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  • #1,161
  • Jul 27, 2011 7:57am Jul 27, 2011 7:57am
Quoting efeezeefx
Glad we stuck to the rules on this one....we have a general rule to remove POs if not filled 30mins before a major news release. That ruled kept us out of this trade. More better one will come...cheers!

Attachment
That's what discipline gives a trader...

Well done Efe

Olu
If you think you can or cannot do it you are correct
  • #1,162
  • Jul 27, 2011 7:57am Jul 27, 2011 7:57am
Possible shorts:
eurcad
eurjpy
gbpjpy
Crude oil (you need big balls for this one...)
gbpcad

Remember the candles have not closed yet so according to the rules we do nothing

It appears the us$ is gaining strength today hence the failings of the eur and gbp. There are announcements the whole market is waiting for (debt issues in the US) so when an announcement comes a lot of volatility will ensue.

If you can stay out of the markets till Aug2 do so

Olu
If you think you can or cannot do it you are correct
  • #1,163
  • Jul 27, 2011 9:31am Jul 27, 2011 9:31am
Quoting Olu
Short cadjpy
Short eurchf

Olu
cadjpy trade closed at breakeven (fear of intervention)

half of short eurchf taken off and stop moved to be+10

Olu
If you think you can or cannot do it you are correct
  • #1,164
  • Jul 28, 2011 7:37am Jul 28, 2011 7:37am
Quoting Olu
Possible shorts:
eurcad
eurjpy
gbpjpy
Crude oil (you need big balls for this one...)
gbpcad

Remember the candles have not closed yet so according to the rules we do nothing

It appears the us$ is gaining strength today hence the failings of the eur and gbp. There are announcements the whole market is waiting for (debt issues in the US) so when an announcement comes a lot of volatility will ensue.

If you can stay out of the markets till Aug2 do so

Olu
The descent in the eurcad with a target of new lows has started. More can be added when 1.3400 breaks looking for 1.2700 area

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #1,165
  • Jul 28, 2011 7:54am Jul 28, 2011 7:54am
This pair is on the verge of giving the sell signal

Price is under the MA (candle not closed yet!)
Stoch has turned from lofty heights
Uptrend line broken to the downside

Seems bearish...

http://www.forexfactory.com/attachme...1&d=1311857315
If you think you can or cannot do it you are correct
  • #1,166
  • Edited 8:04am Jul 28, 2011 8:00am | Edited 8:04am
short eurgbp

stop @breakeven targeting the spike bottom on chart at first. Will see as we approach that spike whether it is worth leaving.

I must admit one thing though, trader to trader, I am getting more nervous as we approach aug2 because an announcement can come out about the US debt ceiling which will introduce a lot of volatility

Care needs to be taken. Protect whatever profits you have. The forex markets will still be there on aug3

Olu
Attached Image
If you think you can or cannot do it you are correct
  • #1,167
  • Jul 31, 2011 5:40pm Jul 31, 2011 5:40pm
And we still have the US debt ceiling negotiations hanging on the markets. These politicians are playing with fire! There is news though that there might be an agreement that will last till after the elections.

I go into this week short eurgbp...
If you think you can or cannot do it you are correct
  • #1,168
  • Jul 31, 2011 5:57pm Jul 31, 2011 5:57pm
....and I go into the week still short the dollar.



gfx
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  • #1,169
  • Jul 31, 2011 6:39pm Jul 31, 2011 6:39pm
Quoting golferfx
....and I go into the week still short the dollar.

gfx
Wishing you loads of pips GolferFx

I await Aug2 and the results of this brinkmanship. Pres Obama is not having a good time at all

Olu
If you think you can or cannot do it you are correct
  • #1,170
  • Jul 31, 2011 7:57pm Jul 31, 2011 7:57pm
President O has just announced an agreement
If you think you can or cannot do it you are correct
  • #1,171
  • Aug 1, 2011 7:15am Aug 1, 2011 7:15am
Quoting golferfx
....and I go into the week still short the dollar.



gfx
Great strategy and outcome

olu
If you think you can or cannot do it you are correct
  • #1,172
  • Aug 1, 2011 7:21am Aug 1, 2011 7:21am
Quoting Olu

I go into this week short eurgbp...
Didn't quite work out. closed it for -30pips

Olu
If you think you can or cannot do it you are correct
  • #1,173
  • Aug 1, 2011 9:47am Aug 1, 2011 9:47am
Sold the euro...
Attached Image
If you think you can or cannot do it you are correct
  • #1,174
  • Aug 1, 2011 1:43pm Aug 1, 2011 1:43pm
Quoting Olu
Sold the euro...
Good Trade Olu. I shorted the EURO on a 4 hour inside bar last night but unfortunately got stopped out while I was sleeping just before the drop!!!!
Hopefully this will be a good week!
  • #1,175
  • Aug 1, 2011 2:49pm Aug 1, 2011 2:49pm
Quoting DaTrader
Good Trade Olu. I shorted the EURO on a 4 hour inside bar last night but unfortunately got stopped out while I was sleeping just before the drop!!!!
Hopefully this will be a good week!
This was a second attempt for me. The first was stopped out -30. According to my rudimentary elliott analysis I was expecting wave C 5 wave drop to around 1.4150. So in I went 30 pips from the recent high and was stopped out overnight. As I was expecting that drop I sold what I thought was the first signs of weakness. I would have cried like a baby if I didnt follow my trading plan. Cashed out 200pips later. My mentor/friend would have caned me. It just happened that I was able to view some intraday price action today and made some much needed pips as intraday trading is not really my thing anymore

Yes, DaTrader I wish us bucket loads of pips. By the way I believe that 4100 area is a screaming buy for another 5 wave impulsive elliott wave rally but as my mentor says when I say such things 'Let the market speak and then take advantage'

Thanks for your input on this thread DaTrader. Pls dont hesitate to add any useful material to the thread

Olu
If you think you can or cannot do it you are correct
  • #1,176
  • Aug 2, 2011 12:27am Aug 2, 2011 12:27am
MONTHLY BEARISH BAT: Here's a trade for the future.....

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  • #1,177
  • Aug 2, 2011 5:23am Aug 2, 2011 5:23am
Quoting efeezeefx
MONTHLY BEARISH BAT: Here's a trade for the future.....

Attachment
Thanks Efe. I have been looking at this one. If it plays out (I have no signal to enter yet) it would be lovely to behold. I think it might need some intervention though...

Olu
If you think you can or cannot do it you are correct
  • #1,178
  • Aug 2, 2011 5:48am Aug 2, 2011 5:48am
Price under the MA
Stoch has turned
Elliott wave count support

Let's see what it does...

Olu
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If you think you can or cannot do it you are correct
  • #1,179
  • Aug 2, 2011 8:17am Aug 2, 2011 8:17am
Quoting Olu
Price under the MA
Stoch has turned
Elliott wave count support

Let's see what it does...

Olu
HEY Olu,

Was trying to short it yesterday on 1,3740 but was not able to get the enry, missed it for a bit.

Today, if it holds here around 1,3640 I will surely try to buy it...

Lot of weakness in CAD and AUD on the table. EURAUD already long myself.

pin bar can be a son of a bitch
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  • #1,180
  • Edited 1:58pm Aug 2, 2011 1:46pm | Edited 1:58pm
Quoting 21vs7
HEY Olu,

Was trying to short it yesterday on 1,3740 but was not able to get the enry, missed it for a bit.

Today, if it holds here around 1,3640 I will surely try to buy it...

Lot of weakness in CAD and AUD on the table. EURAUD already long myself.

pin bar can be a son of a bitch
This pair ia a nightmare to short and when I saw that pinbar I knew I had my work cut out for me. The chart below show my argument why I think it will go down

First I think we have started a massive wave 5 down on the monthly chart. So that means bearish is the long term direction.
So we ought to have a 5 wave down impulsive structure. Remember this is the big charts not the hourly etc

Come down to the daily chart
The stoch have turned down on the daily chart showing where momentum is heading. I have also drawn a channel on the daily chart and expect price to go down to the bottom of the channel and not break out to the upside
I do not expect to see 3805 anytime soon.

I have also labelled the price movement in the elliott fashion and we are in the 5th wave down. This is an impulse wave but sometimes it is arduous and you just need to hang in there. A sell as close as possible to 3805 would be ideal

Within this channel is an uptrend support line if this is broken if will give credence to my theory of a big fall

That is my argument for a fall

Important Disclaimer: My elliott knowledge is rudimentary but getting better. I do my elliott analysis on longer term charts. Get the longer term count and markers and then wirk from that downwards

Thanks for posting you ideas on the thread. Very insightful. You are welcome to continue to post your thoughts anytime

Olu
Attached Image
If you think you can or cannot do it you are correct
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