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  • #81
  • Jul 13, 2010 3:56am Jul 13, 2010 3:56am
Ok guys after hunting around for almost two hours two trades are in the making one is aud/jpy, reason I'm not taking that trade and not posting chart is stop needs to be over 80pips if the trade were successful you wlll be looking at around 60-65 pips doesn't make sense from MM point of view.

Ok trade I'm currently looking at is on EU 1H two of three criteria met however the candle formation is a little tricky not so sure if this candle is a bullish pin now as body of candle is fairly same as candle wick, however if u look at the chart you can see a fairly clear divergence price making lower low, stochastic making lower high, also you have 1h trend line support and price is moving back to E200 that's orange MA on my chart. so tricky situation here as 70% trade forms within boundary of system but bcz of candle pattern doesn't maybe I'll wait to see if next candle forms a doji than may enter long, will keep u updated, sorry for extra explanation but in trading you have to try to see it clearly I feel.
Attached Image (click to enlarge)
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  • #82
  • Jul 13, 2010 4:10am Jul 13, 2010 4:10am
thanks kdx,

i have a cross over of MA on GU, but waiting for candle close to enter (i still feel i should enter as soon as MA's match colour, it's +75pip difference now)

will the EU drop?? German data bad, credit ratings bad, is this a little rally before big fall? will hold my sell longer.
  • #83
  • Jul 13, 2010 4:19am Jul 13, 2010 4:19am
Quoting kraven
thanks kdx,

i have a cross over of MA on GU, but waiting for candle close to enter (i still feel i should enter as soon as MA's match colour, it's +75pip difference now)

will the EU drop?? German data bad, credit ratings bad, is this a little rally before big fall? will hold my sell longer.
buy on GU at .5072 because of 'blue' MA crossover (although i was waiting for a bit of pullback, it didn't happen-yet)
  • #84
  • Jul 13, 2010 4:24am Jul 13, 2010 4:24am
Yes EU is tricky, however looking the charts its reasonably supported in this area. You have support around 1.2550 area than you have E365 around 70 points further below which should provide some support if price go there. I was going to take the long but thought I'll wait to see the close of the current 1hour candle which has shot up so now trades looks a no no for now at least.
  • #85
  • Jul 13, 2010 4:24am Jul 13, 2010 4:24am
exit short EU at -23
  • #86
  • Jul 13, 2010 4:27am Jul 13, 2010 4:27am
Quoting kdx
Yes EU is tricky, however looking the charts its reasonably supported in this area. You have support around 1.2550 area than you have E365 around 70 points further below which should provide some support if price go there. I was going to take the long but thought I'll wait to see the close of the current 1hour candle which has shot up so now trades looks a no no for now at least.
the one thing i don't like about the Euro is all the different data releases, today, German releases poor, Portugal credit down grade now Good news for Greece bond sales. Makes for tricky entries.
  • #87
  • Jul 13, 2010 4:31am Jul 13, 2010 4:31am
bought EU at .2563 as it's crossed through 'reveral buy line' also both MA lines have changed blue (haven't crossed yet)
  • #88
  • Jul 13, 2010 4:34am Jul 13, 2010 4:34am
GU has broke it's 'breakout line' so no target, will let run. still in from .5072 SL to BE
  • #89
  • Jul 13, 2010 4:41am Jul 13, 2010 4:41am
Stop EU to BE.
Buy G/U 1.5057 at 11h00. 2 MA´s blue and XB4ind blue (No waiting for cross MA´s).
Attached Image (click to enlarge)
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  • #90
  • Jul 13, 2010 4:43am Jul 13, 2010 4:43am
Sorry, move SL to BE in GU....
  • #91
  • Jul 13, 2010 4:43am Jul 13, 2010 4:43am
Quoting kraven
the one thing i don't like about the Euro is all the different data releases, today, German releases poor, Portugal credit down grade now Good news for Greece bond sales. Makes for tricky entries.
Yes to be honest I'm still not sharp enough yet to use all the fundamental data and use it for entries just last week alone if you look at CAD CPI i think it was very bad data yet price moved up see this kind of thing time after time, a lot more goes on in the market which I've not fully grasped yet. like today price tumbling down core CPI data good and price runs up I've seen it many times the other way.
  • #92
  • Jul 13, 2010 4:45am Jul 13, 2010 4:45am
i do not enter this trade because i little repaint of golden finger.
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  • #93
  • Jul 13, 2010 5:03am Jul 13, 2010 5:03am
new entry on EU, all coditions meet.
Attached Image (click to enlarge)
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  • #94
  • Jul 13, 2010 5:05am Jul 13, 2010 5:05am
Quoting kiscan
i do not enter this trade because i little repaint of golden finger.
kiscan, have you noticed much re-painting?
  • #95
  • Jul 13, 2010 5:10am Jul 13, 2010 5:10am
Quoting kdx
Yes to be honest I'm still not sharp enough yet to use all the fundamental data and use it for entries just last week alone if you look at CAD CPI i think it was very bad data yet price moved up see this kind of thing time after time, a lot more goes on in the market which I've not fully grasped yet. like today price tumbling down core CPI data good and price runs up I've seen it many times the other way.
If i go for news release entry sometimes i see what happens minutes before news release (as i believe those in the know tend to already know) if nothing is obvious then i wait 15m after data release and then enter. sure i'll miss the beginning of the move (just what's happened here for both my current enteries) but one thing i like about FX is the news tends to filter in slowly, quick burst - i enter - steady rise.
  • #96
  • Jul 13, 2010 5:12am Jul 13, 2010 5:12am
Close G/U at 1.5097: +40 pips
Total now: +3 pips
  • #97
  • Jul 13, 2010 5:16am Jul 13, 2010 5:16am
Quoting kraven
If i go for news release entry sometimes i see what happens minutes before news release (as i believe those in the know tend to already know) if nothing is obvious then i wait 15m after data release and then enter. sure i'll miss the beginning of the move (just what's happened here for both my current enteries) but one thing i like about FX is the news tends to filter in slowly, quick burst - i enter - steady rise.
The money starting buying the GBP about an hour before the news that sent it on its way.
Every down move was sucked up.
  • #98
  • Jul 13, 2010 5:19am Jul 13, 2010 5:19am
Quoting kraven
kiscan, have you noticed much re-painting?
no, this is the first time i saw it.
  • #99
  • Jul 13, 2010 5:27am Jul 13, 2010 5:27am
this is where it gets awkward, i was at one point over 40 pips up on GU with all indi's pointing to a breakout, now i'm only 7pips up. do i go for BE and hold incase this is a minor retrace, or do i take a few pips
  • #100
  • Jul 13, 2010 5:39am Jul 13, 2010 5:39am
looking at the charts the X4 stoch may be best used for exit strategy?
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