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Nearly Naked (Simple Trades)

  • #781
  • Apr 26, 2010 9:12pm Apr 26, 2010 9:12pm
Quoting MarcVUM
Nice. Was that your "00" strategy at work?
Kinda, I had an S/R above and since second swing didn't reach as high as previous, I stacked.
  • #782
  • Apr 26, 2010 9:52pm Apr 26, 2010 9:52pm
Oh, nothing like the smell of a fresh gallon of coffee to get me ready to trade, mmmmm..... I'm sorry, coffee is what keeps my heart beating
  • #783
  • Apr 26, 2010 9:59pm Apr 26, 2010 9:59pm
Quoting Saxon
Oh, nothing like the smell of a fresh gallon of coffee to get me ready to trade, mmmmm..... I'm sorry, coffee is what keeps my heart beating
I'd like to see your blood pressure! A/U is taking a quick break from falling by hitting the Daily S1 right on the nose. Looking at my MA's on M15 my best guess is that Weekly PP or 9255 will put a stop to it and should continue a fall to 150ma on H1 at 9228.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #784
  • Apr 26, 2010 10:05pm Apr 26, 2010 10:05pm
Quoting MarcVUM
I'd like to see your blood pressure! A/U is taking a quick break from falling by hitting the Daily S1 right on the nose. Looking at my MA's on M15 my best guess is that Weekly PP or 9255 will put a stop to it and should continue a fall to 150ma on H1 at 9228.
Haha, my pulse is high.

In the short term, I have my eye on the following circles for small bounces if PA reaches. They are intersection points. I am bearish overall though. Me and you have similar S/R it seems
Attached Image (click to enlarge)
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  • #785
  • Apr 26, 2010 10:13pm Apr 26, 2010 10:13pm
Quoting Saxon
Haha, my pulse is high.

In the short term, I have my eye on the following circles for small bounces if PA reaches. They are intersection points. I am bearish overall though. Me and you have similar S/R it seems
Wow. Nailing them tonight! First was Daily S1 at 9242 and now hit right on 9255! Good thing because this afternoon was a waste of my time!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #786
  • Apr 26, 2010 11:34pm Apr 26, 2010 11:34pm
Here is my EU chart. As you can see, I am not picking a direction but just placing circles on areas where I might book a trade. The one closest to PA would be a meeting of 3 different MAs, LTL and S/R. If this is broken, then I see "00" and LTL intersection next friction point. Above is 50 fib, enough said. Above that would be a meeting of "00" 1.35, 61 fib and UTL. I have no direction, be these are areas where I would be really looking to trade on friction.
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  • #787
  • Apr 27, 2010 7:25am Apr 27, 2010 7:25am
Woohoo, no more London trading for me, trading NY session now I'll be on from 8 am EST to 6 pm EST. I'll still trade 1 or 2 London days a week depending on data releases. At least now I will be able to re-introduce myself to the sun and say goodbye to the moon
  • #788
  • Apr 27, 2010 8:15am Apr 27, 2010 8:15am
Saxon, what is your TP for the friction trade on A/U?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #789
  • Apr 27, 2010 8:38am Apr 27, 2010 8:38am
Reason I ask about the TP is because I have not got a clue as to how much longer this pattern will last. Also, I'm throwing up my chart so everyone can see how I trade with my 21 and 35 ma's on the M15. I know that there are some new people in here and this might be very helpful. If anyone has questions just let me know.
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 161 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #790
  • Apr 27, 2010 10:55am Apr 27, 2010 10:55am
Quoting MarcVUM
Saxon, what is your TP for the friction trade on A/U?
It was 20 pips, I TP and it still went for another 20 or so pips and then just had a fun drop. So most of my friction trades are only for about 20 pips then BE stop and/or TP. You could take half and BE stop. I had to leave the desk so I took 20 pips and got out.
  • #791
  • Apr 27, 2010 10:57am Apr 27, 2010 10:57am
Quoting Saxon
It was 20 pips, I TP and it still went for another 20 or so pips and then just had a fun drop. So most of my friction trades are only for about 20 pips then BE stop and/or TP. You could take half and BE stop. I had to leave the desk so I took 20 pips and got out.
Also, sorry for the late reply, I was in a meeting for the last few hours and had to commute as well. Starting tomorrow I will be on-desk for 12 or so hours during NY session from now on so my replies will be more prompt
  • #792
  • Apr 27, 2010 11:19am Apr 27, 2010 11:19am
Hi. Saxon

A/U drop fast , do you thing weekly S1 9168 can hold? bcause daily S3 at 9198. has been breach..
any comment will be appreciated...

Money
  • #793
  • Apr 27, 2010 11:22am Apr 27, 2010 11:22am
Quoting $Money$
Hi. Saxon

A/U drop fast , do you thing weekly S1 9168 can hold? bcause daily S3 at 9198. has been breach..
any comment will be appreciated...

Money
Hi Money. It got stopped by the previous lows at 9157 a while back. but will probably test the LTL and then resume the downtrend.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #794
  • Apr 27, 2010 11:27am Apr 27, 2010 11:27am
Thanks Saxon, I am long ( scalping ) 10-20 pips target, entry point at weekly S1 9168..after maybe short again for longer period..
  • #795
  • Apr 27, 2010 12:53pm Apr 27, 2010 12:53pm
exited at 9200, waiting to short... i think maybe daily PP S3 at 9198 will be good resistance holding A/U to go up
  • #796
  • Apr 27, 2010 2:30pm Apr 27, 2010 2:30pm
Made 300 pips on GBP/JPY overnight, now I'm trying an E/U scalp off 1.32 targeting 1.33/1.34, with very close SL 1.319. Low confidence in this trade as it's counter-trend, but I thought I'd try.
  • #797
  • Apr 27, 2010 2:41pm Apr 27, 2010 2:41pm
Quoting Clouds
Made 300 pips on GBP/JPY overnight, now I'm trying an E/U scalp off 1.32 targeting 1.33/1.34, with very close SL 1.319. Low confidence in this trade as it's counter-trend, but I thought I'd try.
stopped out quickly. now trying get in a BE stop with short usd/chf around 1.875
  • #798
  • Apr 27, 2010 3:56pm Apr 27, 2010 3:56pm
Quoting $Money$
Hi. Saxon

A/U drop fast , do you thing weekly S1 9168 can hold? bcause daily S3 at 9198. has been breach..
any comment will be appreciated...

Money
Hey Money,
Ya, PA tested "00" after the previous low had been tested. Marc was right on with his prediction about coming up to test LTL and back down. I have no trade setups for this pair yet. I am runing my charts and should have 1 or 2 soon.

I am getting settled with my new hours so I will still be on and off today, but tomorrow will be throwing up charts and setups a lot faster than today
  • #799
  • Apr 27, 2010 3:57pm Apr 27, 2010 3:57pm
Quoting Clouds
Made 300 pips on GBP/JPY overnight, now I'm trying an E/U scalp off 1.32 targeting 1.33/1.34, with very close SL 1.319. Low confidence in this trade as it's counter-trend, but I thought I'd try.
300 pips overnight is great, nice job!
  • #800
  • Apr 27, 2010 5:10pm Apr 27, 2010 5:10pm
Quoting Saxon
300 pips overnight is great, nice job!
Thanks. Check out usd/chf hitting March highs of 1.09. Yesterday's candle is too big for it to continue today, IMO. Let's see if it gets down to 1.08 tonight.
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