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  • #3,841
  • Jun 24, 2009 9:02am Jun 24, 2009 9:02am
Quoting Baba G
what a set up.... a selection of inside bars on the daily WITH a boss Ib.....

thats the kind of invitation a Knight just cant pass up......did u take it?

sorted........g
I lost interest in USDCHF when she went sideways after June 8th putting in some sort of double bottom. Let me know when she takes out 1.1000 and I'll look her up again.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,842
  • Jun 24, 2009 9:44am Jun 24, 2009 9:44am
Quoting elitejets
Well the US dollar sure has been confusing for a bit now, everyone enjoying the sideways stuff? No me neither. The weak commodities yesterday drove the dollar up rather than the other way around but today the dollar got battered again.

Tomorrow is the FOMC statement from Bernanke on how they see the economy progressing, further liquidity requirements and interest rates going forward.
This statement still has the potential to surprise so watch out. Any indication that the Fed will purchase further government bonds to further stimulate the economy...
Since there were no funny mentals yesterday to explain the sharp rise in EURUSD, I wonder if Bernanke's speech got leaked. Even if it did, I still don't understand the rise as everything I read and hear calls for more of the same - no change in interest rates and continued overtime for the $ printing press.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,843
  • Jun 24, 2009 9:58am Jun 24, 2009 9:58am
Strange how GBPUSD and NZDUSD got in bed together from the start of Q2.
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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,844
  • Jun 24, 2009 10:13am Jun 24, 2009 10:13am
Since the start of Q3, USDCAD and NZDUSD have started to go their own separate ways.

USDCAD is showing $ strength while NZDUSD shows $ weakness!

Another of the reasons why funny mentals drive me round the bend!

So, Crude Craig, since this is oil related and you want to get into funny mentals, over to you for the answers!
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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,845
  • Jun 24, 2009 11:34am Jun 24, 2009 11:34am
Hi Strat,

I have enjoyed reading your posts on Dr Joe. The last post I found was "Dr. Joe does electronic trading – Part I". Is there a Part II?

Thanks.
  • #3,846
  • Jun 24, 2009 11:35am Jun 24, 2009 11:35am
Quoting Baba G
what a set up.... a selection of inside bars on the daily WITH a boss Ib.....

thats the kind of invitation a Knight just cant pass up......did u take it?

sorted........g
Well I guess the SNB didn't like you buying their CHF so they decided to sell the bejabers out of it!

Hope you got out in time!
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,847
  • Jun 24, 2009 11:37am Jun 24, 2009 11:37am
Quoting steven21
Hi Strat,

I have enjoyed reading your posts on Dr Joe. The last post I found was "Dr. Joe does electronic trading – Part I". Is there a Part II?

Thanks.
Yes, when I can get all my notes together - it's just an update on current trading practices.
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,848
  • Jun 24, 2009 11:53am Jun 24, 2009 11:53am
Didn't realise Swiss cheese was so expensive until now - damn SNB - I hope they choke on their yodels!
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15 YEARS OF PASR ON FOREX FACTORY!
  • #3,849
  • Jun 24, 2009 4:13pm Jun 24, 2009 4:13pm
Quoting strat
Didn't realise Swiss cheese was so expensive until now - damn SNB - I hope they choke on their yodels!
Hello strat
What is wrong with the trade? You were already 200pips in profit, right?
  • #3,850
  • Jun 24, 2009 4:23pm Jun 24, 2009 4:23pm
Quoting alter
Hello strat
What is wrong with the trade? You were already 200pips in profit, right?
SL taken out
15 YEARS OF PASR ON FOREX FACTORY!
  • #3,851
  • Jun 24, 2009 6:27pm Jun 24, 2009 6:27pm
wow wot a move........

Im still in "take no prisoners" mode so it was all to target.....thank god...

untill we are back on trend(whats that) i shall keep this protocol........

and with a Fed rate crap chat anything can happen so even more reason to keep it safe....and i had a system overlay on this one so its loot all round and its my birthday........im 35 years old today....Bernanke....kiss me.....God save the Queen!
  • #3,852
  • Jun 24, 2009 6:44pm Jun 24, 2009 6:44pm
Happy Birthday Baba G!!

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  • #3,853
  • Jun 25, 2009 12:41am Jun 25, 2009 12:41am
Quoting strat
Since the start of Q3, USDCAD and NZDUSD have started to go their own separate ways.

USDCAD is showing $ strength while NZDUSD shows $ weakness!

Another of the reasons why funny mentals drive me round the bend!

So, Crude Craig, since this is oil related and you want to get into funny mentals, over to you for the answers!
Strat,

when i mentioned my intrest in knowing the fundies a bit more i mainly just want to be aware of what i may or may not be trading into! As you have stated this may be a big waste of time. I just feel a little uneasy sometimes not knowing whats really going on. For example look at what happened to the swiss pairs today. OMG those were some impressive moves!!

As for USD/CAD and NZD/USD,

USD/CAD is showing us some PA with a double high on the daily at the 1500 level, with trendline confluence.

NZD/USD is also up against some major resistance at 6500 with the 4th attempt at a break this month, It also seems to be obeying the Tl upwards also.

By the way oil is looking on the charts i think we may take another shot at 73, we are currently finding support on the 20 and i just think too many ppl are expecting the easy short whis SEEMS like it should be working.
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  • #3,854
  • Edited 4:27pm Jun 25, 2009 1:08am | Edited 4:27pm
I am currently in two long trades. Here is the first.
Long EURJPY yesterday on a break of the long tailed bar.

Reasons:

Big Boss:
Strong upmove which is a retrace of an even stronger down move from Aug 08. Overhead resistance at 20EMA and 50% fib to consider.

Boss:
Making higher highs. Cleared resistance at 133. Nice uptrend.

Worker:
Not a classic hammer by any means but I don't think that is so important. I will explain this in another post. What is important is the double bottom and the long lower wick. Orders have been cleared out there and the close was above the support at 133.
Supported by very strong lower trendline.
50% retrace
We are below the 20 but so have all of the other recent retraces been.

Stop loss below the entry bar. First target is 137 where I see resistance. Half off then and stop to BE. Exit remainder on price action.

This trade took out the entry nicely but then stalled and came back on me. Recovered a bit as I write this. There is resistance just below my entry price so we need to break through this first.

This trade is about BE as I write this. If 133 doesn't hold this may be a loser. If it does, it should do well. Either way it is just another trade.

The snap below is just after entry.
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  • #3,855
  • Jun 25, 2009 1:20am Jun 25, 2009 1:20am
hey pal why dont you tell us what you would have done regarding the management and we can talk about it....better for learning.....g
  • #3,856
  • Jun 25, 2009 1:22am Jun 25, 2009 1:22am
THANX DUDE.......i love it yum yum

funky dollr biws.....wanna slice?

its my screen saver for the weekend....thanxs so much!
  • #3,857
  • Jun 25, 2009 1:43am Jun 25, 2009 1:43am
Come on guys...its been a while since we had any action on the daily so lets rinse it for all we can....Surfer wanted to know how i managed it?Strat took a broad side(moment of silence please for our glorious dead)..............(thankyou)......

There are so many ways to skin a cat so lets get some info from you all(members only) on how you did/would/will skin this cat and we can all talk about it....and as no one is right or wrong it should make for some good learnin....so come on lets talk management......g
  • #3,858
  • Jun 25, 2009 1:45am Jun 25, 2009 1:45am
The winner can have a slice of my cake Naws made me!!!!!

yum yum
  • #3,859
  • Edited 4:09am Jun 25, 2009 2:43am | Edited 4:09am
Trade 2
Long AUDJPY

Big Boss
Strong up move from multi-month lows
High of this up move stopped at 50% retrace and 20EMA so need to be aware of this as we move up.

Boss
Higher highs and lows moving in nice channel. Bullish.

Worker
50MA has been support for last two touches. Nice trending channel trending up and 50MA support again.
50% retrace from last swing up.
Double bottom with pretty hammer.

Entry above hammer was taken out and has not retraced much since.
SL at 73.85 is below the low of the hammer and below the round number 74.
This trade is in the green as I write this. Had to clear 76 which it has done
Will take half off at resistance at 78 and move stop to BE.
If it makes it to 80 I will watch PA very carefully and will trail stop appropriately.

Snap below is at entry yesterday.
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  • #3,860
  • Jun 25, 2009 5:34am Jun 25, 2009 5:34am
Quoting Baba G
hey pal why dont you tell us what you would have done regarding the management and we can talk about it....better for learning.....g
Ha - sure birthday boy. I am not one to back down from a challenge.
You are just a young pup aren't you....

Just to be clear this type of trade is not in my plan. I saw price trapped between two horiz levels and moving sideways. I wasn't even looking to trade it.

I see this as a limited setup with an unacceptable RR ratio of under 1:1.
The 20 was flat. Perhaps it was a bear flag? The first target had to be the prior low. If an ATM trade then I would get out altogether where I have marked the chart.

Can I have another piece of Chocolate Cake? (Crowded House - 1991)

Surfer
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