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Craig Harris Stochastics Method

  • #781
  • Jan 18, 2010 2:02pm Jan 18, 2010 2:02pm
For you high TF guys,,,Heres an interesting look at the gpb/usd,,,On the 4 hour TF...Double top?..Stoch agreement?,,,Inside bar?....Enter,,, sell stop @ 1.6294,,,,,,stop@ 1.6381,,,,,,,,, 1stTP@ .6200,,,,thats around the 38.2 fib,,,2nd tp, .6150,50% fib,,,,,As always,,, Be prudent regarding lot size....Any opinions regarding setup?
Attached Image (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 59 KB
  • #782
  • Jan 18, 2010 2:30pm Jan 18, 2010 2:30pm
Regarding any trading setups,,,scenerios,,,,Or other information provided,,,,,,,,I want to make sure you demo trade until you are absolutley proficent in your trading skills..Do not go live until you can be consistantly profitable for at least 3 to 6 months ......I take no responsibilty regarding any trading losses,,,And I am not giving any investment advice,,,,,Regards,,,Piptalk
  • #783
  • Jan 18, 2010 3:39pm Jan 18, 2010 3:39pm
Piptalk,

great set up on the h4 for a swing looks real good. I really enjoyed your disclaimer. LOL...
  • #784
  • Jan 18, 2010 3:44pm Jan 18, 2010 3:44pm
Quoting piptalk
For you high TF guys,,,Heres an interesting look at the gpb/usd,,,On the 4 hour TF...Double top?..Stoch agreement?,,,Inside bar?....Enter,,, sell stop @ 1.6294,,,,,,stop@ 1.6381,,,,,,,,, 1stTP@ .6200,,,,thats around the 38.2 fib,,,2nd tp, .6150,50% fib,,,,,As always,,, Be prudent regarding lot size....Any opinions regarding setup?
Piptalk,

It looks very nice and potential as gbpusd does many 50 and 61.8 retraces which would give us even more pips, my chart which is IBFX shows a nice wick 4 candles back, as all platforms are set differently as for how time is accounted, but I also have a fxdd and fxpro demo account which shows the candle as you have it with a double top, another advantage to having a couple alternatives to see how other charts look, either way, this would be a nice set up, but tonight I will look for a nice short setup on gu and ej and hope to have a runner as I havent had that this week yet, but we are still nearer the beginning of the week than the end, so we have time to make nice pips lol, cya all later.
hlass
  • #785
  • Jan 18, 2010 6:44pm Jan 18, 2010 6:44pm
Hi,

eurusd set up for short on 15m and almost on 30m but very low volume so just an idea at the moment, remember trade under your analysis, not responsible for any money other than my own.
hlass
  • #786
  • Jan 18, 2010 6:47pm Jan 18, 2010 6:47pm
HLass, I agree and GU looks like rejection of yesterday high on m15...
  • #787
  • Jan 18, 2010 6:49pm Jan 18, 2010 6:49pm
[quote=bpips;3376314]HLass, I agree and GU looks like rejection of yesterday high on m15...[/quote


Yes sir, indeed, I am also looking at ej possible short as usdjpy is going down a bit too but there is just no push in the mkt just yet, maybe in 10-15 minutes.

hlass
  • #788
  • Jan 18, 2010 6:58pm Jan 18, 2010 6:58pm
Not sure about GU now big up candle but I dont think I would be buying at this level...
  • #789
  • Jan 18, 2010 7:01pm Jan 18, 2010 7:01pm
Something had to happen with the Dubai situation as jpy and eurjpy followed up pretty good in last 15minutes, there is still shakeout over there since money that was promised wasnt as big as first thought, dont know the numbers, but its been said that is considerably less than promised so we might get more shakeout this week from this crap.

hlass
  • #790
  • Jan 18, 2010 7:28pm Jan 18, 2010 7:28pm
Thx,,Hlass for the info...The 4h short trade posted earlier is now cancelled...Until further notice.....lol
  • #791
  • Jan 18, 2010 7:34pm Jan 18, 2010 7:34pm
Believe it or not, my bias is still short on gu eu and ej and gj and uj but its going to be a tricky week due to Dubai and so many other things, better to lock in profits this week I think, so I will be looking for 20-40pips if something goes longer I probably wont have much left of my position, as I really feel like locking in as much profits as possible this week.

hlass
  • #792
  • Jan 18, 2010 7:48pm Jan 18, 2010 7:48pm
Quoting HLass
Believe it or not, my bias is still short on gu eu and ej and gj and uj but its going to be a tricky week due to Dubai and so many other things, better to lock in profits this week I think, so I will be looking for 20-40pips if something goes longer I probably wont have much left of my position, as I really feel like locking in as much profits as possible this week.

hlass
Morning All! (its morning here in Malaysia)
HLass, i dont really understand what ure trying to say. Care to explain? Thanks!!!
  • #793
  • Jan 18, 2010 7:50pm Jan 18, 2010 7:50pm
Let the pair break the trendline,,,,look for downside at that point,,,Also ..Look at the bounce trendline below,,,,
Attached Image (click to enlarge)
Click to Enlarge Name: spike.gif Size: 62 KB
  • #794
  • Jan 18, 2010 8:01pm Jan 18, 2010 8:01pm
Hi PipTalk.

Ive entered on this trade on demo just before your post. Entered too early i suppose.
Attached Image (click to enlarge)
Click to Enlarge Name: gu 19012010 a -little too early.gif Size: 34 KB
  • #795
  • Jan 18, 2010 8:09pm Jan 18, 2010 8:09pm
Piptalk is correct on gu wait for the break of the trendline most definitely, but ej uj gj all bias towards a sell of each pair, just my thoughts, nothing more and nothing less, we all have our biases now dont we lol.

hlass
  • #796
  • Jan 18, 2010 8:17pm Jan 18, 2010 8:17pm
Quoting HLass
Piptalk is correct on gu wait for the break of the trendline most definitely, but ej uj gj all bias towards a sell of each pair, just my thoughts, nothing more and nothing less, we all have our biases now dont we lol.

hlass
Yes. That would be much more confirming on the next move. lesson learned.

By the way, how to determine the bias in the market?
  • #797
  • Jan 18, 2010 8:23pm Jan 18, 2010 8:23pm
Hi All,,,,The gpd/usd is notorious for spikeing then consolidating for awhile then spikeing again,,,My point,,,Go long on dips...Use discretion,,,Caution on shorts for now,,,
Attached Image (click to enlarge)
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  • #798
  • Jan 18, 2010 8:23pm Jan 18, 2010 8:23pm
Quoting jazman
Yes. That would be much more confirming on the next move. lesson learned.

By the way, how to determine the bias in the market?
Jazzman, to me a bias is just almost an opinion, you know what they say about opinions, lol after a bit of experience, one gets the feel about which way the mkt is going, not always followed though as I thought we would be long this week on certain pairs and they all went south, so we just have to watch the charts and do what they tell us, they tell a story and we must interpret them. I went with my gut and took the charts down to a 5m on eurjpy since things are slow, and took a 20pips trade that I still have a little bit of my position left.

hlass
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy 20 pips.gif Size: 26 KB
  • #799
  • Jan 18, 2010 8:42pm Jan 18, 2010 8:42pm
Quoting HLass
Jazzman, to me a bias is just almost an opinion, you know what they say about opinions, lol after a bit of experience, one gets the feel about which way the mkt is going, not always followed though as I thought we would be long this week on certain pairs and they all went south, so we just have to watch the charts and do what they tell us, they tell a story and we must interpret them. I went with my gut and took the charts down to a 5m on eurjpy since things are slow, and took a 20pips trade that I still have a little bit of my position left.

hlass...
Hi Hlass,,,So was trigger on your short the inside bar and the ob stoch? Nice trade!
  • #800
  • Jan 18, 2010 8:44pm Jan 18, 2010 8:44pm
Yeah. Thought of that. But I need clarification as it might be some lingo that I dont know about. Thanks~!!!

As you could see from my chart theres two 5 SMA (High & Low) lines as the Price Action Channels as per suggested by Synergy. The price is currently way above it which signals a very strong short term bull. But now a small consolidation is occurring and my current short position is -5p. I should have waited for it to break the short trend. Hmm... I think BUY on DIP after this would be the best. Using fib ret, im looking for an exit around 23.6% (1.6390) since I am already on that trade.

Please do comment if there's anything you might wanna add or correct.
Thanks~!

~ The volatility is very low...
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