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My trades by Dave

  • #241
  • Oct 25, 2005 5:43am Oct 25, 2005 5:43am
Please note : Time on my charts is European Time - not GMT
  • #242
  • Oct 25, 2005 9:17am Oct 25, 2005 9:17am
Quoting xxDavidxSxx

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
Trade pulled at top trend line(1.2035) befor I went to work. I wasn't here for the break out.

+75 pips

All those dollar bulls got stopped out on that one.

I would now go long if it breaks past the last high point and go short on a failer but keep s/l tight. I don't have time to analize properly but trend is up untill it fails to further extend the high. You can go short @ 1.2099 and put s/l at 1.2120 and reverse at 1.2121.

Dave

And for any one that took a short on usd/jpy made nice profits.

My system specializes in recognising a reversal just so you guys know.
  • #243
  • Edited 9:52am Oct 25, 2005 9:27am | Edited 9:52am
I will short at 1.2087
s/l 1.2109
target open....trail s/l 10-15 pips


Or long at 1.2125<-------edit change long entry to 1.2125(1.2121 was the resistance on Oct 16th)
s/l 1.2085......but thats a big s/l for me so I might not put it there(its just the optimal spot per. the price movement.)

again target open with a 10-15 trailing s/l

Dave
  • #244
  • Oct 25, 2005 3:39pm Oct 25, 2005 3:39pm
I have market orders for the 2 trades which ever way it breaks.

Quoting xxDavidxSxx
I will short at 1.2087
s/l 1.2109
target open....trail s/l 10-15 pips


Or long at 1.2125<-------edit change long entry to 1.2125(1.2121 was the resistance on Oct 16th)
s/l 1.2085......but thats a big s/l for me so I might not put it there(its just the optimal spot per. the price movement.)

again target open with a 10-15 trailing s/l

Dave
  • #245
  • Oct 25, 2005 3:51pm Oct 25, 2005 3:51pm
I am looking at the daily charts and the eur/usd looks poised for a serious move up. But so many times it gave this same head fake.

Trend is neurtral but RSI on daily testing 50 line. The RSI cross over 50 line on the daily chart is a huge up trend signal and usually confirms the reversal.

Last test of the 50 line failed wich is good because its usually the second test that breaks and then "BOOM" it runs away.

Dave
  • #246
  • Oct 25, 2005 4:34pm Oct 25, 2005 4:34pm
FYI...100 day MA is at 1.2153 on the daily charts. Hoping for a break above that.

Dave
  • #247
  • Oct 25, 2005 5:44pm Oct 25, 2005 5:44pm
Hi dave, do you like you short trade if it triggers?

I"m not asking to try it on a real account, just wondering if you are confident on your short order.

Thanks for your posts
  • #248
  • Oct 25, 2005 6:00pm Oct 25, 2005 6:00pm
Quoting stricko108
Hi dave, do you like you short trade if it triggers?

I"m not asking to try it on a real account, just wondering if you are confident on your short order.

Thanks for your posts
I remain neutral about both directions(emotionless).Up is just as good as down at this point.

All my trades are on a real account, I dunno if thats what you meant.
If I post a trade then I am pretty confident in it. If that confidence changes I'll pull trade, and post why like yesterday.

Dave
  • #249
  • Oct 25, 2005 8:30pm Oct 25, 2005 8:30pm
hi Dave:
been following your observations for a while.
i've learnt a lot from your observations and trades. thanks
i understand you jst trade US session, what time zone are you in (EST?),
cos most of the times i missed your post and read it the next day.
do you trade early UK session too, or just when US session starts?
also, which book do you recommend to read for doing observation like you been doing?
thanks a lot
  • #250
  • Oct 26, 2005 1:53am Oct 26, 2005 1:53am
Quoting hlauw
hi Dave:
been following your observations for a while.
i've learnt a lot from your observations and trades. thanks
i understand you jst trade US session, what time zone are you in (EST?),
cos most of the times i missed your post and read it the next day.
do you trade early UK session too, or just when US session starts?
also, which book do you recommend to read for doing observation like you been doing?
thanks a lot
Actually I sit down to trade at the end of US session @ 5pm EDT. I have a day job. But best time to trade is london session but I cann't be awake all the time for that.
I set the alarm this morn for it though.
There not just one book you can read I have read several e-books. I recomend googling FOREX and read all the free materal you can find. Learn as much about the Elliotte Wave principle as you can.

Dave
  • #251
  • Oct 26, 2005 1:57am Oct 26, 2005 1:57am
Quoting xxDavidxSxx
I will short at 1.2087
s/l 1.2109
target open....trail s/l 10-15 pips


Or long at 1.2125<-------edit change long entry to 1.2125(1.2121 was the resistance on Oct 16th)
s/l 1.2085......but thats a big s/l for me so I might not put it there(its just the optimal spot per. the price movement.)

again target open with a 10-15 trailing s/l

Dave
zig zag triggered both trades. First was the long...trailing s/l hit for -10 pips.
shourt trade trailing s/l hit for +1 pip.

It didn't have a good strong follow through on either.
Bias is down for now. Looking for a break of last low point or break of last high point for a direction and an entry.

Dave
  • #252
  • Oct 26, 2005 2:36am Oct 26, 2005 2:36am
I am experimenting with the trailing stop. I haven't used it untill 2 days ago.
I want it to be at a spot to minimise losses on a head fake like the break up was,but still keep me in for the real move. And be able to place a trade above/below consilidation and be good either way it goes. Didn't work this time. Did keep losses to -9 though.

Dave
  • #253
  • Oct 26, 2005 2:49am Oct 26, 2005 2:49am
1.2051 is daily pivot

I will short on a break there or long on a bounce.

Dave
  • #254
  • Oct 26, 2005 4:13am Oct 26, 2005 4:13am
hi Dave,

If I'm counting the Elliott waves correctly, it seems to me this thing will go up in the coming days; is that your take as well?
  • #255
  • Oct 26, 2005 9:25am Oct 26, 2005 9:25am
Quoting bluemeasure
hi Dave,

If I'm counting the Elliott waves correctly, it seems to me this thing will go up in the coming days; is that your take as well?
Yea but on the weekly chart It could go down as a wave 3 at any time.(a break below 1.1864)
I agree though it looks like on the 1-4 hr charts as this side ways action is wave 2. A break of 1.2135/40 sustained would be confirmation. But wave 2 can retrace further befor going up so I'm sidelines until move is defined.

Dave
  • #256
  • Edited 9:45am Oct 26, 2005 9:36am | Edited 9:45am
Here is EW count on 4 hr chart... Reason I don't trade now is breaks of support/resistance/pivot has gone nowhere. I almost entered on break of pivot but didn't. Mabe if it gets down to that bottom trend line I'll long on a bounce.


Dave
Attached Image
  • #257
  • Oct 26, 2005 10:35am Oct 26, 2005 10:35am
Hi Dave,
i was just looking quickly at your count and had a few questions as I cannot seem to verify the internal or external counts to fit... (?)

What phase of supercycle is this your count based in ? Also regarding the wave which you have labled as 1-5, your waves 2 and 4 overlap.. shouldnt this constitute a corrective ABC pattern which would fit the proper ratios, and fits the next higher count? The move outside the downward channel should signal the beginning of a 5 wave impulsive move higher, which would yeild the below count.


http://img375.imageshack.us/img375/5677/eurwave6tj.png
Lastly, (and i dont mean to split hairs but...) why is your target labled as "2" with a "1" next to the "c" .. shouldnt this wave 1 following the corrective pattern?

Rgds..
  • #258
  • Oct 26, 2005 3:45pm Oct 26, 2005 3:45pm
Points Pivots

EUR/USD
R3 : 1.2211
R2 : 1.2174
R1 : 1.2121
PP : 1.2084
S1 : 1.2031
S2 : 1.1994
S3 : 1.1941

GBP/USD
R3 : 1.7983
R2 : 1.7924
R1 : 1.7835
PP : 1.7776
S1 : 1.7687
S2 : 1.7628
S3 : 1.7539


EUR/USD
R3 : 1.2211
R2 : 1.2174
R1 : 1.2121
PP : 1.2084
S1 : 1.2031
S2 : 1.1994
S3 : 1.1941


USD/JPY
R3 : 117.23
R2 : 116.57
R1 : 116.21
PP : 115.55
S1 : 115.19
S2 : 114.53
S3 : 114.17


USD/CHF
R3 : 1.2982
R2 : 1.2910
R1 : 1.2871
PP : 1.2799
S1 : 1.2760
S2 : 1.2688
S3 : 1.2649
  • #259
  • Oct 26, 2005 4:28pm Oct 26, 2005 4:28pm
Well I am not sure I am counting right. Its in a side ways pattern and we can be seeing an e,f,g/x,y,z, type of count.
But since the market can only do 3 things( up, down, sideways) and going side ways now then up, and down is the only thing left.

I am looking for break below 1.2048 or bounce off there. I really don't know what direction it's going.

Dave
Quoting dsvt1
Hi Dave,
i was just looking quickly at your count and had a few questions as I cannot seem to verify the internal or external counts to fit... (?)

What phase of supercycle is this your count based in ? Also regarding the wave which you have labled as 1-5, your waves 2 and 4 overlap.. shouldnt this constitute a corrective ABC pattern which would fit the proper ratios, and fits the next higher count? The move outside the downward channel should signal the beginning of a 5 wave impulsive move higher, which would yeild the below count.


http://img375.imageshack.us/img375/5677/eurwave6tj.png
Lastly, (and i dont mean to split hairs but...) why is your target labled as "2" with a "1" next to the "c" .. shouldnt this wave 1 following the corrective pattern?

Rgds..
  • #260
  • Oct 26, 2005 7:17pm Oct 26, 2005 7:17pm
I am just waiting to see how far this goes. USD gained jpy its pulled back now but the eur rally probly won't go past 1.2135 I'll wait for now.

Dave
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