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  • #15,441
  • Apr 26, 2011 8:07pm Apr 26, 2011 8:07pm
Quoting patrick25
May Dr. Joe with me. Added a position off the breaking inside candle for discount price with confirmed down trend in inside the hammer. Moved the first added position to breakeven.
Closed the first added position to lock in some more profit, moved second added to break even.
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  • #15,442
  • Apr 26, 2011 8:17pm Apr 26, 2011 8:17pm
Quoting patrick25
This is the power of the Boss and her two men(20&50). Be aware of where price is, relatively to Boss trend and SR. I had shorted on day 04/07, price hit first TP then took out my two BE. On the four hours trading account, I use average in and positioning with 123 pattern.
The force of Dr. Joe, moved all previous positions to present LH.
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  • #15,443
  • Apr 27, 2011 1:59am Apr 27, 2011 1:59am
Thanks for commenting on my usdjpy order Patrick. Strats method in placing orders a few pips higher/lower didnt put me in the market so no harm done on usdjpy.

gbpnzd sell order: 2.036, SL:2.062, TP1: 2.27

problems on this one: big SL, both gbp and nzd are strong atm.
Nonetheless order in place, smaller position than usual.

Comments welcome
GB
  • #15,444
  • Apr 27, 2011 2:00am Apr 27, 2011 2:00am
forgot chart, sorry for double posting
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  • #15,445
  • Apr 27, 2011 3:13am Apr 27, 2011 3:13am
Quoting Rubens PP
forgot chart, sorry for double posting
I think 2.03 is support but can still work....
  • #15,446
  • Apr 27, 2011 12:08pm Apr 27, 2011 12:08pm
Quoting Rubens PP
Thanks for commenting on my usdjpy order Patrick. Strats method in placing orders a few pips higher/lower didnt put me in the market so no harm done on usdjpy.

gbpnzd sell order: 2.036, SL:2.062, TP1: 2.27

problems on this one: big SL, both gbp and nzd are strong atm.
Nonetheless order in place, smaller position than usual.

Comments welcome
GB
Look like the Boss is ranging after a strong down trend. The trend is slowly changing. Take a look at the Boss last swing up and price had closed above 50 for the first time in a long time. It was a perfect time to wait for PA for short because trend was still down, 20&50 not cross yet, price at R. You are shorting now is a little too late, like Simpleman said price is at support. Price is trying to form a right shoulder on the Boss. I think price will be bouncing in this range until a break upside and 20&50 crosses then we have a trend change.
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  • #15,447
  • Apr 27, 2011 1:57pm Apr 27, 2011 1:57pm
I want echo back the last post with an example in case somebody thinks I am talking about in hindsight. Take a look at the Usdjpy Boss last swing up while trend is still down and 20&50 not cross, and price at R. I am all out with Usdjpy trade with the last position was a loss. This is personal experience from spending a lot of time looking at charts and picking up from Strat's pips, hope this help.
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  • #15,448
  • Apr 27, 2011 2:34pm Apr 27, 2011 2:34pm
Quoting patrick25
i want echo back the last post with an example in case somebody thinks i am talking about in hindsight. Take a look at the usdjpy boss last swing up while trend is still down and 20&50 not cross, and price at r. I am all out with usdjpy trade with the last position was a loss. This is personal experience from spending a lot of time looking at charts and picking up from strat's pips, hope this help.
i suppose what you mean by boss is price? Pls reply my
pm.thanks
  • #15,449
  • Apr 27, 2011 5:13pm Apr 27, 2011 5:13pm
[quote=patrick25;4575260]Look like the Boss is ranging after a strong down trend. The trend is slowly changing. Take a look at the Boss last swing up and price had closed above 50 for the first time in a long time..

Yes Patrick boss is ranging, although Big Boss says otherwise. My shorting appetites for this pair have yet to diminish.

Thorough explanations Patrick, on how you perceive charting.
Simpleman, from what I read SR was 2.06 and minor S 2.039. But after todays closing it's more likely you were wright..

Thank you both for commenting.

Furthermore gbpjpy candle is attractive tonight, however quite "expensive", it 'd be great if we got a discount..

opghm
  • #15,450
  • Apr 27, 2011 8:48pm Apr 27, 2011 8:48pm
Quoting patrick25
I want echo back the last post with an example in case somebody thinks I am talking about in hindsight. Take a look at the Usdjpy Boss last swing up while trend is still down and 20&50 not cross, and price at R. I am all out with Usdjpy trade with the last position was a loss. This is personal experience from spending a lot of time looking at charts and picking up from Strat's pips, hope this help.

I continue to believe that the slow, steady AUD/JPY train is the way to play that market.
  • #15,451
  • Apr 28, 2011 5:17am Apr 28, 2011 5:17am
Quoting kratun
At your service Mr.Strat,you're of such a great help not only for me but for most traders,although some of them disappeared Hell knows where.By the way how's your new site going?Cheers
I think site is going like a house on fire. More so for some. Some seem to be more shy to post.

I think we are forming a nice team and all sorts of ideas are being posted, showing progress.
Spinner 'Tis in the Waiting.....
  • #15,452
  • Apr 28, 2011 5:54am Apr 28, 2011 5:54am
Quoting Spinner
I think site is going like a house on fire. More so for some. Some seem to be more shy to post.

I think we are forming a nice team and all sorts of ideas are being posted, showing progress.
Good to see you're here Spinner.Hope to see more of your posts.I would like to see Elitejets posts as well ,but she seems to have disappeared somewhere.
  • #15,453
  • Apr 28, 2011 8:25am Apr 28, 2011 8:25am
Quoting kratun
Good to see you're here Spinner.Hope to see more of your posts.I would like to see Elitejets posts as well ,but she seems to have disappeared somewhere.
Nicola, (Elitejets), has had to take an enforced leave of absence to overcome a serious illness.
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,454
  • Apr 28, 2011 1:42pm Apr 28, 2011 1:42pm
Quoting strat
Nicola, (Elitejets), has had to take an enforced leave of absence to overcome a serious illness.
That's too bad really.We'll wait for her to recover and delight us with her excellent previews on the markets.Any thoughts on the markets today?I'm still not convinced to sell the dollar though.
  • #15,455
  • Apr 28, 2011 5:00pm Apr 28, 2011 5:00pm
Quoting kratun
That's too bad really.We'll wait for her to recover and delight us with her excellent previews on the markets.Any thoughts on the markets today?I'm still not convinced to sell the dollar though.
You must be the only trader out there not selling it!

Keep selling until the Feds finish driving it into the ground to make it as worthless as rocking horse droppings!
15 YEARS OF PASR ON FOREX FACTORY!
  • #15,456
  • Apr 29, 2011 10:11pm Apr 29, 2011 10:11pm
Could we, perhaps, be looking at Cable running to 1.92? It should be an interesting week.
  • #15,457
  • Apr 30, 2011 7:40am Apr 30, 2011 7:40am
Silver lost to gold yesterday too in %age terms. First time in ages that gold has outperformed silver on a daily basis. Could this be due to London being closed or perhaps the gold/silver ratio had the answers? As long as the USD is devalued by the Feds then gold will continue to rally as an alternative store of value.

The more the equity markets continue to rally, however, in the face of this insane money printing liquidity producing idiocy, the harder they will fall when the tap gets turned off. US Growth rate drops to 1.8% - market's response is for the DJIA to rally 50 points. The DJIA is looking rather toppy with this possible exhaustion blow-off wedge building. And we are nearly into May too. Come back on St Ledger's day (Sept 14) is the old adage! It's also right at the 261% Fib projection from the 09 low to the first high on 09.

I hope the new site is going great guns guys - I'll no doubt come and join in the learning come Jan next year on MBA completion!
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Trade less and become more profitable!
  • #15,458
  • Apr 30, 2011 8:51am Apr 30, 2011 8:51am
Quoting strat
Nicola, (Elitejets), has had to take an enforced leave of absence to overcome a serious illness.
really sorry to hear this news.... please foreward my good wishes and prayers,that she will overcome her illness...and to remain positive...

baz
  • #15,459
  • Apr 30, 2011 10:03am Apr 30, 2011 10:03am
Here we go most of the members of this nice thread have returned.Glad to see you all.As for the dollar it's really depreciate in value for now.That's what bank dealers/w.....s want.Buy low /sell high...etc,etc.Anyone drinking beer in this nice afternoon?
  • #15,460
  • Apr 30, 2011 11:48am Apr 30, 2011 11:48am
Yeah, I was kinda missing the old guys too - let's hope the useful and educational debate can continue here.

One thing I have learnt over the past 2 years is to not be wedded to your belief or view. I was always of the opinion that the stock market rally was a bear market rally and I would prove the markets wrong by sitting on the sidelines and waiting to get short. I was looking for reasons to short - suffering from confirmation bias! Mark Montier has produced some very good papers on Trading and Investing Behavioural analysis - his little book of behavioural analysis is a book shelf must for most.

In hindsight not participating in this new stock trend was very silly and I watched one of the biggest rallies in history unfold before my eyes, refusing to believe it had legs. Good traders would have recognised the new trend on the weekly chart after the higher low and rally out of that.

One thing is for sure though. There will be plenty of notice come the top and there will be ample chances to get short without having to pick a top. Let the others do that for you - just aim to get on board once the train has left the station!!
Trade less and become more profitable!
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