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Nearly Naked (Simple Trades)

  • #10,221
  • Sep 26, 2011 2:22pm Sep 26, 2011 2:22pm
Quoting halkins
Here’s a quick review of USDCAD at 11.30am (London)
Monday London session: visible signs of consolidation.
All pairs seem to be tired of last week rally.
The steam has evaporated and lack of momentum seems to draw the pair down to its previous support/resistance area.
[font=Verdana]At 1.0370 we have a congestion of few Fibo levels, Fibo extensions and S/R… and if we won’t be hit by any breaking news, USDCAD should make some...
I follow u on UCAD. I'm sitting waiting for this thing to head south again. RSI has been making sell signals left and right with no follow-through with PA.
GCAD slammed through a strong friction area and looks to be heading back down to SR. Seems like WR1 finally added enough resistance to it.
I am obviously short-biased on XXXCAD, just a matter of when now.
Attached Image (click to enlarge)
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  • #10,222
  • Sep 26, 2011 2:25pm Sep 26, 2011 2:25pm
Here's what i got on GU, hepfully WR1 doesn't keep me from my target
Attached Image(s) (click to enlarge)
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  • #10,223
  • Sep 26, 2011 3:20pm Sep 26, 2011 3:20pm
Quoting Saxon
I follow u on UCAD. I'm sitting waiting for this thing to head south again. RSI has been making sell signals left and right with no follow-through with PA.
GCAD slammed through a strong friction area and looks to be heading back down to SR. Seems like WR1 finally added enough resistance to it.
I am obviously short-biased on XXXCAD, just a matter of when now.
Hi Saxon.
Actually I've already jumped into 4 trades today... AUDUSD, EURCAD, EURNZD and USDCAD with PUT-option strategy.
Got my fingers burning, couldn't wait any longer... ha ha...
But it all went very, very easily this time. I was kicked out once from EURCAD, but it was my fault as I didn't stick to my plan.
As always, closed half of my position after 20, 30 pips, setting up this way all my stop loss orders further away on breakeven.
So now I can rest and I let my trades going.
I am only praying that some news won't break my trades into pieces...
I think the market is still consolidating without a strong move so probably it'll bring oportunities to jump in...

Good luck to you and all "Naked Traders"...
Read Charts - Not Papers
  • #10,224
  • Sep 27, 2011 4:18am Sep 27, 2011 4:18am
Wake up Canadian Bears !!!
Don’t know why USDCAD finds it so difficult to break thru 23,6 Fibonaci @ 1.02300
It’s not a time yet for bears to fall asleep!!!
The pair has formed a strange downtrend channel so as long as price stays in the channel I am favoring downward scenario.
Loads of bulls stop loss orders below 1.02300 so if broken price can quickly move to another Fibo level @ 1.01400

That’s what I hope and pray for….
Cheeerssss…

(30M chart this time)
Attached Image (click to enlarge)
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  • #10,225
  • Sep 27, 2011 6:12am Sep 27, 2011 6:12am
Hi Traders
Quick update @ 12pm(London)
This morning EURUSD has found itself in a small upward channel.
This pair awaits stronger momentum and fuel to be kicked out of the channel.
I think the solution may come with today’s Consumer Confidence @ 3pm(London)
I hope it will kick the price above 1.3600
Here's 30M chart

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.jpg Size: 134 KB
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  • #10,226
  • Sep 27, 2011 10:55am Sep 27, 2011 10:55am
Anyone know where I can get streaming Oil Prices/Charts ?
  • #10,227
  • Sep 27, 2011 1:09pm Sep 27, 2011 1:09pm
Hi Sax, I have used Tradestation and Thinkorswim. For a free source though here are a couple which I haven't checked out personally as I don't trade on a MT4 platform. But I would presume they may/do on Demo:
http://www.gcitrading.com/
http://www.brocompany.com/
https://www.fxprimus.com/?splash=2

t


Quoting Saxon
Anyone know where I can get streaming Oil Prices/Charts ?
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #10,228
  • Sep 27, 2011 1:20pm Sep 27, 2011 1:20pm
Have a demo here MT4 friendly.. Oil (brent) and Major crosses index.

http://www.liteforex.com/


Quoting Saxon
Anyone know where I can get streaming Oil Prices/Charts ?
  • #10,229
  • Sep 27, 2011 2:03pm Sep 27, 2011 2:03pm
Tks guys. I'll check em all out
  • #10,230
  • Sep 28, 2011 8:52am Sep 28, 2011 8:52am
What im watching on AU
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  • #10,231
  • Sep 28, 2011 8:55am Sep 28, 2011 8:55am
two targets on NU. that AU also had a WR1 confluence
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  • #10,232
  • Sep 28, 2011 9:04am Sep 28, 2011 9:04am
Quoting Saxon
What im watching on AU
Hi Saxon
Do you have any suggestions on your ENTRY... ???
Well, I was in a LONG trade form 0.97100 but now I closed my trade at 0.99150
I can't see any momentum, got little frightened of this morning pullback and went out.
Still hesitating if that was a good decision as initially my final target was as far as @ 1.01500
I rolled out with 2% profits and I am happy with that, but makes me feel really bad to get out too early

-
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  • #10,233
  • Sep 28, 2011 9:13am Sep 28, 2011 9:13am
My entry would probably be right on the WR1 @ 1.01709
My SL would be wide as AU and NU as well as Yen pairs have been taking a while to slow momentum.
  • #10,234
  • Sep 28, 2011 9:25am Sep 28, 2011 9:25am
Quoting Saxon
My entry would probably be right on the WR1 @ 1.01709
My SL would be wide as AU and NU as well as Yen pairs have been taking a while to slow momentum.
Oh... so you want to go SHORT on WR1.
I was rather thinking of keeping my LONG position and EXIT on WR1.
For now, I can't see any solid direction.
It looks like it does want to retest 0.9650 again - heading towards this area.
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  • #10,235
  • Sep 28, 2011 12:20pm Sep 28, 2011 12:20pm
Here’s a quick review of one of my Monday trades I posted here and its results. Good lesson.

Ooooops, I did it again.
Don’t let the wining trade turn into a looser… ha ha, easy to say
Well, I ended up with 0.80% profit on EURNZD so I didn’t loose.

I perfectly entered SHORT yesterday at 1.7500 and slid down to 1.7100.
Pretty nice profit 2.20% wasn’t enough for me.
I was expecting yet deeper draw down to 1.7000.
After price hit 38.2 Fibonacci at 1.7100 it began its way up and didn’t even think to stop and reverse. My trailing stop loss was hit… Bang!
I hope some of you cashed out at 1.7100, it was worth anyway…

Attached Image (click to enlarge)
Click to Enlarge Name: EURNZD.jpg Size: 120 KB
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  • #10,236
  • Sep 28, 2011 2:38pm Sep 28, 2011 2:38pm
Quoting halkins
Here’s a quick review of one of my Monday trades I posted here and its results. Good lesson.

Ooooops, I did it again.
Don’t let the wining trade turn into a looser… ha ha, easy to say
Well, I ended up with 0.80% profit on EURNZD so I didn’t loose.

I perfectly entered SHORT yesterday at 1.7500 and slid down to 1.7100.
Pretty nice profit 2.20% wasn’t enough for me.
I was expecting yet deeper draw down to 1.7000.
[font=Verdana]After...
No worries
At least you stayed in the green
  • #10,237
  • Sep 28, 2011 2:40pm Sep 28, 2011 2:40pm
Here is a good EUR P&F chart to give you an idea of SR on EU
Attached Image (click to enlarge)
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  • #10,238
  • Sep 28, 2011 4:36pm Sep 28, 2011 4:36pm
I was just looking at the dollar index chart and saw this. Nice break of TL pull back and could take off now. Considering the EU content in USDIX, eu could fall much further.
Attached File(s)
File Type: pdf usdindex.pdf   22 KB | 280 downloads
Find a job that you love and you dont have to work again in your life.
  • #10,239
  • Sep 28, 2011 4:59pm Sep 28, 2011 4:59pm
Well I had to close my USDCAD short position with small profits.
The situation on USDCAD has changed dramatically over last 12 hours.
I was expecting last south leg as corrective movement, though the retracement turned out to be very shallow.
The price moved back only to 38.20 Fibo which confirms only how strong are bulls on USDCAD.
Now price is heading towards resistance @ 1.0400 and if broken I think we can see price jumping up to 1.0750 where there’s another strong S/R and Fibo area.
If 1.0400 sustain intact we'll have a nice double top.
Does anybody know why CAD weakened so much???

Here's new scenario if 1.0400 breaks

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 103 KB
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  • #10,240
  • Sep 28, 2011 9:17pm Sep 28, 2011 9:17pm
Quoting halkins
Well I had to close my USDCAD short position with small profits.
The situation on USDCAD has changed dramatically over last 12 hours.
I was expecting last south leg as corrective movement, though the retracement turned out to be very shallow.
The price moved back only to 38.20 Fibo which confirms only how strong are bulls on USDCAD.
[font=Verdana]Now price is heading towards resistance @ 1.0400 and if broken I think we can see price jumping up to 1.0750 where there’s another...

hello good looking and view but USDCAD will go now sideway for somw time to have strong news to change trend
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