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  • #9,581
  • Jan 27, 2010 9:25pm Jan 27, 2010 9:25pm
Quoting Blackeagle
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.
Indeed, I remember your call on that one - tested itself and required some faith. Nice profit in that high pip return market.
  • #9,582
  • Jan 28, 2010 12:46am Jan 28, 2010 12:46am
Quoting Nick'em
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.
Completely agree! It took me 2 months to realize that my sleep is much better if I feed both of them - not in the same time but usually I wake up when the first one wakes up and I feed him then I put him back to sleep and am not waiting for the other one to wake up, instead I wake him up and feed him too. It usually takes 30 mins or so to feed them both this way but then I have 3-4 hours of full sleep. Much better!

Enjoy!
Trading = a mirror to your human flaws. Fix them or be fixed.
  • #9,583
  • Jan 28, 2010 2:45am Jan 28, 2010 2:45am
Nice bounce here off the boss 20.

Personally I think the Asian markets are leading and we should now see a lower swing high but I'll be patient and wait for PA...right now low risk entry to follow the worker
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Hope is not a trading strategy
  • #9,584
  • Jan 28, 2010 3:24am Jan 28, 2010 3:24am
Quoting Sinan
Nice bounce here off the boss 20.

Personally I think the Asian markets are leading and we should now see a lower swing high but I'll be patient and wait for PA...right now low risk entry to follow the worker
And this is why we saw a bounce yesterday, IMO. If it can stay above 1100, we may see another attempt to upper channel line.
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  • #9,585
  • Jan 28, 2010 3:40am Jan 28, 2010 3:40am
Quoting Blackeagle
And this is why we saw a bounce yesterday, IMO. If it can stay above 1100, we may see another attempt to upper channel line.
I am obviously not doing enough homework...that makes everything crystal clear...thanks

Lovely confluence with the boss 20...
Hope is not a trading strategy
  • #9,586
  • Jan 28, 2010 3:48am Jan 28, 2010 3:48am
USDCAD TRADE CLOSED at 1.0600 in the SL.

The profit was 2R, that's twice the initial risk. Which is not bad considering that this trade was inside the Monthly hammer.

Thanks for following this trade and I hope this was interesting and had any educational value. I'm also glad that the trade didn't ended immediately after I said i'll post the progress

Attached Image (click to enlarge)
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Quoting Jideck
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
Hi Jideck, 1.0700 would have been a nice place to close the trade

I learned to move the SL below an IB on this thread from observations of Strat's posted charts with trade management. When he reviewed another trade of mine he suggested this in a similar context. I hope i got this right.

The IB is a pause. The candle alone doesn't mean continuation, nor reversal. Tuesday the bulls were rejected by the major resistance. Yesterday's IB closed very close to the open and there was a good chance that the price to go under the psycho. If the price goes under the psycho then psycho might becomes a resistance itself (again). So the best move to preserve profit was to tighten the SL under that IB.
  • #9,587
  • Jan 28, 2010 4:05am Jan 28, 2010 4:05am
Quoting hcristea
USDCAD TRADE CLOSED at 1.0600 in the SL.

The IB is a pause. The candle alone doesn't mean continuation, nor reversal. Tuesday the bulls were rejected by the major resistance. Yesterday's IB closed very close to the open and there was a good chance that the price to go under the psycho. If the price goes under the psycho then psycho might becomes a resistance itself (again). So the best move to preserve profit was to tighten the SL under that IB.
Well done. Considering last two day's rejection at 1.0700 major SR, it was wise to bring SL just under yesterday's low.

Most pairs are at important levels. Therefore we may see (and already seeing) a bounce and then we'll be able to understand if USD trend (for most pairs like AUD, NZD, CAD, CHF) is real or not.
  • #9,588
  • Jan 28, 2010 10:43am Jan 28, 2010 10:43am
Quoting Sinan
right now low risk entry to follow the worker
Stopped out on this one...I guess I should have marked today as a non-trading day as Bernanke's confirmation seems to have spooked the market....
Hope is not a trading strategy
  • #9,589
  • Jan 28, 2010 12:48pm Jan 28, 2010 12:48pm
Quoting hcristea
USDCAD TRADE CLOSED at 1.0600 in the SL.

The profit was 2R, that's twice the initial risk. Which is not bad considering that this trade was inside the Monthly hammer.

Thanks for following this trade and I hope this was interesting and had any educational value. I'm also glad that the trade didn't ended immediately after I said i'll post the progress

Attachment




Hi Jideck, 1.0700 would have been a nice place to close the trade

I learned to move the SL below an IB on this thread from observations of Strat's posted...
Hi Horatiuhttp://cdn.forexfactory.com/images/icons/icon10.gif

Great trading, you got it nailed here. Thanks for the explanation, have been weary of the IB but I have put my SL just below the doji 4 candles back, it did not reach my SL as yet. I see that it is hovering around 1.0666. I shall move my stop loss higher now.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #9,590
  • Jan 28, 2010 1:47pm Jan 28, 2010 1:47pm
A couple of hours left to close the daily candles but GBPCHF and EURGBP are forming nice shooting star and hammer at SR.
  • #9,591
  • Jan 28, 2010 7:40pm Jan 28, 2010 7:40pm
Quoting hcristea
USDCAD TRADE CLOSED at 1.0600 in the SL.

The profit was 2R, that's twice the initial risk. Which is not bad considering that this trade was inside the Monthly hammer.

Thanks for following this trade and I hope this was interesting and had any educational value. I'm also glad that the trade didn't ended immediately after I said i'll post the progress

Attachment




Hi Jideck, 1.0700 would have been a nice place to close the trade

I learned to move the SL below an IB on this thread from observations of Strat's posted charts...
Good trade.

Thanks for posting the updates like you did from start to finish. It helps to see how you managed it as it went along, and why you made your decisions.

I would like to see more people show their trades as they take them. Not like a signal service, but after the entry, and all along the way, so we can learn.

I have noticed that it helps you out a lot with your self-discipline if you already know you will be posting your trade here. When you know everyone will be seeing what you do, you think a little more before you do it. You make a little more careful analysis and aren't so likely to just jump into something because it looks right. I know it has already helped stop me from revenge trading and has kept me from making some real "fool" trades that I used to take before.

It makes you a little more patient -- and that's a good thing.
  • #9,592
  • Jan 28, 2010 8:19pm Jan 28, 2010 8:19pm
The series of charts at week's end re: USDJPY as opposed to EURJPY should prove very interesting. Strat is not a fan of the harami patterns; however, as regards USDJPY, this W/M look could prove quite sustainable into next week, backed by tonight's promising Asian response; E/J on the other hand, remains a token only for the risk takers. Nevertheless, backed by Blackeagle's supports or my fundamentals, E/J also should remain on the watch list, at least.
  • #9,593
  • Edited 11:20pm Jan 28, 2010 9:43pm | Edited 11:20pm
Quoting Alexandra
The series of charts at week's end re: USDJPY as opposed to EURJPY should prove very interesting. Strat is not a fan of the harami patterns; however, as regards USDJPY, this W/M look could prove quite sustainable into next week, backed by tonight's promising Asian response; E/J on the other hand, remains a token only for the risk takers. Nevertheless, backed by Blackeagle's supports or my fundamentals, E/J also should remain on the watch list, at least.
I like the looks of the MW U/J pattern too. In this case a W in an up slope Or in the long view.. a continuation of the uptrend. Seems to have begun following a DSRI drawn on the Daily close from 11/30/09. Also resting on 89.77 SR in my world.

Film (chart) at 11:00
  • #9,594
  • Edited 11:19pm Jan 28, 2010 11:14pm | Edited 11:19pm
Quoting Lou
I like the looks of the MW U/J pattern too. In this case a W in an up slope Or in the long view.. a continuation of the uptrend. Seems to have begun following a DSRI line drawn on the Daily close from 11/30/09. Also resting on 89.77 SR in my world.

Film (chart) at 11:00
I see the Boss is pointing down. While the Big Boss appears conflicted.

Might take a long at 90.30 for a support to resistance trade to 91.35. But keep an eye on 90.60 for some daily resistance.

Of course I am open to a down move on good PA movement if the DSRI line and SR are broken to the downside.
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  • #9,595
  • Jan 29, 2010 1:01am Jan 29, 2010 1:01am
Quoting LarryK
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...
Trading direct into support
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,596
  • Jan 29, 2010 1:23am Jan 29, 2010 1:23am
Quoting hcristea
USDCAD TRADE CLOSED at 1.0600 in the SL.

The profit was 2R, that's twice the initial risk. Which is not bad considering that this trade was inside the Monthly hammer.

Thanks for following this trade and I hope this was interesting and had any educational value. I'm also glad that the trade didn't ended immediately after I said i'll post the progress



Hi Jideck, 1.0700 would have been a nice place to close the trade

I learned to move the SL below an IB on this thread from observations of Strat's posted charts with trade management. When...
Perfect execution all the way on this "live" trade. A beautiful example for all students of PASR to follow.
15 YEARS OF PASR ON FOREX FACTORY!
  • #9,597
  • Jan 29, 2010 1:36am Jan 29, 2010 1:36am
Selecting the correct SL

GBPCHF this week gave us a lesson in correct SL selection.

The correct placement for a SL for the short trade on January 22 was above the swing high on November 17 NOT the most recent swing on December 16.

If this was not clear on the Worker, it was more obvious on the BOSS.

15 YEARS OF PASR ON FOREX FACTORY!
  • #9,598
  • Jan 29, 2010 1:36am Jan 29, 2010 1:36am
It seems/feels like tomorrow is D day...of course I could be wrong. So many pairs at important levels and the US gdp figure (advanced) will be posted tomorrow. It seems like it doesn't matter what the figure is because the interpretation of the figure could be anything where currencies are concerned. PA as always will be our guide. What I'm hoping for is some clarity...with respect to the macro trend. Maybe we'll have a clue or answer tomorrow. Good luck everyone.
  • #9,599
  • Jan 29, 2010 1:38am Jan 29, 2010 1:38am
Quoting strat
Selecting the correct SL

GBPCHF this week gave us a lesson in correct SL selection.

The correct placement for a SL for the short trade on January 22 was above the swing high on November 17 NOT the most recent swing on December 16.

If this was not clear on the Worker, it was more obvious on the BOSS.

Strat,

I did lose on that trade. However, your phrase above has changed it into a winner...
  • #9,600
  • Edited 2:51am Jan 29, 2010 2:26am | Edited 2:51am
Originally Posted by strat
Selecting the correct SL

GBPCHF this week gave us a lesson in correct SL selection.

The correct placement for a SL for the short trade on January 22 was above the swing high on November 17 NOT the most recent swing on December 16.

If this was not clear on the Worker, it was more obvious on the BOSS.
Strat,

I did lose on that trade. However, your phrase above has changed it into a winner...

I suspected a few were caught out on this from the rumblings in my PMs.

I also got a couple of PMs presumably from lurkers, using GBPCHF as an example of why PASR doesn’t work!

I ignored their moans but since we’re discussing it…………………..

The GBPCHF short trade was neither failed PASR nor a failed trade nor a failure of any description.

The BEEB at resistance on January 21 was our set up bar with our SL above the November 17 swing high with an expected target at the bottom of the range at 1.6475.

For those of us that identify Worker support, we took partial profits at 1.6750 leaving the balance to run down to 1.6475.

Expecting the unexpected, GBP found some buyers at this PRICE and duly took PRICE back to the November 17 swing high (BOSS swing high) but could not follow through to higher PRICES.

We are now at the level where either PRICE is again contained by the 19 week range or we break out of the range to new 20 week highs.

Either way, we are protected by our PLAN.
15 YEARS OF PASR ON FOREX FACTORY!
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