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Daily Chart Trading Discussion

  • #101
  • Aug 19, 2010 3:13am Aug 19, 2010 3:13am
Hi
U-J looks promising as approaching upper band at H4 for a quick scalp (pending for the candle closed) ?!?
Cheers
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  • #102
  • Aug 19, 2010 4:34pm Aug 19, 2010 4:34pm
was that a short trade tpat? come off well if it was

gold is now looking like it is getting to expensive to expect bulls to continue pilling in, bit of a whipsaw today on the 4hr, could see another test of 1218, and a possible consolidation between 1218 and 1236, to give the buyers a rest. still long at 1207, sl at 1215, will likely have to sit through some retraces in the next while. cant expect this to continue on its current track. may get stopped....
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  • #103
  • Aug 19, 2010 4:40pm Aug 19, 2010 4:40pm
hi people

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  • #104
  • Edited 5:04pm Aug 19, 2010 4:52pm | Edited 5:04pm
Wonderful thing "gut instinct"
Perhaps I should follow it more often.
Beats trying to figure out a chart.
Started the week looking for upward trend continuation.
Now short.
Go figure.

Hey John,

Be interested to know why you trade gold amongst the fx. Dollar play? Is it any easier?

Paul
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Never underestimate an idiot.
  • #105
  • Aug 19, 2010 5:05pm Aug 19, 2010 5:05pm
yeah the ausie reversed badly, i hate when this happens.

No reason for trading gold, except the fact that i can, and it trends pretty good. found it more difficult to trade intraday though, prone to whipsaws it seems...
  • #106
  • Aug 19, 2010 5:07pm Aug 19, 2010 5:07pm
at least you have a chance of making money on the downside, things looking pretty bearish tonight.
  • #107
  • Aug 19, 2010 5:07pm Aug 19, 2010 5:07pm
tradpat

Hope you still holding EJ short.

Paul
Never underestimate an idiot.
  • #108
  • Aug 20, 2010 7:25am Aug 20, 2010 7:25am
Quoting uncle gromit
tradpat

Hope you still holding EJ short.

Paul
Hi Paul

I think you meant my post #101 for U-J?
I wish I had because I was driving home around 6 p.m. locally

I short EJ yesterday because IB shown up and followed the down trend.
IB also appeared in A-U & A-J yesterday.
I think you also short A-U, as shown in your picture.

Hopefully today it will still a live and last until Monday ?
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  • #109
  • Aug 20, 2010 7:42am Aug 20, 2010 7:42am
Quoting highlander2
yeah the ausie reversed badly, i hate when this happens.

No reason for trading gold, except the fact that i can, and it trends pretty good. found it more difficult to trade intraday though, prone to whipsaws it seems...
Hi highlander

I also dislike "U" turn on A-U
Well, looking at PA, I see the "U" probably a trend change for a medium term (down trend) after the up trend peak 2 weeks ago

Are you on to short A-J today?
I also short it.
Both A-J and A-U are in small lots, for the reason to build up my confident... hope it works!

I like your Gold! As you said... it seems to "slow down a lot?" today

Cheers
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  • #110
  • Aug 22, 2010 3:01am Aug 22, 2010 3:01am
Hi

Hopefully it is a good break and smooth drive up to RL1, then RL2, then RL3 ?


The bottom 2 days ago showed a strong bullish morning star liked
http://www.candlesticker.com/Cs59.asp

Let us see how it goes.

Cheers
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  • #111
  • Edited Aug 24, 2010 9:48am Aug 23, 2010 11:11am | Edited Aug 24, 2010 9:48am
Hi Paul
How is your A-U?
It is "heart pounding" to see the pair yo yo today, isn't it?

Hi John
I guess you already exited the Gold?


My E-J's TP was hit as planned, with 1:3.
Now watching closely the A-U and A-J trades

Same goes to U-CAD. Any comment for this pair?
  • #112
  • Aug 23, 2010 11:23am Aug 23, 2010 11:23am
still long on gold from 1207, SL at 1215. only half the position still on though. could very well get stopped, wont be too bothered.

Usd/cad looking bullish, although this pair is not called the loonie for nothing. It broke the downtrend line then retested it on a throwback move.

Im not in any trades other than gold, except for some scalps on the eur/usd.
  • #113
  • Aug 23, 2010 11:55am Aug 23, 2010 11:55am
Quoting tradpat
Hi Paul
How is your A-U?
It is "heart pounding" to see the pair yo yo today, isn't it?
Still short from 0.8982, stop halved from original position.
Not really suprised with the rebound 2day. Aussie election result over weekend.
Nothing like a bit of political unheaval. Markets can price in good and bad news but not uncertainty.
Need to see 0.8855 cracked soon me thinks for this trade to amount to anything.
3 day base at this level now. Must be enough stops underneath now.
Price always moves in the direction that causes the most amount of pain to the most amount of people.
Never underestimate an idiot.
  • #114
  • Edited 9:47am Aug 24, 2010 8:39am | Edited 9:47am
Hi John & Paul

After closing watch, my A-J's TP was hit today.
J is very volatile to "down south."

Gromit
A-U is "alive" so far after yesterday's yo yo!
Hope it works out well

Cheers
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  • #115
  • Edited 9:47am Aug 24, 2010 8:50am | Edited 9:47am
Hello

U-CAD is kind of unexpected volatile today to up north.
I hope to see my U-CAD's TP hit... it was so closed!

I may close up manually tomorrow?
Any advise, Paul & John?

p.s. You know normally we hate to see profit goes to drain. On the other hand, I thought to follow my trading plan

Cheers
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  • #116
  • Aug 24, 2010 9:14am Aug 24, 2010 9:14am
Quoting tradpat
Hello

U-CAD is kind of unexpected volatile today to up north.
I hope to see my U-CAD's SL hit... it was so closed!

I may close up manually tomorrow?
Any advise, Paul & John?

p.s. You know normally we hate to see profit goes to drain. On the other hand, I thought to follow my trading plan

Cheers
If that were my trade I would consider 2 options.

1) If I'm up more than 2 to 1 R/R I could close out all together. No shame in that. Healthy account builder.
2) Close half and bring stop to break even and monitor trade on say a 4h tf. See how far it wants to go.

Of course its not my trade. Only you can decide.
Never underestimate an idiot.
  • #117
  • Aug 24, 2010 11:01am Aug 24, 2010 11:01am
massive whipsaw on gold took my SL at 1215, still for a profit.

Currently short eur/usd at 1.2644, down -35 pips at the moment.
  • #118
  • Aug 24, 2010 5:09pm Aug 24, 2010 5:09pm
Quoting uncle gromit
If that were my trade I would consider 2 options.

1) If I'm up more than 2 to 1 R/R I could close out all together. No shame in that. Healthy account builder.
2) Close half and bring stop to break even and monitor trade on say a 4h tf. See how far it wants to go.

Of course its not my trade. Only you can decide.
It has always been nice to read your comments.
I particularly like no. 1!
Thanks, Paul.

John, let's on E-U.
I understood yesterday's Existing Home Sales in red was making this pair "heart pounding?"
The last H4 candle was push down from 20 MA (middle band). Hope this implies good sign?

Cheers
  • #119
  • Aug 26, 2010 1:52am Aug 26, 2010 1:52am
Hi Paul

The trend went north again yesterday and hit my TP for U-CAD, collected good reward 1:2... man...

Once the US Core Durable Goods Orders came out with red, I closed A-U @ 8785 with good profit

Thanks for your rule 1... HAB = Healthy Account Builder

Hope it went the same to you?

John, how are you getting on?

Got to go. Cheers
  • #120
  • Aug 27, 2010 4:34am Aug 27, 2010 4:34am
[quote=tradpat;3977863]Hi Paul

The trend went north again yesterday and hit my TP for U-CAD, collected good reward 1:2... man...

Once the US Core Durable Goods Orders came out with red, I closed A-U @ 8785 with good profit

Thanks for your rule 1... HAB = Healthy Account Builder

Hope it went the same to you?

Out of audusd for +30. All square now. Will reassess at close of today looking for oppotunities next week.
Never underestimate an idiot.
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