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Trading Major Lines

  • #921
  • May 4, 2011 8:07am May 4, 2011 8:07am
Quoting born4forex
I see good set up on Eu/Cad Weely chart, can u check it with me.
em,it looks like double bottom and at the fibo 50%,it's a good chance ,am i right?
  • #922
  • May 4, 2011 9:38am May 4, 2011 9:38am
Quoting tkmouse
em,it looks like double bottom and at the fibo 50%,it's a good chance ,am i right?
I think you're talking about H4 chart and I agree with you. That's almost engulfing candle and double bottom at 50% fibo resistance
  • #923
  • May 4, 2011 10:51am May 4, 2011 10:51am
EurUsd Key Levels
1.4764-1.4793
1.4784-1.4813
1.4814-1.4833
1.4830-1.4856
1.4841-1.4870
1.4864-1.4875
1.4838-1.4890
1.4864-1.4913
1.4910-1.4836
1.4827-1.4844
For those who sell and Buy on levels not for log term trading
Tania
Just check my signals with your experience then decide, please,
  • #924
  • May 4, 2011 1:49pm May 4, 2011 1:49pm
Quoting born4forex
I see good set up on Eu/Cad Weely chart, can u check it with me.
Sorry I couldn't reply sooner I just got out of work. Luckily I didn't miss any setups today as this was a rare occasion for me to have to work a morning shift during a weekday.

I've attached my EURCAD chart. I've also included my 4 hour chart analysis. Looks like a possible wedge setup could have been caught this morning (not using Nomask's method). I personally like to be a bit more aggressive when looking for patterns and signal bars on 4 hour chart. I would not have taken it just because of double top potential plus I was sleeping.

Weekly candle looks good so far. Possibly a good pair to watch next week. Thanks for alerting me and everyone else. This is a pair I haven't ever looked at before and the spread doesn't seem too extreme (about 2.8 pips for me).
Attached Image (click to enlarge)
Click to Enlarge Name: EURCAD.jpg Size: 201 KB
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #925
  • May 4, 2011 3:16pm May 4, 2011 3:16pm
Quoting Tania
EurUsd Key Levels
1.4764-1.4793
1.4784-1.4813
1.4814-1.4833
1.4830-1.4856
1.4841-1.4870
1.4864-1.4875
1.4838-1.4890
1.4864-1.4913
1.4910-1.4836
1.4827-1.4844
For those who sell and Buy on levels not for log term trading
Tania
I'm not sure where this is coming from. Long term trading (1000k+ pips) is the purpose of this thread. Our key levels are the major lines 1.4, 1.5, 1.6 and the .5 levels between them. I beat myself up for closing out at 500 pips when our goal is for 1k+ moves. Please keep the thread on target because it's one of the best ideas on this forum, in my opinion.

That being said, EU's been sneaking toward the 1.5 mark. If anyone has positions opened at 1.35 from earlier on in this thread, CONGRATS. I salute you for doing what I am having serious problems doing. I think Nomask still has that one going.

I hope we hit 1.5 and beyond because I hold one EU position from the medium line. (another 500 pip move that I'll probably not have the guts to hold any longer ) My cable position went from 260 pips to about 10 or so from the big spikedown yesterday. It's barely hanging on at BE. These emotional hurdles are so damned hard to deal with. I hope both pairs move north. We'll probably see these pairs go one way or the other after tomorrow's ECB news/Friday's NFP and we'll have a good idea where we stand next week.

Happy pips to all!
  • #926
  • May 4, 2011 6:55pm May 4, 2011 6:55pm
Quoting jasonc1213
I'm not sure where this is coming from. Long term trading (1000k+ pips) is the purpose of this thread. Our key levels are the major lines 1.4, 1.5, 1.6 and the .5 levels between them. I beat myself up for closing out at 500 pips when our goal is for 1k+ moves. Please keep the thread on target because it's one of the best ideas on this forum, in my opinion.

That being said, EU's been sneaking toward the 1.5 mark. If anyone has positions opened at 1.35 from earlier on in this thread, CONGRATS. I salute you for doing what I am having serious problems...
Hi
Tks For UR suggestion but you didn't see my Fibo Pic. about this pair and as you know these days you can't find clear trending direction for this pair and it is ranging between 1.4685 and 1.4900 so what you mean? also no one asks you whether you are sure or not?
and i didn't suggest any system for trading , they are just some levels for trading and it's not against this thread
Have a good day 500 pips sir
Tania
Just check my signals with your experience then decide, please,
  • #927
  • May 5, 2011 1:24am May 5, 2011 1:24am
Quoting Tania
Hi
Tks For UR suggestion but you didn't see my Fibo Pic. about this pair and as you know these days you can't find clear trending direction for this pair and it is ranging between 1.4685 and 1.4900 so what you mean? also no one asks you whether you are sure or not?
and i didn't suggest any system for trading , they are just some levels for trading and it's not against this thread
Have a good day 500 pips sir
Tania
I did not mean any disrespect. If you were posting about long term trading per Nomask's methods, then I apologize.

I believe that this thread (and Graeme's) have the capacity to change lives. I am happy with the results on my live account so far using this methodology and I know that with some patience that I will reach my goals. I hope that this thread stays alive (and focused) for a long time so that others can say the same thing.

Back to trading: Nomask and friends - What are your thoughts on taking a trade off of a bounce of the lowest low of a (small) 4 hour pinbar? I realize it's riskier than a double bottom or a pinbar on a fib level which is why I only took it on demo, but it's on the lowest point of the 4 hour wick if it ends up going our direction. I have a GU position alive from 4/27 that had a similar setup. The red line was a 5M (4 pip SL) entry taken now at BE. If EU smashes northward out of her range, I'm going to be kicking myself for taking this trade on demo.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 62 KB
  • #928
  • May 5, 2011 1:42am May 5, 2011 1:42am
Good morning everyone..I'm extra busy (will be for a while) recently.Sorry for being late to catch up with you guys.
Quoting tkmouse
nomask , are you in this 4hr bar or waiting for confirming this pinbar valid?
I entered for the pinbar you asked me and ended with 5 pips loss..
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-05_0939.png Size: 53 KB
  • #929
  • May 5, 2011 1:43am May 5, 2011 1:43am
Quoting liangko
Sigh, do not know what happen to GU this evening caused the sharp drop. My position died at BE just like that.
get use to it my friend
It'll be worse than this.Trust me
  • #930
  • May 5, 2011 1:46am May 5, 2011 1:46am
Quoting Tania
Tks for your suggestion but if u look at the Upper-Left side of window u see H1 not H4 also for interpreting i fully agree with you( H4)
But for short trading H1 and M5 as i did today at that time,and i got 23 pips within 6 min.
Cheers
I'm happy for your pips but maybe you missed a thousand-pip ride by doing that?
think about it.
  • #931
  • May 5, 2011 1:51am May 5, 2011 1:51am
Quoting zusch
Took long at 1.4836. Price just hovering around my entry. Hopefully it will move up soon.

Just took 9 pip loss including spread. Last few entries have hardly even gone in the green at all...frustrating...
What I've experienced is when it doesnt move into your direction quickly,usually price gets in a consolidation or move to opposite direction.
  • #932
  • May 5, 2011 1:57am May 5, 2011 1:57am
Quoting born4forex
I see good set up on Eu/Cad Weely chart, can u check it with me.
I don't have this pair in my list but that was a very nice setup.Good catch.
  • #933
  • May 5, 2011 2:08am May 5, 2011 2:08am
Quoting jasonc1213
I'm not sure where this is coming from. Long term trading (1000k+ pips) is the purpose of this thread. Our key levels are the major lines 1.4, 1.5, 1.6 and the .5 levels between them. I beat myself up for closing out at 500 pips when our goal is for 1k+ moves. Please keep the thread on target because it's one of the best ideas on this forum, in my opinion.

That being said, EU's been sneaking toward the 1.5 mark. If anyone has positions opened at 1.35 from earlier on in this thread, CONGRATS. I salute you for doing what I am having serious problems...
Good work Jason.
This pain (emotional hurdles) will make you even stronger trader.Don't worry about larger pips for now..Once you hit 500 pips you'll start craving for 1000 pips or so when you see your position could grow into 1000 pips if you didn't close it.
But nothing wrong with taking profit at 500 pips..Its nice trade.
  • #934
  • May 5, 2011 2:28am May 5, 2011 2:28am
Quoting Tania
Hi
Tks For UR suggestion but you didn't see my Fibo Pic. about this pair and as you know these days you can't find clear trending direction for this pair and it is ranging between 1.4685 and 1.4900 so what you mean? also no one asks you whether you are sure or not?
and i didn't suggest any system for trading , they are just some levels for trading and it's not against this thread
Have a good day 500 pips sir
Tania
When there is a consolidation you can trade bottoms and tops if there are some price actions but also you can wait until price gets out of its range.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-05-05_1012.png Size: 49 KB
  • #935
  • May 5, 2011 2:31am May 5, 2011 2:31am
Nomask,

I am very happy that I found this thread of yours. I truly missed your insight on the equity millipede thread.

I really enjoy the simple way that you look at the market and manage to ignore all the noise around you...I'm starting to realize it's harder than it seems.

Personally, I've taken a break from trading for a while and am looking to get back into it. I've read a few of your past posts and it looks like you we're pretty much on the dot about EU going to 1.5 after it passes 1.4.

I'm just wondering what your trading strategy is right now? Are you in the watching stage or are you still probing with long positions? I know I'm a bit hesitant to start trading with the trend here as we're nearing a big resistance area. I'd love to get your ideas.

Cheers,
Ardi
  • #936
  • May 5, 2011 2:39am May 5, 2011 2:39am
Quoting jasonc1213
I did not mean any disrespect. If you were posting about long term trading per Nomask's methods, then I apologize.

I believe that this thread (and Graeme's) have the capacity to change lives. I am happy with the results on my live account so far using this methodology and I know that with some patience that I will reach my goals. I hope that this thread stays alive (and focused) for a long time so that others can say the same thing.

Back to trading: Nomask and friends - What are your thoughts on taking a trade off of a bounce of the lowest low...
Imho,This seems like a very aggresive entry.Sometimes it'll work out initially but later on it may die at b.e because It did not have enough push to move further.Because it was a risky entry and mass orders don't like risky entries.It needs to be clear and obvious.

for entering at bottom (or top),I'd be only interested in inside bars.They're great for this type of trading.example attached.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2011-05-05_1033.png Size: 65 KB
Click to Enlarge Name: 2011-05-05_1037.png Size: 53 KB
  • #937
  • May 5, 2011 2:45am May 5, 2011 2:45am
Quoting ardi55
Nomask,

I am very happy that I found this thread of yours. I truly missed your insight on the equity millipede thread.

I really enjoy the simple way that you look at the market and manage to ignore all the noise around you...I'm starting to realize it's harder than it seems.

Personally, I've taken a break from trading for a while and am looking to get back into it. I've read a few of your past posts and it looks like you we're pretty much on the dot about EU going to 1.5 after it passes 1.4.

I'm just wondering what your trading strategy...
Thanks a lot Ardi..
I did take a break in the past too..
They say when you come back after a break you do better in trading..True for me.
Basically I'm biased still long since there is no short setup on the weekly yet.But sure I get extra picky in terms of opening new longs when we're right below the 1.5 level.
If this week makes a close above it,I'll keep my hindsight as it is (long)
If this week touches 1.5 level and makes a bearish setup (pinbar,engulfing candle) then I'll start looking to short.
  • #938
  • May 5, 2011 12:04pm May 5, 2011 12:04pm
Quoting nomask
I don't have this pair in my list but that was a very nice setup.Good catch.
Thanks a lot nomask
But market so crazy today, I like watching now
  • #939
  • Edited 3:42pm May 5, 2011 1:28pm | Edited 3:42pm
Hi guys . I use similar system for my trading . Many of you complain for the missing trades because work or diff time zone. To solve this you can use program Ea call MAGICK STICK. You draw you support resistance or any other line and they become your buy or sell orders … So google it . Thay selling it for 1000 $$ but you can find free one on net. Check youtube for videos.
Vit
  • #940
  • May 5, 2011 2:20pm May 5, 2011 2:20pm
Thanks nomask
The pair gets down like 2009 but i am all ear for your suggestion when it's time for returning from 1.4
Have a good day all
Just check my signals with your experience then decide, please,
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