My path to financial freedom

Area of interest?

Definitely!

Took profits on all my shorts...don't want to be caught out by the retracement bus going into US open. Have YMO short open and ECAd long and that's it.

lj, look at AU @ 86.. maybe a possible short?

This one needs to go somewhere soon from 1.48 TL at 1.5 BRN

Price is trapped between 1.4750 and 1.4800 - which is a 50% fib and PPZ area...much will depend on equity markets as highlighted previously.

I'm not a fan of longs at the moment just because of the amount of resistance on YMMO...firstly @ 10370 and then a bigger area @10430-40 area. Plus the divergence on GU 4HR is putting me off longs too.

Why?

http://www.forexfactory.com/showpost...postcount=1568

however will wait to see how current h4 bar closes.

Ahhh the power of people drawing TL's differently lol

yes, i have redrawn it on my current charts and it does look like yours now and it STILL closes below the TL, albeit just about.

hence, i will wait to see close of current bar!

I don t know, as said this morning pairs are not really moving. We had 2 USD important news with no move. I do not understand this choppy day.

YM 10500 = GU 1.5 but as you said

Okay let's give this a go...YMUO @ 10350 resistance area with divergence (1HR)...AU near 61 fiband PPZ and divergence, EU @ PPZ area, GJ near PPz and 50 fib area, UJ bouncing of broken TL on 1HR

Bailed out for tiny profit as although a 1HR pin bar formed on dow it retraced quickly.

Took gold touch trade long though...got in very late really.

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Regretting cutting my G/AUd daily pin trade earlier when price went above left eye...it should go to the obvious TP now...damn sometimes I'm too advanced for my own good lol!

GU second order triggered

Last pending trade before bed...gold...1%...confluence of TL's and fibs...I;ve been looking for a good long entry to get in with the trend for a while.

Rest of week is gonna be interesting...dow cant hold above 10350 for long and majors are all at or near strong daily PPZ levels...I'd really like a sell of to happen like we used to get i.e. dow hangs around resistance falls sharply taking xxx.jpy with it having made PA to give us the signal before hand. I want those days back...last time it happened I made 37% in one day! Thursdays are normally good sell off days too. Here's hoping!

That's more like it... GU trades hit TP to the pip and is now hovering on the 50% fib...will we bounce ro break down...not sure depends how YMUO reacts to its rising TL.

Gold pending order not hit

pending trades...

Normally I wouldn't have exited my GU trades...I would have just moved stop down but as overnight I used a TP. Still need to get into a trade manger...just need to demo it a bit more ...

I do have some small GU and GJ trades open on Oanda ...these were speculative positions with no fixed SL.

Remember I was saying about taking some trades on demo....ie. what I've done is if I think dow is going to move down loading up[ on most of the major xxx/usd and xxx/jpy and leaving them until proven wrong technically i.e. dow closing above resistance. Well using fixed 1.0 lots on a £50k account has meant that account is up nearly 25% in three days! Obviously I've not taken risk management into account in that I have not used stops (although I know the areas I would close the trades at) and more importantly I have not calculated maximum equity @ risk in the event all the trades got stopped out...but it's an interesting way of trading that I've seen a fair few people implement recently i.e. using fixed lot sizes rather than lot sizes calculated on exact account risk. It's obviously not for the faint hearted as if you got it wrong you'd be down a a fair bit...but on the basis that I am right a lot more than I am wrong in my overall analysis it's an approach I am going to start implementing on small scale on Oanda.

I feel it works well in the current environment where we have not had many clear PA driven trades this week but currencies have moved in line with dow movements and thus when dow approaches resistance just sell a basket of currencies. Thus I'll start doing this making sure that my mental stops on all pairs would not put my account at risk more than 2% cumulatively. It wont be something that I'll do everyday...especially if we have clearer trade setups in accordance with my normal trade criteria.

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why the sell on ey there? its a strong resistance line and as far as i can see h1 tl has not been broken.

Sound right? I'm with you on GU (until 1.4605 for now) and EU (1.2205).

I would really like to see that H1 BEOB work on GU. I don't see why it wouldn't, being in the first hour of 'normal' trading, it should be the signal for the day to take us at least to 1.46, if not 1.45.

edit: LJ, how do you get your charts so crispy and sharp? I can't get mine to look like yours, and we both use the same capturing program...