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Trades based on Market Geometry and Price Action

  • #801
  • Jun 15, 2011 11:28am Jun 15, 2011 11:28am
sorry Monguito, i did not see your question. i recommend to wait for the weekly close because the pair is forming a nice set up, but as price are turning down, it would be better to get the close of the week to feel the trend for next week. You can enter the trade on intraday basis, but why not wait for more confirmation ? look at the aud/usd. this was so predictable since the beginning of the week...
  • #802
  • Jun 15, 2011 12:18pm Jun 15, 2011 12:18pm
That was a good call DK !
  • #803
  • Jun 15, 2011 12:23pm Jun 15, 2011 12:23pm
no problem . enjoy your meal...
  • #804
  • Jun 15, 2011 12:48pm Jun 15, 2011 12:48pm
Even took two trades while I was making dinner. shorted AU and long on UJ which is now climbing. The Pilaw rice tasted delicious. I am up 70 % now during the last month, but i'm not i it for the money, for some strange reason I like to watch the charts all day long and see it moving.
  • #805
  • Jun 15, 2011 2:14pm Jun 15, 2011 2:14pm
Quoting Kas1
stopped out of ch jp chop chop, wouldnt be suprised if it moves down still...just closed profit on gbus though...not impressed i missed that nz us trade
tryn to short au ch atm...couldnt get the entry i wanted on au us so i left it alone...nz us would of been a target hit
Attached Image (click to enlarge)
Click to Enlarge Name: au ch.gif Size: 26 KB
  • #806
  • Jun 15, 2011 2:23pm Jun 15, 2011 2:23pm
i know some beautiful set up can occur in the market. the thing is professionals like playing reversal and caching amateurs in fake trends. and today is a market where professionals were ready to short, and reverse short term trends upon traders. seriously professionals are contrarians...
  • #807
  • Jun 15, 2011 3:43pm Jun 15, 2011 3:43pm
Nobody said it would be easy ;-)
  • #808
  • Jun 15, 2011 3:46pm Jun 15, 2011 3:46pm
yes .. for sure it's not easy, but so interesting to see yourself being educated by the market. this market taught me so great human values, mostly mind building and importance of strong psychology to succeed in life. Out there, people are selling dreams, saying that it's easy to make money in 1 hr !!!
  • #809
  • Jun 15, 2011 4:12pm Jun 15, 2011 4:12pm
definitley not easy, im down 4% this week still...would be 3% if i had that nz us...i set my trades take about 2 and half days to mature on average...this market does not let you sleep much
  • #810
  • Jun 15, 2011 4:16pm Jun 15, 2011 4:16pm
...eu ch, nz jp, only 2 trades i have atm
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euch.gif Size: 34 KB
Click to Enlarge Name: nzjp.gif Size: 36 KB
  • #811
  • Jun 15, 2011 4:36pm Jun 15, 2011 4:36pm
that's good Kas1
i'm going out atm. i will log out and come back at around 9:30 pm eastern time..

thx
  • #812
  • Jun 15, 2011 6:21pm Jun 15, 2011 6:21pm
ch jp had stopped me out before but it seems its moving down still...tryn to find a short again, 94861
  • #813
  • Jun 15, 2011 7:15pm Jun 15, 2011 7:15pm
Quoting dailyking
sorry Monguito, i did not see your question. i recommend to wait for the weekly close because the pair is forming a nice set up, but as price are turning down, it would be better to get the close of the week to feel the trend for next week. You can enter the trade on intraday basis, but why not wait for more confirmation ? look at the aud/usd. this was so predictable since the beginning of the week...
DK your AU target was accurate . Waked up with a pocket full.

Agreed about the ch/jp , I tend to fall in the fish market these days, open early , close early . Will try to learn and form a weekly trade plan .
  • #814
  • Jun 15, 2011 7:37pm Jun 15, 2011 7:37pm
Quoting Kas1
ch jp had stopped me out before but it seems its moving down still...tryn to find a short again, 94861
Im short from 95.07 , but that 9483 line is rock hard .
I have never traded ch/jp cause it tends to move slow , but hoped in this time .Risky at the moment as DK says.
  • #815
  • Jun 15, 2011 9:52pm Jun 15, 2011 9:52pm
i will reinforce my aud/usd and eur/usd trades...

short aud/usd at 1.0616 sl=1.0685 tp1=1.0560 tp2=1.0480 tp3=1.0415
short eur/usd at 1.4242 sl=1.4312 tp=1.4100

happy pips...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aud.usd.gif Size: 15 KB
Click to Enlarge Name: eur.usd.gif Size: 14 KB
  • #816
  • Jun 15, 2011 10:32pm Jun 15, 2011 10:32pm
No current trades

Looking for a good suggestion on E/U and AUD/USD

and GBP/USD

THanks DK for the AUD/USD trade
  • #817
  • Jun 15, 2011 10:36pm Jun 15, 2011 10:36pm
Hi DK again. i would agree for further downwards movement for audusd. but for eurusd, im not sure if that would be wise. trendline formed in both H1, H3 are showing signs that a retracement to 1.4400 before seeing more movement for downwards movement.
  • #818
  • Jun 15, 2011 10:46pm Jun 15, 2011 10:46pm
Quoting monguito
Im short from 95.07 , but that 9483 line is rock hard .
I have never traded ch/jp cause it tends to move slow , but hoped in this time .Risky at the moment as DK says.
the last couple 4hr closes below 94861 i see give me more confidence that its going to continue moving down...not in but looking
  • #819
  • Jun 16, 2011 12:34am Jun 16, 2011 12:34am
i may be wrong. but, based on my experience, a wide range bar ( big candle) like the one that formed yesterday tells you the market will continue in the same direction for a bit before retracing. (this is when you play with the trend)...
second thing is, my trend line on eur/usd on daily has been broken. so price are heading now to the support level around 1.4000

thx for your contributions
Attached Image (click to enlarge)
Click to Enlarge Name: eur.usd.gif Size: 19 KB
  • #820
  • Jun 16, 2011 12:36am Jun 16, 2011 12:36am
it seems like it is heading down ~ btw, how do you post charts? i wish to post to share my thoughts but have no idea other than screenshot the whole page hahas.
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