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Attachments: 1 hr HAMA, 6 ema
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1 hr HAMA, 6 ema

  • #61
  • Dec 7, 2009 8:41am Dec 7, 2009 8:41am
Quoting stunna29
..do you use market order or a buy and sell stop?.
Market orders.
  • #62
  • Dec 7, 2009 11:48pm Dec 7, 2009 11:48pm
We are below 1 hr 21 ema so I'm looking for sell opportunities.

In view of the doji yesterday on daily I would not be surprised if we head up today at some point.
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  • #63
  • Dec 8, 2009 4:21am Dec 8, 2009 4:21am
I missed the shooting star sell at 6425. Got 2 sells in below 6400, first was taken out at BE the 2nd worked out quite nicely. 3rd sell was after the news and it didn't follow through, a small win.
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  • #64
  • Dec 8, 2009 7:29am Dec 8, 2009 7:29am
Quoting Vantage
I missed the shooting star sell at 6425. Got 2 sells in below 6400, first was taken out at BE the 2nd worked out quite nicely. 3rd sell was after the news and it didn't follow through, a small win.
what"s up Vantage?..i got two short on the G/u..the first one i got in at 1.63881 was up +50 and greed got the better of me..should have aleast take some profit off the table but i try to shoot for 80 and you could guess what happen next..it turn around..i was able to get out at break even.Got i nice re-entry at 1.6364 at got my +50 ( and take it quick ).How is it going on your end?
  • #65
  • Dec 9, 2009 1:48am Dec 9, 2009 1:48am
Quoting stunna29
what"s up Vantage?..i got two short on the G/u..the first one i got in at 1.63881 was up +50 and greed got the better of me..should have aleast take some profit off the table but i try to shoot for 80 and you could guess what happen next..it turn around..i was able to get out at break even.Got i nice re-entry at 1.6364 at got my +50 ( and take it quick ).How is it going on your end?
This is my analysis from earlier this morning posted on the psych levels pivots and TL's thread.

"Will we break the daily lower TL today. I think so. I've put 2 possible psych levels from previous turn points on D chart. there are also a couple of W/M pivots in area 6175.

We'll see what FH brings.

I have to take some family to the airport so Mrs V is in charge this am".
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  • #66
  • Dec 9, 2009 1:51am Dec 9, 2009 1:51am
My last post at same thread:

"Not that long ago Mrs V didn't know the difference between a lie and a fibhttp://cdn.forexfactory.com/images/s..._the_floor.gif.

Our analysis is above. Mrs V sold the lower high close at 6253, exit 6184 when the Ms1, 38% ext held for the 2nd time. Way to go Mrs Vhttp://cdn.forexfactory.com/images/s...m/applause.gif".
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  • #67
  • Dec 9, 2009 1:56am Dec 9, 2009 1:56am
Quoting Vantage
This is my analysis from earlier this morning posted on the psych levels pivots and TL's thread.

"Will we break the daily lower TL today. I think so. I've put 2 possible psych levels from previous turn points on D chart. there are also a couple of W/M pivots in area 6175.

We'll see what FH brings.

I have to take some family to the airport so Mrs V is in charge this am".
You funny ..jus take some profit off that one +50 in at 1.6253,had to wait untill it break the WS1 line got out at 1.6203.Now it's holding support line at 1.6183..waiting for it to retrace before i consider re-entry.
  • #68
  • Edited 2:20am Dec 9, 2009 2:01am | Edited 2:20am
We are slowly but surely getting better at letting trades run. We try to look at ATR, and what we see as the likely key levels. In this case as shown above we saw 6177 as first tough area and then 6133. As a general rule of thumb we are trying to see runs of 125-150 pips as exit areas and then deduct from that where we got in on the move.

GU has had a big run down over a few days now so in this case the first target is bang on. At this stage the run down was around 100 pips. Close enough to our 125 rule of thumb also considering the size of move over last few days.

Oh some other points well worth mentioning. See the 15 min chart. The point marked 1, the green candle pushing up to 6275. The vol is higher but then theres no follow through and vol lower on the next lower close candle. Also helped with the decision to sell.

Also the very high vol hammer push up to 6200, stopping vol, yes it seems at least for now. That kept us out from a re-entry below 6200 that would no doubt have been a small losing trade for us.
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  • #69
  • Dec 9, 2009 2:05am Dec 9, 2009 2:05am
Just wanted to chuck this 4 hr updated chart in, it shows clearly after a decent sized move the importance of the W and M pivots.
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  • #70
  • Dec 9, 2009 2:16am Dec 9, 2009 2:16am
"Not that long ago Mrs V didn't know the difference between a lie and a fibhttp://cdn.forexfactory.com/images/s..._the_floor.gif.

Our analysis is above. Mrs V sold the lower high close at 6253, exit 6184 when the Ms1, 38% ext held for the 2nd time. Way to go Mrs Vhttp://cdn.forexfactory.com/images/s...m/applause.gif".

Whilst the above is obviously a joke its also raises a pretty interesting point. Mrs V does not know 90% of what anyone that would count themselves as a serious trader knows. But she can make money from this method, OK admittedly once I've done the analysis on likely target areas etc.

She knows above/below the 1hr ema. She does know shooting stars/hammers, higher lows and lower highs and a little more but no way is she more than a newbie. If she can do it from this simple idea can someone else? I think so.

Do I count myself as a genius trader, absolutely NO WAY, in the grand scheme of things I'm just past newbie myself and I've been trading full time for some 2 years plus.
  • #71
  • Edited 3:11am Dec 9, 2009 2:46am | Edited 3:11am
I've added the DeMark auto draw TL indi that I use onto 1st post.
  • #72
  • Dec 9, 2009 3:09am Dec 9, 2009 3:09am
I've also updated the first post remarks with perhaps the most important issue. Typical trades are 50-100 pips with a 15 pip stop. Success rate is high (trading with short term trend and using a higher low/lower high off 5 min for final confirmation) with a great risk reward ratio.
  • #73
  • Dec 9, 2009 5:00am Dec 9, 2009 5:00am
Quoting stunna29
You funny ..jus take some profit off that one +50 in at 1.6253,had to wait untill it break the WS1 line got out at 1.6203.Now it's holding support line at 1.6183..waiting for it to retrace before i consider re-entry.
Hope you catch this long..+50..so ok that's it for me +100 pips for the day..need to take a nap.
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  • #74
  • Dec 9, 2009 7:32am Dec 9, 2009 7:32am
Quoting stunna29
Hope you catch this long..+50..so ok that's it for me +100 pips for the day..need to take a nap.Attachment
Great trading, very nice.

No computer was off. I have family moving in with us for a while, was helping with the moving. I thought after that big move up it was probably done for a while until US session.
  • #75
  • Dec 9, 2009 9:49am Dec 9, 2009 9:49am
Quoting Vantage
Great trading, very nice.

No computer was off. I have family moving in with us for a while, was helping with the moving. I thought after that big move up it was probably done for a while until US session.
Thanks..
  • #76
  • Dec 9, 2009 7:05pm Dec 9, 2009 7:05pm
Good work, Vantage...
Congratulations...
i like working TF D1, i can applies this method?
  • #77
  • Dec 9, 2009 11:48pm Dec 9, 2009 11:48pm
Quoting zeCarvalho
Good work, Vantage...
Congratulations...
i like working TF D1, i can applies this method?
You could but because its D time frame you could wait a long time for a trade so you'd have to watch a lot of currencies. Then theres the question of stops, on a D timeframe they'd need to be massive. To reduce them you'd need some kind of shorter timeframe trigger.

You'll need to get some kind of idea how it works on D. If this how you want to work you'd need to do some homework, chuck on a D chart and go back to find uptrend, downtrend and sideways market. See what your success rate would be and the stops needed. Compare the D entries with say a 1hr entry.

Good luck.
  • #78
  • Dec 9, 2009 11:55pm Dec 9, 2009 11:55pm
Looking for sells again.
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  • #79
  • Dec 10, 2009 12:20am Dec 10, 2009 12:20am
Quoting Vantage
Looking for sells again.
15 min vol not quite playing along for a sell as yet and theres also 5 and 15 min rsi divergence also an issue. So no sells yet.
  • #80
  • Dec 10, 2009 4:39am Dec 10, 2009 4:39am
ok... thank you
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