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Nearly Naked (Simple Trades)

  • #9,561
  • Nov 23, 2010 9:23am Nov 23, 2010 9:23am
You guys did good last night with the short trades!

I went Nearly Naked with this chart.
http://smileys.smileycentral.com/cat/1/1_4_61.gif
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 106 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,562
  • Nov 23, 2010 9:24am Nov 23, 2010 9:24am
Bears are going for it!
Find a job that you love and you dont have to work again in your life.
  • #9,563
  • Nov 23, 2010 9:28am Nov 23, 2010 9:28am
Quoting MarcVUM
You guys did good last night with the short trades!

I went Nearly Naked with this chart.
http://smileys.smileycentral.com/cat/1/1_4_61.gif
Went short two lots averaging 98.3, I am not sure whether to exit at 97.3 as my original TP or not. Considering the holidays in the US and thin volumes and current fundamental issues, I think the downside is massive...
Find a job that you love and you dont have to work again in your life.
  • #9,564
  • Nov 23, 2010 9:33am Nov 23, 2010 9:33am
Quoting tradoholic
Went short two lots averaging 98.3, I am not sure whether to exit at 97.3 as my original TP or not. Considering the holidays in the US and thin volumes and current fundamental issues, I think the downside is massive...
That's a tough one. It just hit my lower TL and the D S2 / W S1. It could go back to 9800 before breaking support...the highest it will go is 9840 barring any fantastic news.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,565
  • Nov 23, 2010 9:38am Nov 23, 2010 9:38am
Quoting MarcVUM
That's a tough one. It just hit my lower TL and the D S2 / W S1. It could go back to 9800 before breaking support...the highest it will go is 9840 barring any fantastic news.
Closed my shorts in GBP, I wish I had taken a larger lot
Closed one of the lots in AUD, waiting to see what happens next.
Find a job that you love and you dont have to work again in your life.
  • #9,566
  • Nov 23, 2010 11:40am Nov 23, 2010 11:40am
Quoting tradoholic
Hi Marc,
I was just working on the astro charts, what I can work out is USD strengthening, weakness in GBP ( down to 1.57XX), and AUD weakness till Wednesday. My lower target for AUD ( astrologically) is about 97.2X.
Still cant justify it in technical terms. But I am going to short GBP on rise waiting for the right astro hour. Also, DOW is showing good signs of improvement after moon change (in about 7 days). Thought you might be interested.
This is Astro charts in action
Find a job that you love and you dont have to work again in your life.
  • #9,567
  • Nov 23, 2010 1:18pm Nov 23, 2010 1:18pm
Quoting tradoholic
This is Astro charts in action
Sure is! Also, it's a 95% full moon out there. I wouldn't be surprised if the position of the moon caused the electromagnetic field around the Earth to shift in a way that caused the iron in Kim Jong-il's brain to go bonkers!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,568
  • Nov 23, 2010 1:59pm Nov 23, 2010 1:59pm
Quoting MarcVUM
Sure is! Also, it's a 95% full moon out there. I wouldn't be surprised if the position of the moon caused the electromagnetic field around the Earth to shift in a way that caused the iron in Kim Jong-il's brain to go bonkers!
Good one!

Lets hope no more shelling going around, a war in ASIA is the last thing we need for a recovery. Long USD! Need not think twice.

What a market to be in.
May the pip flow with you
  • #9,569
  • Nov 23, 2010 2:25pm Nov 23, 2010 2:25pm
King Jon needs too

Inserted Video


Quoting MarcVUM
Sure is! Also, it's a 95% full moon out there. I wouldn't be surprised if the position of the moon caused the electromagnetic field around the Earth to shift in a way that caused the iron in Kim Jong-il's brain to go bonkers!
Annoying Precision
  • #9,570
  • Nov 23, 2010 2:54pm Nov 23, 2010 2:54pm
The neckline has been broken. IMO an ideal scenario would be a failed retest of the tl or s/r levels
Attached Image (click to enlarge)
Click to Enlarge Name: 210.gif Size: 29 KB
Annoying Precision
  • #9,571
  • Edited 4:09pm Nov 23, 2010 2:56pm | Edited 4:09pm
Well guys that was a good night’s sleep.
4 of my sell stops were opened and closed for around 90 pips. Wish I could do that every night.
Price is sitting on the Daily Medium 3 (DM3). Will it go up or will it go down?
Let’s see what happens when Sydney opens.
  • #9,572
  • Nov 23, 2010 3:08pm Nov 23, 2010 3:08pm
IMO a retest is almost inevitable, so I'll be looking for long positions before short positions.
Attached Image (click to enlarge)
Click to Enlarge Name: 211.gif Size: 25 KB
Annoying Precision
  • #9,573
  • Nov 23, 2010 3:09pm Nov 23, 2010 3:09pm
Quoting erikte279
IMO a retest is almost inevitable, so I'll be looking for long positions before short positions.
I'm a little long already. Hopefully it wasn't a bad move.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,574
  • Nov 23, 2010 3:18pm Nov 23, 2010 3:18pm
Euro is at my buy price, 1.3368, I thought it wasn't going to get down this far after Fridays close and I had missed the bottom but it is here now, I have a wide stop on this trade as it may fall to 1.3300ish still but I think this area is good for longs targeting new highs.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.GIF Size: 16 KB
  • #9,575
  • Nov 23, 2010 3:22pm Nov 23, 2010 3:22pm
Also long au, as long as the blue lows cap price.

Currencies have now moved down for 3 weeks which is the usual amount of time for a pullback, we should be looking at something similar to think January and August I think. Only problem is I don't think the S&P has come back far enough yet.
Attached Image (click to enlarge)
Click to Enlarge Name: au.GIF Size: 14 KB
  • #9,576
  • Nov 23, 2010 3:25pm Nov 23, 2010 3:25pm
just pull half at 1:1 and hold your original stop.
Quoting MarcVUM
I'm a little long already. Hopefully it wasn't a bad move.
Annoying Precision
  • #9,577
  • Nov 23, 2010 3:25pm Nov 23, 2010 3:25pm
Quoting amyc
Also long au, as long as the blue lows cap price.

Currencies have now moved down for 3 weeks which is the usual amount of time for a pullback, we should be looking at something similar to think January and August I think. Only problem is I don't think the S&P has come back far enough yet.
I follow you on that. My current long on A/U is nothing more than a scalp. I won't take a good long until 9650ish or a nice bull candle on H4.

Usually you utilize tight S/L's... not this time?
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,578
  • Nov 23, 2010 3:26pm Nov 23, 2010 3:26pm
DX has pulled back into the yearly midpoint (blue). As long as there is no quarterley close above here then the next move fpr the dollar should be down into the blue lows at 70 next year. This corresponds to a price of 1.60 on eu.
Attached Image (click to enlarge)
Click to Enlarge Name: dx.GIF Size: 20 KB
  • #9,579
  • Nov 23, 2010 3:29pm Nov 23, 2010 3:29pm
Quoting MarcVUM
I follow you on that. My current long on A/U is nothing more than a scalp. I won't take a good long until 9650ish or a nice bull candle on H4.

Usually you utilize tight S/L's... not this time?
I have a new strategy I am trying, I have lowered my position sizes and widened my stops and am trading on larger timeframes. On the move up since June I brought 90% of the swing lows on au and eu but only held them for 100-200 pips, if I had of held them until the trend ends I would have made 10X the profit so I am trying that out now.
  • #9,580
  • Nov 23, 2010 5:04pm Nov 23, 2010 5:04pm
AU, if the next 4hr bar closes above 9734 then we have a swing low in place, next move will be back to the midpoint. Bar closes in 1 hour.
Attached Image (click to enlarge)
Click to Enlarge Name: au.GIF Size: 13 KB
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