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Trading For Those With a 9-5 Job

  • #1,101
  • Jul 3, 2011 6:21pm Jul 3, 2011 6:21pm
Due to the holidays in America trading is likely to be thin with exaggerated moves. Care must be taken when trading. Remember standing aside is also a position - a keep your hard earned cash in your account position

Olu
If you think you can or cannot do it you are correct
  • #1,102
  • Jul 3, 2011 9:13pm Jul 3, 2011 9:13pm
How about this, for those with day jobs. Draw support resistance lines on the hourly or 4hr chart every week. Place orders with stop loss and profit targets and just let it run. I am currently doing this on demo, started a week ago and placed orders for this week as well.
  • #1,103
  • Jul 4, 2011 1:54am Jul 4, 2011 1:54am
Quoting pipexplorer1
How about this, for those with day jobs. Draw support resistance lines on the hourly or 4hr chart every week. Place orders with stop loss and profit targets and just let it run. I am currently doing this on demo, started a week ago and placed orders for this week as well.
Thanks for visiting and contributing to the thread. Can you provide an annotated chart of what you did last week. The idea is worth looking into ...

Olu
If you think you can or cannot do it you are correct
  • #1,104
  • Jul 4, 2011 1:47pm Jul 4, 2011 1:47pm
Quoting Olu
Thanks for visiting and contributing to the thread. Can you provide an annotated chart of what you did last week. The idea is worth looking into ...

Olu
Sure here's a chart of EU. Although these lines are for this week, I am sure most of them were there last week as well. These are support resistance lines I drew on the hourly TF. I then just placed orders on the lines and let them go for the week. I am only doing this on EU and GU just so I can concentrate on just 2 pairs.
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  • #1,105
  • Jul 4, 2011 4:29pm Jul 4, 2011 4:29pm
Quoting Olu
To Golferfx and all

Olu




Thanks BBO !
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  • #1,106
  • Jul 4, 2011 4:33pm Jul 4, 2011 4:33pm
Now...it's back to work !


Good hunting,


golfer
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  • #1,107
  • Jul 4, 2011 5:02pm Jul 4, 2011 5:02pm
Quoting golferfx
Now...it's back to work !


Good hunting,


golfer
Yes its back to work. Now where are those beautiful trends...


Olu
If you think you can or cannot do it you are correct
  • #1,108
  • Jul 5, 2011 7:06am Jul 5, 2011 7:06am
I have uploaded a chart of the eurchf

We appear to be reverting to thr true trend on this pair. Fundamentally this equated to investors still seeing risk concerning the euro.
we already have a candlestick reversal pattern and we wait for the closing of the candle and follow through...

As usual do your own research...

Olu
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If you think you can or cannot do it you are correct
  • #1,109
  • Jul 5, 2011 1:57pm Jul 5, 2011 1:57pm
Quoting Olu
I have uploaded a chart of the eurchf

We appear to be reverting to thr true trend on this pair. Fundamentally this equated to investors still seeing risk concerning the euro.
we already have a candlestick reversal pattern and we wait for the closing of the candle and follow through...

As usual do your own research...

Olu
Market moved almost immediately (Lucky!). Fundamental news came out that portugal's debt has been downgraded some more. Thank you Moody

Olu
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If you think you can or cannot do it you are correct
  • #1,110
  • Jul 5, 2011 3:05pm Jul 5, 2011 3:05pm
I have uploaded a daily candle chart of the dollar index. I have anotated it with my elliott wave interpretation and expectations. I expect the dollar index to rally in a 5 wave advance. This in turn means the euro, aud, cad gbp etc should tank badly.

If I am right, and be warned I have only a rudimentary understanding of elliott, we should not see 73.50 area on the dollar index. Also a close above 76 will confirm the wave three advance

As usual this is only what I am looking at you need to do your own research
Olu
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If you think you can or cannot do it you are correct
  • #1,111
  • Jul 6, 2011 7:33am Jul 6, 2011 7:33am
This pair is testing support at the moment..

Price is below the 100sma
Stochastics is about to cross and turn
Lots of indecision candle pattern
Price trying to make a last ditch attempt not to free fall
Head and shoulder pattern (OK, a rough one at that) targetting 600 pips on a break

Patience is needed...

Daily Chart uploaded
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If you think you can or cannot do it you are correct
  • #1,112
  • Jul 6, 2011 4:36pm Jul 6, 2011 4:36pm
This pair is issuing a sell. This is a funny one because the weekly stoch is crossed up but the monthly one is furmly crossed down. Something has to give
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If you think you can or cannot do it you are correct
  • #1,113
  • Jul 7, 2011 7:51am Jul 7, 2011 7:51am
Find uploaded the weekly chart of the usdjpy with the 5/10EMAs and the RSI(10) on it

My thinking is that this pair will test 85.xx over the coming weeks. And that it might not even take that long to do it. We had an intervention rally then an arduous and time-wasting retracement which respected the 80 level. Now we are going up and it appears it is with momentum. Just check out the hourly chart!

EMAs have crossed (dont forget this is a weekly chart)
RSI is now above the zero lone and heading up
Risk is defined at around the 80 area

It might be up up and away on this pair

As usual your own due dilligence is required and necessary

****NB Cant upload chart due to problems at FF. Will try again soon******

Olu
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If you think you can or cannot do it you are correct
  • #1,114
  • Jul 7, 2011 12:36pm Jul 7, 2011 12:36pm
Here ya go BBO.




good hunting,


golfer
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  • #1,115
  • Jul 7, 2011 7:27pm Jul 7, 2011 7:27pm
I will be staying away from the markets till way after the NFP release. This data will set the tone for the coming week as well.

Olu
If you think you can or cannot do it you are correct
  • #1,116
  • Jul 9, 2011 2:57pm Jul 9, 2011 2:57pm
I rarely comment on a monthly chart. I can safely say that I have never held a trade for a month. Would like to though as long as price is going my way and I already have a lot of pips on my belt

Price is in a superb uptrend but the last 3 candles have been testing the downside. We are resting on an uptrend line now (shown). A break of this downtrend line is bad for hte euro. The stoch has turned down from lofty highs too. However as it stands we have to wait and see what will happen and continue to hold on to the inference that the trend is up until the markets say otherwise. But the implications of a break is eventually 1.18xx area in a few months. Can you hold for that long?

Olu
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If you think you can or cannot do it you are correct
  • #1,117
  • Jul 10, 2011 5:29pm Jul 10, 2011 5:29pm
Looking for a retracement and a bounce off the support line (shown)

I am longer term bearish this pair and would like to aquire a sell from higher up. There are many ways to skin a cat, they say. So we can:-

 

  1. Wait for the retracement and sell it
  2. buy now for a tradeable rise to the sell area and then sell
  3. place a sell stop under the support line

Whichever option is taken due dilligence is necessary.

NB: No animals, especially cats, were harmed in the making of this post

Olu

Attached Image (click to enlarge)
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If you think you can or cannot do it you are correct
  • #1,118
  • Jul 11, 2011 5:38am Jul 11, 2011 5:38am
Quoting Olu
Looking for a retracement and a bounce off the support line (shown)

I am longer term bearish this pair and would like to aquire a sell from higher up. There are many ways to skin a cat, they say. So we can:-

 

  1. Wait for the retracement and sell it
  2. buy now for a tradeable rise to the sell area and then sell
  3. place a sell stop under the support line

Whichever option is taken due dilligence is necessary.

NB: No animals, especially cats, were harmed in the making of this post

Olu

Hearing about an emergency meeting about the euro I didnt want to be buying the euro. Emergency meeting ==> Signs of panic imho.

Olu
If you think you can or cannot do it you are correct
  • #1,119
  • Edited 7:11am Jul 11, 2011 7:09am | Edited 7:11am
Took a short on this pair

Rationale:
Price under the 100ema
Stoch has turned
usdcad rallying
usdjpy going down
long term trend is down
bearish reversal candle confirmed.
Initial target low 81.xx area
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If you think you can or cannot do it you are correct
  • #1,120
  • Jul 11, 2011 3:00pm Jul 11, 2011 3:00pm
Quoting Olu
Took a short on this pair

Rationale:
Price under the 100ema
Stoch has turned
usdcad rallying
usdjpy going down
long term trend is down
bearish reversal candle confirmed.
Initial target low 81.xx area




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