:14am
Still waiting



Quoting AJspeed
I placed a Sell Stop on GBP/USD @ 1.3955 W/Stop @ 1.4056 and T/P at 1.3860 Approx. 90 Pips

AJ
Disclaimer: Take all trades at your own risk. Trade Demo account only.
  • #135
  • Mar 4, 2009 7:14am Mar 4, 2009 7:14am
Still waiting

Quoting AJspeed
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.
  • #136
  • Edited Mar 5, 2009 2:38am Mar 4, 2009 8:16am | Edited Mar 5, 2009 2:38am
Quoting wormboy
Looks like we're still headed for collision course. I believe a breach of 3900 level will push her down for good.
Atm 3 of my remaining short positions are still valid.

1. short@4309 sl@4200
2. short@4210 sl@4200
3. short@4151 sl@4140

All 3 remaining position's stops will be amended once price reach 3920.
Good luck everyone.

Added another lot to my position.

4. short@4092 sl@4200

No tp. sl will be amended when price reaches 3920.


Okay my third position had been stopped out +11.
Total amassed this week so far from cable : +311
We'll see how the rest turns out.
Cheers
Okay all my remaining positions had their stops triggered with one position ending with -ve
Closed cable +312 green from 3 trades. Now will stay out till all the announcements are out and once the dust settles.
Good luck.
Thank You
  • #137
  • Mar 4, 2009 9:43am Mar 4, 2009 9:43am
AJ : you're not picking up the trade for usd yen off the top? looks overbought to me.
Thank You
  • #138
  • Mar 4, 2009 12:31pm Mar 4, 2009 12:31pm
My bearish bias remains intact. Cable is still trading in this channel and it will be interesting to see if the current candle formation which is a shooting star forming at the top of the channel remains the same at the close, which is 2 hours away. Very close to the 4150 level in my opinion offers superb short positioning with a good risk reward. This however, is only my own personal opinion. Good luck guys.
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  • #139
  • Mar 4, 2009 1:01pm Mar 4, 2009 1:01pm
I have received pm asking me as to why I need the price to move to 3920 before I amend my remaining position stops & why I keep saying cable needs to close below 3900 before falling further.
I think the chart is self explanatory
Hope that helps. Cheers.
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  • #140
  • Mar 4, 2009 2:16pm Mar 4, 2009 2:16pm
Okay. My 4hr price on cable had closed within the channel. At the moment my bearish bias remains unchanged ( what else is new ey )
I mentioned before, I'm not much of a fundamentalist, but with boe announcement due tomorrow, today's bullish scenario might just be the case of pricing in. This had happen many times before in the past. We shall see how this pans out the day after tomorrow, if today's move is indeed the turn or it's just the big boys trying draw us out from our shells before dropping it like it's hot!
For now, my chart shows down. I will not think or trade otherwise.
I will leave my remaining 3 open positions for cable to work.

Good luck guys.
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