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Simple Simon Balance Line Trading

  • #1,101
  • Jun 23, 2011 1:55am Jun 23, 2011 1:55am
Good Morning Everyone,

It seems we have a quiet market again though London is about to open. I am observing USDJPY for possible long, NZDUSD for possible long and EURGBP for possible long.

Blackeagle
  • #1,102
  • Jun 23, 2011 1:56am Jun 23, 2011 1:56am
USDCHF looks interesting. There is a pivot and a fib level just below the blue line, but price has already pushed through 50 EMA.

Decent approach and angle - will monitor
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf.gif Size: 203 KB
  • #1,103
  • Jun 23, 2011 2:03am Jun 23, 2011 2:03am
EURGBP Sell stop at .88875 (below 50 EMA)
  • #1,104
  • Jun 23, 2011 2:04am Jun 23, 2011 2:04am
Quoting Colostarr
USDCHF looks interesting. There is a pivot and a fib level just below the blue line, but price has already pushed through 50 EMA.

Decent approach and angle - will monitor
I won't go against the USD tonight, it is kind of bullish.
  • #1,105
  • Jun 23, 2011 2:57am Jun 23, 2011 2:57am
Quoting Colostarr
EURGBP Sell stop at .88875 (below 50 EMA)
Whats your opinion on the resistance at .88800? or do you not worry about that one since it was basically yesterday and the day before session?

Also would like to say I have learned a lot just from this session. You can't find a better education. Just read the thread and look at the examples for anyone coming aboard.
  • #1,106
  • Jun 23, 2011 3:01am Jun 23, 2011 3:01am
I am watching this pair closely. If price closes at or near (above the 50 ema) I think it will go north. Will leave my sell stop in place for the formation of the next candle. The 50 ema is holding this pair back I think.

If it breaks 50 ema cleanly will be a nice drop though

Will continue to monitor

Quoting nawlins51
Whats your opinion on the resistance at .88800? or do you not worry about that one since it was basically yesterday and the day before session?

Also would like to say I have learned a lot just from this session. You can't find a better education. Just read the thread and look at the examples for anyone coming aboard.
  • #1,107
  • Jun 23, 2011 3:04am Jun 23, 2011 3:04am
Quoting Colostarr
I am watching this pair closely. If price closes at or near (above the 50 ema) I think it will go north. Will leave my sell stop in place for the formation of the next candle. The 50 ema is holding this pair back I think.

If it breaks 50 ema cleanly will be a nice drop though

Will continue to monitor
thanks for the quick reply.
  • #1,108
  • Jun 23, 2011 3:08am Jun 23, 2011 3:08am
NZDJPY 30M looks interesting
  • #1,109
  • Jun 23, 2011 3:15am Jun 23, 2011 3:15am
Morning all
Happy trading all. Titch
  • #1,110
  • Jun 23, 2011 3:17am Jun 23, 2011 3:17am
Good morning Neil!
  • #1,111
  • Jun 23, 2011 3:19am Jun 23, 2011 3:19am
Quoting Colostarr
NZDJPY 30M looks interesting
i did notice off the daily its a lot higher timeframe to check but its sitting right there on the blue line and bouncing. previous candle just closed above blueline and 50ema.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy.gif Size: 23 KB
  • #1,112
  • Jun 23, 2011 3:22am Jun 23, 2011 3:22am
Quoting Colostarr
Good morning Neil!
Hi mate, did you catch the EUR/AUD? I caught it yesterday late, Scalped it twice and small portion still in it. If it can break yesterdays low it is going to be a great ride.

Doubled the money I lost on it the day before. I knew it would happen just a matter of patience
Happy trading all. Titch
  • #1,113
  • Jun 23, 2011 3:25am Jun 23, 2011 3:25am
Did not - although I did notice the 4h is consolidating very nicely

Quoting Titch
Hi mate, did you catch the EUR/AUD? I caught it yesterday late, Scalped it twice and small portion still in it. If it can break yesterdays low it is going to be a great ride.

Doubled the money I lost on it the day before. I knew it would happen just a matter of patience
  • #1,114
  • Jun 23, 2011 3:25am Jun 23, 2011 3:25am
Good morning to everybody,

I noticed that you already focused on USDCHF ... so if I unterstood the nuts and bolts of this thread properly then we could have a buy set up with stop buy @ = 0,8416 (according to my brokers figures) .... am I right with that view ?

Thanks for this really interesting and enriching thread
Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF_1H_062311_1018.gif Size: 23 KB
  • #1,115
  • Jun 23, 2011 3:26am Jun 23, 2011 3:26am
Looks like it might bounce off the 50ema on the 30M, might be an opportunity to scalp a few here.

Will use my Oanda account as this pair only has 3 pip spread.

Quoting nawlins51
i did notice off the daily its a lot higher timeframe to check but its sitting right there on the blue line and bouncing. previous candle just closed above blueline and 50ema.
  • #1,116
  • Jun 23, 2011 3:30am Jun 23, 2011 3:30am
Quoting Colostarr
Did not - although I did notice the 4h is consolidating very nicely
Meant to say I changed the picture on the members area group yesterday as I was getting confused between the page and the group. If you look on the left hand side you will see the link to the members group. A bit below that you will see the name simple simon again with like a flag. Thats the page. If we type anything on either wall update it sends a message to anyone who has hit the like button on the page as well as anyone who is in the members group.
Happy trading all. Titch
  • #1,117
  • Jun 23, 2011 3:31am Jun 23, 2011 3:31am
Quoting Colostarr
Looks like it might bounce off the 50ema on the 30M, might be an opportunity to scalp a few here.

Will use my Oanda account as this pair only has 3 pip spread.
Thats what I am doing today. Day of scalping just to keep my hand in
Happy trading all. Titch
  • #1,118
  • Jun 23, 2011 3:39am Jun 23, 2011 3:39am
EUR/GBP H1 holds above the blueline we may get a long but the angle is an issue
  • #1,119
  • Jun 23, 2011 3:50am Jun 23, 2011 3:50am
Quoting Dortmunder
Good morning to everybody,

I noticed that you already focused on USDCHF ... so if I unterstood the nuts and bolts of this thread properly then we could have a buy set up with stop buy @ = 0,8416 (according to my brokers figures) .... am I right with that view ?

Thanks for this really interesting and enriching thread
Hi Dortmunder

You are on the right track but buy stop needs to be just above the candle high with the spread added plus 3 pip buffer. It looks like you might be a bit low. Difficult to see on your chart, might also be my eyes.
Defiantly on the right track
I hope this helps
Happy trading all. Titch
  • #1,120
  • Jun 23, 2011 4:00am Jun 23, 2011 4:00am
Quoting Titch
Hi Dortmunder

You are on the right track but buy stop needs to be just above the candle high with the spread added plus 3 pip buffer. It looks like you might be a bit low. Difficult to see on your chart, might also be my eyes.
Defiantly on the right track
I hope this helps
It definitely does! Thanks a lot! You are right, stop buy would have been 2-3 pips higher, so your eyes are correct

But neverthelesse .... the trade will not be entried as the actual hourly candle closes to the downside without hitting the stop buy and I will cancel the pending order ....
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