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SFM - Trading Room

  • #41
  • Jul 26, 2010 9:22am Jul 26, 2010 9:22am
Nice trades all! Still in my EU which is struggling at yearly support 1.2960. Will see how goes.
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  • #42
  • Jul 26, 2010 9:47am Jul 26, 2010 9:47am
Closed my long EJ trade with +12 Pips after it turned against me. Market is a little crazy today.

Here the trade I'm in:

Short GU:

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Entry after Doji-like candle touched Intraday (80%) and was rejected.
  • #43
  • Jul 26, 2010 10:02am Jul 26, 2010 10:02am
Long GU at Swing high and 1.5447 Breach Level. 15480 tricky.
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  • #44
  • Jul 26, 2010 10:31am Jul 26, 2010 10:31am
I am closing off for today. I closed my long on GU for +28pips, Longs on EU for +36.1pips and +18.5pips. My ealier shorts on EU resulted in +0.6pips and -37.7pips.
So I am closing out with a total of +45.5pips today.

Careful with these ruff market conditions! See you all tomorrow!

Happy Trading!
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  • #45
  • Jul 26, 2010 12:01pm Jul 26, 2010 12:01pm
Hope you caught your US/CAD setup steroidman. Did 50+pips
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  • #46
  • Jul 27, 2010 3:06am Jul 27, 2010 3:06am
Well i went the wrong way with cable today...! Stopped out for -25. Good lesson not to ignore rejection and reversal signals. Price had been trending long, then we saw long wicks around yesterdays high, but i thought it had enough legs to get at least 20-25 pips scalping - sadly not...! Got in after 50% breach but she reversed, and has now come within a couple of pips of bear target #2.

Question now is, do i go long?! :-)
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  • #47
  • Jul 27, 2010 3:29am Jul 27, 2010 3:29am
Well i did go long with small SL and it came back down.. sigh... -40 for today, arrrghhhhh!!!!!

Simone or anyone, can you see if there are signals i missed that should have kept me out (other than those mentioned above).
  • #48
  • Jul 27, 2010 4:00am Jul 27, 2010 4:00am
Quoting Jazznos
Well i did go long with small SL and it came back down.. sigh... -40 for today, arrrghhhhh!!!!!

Simone or anyone, can you see if there are signals i missed that should have kept me out (other than those mentioned above).



Those 6 consecutive long wicks up to 8.00GMT were good warnings
  • #49
  • Jul 27, 2010 5:00am Jul 27, 2010 5:00am
Hi,I have grasped your method and is doing rather well on trendy days. Thank you for sharing. Today, prices is largely ranging and choppy so far with long wicks. How does one trade correctly using the SFM on such days compared to trendy days.
  • #50
  • Jul 27, 2010 5:02am Jul 27, 2010 5:02am
Good Morning Everyone!

Jazznos, Bydyke answered your question there. Candlesticks give good information on price action.
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  • #51
  • Jul 27, 2010 5:14am Jul 27, 2010 5:14am
Well the GU certainly isnt messing around today. Closed above yesterday's 50% level for a quick buy. We should however get some pullback before it heads higher from 1.5530. Buying started off the same strong support / swing high area at 1.5540, so we could be looking to blow past today's Bull Targets. 1.5550-60 however is the yearly long level which could create much resistance so this is an area to be watched.
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  • #52
  • Jul 27, 2010 5:18am Jul 27, 2010 5:18am
Quoting jbosco
Hi,I have grasped your method and is doing rather well on trendy days. Thank you for sharing. Today, prices is largely ranging and choppy so far with long wicks. How does one trade correctly using the SFM on such days compared to trendy days.
Hi Jbosco, glad to hear you have grasped it. Some days are definite STAY OUT days as it becomes more difficult to tell which levels will hold or fail. So, when I dont feel comfy, I take quick profits or stay out.
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  • #53
  • Jul 27, 2010 5:20am Jul 27, 2010 5:20am
Watching 1.5484 breach and 1.5495, intraday long level, for possible long entry setups.
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  • #54
  • Jul 27, 2010 5:56am Jul 27, 2010 5:56am
EU seems to be setting up nicely around 1.2990-2 breach level
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  • #55
  • Jul 27, 2010 6:07am Jul 27, 2010 6:07am
... We should however get some pullback before it heads higher from 1.5530. Buying started off the same strong support / swing high area at 1.5540....



Is 5510 the high area you are referring to here because we are yet to hit 5540 from yesterday?
  • #56
  • Jul 27, 2010 6:25am Jul 27, 2010 6:25am
Quoting Bydyke
... We should however get some pullback before it heads higher from 1.5530. Buying started off the same strong support / swing high area at 1.5540....



Is 5510 the high area you are referring to here because we are yet to hit 5540 from yesterday?
Hi Bydyke, I was referring to 1.5530 as an area that once we hit there, as we did, we would get some pullback, before further buying, as we did, still watching breach area as well.
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  • #57
  • Jul 27, 2010 7:42am Jul 27, 2010 7:42am
Still long on EU off 1.2992 breach. Holding for 1.2975-90.
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  • #58
  • Jul 27, 2010 7:50am Jul 27, 2010 7:50am
EU is at the intraday resistance and breach level of 1.3027 (fibbed from the high of May 10th). Possible continuation level. Ooops, please note my intraday fibs should have been drawn from high to low, prices are still however the same.
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  • #59
  • Jul 27, 2010 7:57am Jul 27, 2010 7:57am
oooo aggressive drop/pullback. Will see what happens at intraday 50
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  • #60
  • Jul 27, 2010 8:16am Jul 27, 2010 8:16am
Nice retest of 1.2990-92 support(also yesterday's resistance). Lets see how we hold.
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