DislikedTime to get back into the swing of things, posting charts and trying analysis with the group. I'm taking the whole week off so starting Monday its back to old times (You ready Dan?).Ignored
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DislikedTime to get back into the swing of things, posting charts and trying analysis with the group. I'm taking the whole week off so starting Monday its back to old times (You ready Dan?).Ignored
DislikedAmen!
Classical charting would put E/J in the mid 140's in relatively short order. Is this more of a statement about JPY or EUR??? I favor the former.Ignored
DislikedWell, for your first post, this is very encouraging and shows good observation skills.
The USDCAD BOSS pattern, on my data, is very similar to that described previously and was one of the reasons, plus the "V" bottom on the Worker, that gave me clues USDCAD was changing to an up trend.
The EURGBP BOSS is much weaker than the USDCAD BOSS by virtue that the bullish candle forming the double bottom has a longer wick meaning that the buyers were rejected at higher levels, at that time. The BOSS is also at the critical 61.8% fib retrace. As you...Ignored
DislikedThe handle - yes I get way too emotional sometimes and that's something I need to work on :-)
EURGBP - I see what you mean. Only the clean patterns that haven't shown that "it stopped going up" yet, right?
Does this also apply to EURGBP weekly candle ending May 8th that the preceeding DOWN weekly candle means the pattern is no good?
As to USDCAD and Dr Joe way of trading:
Does the pattern on weekly chart mean "close your shorts" because the BOSS doesn't want to go any lower BUT go long ONLY after/when Worker June 15 close gets higher than...Ignored
DislikedHas everyone seen this:
A major new National Futures Association (NFA) rule goes into effect on August 1, 2009. This rule affects all U.S. regulated Forex Dealer Members. Forex traders will no longer have the ability to place stop-loss or limit orders. Nor will traders be able to modify or close trades from the “Open Positions” window.Ignored
DislikedYou are in a position and Target 1 is 200-250 pips. You do your daily check of the charts at NY close and price is say 15-20 pips away from your target. Let's say you are over 90% of the way to your target.
Would you intervene and take the (slightly smaller) profit then or wait another day to see if you either reached the profit target or perhaps retraced 100 pips or more?
You could say - depends on what your trading plan says...
So the real question is: would your trading plan allow you to do this?
Anyone care to comment on this?Ignored
DislikedYou are in a position and Target 1 is 200-250 pips. You do your daily check of the charts at NY close and price is say 15-20 pips away from your target. Let's say you are over 90% of the way to your target.
Would you intervene and take the (slightly smaller) profit then or wait another day to see if you either reached the profit target or perhaps retraced 100 pips or more?
You could say - depends on what your trading plan says...
So the real question is: would your trading plan allow you to do this?
Anyone care to comment on this?Ignored
DislikedI posted my "quickie" USDJPY trade on this some time back. I think I was agonising about being 10 pips away from the target I had set when I was already rich in profit. I was beating myself up wondering what would happen when it dawned on me that I had let GREED overcome me. As soon as I realised I was running this trade on emotions (GREED) and not my PLAN, I closed the trade and took my profits. Then after, when I got back to "normal", I couldn't understand why I was beating myself up for a measly 10 rotten pips!
Whenever you are near your...Ignored
DislikedInteresting chart this one.
The shooting star may even have been too good for Bond.
62% retrace on the Weekly and quite extended so not surprising to see it reverse there. Anyone take that counter-trend short? It paid off quickly.
I have support at 1.87 and there is stong resistance at 1.94.
Will be looking for a retrace to 1.87 and then for PA for a long. It should meet up with the 20EMA around there somewhere. A little test under there could bounce off the 38% on the daily.Ignored
DislikedFirst post here, but I here Nicola talk about you all day (Hi nicola if you read this).
The above is so very truthful and we have all been there done that, more often than just the once. We react to our pleasure and pain emotions in these situations, but it is funny (well not really but bear with me) that we do the same thing when we are staring down the barrel of our SL coming close to being hit. We agonise over it at times, and we play it pip by pip, 10 , 9 , 8...Ignored