Strat's Long Term Stress Free Trading | Page 479 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Strat's PASR Long Term, Stress Free Trading 18,592 replies

M5 PASR Trend Trading Strat 95 replies

What you need for trading: indis, a strat & good music 27 replies

Another way to stress free, mechanic long term trading 29 replies

Short Term / Medium Term / Long Term? 3 replies

Attachments: Strat's Long Term Stress Free Trading
Exit Attachments

Strat's Long Term Stress Free Trading

  • #9,561
  • Jan 27, 2010 8:01am Jan 27, 2010 8:01am
Quoting strat
Congratulations to Cliftonarms and wife on the birth of healthy twin girls.
Fantastic, well done to the mother, you are now heavily outnumbered in the house, good luck you will need it.

Larry
  • #9,562
  • Jan 27, 2010 8:01am Jan 27, 2010 8:01am
Quoting mstandifer
I didn't take the trade and I wanted to say why. I might be mistaken for not taking it and I'd like to learn from it if that's the case.
Today is the very reason I didn't take the GBPCHF trade. However, IF today's bar end's up being a very nice shooting star that closes around 1.6900, you can count me in. Otherwise, I'll be watching to go long.

-m
Attached Image (click to enlarge)
Click to Enlarge Name: gbpchf.gif Size: 27 KB
  • #9,563
  • Jan 27, 2010 8:30am Jan 27, 2010 8:30am
Quoting mstandifer
Today is the very reason I didn't take the GBPCHF trade. ...

-m
Hey M, today is not finished yet, what are you saying?

It ain't over 'til the fat lady sings.... or the SL is taken out
  • #9,564
  • Jan 27, 2010 8:38am Jan 27, 2010 8:38am
I hope my chart is attached

I believe that the PA at this SR after a quite nice BEEB is worth trading given the general sentiment with the JPY. Entry just below the BEEB and stop just above the BEEB. Target should be S at 7734 or more in due course. The 50 fib is in the way and previous action in this zone was very choppy. The boss is saying maybe short is ok, while the big boss is still long.

As a general observation of all the pairs we are definitely in consolidation zones almost everywhere while the market decides whether to continue former trends or turn around and finally start the big comeback for the USD et al.

We are basically reduced to trading in these consolidation zones, which is tricky as sometimes that could be against the boss and big boss so risk is greater unless you just don't trade.

Larry
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 18 KB
  • #9,565
  • Jan 27, 2010 8:49am Jan 27, 2010 8:49am
Quoting hcristea
Hey M, today is not finished yet, what are you saying?

It ain't over 'til the fat lady sings.... or the SL is taken out
If you'll note where I said "IF"

Quoting mstandifer
IF today's bar end's up being a very nice shooting star that closes around 1.6900, you can count me in.
Intraday is a no-no...I was pointing out why I didn't go short on the BEEB. It just didn't feel right. As Strat mentioned I'll wait for the GBP strength to peter out. That's where the potential SS for today might come in.

-m
  • #9,566
  • Jan 27, 2010 2:05pm Jan 27, 2010 2:05pm
Quoting mstandifer
Today is the very reason I didn't take the GBPCHF trade. However, IF today's bar end's up being a very nice shooting star that closes around 1.6900, you can count me in. Otherwise, I'll be watching to go long.

-m
Me too M.

I've been waiting to go short on this pair but looking at the Big Boss I'm also beginning to change my mind.

Great hammer at the end of 08 too

Attached Image (click to enlarge)
Click to Enlarge Name: GBPCHF.jpg Size: 87 KB
  • #9,567
  • Jan 27, 2010 2:24pm Jan 27, 2010 2:24pm
Quoting strat
Congratulations to Cliftonarms and wife on the birth of healthy twin girls.
Hi Andrewhttp://cdn.forexfactory.com/images/icons/icon6.gif

Great news. enjoy your kids - they grow fast!

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck and Wife
  • #9,568
  • Jan 27, 2010 3:28pm Jan 27, 2010 3:28pm
Quoting stewrigh
Me too M.

I've been waiting to go short on this pair but looking at the Big Boss I'm also beginning to change my mind.
As Strat mentioned earlier this is still trading in a range until it does otherwise.

Quoting strat

Still in a 19 week range!
GBPCHF Monthly shows a BUOB for January. However it is still range bound.

GBPCHF Weekly shows a BUEB BUT it is still being told what to do by last weeks shooting star so the technical play is still down. Yes the MAs are beginning to converge and we now have a close above 1.6900 (45 min from now) but until it breaks above the top of last weeks SS my bias is still short.

GBPCHF Daily shows a BUEB but it has respected Blackeagle's non-horizontal resistance line. This week might not reveal much or tomorrow may be the break. Watching to see what PA says.

-m
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbpchf daily.gif Size: 27 KB
Click to Enlarge Name: gbpchf weekly.gif Size: 21 KB
Click to Enlarge Name: gbpchf monthly.gif Size: 19 KB
  • #9,569
  • Jan 27, 2010 3:34pm Jan 27, 2010 3:34pm
Quoting strat
Congratulations to Cliftonarms and wife on the birth of healthy twin girls.
Congrats to both of you. Hope you're off to your names sake to wet the baby's head (twice). May be the last time you'll be able to visit for a while .

A little advice if I may. It helps to feed/change them at the same time especially at night. If one wakes up for a feed/change wake the other and feed/change at the same time. They will get used to it and you will get some precious sleep in between instead of just finishing with one to find the other then wakes.

One advantage of twins is that they keep each other company and are not so demanding of your time.

Enjoy them they soon grow up.

N.
  • #9,570
  • Jan 27, 2010 4:09pm Jan 27, 2010 4:09pm
Quoting hcristea
I'm continuing with the update for my trade: LONG USDCAD @1.0359 and initial SL at 1.0220.

Today's candle broke above the 1.0600 psycho and almost reached the major resistance at 1.0700. I've moved my SL under the low of today's candle.

This is to protect the profit in case that tomorrow the bears will make a strong move as the bulls were rejected by the major resistance at 1.0700. We are still in the high risk zone. The downtrend is still in effect and might continue.
Today's candle is a IB and it is between the major resistance of 1.0700 and psycho 1.0600. This IB gives me no choice but to move the SL right under it. Coincidence is that the SL is now at the psycho 1.0600. This could be the last update for this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad_trade_update4.png Size: 28 KB
  • #9,571
  • Jan 27, 2010 4:21pm Jan 27, 2010 4:21pm
nice hammer in eur/jpy daily, right on 50 retracement.
My humble opinion.
  • #9,572
  • Jan 27, 2010 4:37pm Jan 27, 2010 4:37pm
Quoting hcristea
Today's candle is a IB and it is between the major resistance of 1.0700 and psycho 1.0600. This IB gives me no choice but to move the SL right under it. Coincidence is that the SL is now at the psycho 1.0600. This could be the last update for this trade.
Hi Horatiu

Thanks for this update, it is great to see how you progress with a trade and epecially with this one.

I have been in it too, interesting that you are moving the SL to below the IB. I have moved it too, but it is closer to the DSRI.

I hope this will still continue for a while until 1.0700.

Happy trading
Jideck
  • #9,573
  • Jan 27, 2010 4:58pm Jan 27, 2010 4:58pm
Quoting igmal
nice hammer in eur/jpy daily, right on 50 retracement.
I saw that too, the boss makes this trade a little concerning though.

We had 3 hits of the 138.xx level and most recently made a LH and LL. This one may be rolling over in my opinion.

On the big boss...last month was also an IB and this month (closes next week) looks like a BEEB.
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad- boss1272010.gif Size: 12 KB
  • #9,574
  • Jan 27, 2010 5:49pm Jan 27, 2010 5:49pm
Quoting pipfx
I saw that too, the boss makes this trade a little concerning though.

We had 3 hits of the 138.xx level and most recently made a LH and LL. This one may be rolling over in my opinion.

On the big boss...last month was also an IB and this month (closes next week) looks like a BEEB.
Yeah the more I look at it it reminds me of Strat's friend Bond . . . I've been fooled by this type of hammer in the past look at the one that formed on CAD/YEN back on October 23 of 08 . . . jmho though . . .
"Don't trade to trade . . . trade to win." - James16
  • #9,575
  • Jan 27, 2010 6:20pm Jan 27, 2010 6:20pm
Quoting pipfx
I saw that too, the boss makes this trade a little concerning though.

We had 3 hits of the 138.xx level and most recently made a LH and LL. This one may be rolling over in my opinion.

On the big boss...last month was also an IB and this month (closes next week) looks like a BEEB.

Now we're talking. This, I think, is an illustration of why larger traders can come into markets that appear precarious and serves as an example of the limited but important role that fundamental views can play. If one is confident in the economic outlook and the need to weaken the Yen, that view can circumvent the doubts and allow one to view this as an opportuniy rather than a technical confusion. I have the same technical fear of this market rolling over (LOL-it has already--by taking out 131, 129, and 127!), but I feel confident buying this price and allowing my stop to control things now that the weaker hands are out.

Strat, I agree with the EURUSD assessment on both fronts. The weak sister nature of E/J underscores to me the negative EUR sentiment of late, though the tendancy of this market to overshoot erodes that view a bit.; As we know, we have battled the pundents calling for the fall of the EURO for months and USDCHF, though close, has yet to fully confirm a reversal. Why now, is it time for all hell to break loose? I am not fundamentally confident enough to play this market apart from the technical. I need to study it a bit more.
  • #9,576
  • Jan 27, 2010 7:19pm Jan 27, 2010 7:19pm
UPDATE: On Q, USDCHF seems to be making a statement. Should be an interesting closing chart from the S/R standpoint
  • #9,577
  • Jan 27, 2010 7:47pm Jan 27, 2010 7:47pm
Quoting Alexandra
UPDATE: On Q, USDCHF seems to be making a statement. Should be an interesting closing chart from the S/R standpoint
Correct. A similar SR to GBPCHF. A close above 1.0500 will be bullish, IMO. But EUR's statement is stronger since debt crisis in Greece made the headlines (especially after 1.4450 was broken down fortnight ago).
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF-Daily.jpg Size: 133 KB
  • #9,578
  • Jan 27, 2010 7:59pm Jan 27, 2010 7:59pm
Could it be this fat red line that comes from 1999 helping to stall EURJPY here?
I think so.
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPY-Daily.jpg Size: 175 KB
  • #9,579
  • Jan 27, 2010 8:08pm Jan 27, 2010 8:08pm
Another fat red line but it seems the train is ready for the next station after 0.8850 gave way which was analysed in this thread before it happened. Hope you followed.
Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.jpg Size: 197 KB
  • #9,580
  • Jan 27, 2010 9:19pm Jan 27, 2010 9:19pm
Quoting Blackeagle
Correct. A similar SR to GBPCHF. A close above 1.0500 will be bullish, IMO. But EUR's statement is stronger since debt crisis in Greece made the headlines (especially after 1.4450 was broken down fortnight ago).

I like that argument. EURUSD, indeed, is driving the bus this time.....but is it really a valid route? Is the fringe EU situation a real rationale? Hence the need in my mind for confirmation from CHF.
3 traders viewing now