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  • #14,761
  • Jan 27, 2010 4:00pm Jan 27, 2010 4:00pm
Quoting Ducci
Well beware of longs using your 60 minute CCI, it is bobbing and weaving like crazy on longs, but after a retracement, it has been spot on for shorts where we are reloaded and the lines cross with at least your 20 line getting into the +100 area or better and coming back down. As for exits, I am just using my profit goal, applying it to the right ATR time frame chart , and running Fib's. I couldn't tell how I ended up with a short right now except that for the second time, my 60 min CCI lines crossed on a long in the right area, and it turned right...
Hi Ducci,

Thanks for that, saw your reply from yesterday thanks again. Lets hope she keeps heading south!

cheers
  • #14,762
  • Jan 27, 2010 4:03pm Jan 27, 2010 4:03pm
Quoting Ducci
Interesting, matches a four month daily very close. I would be a very happy trader if that happened right now. except my TP is to high to get much . So how close would our targets etc be?
I don't really have a TP. If my trades work out, I'll move my SL down tomorrow.
  • #14,763
  • Jan 27, 2010 4:15pm Jan 27, 2010 4:15pm
Quoting Clouds
I don't really have a TP. If my trades work out, I'll move my SL down tomorrow.
Ok so help me understand on a longer time frame how you judge your SL movement for example looking for let's say a lower low and lower high compared to yesterday type of thing.
  • #14,764
  • Jan 27, 2010 4:18pm Jan 27, 2010 4:18pm
Quoting Ducci
Ok so help me understand on a longer time frame how you judge your SL movement for example looking for let's say a lower low and lower high compared to yesterday type of thing.
however u want. u can do that, or use sma's, or ema's, or where ever u might think u want to switch positions.
  • #14,765
  • Jan 27, 2010 4:19pm Jan 27, 2010 4:19pm
Quoting shoeysfish
Hi Ducci,

Thanks for that, saw your reply from yesterday thanks again. Lets hope she keeps heading south!

cheers
Ok SF see how the 60 minute looks right now. If it decides to shoot up like a rocket now after several long false alarms, I am not going to be a happy camper.
  • #14,766
  • Jan 27, 2010 4:51pm Jan 27, 2010 4:51pm
Quoting Ducci
Ok SF see how the 60 minute looks right now. If it decides to shoot up like a rocket now after several long false alarms, I am not going to be a happy camper.
I like the look of the 15M chart better LOL
  • #14,767
  • Jan 27, 2010 6:02pm Jan 27, 2010 6:02pm
Quoting shoeysfish
I like the look of the 15M chart better LOL
It did do a nice little calm 30 PIP run up, but nothing life threatening at this point. I had a chance to take a very small loss so I reduced down to one lot. I don't normally hold positions long, but I might hold this one to see if I get a chance at .8840. Unless it takes more then a few days then the ADD kicks in. I set my stop loss a little higher just outside of a 100 PIP daily range from my position. On momentum trades , I would love to get 3 to 1, but I am typically closer to 2 to 1 SL risk to reward unless my entry is exactly right with no movement the other direction (doesn't happen very often), but I am at a loss for what to take initially on what I would like to see mature by 3 days-open to suggestions. For the purist out there, my SL is never even close to 2% of my equity because money management seems to emotionally catch everyone's attention so I thought that I better clarify that point.
  • #14,768
  • Jan 27, 2010 6:11pm Jan 27, 2010 6:11pm
Quoting Ducci
It did do a nice little calm 30 PIP run up, but nothing life threatening at this point. I had a chance to take a very small loss so I reduced down to one lot. I don't normally hold positions long, but I might hold this one to see if I get a chance at .8840. Unless it takes more then a few days then the ADD kicks in. I set my stop loss a little higher just outside of a 100 PIP daily range from my position. On momentum trades , I would love to get 3 to 1, but I am typically closer to 2 to 1 SL risk to reward unless my entry is exactly right...
One more point of clarification, since I am keeping this one for a few days maybe God willing, my SL is close to even with my TP so I am defintely looking for some position trader advice on setting an initial SL in my position holding a short at .8928 ( I know ouch was the result of a reversal) with an initial TP of .8840. I have an automated 12 hour adjustment on S &R so I would actually be adjusting to hit .8833 it looks like.
  • #14,769
  • Jan 27, 2010 7:50pm Jan 27, 2010 7:50pm
I've just bought meself a ticket to board the long boat.
The FF short boat doesn't seem to any space left for me.
  • #14,770
  • Jan 27, 2010 8:12pm Jan 27, 2010 8:12pm
Quoting GoldenGold
I've just bought meself a ticket to board the long boat.
The FF short boat doesn't seem to any space left for me.
it's still going down..... i'm still waiting for the reversal...
  • #14,771
  • Jan 27, 2010 8:44pm Jan 27, 2010 8:44pm
Quoting yeri
it's still going down..... i'm still waiting for the reversal...
Hey hey! Thought my boat was gonna sink right from the start!
Dip to 8929 just now but has steadily crawl back up. Phew.
If we can pass 38.2% fib 8976 with strong upwards momentum, this boat is gonna cruise to 9020.
  • #14,772
  • Jan 27, 2010 8:54pm Jan 27, 2010 8:54pm
Quoting GoldenGold
Hey hey! Thought my boat was gonna sink right from the start!
Dip to 8929 just now but has steadily crawl back up. Phew.
If we can pass 38.2% fib 8976 with strong upwards momentum, this boat is gonna cruise to 9020.
Forgot to add my chart.
First resistance at 8975, bull fight happening now.
Attached Image (click to enlarge)
Click to Enlarge Name: Resistance.JPG Size: 75 KB
  • #14,773
  • Jan 27, 2010 9:00pm Jan 27, 2010 9:00pm
Hi all,
been on holidays for the past week. Hows everybody going? DT you still on target? Clouds, all the astrological charts worked much better than all analysts from westpac and CBA. I am still following the charts as explained in 14th Jan. Hope you are doing well as well.
My shorts that I left on from last week on ASX200, Dow, Gold and lahir are doing well. I will be back and trading from Monday. Pl post charts as I havent had the time to calculate ranges on technical terms. Wishing everybody good luck....
Find a job that you love and you dont have to work again in your life.
  • #14,774
  • Jan 27, 2010 9:13pm Jan 27, 2010 9:13pm
A clean break above 0.90 may have me looking to the upside.
  • #14,775
  • Jan 27, 2010 9:23pm Jan 27, 2010 9:23pm
Quoting GoldenGold
Forgot to add my chart.
First resistance at 8975, bull fight happening now.
Overcame first resistance, testing second resistance at 8995.
A close above that will really open the big door to more upside.
  • #14,776
  • Jan 27, 2010 11:14pm Jan 27, 2010 11:14pm
I am sticking with that longer term trade. Can't believe those words actually came out of my mouth . Anyway, there might be a decent short developing somewhere around 2 am to 3am , or 2 to 3 hours away from whatever time zone your in. Plus I am seeing some divergence on both the 15 and 60 minute charts where the CCI peaks are higher then the price chart, which can signal a reversal coming. I am going to bed, but good luck.

Nice trade GG, the earlier sessions were frustrating for longs even though we would spend 4 to 5 hours in over bought areas, the bears had the death grip on the market. I hate to route against you, but I have a short swing trade. I think .9020 is the high for today . I don;t want to be in this more then 3 days so get back on the short boat...
  • #14,777
  • Jan 27, 2010 11:53pm Jan 27, 2010 11:53pm
so is anyone ready for the ride down?
  • #14,778
  • Jan 28, 2010 12:20am Jan 28, 2010 12:20am
Quoting kilalik
so is anyone ready for the ride down?
Short 6 lots from .90129
  • #14,779
  • Jan 28, 2010 12:25am Jan 28, 2010 12:25am
Quoting kilalik
so is anyone ready for the ride down?

The day chart did a solid stop and reversal at the 100EMA on the day chart. Word from the institutions is the pair will turn bullish. What are you seeing that says short and what is your target?
  • #14,780
  • Jan 28, 2010 12:26am Jan 28, 2010 12:26am
Quoting kilalik
so is anyone ready for the ride down?
Me Me If it continues to channel for a while, I have it charted to breakout short around 3 am (2 hours from now), this could change to closer to 2 am (1 hour from now) if we have a sudden movement like a price drop below the 34 EMA low. I am going to sleep so I will check in the morning to see how close I was, or how close I wasn't.
I have a short swing trade going. Unfortunately, I can't say that it was done on purpose, but that is what I get for trying to get a jump on my indicator rather then wait for a confirmation. I actually feel pretty good about the trade anyway. In the meantime, I am going to sit back and work on my charts, update my trading plan, and maybe try to back test a strategy.


Good luck hope it works out.
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