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My trades by Dave

  • #181
  • Oct 19, 2005 10:06pm Oct 19, 2005 10:06pm
Quoting bea
hi Dave
miss you,
i am short @1985 sl 2005 first target @ pivot 1956, How do you see the eur chart??
yen 1600??
bye
Hey thanks. I been right here.
I am quiet cause I am awaiting this mind numbing consolidation.

After this mornings losses I am a bit on edge untill this thing breaks pivot. I am not gonna let it hit my s/l or even go negative. Depending on the indacaters I will pull it out if a rally back to 1.2000 looks likely and reenter at the top.

I Found this and reviewed it. At this link is a break out method. One of the charts in it demondstrates how to trade breakout. If I would have followed it I wouldn't got caught so short. The lesson is on trading daily high/low breakout.
After this mornings action I figured this will help all. http://www.tradeology.com/breakout.html

Dave
  • #182
  • Oct 20, 2005 11:40am Oct 20, 2005 11:40am
Quoting xxDavidxSxx
Man that was crazy this morning.

I lost alot more cause I kept trying to go short at what seemed to be tops. I gotta stop doing that!

Right now I am short eur @ 1.1991...s/l 1.2010....target open.

I didn't post it so people can enter cause I don't know what the market is doing.

Still hanging out above daily pivot 1.1955 I need to see a break of that.

Dave
Well I got my break of daily pivot but no follow through.

I pulled trade @ 1.1956.....+32 pips

Right now I wouldn't try to trade this market. Theres no way to tell whats happening. Oil prices dropped to 3 month lows but the eur didn't fall and usd didn't rise. Gold is falling too and no significant reaction there either.

We must wait for a move first. Usually the longer the consilidation the bigger the move on the break out.

If the price goes above 1.2010 then it should start hitting stops. And more at 1.2020/30/40/50. Centralbanks are selling at 1.2000 but eventually they wont be there to sell. I belive that they are setting us up. They establish that as a top so real money accounts put there s/l just beyond there, and then suddenly instead of selling at the top they bid and thrust the price into the stops propelling it up. I would sell @ 1.1995/99 with a stop at 1.2010 and go long at 1.2015/20 only targeting 1.2050/60 at first.

Dave
  • #183
  • Oct 20, 2005 1:32pm Oct 20, 2005 1:32pm
What is the chance of this trade developing with EUR/USD ?
Rectangle formation and break out.

Thanks
  • #184
  • Oct 20, 2005 2:32pm Oct 20, 2005 2:32pm
Your pivot today of 1956 was pretty accurate for the US session. What times for open/close did you use to calculate this?
Thanks and continued good fortune to you.
  • #185
  • Oct 20, 2005 2:47pm Oct 20, 2005 2:47pm
[It was just observation]
  • #186
  • Oct 20, 2005 2:48pm Oct 20, 2005 2:48pm
[It was just observation
  • #187
  • Oct 20, 2005 4:17pm Oct 20, 2005 4:17pm
Hi Dave,

The GBP/USD can journey upwards and the EUR needs to clear the barrier at 0.6780. My long EUR/USD trade from 1.1982 is stiil on. I have a close stop loss. Where do you think would be wise to put a limit order ? I don't think I can stay up the whole night. Thanks
  • #188
  • Oct 20, 2005 4:29pm Oct 20, 2005 4:29pm
Quoting xxDavidxSxx


If the price goes above 1.2010 then it should start hitting stops. And more at 1.2020/30/40/50. Centralbanks are selling at 1.2000 but eventually they wont be there to sell. I belive that they are setting us up. They establish that as a top so real money accounts put there s/l just beyond there, and then suddenly instead of selling at the top they bid and thrust the price into the stops propelling it up. I would sell @ 1.1995/99 with a stop at 1.2010 and go long at 1.2015/20 only targeting 1.2050/60 at first.

Dave
Resistance was broken and my entry order was triggered

Entry 1.2011
s/l 1.1990...(daily pivot is 1.1997)
Target...1st 1.2050...2nd 1.2080

This should really go up from here because on the daily chart it appeares to have formed a double bottom along with the 1.1864 low on july 4th. If this is the case then theres now where to go but up.
But as usual you never know So I'll sell a sustained break of pivot.

This could be the ground floor of a nice trend up.

edit: Highway...looks like were on the same page there. I didn't even see your chart untill after I just posted this.....LOL good job on that observation:crystal:

Dave
  • #189
  • Oct 20, 2005 4:37pm Oct 20, 2005 4:37pm
Quoting highway3000
Hi Dave,

The GBP/USD can journey upwards and the EUR needs to clear the barrier at 0.6780. My long EUR/USD trade from 1.1982 is stiil on. I have a close stop loss. Where do you think would be wise to put a limit order ? I don't think I can stay up the whole night. Thanks
The way the market has been I cann't project a limmit to this rally. I am hopeing that traders are tired of the 1.1900/1.2200 range and are ready to jump on the band wagon for a nice long up trend to retest the 1.2588 top.

I would keep a trailing stop every 35 pips. You see most of my s/l are 30-35 and rarly get hit as long as entry is right. untill it passes 1.2050 keep it below the daily pivot at 1.1997 no closer than 1.1990.
First daily resistance is 1.2047 next is 1.2073 when it hits 2050 move to break even or 10 above ...as soon as it passes 2073 move it to 2040....next resistance is 2123...then move s/l to 2065. That is if you dont want to do it by a set 35 pip figure.

Dave
  • #190
  • Oct 20, 2005 4:45pm Oct 20, 2005 4:45pm
Thanks Dave,

I learnt a lot from the links you gave me and by analysing your charts and the way you go around plotting them.

Really appreciate you sharing spirit.
  • #191
  • Oct 20, 2005 6:31pm Oct 20, 2005 6:31pm
Funny how the fxcm news board just posted that a double bottom could be in place......

We figured that out long time ago.

truthfully this thing could do anything. Yesterday aisia was very slow session. I hope todays is better. I stayed up untill 3 am last night. I cann't do that again.

Dave
  • #192
  • Oct 20, 2005 6:44pm Oct 20, 2005 6:44pm
JP Aug All industry
JP Aug Tertiary industry
N/F
N/F
-0.80 pct
-0.80 pctIn 15 minutes the above Japanese report will be out. I will go to sleep after that. It won't be slow tonight in Asia. It is 2 am in Europe. Most people are already in bed.
  • #193
  • Oct 20, 2005 6:59pm Oct 20, 2005 6:59pm
hurricane threatening near gulf....possible florida target....Look for premature selling of USD.


Dave
  • #194
  • Oct 20, 2005 7:08pm Oct 20, 2005 7:08pm
Quoting highway3000
JP Aug All industry
JP Aug Tertiary industry
N/F
N/F
-0.80 pct
-0.80 pctIn 15 minutes the above Japanese report will be out. I will go to sleep after that. It won't be slow tonight in Asia. It is 2 am in Europe. Most people are already in bed.
Thanks God you do not have hurricanes , we here have to be prepared for a new one and this "Wilma" coming strong, next week could be more bad news for the US economy.
bye
  • #195
  • Oct 20, 2005 7:26pm Oct 20, 2005 7:26pm
Quoting xxDavidxSxx
Well I got my break of daily pivot but no follow through.

I pulled trade @ 1.1956.....+32 pips

Right now I wouldn't try to trade this market. Theres no way to tell whats happening. Oil prices dropped to 3 month lows but the eur didn't fall and usd didn't rise. Gold is falling too and no significant reaction there either.

We must wait for a move first. Usually the longer the consilidation the bigger the move on the break out.

If the price goes above 1.2010 then it should start hitting stops. And more at 1.2020/30/40/50. Centralbanks are selling at 1.2000 but eventually they wont be there to sell. I belive that they are setting us up. They establish that as a top so real money accounts put there s/l just beyond there, and then suddenly instead of selling at the top they bid and thrust the price into the stops propelling it up. I would sell @ 1.1995/99 with a stop at 1.2010 and go long at 1.2015/20 only targeting 1.2050/60 at first.

Dave

Dave you were right, i was late but am long@2022, now i have the sl @ breakeven
this night relax, go to bed early your trailing stop will work fine
good luck
  • #196
  • Oct 20, 2005 7:39pm Oct 20, 2005 7:39pm
pulled trade 1.2055

+42 pips

Possible reentry on a dip or break of 1.2073 resistance


Dave
  • #197
  • Oct 20, 2005 8:33pm Oct 20, 2005 8:33pm
I am short from 1.2057. Big offer looked to be tripped at 1.2080

s/l 5 past break even....target open

Dave
  • #198
  • Oct 20, 2005 8:40pm Oct 20, 2005 8:40pm
Quoting xxDavidxSxx
I am short from 1.2057. Big offer looked to be tripped at 1.2080

s/l 5 past break even....target open

Dave
Not gonna type alot gotta wach this price. After the last week of market movement you cann't assume nothing. if this does a complete retrace like the last few break outs did I am there. If I get stopped for 8 pips o'well....I'll trade the london session. Or mabe just wait till next week.

Dave
  • #199
  • Oct 20, 2005 9:13pm Oct 20, 2005 9:13pm
I just noticed the trend here....Its so wide that it took a 3rd wave to see it. According to the 4 hr chart we can expect a drop from here. A break of 1.2080 sustained will be a good bull sign. If I get stopped out I will short again on a retest of the top trend line. Untill the line is broke we got ourselves a trend. sideways trend, but a trend we can trade.
Place a center line in the middle of the trend and use that as a pivot. I'll have charts for next week should the trend hold.

Dave
Attached Image
  • #200
  • Oct 21, 2005 4:23pm Oct 21, 2005 4:23pm
Quoting xxDavidxSxx
I am short from 1.2057. Big offer looked to be tripped at 1.2080

s/l 5 past break even....target open

Dave
Trade was pulled at 1.1960......+94 pips


Have a great weekend guys!

Dave
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