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  • #12,801
  • Jul 28, 2009 10:08am Jul 28, 2009 10:08am
Quoting kk007
I can see it, but I think it is too risky for me.. look at the momentum hitting the S/R.. just not for me.

It is actually in downtrend. but at 1.6380-1.6405 looks like a place where price reversed quite a few times.
  • #12,802
  • Jul 28, 2009 11:06am Jul 28, 2009 11:06am
Quoting shiko
It is actually in downtrend. but at 1.6380-1.6405 looks like a place where price reversed quite a few times.
Has you taken this fading opportunity? It did reverse as you said, but when I see such strong momentum, I can't fade it. Would you?
  • #12,803
  • Jul 28, 2009 11:11am Jul 28, 2009 11:11am
I see a good level at cadjpy 86.00
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  • #12,804
  • Jul 28, 2009 3:05pm Jul 28, 2009 3:05pm
Quoting mikeokino
can anyone see a buy from 6455 on gbpusd? dont know how i can take a screen shot on the 4hr. hey red, sherm where are u guys?
I look in most days.
  • #12,805
  • Jul 28, 2009 7:23pm Jul 28, 2009 7:23pm
Quoting kk007
Has you taken this fading opportunity? It did reverse as you said, but when I see such strong momentum, I can't fade it. Would you?
Yes, I did. picked 15 pips. took long position at 1.6400.
  • #12,806
  • Jul 28, 2009 9:13pm Jul 28, 2009 9:13pm
Previous support & 50% fib retrace

http://i24.photobucket.com/albums/c2...hortjuly28.jpg
  • #12,807
  • Jul 28, 2009 9:29pm Jul 28, 2009 9:29pm
Quoting sam0182
Previous support & 50% fib retrace
I might look at 4200, Sam. Check the S/R on the 1H chart.
  • #12,808
  • Jul 28, 2009 10:00pm Jul 28, 2009 10:00pm
Quoting seattlerust
I might look at 4200, Sam. Check the S/R on the 1H chart.
Sounds good, I'll keep an eye on that. Thanks SR.

I really don't like the smaller range trade, you can cover two fib ranges with a difference of only a few pips.
  • #12,809
  • Jul 29, 2009 2:26am Jul 29, 2009 2:26am
Looking for 93.80

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  • #12,810
  • Jul 29, 2009 6:15am Jul 29, 2009 6:15am
Charts look messy. The price has been here for far too long. I speak of E/U, E/Y and G/U. It is getting harder to get some good S/R.

I am looking to go long at E/U 1.4075 to 1.4100 or go short at 1.4200.
G/U got stuck around 1.6350, but I have gut feeling better not to go long there. The pair looks like determined to break this level.
Just shorted E/Y at 1.3435.
Yesterday day spoiled by E/Y long trade. The funny thing is it hit stop loss then happily went to my target price.
I actual;ly reduced my stop loss from 40 to 35 pips including spread. It is related to my reward/ risk calculations.
It is very rare thing that price comes back if it crosses 30 pips against me., so, my to waste few more pips. Usually, if position is right, it is no more than 20 pips against me and then profit or even just few pips.
  • #12,811
  • Jul 29, 2009 6:17am Jul 29, 2009 6:17am
G/U area around 1.6305-1.6290 looks decent for long trade.
  • #12,812
  • Jul 29, 2009 6:44am Jul 29, 2009 6:44am
See attached
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  • #12,813
  • Jul 29, 2009 12:10pm Jul 29, 2009 12:10pm
hi shiko,

Have you faded any EU level today?

cheers,
kk

Quoting shiko
G/U area around 1.6305-1.6290 looks decent for long trade.
  • #12,814
  • Jul 29, 2009 1:27pm Jul 29, 2009 1:27pm
Quoting kk007
hi shiko,

Have you faded any EU level today?

cheers,
kk

Amazingly no When it was a chance to fade it around 1.4100 it was 8:00 and 30 minutes before news release. I stayed flat. When it was at 1.4025, I was in Gym
But I did faded G/U short at 1.6458, took 12 pips, it went down a lot more...
Before this faded E/Y also short trade at 134.24. same thing 12 pips and it went a lot more. Looks like more than 200 pips potential, but at the moment I am not looking at this. I need to learn to stay in trades and I am improving/. calculated that with this way of trading the best T/P is 12 pips and stop loss is 35 pips. After I am done with this. Will be closing 80% of my position and let 20% leave to see if I get a runner.

Actually, I am making statistics. More than 50% of my trades go at least 50 pips in my direction.
  • #12,815
  • Jul 29, 2009 1:46pm Jul 29, 2009 1:46pm
Here are both trades:

http://img194.imageshack.us/img194/4373/euroyen.th.png


http://img265.imageshack.us/img265/4...ddollar.th.png
  • #12,816
  • Jul 29, 2009 2:49pm Jul 29, 2009 2:49pm
I know its after the event but after trading shite systems for the last two years seeing two s/r possible trades work like a dream gives me a buzz .. thanks BRV .
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  • #12,817
  • Jul 29, 2009 3:31pm Jul 29, 2009 3:31pm
[quote=sam0182;2901610]Hey Booker,

Nope...missed it. Saw it after it spiked up but there was no hope for an entry.

108.00-108.20 is my next level short spot...would really like to wait until we get up to 108.15-20 to be exact. S&R + 61% fib

I have to say, the recent ranging crap makes the shorter term levels easy (107., 1075, 108-108.2, etc)...but once that big breakout happens (and it's damn overdue), I want to make sure I'm not getting in the way of a train, you know

hope you didnt !!.. oil inventories sent dollar moving .. looks to be stalling at 1.0900 though. USD/CHF 4HR
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  • #12,818
  • Jul 29, 2009 3:57pm Jul 29, 2009 3:57pm
I missed my USD/CHF (slept through call alert) but wish I would have been there to take it...my TP is often 25-30 points and a 108.2 would have made for a nice short with limited drawdown (I think it went just above 108.3 before moving down).

Was stopped out on my first EUR/USD long at 140.7 but was able to long it again at 1.402, which looked to agree with USD/CHF 109.

As for now, I'm keeping an eye on 1.412 EUR/USD for a short...USD/CHF looks little more sloppy but watching for a long at 107.85.

Your thoughts on this?

Nice work on the UJ

[quote=booker66;2913800]
Quoting sam0182
Hey Booker,

Nope...missed it. Saw it after it spiked up but there was no hope for an entry.

108.00-108.20 is my next level short spot...would really like to wait until we get up to 108.15-20 to be exact. S&R + 61% fib

I have to say, the recent ranging crap makes the shorter term levels easy (107., 1075, 108-108.2, etc)...but once that big breakout happens (and it's damn overdue), I want to make sure I'm not getting in the way of a train, you know

hope you didnt !!.. oil inventories sent dollar moving .. looks to be...
  • #12,819
  • Jul 29, 2009 4:18pm Jul 29, 2009 4:18pm
Today gives us a short trade to follow
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  • #12,820
  • Jul 29, 2009 4:32pm Jul 29, 2009 4:32pm
Quoting Gambis
Today gives us a short trade to follow
Exactly. Nice chart Gambis.
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