DislikedWell, here I am at Narita International aiport.
Managed to get my laptop online at the hotel and am looking for a setup.
Looks like we may be getting one on EUR/USD.Ignored
- #5,941
- Sep 4, 2009 1:38am Sep 4, 2009 1:38am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #5,943
- Sep 4, 2009 1:49am Sep 4, 2009 1:49am
- Joined Sep 2008 | Status: Trader | 2,298 Posts
Starting to see instead of just looking.
- #5,944
- Sep 4, 2009 2:14am Sep 4, 2009 2:14am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #5,945
- Sep 4, 2009 3:48am Sep 4, 2009 3:48am
- Joined Sep 2008 | Status: Trader | 2,298 Posts
Starting to see instead of just looking.
early shorts was not trigger.
g/u setup? anyone getting on it.
EP @ 1.6353 (right above weekly pivot)
TP @ 1.6390 - few pips below weekly 61,8 fib lvl
But again, the price is messy and its going up having hard times.
Regards,
snu
- #5,949
- Sep 4, 2009 4:24am Sep 4, 2009 4:24am
USD/CAD
Been in this one since earlier this morning.
Perhaps at a good point now to take some profit, but downtrend looks good so might try and ride it down to the lower SHI Channel line.
Any thoughts?
Leo.
i will take some profit as it hit the previous Low. and set the rest to BE and see how it goes.
nice trade u got
trade safe 
i will take some profit as it hit the previous Low. and set the rest to BE and see how it goes.
nice trade u got
A quick question to all if that's alright.
When looking and watching different setups play out it often seems that a good location to close out a trade is when it nearly reaches the SHI Channel, nearly always this seems to work very well. It also makes the R:R look a lot more meaningful too.
I was wondering, how many Sonic traders mainly prefer to use the SHI Channel trend lines as TP areas over other areas like pivots and S/R?
Maybe this is the exit strategy some of you folk use to catch those mega 100+ pip trades. Forgive me for sounding like a dummy but i feel like i've been missing something here in the Risk:Reward section.
Thanks,
Leo
- #5,951
- Sep 4, 2009 5:09am Sep 4, 2009 5:09am
Thanks again ZZ for the comments. Much appreciated.
A quick question to all if that's alright.
When looking and watching different setups play out it often seems that a good location to close out a trade is when it nearly reaches the SHI Channel, nearly always this seems to work very well. It also makes the R:R look a lot more meaningful too.
I was wondering, how many Sonic traders mainly prefer to use the SHI Channel trend lines as TP areas over other areas like pivots and S/R?
Maybe this is the exit strategy some of you folk use to...
if u are still holding on to u/c trade. up coming news so do lookout for it!!
http://cdn.forexfactory.com/images/m...dar_upnext.gif 7:00pm CAD
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cheers
trade safe
it depends on how the PA looks to me. I often choose S/R but the best would be both SHI channel and S/R giving u the same indication.
if u are still holding on to u/c trade. up coming news so do lookout for it!!
http://cdn.forexfactory.com/images/m...dar_upnext.gif 7:00pm CAD
Employment Change
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Thanks. I see what your saying. Confluence works wonders.
I was just pondering though how some traders were taking what seemed to me like outrageous moves from this strategy, many of such trades broke through multiple S/R levels as well as pivot levels too. From my reading through the rest of the thread, it looks like a lot of people adopted the 'lock-on target' approach. They just entered the trade and if there did not appear to be any major levels or hurdles in the way then they would just sit and wait till the trade just reached the SHI Channel, then exited. I'm not really looking for the, "well you need to use discretion" kind of answer, but just wanted to hear peoples thoughts on how viable this SHI trend line exit method is if it were used most of the time.
Closed the other half of U/CAD after the news burst for an extra 40 pips.
Leo
- #5,955
- Sep 4, 2009 7:09am Sep 4, 2009 7:09am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
- #5,957
- Sep 4, 2009 7:29am Sep 4, 2009 7:29am
- Joined Feb 2009 | Status: Trading in the Zone | 1,766 Posts
gd mornig DD h r u doing ?
We will see. I'm watching price, watching the dragon, and waiting to see if price gives us a chance to ride the dragon today.
You had another good week I see from your posts. Well done, Muhammad. It shows how easy trading can be if you work hard, study hard, and stick to your rules. Of course, that is a lot of hard work to make it easy
.Good luck today!
