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My trades by Dave

  • #381
  • Nov 13, 2005 8:27pm Nov 13, 2005 8:27pm
there is a double top on USD/JPY so it looks like 1.1700/20 is the next target. Provided there are no new highs.


Dave
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  • #382
  • Nov 13, 2005 9:10pm Nov 13, 2005 9:10pm
Dave, what are your thoughts on the EUR?

I am a big technical trader but I will look at this from a fundamental perspective. The EUR took a hit because of the riots, now the riots are over, I think it will rebound, and that hit it took can be looked upon as 'a gap to fill.'
  • #383
  • Nov 13, 2005 9:14pm Nov 13, 2005 9:14pm
Quoting xspowerx
Dave, what are your thoughts on the EUR?

I am a big technical trader but I will look at this from a fundamental perspective. The EUR took a hit because of the riots, now the riots are over, I think it will rebound, and that hit it took can be looked upon as 'a gap to fill.'
your right the eur could go up. But when I entered the trade it looked different so I am just following through.
Going long on a break up would be good just beware of false breaks.

Dave
  • #384
  • Edited 9:31pm Nov 13, 2005 9:17pm | Edited 9:31pm
Quoting xxDavidxSxx
your right the eur could go up. But when I entered the trade it looked different so I am just following through.
Going long on a break up would be good just beware of false breaks.

Dave
The only thing to confirm my reasoning behind it filling the gap is a trend reversal on the daily backed by the hourly... It will take a few days to determine.
  • #385
  • Nov 13, 2005 9:42pm Nov 13, 2005 9:42pm
Hi dave, i've been watching your thread for a while, it seems you are improving each day, i am learning alot from it.

If you get a chance could you pls answer this small question about the
7/10 system you use.

with the 7 EMA is there any other parameters you use, i have options such as
for price there is option to be on close, open, low, high, median price, typical price, indicator, or volume, the default is on close,
or should i just use fx streetcharting and use there default settings?
I currently use vt trader for the charting.

Also if it should be one of those settings, is it the same setting for the 10 SMA

Thanks for your time on this forum.


Thanks
Mr smith
  • #386
  • Nov 14, 2005 5:58am Nov 14, 2005 5:58am
Quoting xxDavidxSxx
short eur/usd

entry 1.1685

s/l 1.1740

target: 1.1590

chart commin in a few min.
stopped out -70 pips
  • #387
  • Nov 14, 2005 6:04am Nov 14, 2005 6:04am
Quoting Mr Smith
Hi dave, i've been watching your thread for a while, it seems you are improving each day, i am learning alot from it.

If you get a chance could you pls answer this small question about the
7/10 system you use.

with the 7 EMA is there any other parameters you use, i have options such as
for price there is option to be on close, open, low, high, median price, typical price, indicator, or volume, the default is on close,
or should i just use fx streetcharting and use there default settings?
I currently use vt trader for the charting.

Also if it should be one of those settings, is it the same setting for the 10 SMA

Thanks for your time on this forum.


Thanks
Mr smith
I dunno about the improving thing I havn't been doing well all month.

Vt isn't good for acurate ma's.

I use all kinds of methods such as double tops/bottoms, daily pivots, RSI24, and E-wave to name a few. The usd/jpy just defied the double top method. There was a lower high than the last yet it just shot up past it. And the eur/usd just spiked enough to nail some stops now its back where it was befor bed time. So the break up went nowhere either.

Dave
  • #388
  • Nov 14, 2005 5:23pm Nov 14, 2005 5:23pm
I belive I had the waves miss labled. Here is a revision of wave count on 4 hr chart.
Wave C, according to ew principle, can be 68% of the last wave 3. Wave B is at least 38-50% of A. So a rise above or near 1.1900/14 may be in order.

I am long eur/usd 1.1691
sl 1.1640

target: 1.1900 range.

trail stop as I go.

Dave
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  • #389
  • Nov 14, 2005 6:29pm Nov 14, 2005 6:29pm
Quoting xxDavidxSxx
I belive I had the waves miss labled. Here is a revision of wave count on 4 hr chart.
Wave C, according to ew principle, can be 68% of the last wave 3. Wave B is at least 38-50% of A. So a rise above or near 1.1900/14 may be in order.

I am long eur/usd 1.1691
sl 1.1640

target: 1.1900 range.

trail stop as I go.

Dave
Hi Dave.
let me ask one thing, wave B has to be minimum (38%of A) what about the maximum, it seem to me that B>A.
best regards
bea
  • #390
  • Nov 14, 2005 7:32pm Nov 14, 2005 7:32pm
don't know about max for waves. I belive theres just minimums.

Dave
  • #391
  • Nov 14, 2005 7:48pm Nov 14, 2005 7:48pm
I wish the price followed the rules exactly. But the price knows nothing about rules. It follows thses wave patterns blindly. As long as you can get the 3rd wave identified, you should be able to count the next few and possibly recognise a reversal.
This one wave 5 extends past wave 4 indacating down trend is in tact.
I was off on the wave count befor and paid a big stop for it. But I belive I got the basic wave pattern identified now.(I hope)
Wave C might not even extend 20% of 3. This trade I am currently in I will have to manage closly if it begins to move up because trend is down. Once it moves past 1.1700 and sustains it an hour or 2 I'll move s/l to -15.
Being in this trade makes me more awair of the market and to get in a short at the right spot can be rewarding.

Dave
  • #392
  • Nov 14, 2005 8:11pm Nov 14, 2005 8:11pm
Quoting xxDavidxSxx
don't know about max for waves. I belive theres just minimums.

Dave
I am not EW expert I just see this
http://www.surefire-trading.com/tsl/tl/tl-64.html

the trend in the 4 hours is formed from nov 4 , i hope the eur goes up to the 1740 area to sell it, now i am long @1695 with a very short sl @1670.
Good luck in this crazy Asia.
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  • #393
  • Nov 14, 2005 8:17pm Nov 14, 2005 8:17pm
Quoting bea
I am not EW expert I just see this
http://www.surefire-trading.com/tsl/tl/tl-64.html

the trend in the 4 hours is formed from nov 4 , i hope the eur goes up to the 1740 area to sell it, now i am long @1695 with a very short sl @1670.
Good luck in this crazy Asia.
I am sorry this is the right picture
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  • #394
  • Nov 15, 2005 4:41am Nov 15, 2005 4:41am
Hello Bea,

I hope you are not only on the EUR/USD pair. I have been with other pairs. TOPs does not show me entry on EUR/USD.
Yesterday GBP was interesting. See picture. Today, I am another +50 on GBP with a close trailing stop.
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  • #395
  • Nov 15, 2005 6:15am Nov 15, 2005 6:15am
Quoting highway3000
Hello Bea,

I hope you are not only on the EUR/USD pair. I have been with other pairs. TOPs does not show me entry on EUR/USD.
Yesterday GBP was interesting. See picture. Today, I am another +50 on GBP with a close trailing stop.
Hi highway

congratulations with the cable, how do you see it for today,?
could you explain a Little more about the entry point with the TOPS
thank you in advance
  • #396
  • Edited 5:20pm Nov 15, 2005 6:20am | Edited 5:20pm
stop hit -51 pips
resetting long
entry 1.1655

s/l:1.1615

target open
  • #397
  • Nov 15, 2005 8:35am Nov 15, 2005 8:35am
Hi Dave are you still long eur/usd.? now the figures are in.

Tux
  • #398
  • Nov 15, 2005 8:50am Nov 15, 2005 8:50am
Quoting bea
Hi highway

congratulations with the cable, how do you see it for today,?
could you explain a Little more about the entry point with the TOPS
thank you in advance
Hi Bea,

You can get more info on TOPS from dsvti’s thread. I believe dsvti is the creator of TOPS.
It’s a very nice tool to support your own system.
I wouldn’t use it by itself, but it can nicely support Dave’s 7/10 on 1hr or 4hr chart if you use the latest version improved by iso.
It didn’t give any signal for EUR/USD yesterday as highway3000 said; however I shorted it anyways based on a price action of
that pair, covered today after bounce off 1.1640/50.
I havent posted my shorts here, so I wouldn’t make you second guess your own long trade.

http://www.forexfactory.com/forexforum/showpost.php?p=27023&postcount=1

http://www.forexfactory.com/forexforum/showpost.php?p=27981&postcount=20
  • #399
  • Nov 15, 2005 9:23am Nov 15, 2005 9:23am
Raczek is right.
I will PM you something once I can get back to my PC.
My employees don't seem to be working independantly today.

Highway
  • #400
  • Nov 15, 2005 5:22pm Nov 15, 2005 5:22pm
Quoting Tuxedo
Hi Dave are you still long eur/usd.? now the figures are in.

Tux
I am still in. I had to reenter when stop was hit buy 1 pip.
All losses from last stop out recovered plus some. I want to hold posotion longer.

Dave
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