The College Trader

Hey guys, I have updated the chart here as I did enter a trade AFTER the risk event was over with a safe entry. I entered here after price was rejected 6 times at the mid line in the ascending channel. There was good correlation between all Usd pairs so I went short Gbp as well due to the fact that Great Britains economy has just about, if not more dim outlook than U.S. I went short Eur/Usd and Gbp/Usd at 1.4822 and 1.6450 respectively. I took 1/2 profit off the table already, but I am looking to add shorts soon with a safe, accurate entry.

Hey guys, whats up. I've held on to both of my shorts in Eur and Gbp. Right now what I am seeing is that the price is floating around the 50 fib here-no clear direction yet. If price fails to break the lower channel line, I will close my short and go long, but if price breaks that channel line I will add short. The two red lines signify current resistance and support that we need to pay attention to right now. I will update during London session.

hey guys, as you can look back in this thread and see that i drew this chart a while ago and ive been trading these channel lines for a bit now in the ascending channel and descending channel. I think it is a pretty solid trading setup. How I have been basing these trades depends on where price touches my trendlines and more importantly, price action at these intersections. I am waiting to go short again at 1.4737. Everywhere the ascending channel has crossed with tthe descending channel lines there has been a significant bounce at these " X"s.

Hey guys, how is everyone doing? This is what im seeing right now in market. I did buy Eur/Usd at the lower trendline from which i calculated by using the same slope as the current ascending trendline( yea who knew 9th grade math would pay off).Price action at this point indicated big bank buying so i entered. If price action rejects this at 1.47 i will close this position and sell, however if price action hangs around 1.47 it will most likely break through. I already took 1/2 profit off the table and I am looking for 1.4737 for final target, but it may not get there.


If we close today above 1.47, I believe that will give us a bullish signal for the next 2 weeks. To the downside, if we close below 1.47, it will give bearish signal.

Hey guys, I hope everyone had a great weekend. Back to the grind now. This is just a brainstorming idea I have right now, but I'll make a call later during London session. If price fails to break 1.4766 I will close my long that I did hold over the weekend and go short at that price. Let's see how price action behaves during the asian session.

The EUR/USD pair is at an interesting point right now, pretty much near the 1995 highs. I see strong resistance at 1.4956. When the pair enters the 1.4784-1.5511, things are going to get wild. I have a feeling that it's going to go down once it enters that range. I will definitely not make any moves until I see some bearish candles. Oct 18th may be the day of interest.

There's also a very very sloppy price pattern, but it does indicate a drop to 1.3925 (61.8 retrace) using today's figures:

dude were a ways away from 1.49............it might not be there for a while

1.49 is far, but let me qualify that: according to your H1 charts. 1.49 is a number on the weekly charts in which I identified the pattern. Of course, the larger the time frame, the larger the risk and so for that reason, the resistances and supports may seem ridiculous.

It does seem that traders are pushing the pattern's success despite its sloppy formation. I doubt it will complete within this week, but notice the candle's movements. Traders are certainly noticing the pattern and have begun to start identifiable selling pressure. HOWEVER, trader psychology rule #1, people will buy the rumor and sell the news, or in this case vice versa because there is a bear signal. On YOUR H1 charts, I am waiting to see a bounce upwards to about 1.4600 soon. Ultimate S/L should be at 1.4526

Just an update on the H1 chart in the above post. It's gone up the the 50% retrace line w/ a minor 43 pip profit. However, as it looks kind of weak near the 50% retrace, I would exit out of the majority of the positions now and expect a minor pull back of the pair if it does not break the 50% retrace. If it does break 1.585 it may go onto test the 61.8 retrace at 1.4600, our original target. It's a solid signal so there's a good chance it'll break the 50%, but I plan on doing English HW. Oh heck it's broken the 50% while I was typing this. Ok, run it up to 61.8 (up to maybe 59%) then guys aka 1.4600. BUT DON'T BE GREEDY! Try and exit before 1.4600 because crowd mentality = death. Expect a minor pull back but don't think of trading that unless you have balls of steel.

If you were trading the H4 chart pattern, it has now reached the 61.8 retrace. Don't be greedy and exit NOW I will submit a picture soon, I have English class right now.

Here is the earlier pattern:
The current price is 3 pips up from where I mentioned you should probably close positions. Note that the 61.8 is still unbroken, sure sign of resistance. +This thread is really quiet lol.

Yea sorry guys about lack of traffic on this thread in the past week. This was week 5-6 aka first exam week, had like 4 examinations( 2 econ 2 finance). But next week i have nothing so what i will be doing is posting all of my live trades in here as well as calls every couple of hours. I trade during all 3 sessions. As you can see from my previous posts, the only TF I usually trade is hourly, and my trades are very profitable with very low drawdown. Hopefully next week we'll really get some ppl in this thread sharing trades and ideas! Hope everyone has a kick ass weekend. GO BUCKS!!!!!!!!!!!!!!!!!!

Hey, this is a really flipping cool idea. If only I had known about forex while in college. I"m a senior engineer now in the biotech sector on the east coast, but went to college at Kansas State. Good luck guys. After 3 years... now catching my stride in forex, mentally and $. Not an engineer for much longer... 2010 is free and clear.

Just want to encourage you all to think clearly, and smart. If you can make this work, your life will be MUCH easier that most of the smucks out there now.

Direxiv.

Just an update to the last H4 pattern, once hitting the 61.8 retrace the pair just starts falling, down 23 pips from top of last candle. This post is just to indicate the accuracy of the signals: I can tell where it will move and where it will end, allowing for great money management techniques. Also, do not trade the drop after the pattern is finished. Though it usually always happens, we can't find risk/reward for it.

Hey did any of you guys bet on games this weekend? My picks were Navy, Oklahoma and Wisconsin...We'll see how they go

Hey guys, whats up? Hope everyone had a great weekend. Now its time to make some money this week. I just want to start off by posting this chart from a daily standpoint. Please do not be fooled by shorter TFs. We are definetly still in an uptrend of mentionable strength. Primarily, I will be looking to trade with the daily trend this week by attempting longs below 1.45 if those levels are touched. To the upside, I will try to sell any rallies that should be capped around 1.47. Im going to do a little bit of research tonight on correlation levels with other pairs( Usd/Chf, Usd/Jpy, Usd/Cad, Eur/Jpy) just so I can get a better bearing on levels for monday's trades. I will do an update during late Asian session when there is more liquidity in the market.

La sorbone Paris

Arizona State University here...Been trading for 3 years now, I'll be out of school May of 2010! Can't wait to go full-time again.

Hey thanks for joining guys! I appreciate it. Anyways what I'm seeing right now is flat market conditions with very high risk entries. Sometimes it is better to NOT trade in these conditions. This is true that I am making fewer entries, but I do not like any drawdown so I try to make entries with 7-10 pip accuracy and BE PATIENT the trades will come.
Most major pairs are pretty unbiased to the long or short side, so basically we are just seeing consolidation trading right now. I want to post this chart after I did a little bit of research last night. I found the H1 pivot to be at 1.4689, then after I looked a few places in the forex world, I found this to be in consensus with other views which made me happy. I think this level will be a critical point for the shorts. The market will be aware of this line and so should you. I will do update in a few hrs. See you then.

York University in Canada, been trading for almost a year now. This thread is a great idea, keep up the excellent posts