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Backing Trades Thru Charts

  • #941
  • Jun 6, 2010 7:36pm Jun 6, 2010 7:36pm
EUR/USD Let's see if there are some Bulls around

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  • #942
  • Jun 6, 2010 10:43pm Jun 6, 2010 10:43pm
Quoting perstoman
Well it didn't go as high as I wanted to short, but there was a great opportunity to short this pair on Friday.
This is what I am looking at the moment, and I would love to see a strong rebound from the touch of the lower trendline.
Even though Asian indexes are expected to fall hard today, I am trading what I am seeing on the chart.
Stopped out at BE just like everyone else...
Will be looking to short when I see a retest!

Be back during London Open!
  • #943
  • Edited 2:38am Jun 7, 2010 2:19am | Edited 2:38am
OK, I'm supposed to be writing a schedule for my classes this week, but I can't help myself. So here's a GBPCHF trade just taken.

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And here's the channel.

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Every time you use 'hopium' in a post, God kills a kitten.
  • #944
  • Jun 7, 2010 4:18am Jun 7, 2010 4:18am
The trade mentioned here:

http://www.forexfactory.com/showpost...&postcount=899

is progressing nicely. Here's an update and my entry point.

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Every time you use 'hopium' in a post, God kills a kitten.
  • #945
  • Jun 7, 2010 4:23am Jun 7, 2010 4:23am
Quoting profxtrader
The trade mentioned here:

http://www.forexfactory.com/showpost...&postcount=899

is progressing nicely. Here's an update and my entry point.

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Hello, why you use a volume indicator with such a terminal like metatrader, do you belive in the market data for volume wich are in metatrader?
  • #946
  • Jun 7, 2010 6:02am Jun 7, 2010 6:02am
Quoting profxtrader
OK, I'm supposed to be writing a schedule for my classes this week, but I can't help myself. So here's a GBPCHF trade just taken.

Attachment

And here's the channel.

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+ This Bearish Spot

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  • #947
  • Jun 7, 2010 8:47am Jun 7, 2010 8:47am
How low can it go?
Entered short on the touch of the broken Trendline.
I hope to see a new low today, but that's only what I am hoping for.
Already moved my SL to BE and will leave it open.
Had couple losses today./..what a horrible way to start a great week!!lol
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  • #948
  • Jun 7, 2010 9:53am Jun 7, 2010 9:53am
Quoting Tickdata
Hello, why you use a volume indicator with such a terminal like metatrader, do you belive in the market data for volume wich are in metatrader?
It's tick volume, and while not true volume, the more price changes that happen within a given timeframe means more buying or selling during that timeframe. While it's not perfect, it's a decent indication of what's going on within that particular bar.
Every time you use 'hopium' in a post, God kills a kitten.
  • #949
  • Jun 7, 2010 11:41am Jun 7, 2010 11:41am
Keep in mind that we just bounced off from a major TL #941 . I expect a decent pull back before any LL's, (the flag pole is 115 pips). Right now Bulls are in good shape.

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  • #950
  • Jun 7, 2010 11:59am Jun 7, 2010 11:59am
Quoting TheLastCoke
Keep in mind that we just bounced off from a major TL #941 . I expect a decent pull back before any LL's, (the flag pole is 115 pips). Right now Bulls are in good shape.

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I guess it depends on your TF. What I see at higher TF is that 1.2000 has pivoted from support to resistance. Fundamentals also indicate bearish. Analysts say next support level is 1.17. So that is my take for what it is worth which is not much.
  • #951
  • Jun 7, 2010 12:07pm Jun 7, 2010 12:07pm
Quoting EasySt
I guess it depends on your TF. What I see at higher TF is that 1.2000 has pivoted from support to resistance. Fundamentals also indicate bearish. Analysts say next support level is 1.17. So that is my take for what it is worth which is not much.
One step at a time.
  • #952
  • Jun 7, 2010 12:12pm Jun 7, 2010 12:12pm
Quoting TheLastCoke
One step at a time.
At Daily/H4 TF a person could short and aim for 1.17 right now but it could be a few days. Again, just my opinion. I could be wrong.

At H1 I would be looking for a short on next up swing around 1.90 and TP around 1.80 but that isn't much of an R:R IMHO. Then again it could very well shoot back up to 1.21 for a few days. I think the fundamentals are very influential right now. The market seems to be looking for any excuse to buy/sell Euro. Slightest bit of news +/- and the market reacts fairly dramatically.
  • #953
  • Jun 7, 2010 12:18pm Jun 7, 2010 12:18pm
Quoting EasySt
At Daily/H4 TF a person could short and aim for 1.17 right now but it could be a few days. Again, just my opinion. I could be wrong.

At H1 I would be looking for a short on next up swing around 1.90 and TP around 1.80 but that isn't much of an R:R IMHO. Then again it could very well shoot back up to 1.21 for a few days. I think the fundamentals are very influential right now. The market seems to be looking for any excuse to buy/sell Euro. Slightest bit of news +/- and the market reacts fairly dramatically.
Trade what's given.
  • #954
  • Jun 7, 2010 12:46pm Jun 7, 2010 12:46pm
Hello TheLastCoke,

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No crystal ball. I read the cards.
  • #955
  • Jun 7, 2010 1:16pm Jun 7, 2010 1:16pm
Quoting intery
Hello TheLastCoke,

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I'm waiting for a second retest to your TL, If there is a powerful rejection I'll take profit and load shorts.
  • #956
  • Jun 7, 2010 2:39pm Jun 7, 2010 2:39pm
AUD/CAD Approaching major Fibos.

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  • #957
  • Jun 7, 2010 6:32pm Jun 7, 2010 6:32pm
Quoting perstoman
How low can it go?
Entered short on the touch of the broken Trendline.
I hope to see a new low today, but that's only what I am hoping for.
Already moved my SL to BE and will leave it open.
Had couple losses today./..what a horrible way to start a great week!!lol
Nothing really happened with Euro today...
I was hoping to see a new low, but it never happened.
However, I am sticking with my current short position.
Maybe Asia will bring it down!
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  • #958
  • Jun 7, 2010 7:46pm Jun 7, 2010 7:46pm
Probably most of G/J traders are looking at same thing on 4hr TF.
I usually trade 5-15m TF, but this is worth noticing
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  • #959
  • Jun 7, 2010 8:27pm Jun 7, 2010 8:27pm
Retest and drop?
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  • #960
  • Jun 8, 2010 8:01am Jun 8, 2010 8:01am
Quoting TheLastCoke
EUR/CHF worked just fine the last time for a crab #632 (+500 pips target) . This time there is a butterfly + a daily TL. Points B C and D met the parameters.

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Stopped Out -50
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