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  • #9,821
  • Mar 18, 2009 3:38pm Mar 18, 2009 3:38pm
Hi to you all
EUR/JPY Weekly 131.14, 3 times, and Daily 131.03, 4 times, perhaps ppz level if it gets there! (sorry gft will not let me post charts!)
Any thoughts!
  • #9,822
  • Mar 18, 2009 3:42pm Mar 18, 2009 3:42pm
Quoting orcus
My two trades were:

EUR/USD short @ 1.3085 -- obvious repeat SR visible on 4h, daily, and weekly; also a long-term line; has not been touched since 2-09. My guess as to why this failed would be that there was a bounce from 3070 a couple days ago, but I thought the level was strong enough to still get a decent bounce from the "real" line.

USD/CHF long @ 1.16900 -- about as obvious SR as you could hope for; formerly used as resistance, after breaking that on 3/12 there was not even a hint of a test from this side. Many previous reactions as S...
I took these trades too so atleast we are looking the charts the same way. USDCHF 1.1680 and EURUSD 1.3093

Quote
Three months in and I still seem to have no clue as to what makes a level good.
I was thinking last week, what would be the best possible setup if I could define one. I have to admit that I don't really know.

I would really like to see some charts of the setups that the more experienced trades think that are very high probability and the reason why.
  • #9,823
  • Mar 18, 2009 5:08pm Mar 18, 2009 5:08pm
Thanks for the feedback, all. I'm definitely not giving up. As for the live trades, they are only $1 trades (not per pip, per trade), done more to "lock in" the results and avoid fudging then to make money for now.

Life of Pip -- I've been going by forexfactory's news schedule, and today's USD news showed only at 7.30am EST, which impact I thought would have dissipated by the time I entered at 8.15, with the next not showing until 9.30 and the next "red" news not until 1.15pm.

Again, thanks to all for this and future feedback.
  • #9,824
  • Mar 18, 2009 5:11pm Mar 18, 2009 5:11pm
Orcus, you need to adjust your FF clock after daylight savings time from last week.

User Control Panel ----> Time and Date Options ----> DST On
  • #9,825
  • Mar 18, 2009 6:49pm Mar 18, 2009 6:49pm
D'OH!

Thanks.
  • #9,826
  • Mar 19, 2009 5:14am Mar 19, 2009 5:14am
Alright guys here is something I will be taking just checking the thread out...

Attached Image (click to enlarge)
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  • #9,827
  • Mar 19, 2009 5:55am Mar 19, 2009 5:55am
Quoting Shermenator
Alright guys here is something I will be taking just checking the thread out...

Attachment
Welcome Back!
  • #9,828
  • Mar 19, 2009 6:02am Mar 19, 2009 6:02am
[quote=Shermenator;2614722]Alright guys here is something I will be taking just checking the thread out...

Alright I am now in....

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 27 KB
  • #9,829
  • Mar 19, 2009 6:07am Mar 19, 2009 6:07am
Hi Shermenater
I would like to ask you a question about this trade. There is a 1.2395 option expiry on this in a couple of hours. Does this mean that the bounce you hope for might be stalled till later. Or because it has broken that level now, does that mean the expiry is over. I wonder about this often and whether it must be taken into account. thanks.
  • #9,830
  • Mar 19, 2009 6:08am Mar 19, 2009 6:08am
I got the reaction I was looking for I am up about 20 pips..

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 27 KB
  • #9,831
  • Mar 19, 2009 6:22am Mar 19, 2009 6:22am
Alright I am up about 40 pips ....will mention when I move my stop to break even...like stealing candy from a baby lol

Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 27 KB
  • #9,832
  • Mar 19, 2009 6:54am Mar 19, 2009 6:54am
Okay, my turn to put my head on the chopping block. I am in audusd at 6840, looking at 6993 but will pull out if it looks risky.
Attached Image (click to enlarge)
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  • #9,833
  • Mar 19, 2009 7:06am Mar 19, 2009 7:06am
Seems like USD is very weak now. I would not buy it now from any level.
  • #9,834
  • Mar 19, 2009 7:11am Mar 19, 2009 7:11am
Yeah, stay away from the runaway train for now. If you are going to trade, I'd widen stops (thus lowering lot amounts too). Don't want to hear that the levels aren't working
  • #9,835
  • Mar 19, 2009 7:27am Mar 19, 2009 7:27am
Quoting Tori
Okay, my turn to put my head on the chopping block. I am in audusd at 6840, looking at 6993 but will pull out if it looks risky.
Attachment

Watch out for 6960 - keep it tight when this does fall it might go quickly.
  • #9,836
  • Mar 19, 2009 7:36am Mar 19, 2009 7:36am
Quoting RedCabbage
Watch out for 6960 - keep it tight when this does fall it might go quickly.
I just jumped out according to 5 min chart. rather keep the pips
  • #9,837
  • Mar 19, 2009 7:38am Mar 19, 2009 7:38am
Did a 30, and a 25 pips scalp on the eurjpy so have done fine tonight. Not going to press my luck.
  • #9,838
  • Mar 19, 2009 7:42am Mar 19, 2009 7:42am
I reckon when things are moving like this, that it is good to use 5, sometimes 1 min chart for turns. I dont take the scalp trade as such, but use the scalping techniques to get in if I think it might move well. This is one wild night. Still looking at eurjpy if it comes down again, and audusd if it should drop back to my 6840 line. Wouldnt go into anything else at the moment. Is anyone else out there playing with this tonight.
  • #9,839
  • Mar 19, 2009 7:50am Mar 19, 2009 7:50am
Quoting Tori
I just jumped out according to 5 min chart. rather keep the pips
Yes, 5 mins is choppy.
  • #9,840
  • Mar 19, 2009 7:58am Mar 19, 2009 7:58am
I am interested is selling usdcad if it comes back to 303 which will be quite a good rebound. No way did I wish to follow it up.
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