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My trades by Dave

  • #221
  • Oct 24, 2005 2:59am Oct 24, 2005 2:59am
Thank you for your first post on forexfactory just to come to my defence

Dave

Quoting stricko108
I don't think dave wants the storm to damage anywhere, he is just stating the fact that it is hitting.
  • #222
  • Oct 24, 2005 3:03am Oct 24, 2005 3:03am
Quoting JohnFX
If I was playing a trade where the dollar would be affected by some disaster, I would be playing the eurusd or usdchf. I don't really see a hurricane in Florida having much affect on the dollar, but if it did, playing the dollaryen doesn't really make too much sense. You have a strong uptrend still intact in the usdjpy. Also the yen tends to be tied to the movement of the Nikkei. Just my opinion.


JohnFX

I didn't trade the eur/usd because its in the middle of the trend lines I posted end of last week on the 4 hr chart. The usd/jpy was retesting 116.00 and appeared to be failing and getting ready for a pull back.
(as it did do slightly)
I don't trade any other pairs.

Dave
  • #223
  • Oct 24, 2005 5:16am Oct 24, 2005 5:16am
Elliot Wave International recently sent me a mail/advice. Translated for the pair USD/JPY => Sell the rumor; Buy the news. Well, that is what they are doing in Asia. With no economic report from Japan, people trade on what others are saying. I read 6 signals from different signal provider, they all recomended that the EUR should dip a bit below 1.1949 first and probably the USD/JPY should be bought after having touched 115.60 . Dave, you were right
  • #224
  • Oct 24, 2005 6:21am Oct 24, 2005 6:21am
Ref:

Originally Posted by JohnFX
I went to bed, but had to get up and post one more comment. Looking at your posts, Dave, I feel it's rather selfish and senseless the way you ...........................

I think you have been in the business for a long time JohnFX. Don't you feel that you are sitting in front of your PC and by the click of your mouse you had taken a fraction of someone's wages and decreasing the amount of food he/she could have brought to the table for the family. With your sucessive clicks you are sending them further each day to bed with a more empty stomach ! ! Man is basically selfish. If a day comes where you have to choose between yourself or your fellow Americans; you can guess who always come first.
I wrote to Diallist on my first day I joined this forum and I kindly asked his opinion. You can ask him what he wrote back in detail. In short " the fruit " I am not an American but I did not sit by the side when Katharina hit the Gulf. I did my very negligible bit and supported Lakewood Church to put up with some food. Let us keep that stone in our hand. We are all in the same boat. We were on the private line last night. Dave was surely not having any ill thought in that direction as you interpreted.

Listen, you can soon take out your checque book. The storm has arrived in Florida.





  • #225
  • Oct 24, 2005 6:24am Oct 24, 2005 6:24am
thanks highway..

I pulled trade where I did cause I cann't moniter the trade. It could still dip lower but I cann't tell. I'd like the eur to do something difinitive.

Dave
  • #226
  • Oct 24, 2005 11:39am Oct 24, 2005 11:39am
Quoting xxDavidxSxx
thanks highway..

I pulled trade where I did cause I cann't moniter the trade. It could still dip lower but I cann't tell. I'd like the eur to do something difinitive.

Dave
Well usdjpy did slip further to touch 115.04 and bounced. But I won't go long on USD until hurricane damage is assest.
If the damage is worse than expected the USD could fall more. If its less than expected the USD could bounce back to retest 116.00.
Major disasters such as hurricanes and terroristic threats can move the market alot.

There is no real direction in eur/usd so any trade I make will be small target.

Dave
  • #227
  • Oct 24, 2005 4:14pm Oct 24, 2005 4:14pm
Eur/usd
Pivot..1.1975

Entry order short @ 1.1970
s/l 1.1990
target: 1.1930 1st
1.1910 2nd
  • #228
  • Edited 4:27pm Oct 24, 2005 4:18pm | Edited 4:27pm
Quoting xxDavidxSxx
Eur/usd
Pivot..1.1975

Entry order short @ 1.1970
s/l 1.1990
target: 1.1930 1st
1.1910 2nd
When I cann't project a direction I just trade the daily pivot.

Dave

edit: a retest of 1.2000 could be a good entry for a short also
  • #229
  • Oct 24, 2005 5:09pm Oct 24, 2005 5:09pm
Quoting xxDavidxSxx
Eur/usd
Pivot..1.1975

Entry order short @ 1.1970
s/l 1.1990
target: 1.1930 1st
1.1910 2nd
trade triggered.
  • #230
  • Oct 24, 2005 5:51pm Oct 24, 2005 5:51pm
I Am Closing A Trade Each Time I Have 10 Pips Profit. I Then Wait For It To Go Up Again About 8 To 10 Pips And Re-enter Again Short. Seems I Get More Profit -pips This Way For Ths Evening.
  • #231
  • Oct 24, 2005 6:01pm Oct 24, 2005 6:01pm
The EUR finished higher at US$1.1979 in the absence of any major economic data from both the US and the Euro zone.

In the US, the White House has nominated Ben Bernanke as the new Federal Reserve chairman to replace Alan Greenspan when he retires in January 2006.

The market expects Bernanke will slowly but steadily increase US interest rate. On the back of Bernanke’s nomination, the USD strengthened and recovered from its losses earlier in the day

The USD/JPY pair ended lower today at 115.38 as it received profit taking at the psychological resistance of 116.00. The market will be focusing on the trade balance due for release on Wednesday. The next support level is seen at around 114.80.

Gold finished lower after a choppy session and as oil price softened.

Silver finished at US$7.66/69.
  • #232
  • Oct 24, 2005 6:43pm Oct 24, 2005 6:43pm
[just Noticed Macd And Price - Divergence
  • #233
  • Oct 24, 2005 6:56pm Oct 24, 2005 6:56pm
Seems We Have To Expect Better Pip Margin On Other Pairs ?
  • #234
  • Oct 24, 2005 8:49pm Oct 24, 2005 8:49pm
I am worried about momentom here. I got a change in signals on my charts and I think the dip is done. For now.
PT:1.1962 +5 pips

Also the usd is pulling back on the other currancies.

I don'tlike this range

Dave
  • #235
  • Oct 24, 2005 8:55pm Oct 24, 2005 8:55pm
On the 30 min charts I got the stochs curving up out of over sold. And RSI starting to peek above 50 line.

I will reenter at the top trend line.

Dave
Attached Image
  • #236
  • Oct 24, 2005 9:50pm Oct 24, 2005 9:50pm
4 hr chart could be showing downtrend reversal on a large scale. Not trading yet but will post analisys chart. in a min.

Dave
  • #237
  • Edited 10:22pm Oct 24, 2005 10:04pm | Edited 10:22pm
Quoting xxDavidxSxx
4 hr chart could be showing downtrend reversal on a large scale. Not trading yet but will post analisys chart. in a min.

Dave
On the 4 hr chart The top trend line has remained true for most of the month. While the bottom trend line takes regular turns to the up side. If you zoom in MACD is crossed over into the "buy" side. The bounce off 1.1950 confirms bottom trend line from last dip. A break above 1.2040/50 range and a close above on the 1 hour chart will be a good "Bull" signal. A daily close above is even better. A break above each previous high the last one being 1.2204 would confirm the long term trend reversal.
If this hold to be true then I am staring at a great entry spot now at 1.1950.
I am going to check some more theroys I have learned and see what the common conclusion is.

Dave

edit: MACD on daily is in "buy" but I don't get a "buy" on daily RSI yet(close).

Long @ 1.1957
s/l 1.1935
target open (pending test of top trend line.)

wow I entered and then edited to post it and it made its move while typing nice
Attached Image
  • #238
  • Oct 24, 2005 10:36pm Oct 24, 2005 10:36pm
Here is another chart 1 HR on the entry.

Stochs turning from over sold and RSI above 50 sugesting a retest of first trend line top of the wedge at 1.2000. A break above 1.2020 targets top trend line at 1.2050

Dave
Attached Image
  • #239
  • Oct 25, 2005 3:30am Oct 25, 2005 3:30am
Great trade Dave. I picked it up @ 1.1945 at the bottom of my 30 min bollinger band.
Always wait for the opportune moment… just be careful not to miss it.
  • #240
  • Oct 25, 2005 7:09am Oct 25, 2005 7:09am
Back on track - Divergence corrected with 20 pips - What is next ?
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