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Trades based on Market Geometry and Price Action

  • #861
  • Jun 17, 2011 3:45am Jun 17, 2011 3:45am
an aggressive entry with tight stop loss on eur/gbp will be at 0.8793 sl=0.8764. this is in case you are an aggressive trader
  • #862
  • Edited 3:58am Jun 17, 2011 3:52am | Edited 3:58am
We had a perfect example of impulse wave down(12345) for pairs like eurchf, eurusd gbpusd, now we are in consolidation or corrective move which almost always retraces back to 38,2 or mostly 50 %. I see the A and B wave. Time to get in the C wave up on these pairs to complete the pattern. On GU a perfect resistance is found at 1,62148, Eurusd the same but at level 1.43159. When you're in profit, protect it by setting BE. Don't be greedy and don't set TP at the exact levels of resistance: take profit in time or set trailing stop in the end.

If you like you can also take the fib levels as TP point, my advice take the lowest of resistance line and fib lvl, sometimes they coincide, which is the best!

I think after the bad week it's time for the bargain hunters on friday to go on weekend with a good feeling.
  • #863
  • Jun 17, 2011 3:58am Jun 17, 2011 3:58am
eur/usd and gbp/usd speak to me . more than the eur/chf set up
  • #864
  • Jun 17, 2011 4:00am Jun 17, 2011 4:00am
That's correct, eur/chf is the lesser of the trades.
I noticed you trade EURCAD too, that's a 7 pip spread at times, that's a lot i think. I stay away from those pairs unless it's the monster (GBPJP
Y)
  • #865
  • Jun 17, 2011 4:10am Jun 17, 2011 4:10am
Quoting sugarbelly
We had a perfect example of impulse wave down(12345) for pairs like eurchf, eurusd gbpusd, now we are in consolidation or corrective move which almost always retraces back to 38,2 or mostly 50 %. I see the A and B wave. Time to get in the C wave up on these pairs to complete the pattern. On GU a perfect resistance is found at 1,62148, Eurusd the same but at level 1.43159. When you're in profit, protect it by setting BE. Don't be greedy and don't set TP at the exact levels of resistance: take profit in time or set trailing stop in the end.

If you...
A very timely call
  • #866
  • Jun 17, 2011 4:13am Jun 17, 2011 4:13am
eur/cad is one of the best pair when you understand its behaviour. the spread is nothing compared to the amount of pips it will provide you, and quickly...
  • #867
  • Jun 17, 2011 4:26am Jun 17, 2011 4:26am
Well, that was fun. Now I'm off to work; my other hobby.
have a great weekend. Go get some flowers for a beautifull girl and be nice to everyone.
  • #868
  • Jun 17, 2011 4:26am Jun 17, 2011 4:26am
both aggressive and conservative trades are working fine on eur/gbp...eur/cad also is showing some beautiful aggressiveness...hope this continue till the end of the day
  • #869
  • Jun 17, 2011 4:33am Jun 17, 2011 4:33am
Quoting sugarbelly
Well, that was fun. Now I'm off to work; my other hobby.
have a great weekend. Go get some flowers for a beautifull girl and be nice to everyone.
  • #870
  • Jun 17, 2011 4:37am Jun 17, 2011 4:37am
what kind of job do you do? sugar ?
  • #871
  • Jun 17, 2011 8:34am Jun 17, 2011 8:34am
just closed half of my position on silver. doesn't seem to work
  • #872
  • Jun 17, 2011 8:43am Jun 17, 2011 8:43am
i closed the silver trade...
  • #873
  • Jun 17, 2011 11:50am Jun 17, 2011 11:50am
Wow, I didn't know I was that accurate. Unfortunately I didn't witness the entire trade since I was gone for a few hours. Now shorting on the way back a bit.

I won't tell my real job, it is not important.
  • #874
  • Jun 17, 2011 11:52am Jun 17, 2011 11:52am
I think UJ is ready for turning up, but I am not certain, I 'll wait a bit till it is going up and then enter.
Not easy trying to catch a falling knife, but that's where I come in.
  • #875
  • Jun 17, 2011 12:00pm Jun 17, 2011 12:00pm
i think usd/yen is showing short signal for next week...
please close half of you position on all your eur/gbp and eur/cad. and move stop to break even on all of them...next week will give an other entry
+50 pips eur/cad
+50 pips eur/gbp 1
+38 pips eur/gbp 2
-50 pips on silver

sweet
  • #876
  • Jun 17, 2011 12:17pm Jun 17, 2011 12:17pm
With the risk of overtrading I am trying to get just a few pips more so I can say I doubled my account in 1 month and 6 days. just a few more minutes. Let's see how far we can stretch it. Not for the faint at heart !
  • #877
  • Jun 17, 2011 12:18pm Jun 17, 2011 12:18pm
the market is already done, just wait for sunday-monday...
  • #878
  • Jun 17, 2011 12:19pm Jun 17, 2011 12:19pm
Quoting sugarbelly
Wow, I didn't know I was that accurate. Unfortunately I didn't witness the entire trade since I was gone for a few hours. Now shorting on the way back a bit.

I won't tell my real job, it is not important.
Yap, minutes after the your call , the eu broke thru the pivot as if you triggered some thing haha.
  • #879
  • Jun 17, 2011 12:24pm Jun 17, 2011 12:24pm
Quoting dailyking
i think usd/yen is showing short signal for next week...
please close half of you position on all your eur/gbp and eur/cad. and move stop to break even on all of them...next week will give an other entry
+50 pips eur/cad
+50 pips eur/gbp 1
+38 pips eur/gbp 2
-50 pips on silver

sweet
Dk , that what I want in a week ,,,,.
  • #880
  • Jun 17, 2011 12:25pm Jun 17, 2011 12:25pm
no problem...
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