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  • #121
  • Jan 28, 2010 2:07pm Jan 28, 2010 2:07pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Geppyg
Yes thanks Tuner...

This is how you would play the chart, wait for the 4 hour candle to close outside the lower ltl to short or utl to go long....stop would be 10 pips above or below the Trendlines ie the triangle....

Simple as that....
No Trades till we still sit in this traingle
Hope this makes sense

Good Luck
Hey Geppy,

Thank you for the explanation. That makes sense, yes.

Just ask myself how I can catch the trades when I am not sitting in front my screen. Pending orders don't really work out because we don't have a precise price and because we a looking for a close above/below and not just a touch.

Sure there is some nice tool out there (EA) that can be set up with such a trigger. Any idea?

-Tuner-
"Blue Horseshoe loves Anacott Steel!"
  • #122
  • Jan 28, 2010 2:17pm Jan 28, 2010 2:17pm
Quoting Tuner
Hey Geppy,

Thank you for the explanation. That makes sense, yes.

Just ask myself how I can catch the trades when I am not sitting in front my screen. Pending orders don't really work out because we don't have a precise price and because we a looking for a close above/below and not just a touch.

Sure there is some nice tool out there (EA) that can be set up with such a trigger. Any idea?

-Tuner-
Dont worry I will post the trades....
If you want set and forget I will post the trades in a bit...
With an explanation as usual.. just finishing some euro analysis
Let Price determine your future!
  • #123
  • Jan 28, 2010 4:32pm Jan 28, 2010 4:32pm
Quoting puks
I am not in the AUD trade yet.

I am just not sure where/when to take entry so I am on the sidelines atm.

with bunch of data coming out in 1 hour, I may put the trade then or may even not trade tonight.
For some weird reasons, I didn't take any trade in AUD despite me posting charts and signalling a long entry with TP at .9100. Turned out to be blessing in disguise.

Instead I turned the laptop off and had a decent 7 hour sound sleep. Feeling soooo fresh this morning and ready to take trade.

I am at work so can't access charts but I will put "one-touch" trade in Euro.

I hate to trade without charts so if you guys see any decent opportunity, please post it here.

Thanks and have a great day/night.

and yes, its Friday, Federrer vs Tsonga (CHF vs Euro) hahaha :-)
  • #124
  • Jan 28, 2010 4:49pm Jan 28, 2010 4:49pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting puks
For some weird reasons, I didn't take any trade in AUD despite me posting charts and signalling a long entry with TP at .9100....
Hey there Puks,
Good morning to you (and almost bedtime for me here )

I have seen your chart of the AUD in here. Looked promising (for a while).
I went short after the bounce @ 0.9045 area (the chart I posted today)
Wasn't sure about the setup but after it bounced there I went short from 0.9010 down to 0.8950.. so 60 pips in the end.

Was also at work during that time, but found some nice charts on the internet and executed the order with my MT4mobile on my Windows mobile phone.
(connection is pretty slow, so not a good idea if you want to scalp)
But it worked out

Have a nice day and good luck with your "one-touch" trades!

-Tuner-
"Blue Horseshoe loves Anacott Steel!"
  • #125
  • Jan 29, 2010 2:56am Jan 29, 2010 2:56am
Quoting Geppyg
Day trading the foreign currency (forex, FX or interbank) market is definitely one of the more challenging endeavors an aspiring trader can pursue. The higher degree of leverage (as high as 50:1 or 100:1) available in this market can increase profits, but it equally accelerates losses.
This makes the issue of trade timing and selection that much more critical to success. Because of the lack of volume data in the spot currency market (i.e., there are no Level I or II quotes, or time and sales data), newer traders will find they will need to develop...
Awesome analysis!
  • #126
  • Jan 29, 2010 6:17am Jan 29, 2010 6:17am
Quoting Tuner
Hey there Puks,
Good morning to you (and almost bedtime for me here )

I have seen your chart of the AUD in here. Looked promising (for a while).
I went short after the bounce @ 0.9045 area (the chart I posted today)
Wasn't sure about the setup but after it bounced there I went short from 0.9010 down to 0.8950.. so 60 pips in the end.

Was also at work during that time, but found some nice charts on the internet and executed the order with my MT4mobile on my Windows mobile phone.
(connection is pretty slow, so not a good idea if you...
Good stuff. I am glad that you made some pips.

I am also glad that I didn't make any pips (Because if anything, I would have entered long and would have hit my S/L).

Posting chart on AUD soon.

Happy GDP day.
  • #127
  • Jan 29, 2010 6:25am Jan 29, 2010 6:25am
G'day guys,

So the French (EURO) was a no match against a red hot Swiss Franc. The tennis reflected in EURCHF pair too with CHF long made some decent pips :-)

Anyways, going back to aussie, here is what my charts say and Geppy I'd love to see your approval or otherwise on the same. What I see is following:

- Possible Double top on 1H chart at .9045ish area
- 8950 support was tested thrice in two days and finally broken down.
- Current prices are hovering around the same area with at UTL of downward channel.
- Next resistance is at .8980 and if that holds, we will see a move down to .8860-70 in next few 4H candles.

I have taken a short at .8955 with S/L at .8985 and looking to TP at .8930, then .8910
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 19 KB
  • #128
  • Jan 29, 2010 8:36am Jan 29, 2010 8:36am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting puks
G'day guys,

So the French (EURO) was a no match against a red hot Swiss Franc....
Hey Puks!
Nice chart...and it worked out for you.
I just came home from work and seen some nice big candles down bouncing from today's high. Just jumped on that train for a quick scalp. 20 minutes for 25 pips. (0.8940 to 0.8915) then chickend out
The way down looks more than opened now. But on Fridays you never know.
I was often screwed with strange Friday moves.
@ Geppy : Any advice for Fridays ? (or is there nothing special?)

So I might stay out for now and call it the week.

Happy pippin to you and a nice weekend!

-Tuner-
"Blue Horseshoe loves Anacott Steel!"
  • #129
  • Jan 29, 2010 8:45am Jan 29, 2010 8:45am
Hope all is well ,

Congratulatins puks and tuner in your trades.. well done..

I will start posting from sunday night again.

Last day of the month a lot of position re-adjustments shall take place no trades after 5:30 P.m GMT

I am currently waiting for a one touch on the euro at 3890.

Cable trades have been entered...and currently happy..

See you all on sunday
Let Price determine your future!
  • #130
  • Jan 29, 2010 9:07am Jan 29, 2010 9:07am
Thanks Geppy.

I am getting nervous about my long gold position entered at 1081.

I would think that the stronger GDP data and strong data + rising stock market would boost risk trade.

but i guess I am wrong :-(

what are the levels to watch in gold in your opinion?


Quoting Geppyg
Hope all is well ,

Congratulatins puks and tuner in your trades.. well done..

I will start posting from sunday night again.

Last day of the month a lot of position re-adjustments shall take place no trades after 5:30 P.m GMT

I am currently waiting for a one touch on the euro at 3890.

Cable trades have been entered...and currently happy..

See you all on sunday
  • #131
  • Jan 29, 2010 9:15am Jan 29, 2010 9:15am
Quoting puks
Thanks Geppy.

I am getting nervous about my long gold position entered at 1081.

I would think that the stronger GDP data and strong data + rising stock market would boost risk trade.

but i guess I am wrong :-(

what are the levels to watch in gold in your opinion?
1074.50 is a critical area...also it is the last day of the month..
We have been holding this 1081 for a bit of time....
The bad news my friend is we have a pin bar on the 2hour chart...

will try and keep you updated what is your stop ?
Let Price determine your future!
  • #132
  • Edited 9:41am Jan 29, 2010 9:17am | Edited 9:41am
Hi Geppyg
nice thread, and very good charts and analysis,
if you dont mind I post this chart here,
USDJPY. trendline touch, S tuns R at 90.90
Sell at the current level
TP 89.25 SL for now it is 92.00 but I'm watching the trend line, if it breaks clearly I might close
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy2.gif Size: 16 KB
  • #133
  • Jan 29, 2010 9:18am Jan 29, 2010 9:18am
Quoting Geppyg
1074.50 is a critical area...also it is the last day of the month..
We have been holding this 1081 for a bit of time....
The bad news my friend is we have a pin bar on the 2hour chart...

will try and keep you updated what is your stop ?

I am going to bed as its 2.30 am here in sydney.

I stop at 1072 and TP at 1090

I have 2 positions so I will exit one at break even and let second ride.
  • #134
  • Jan 29, 2010 9:21am Jan 29, 2010 9:21am
Quoting puks
I am going to bed as its 2.30 am here in sydney.

I stop at 1072 and TP at 1090

I have 2 positions so I will exit one at break even and let second ride.
Good Luck ...Lets see if we get a turn around in the next 40 mins ie by 4:00 we should see some good movement in the dollar by this time...
Let Price determine your future!
  • #135
  • Jan 29, 2010 9:22am Jan 29, 2010 9:22am
Quoting shahab8b
Hi Geppyg
nice thread, and very good charts and analysis,
of you dont mind I post this chart here,
USDJPY. trendline touch, S tuns R at 90.90
Sell at the current level
TP 89.25 SL for now it is 92.00 but I'm watching the trend line, if it breaks clearly I might close

Nice clean charts good on you .....Feel free
Chart sl and tp..that the only requirement of trade...

Good Luck
Geppyg
Let Price determine your future!
  • #136
  • Jan 29, 2010 9:24am Jan 29, 2010 9:24am
Quoting puks
Thanks Geppy.

I am getting nervous about my long gold position entered at 1081.

I would think that the stronger GDP data and strong data + rising stock market would boost risk trade.

but i guess I am wrong :-(

what are the levels to watch in gold in your opinion?
there you go puks....
Let Price determine your future!
  • #137
  • Jan 29, 2010 9:30am Jan 29, 2010 9:30am
Cleared my gold with 3 $ profit. hehehe

what a chicken I am :-)




Quoting puks
I am going to bed as its 2.30 am here in sydney.

I stop at 1072 and TP at 1090

I have 2 positions so I will exit one at break even and let second ride.
  • #138
  • Jan 29, 2010 9:51am Jan 29, 2010 9:51am
Hi Puks,

I gave you the time frame 40 mins due to the re-positioning in trades as you will see a lot of choppiness before 4:00 also we shall see some big moves closer to 4:30 on a friday which shall generally finish before 6:00 ie European market closing time....

I believe you did the best thing to liquidate your trade here are my reasons regardless of Profit or loss.

A. Last week of the Trading month
B. Last Trading day of the month.
C. Gold Support 1081 has been broken and we shall see ins and outs no trend setting today.

D. You were scared in the trade so the rating has to be a B as you have not traded on confirmation of trade. There is no way you would be able to sleep on a trade like this hence I emailed you straight away..

I really hope you have a lovely week of pips next week.

GeppyG
Let Price determine your future!
  • #139
  • Jan 29, 2010 9:54am Jan 29, 2010 9:54am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Geppyg
Hope all is well ,

Congratulatins puks and tuner in your trades.. well done..

I will start posting from sunday night again.

Last day of the month a lot of position re-adjustments shall take place no trades after 5:30 P.m GMT

I am currently waiting for a one touch on the euro at 3890.

Cable trades have been entered...and currently happy..

See you all on sunday
Hey Geppy,

We are targetting your one touch entry in the Euro as it seems.

May I ask what your setups for a one touch is? or now for the EUR?
SL 10 pips.. TP 15?

Is the current one touch setup still in play and valid if we already bounced of the 1.39 now?

Thanks in advance.

Tuner
"Blue Horseshoe loves Anacott Steel!"
  • #140
  • Jan 29, 2010 10:01am Jan 29, 2010 10:01am
Quoting Tuner
Hey Geppy,

We are targetting your one touch entry in the Euro as it seems.

May I ask what your setups for a one touch is? or now for the EUR?
SL 10 pips.. TP 15?

Is the current one touch setup still in play and valid if we already bounced of the 1.39 now?

Thanks in advance.

Tuner
That right matey...

SL 15 tp 20--today
Let Price determine your future!
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