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Nearly Naked (Simple Trades)

  • #9,021
  • Oct 14, 2010 1:06am Oct 14, 2010 1:06am
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting Tuner
Unsure with the JPY at the moment....
But I gave that one a try: CAD JPY.
UTL of the downmove and an area that acted as support/resistance before.
Stop is rather tight just above the UTL.
Nice first bounce from here..

Maybe back down to yesterdays lows from here? but considering to get out of the trade if WeeklyPivot provides support.

we will see
Out at Weekly pivot for some 30 pips now.
Didn't like PA here.
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"Blue Horseshoe loves Anacott Steel!"
  • #9,022
  • Oct 14, 2010 3:32am Oct 14, 2010 3:32am
Will not be around to see the candle close. G O O D L U C K A L L which ever side of the curve you are on.
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May the pip flow with you
  • #9,023
  • Oct 14, 2010 5:34am Oct 14, 2010 5:34am
A/U. Oh wow. Trading doesn't get much easier than this. What a great day.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,024
  • Oct 14, 2010 11:21am Oct 14, 2010 11:21am
Hi all
I'm waiting for the EUR/USD on 1.4400 because of :
- Fibo 61.8 for the long swing
- Fibo 78.6 for the short swing
- Down trendline
- Fibo expansion 127.2
So what you think guys ?
Peace
Attached Image(s) (click to enlarge)
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  • #9,025
  • Oct 14, 2010 1:17pm Oct 14, 2010 1:17pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting seifo005
Hi all
I'm waiting for the EUR/USD on 1.4400 because of :
- Fibo 61.8 for the long swing
- Fibo 78.6 for the short swing
- Down trendline
- Fibo expansion 127.2
So what you think guys ?
Peace
Hi seifo,

Very nice observation on the longer term swings and their fibs
Loos like a nice confluence on that 1.44 level.
In addition to the reasons you already mentioned this area did also act as S/R before.
Might still take us some more time to get up there and I somehow expect a bit of a (smaller) correction before that... But often patience is the key.

But IMO a bigger SL could be necessary.
What is your target for that trade? back to 1.40? or looking for more?
Attached Image (click to enlarge)
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"Blue Horseshoe loves Anacott Steel!"
  • #9,026
  • Oct 14, 2010 1:56pm Oct 14, 2010 1:56pm
Quoting Tuner
Hi seifo,

Very nice observation on the longer term swings and their fibs
Loos like a nice confluence on that 1.44 level.
In addition to the reasons you already mentioned this area did also act as S/R before.
Might still take us some more time to get up there and I somehow expect a bit of a (smaller) correction before that... But often patience is the key.

But IMO a bigger SL could be necessary.
What is your target for that trade? back to 1.40? or looking for more?
Thank you Tuner
My final target will be the upper daily trend line or fibo 38.2 if it will be above that trend line; do you agree with that ?
Regards
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  • #9,027
  • Oct 14, 2010 2:29pm Oct 14, 2010 2:29pm
Quoting seifo005
Thank you Tuner
My final target will be the upper daily trend line or fibo 38.2 if it will be above that trend line; do you agree with that ?
Regards
Hi Seifo. That looks like a good area. I was reading today that a lot of big shots are calling 1.45 area the turn around point...that is supposed to coincide with a turn around in the DXY as well. I guess we shall see.

What a day! Back and forth back and forth. I think I played every twist and turn on A/U today. Time for a nap. See you guys later.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,028
  • Oct 14, 2010 2:34pm Oct 14, 2010 2:34pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting seifo005
Thank you Tuner
My final target will be the upper daily trend line or fibo 38.2 if it will be above that trend line; do you agree with that ?
Regards
Sounds good as a final target. and would be a nice RRR for sure.

Do you scale out on your positions?
I tend to cash in a part (half) of my positions with a first profit and leave the rest running saved at BE+x . Makes it much easier IMO to be patient and wait for a final target then...
"Blue Horseshoe loves Anacott Steel!"
  • #9,029
  • Oct 14, 2010 2:41pm Oct 14, 2010 2:41pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting MarcVUM
Hi Seifo. That looks like a good area. I was reading today that a lot of big shots are calling 1.45 area the turn around point...that is supposed to coincide with a turn around in the DXY as well. I guess we shall see.

What a day! Back and forth back and forth. I think I played every twist and turn on A/U today. Time for a nap. See you guys later.
Hi Marc,

Ya.. Everyone already talking of the 1.45 today..
Maybe the 1.44 with a lil "overshooting" will be almost 1.45 then
Think I won't trade that short with a pending order but wait to see some sort of confirmation trhough a reversal candle on the H4 or maybe even the Daily...

Should be interesting and time will tell...
I remember everyone talking of parity not long ago
"Blue Horseshoe loves Anacott Steel!"
  • #9,030
  • Oct 14, 2010 2:42pm Oct 14, 2010 2:42pm
Quoting MarcVUM
Hi Seifo. That looks like a good area. I was reading today that a lot of big shots are calling 1.45 area the turn around point...that is supposed to coincide with a turn around in the DXY as well. I guess we shall see.

What a day! Back and forth back and forth. I think I played every twist and turn on A/U today. Time for a nap. See you guys later.
Good to see that the long wait brought about some action. Wished I had to opportunity to swing trades like that.

Is that the red ribbon you've been waiting for? Reversal?
May the pip flow with you
  • #9,031
  • Oct 14, 2010 2:45pm Oct 14, 2010 2:45pm
Quoting Flow
Good to see that the long wait brought about some action. Wished I had to opportunity to swing trades like that.

Is that the red ribbon you've been waiting for? Reversal?
No, this is just the M15 chart. It's still green on the H4!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,032
  • Oct 14, 2010 3:51pm Oct 14, 2010 3:51pm
Quoting Tuner
Sounds good as a final target. and would be a nice RRR for sure.

Do you scale out on your positions?
I tend to cash in a part (half) of my positions with a first profit and leave the rest running saved at BE+x . Makes it much easier IMO to be patient and wait for a final target then...
I cash half of my position as soon as I get the double of the stop loss and let the second half run to the final target moving stop loss behind resistances .
  • #9,033
  • Oct 14, 2010 5:07pm Oct 14, 2010 5:07pm
My thoughts on US indicies.

First chart is monthly, from these levels there is a high probability test of 1098 before the trend continues higher and breaks out of 1200 by the end of the year.

Second chart is 4hr and shows that before the down move can happen price needs to move up into the green highs on Friday, 1183. If it touches this level and closes the week below then I will take shorts targeting 1098.
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  • #9,034
  • Oct 15, 2010 9:09am Oct 15, 2010 9:09am
Quoting amyc
My thoughts on US indicies.

First chart is monthly, from these levels there is a high probability test of 1098 before the trend continues higher and breaks out of 1200 by the end of the year.

Second chart is 4hr and shows that before the down move can happen price needs to move up into the green highs on Friday, 1183. If it touches this level and closes the week below then I will take shorts targeting 1098.
My chart shows a touch of 1181.2 today...at the moment it looks as your prediction is going to come true. Awesome!
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,035
  • Oct 15, 2010 12:02pm Oct 15, 2010 12:02pm
A/U. Going into the weekend. Amy, it looks like you are spot on with the upcoming retracement to the possible 1098 on the S&P. I would suspect the A/U will follow along a bit since the DXY should retrace upwards. QEII is having it's affects!
Here's my charts before signing off for the weekend. A lot of good S/R bounces today although it was too volatile for me to trade...I need the ATR to come down a bit for my stomach! I'll be watching the Daily close and Weekly candle at the end of the day. See you next week.
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When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,036
  • Oct 15, 2010 1:17pm Oct 15, 2010 1:17pm
http://4.bp.blogspot.com/_N2EyyrA_LP...enkeyboard.jpg
  • #9,037
  • Oct 15, 2010 2:47pm Oct 15, 2010 2:47pm
http://cdn.content.sweetim.com/sim/c...s/0002029D.gif
  • #9,038
  • Oct 15, 2010 2:52pm Oct 15, 2010 2:52pm
  •  Tuner
  • | Joined Nov 2009 | Status: Love it when a plan comes together | 709 Posts
Quoting seifo005
http://cdn.content.sweetim.com/sim/c...s/0002029D.gif

"Blue Horseshoe loves Anacott Steel!"
  • #9,039
  • Oct 17, 2010 6:55pm Oct 17, 2010 6:55pm
My first trade at 50:1 leverage...Yeah! What a drag!
http://smileys.smileycentral.com/cat/4/4_14_6.gif
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,040
  • Oct 18, 2010 6:09am Oct 18, 2010 6:09am
Hi all; I wish you a profitable week.
The EUR/CAD showing us a nice setup, if it break up I'll jump with the bulls else if it break down I'll be a bear
Cheers
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