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  • #4,701
  • Aug 20, 2009 5:42pm Aug 20, 2009 5:42pm
Strat's new USDCAD GPS
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,702
  • Aug 20, 2009 6:07pm Aug 20, 2009 6:07pm
Quoting alter
....
What I was trying to ask, was about 1.7200 area on EURAUD and why it is not good S/R zone. It looks strong on the daily and weekly charts doesn't it?

alter
Please see post# 4649. Hope that helps.
  • #4,703
  • Aug 20, 2009 6:46pm Aug 20, 2009 6:46pm
For those that doubt the value of the Dynamic Support and Resistance Indicator, you should study NZDUSD.

Hint: Its not this chart
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,704
  • Aug 20, 2009 6:55pm Aug 20, 2009 6:55pm
A picture of beauty or is it a beauty of a picture?
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,705
  • Aug 20, 2009 7:12pm Aug 20, 2009 7:12pm
EURGBP BOSS knows what's going on

""For those that doubt the value of the Dynamic Support and Resistance Indicator, you should study NZDUSD.""

An even better example is EURGBP.

Again, its not this chart
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,706
  • Aug 20, 2009 7:15pm Aug 20, 2009 7:15pm
Quoting strat
Coil time, Alexandra?

Yes, that is my take...buying below 94

It's EURUSD that has me watching, though USDCHF is reassuring.

EURJPY continues to try my patience.
  • #4,707
  • Aug 20, 2009 7:26pm Aug 20, 2009 7:26pm
2005 DSRI
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,708
  • Aug 20, 2009 7:39pm Aug 20, 2009 7:39pm
Quoting Alexandra
Yes, that is my take...buying below 94

It's EURUSD that has me watching, though USDCHF is reassuring.

EURJPY continues to try my patience.
I'm sure the BOSS wants to tell you something
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,709
  • Aug 20, 2009 7:40pm Aug 20, 2009 7:40pm
Quoting Grimweasel
Craig - after my readings and knowing how much emphasis there is on TLs I can see that you have the major up TL missing from your chart.

Flick to a line chart and join up all the lows on your chart and extend it thru to the top of the chart.

Now see where that bond hammer sits - directly under that rising TL. Now this could be a test of the BO of that TL, so I would not long that pair unless I had convincing PA that told me it was back on trend - ie a Break above and then a test of that break.

PA is squeezed between that rising TL and your...

Thanks Grim and Strat,


You both make some very good points here. Not even three weeks ago i would have taken this trade, I am feeling better and better about my decision making and analysis every day thanks to this thread.
  • #4,710
  • Aug 20, 2009 7:43pm Aug 20, 2009 7:43pm
Quoting CrudeCraig
Thanks Grim and Strat,


You both make some very good points here. Not even three weeks ago i would have taken this trade, I am feeling better and better about my decision making and analysis every day thanks to this thread.
To read this, Craig, makes everything worthwhile - I hope you are not alone.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,711
  • Aug 20, 2009 7:51pm Aug 20, 2009 7:51pm
I don't have sufficient data on this pair to make a meaningful analysis
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,712
  • Aug 20, 2009 8:01pm Aug 20, 2009 8:01pm
Quoting strat
I'm sure the BOSS wants to tell you something

Indeed, that is the basis....but the Big Boss is arguing.....I have been waiting for the weekly closes on that and USDJPY.... I don't see E/J under 131 again any time soon - that was a tough obstacle to climb. E/J is always a test of wills - the swings are greater than they should be......but so are the profits.
  • #4,713
  • Aug 20, 2009 8:02pm Aug 20, 2009 8:02pm
Just lines or?
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,714
  • Aug 20, 2009 8:10pm Aug 20, 2009 8:10pm
Just don't have enough data
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,715
  • Aug 20, 2009 8:25pm Aug 20, 2009 8:25pm
Again, insufficient data but if this is accurate, the message is loud and clear
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15 YEARS OF PASR ON FOREX FACTORY!
  • #4,716
  • Aug 20, 2009 11:34pm Aug 20, 2009 11:34pm
Quoting Grimweasel
So, fouled up a cable trade so I thought I'd share it here.

Had a short on the break of the weekly S/Star...
I always employ a 4 hr veto on my dailys.....standard xx
  • #4,717
  • Aug 20, 2009 11:40pm Aug 20, 2009 11:40pm
cd
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  • #4,718
  • Aug 20, 2009 11:42pm Aug 20, 2009 11:42pm
Quoting Baba G
I always employ a 4 hr veto on my dailys.....standard xx
Are 4 hr vetos cheap in England? How do I hire one here in the US?

Or is it something to do with:

""
A veto, Latin for "I forbid", is used to denote that a certain party has the right to stop unilaterally a piece of legislation. In practice, the veto can be absolute (as in the U.N. Security Council, whose permanent members can block any resolution) or limited (as in the legislative process of the United States, where a two thirds vote in both the House and Senate may override a Presidential veto of legislation.)
A veto gives power, possibly unlimited, to stop changes, but not to adopt them. The influence that the veto conveys to its holder is therefore directly proportional to the holder's conservatism, broadly defined. The more the holder of a veto supports the status quo, the more useful the veto.

In which case, are you using H4 to trade the Daily? If so, then you are trading H4.

I'm puzzled and confused.
15 YEARS OF PASR ON FOREX FACTORY!
  • #4,719
  • Aug 21, 2009 12:29am Aug 21, 2009 12:29am
I told you this ages and ages ago......

Its an exit stratergy developed by MBQB11.It has always figured in my D1 trades.......let me give you a little refresh.

1.After a nice top down chart reading(M,W) find the D1 price bar and set your entry and stop loss at your % risk divided by the size of the bar i.e;

Deposit=£5000 1%=£50 £50div 250=£0.2 thats your pip value

2.Once the ticket is filled monitor the 4Hr chart and hope there is no strong price action against you.

3.If there is do something.

thats it.

Been running this live for the whole time ive been trading and its good.
Its helped me stay in for longer and cut my losses early or helps me take a little off the table when shes about to take it back.

Of course there are times when you miss a mamouth but they have been extinct for some time now.......bit like a nice sense of direction out there.

The stronger the confluance of top down price action in harmony with the D1 the less likly you are to get such a veto.......and when were in a trend run.......they just dont happen.........Oh the good old days.

hope this helps......xx
  • #4,720
  • Aug 21, 2009 12:52am Aug 21, 2009 12:52am
just more price action with help from the Monarch of the glen via Vanilla Ice.

If i see far its cause im standing on the shoulders of giants.......bless them all.

This is why i want you all to learn price bars........its a great base for everything.x

thats two 1;1s....so two wateva% up......now that pair can go to hell......

Price action is King......
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