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Trades based on Market Geometry and Price Action

  • #881
  • Jun 17, 2011 12:26pm Jun 17, 2011 12:26pm
eu heading 1.3980 ish ???
  • #882
  • Jun 17, 2011 12:26pm Jun 17, 2011 12:26pm
what do you mean ? can you be more clear ?
  • #883
  • Jun 17, 2011 12:30pm Jun 17, 2011 12:30pm
I see a support line at 1.3988 and since the retracement has reach 38 fib , would it head south again?
  • #884
  • Jun 17, 2011 12:37pm Jun 17, 2011 12:37pm
it's possible to head south again. but to have a good view of it, we have to wait for the close of today, in order to perform an accurate analysis. An other thing is, it could also go up a little bit before heading down. This information, will be provided by the chart next week. No more trades have to be taken right now, unless you wish to be risky
there is no volume, and market is closing in 2 hrs
  • #885
  • Jun 17, 2011 12:44pm Jun 17, 2011 12:44pm
Quoting dailyking
it's possible to head south again. but to have a good view of it, we have to wait for the close of today, in order to perform an accurate analysis. An other thing is, it could also go up a little bit before heading down. This information, will be provided by the chart next week. No more trades have to be taken right now, unless you wish to be risky
there is no volume, and market is closing in 2 hrs
Roger that .
So weekend analysis to go .
  • #886
  • Jun 17, 2011 12:47pm Jun 17, 2011 12:47pm
yep i will post some week end analysis. at the end of the week i make 3 analysis before being sure about what i will be doing the following.
1 analysis friday night
2nd saturday
3rd sunday...
when i complete these 3 analyses, i know that even i loos a trade, i have totally respected my set ups. so it doesn't hurt me..
  • #887
  • Jun 17, 2011 12:52pm Jun 17, 2011 12:52pm
your chf/yen trade you were talking about..is almost ready for next week.
i say ready! totaly ready !!!
  • #888
  • Jun 17, 2011 12:59pm Jun 17, 2011 12:59pm
Quoting dailyking
yep i will post some week end analysis. at the end of the week i make 3 analysis before being sure about what i will be doing the following.
1 analysis friday night
2nd saturday
3rd sunday...
when i complete these 3 analyses, i know that even i loos a trade, i have totally respected my set ups. so it doesn't hurt me..
Please show them DK so we could learn and see how you build trades .
I see your trades are less risk trades , I would be looking for safe set ups for next week too .
  • #889
  • Jun 17, 2011 1:04pm Jun 17, 2011 1:04pm
Quoting dailyking
your chf/yen trade you were talking about..is almost ready for next week.
i say ready! totaly ready !!!
  • #890
  • Jun 17, 2011 1:09pm Jun 17, 2011 1:09pm
will do what i can
  • #891
  • Jun 17, 2011 1:09pm Jun 17, 2011 1:09pm
Will get some sleep , nice weekend DK
  • #892
  • Jun 17, 2011 1:12pm Jun 17, 2011 1:12pm
thx same to u . what time is it there ?
  • #893
  • Jun 17, 2011 1:50pm Jun 17, 2011 1:50pm
Taking a bit longer than expected. But is that a fakey I see on the EurCHF, hope so...
  • #894
  • Jun 17, 2011 1:57pm Jun 17, 2011 1:57pm
it's a fakey...but will price follow ? that's the question...
  • #895
  • Jun 17, 2011 2:02pm Jun 17, 2011 2:02pm
My guess is that all bargain hunters of this day should lock in all profit, because monday we will see nice round figures like 1,40 on the eurusd, and 1,60 on the GU. It's all psychology. I'm with the trend on EURCHF so no problem there, hope it's tonight though that price will follow my wicked little plan. But it's friday, I know.
  • #896
  • Jun 17, 2011 2:10pm Jun 17, 2011 2:10pm
next week will be pretty good for informed traders...
  • #897
  • Jun 17, 2011 2:28pm Jun 17, 2011 2:28pm
i book an other nice profits on my trades...i closed a big part of the remaining position and left a tiny portion...next week will bring in more entries..

  • #898
  • Jun 17, 2011 2:59pm Jun 17, 2011 2:59pm
3% down for the week...ive been watching dk clean up intra day while im sitten here with my wk trades lol...your comment about most professoinals being contrarians has stuck with me...im thinkn instead of looking for trends to continue to start lookn for the end of trends and get in at the source of a move...
  • #899
  • Jun 17, 2011 3:11pm Jun 17, 2011 3:11pm
still you will need to trade with the trend in order to maximize profits. But learning markets turning points will give you an edge. And true edge comes from higher time frames. you are doing good by using intra day charts to trade but this is not sufficient to chart efficiently the market. The best market road map lies in the heart of long term charts. learn that, spend hours in front of your charts, you will discover many things. Even yesterday, i discovered something new, i immediately used to confirm my trend direction for the eur/gbp trade...what you know is not bad, even really good.. but learning more will give you so much confidence in your trades and set up, a kind of confidence nobody can teach you or translate to you...
i will be sitting in front of these charts till i feel satisfy, and find answers to my question before leaving....

everyday, i learn something new...
  • #900
  • Jun 17, 2011 3:33pm Jun 17, 2011 3:33pm
Quoting dailyking
still you will need to trade with the trend in order to maximize profits. But learning markets turning points will give you an edge. And true edge comes from higher time frames. you are doing good by using intra day charts to trade but this is not sufficient to chart efficiently the market. The best market road map lies in the heart of long term charts. learn that, spend hours in front of your charts, you will discover many things. Even yesterday, i discovered something new, i immediately used to confirm my trend direction for the eur/gbp trade...what...
i try to come to some kind of conclusion each week so i can improve for the next...always trying to learn more...that is why i really appreciate your thread because it helps get a different perspective and see things i might of overlooked and we have a similar trading style...the collective behaviour of market participants is reflected in the pa
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