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  • #2,361
  • Jun 17, 2010 12:34am Jun 17, 2010 12:34am
Quoting coolshades
why the sell on ey there? its a strong resistance line and as far as i can see h1 tl has not been broken.
TL has broken and we have a new falling TL and entered trade at break of recent 1HR cluster...it's the way I play intraday trends...breaks of support with SL above recent cluster...as per the Peaks and Valleys thread.

If you catch a trend on 1HR / 4HR and play each break of support / resistance clusters then you make big bucks...actually doing this on any time frame works. Obviously if the trend reverses or if you are wrong about the trend you get stopped out...but the key is getting the initial trend entry right then entering on further breaks is psychologically easy as you've already got open profit to play with.

When the markets are trending well intraday...trades like this have really helped my account...the bulk of my 100% gain weeks were due to P&V trading.

Not looking good this time...and it highlights that it can be aggressive as you can get some false 'breakouts' but as long as you are in good trend normally you are ok...could be false breakouts this time and pin bar forming on1HR...if so I'll get out of my trades.
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  • #2,362
  • Jun 17, 2010 12:46am Jun 17, 2010 12:46am
Quoting lovejoy80
TL has broken and we have a new falling TL and entered trade at break of recent 1HR cluster...it's the way I play intraday trends...breaks of support with SL above...
Problem is (or what I see) is that it's all uphill from here...

Breakout and retest.
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  • #2,363
  • Jun 17, 2010 12:55am Jun 17, 2010 12:55am
Long UCh anyone? At important area, but that's one big BEOB.
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  • #2,364
  • Jun 17, 2010 1:21am Jun 17, 2010 1:21am
Quoting neutro
Long UCh anyone? At important area, but that's one big BEOB.
I would have taken a touch trade short if I'd seen a retest of that TL. I wouldn't be going against that BEOB myself.
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  • #2,365
  • Jun 17, 2010 1:32am Jun 17, 2010 1:32am
Quoting neutro
Problem is (or what I see) is that it's all uphill from here...

Breakout and retest.
...should have maybe cut when pin bars formed...fxpro crashed on me lots of times this morning so missed most of it...keeps crashing when I try and look at my indicators on my chart hmmmm.

Thats the problem when you have 2 different trading methods going against each other...PA saying go long...and equities if looking at trend, but P&V saying go short and if looking at equities in more depth...there is more room to go south than go against the resistance above.

In retrosepct I should have taken profit when YMUO couldn't break its support and TL...I was 2.5% up across those 4 trades at one point.

This is the reason I wouldn't be buying right now...
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  • #2,366
  • Jun 17, 2010 1:34am Jun 17, 2010 1:34am
Quoting lovejoy80
...should have maybe cut when pin bars formed...fxpro crashed on me lots of times this morning so missed most of it...keeps crashing when I try and look at my indicators on my chart hmmmm.

Thats the problem when you have 2 different trading methods going against each other...PA saying go long...and equities if looking at trend, but P&V saying go short and if looking at equities in more depth...there is more room to go south than go against the resistance above.

In retrosepct I should have taken profit when YMUO couldn't break its support and TL...I...
Another 3% down the drain. Going CT is not the way.
  • #2,367
  • Jun 17, 2010 1:45am Jun 17, 2010 1:45am
Quoting neutro
Long UCh anyone? At important area, but that's one big BEOB.
Wait for a nice PB at 1.2 or even 1.1. A touch trade is too risky after such a steep move IMO
  • #2,368
  • Jun 17, 2010 1:47am Jun 17, 2010 1:47am
Quoting ogeid
Wait for a nice PB at 1.2 or even 1.1. A touch trade is too risky after such a steep move IMO
I know, I was waiting for something on the M30, but it keeps on getting hammered.
  • #2,369
  • Jun 17, 2010 1:54am Jun 17, 2010 1:54am
Was this not obvious ? 1.4 tons of resistance and a beautiful pin. What a miss
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  • #2,370
  • Jun 17, 2010 2:00am Jun 17, 2010 2:00am
Some current charts of interest.
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  • #2,371
  • Jun 17, 2010 2:07am Jun 17, 2010 2:07am
Quoting neutro
I know, I was waiting for something on the M30, but it keeps on getting hammered.
There is also an additional element of confluence: 1st time back to EMA 365.
We just need to wit for PA
  • #2,372
  • Jun 17, 2010 2:14am Jun 17, 2010 2:14am
more...

Would take the BUOB on GU but going right into a PPZ.

There was a touch trade opportunity though @ 50/61 fibs and TL...I got caught with the false breakout and trend on 1HR was down....got burnt.

Plan to trade the range on GJ

same with EJ...TL resistance to close to BUOB...but will play with tight SL.

Will play UC BEOB too...could be the catalyst to a breakout.
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  • #2,373
  • Jun 17, 2010 2:18am Jun 17, 2010 2:18am
Quoting ogeid
Was this not obvious ? 1.4 tons of resistance and a beautiful pin. What a miss
I dont watch that pair...but wow it is very good. CHF pairs all had Pa for shorts on 1HR and 4Hr...UCHF has 4HR BEOB but too much trouble below for me but the 1HR Pa would have been good.
  • #2,374
  • Jun 17, 2010 2:32am Jun 17, 2010 2:32am
Potential EU scenario based on daily falling TL
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  • #2,375
  • Jun 17, 2010 2:43am Jun 17, 2010 2:43am
Quoting ogeid
Potential EU scenario based on daily falling TL
I have that too...it's also a 50% fib retracement from May 10th swing.

If dow is @ 10430 when this happens even better
  • #2,376
  • Jun 17, 2010 2:46am Jun 17, 2010 2:46am
Anyone have any ideas why, whenever I try and look at the current indicators on any of my charts FxPro crashes..works fine apart form this...bit odd
  • #2,377
  • Jun 17, 2010 2:50am Jun 17, 2010 2:50am
Quoting lovejoy80
I have that too...it's also a 50% fib retracement from May 10th swing.

If dow is @ 10430 when this happens even better
If we round it up it will be 10500. It is 100 pips faraway for both. IMO
  • #2,378
  • Jun 17, 2010 2:53am Jun 17, 2010 2:53am
Only trade I'm in...2% at risk...pending short is below the recent lows...i.e. a breakout and also on my Alpari the 4H close in 10 mins will likely be a BEOB too so its essentially playing that as well.
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  • #2,379
  • Jun 17, 2010 2:54am Jun 17, 2010 2:54am
Quoting lovejoy80
Anyone have any ideas why, whenever I try and look at the current indicators on any of my charts FxPro crashes..works fine apart form this...bit odd
Do you mean when you open "Indicators List" ?

Pretty sure Neutro can help you. Check terminal.exe once somebody said to me
  • #2,380
  • Jun 17, 2010 2:57am Jun 17, 2010 2:57am
A note on results since May20th (new account date)... I end my trading weeks on Wednesdays nowand the weekly gain /loss is as follows :

26th May +10.17%
2nd June +8.34%
9th June 0 (holiday)
16th June +8.33%

This does include a cash injection form another venture...this week otherwise this week would have been a small loss. I'm mesuring total balance gain as that's the most important thing for me. Without the cash injection the last week would have been -5.42% so plenty to do in terms of improvement for this week...in fact that was my first trading week loss for a very long time.
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