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Nearly Naked (Simple Trades)

  • #9,701
  • Nov 30, 2010 2:34pm Nov 30, 2010 2:34pm
Don't forget that today is the last day of the month!
Attached Image (click to enlarge)
Click to Enlarge Name: au.jpg Size: 98 KB
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,702
  • Nov 30, 2010 4:15pm Nov 30, 2010 4:15pm
Quoting MarcVUM
Days like this don't come around often! All you can say is Merry Xmas!!
Hi Marc

I know i woke up this morning and couldnt believe it!! on my night off
  • #9,703
  • Nov 30, 2010 4:24pm Nov 30, 2010 4:24pm
Quoting MarcVUM
Days like this don't come around often! All you can say is Merry Xmas!!

Well done Marc,
I had times away from the computer, so was unable to catch them all.
  • #9,704
  • Nov 30, 2010 4:28pm Nov 30, 2010 4:28pm
Quoting MarcVUM
Don't forget that today is the last day of the month!

Morning Marc,
Don’t forget today is the first day of the month.
Just realised, we get our Christmas gifts 16 hours before you do.
  • #9,705
  • Nov 30, 2010 4:33pm Nov 30, 2010 4:33pm
Quoting Peter-FX
Well done Marc,
I had times away from the computer, so was unable to catch them all.
Ohh, I didn't get all of those trades. Only the ones with good candle setups...mainly trading off of the M30 lately...the stochastic momentum index has been working out quite well on that TF. Using the H4 candlesticks to determine direction and the M15 to monitor. So far we don't have a bullish candlestick on H4 and with the news earlier from the Deficit Commission regarding the state of the U.S. debt we should probably see Gold go way up!! Haven't really determined what will happen with A/U. I'm telling you guys...as I have been for the past 8 months...the U.S. is not far behind Greece, Ireland, Portugal and Spain! It's just a matter of time before the roof falls... our President is not helping the situation with his Health Care Law!
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,706
  • Nov 30, 2010 4:48pm Nov 30, 2010 4:48pm
Quoting MarcVUM
Ohh, I didn't get all of those trades. Only the ones with good candle setups...mainly trading off of the M30 lately...the stochastic momentum index has been working out quite well on that TF. Using the H4 candlesticks to determine direction and the M15 to monitor. So far we don't have a bullish candlestick on H4 and with the news earlier from the Deficit Commission regarding the state of the U.S. debt we should probably see Gold go way up!! Haven't really determined what will happen with A/U. I'm telling you guys...as I have been for the past 8...

The 2 outside trend lines are from yesterday on the H1 chart and the inner line shows new changes on the M15 chart. Not much price action right now.

Edit:
Not sure why my charts are showing a blue background, if you click on it, you see the correct colours.
Attached Image (click to enlarge)
Click to Enlarge Name: 1-12-10-audusd.gif Size: 29 KB
  • #9,707
  • Nov 30, 2010 4:55pm Nov 30, 2010 4:55pm
Quoting Peter-FX
The 2 outside trend lines are from yesterday on the H1 chart and the inner line shows new changes on the M15 chart. Not much price action right now.
Yea, not much going on right now...we probably won't see anything until GDP in 1 1/2 hours. I'm going to run off and eat dinner.. be back later.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,708
  • Nov 30, 2010 5:04pm Nov 30, 2010 5:04pm
Quoting Peter-FX
The 2 outside trend lines are from yesterday on the H1 chart and the inner line shows new changes on the M15 chart. Not much price action right now.

Edit:
Not sure why my charts are showing a blue background, if you click on it, you see the correct colours.



Just testing:
Saving this as jpg let’s see if it’s different than the gif before.


It is! So jpg give better colour than the gif, when uploaded.
Attached Image (click to enlarge)
Click to Enlarge Name: 1-12-10-audusd.jpg Size: 163 KB
  • #9,709
  • Nov 30, 2010 5:15pm Nov 30, 2010 5:15pm
Marc, after Ians post your profile pic it was on my friends facebook profile

its spreading!

  • #9,710
  • Nov 30, 2010 5:16pm Nov 30, 2010 5:16pm
Last night for au we got an identical chart setup to what we did on 25 May. My long order got done at 9560, now lets see where we go next.
  • #9,711
  • Nov 30, 2010 5:22pm Nov 30, 2010 5:22pm
EU buy orders are at 1.2600 - 1.2755. I still hold the view that the next move is to 1.60.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.GIF Size: 24 KB
  • #9,712
  • Nov 30, 2010 5:22pm Nov 30, 2010 5:22pm
Quoting MarcVUM
Hi Nick. It looks like you did quite well and you made your profit already. Try using the SMI indicator below instead of the Stochs... use 5,3,3,3 as the settings.
Thanks Marc

Do you think the candle i chose for entry was good?

How does the SMI differ from the stochs?

"
SMI was created by William Blau in January 1993 issue of Technical Analysis of Stocks & Commodities. The SMI demonstrates where the close is relative to the middle of the last high/low range, in comparison to the close relative to the recent low/high with the Stochastic Oscillator, which resembles the Stochastic Momentum Index.
It's an oscillator that shifts between -100 and +100 and can be a bit less inconstant than an equal period Stochastic Oscillator. The oscillator consists of 2 lines - the moving average of the SMI (red) and the SMI (blue). The SMI will be negative if the close is less than the middle point of the range. The SMI will be positive if the close is greater than the middle point of the range.
The SMI interpretation is in fact the same as that of the Stochastic Oscillator. The most ordinary way of using it is to trade from is to sell when the SMI rises above +40 and then returns to the point under that level and to purchase at the moment when the SMI decreases under -40 and then shifts back above it. Another trading sign is to purchase when the SMI shifts above the moving average, and sell when the SMI decreases below the moving average.
Usually before basing any trades on strict oversold or overbought levels it is better to qualify the trendiness of the market using an indicator, for example, R-Squared. Levels should provide the most effective results if indicators provide a non-trending market trades based on strict oversold or overbought."
  • #9,713
  • Nov 30, 2010 5:33pm Nov 30, 2010 5:33pm
Quoting Peter-FX
Just testing:
Saving this as jpg let’s see if it’s different than the gif before.


It is! So jpg give better colour than the gif, when uploaded.
That is a good discovery, my black often turns out blue as well. Thanks Peter
  • #9,714
  • Nov 30, 2010 5:41pm Nov 30, 2010 5:41pm
Quoting nick7r
Thanks Marc

Do you think the candle i chose for entry was good?

How does the SMI differ from the stochs?
Interesting. I have put them side by side in the past to compare the setups and results...always seem to get better signals from the SMI. you must use the 5,3,3,3 settings though. the default settings don't give great signals.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,715
  • Nov 30, 2010 5:46pm Nov 30, 2010 5:46pm
Quoting amyc
That is a good discovery, my black often turns out blue as well. Thanks Peter

Thanks amy, I’m glad I can help you occasionally, even if it’s not trading.
Just been out in the garden to do some clipping, now I’m out again to cleanup my mess.
Just to remind you marc, we’re in a beautiful springtime, well actually, summer started today, and you’re in 2 feet of snow. Is that correct?
  • #9,716
  • Nov 30, 2010 5:48pm Nov 30, 2010 5:48pm
Quoting amyc
Last night for au we got an identical chart setup to what we did on 25 May. My long order got done at 9560, now lets see where we go next.
I really have no idea where this pair is going at the moment. I have conflicting signals and I haven't figured out how the global economic situation is going to impact the USD.

Just got this in: http://www.fx360.com/techAnalysis/Index.aspx?tab=audusd

Potential Strategy
Buy AUD/USD at 0.9515. Stop at0.9483. Profit target at 0.9563.

What is the trend?UpWhat is this pattern?Bullish Butterfly - See all chart patternsWhy is this significant?Multiple levels of support are converging in the same general area near 0.9515.What other indicators or Fib Levels support this thesis?127.2% of XA on the 8hr Chart.
Reason for Strategy
A bullish butterfly pattern is forming on the AUD/USD 30min Chart. The primary pattern is not very strong, but there is a secondary ABCD within the CD leg that makes this trade idea viable. Also, the trade would enter just above 127.2% of XA on the 8hr Chart.

Trade Invalidation
The trade idea is canceled if the pair rises above 0.9640 before reaching our entry.
When this baby hits 88 miles per hour, you're gonna see some serious s***.
  • #9,717
  • Nov 30, 2010 5:50pm Nov 30, 2010 5:50pm
Quoting MarcVUM
I really have no idea where this pair is going at the moment. I have conflicting signals and I haven't figured out how the global economic situation is going to impact the USD.

Just got this in: http://www.fx360.com/techAnalysis/Index.aspx?tab=audusd

Potential Strategy
Buy AUD/USD at 0.9515. Stop at0.9483. Profit target at 0.9563.

What is the trend?UpWhat is this pattern?[b]Bullish Butterfly - [url="http://www.fx360.com/techAnalysis/chartPatterns.aspx"]See...


News in 40 minutes, marc. That slows it down.

  • #9,718
  • Nov 30, 2010 5:51pm Nov 30, 2010 5:51pm
Quoting Peter-FX
Just to remind you marc, we’re in a beautiful springtime, well actually, summer started today, and you’re in 2 feet of snow. Is that correct?
Not in Sydney, we have 2 inches of water in the backyard.
  • #9,719
  • Nov 30, 2010 5:56pm Nov 30, 2010 5:56pm
Quoting amyc
Not in Sydney, we have 2 inches of water in the backyard.

Always thought Beauty Point, northern Tasmania had better weather than Sydney.
Must go and cleanup my mess.

  • #9,720
  • Nov 30, 2010 6:01pm Nov 30, 2010 6:01pm
Quoting Peter-FX
Thanks amy, I’m glad I can help you occasionally, even if it’s not trading.
Just been out in the garden to do some clipping, now I’m out again to cleanup my mess.
Just to remind you marc, we’re in a beautiful springtime, well actually, summer started today, and you’re in 2 feet of snow. Is that correct?
I live in Florida. No snow here! It's 85 degrees Fahrenheit out right now. The lowest we get down to in the winter is about 50 degrees Fahrenheit but that lasts for just a couple of days...actually in Miami, FL they only get to 65 degrees for a couple of days! Tropical Paradise.
http://smileys.smileycentral.com/cat/28/28_1_16.gif
When this baby hits 88 miles per hour, you're gonna see some serious s***.
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