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Backing Trades Thru Charts

  • #2,121
  • Jul 23, 2010 11:14am Jul 23, 2010 11:14am
Wow, Fridays always guarantee volatility. I seek out 30kmh winds for my windsurfing, I think I have found my favourite day for trading.

Last Coke, you have provided the boom for my mast. Thanks again.
  • #2,122
  • Jul 23, 2010 11:23am Jul 23, 2010 11:23am
Quoting TheLastCoke
If I can't be in from of my pc, I prefer to stay out. Don't like pending orders unless it is a very SPECIAL setup. I try to draw my TL's as precise as possible to get a ''to the pip bounce'' so I save the noise of samaller TF's. There are tons of opp waiting out there, If I miss the train, chances are I'll wait for the next one. There is a setup for every trade; in order for me to keep a very high RRR I restrain myself from entering once it is half way my original targets. If it didn't work at once I will probably discard the trade.
sorry bro so what youre saying is you wait for the candle to touch on bigger TF's than say the 1min?
"Millionaires don't use astrology, billionaires do"
  • #2,123
  • Jul 23, 2010 12:12pm Jul 23, 2010 12:12pm
TLC<

I don't remember if you already posted..but your GU chart worked dang near perfect on the 140 pip target. I only got 50-60 of it cause I ended up scalping but once again..thank you for the charts man

Donnie
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  • #2,124
  • Jul 23, 2010 12:30pm Jul 23, 2010 12:30pm
Do you trigger alerts/alarms for all you TL's? Thanks in advance.
  • #2,125
  • Jul 23, 2010 1:28pm Jul 23, 2010 1:28pm
Quoting getforex
How do u determine where to place your SL (I have trouble deciding)? And do you alter ur rules according to the currency pair u trade?

Also, what are your guidelines for trading on Friday, Sunday, & Monday?


No replies?
  • #2,126
  • Jul 23, 2010 2:19pm Jul 23, 2010 2:19pm
Give the guy a bit of a break, he must have alarms going off, bags of money to trip over, and his eyesight must be much dimmer by now.

LastCoke, Jt, T and pfx, thanks for a great week. And to top it all off, my latest penny stock just zoomed starting ToDay. Wow.
  • #2,127
  • Jul 23, 2010 2:24pm Jul 23, 2010 2:24pm
Quoting getforex
No replies?
this is part of learning and each of us have different risk appetites man. some stuff you just have to learn on your own. we all trade different account sizes, some different leverage and all have different risk appetite. just look for good RRR is the best way to choose your stop

Have a good weekend all
  • #2,128
  • Jul 23, 2010 5:40pm Jul 23, 2010 5:40pm
Quoting cvcamper
I was in this on also.... a 2% risk on the trade, led to a MAJOR payout.
i SHOULD KNOW BETTER on that trade just was looking for a rejection of the UTL say 40 50 pips but we go back to the earlier part it tested the bottom pip perfect rejected fiddled around had another go but nope then formed a comb HL;HH a sure sign of its forward movement and sure did ..never mind next trade ...
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  • #2,129
  • Jul 24, 2010 3:48am Jul 24, 2010 3:48am
Interesting times ahead for cable
Any thoughts TLC

Kiwi
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If you are new to Forex? Say Goodbye to your account!!
  • #2,130
  • Jul 25, 2010 9:05am Jul 25, 2010 9:05am
Hey TLC and Profxtrader - this is my first chart posting and wanted to know if your thoughts? it looks as though USD/CHF is ranging between the 2 yellow lines at the moment..

checked out profxtrader's chart last weekend and thought this looked similar to GBP/JPY..

thanks for that by the way profx- I bought right on the bottom - only super small stuff but still for once geppy didnt eat me alive LOL bailed out close to 134.6 though as wanted to close position for weekend..

thanks
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"Millionaires don't use astrology, billionaires do"
  • #2,131
  • Jul 25, 2010 9:34am Jul 25, 2010 9:34am
Quoting forex_growth
Hey TLC and Profxtrader - this is my first chart posting and wanted to know if your thoughts? it looks as though USD/CHF is ranging between the 2 yellow lines at the moment..

checked out profxtrader's chart last weekend and thought this looked similar to GBP/JPY..

thanks for that by the way profx- I bought right on the bottom - only super small stuff but still for once geppy didnt eat me alive LOL bailed out close to 134.6 though as wanted to close position for weekend..

thanks
No problem. And what I see there is a double bottom. TLC already alerted me to it, so I can't take the credit for it, but I would buy the breakout of the highest point in the pattern. Of course, as in everything else, it could prove to be something else entirely.
Every time you use 'hopium' in a post, God kills a kitten.
  • #2,132
  • Jul 25, 2010 9:40am Jul 25, 2010 9:40am
Quoting profxtrader
No problem. And what I see there is a double bottom. TLC already alerted me to it, so I can't take the credit for it, but I would buy the breakout of the highest point in the pattern.
aaah ok so you wouldn't expect it to rebound and head south again then?

additionally, I was just about to post this one too - double adam bottom also I think?

not 100% sure where the horizontal line should be exactly for the break out as its quite messy... is it on the highest candle of the down trend before forming the first "bottom"?

so again due to the double bottom you would expect it to break rather than rebound hey?


thanks
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"Millionaires don't use astrology, billionaires do"
  • #2,133
  • Jul 25, 2010 9:54am Jul 25, 2010 9:54am
Im just experimenting to see if Im on the right track with all this - USD/CAD 1H chart - seems like trending down - has had a few refusals at that support level - would it be a good time to sell if breaks it?

thanks for your input
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"Millionaires don't use astrology, billionaires do"
  • #2,134
  • Jul 25, 2010 12:35pm Jul 25, 2010 12:35pm
Quoting forex_growth
aaah ok so you wouldn't expect it to rebound and head south again then?

additionally, I was just about to post this one too - double adam bottom also I think?

not 100% sure where the horizontal line should be exactly for the break out as its quite messy... is it on the highest candle of the down trend before forming the first "bottom"?

so again due to the double bottom you would expect it to break rather than rebound hey?


thanks
I don't expect anything to be honest. I'll just trade the event as it plays out. If it breaks up, I'll trade a successful retest. If it bounces, I'll trade the short side after a successful confirmation.
Every time you use 'hopium' in a post, God kills a kitten.
  • #2,135
  • Jul 25, 2010 12:36pm Jul 25, 2010 12:36pm
Quoting forex_growth
Im just experimenting to see if Im on the right track with all this - USD/CAD 1H chart - seems like trending down - has had a few refusals at that support level - would it be a good time to sell if breaks it?

thanks for your input
A break and successful retest and rejection... yes.
Every time you use 'hopium' in a post, God kills a kitten.
  • #2,136
  • Jul 25, 2010 3:58pm Jul 25, 2010 3:58pm
Daily and 1H charts for EUR/JPY. Been consolidating for a good few days now, is she going to blow...?
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I've got my pips - go get yours!
  • #2,137
  • Jul 25, 2010 7:01pm Jul 25, 2010 7:01pm
Yen pairs at a major level
  • #2,138
  • Jul 25, 2010 7:17pm Jul 25, 2010 7:17pm
Quoting profxtrader
I don't expect anything to be honest. I'll just trade the event as it plays out. If it breaks up, I'll trade a successful retest. If it bounces, I'll trade the short side after a successful confirmation.
What would you deem a successful confirmation of either break or rebound? Do you watch candles for it? Would that not be too late...?

Thanks
"Millionaires don't use astrology, billionaires do"
  • #2,139
  • Jul 25, 2010 11:22pm Jul 25, 2010 11:22pm
eur/usd . i ntresting next gen has cable following a break out TP 16243 i wouldnt rule this out ...
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  • #2,140
  • Jul 25, 2010 11:27pm Jul 25, 2010 11:27pm
http://i28.tinypic.com/1zqadfa.png
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