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  • #2,981
  • Nov 24, 2010 2:49am Nov 24, 2010 2:49am
Good stuff, thanks for the feedback LJ.

I know you don't usually trade Asia but I thought I would share my two trades from earlier this evening...

Short CAD/J

http://i24.photobucket.com/albums/c2...er/th_cadj.jpg

Short U/J

http://i24.photobucket.com/albums/c2...er/th_UJ-4.jpg

CAD/J hit TP...still holding UJ.
  • #2,982
  • Nov 24, 2010 4:03am Nov 24, 2010 4:03am
Quoting ingmarforex
http://www.youtube.com/watch?v=jRR49...eature=related

http://www.investopedia.com/articles.../04/012104.asp
Hi Ingmar, thanks for the link.
  • #2,983
  • Nov 24, 2010 4:09am Nov 24, 2010 4:09am
Hi LJ and thanks for everything http://cdn.forexfactory.com/images/s...m/thumbsup.gif
There is a better way to show entry and exit point in the charts (just if you use metatrader for live trading)
I mean that small red and blue arrows that appear dragging the result of the trade from terminal to the chart.
This way arrows are in the right point of the candle and not on the top of them.
I took the very first (winner) trade I did using your strategy (and the similar brv one) to show you the chart.
Thank you again LJ!
Attached Image (click to enlarge)
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  • #2,984
  • Nov 24, 2010 4:13am Nov 24, 2010 4:13am
Quoting esbatu
Hi Ingmar, thanks for the link.

You welcome mate
  • #2,985
  • Nov 24, 2010 4:32am Nov 24, 2010 4:32am
Quoting ale73a
Hi LJ and thanks for everything http://cdn.forexfactory.com/images/s...m/thumbsup.gif
There is a better way to show entry and exit point in the charts (just if you use metatrader for live trading)
I mean that small red and blue arrows that appear dragging the result of the trade from terminal to the chart.
This way arrows are in the right point of the candle and not on the top of them.
I took the very first (winner) trade I did using your strategy (and the similar brv one) to show you the chart.
Thank you again LJ!
Nice trade.

Yeah I know how to do that, but I don't use any MT broker for trading, I only use Fxpro (for main charts) and then Alpari and JadeFX for alternative 4HR bar closes...so only for the charts, not for trading, as I live in the UK spreadbetting is a more viable option at the moment.
  • #2,986
  • Nov 24, 2010 4:38am Nov 24, 2010 4:38am
Quoting sam0182
Good stuff, thanks for the feedback LJ.

I know you don't usually trade Asia but I thought I would share my two trades from earlier this evening...

Short CAD/J

http://i24.photobucket.com/albums/c2...er/th_cadj.jpg

Short U/J

http://i24.photobucket.com/albums/c2...er/th_UJ-4.jpg

CAD/J hit TP...still holding UJ.
I like the CJ short...PPZ, 61 fib and TL - obvious easy TP too.

Not that keen on the UJ one though. A better place to short would have been 82.30 but this pair is in a tight range between 82.80-83.70 so I'd be looking for trades at the extremes and as my bias is long (with the current short term trend) I'd be looking for a breakout and pullback style trade @ 83.70 or a PA trade from the current range low. That's just me though.
  • #2,987
  • Nov 24, 2010 5:17am Nov 24, 2010 5:17am
Quoting lovejoy80
In short I just use YM, EP and Oil to measure current risk sentiment and when YM in particular lines up at strong support with usd / jpy crosses then that can signal a very high probability trading opportunity. Generally speaking when risk appetite is increasing investors buy stocks ans buy higher yielding assets so the USD and JPY go down and YM goes up and vice versa. That's the very simplisitic way I look at things.
Hi LJ thanks for the explanation. Will look into more details about this. Happy trading
  • #2,988
  • Nov 24, 2010 5:27am Nov 24, 2010 5:27am
What do you think of this LJ? Bit nervous holding this one with that Korea news
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  • #2,989
  • Nov 24, 2010 6:49am Nov 24, 2010 6:49am
Quoting lovejoy80
Nice trade.

Yeah I know how to do that, but I don't use any MT broker for trading, I only use Fxpro (for main charts) and then Alpari and JadeFX for alternative 4HR bar closes...so only for the charts, not for trading, as I live in the UK spreadbetting is a more viable option at the moment.
I guessed it, your charts are a pleasure to watch the same
  • #2,990
  • Edited 11:19am Nov 24, 2010 7:09am | Edited 11:19am
Quoting esbatu
What do you think of this LJ? Bit nervous holding this one with that Korea news
1383 was an area I considered for a touch trade yesterday...ppz, 61 fib and TL, but decided against it because of how the market was moving.

With my touch trade I want a decent rejection from this area ... if there is a lack of momentum I'd likely cut it, but that's just me...sometimes it's best to stick to the reason you took the trade and if that's still valid then leave it other times its best to cut it if it hangs around.
  • #2,991
  • Nov 24, 2010 10:25am Nov 24, 2010 10:25am
Quoting lovejoy80
Some nice moves today which is unusual for a Monday. It was a case of taking some easy setups and just leavng them for me today.

1. ECHF - 4HR BEOB - took profit @ 1.3480 PPZ +1.3R
2. GU - 4HR BEOB of a well respected TL with the 1.6100 PPZ just above. exited at the 4HR rising TL + RN +2.42R
3. GJ - 4HR BEOb at double top - exited @ 133.00 +1.4R
4. AU - 1HR BEOb @ 50% + PPZ confluene...
You wrote, that your 2 and 3 trades were at 4HR BEOB, but at the charts, you've posted, we see 1 HR time frame with 1 HR BEOB.
Can you explain it ?

Thank you :-)
Per aspera ad astra
  • #2,992
  • Nov 24, 2010 10:48am Nov 24, 2010 10:48am
Trades for today

1. AU - touch trade @0.97500 - the market was due some sort of retracement and watching equities and oil I could see the fact they had been resting on support for a while and thus despite the sell off in FX currencies their support leels were holding thus for me this was a god sign a retracement was due, plus it's highly likely that some profit taking would occur with Thansgiving coming up so I was on the lookout for some decent setups.

Thus I took the touch trade and then I took a break of the BUOB at which point I exited my previous short from Monday. I'm still in the longs but exited the short for +4.98R

2. CJ - touch trade - like I said above was looking for some longs and yens in particluar were all near or at support levels with some divergence and were looking like they were gonna bounce, so waited for some setups to come and this was one - touch trade @ PPZ with fib confluence...took profit when price hit the TL +5R

3. EJ - 1HR pin...EJ was at a daily PPZ and 50% retracement and a 1HR pin formed with divergence so took this - am at BE on it now.

4. EU - major daily support and 61fib, touch trade taken @ BE now

5. UCHF - a bit contrary to the above setups but there is a previous month pin bar and yesterday was a BUOB, First I took a touch trade @ 0.9325 but got stopped out at BE and then I took a trade a 0.9900 and 61 fib confluence and am at BE now.
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  • #2,993
  • Nov 24, 2010 10:54am Nov 24, 2010 10:54am
Quoting Ihor
You wrote, that your 2 and 3 trades were at 4HR BEOB, but at the charts, you've posted, we see 1 HR time frame with 1 HR BEOB.
Can you explain it ?

Thank you :-)
Just checked and they were as per the charts i.e. 1HR TF PA.
  • #2,994
  • Nov 24, 2010 11:18am Nov 24, 2010 11:18am
Quoting lovejoy80
Here is something I'm watching...got to go and grab some sleep (was up late watching my open trades...glad I did so I could close them in time +plus got in some serious Black Ops gameplay!) but I've got an alert set for when price reaches near this area.

I'm also short GU (as per the setup already discussed) and YM.
An example of what a touch trade can turn into...a 500 pip move in 4 trading days. I was strongly bearish on EG and ECAD in particular for last couple weeks, been hard watching this pair keep falling...my original trade would have been worth 20R now!
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  • #2,995
  • Nov 24, 2010 2:05pm Nov 24, 2010 2:05pm
Quoting lovejoy80
Trades for today

1. AU - touch trade @0.97500 - the market was due some sort of retracement and watching equities and oil I could see the fact they had been resting on support for a while and thus despite the sell off in FX currencies their support leels were holding thus for me this was a god sign a retracement was due, plus it's highly likely that some profit taking would occur with Thansgiving coming up so I was on the lookout for some decent setups.

Thus I took the touch trade and then I took a break of the BUOB at which point I exited my...
Missed one out!

6. NU - confluence of PPZ and two TL's - BE result

Leaving UCHf, EJ and EU for now...SL's at BE. Took profit on the AU PA trade but leaving the SL on the touch trade @ 0.9780. profiut on the PA trade was +0.73R
Attached Image (click to enlarge)
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  • #2,996
  • Nov 25, 2010 8:08am Nov 25, 2010 8:08am
Nice pin off ppz
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  • #2,997
  • Nov 25, 2010 10:58am Nov 25, 2010 10:58am
Quoting makron
Nice pin off ppz
I opted for the 1HR pin with divergence. I took profit at FTA as I saw it as a nice and easy few guaranteed pips on an otherwise very slow light volume trading day.
Attached Image (click to enlarge)
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  • #2,998
  • Nov 25, 2010 3:09pm Nov 25, 2010 3:09pm
Firstly yesterdays closed trades total was +10.71R

Status of open trades from yesterday:

1. AU came back to hit SL at BE
2. EU - same as AU
3. EJ still in and SL at BE
3. UCHF still in and SL at BE

What with Thanksgiving it was obviously going to be a very quieter day today so I wasn't really paying much attention to the markets but took one easy trade as outline in the previous post above on GU.

Therefore today's total is +0.65R
  • #2,999
  • Nov 26, 2010 3:57am Nov 26, 2010 3:57am
EJ and EU hit SL at BE, UCHF I just took profit on. Not around for much of the day and thin volatile markets driven by fundamentls like Korea etc makes it easy for me to watn to stay away from trading today, so a day off for me.

UCHf resulted in a 5.96R win.

Weekly result:

15 trades, 15 winners +28.48R
  • #3,000
  • Nov 26, 2010 3:59am Nov 26, 2010 3:59am
Great week, even with the fundies & holidays getting in the way. Good work!
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