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  • #61
  • Edited 10:30am Jul 27, 2010 8:17am | Edited 10:30am
Still holding my long. We are trading above yearly support @ 1.2962 and 1.2990 support is still holding. This yearly level and breach, 1.2962, could be looking for our weekly bull targets on the EU, 1.3127-1.3190.
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  • #62
  • Jul 27, 2010 3:06pm Jul 27, 2010 3:06pm
Hi simoneg,

I would like to know your opinion about the current situation of EUR/USD, EUR/JPY and GBP/USD. All of them breached today an important yearly resistance and reached daily bull targets. Now they are stuck in between like a sandwich.

My question is: Are those prices continuing their rally or do they retrace down until the important yearly resistance, which is now support?
  • #63
  • Edited 4:27pm Jul 27, 2010 3:10pm | Edited 4:27pm
Quoting lljazz
Hi simoneg,

I would like to know your opinion about the current situation of EUR/USD, EUR/JPY and GBP/USD. All of them breached today an important yearly resistance and reached daily bull targets. Now they are stuck in between like a sandwich.

My question is: Are those prices continuing their rally or do they retrace down until the important yearly resistance, which is now support?
Hi lljazz, well where the EUR/USD is concernced, my current sentiments are consistent with the chart posted above. We hit the yearly support, bought off it, tested it, it held and we are still buying off that level. Once the EUR is able to break above 1.3008-1.3010, I believe we will be heading toward the 1.3100 area or higher. Still lots of bullish signals here as we are also buying of todays 50% level. The GU closed above strong resistance level at 1.5550, retraced to it and bought again, we are still very bullish on these majors. This level, 1.5550, may be tested a second time but we should be buying away toward the Weekly bull targets on these pairs. The picture is pretty much the same for the EY, we are a few waves away from the week's bull targets. Some retracement may take place now but still bullish. So yes, those resistance levels have definitely become important support. I am buying dips for now.
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  • #64
  • Jul 27, 2010 4:16pm Jul 27, 2010 4:16pm
Hi simoneg,

Thank you very much for the information. Where did you exactly draw the yearly Fib on GU? My Yearly long is 1.5689 and drawn from 1.3500 - 1.7042 (lows and highs of 2009)
  • #65
  • Jul 27, 2010 4:22pm Jul 27, 2010 4:22pm
Quoting lljazz
Hi simoneg,

Thank you very much for the information. Where did you exactly draw the yearly Fib on GU? My Yearly long is 1.5689 and drawn from 1.3500 - 1.7042 (lows and highs of 2009)
Sorry about that lljazz. I had a horizontal line drawn across the February 11th low which has the same color as my long level fib and mistook it for that level. So your figure is correct. Will clear my charts and re-draw my fibs. Thanks much!
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  • #66
  • Jul 27, 2010 7:21pm Jul 27, 2010 7:21pm
Hi Simone,

So basically my issue was I ignored the long wicks showing price rejection and possibly reversal to the long trend - at least this time I noticed it before I entered rather than in hindsight like i have in the past! Ive always been taught to trade with the trend so that was something else that was a factor in the decision to go long. Dammit.. LOL...

You often talk about yearly and monthly highs and lows etc. Do you have the prev year and month Fibbed and permantly on your charts, or do you just mark those points with horizontal lines as reference points?

If you can share any further details about your analysis methods that would be great
  • #67
  • Jul 28, 2010 12:43am Jul 28, 2010 12:43am
Well I closed my EU Longs around 1.3008 resistance area, and am off until Thursday. Positions totalling +113pips

Happy Trading to you!
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  • #68
  • Jul 28, 2010 12:45am Jul 28, 2010 12:45am
Quoting Jazznos
Hi Simone,

So basically my issue was I ignored the long wicks showing price rejection and possibly reversal to the long trend - at least this time I noticed it before I entered rather than in hindsight like i have in the past! Ive always been taught to trade with the trend so that was something else that was a factor in the decision to go long. Dammit.. LOL...

You often talk about yearly and monthly highs and lows etc. Do you have the prev year and month Fibbed and permantly on your charts, or do you just mark those points with horizontal...
Hi Jazznos,
Don't sweat it! Next Trade! Yes I keep the year weekly and monthly on, on the same chart, so I can better see what price is doing. I will give you a ring on Thursday as I wont be trading today. If you are on Skype we can chat otherwise IM.

Have a great day!
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  • #69
  • Jul 28, 2010 2:58am Jul 28, 2010 2:58am
Hi folks,
Simone says she'll be back 2moro but I believe we can all contribute and make this thread truly great. I have read and seen many threads in FF and elsewhere and I remain resolute that this is the best in my opinion.

If you no longer want to make losses in forex, this is the thread to follow. People like Simone are rare to find. She could have kept her system to herself and rake in all the pips without anybody being the wiser but she is so kind-hearted that she wants to depopulate the losers in forex who constitute 90% of traders.

As for today's trade, Cable is already southwards with the TP1 at 5555 already in sight
  • #70
  • Jul 28, 2010 3:39am Jul 28, 2010 3:39am
It's like Cable is showing off her erratic nature. Unless one has SL at 5627, one would have been taken by now.

From the weekly however, 5570 is an area to be wary
  • #71
  • Edited 9:19am Jul 28, 2010 9:04am | Edited 9:19am
Wacthout on GU. We ahcieved a D extension at weekly bull targets. Yearly long level at 1.5688.
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  • #72
  • Jul 28, 2010 9:16am Jul 28, 2010 9:16am
Quoting Bydyke
Hi folks,
Simone says she'll be back 2moro but I believe we can all contribute and make this thread truly great. I have read and seen many threads in FF and elsewhere and I remain resolute that this is the best in my opinion.

If you no longer want to make losses in forex, this is the thread to follow. People like Simone are rare to find. She could have kept her system to herself and rake in all the pips without anybody being the wiser but she is so kind-hearted that she wants to depopulate the losers in forex who constitute 90% of traders.

As...
Thanks Bydyke! would love to see those contributions, flowing, win, lose or draw!
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  • #73
  • Jul 28, 2010 8:30pm Jul 28, 2010 8:30pm
Quoting simoneg
Thanks Bydyke! would love to see those contributions, flowing, win, lose or draw!
Agreed Bydyke. The "lens" these fibs give you for viewing the market is extraordinary - everything has clicked for me since i started using them - its like i can see the Matrix now...! Still a way to go yet to consistent profits, but Im learning a lot. We'll get there :-)
  • #74
  • Jul 29, 2010 3:35am Jul 29, 2010 3:35am
I am in EU with two positions. First entry @ 1.3028 and second @ 1.3060. Targets are below this weeks T1 1.3103. SL is at BE
  • #75
  • Jul 29, 2010 3:47am Jul 29, 2010 3:47am
Quoting simoneg
Ok I closed my last EU long for +13.3,and GU positions for +27.9 and +13.6pips, for another +54.8pips.
Total +138.2pips on the trade setups posted. But these look to be going to there targets into London.

Going to bed. Happy trading!

hi simon

iam a newbie to trading. i would like a simple explanation of the method you are using, as it appears to be doing well. iam unable to understand by just reading alone as i do not know what all these indicators such as fibonacci etc are or how to load them on my igindex platform.

a brief and simple description of how to trade your method covering all the main points would be really appreciated.


regards
  • #76
  • Jul 29, 2010 3:52am Jul 29, 2010 3:52am
Read the whole thread + read the .pdf at least 10x + watch the videos + read bobokus thread and your good to go.

Edit: Chicken out with +43 pips.
  • #77
  • Jul 29, 2010 3:56am Jul 29, 2010 3:56am
Quoting whatfx
hi simon

iam a newbie to trading. i would like a simple explanation of the method you are using, as it appears to be doing well. iam unable to understand by just reading alone as i do not know what all these indicators such as fibonacci etc are or how to load them on my igindex platform.

a brief and simple description of how to trade your method covering all the main points would be really appreciated.


regards
Hi Whatfx,
read this thread, everything clearly explained inside:
http://www.forexfactory.com/showthread.php?t=222988

regards,
Dotmag
  • #78
  • Jul 29, 2010 3:57am Jul 29, 2010 3:57am
Quoting whatfx
hi simon

iam a newbie to trading. i would like a simple explanation of the method you are using, as it appears to be doing well. iam unable to understand by just reading alone as i do not know what all these indicators such as fibonacci etc are or how to load them on my igindex platform.

a brief and simple description of how to trade your method covering all the main points would be really appreciated.


regards

Read up www.babypips.com and you'll just be fine
  • #79
  • Jul 29, 2010 4:09am Jul 29, 2010 4:09am
Thinking to go long on EJ. Price is bullish. It bounced off the trend line and the Range Support @ 113.40. Target would be Week T1.

What do you guys say?
  • #80
  • Jul 29, 2010 5:40am Jul 29, 2010 5:40am
Good Morning Everyone!
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