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Daily candle chart

  • #9,901
  • Jan 21, 2010 3:11am Jan 21, 2010 3:11am
Quoting pj.waterloo
Hello Tony, Jhon, Baz, Cald & Seniors

I wish to have your comments about my trade which I took a short yesterday. The trend is down and now the candle is between SL and RL. What should a trader usually act to this?

Sorry I am being a newbie confused.. Close the trade? half trade?

I think I also am weak in setting the stop loss and target profit for Daily trades. Kindly guide.

Thank you so much for your time.
My advise......DONT TAKE A LOSS if you have been in profit,but as TMAC says,this is a LEARNING THREAD regards CandleStick Trading.....once Hussin is back,you will appreciate the teaching..

baz
  • #9,902
  • Jan 21, 2010 3:25am Jan 21, 2010 3:25am
Quoting baz
GBP_USD Spot.png

Hi John.....a happy NEW YEAR...
12 Hr Tf..is Conclusive....BUT there are obstacles...
Price have closed above the DAILY TRENDLINE,LITEFX GBP broke out ofits CHANNEL as well...and a rising TL is in PLACE as well....

baz
Learn to be patient......Location is EVERYTHING,supported by CONFLUENCE
Before and after...

GBP_USD Spot.png
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  • #9,903
  • Jan 21, 2010 3:44am Jan 21, 2010 3:44am
Quoting JhonMonsalve
Great trade Tony! I was remembering that you had troubles with Strat b/c of that, and now look at it!
Jhon
this is in noway adefence of STRAT,he can do that himself....BUT you must not forget,HE IS TEACHING OTHERs to trade and as safe as possible....
He does NOT SHOW his trades( there is a Good reason for that and i think that is correct )....BUT HE MAKES a SERIOUS amount of pips just trading daily and weekly charts...
there are a lot of SHARKS out there who will charge anything from $100 to $2000 to teach absouletly BULLSHIT....
Hence i respect the fact STRAT does it for NOTHING....but has TIME for others..
I too respect Tony as well.......but to each their own way..
Peace ....

baz
  • #9,904
  • Jan 21, 2010 3:56am Jan 21, 2010 3:56am
Yes Baz the pound may be due its turn for sell off ,but like you say did break up from consolidation down ,possibly just to confirm trend
Im going to watch the daily as current D1 engulfing
Attached Image (click to enlarge)
Click to Enlarge Name: gbp usd 21 jan 2010 weekly.gif Size: 16 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #9,905
  • Jan 21, 2010 4:05am Jan 21, 2010 4:05am
Quoting Bones
Yes Baz the pound may be due its turn for sell off ,but like you say did break up from consolidation down ,possibly just to confirm trend
Im going to watch the daily as current D1 engulfing
yes TONy,a close below 1.6200 will be BEARISH,BUT i think the EURO is a better pair to trade,CABLE is in a LARGE RANGE...and throws suprises..
I was waiting for some retrace on EURO.....but it did not oblige ...
take care

baz
  • #9,906
  • Jan 21, 2010 4:09am Jan 21, 2010 4:09am
Quoting baz
yes TONy,a close below 1.6200 will be BEARISH,BUT i think the EURO is a better pair to trade,CABLE is in a LARGE RANGE...and throws suprises..
I was waiting for some retrace on EURO.....but it did not oblige ...
take care

baz
sorry...here is the Weekly Range....if it BREAKS BELOW....we may see a seroius fall....
GBP_USD Spot.png
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  • #9,907
  • Jan 21, 2010 4:13am Jan 21, 2010 4:13am
should have really traded the EURO really.....but you cant change your "WIFE " when you feel like it......i married to Cable !!!!

EUR_USD Spot.png
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  • #9,908
  • Jan 21, 2010 12:23pm Jan 21, 2010 12:23pm
http://www.forexfactory.com/showpost...postcount=9861

that was an earlier post made. dollar will be confirmed rally once it brake out of the TL, take out the previous Lower high to form a new high, retrace back to TL and blast off

and price is doing same thing
so we see retracement on XXX/USD tomorrow before the final surge. i personally will be watching euro,cable to see how u guyz pip out looking at index.
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  • #9,909
  • Jan 21, 2010 12:40pm Jan 21, 2010 12:40pm
Quoting Bones
Great to have you back Tmac ,some order in the house which we need,any news on Hussin?
not since the last email no. Hoping to see him soon tho

In the meantime you guys have been fantastic.
Don't chase the market, Let the market come to you
  • #9,910
  • Jan 21, 2010 4:08pm Jan 21, 2010 4:08pm
Quoting baz
Jhon
this is in noway adefence of STRAT,he can do that himself....BUT you must not forget,HE IS TEACHING OTHERs to trade and as safe as possible....
He does NOT SHOW his trades( there is a Good reason for that and i think that is correct )....BUT HE MAKES a SERIOUS amount of pips just trading daily and weekly charts...
there are a lot of SHARKS out there who will charge anything from $100 to $2000 to teach absouletly BULLSHIT....
Hence i respect the fact STRAT does it for NOTHING....but has TIME for others..
I too respect Tony as well.......but...


No problem Baz, I'm totally agree, I know Strat is a great and wise trader, just has to respect the other people trading style, no offense

Just keep posting Baz, and the rest of people in this amazing thread, at least until Hussin is back.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,911
  • Jan 21, 2010 4:12pm Jan 21, 2010 4:12pm
Quoting Bones
Yes Baz the pound may be due its turn for sell off ,but like you say did break up from consolidation down ,possibly just to confirm trend
Im going to watch the daily as current D1 engulfing
What do you think Tony?

Bearish dark cloud cover??

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The pound has more room to going down
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,912
  • Jan 21, 2010 4:15pm Jan 21, 2010 4:15pm
Quoting JhonMonsalve
Now is when dear traders!

A solid 4H candle close below 52.7xx area on LFXJPY, that's only means one thing ------>

Attachment

Don't dare to going long in any yen pair, is my humble advice.

Jhon
I told you so!

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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,913
  • Jan 21, 2010 4:23pm Jan 21, 2010 4:23pm
I don't see any bear sign yet on $ index,

Be careful shorting the $, I mean, we could reach 1.75 before 1.72 or lower, IMHO!

Check the daily chart:

Attached Image (click to enlarge)
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Bullish continuation, daily candle close @1.74
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,914
  • Jan 21, 2010 5:34pm Jan 21, 2010 5:34pm
I can talk myself out of more trades.
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  • #9,915
  • Jan 21, 2010 5:36pm Jan 21, 2010 5:36pm
Quoting JhonMonsalve
I told you so!

Attachment
I know....Damn...
  • #9,916
  • Jan 21, 2010 5:44pm Jan 21, 2010 5:44pm
Quoting calderone
I can talk myself out of more trades.
Looks nice, a chart for you calderone, I'm not a bottom picker [I mean, on EU, but UChf is the mirror: long EU, short UChf]

Attached Image (click to enlarge)
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The important thing is the s/r zone.

Be careful shorting against the $

http://www.forexfactory.com/showpost...postcount=9913
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,917
  • Jan 21, 2010 5:47pm Jan 21, 2010 5:47pm
Quoting calderone
I know....Damn...
I bet you did [do, like myself, I'm in yet] many greens on that

Attached Image (click to enlarge)
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"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
  • #9,918
  • Edited 6:09pm Jan 21, 2010 5:56pm | Edited 6:09pm
Quoting JhonMonsalve
I bet you did [do, like myself, I'm in yet] many greens on that

Attachment

Yeah, I'm still in gbp/usd. I do have a short on the usd/chf. Only reason I am not long on eu is......well that would be redundant. lol
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Click to Enlarge Name: chf.gif Size: 23 KB
  • #9,919
  • Jan 21, 2010 6:48pm Jan 21, 2010 6:48pm
Quoting JhonMonsalve
Looks nice, a chart for you calderone, I'm not a bottom picker [I mean, on EU, but UChf is the mirror: long EU, short UChf]

Attachment

The important thing is the s/r zone.

Be careful shorting against the $

http://www.forexfactory.com/showpost...postcount=9913
JhonMon
I think that usdchf will clear 105 soon and continued uptrend
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  • #9,920
  • Jan 21, 2010 6:52pm Jan 21, 2010 6:52pm
Quoting thang822462
JhonMon
I think that usdchf will clear 105 soon and continued uptrend
Yep Thang!

I don't see any weakness in $, so, I'm trading most GU & GJ, I don't dare to short the Swissie or long €, If I'd do that, just I'd like to tight my SL, always is better trade with the major trend.
"THE ALL is Mind; the Universe is Mental--held in the mind of THE ALL."
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