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Strat's Long Term Stress Free Trading

  • #13,321
  • Aug 1, 2010 3:33am Aug 1, 2010 3:33am
Quoting strat
Surely you SEE something better than this?
Absolutely not, I will stay away then.
  • #13,322
  • Aug 1, 2010 3:51am Aug 1, 2010 3:51am
Hi Strat / BlackEagle,
Why can't we connect the lows like on the chart below?
Thanks
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  • #13,323
  • Aug 1, 2010 3:59am Aug 1, 2010 3:59am
Quoting simpleman
Hi Strat / BlackEagle,
Why can't we connect the lows like on the chart below?
Thanks
I don't know - ask whoever told you that you can't - this is already on some work I did this week-end!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,324
  • Aug 1, 2010 4:14am Aug 1, 2010 4:14am
Quoting strat
I don't know - ask whoever told you that you can't - this is already on some work I did this week-end!
Atleast we agree somewhere
  • #13,325
  • Aug 1, 2010 4:45am Aug 1, 2010 4:45am
Hello all,

I have been watching closely usd/jpy for few weeks now. After price broke the DSRI line starting from 2007/07 this August and has retraced back to it, now it is acting as a support and we're very close to new lows. The question is will it continue down or will this down trend stop and reverse?

I realize imediate trend is currently down, but we have now neared I believe an important point. We're at DSRI which acts as a support and at support line of 86.30 . Going long here with strong bullish PA I believe would give a very high R-R potential worth the risk.
Or for safer entry wait for PA above or at SR of 88.00. This would be above a strong resistance at 88.00 which price is currently below and would need to break in order to go further up. After 88.00 I don't have any major resistances until 93.00 .

Action:

Wait for strong PA for longs, at current Support and DSRI which is around 86.00.
If we do not get a chance to get on board here we might as well look for opportunities at or above 88.00 which would also be a safer entry.

Also we have to keep in mind that we're currently in a strong imediate downtrend which could easily continue down passed the support we're banging on currently.

Regards,

kaunasny
Attached Image (click to enlarge)
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  • #13,326
  • Aug 1, 2010 4:58am Aug 1, 2010 4:58am
Quoting kaunasny
Hello all,...
Action:

Wait for strong PA for longs, at current Support and DSRI which is around 86.00.
If we do not get a chance to get on board here we might as well look for opportunities at or above 88.00 which would also be a safer entry.

Since the trend is DOWN, why not wait for PASR to trade with the trend (instead of picking bottoms).

Oh yes - WHITE CHART BACKGROUNDS PLEASE!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,327
  • Aug 1, 2010 5:01am Aug 1, 2010 5:01am
Quoting kaunasny
Hello all,

I have been watching closely usd/jpy for few weeks now. After price broke the DSRI line starting from 2007/07 this August and has retraced back to it, now it is acting as a support and we're very close to new lows. The question is will it continue down or will this down trend stop and reverse?
See my DSRI just waiting for the break to new low. And yes no bottom picking.
Attached Image (click to enlarge)
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  • #13,328
  • Aug 1, 2010 5:06am Aug 1, 2010 5:06am
Quoting simpleman
See my DSRI just waiting for the break to new low. And yes no bottom picking.
Good lad. DSRI on Line Close - are you watching Lou!

A very good example of DSRI providing support, resistance and re-test.

Keep posting the progress on this for all to see!
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,329
  • Aug 1, 2010 5:13am Aug 1, 2010 5:13am
Quoting strat
Good lad. DSRI on Line Close - are you watching Lou!

A very good example of DSRI providing support, resistance and re-test.

Keep posting the progress on this for all to see!
Thanks Strat for encouragement, I watch everyone very closely specially Lou on line charts and yes I will post the progress on this one.
  • #13,330
  • Aug 1, 2010 5:54am Aug 1, 2010 5:54am
Another pair I've been following which you might like to put on your watch list guys. Classic Strat I think?, but I like it for other reasons as well.

Big boss/boss/worker all agree.

SS on the boss.

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  • #13,331
  • Aug 1, 2010 6:16am Aug 1, 2010 6:16am
Was expecting to get blassed more harshly for this. Strat must be in a good mood today!

My reasons looking for bottom here ( bottom picking ) :

1. I still believe my boss DSRI is valid, turning to big boss and drawing DSRI from there puts it closer to my DSRI line (compared to simpleman's)

2. Drawing another DSRI on big boss chart starting from 1995 and connecting to 2000 puts DSRI currently right at where I have my support on boss around 86.00 .

3. Worker swings are slowing down, showing possibly a reversal.

4. We're at important historic low points, close to all time low points starting from as far as my charts go of 1993.

For these reasons I would not look for any trades to short as I see strong long potential and any short trades would be way too risky.

To all other readers. These are just my thoughts and as we all can see they differ from more respected strats and simplemans. Just a different view to show. Will be interesting to see how this unfolds.

BTW - sorry for the backround
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  • #13,332
  • Aug 1, 2010 6:49am Aug 1, 2010 6:49am
Quoting kaunasny
Was expecting to get blassed more harshly for this....
1. I still believe my boss DSRI is valid, turning to big boss and drawing DSRI from there puts it closer to my DSRI line (compared to simpleman's)

Yes, it is valid on your data.

2. Drawing another DSRI on big boss chart starting from 1995 and connecting to 2000 puts DSRI currently right at where I have my support on boss around 86.00 .

Yes, on your data.

3. Worker swings are slowing down, showing possibly a reversal.

Might they also be slowing down showing that sellers are taking a rest?

4. We're at important historic low points, close to all time low points starting from as far as my charts go of 1993.

Be very careful with this. All points were "historical" at one time or another until a new point came and made it "historical".

For these reasons I would not look for any trades to short as I see strong long potential and any short trades would be way too risky.

I'm not saying to trade short - only to keep an open and flexible mind so that you can go whichever way the big boys eventually decide to go.
Wait for the footprints - then follow in the footprints
15 YEARS OF PASR ON FOREX FACTORY!
  • #13,333
  • Aug 1, 2010 7:13am Aug 1, 2010 7:13am
Quoting stewrigh
Another pair I've been following which you might like to put on your watch list guys. Classic Strat I think?, but I like it for other reasons as well.

Big boss/boss/worker all agree.

SS on the boss.
I found more reasons NOT to trade it than trade it.

Me and EURCHF don't really get on all that well!
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15 YEARS OF PASR ON FOREX FACTORY!
  • #13,334
  • Aug 1, 2010 8:45am Aug 1, 2010 8:45am
Quoting strat
I found more reasons NOT to trade it than trade it.

Me and EURCHF don't really get on all that well!

But ''wouldn't it be nice.............''

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  • #13,335
  • Aug 1, 2010 2:36pm Aug 1, 2010 2:36pm
Keep a knockin' but you can't come in
Keep a knockin' but you can't come in
Come back tomorrow night and try it again


Quoting simpleman
Thanks Strat for encouragement, I watch everyone very closely specially Lou on line charts and yes I will post the progress on this one.
Thanks simpleman. My emphasis is shifting to a longer time frame for awhile. Monday am back to work.. although not full time hours until September. While I was on vacation was in a running daily trading battle with the Little Men. (Maybe I should have taken up ping pong.. ha ha)

Planning to spend the next month trading from the Weekly on several charts. Still like the line charts though.

Any words of experience from others regarding Weekly is appreciated.
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  • #13,336
  • Aug 1, 2010 2:49pm Aug 1, 2010 2:49pm
Quoting Alexandra
Sigh.

I'm going back to the beach.
Hi Alexandrahttp://cdn.forexfactory.com/images/icons/icon7.gif

Great to hear from you. Always good to hear your uptake on the news.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,337
  • Aug 1, 2010 2:53pm Aug 1, 2010 2:53pm
Quoting TradeBoss
If you are a forex trader and you aren't paying attention to the news then you are ASKING to be bit in the rear.

Let me give you a good example of why that is.

It was Greece that caused the massive weakening in the Euro. That was made worse when Portugal, Spain, and Italy looked like they might be having sovereign debt problems as well.

The eurozone then stepped in, basically bailed out Greece, and setup a facility to prevent further problems from the other nations. This was made better when Greece provided a fairly credible austerity plan...
Hi TradeBosshttp://cdn.forexfactory.com/images/icons/icon7.gif

Thank for your comments. I appreciate it.

I do take note of the news, though not to the same extent as other traders.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
  • #13,338
  • Aug 1, 2010 3:00pm Aug 1, 2010 3:00pm
Quoting kaunasny
Hi,

Does this count as broken? I needed it to have a way stronger close above DSIR for me to think that it is broken. Now I'll have to wait for another week to figure that out, although it kinda stoped at DSIR , but this weekly train will doubtly stop going up.

More waiting for me.
Hi Kaunasnyhttp://cdn.forexfactory.com/images/icons/icon7.gif

I am waiting to see a better resolution of this "break". You can see that on my chart the candle is above the DSIR line.

Happy tradinghttp://cdn.forexfactory.com/images/icons/icon14.gif
Jideck
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  • #13,339
  • Aug 1, 2010 3:50pm Aug 1, 2010 3:50pm
I have boss candle close a little above DSRI line too. But this is forex with high volatility on high volume. I know some traders choose to believe that in this market some things are exact. Thought I chose to believe that there can be some leeway and that nothing needs to be exact ( like my DSRI line on USDJPY for ex. ).
So for a SR, DSRI or swing high/lows to be broken, I consider only when there is a strong close after penetration. But then again, that's just me.

Good trading,

kaunasny
  • #13,340
  • Aug 1, 2010 3:52pm Aug 1, 2010 3:52pm
Quoting Jideck
Hi TradeBosshttp://cdn.forexfactory.com/images/icons/icon7.gif

Thank for your comments. I appreciate it.
You're welcome

Quoting Jideck
I do take note of the news, though not to the same extent as other traders.
Forex is moved by the news (aka "fundamentals"). Knowing and understanding how various news events will affect the market can make you a MUCH better and more profitable trader.

IMHO anyway
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