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Nearly Naked (Simple Trades)

  • #6,641
  • Jul 21, 2010 3:30pm Jul 21, 2010 3:30pm
I took 2 small buy postiion with SL 100 pips and first TP about 230 pips



reason is very good last swing on H4 and also on daily Hilo looks good for buy and i think this is corection and we wait fifth wave but we will see



Charts >
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"Buy on fear, sell on greed !!!
  • #6,642
  • Jul 21, 2010 3:38pm Jul 21, 2010 3:38pm
S&P 500 Daily candle... just formed a Bearish Dark Cloud Cover.

This is helpful with determining the future PA of A/U. A/U's Daily candle has another 20 minutes to close but is also a very bearish sign for future PA.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,643
  • Jul 21, 2010 3:49pm Jul 21, 2010 3:49pm
UCHF Formation...ideas?
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  • #6,644
  • Jul 21, 2010 3:55pm Jul 21, 2010 3:55pm
lots of resistance. Though the blue 100 SMA has me a bit worried for a short. Any ideas?
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  • #6,645
  • Jul 21, 2010 4:15pm Jul 21, 2010 4:15pm
Quoting Saxon
UCHF Formation...ideas?
personally I think that PA has moved past 70% distance and not broken, so the reliability of this shape is suspect.....
  • #6,646
  • Jul 21, 2010 4:22pm Jul 21, 2010 4:22pm
Hi Saxon,

From what I know about triangle formations, I would agree that this one has become suspect. Looking at the weekly chart however, I would be bearishly biased...

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It's not about how much you make, it's about how much you don't lose.
  • #6,647
  • Jul 21, 2010 5:31pm Jul 21, 2010 5:31pm
Hi All

Anyone have a view on EU? For me I think it should continue up until it meets the yellow highs in August and all my other charts show a long opportunity down here but...the psar dots have changed and when I ignore that it is usually to my detriment, but I just don't see 1.3028 being the top of this swing up. Tricky.
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  • #6,648
  • Jul 21, 2010 5:37pm Jul 21, 2010 5:37pm
Quoting amyc
Hi All

Anyone have a view on EU? For me I think it should continue up until it meets the yellow highs in August and all my other charts show a long opportunity down here but...the psar dots have changed and when I ignore that it is usually to my detriment, but I just don't see 1.3028 being the top of this swing up. Tricky.
Amy,

PA should probably retest the old red TL I have drawn here before heading back up ... I am waiting for a bullish candle on the H4 before taking a long but I will not be taking any trades on this pair until after Friday when the stress tests are completed.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,649
  • Jul 21, 2010 5:55pm Jul 21, 2010 5:55pm
Quoting amyc
Hi All

Anyone have a view on EU? For me I think it should continue up until it meets the yellow highs in August and all my other charts show a long opportunity down here but...the psar dots have changed and when I ignore that it is usually to my detriment, but I just don't see 1.3028 being the top of this swing up. Tricky.
For both the euro and the pound we haven't seen any kind of real retracement of this upthrust, I suspect both will go higher.

For the euro I would need to see a break-retest (on the daily or weekly)of 1.25 before I could call this a short again. For the pound I'm looking at 1.4750 as a level where it will become apparent if we will continue upward or head south indefinitely.
  • #6,650
  • Jul 21, 2010 6:19pm Jul 21, 2010 6:19pm
Quoting MarcVUM
Amy,

PA should probably retest the old red TL I have drawn here before heading back up ... I am waiting for a bullish candle on the H4 before taking a long but I will not be taking any trades on this pair until after Friday when the stress tests are completed.
Hi Marc

If your red line comes in around 1.2680 I think it is a little too low for me. I think it may possibly have already put in a bottom but I would prefer it continue down to the 1.2710 area, below here and I would be less keen on a long.
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  • #6,651
  • Jul 21, 2010 6:24pm Jul 21, 2010 6:24pm
Some EU charts
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  • #6,652
  • Jul 21, 2010 7:14pm Jul 21, 2010 7:14pm
Always following this thread.
Thank you all for great analysis.
My view on Aud/Usd
If nothing really horrible happens, then I expect a nice bounce from the trendline, which also comes close with weekly pivot and daily support.
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  • #6,653
  • Jul 21, 2010 7:34pm Jul 21, 2010 7:34pm
Yep
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Annoying Precision
  • #6,654
  • Jul 21, 2010 10:04pm Jul 21, 2010 10:04pm
Quoting perstoman
Always following this thread.
Thank you all for great analysis.
My view on Aud/Usd
If nothing really horrible happens, then I expect a nice bounce from the trendline, which also comes close with weekly pivot and daily support.
That LTL ended up working out even though PA dropped below W PP and D S1. I'm still kind of skeptical though since the orange and pink ma's just crossed...it's not normal for PA to break through the both of them so soon after a cross. Then again I have seen stranger things before!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #6,655
  • Jul 22, 2010 1:44am Jul 22, 2010 1:44am
anyone watching the gbp/jpy?

new low
  • #6,656
  • Jul 22, 2010 5:44am Jul 22, 2010 5:44am
Blast-off in AU. It's got much overhead resistance to work on though, a little further north.
  • #6,657
  • Jul 22, 2010 6:03am Jul 22, 2010 6:03am
I lost trade on eurjpy yesterday but its ok now i have again 2 positions buy from 111.15 with TP 113.00 and sec TP 118.50

Also eurusd looks good current +140 and cable also
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"Buy on fear, sell on greed !!!
  • #6,658
  • Jul 22, 2010 6:04am Jul 22, 2010 6:04am
Quoting Petar_Serbia
I lost trade on eurjpy yesterday but its ok now i have again 2 positions buy from 111.15 with TP 113.00 and sec TP 118.50

Also eurusd looks good current +140 and cable also
cuvaj misho rep .... (you know the rest.. )

anyway be carefull.. with longs

poz!
  • #6,659
  • Jul 22, 2010 6:10am Jul 22, 2010 6:10am
Quoting Piters
cuvaj misho rep .... (you know the rest.. )

anyway be carefull.. with longs

poz!
I am always carefull becouse i trade stictly accordinng MM and i dont scare for anything i just trade every my setup but anyway thanks for advice




Cheers
"Buy on fear, sell on greed !!!
  • #6,660
  • Jul 22, 2010 7:30am Jul 22, 2010 7:30am
Quoting amyc
Hi Marc

If your red line comes in around 1.2680 I think it is a little too low for me. I think it may possibly have already put in a bottom but I would prefer it continue down to the 1.2710 area, below here and I would be less keen on a long.
You called it Amy.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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