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Nearly Naked (Simple Trades)

  • #7,161
  • Aug 6, 2010 12:06pm Aug 6, 2010 12:06pm
Quoting MarcVUM
It's going to fall Petar! Grab your parachute while you have time!
Oh no my friend...

Who laughs last laughs the sweetest





This is for you >
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"Buy on fear, sell on greed !!!
  • #7,162
  • Aug 6, 2010 3:01pm Aug 6, 2010 3:01pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting MarcVUM
It's going to fall Petar! Grab your parachute while you have time!
well.. that LTL seems so very very strong.
bouncing up from there again and again. Took some of those bounces.

If we break to the downside, we might break hard.
But we are already getting close to apex .
For a break to the downside a nice scenario would be break and retest of that LTL. This could also form a double-top then.
But market does not always act textbook like.. so we have to wait and see

So might be interesting.
Either join Petars pane or Marcs submarine
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"Blue Horseshoe loves Anacott Steel!"
  • #7,163
  • Aug 6, 2010 3:35pm Aug 6, 2010 3:35pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Petar_Serbia
Yea worth to try,i have buy from 85.40 with SL 84.30 below 161.8 Fib becouse posible test down..But in this trade i risk just 1 % TP opened...

Cheers

Petar

Ya... I gave that one a try as well and went for a small long from 85.25
LTL did hold in the end.
Confluence with Monthly S1 here and some 100 Fib-Ext.

So lets see if it really turns up from here. Could be a longer term position.
(If we don't continue the "Dollar-bashing" of the last few weeks)
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"Blue Horseshoe loves Anacott Steel!"
  • #7,164
  • Aug 6, 2010 4:19pm Aug 6, 2010 4:19pm
Quoting Tuner
well.. that LTL seems so very very strong.
bouncing up from there again and again. Took some of those bounces.

If we break to the downside, we might break hard.
But we are already getting close to apex .
For a break to the downside a nice scenario would be break and retest of that LTL. This could also form a double-top then.
But market does not always act textbook like.. so we have to wait and see

So might be interesting.
Either join Petars pane or Marcs submarine
Heh

ON AUDUSD i am now +85 pips still very good but What I've learned in my career and that is a key from my succes.I must say first is trade your chart and dont listen "pro analist" from many sites that is very bad.Second thing is you MUST have always plan for future trades.For example i have plan for every pair i trade for next week now and just ride on that plan,of course i have on both ways plan if pair go Up or Down i always have plan (very important),Third thing is knowledge and practice.If you dont have big knowledge in this buisnesse and many many hours on chart you will be in 95 % trades wich loose balance.

To summarize

1- Trade your chart
2- Plan trade for both sides(UP-Down) on pair
3-Knowledge and Practice (key factors)

How do I become a successful traders

Green pips


Petar
"Buy on fear, sell on greed !!!
  • #7,165
  • Aug 6, 2010 4:20pm Aug 6, 2010 4:20pm
Quoting Tuner
well.. that LTL seems so very very strong.
bouncing up from there again and again. Took some of those bounces.
I should have taken my own advice from last Saturday (posted here #6964)! and held onto my longs!!!

This is what I am seeing now. Maybe we had a fake breakout today. Monday's candle will have to confirm.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #7,166
  • Aug 6, 2010 4:33pm Aug 6, 2010 4:33pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Petar_Serbia
Heh

ON AUDUSD i am now +85 pips still very good but What I've learned in my career and that is a key from my succes.I must say first is trade your chart and dont listen "pro analist" from many sites that is very bad.Second thing is you MUST have always plan for future trades.For example i have plan for every pair i trade for next week now and just ride on that plan,of course i have on both ways plan if pair go Up or Down i always have plan (very important),Third thing is knowledge and practice.If you dont have big knowledge in this buisnesse...
True word Petar...

Stick to your plan (and before that have a plan) is the best thing to do.
You got your SL and TP defined. know your risk and possible reward and let the market take you to the direction it decides on..
For the AUD especially it is not a bad thing to hold it for some time before it reaches your TP. Sweet rollover profits day after day

So lets see what the next week will bring us!
Enjoy your weekend!
"Blue Horseshoe loves Anacott Steel!"
  • #7,167
  • Aug 6, 2010 4:41pm Aug 6, 2010 4:41pm
Quoting Tuner
True word Petar...

Stick to your plan (and before that have a plan) is the best thing to do.
You got your SL and TP defined. know your risk and possible reward and let the market take you to the direction it decides on..
For the AUD especially it is not a bad thing to hold it for some time before it reaches your TP. Sweet rollover profits day after day

So lets see what the next week will bring us!
Enjoy your weekend!
Yea also i just read James thread and i see many guys make mistake about Fibs they draw totaly wrong,for exmaple this chart >

That is i talk people must know what they doing...
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"Buy on fear, sell on greed !!!
  • #7,168
  • Aug 6, 2010 4:41pm Aug 6, 2010 4:41pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting MarcVUM
I should have taken my own advice from last Saturday (posted here #6964)! and held onto my longs!!!

This is what I am seeing now. Maybe we had a fake breakout today. Monday's candle will have to confirm.
yaa.. glad I did at least hold a small part of my longs.. Not all the way up. but a nice distance up there before I decided to jump out of the plane

I will wait now till things look clearer for me.

http://smileys.smileycentral.com/cat/3/3_4_29.gif

See you on Sunday/Monday!
"Blue Horseshoe loves Anacott Steel!"
  • #7,169
  • Aug 6, 2010 5:11pm Aug 6, 2010 5:11pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Tuner
.
...
Have also been in a trade there but did cash it in before the weekend.
Might be ready to turn south now.
But I have a LTL on my chart, that did still seem to hold last week.
As it is also a level of previous S/R and again the 61.8 fib I decided to cash in my trade here for now.
I'd like to see a break below that line and maybe a retest to join you again on your train south

So lets see if I can get another chance ...
Wish you a good week and many pips !

Tuner
Well...
Didn't watch my UCAD chart anymore since I posted that on Sunday.
After the clear break of the LTL we now had the retest that I was looking for ... Was a nice bounce from there already.
Considering to go for that trade on Sunday open.
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"Blue Horseshoe loves Anacott Steel!"
  • #7,170
  • Aug 6, 2010 5:16pm Aug 6, 2010 5:16pm
Hey Everyone,
Good Posts! Sorry I haven't been around this week and most of last. I will try to get back into the swing of things next week and get back into posting. Hope you all have a good weekend
  • #7,171
  • Aug 6, 2010 5:21pm Aug 6, 2010 5:21pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Saxon
Hey Everyone,
Good Posts! Sorry I haven't been around this week and most of last. I will try to get back into the swing of things next week and get back into posting. Hope you all have a good weekend

Saxon! You are still alive
Hope everything is allright! (you mentioned something was going.. last week)

Enjoy your weekend.. lookin forward to having you with us again next week!
"Blue Horseshoe loves Anacott Steel!"
  • #7,172
  • Aug 6, 2010 5:38pm Aug 6, 2010 5:38pm
I'm long on EUcad & Ucad with some minuscule stop losses. Lets just say that I've passed the quota for the year percentage wise today.
A person is only limited by the thoughts he chooses.Þeir fá byr sem bíð
  • #7,173
  • Aug 7, 2010 1:09pm Aug 7, 2010 1:09pm
E/G. Here's a Nearly Naked setup for you... Three inside bars and a breakout on Friday!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #7,174
  • Edited 1:44pm Aug 7, 2010 1:26pm | Edited 1:44pm
Sorry about the crappy chart, I'm on a computer right now that doesn't have access to my trading station. I think we may have made a swing high 3rd wave.....I'm still on the sidelines on this pair with fed statement next wk anything can happen with the combination of low volume....If and when we near 87.50 I'll be looking to buy for a target of 94. With the AUD data coming out tomorrow that is not expected to be good, this could definitely push the pair lower. As you can see this level(8750) provides strong support and resistance....TL + 50fib can prove to be a very strong spot for trend continuation.....
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  • #7,175
  • Aug 7, 2010 2:03pm Aug 7, 2010 2:03pm
Trying to learn candle formations. Does anyone know wha this one is called on the daily USD/CAD. I find it significant since its around the "00"
Attached Image
"Pippin aint easy"
  • #7,176
  • Aug 7, 2010 2:12pm Aug 7, 2010 2:12pm
Quoting Buitragojl
Trying to learn candle formations. Does anyone know wha this one is called on the daily USD/CAD. I find it significant since its around the "00"

its a bullish hammer followed by a long day......bullish formations

im looking to add closer to 1.02...... http://www.forexfactory.com/showpost...&postcount=514
  • #7,177
  • Aug 7, 2010 2:23pm Aug 7, 2010 2:23pm
Quoting mfoste1
its a bullish hammer followed by a long day......bullish formations

im looking to add closer to 1.02...... http://www.forexfactory.com/showpost...&postcount=514
mfosteee ?


Where are you ?

Go to airplane and we will go to party tonight
"Buy on fear, sell on greed !!!
  • #7,178
  • Aug 7, 2010 2:25pm Aug 7, 2010 2:25pm
That sounds like what i was planning to do i figured it will retest 102. and set my stoploss right under the "hammer handle". Thank you Im trying to spot formations on my own!
"Pippin aint easy"
  • #7,179
  • Aug 7, 2010 3:45pm Aug 7, 2010 3:45pm
I guess I see U/CAD differently.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #7,180
  • Aug 7, 2010 3:58pm Aug 7, 2010 3:58pm
Quoting MarcVUM
I guess I see U/CAD differently.

maybe a shakeout of longs?......it sure completed an inverted cup and handle reversal formation to a T. This pair likes to make that formation for reversals.
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