The System II (Yes with irony)

... in Australia you don't pay the gain tax from trading, only income tax annually, ... but there is many ways around ... ... still a lucky country ...

Am i the only shorter here, shorted at 1.4224

this is a valid 123 short isnt it

I love watching a trade just tick you in, then reverse to fast and feck you.

AQnwyas, now in a LONG according to FCR.

oh boy.. yes in some sense it is.. but look, market has already made his bearish move so your risking getting bottom picked.. thats why i stress so much about getting in early as the first chance given in each swing..

Actually, if you calculated I bet EURUSD has moved its past its avg daily range , so yeah, dumb trade. Sleep time, night night

forget the daily avg or other crutch analogies.. just trust and train your eyes as to read the price.. when you miss a ride on the first chance and again on the second chance and then witness a 80 piper ride.. then that 1-2-3 punch is exusted already.. so then you got to wait for a reversal or continuation after some range time then trade it of the bracket and treated as a whole new swing/trend..

SBR setup detected


AUS/AUD TF Daily (14-08-2009)




UPDATE AUS/AUD TF 1H (14-08-2009)

update aus/aud tf 1h (17-08-2009)

please do not display charts any other then E/U 5m timeframe..
I also recommend to read the whole thread before making any posts.
Thanks in advance.

Goodmorning to you guys from my homeland,
I am glad to be here bcz forex hours fits so well with this time zone.. I am able to get a full day of trading for the two major markets, London/NY and even some part of asian session if i get up early.. so looking to trade fulltime for the next couple of months atleast..
so.. what do you say to.. lets make some money together..

Todays recipe:
Draw your correct 123 and FCR lines, and trade each and everyone of them.. go for the kill fearlessly.. and practise expectancy to cut losers short and to widen your profit taking..
(spread the load wisley.. watch the R:R.. detach yourself from the money in your account).

Just got triggered long based on this FCR setup..
ok now I know that inital long reversal move is not much (12pips) and some of you might have a problem with that.. but price fail to break the LL and made double bottom H/L, now thats all i need to spot to tee off and test the FCR break.. lets see what happens now

http://cloud.forexfactory.com/images/attach/gif.gif

Ok guys it looks bad at the moment.. right?.. typical fakeout.. this is what i do now.. I wait to see how the price will react to the LL line if it ever gets there.. if it hits my sl, big deal I have speaded the load wisely and its a long day.. but if price pulls back to anywhere close to around my entery point I will exit without much hesitation.. unless.. and the only way I won't exit.. is.. if I get a clean convincing break of my entery and H/H point.. thats my game plan at this point..

http://cloud.forexfactory.com/images/attach/gif.gif

I just exited at breakeven as i had planed so.. price is stalling did not give me convinsing breakthough, I rather take my shot when it actually dose break the H/H.. now inside the bracket.. will trade off of the break on either way..
bottomline.. I took my shot.. got involved with a pretty nasty fakeout.. but, survived it.. with a bit of patience and PA reading..


http://cloud.forexfactory.com/images/attach/gif.gif

allright triggered for short based on bracket breakout.. keeping my SL away from heat.. if you wanna play it thight should be at 4156.. lets see what happens..


http://cloud.forexfactory.com/images/attach/gif.gif

good morning,
I'm with you FX. Just started a little bit later:

ok guys price has not much speed but slowly is moving in bearish direction, its semi stalling.. stay patience, you got nothing to lose, incase it breaks lose for a good short gain.. but if it pulls upward, hold your ground give it room up to FCR line at 4152 and see how it reacts to that area.. then think exit once it pulls to your direction again around B/E if it does not hopefully trigger your SL (sl at 4156)..

with this tactic you give a reasonable chance to your trade and at the same time not giving away much..

I'm out with +2pips. I'll wait for a better oportunity.

new FCR created at 4139.. thats the are to watch.. maybe make exit decision there to be safe and stop the damage..

nice job pipZ.. great observation.. your on your way to become star..

I already took mine on the first one..

http://cloud.forexfactory.com/images/attach/gif.gif