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Nearly Naked (Simple Trades)

  • #6,441
  • Jul 17, 2010 4:20pm Jul 17, 2010 4:20pm
S&P 500... a couple of perspectives on the S&P. I use this to help my */U trades particularly A/U...

1st chart: This is a 3yr Daily chart and the PA patterns highlighted look eerily the same when the MA's that I use are added to the chart! Interesting.
2nd chart: This is a H1 chart and zooms into what kind of looks like an HNS pattern forming... I am not a big fan of the HNS but I still watch out for them.

My short-term outlook: If the S&P 500 sees buying on Monday then it may signal that the past two days of selling is only a short-term low and therefore the buying will continue... If the S&P 500 sees more selling on Monday then it is very possible that a new low on the Daily chart is coming around the corner!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,442
  • Jul 17, 2010 4:28pm Jul 17, 2010 4:28pm
Quoting MarcVUM

My short-term outlook: If the S&P 500 sees buying on Monday then it may signal that the past two days of selling is only a short-term low and therefore the buying will continue... If the S&P 500 sees more selling on Monday then it is very possible that a new low on the Daily chart is coming around the corner!

I keep watching the volume on the indexes, and mostly it hasn't been there, until Friday that is.

S&P was only moderate, but the DJIA had a nice spike. I can't really say weather or not we'll see a retracement to shake out the weak shorts, or if it will just plain plunge, but I'm looking for short ops in general.

And if you're a fan of weekly PA, the kiwi printed a nice pin. That's about the only thing on my radar unless gold retests the flag LTL, then I would like to short it as well.
  • #6,443
  • Jul 17, 2010 4:43pm Jul 17, 2010 4:43pm
Quoting Low
And if you're a fan of weekly PA, the kiwi printed a nice pin.
Just took a look... that is a nice pinbar! Also look at the 35sma and 50sma crossover as it relates to the historical crosses. Thanks for pointing last weeks bar out to me!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,444
  • Jul 17, 2010 4:46pm Jul 17, 2010 4:46pm
With the N/U weekly in mind here is the A/U weekly chart. Nice!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,445
  • Jul 17, 2010 4:50pm Jul 17, 2010 4:50pm
Quoting MarcVUM
Just took a look... that is a nice pinbar! Also look at the 35sma and 50sma crossover as it relates to the historical crosses. Thanks for pointing last weeks bar out to me!
I'm not an MA guy, but I think they're self-fulfilling in the stock markets because so many traders use the same ones. If you look at the DOW you'll also see the high-vol selling coming off of the 50 DMA, and sustained by the cross of the 50 and 200.

Hence my desire mostly for shorts. I'm a little skeptical of EU and GU still, and will need to tighten up my stops on the latter come Monday.
  • #6,446
  • Jul 17, 2010 5:09pm Jul 17, 2010 5:09pm
oh yes, NU does look tempting, and with a 4H dhlc, one might take a punt with 0.50% risk. And a 50 pip SL
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #6,447
  • Jul 17, 2010 5:12pm Jul 17, 2010 5:12pm
A/U C.O.T.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,448
  • Jul 17, 2010 11:09pm Jul 17, 2010 11:09pm
Possible short term buy within the downtrend
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  • #6,449
  • Jul 17, 2010 11:15pm Jul 17, 2010 11:15pm
Also continuing to look for AUD/JPY shorts within the downtrend.
  • #6,450
  • Jul 18, 2010 4:01am Jul 18, 2010 4:01am
au
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GREENIUS
  • #6,451
  • Jul 18, 2010 6:45am Jul 18, 2010 6:45am
shs on EC
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GREENIUS
  • #6,452
  • Jul 18, 2010 7:17am Jul 18, 2010 7:17am
I must post this chart, Double Top HIlo formation is very rare on daily and very powerfull but now is formed and i think USDCAD can go down very soon i plan to open two trades and try to catch as much i can ..






Cheers and trade safe



Petar
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"Buy on fear, sell on greed !!!
  • #6,453
  • Jul 18, 2010 10:37am Jul 18, 2010 10:37am
Quoting Petar_Serbia
I must post this chart, Double Top HIlo formation is very rare on daily and very powerfull but now is formed and i think USDCAD can go down very soon i plan to open two trades and try to catch as much i can ..






Cheers and trade safe



Petar
nice see my point of view
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GREENIUS
  • #6,454
  • Jul 18, 2010 11:14am Jul 18, 2010 11:14am
USDCHF & inside bar
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GREENIUS
  • #6,455
  • Jul 18, 2010 11:31am Jul 18, 2010 11:31am
Quoting Petar_Serbia
I must post this chart, Double Top HIlo formation is very rare on daily and very powerfull but now is formed and i think USDCAD can go down very soon i plan to open two trades and try to catch as much i can ..






Cheers and trade safe






Petar
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  • #6,456
  • Edited 12:39pm Jul 18, 2010 12:25pm | Edited 12:39pm
Quoting jacks
Hi Everybody this is my first post here and i like this thread so i will jump by more the trading style you guys use is a bit the same i use.

Oke the question i have is i am now demo trading for like 3 years and i am the last year or the last 8 months become profitable.

But the question is i really like fxpro as a broker but i have only got 1000dollars to invest for real account (money i can lose).
But the problem with fxpro is they dont have mini or micro accounts you guys think it is also reasonble to start a account there but with a levarage...
Welcome to the thread. If you are starting out with your first "Real" account, then trade small and use as little leverage as possible. IBFX or FXCM might have an account that can start with 1K. Starting with only 1K, you will probably have to use 10X leverage to book a small trade (.1 lot). I would start with booking only really really high probabiliy stuff (maybe only one or two trades a week) to get a nice profit buffer. Then you can book some more speculative stuff and only risk your buffer, not your initial. that's what I would do. Never risk your own money (try not to )....
  • #6,457
  • Jul 18, 2010 12:50pm Jul 18, 2010 12:50pm
Running my charts now. Marc, you can check your gaps here http://www.fxstreet.com/rates-charts/
  • #6,458
  • Jul 18, 2010 2:08pm Jul 18, 2010 2:08pm
Quoting jacks
Hi Everybody this is my first post here and i like this thread so i will jump by more the trading style you guys use is a bit the same i use.

Oke the question i have is i am now demo trading for like 3 years and i am the last year or the last 8 months become profitable.

But the question is i really like fxpro as a broker but i have only got 1000dollars to invest for real account (money i can lose).
But the problem with fxpro is they dont have mini or micro accounts you guys think it is also reasonble to start a account there but with a levarage...
I really like Oanda, no minimum account balance. No minimum lot size. Terrible charting and TA...But hey, that's what MT4 demo's are for.

No spam/junk mail, easy customer service, web-based client, and easy trade management.

I have nothing but good things to say about them. Their demo is identical to their live account too. Beware, they have variable spreads, so instead of slippage and requotes, spreads widen during news and periods of low liquidity.
  • #6,459
  • Jul 18, 2010 2:23pm Jul 18, 2010 2:23pm
Quoting greenius
nice see my point of view
Tnx greenius,

I posted Daily DTOP Hilo formation but look this baby on weekly.
ON weekly we have Hilo in corection mode and very strong Res,also main trend is absolutly down ...


Just wait good moment to open sell and then to enjoy fhishing ...



Cheers and trade safe
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"Buy on fear, sell on greed !!!
  • #6,460
  • Jul 18, 2010 2:31pm Jul 18, 2010 2:31pm
Quoting Petar_Serbia
Tnx greenius,

I posted Daily DTOP Hilo formation but look this baby on weekly.
ON weekly we have Hilo in corection mode and very strong Res,also main trend is absolutly down ...


Just wait good moment to open sell and then to enjoy fhishing ...



Cheers and trade safe
Some friction areas too
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