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Trading Major Lines

  • #781
  • Apr 12, 2011 8:12am Apr 12, 2011 8:12am
Quoting zusch
I'm confused on how you drew your Fibs on that last 5 min chart Nomask. From what it looks like you have your Fib from the low of that 4 hour candle to the recent move up. Is this how we are to draw Fibs on pinish looking bars?
we need a swing up when looking to go long..
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  • #782
  • Apr 12, 2011 10:09am Apr 12, 2011 10:09am
Quoting nomask
we need a swing up when looking to go long..
ej trade died at b.e too..
it went up 120 pips but came back all the way down to the entry level.
  • #783
  • Apr 12, 2011 10:36am Apr 12, 2011 10:36am
Quoting nomask
we need a swing up when looking to go long..
Oh, I thought we were supposed to draw it on the high of the previous candle and the low of the previous candle. But the way you have it drawn now is more logical.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #784
  • Apr 12, 2011 9:31pm Apr 12, 2011 9:31pm
Quoting nomask
we need a swing up when looking to go long..
I admit sometimes get lost as to the points where to place the fibs. As per previous examples I also drew them from the extremes of my H4, and not just grabbing the last move of it in my direction. Would you say this last sentence is the correct way to place them?

Looks like the EJ is preparing to do its bullish move. Let's see.

While analyzing your EJ 5M chart, the very first 3 candles on the "same story as yesterday box" are a setup to me. I wonder if you didn't consider it as you want the 2nd bullish candle to close strong (more body than previous plus no wick to the up side)?

Really loving this thing, totally fits my personality... you're a genius. Would be just a matter of turning profitable LOL. Would be great if I could trade London as well.

Cheers
  • #785
  • Apr 13, 2011 4:55am Apr 13, 2011 4:55am
Hi Nomask
Thanks again for the time you have devoted for others but it seems these days you are too busy to have valuable analysis on EU
Cheers
Tania
Just check my signals with your experience then decide, please,
  • #786
  • Apr 13, 2011 6:13am Apr 13, 2011 6:13am
Quoting cfabian
I admit sometimes get lost as to the points where to place the fibs. As per previous examples I also drew them from the extremes of my H4, and not just grabbing the last move of it in my direction. Would you say this last sentence is the correct way to place them?

Looks like the EJ is preparing to do its bullish move. Let's see.

While analyzing your EJ 5M chart, the very first 3 candles on the "same story as yesterday box" are a setup to me. I wonder if you didn't consider it as you want the 2nd bullish candle to close strong (more body than...
If you already bought and failed in that box area then you should wait for your second try until price gets out of that box.
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  • #787
  • Apr 13, 2011 6:13am Apr 13, 2011 6:13am
Both of my EU trades posted yesterday died. I set one of my BE too large - 60 pips. If I had set at 30pips, it would still be alive now.... I did not manage to enter any trade from asia-uk. Hopefully New York session will provide me an opportunity.


Jimi
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  • #788
  • Apr 13, 2011 6:48am Apr 13, 2011 6:48am
Quoting Tania
Hi Nomask
Thanks again for the time you have devoted for others but it seems these days you are too busy to have valuable analysis on EU
Cheers
Tania
eu is going nowhere these days..
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  • #789
  • Apr 13, 2011 8:16am Apr 13, 2011 8:16am
Thanks, For UR suggestion
Tania
Just check my signals with your experience then decide, please,
  • #790
  • Apr 13, 2011 12:06pm Apr 13, 2011 12:06pm
Quoting pex
would like comments for this pinbar
I'm watching this pair closely as well. This pinbar is against our weekly hindsight so I wouldn't be taking any trades off it. I'm waiting for a bullish 240 min candle closing above 1.05.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #791
  • Apr 14, 2011 4:56am Apr 14, 2011 4:56am
I rarely countertrade..maybe once in a month..
When I countertrade I really want to see the price moving away from my entry as quick as possible.
This is a very good example of it.
in 10 mins. you're good to move it to b.e..
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  • #792
  • Apr 14, 2011 7:04am Apr 14, 2011 7:04am
Took long on GBPUSD at 1.6323. Let me know what you think about this setup.
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Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #793
  • Apr 14, 2011 7:27am Apr 14, 2011 7:27am
Quoting zusch
Took long on GBPUSD at 1.6323. Let me know what you think about this setup.
trading inside bars not reliable imho..only setup I would be interested in your case is buying at the bottom of that inside bar..
but the bottom is very close to setup bar's low...no good setup
  • #794
  • Edited 10:01am Apr 14, 2011 7:43am | Edited 10:01am
Took long on AUDUSD at 1.0503. I'm being very cautious with this trade because we have bearish engulfing on 240 min chart.

I'm also still in my GBPUSD long. Was debating closing the position but it was literally the first signal I've gotten all week so I wanted to give it a little bit of wiggle room. Had visual stop of 12 pips which is relatively large.

Update: Took small loss on AUDUSD and B/E on GBPUSD.
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Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #795
  • Apr 14, 2011 4:14pm Apr 14, 2011 4:14pm
Quoting nomask
I rarely countertrade..maybe once in a month..
When I countertrade I really want to see the price moving away from my entry as quick as possible.
This is a very good example of it.
in 10 mins. you're good to move it to b.e..

I didn't see this setup on my H4. It was a nice 100 pip ride.

This week was kind of borring wasn't it? Besides one stupidity I made due desperation that caused me losses (leason learnt), I was just able to take a scalp on EJ to get 20 pips.

http://i51.tinypic.com/2yx41ao.jpg
  • #796
  • Apr 17, 2011 2:05pm Apr 17, 2011 2:05pm
The thread has been quiet this weekend. I hope everyone is doing well. My second EUR/USD position died at the retrace, but I hope my position at 1.43113 from 2 weeks ago survives the pullback.

What pairs are hot for this week? GBPAUD, USDJPY and USDCHF seem like they have setups on the weekly. GBPJPY and EJ both have large engulfing candles on the weekly, as well.

Your thoughts?

Edit: I'm looking at the MB Trading charts
  • #797
  • Apr 18, 2011 2:35am Apr 18, 2011 2:35am
not so many pairs at good levels with good p.a
but usdchf caught my eyes with this setup.
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  • #798
  • Apr 18, 2011 7:41am Apr 18, 2011 7:41am
What are we supposed to do with EURUSD? PA has already closed outside our Fib levels. I suppose we could still look for PA around the black line I have drawn.
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Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #799
  • Apr 18, 2011 7:55am Apr 18, 2011 7:55am
Quoting zusch
What are we supposed to do with EURUSD? PA has already closed outside our Fib levels. I suppose we could still look for PA around the black line I have drawn.
Thats about the only thing we can do...
If you think you can or cannot do it you are correct
  • #800
  • Apr 18, 2011 9:13am Apr 18, 2011 9:13am
Quoting zusch
What are we supposed to do with EURUSD? PA has already closed outside our Fib levels. I suppose we could still look for PA around the black line I have drawn.
Its been moving against my hindsight since the test of 1.45 level.
This is the time to sit back and let the price show its hand to you.
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