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Skracor's Thoughts and Journal of Trading

  • #101
  • Edited 8:06am Jan 8, 2010 7:36am | Edited 8:06am
Quoting behman8850
i cant see clearly your numbers on chart, Sir, will you please guide us your tgts in plain english numbers ? gbp can go down to what level?
Thanks for your help

I hope all realize I am not making any trade recommendations. I am merely making observations about what is happening and what I think may happen. This exercise is for my accountability and if anyone can gain a little insight by what I post that is great.

Only take trades that look good according to your own strategy! I have had the unfortunate experience of losing other peoples money before and I refuse to do that again! I won't have it on my head. That being said... Good trading to all and many pips to you Behman.

P.S. This post is not directed at you Behman. This is a general post for all that read this thread.
  • #102
  • Jan 8, 2010 8:40am Jan 8, 2010 8:40am
I know that remark was directed at me, and I will take your trade recommendations anyways. LOL

Have a great day, chat with you soon.
  • #103
  • Jan 8, 2010 8:57am Jan 8, 2010 8:57am
Quoting N2FX
I know that remark was directed at me, and I will take your trade recommendations anyways. LOL

Have a great day, chat with you soon.
Haha! LOL! Out of context, out of context. Love the way you think about major news. Next time one comes out I'm gonna watch real close and probably demo trade a couple. Wanna see how it comes out. Great trading today bro!
  • #104
  • Jan 8, 2010 9:52am Jan 8, 2010 9:52am
You have a picture on your avatar now, I guess when we make a bundle of CASHO, we can do that eh?

Enjoy, and don't let these GU long entries slip by you here soon.
  • #105
  • Jan 8, 2010 10:11am Jan 8, 2010 10:11am
Been seeing the wife and little girl off to grandma's house. Now I am back.

I see my original target to be tested is THE target it now looks at though it wants to turn and head topside.
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  • #106
  • Jan 8, 2010 10:46am Jan 8, 2010 10:46am
This market really is about repeating patterns. You just have to learn to identify them, then you will be successful.

I like the way Inzider described it. 'A Spacial Game'
  • #107
  • Jan 8, 2010 10:54am Jan 8, 2010 10:54am
Quoting N2FX
You have a picture on your avatar now, I guess when we make a bundle of CASHO, we can do that eh?

Enjoy, and don't let these GU long entries slip by you here soon.
I wanted everyone to know what I look like. You can try and guess which one is me.

I think Green pips make me giddy.
  • #108
  • Jan 8, 2010 11:13am Jan 8, 2010 11:13am
I don't know if this can be accomplished in the time we have left today. But, I would look for a trade long to be entered after Price enters the first test area.
I wouldn't want it to go to much below 1.5968 that would invalidate the trade in my opinion. If those two things happen I can see it moving to the 1.6050ish range to test the swing generated from the news. It may take a couple swings to reach that upper area, and that is why I am dubious that it will happen today.
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  • #109
  • Jan 8, 2010 11:44am Jan 8, 2010 11:44am
These are the kind of repeatable patterns that I am teaching myself to see. It took me awhile to come to the realization that they were there and I could trade them, but now that I am looking for them I am seeing them even in my sleep.

Description: Price failed to break out of the reversal zone, followed by a break to the downside during news. Price then retested the area it had broken out of and continued down. Simple right?
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  • #110
  • Jan 8, 2010 12:19pm Jan 8, 2010 12:19pm
I'm really kinda surprised I haven't had more comments on my charts. Not even a howdy do. Well time to eat and Hawaii Five-O is on.

See you next week.
  • #111
  • Jan 9, 2010 10:06am Jan 9, 2010 10:06am
Have a great weekend bro.

See you Sunday when market opens, should be some good stuff with the NFP from Friday.

I also sent you a pm.
  • #112
  • Jan 10, 2010 4:08pm Jan 10, 2010 4:08pm
So I was correct about two things. We didn't have enough time to get to the area that I thought price would reach, and price did move to that area immediately after open of the new week. Of course there will most likely be an attempt to fill the gap before continuing in whatever course they have determined.
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  • #113
  • Jan 10, 2010 6:23pm Jan 10, 2010 6:23pm
Did you plan on shorting the GU?

Your charts are showing areas of resistance, can you point out your entry once you start your trades.

Thanks
  • #114
  • Jan 10, 2010 6:34pm Jan 10, 2010 6:34pm
Quoting N2FX
Did you plan on shorting the GU?

Your charts are showing areas of resistance, can you point out your entry once you start your trades.

Thanks
I generally like to take Sunday night to acclimate to the market and allow it to calm down into a rhythm after the market open. So right now I am following the charts somewhat as I watch the AZ-GB game. I hadn't planned to take a short on the Cable, but I could see a viable move to the 1.6067 area at least. I am trying my best to include entries when I post so if I don't include them that most likely means I didn't have one.
  • #115
  • Jan 10, 2010 7:27pm Jan 10, 2010 7:27pm
Quoting Skracor247
I generally like to take Sunday night to acclimate to the market and allow it to calm down into a rhythm after the market open. So right now I am following the charts somewhat as I watch the AZ-GB game. I hadn't planned to take a short on the Cable, but I could see a viable move to the 1.6067 area at least. I am trying my best to include entries when I post so if I don't include them that most likely means I didn't have one.
Very smart, let the market go through at least one session (Asia) then it should show the areas to trade much clearer.

I will keep my eyes on your thread to see what your taking aim at.

What pairs do you watch?

I am back to EU GU UJ only.
  • #116
  • Jan 10, 2010 8:01pm Jan 10, 2010 8:01pm
Quoting N2FX
Very smart, let the market go through at least one session (Asia) then it should show the areas to trade much clearer.

I will keep my eyes on your thread to see what your taking aim at.

What pairs do you watch?

I am back to EU GU UJ only.
I watch GU EU UJ UC GJ EJ I have found that when it is difficult to read the price action of one of my main ones the others make up for it.
  • #117
  • Jan 11, 2010 6:21am Jan 11, 2010 6:21am
I find it interesting how PA can be so very predictable at times. I guess if it wasn't how could anyone place a trade with any kind of confidence?

Lately when I have been reviewing Indicator based Systems, I have been looking at the posted charts and asking myself a question. "Can I take the same trade without the indicators present?". I have found that in the vast majority of charts I look at I CAN find enough reasons to take the trade from PA and S/R alone, and I would often have a better entry than the system allows. I think the early entry comes from price itself. If an indicator lags behind price it will never be ahead of price when it comes to decision time. The statement I am making however doesn't include indicators used in a novel way(I'm not talking about changing the settings), moving averages as S/R for example, but that does ultimately become PA based.

Anyway that was a lot of talking for this early in the morning so I think I will be quiet for awhile.
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  • #118
  • Jan 11, 2010 9:47am Jan 11, 2010 9:47am
Well trading today is going to be little to none. Wife unexpectedly got called to work today so I'm watching the little one. Will instead trade Asia, and London Open. Looks like there were some nice opportunities to be had today.

Grabbed +5 on a Cable short from 1.6181 just after that my plans for today changed.

Good trading to you all. I'll be back.(Terminator was on last night)
  • #119
  • Edited 10:23am Jan 11, 2010 10:21am | Edited 10:23am
You mean you can't take care of your child and make a few more pips here and there?



Do post charts if you can squeeze a few minutes during the day, we can prepare the battle for Asia.

I am out all day, will be around during Pre-Asia or so.

Have a great day bro.

Note: UJ should dip down to 91.60 area in NY today, just what I am thinking here without really going into the charts.
  • #120
  • Jan 11, 2010 6:16pm Jan 11, 2010 6:16pm
I will be on in just a little bit. Going to prepare myself.
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