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Nearly Naked (Simple Trades)

  • #10,261
  • Oct 3, 2011 6:44am Oct 3, 2011 6:44am
Definitely a personal skills issue of mine - but I was never able (or frankly too interested) to incorporate data & fundies into my trading - I just anticipate their release. But atm it does look like just as a few major instruments (Currencies, Indices, Commodities) are provoking big levels we've got big employment related stuff this week (Wed & Fri) - seems Employment is becoming a hotter button than housing in the U.S.
So you are as always right on - this Week should be Richter scale quality PA
t
"As Kids we believe Anything is Possible; the Trick is to never forget it!"
  • #10,262
  • Edited 7:39am Oct 3, 2011 7:21am | Edited 7:39am
Quoting Saxon
Im getting mixed data from analysts. One moment they are saying we will be seeing 1.3/2 on EU and UCAD to see a retracement, then I refresh my terminal and there are other banks saying that we might see some movements up. Blommberg says one thing, Reuters says another. Making my head spin right
Yes, this week will be a rollercoaster…
Depending on your position the whole week could be both dangerous and generous…

EURUSD
We don’t know where the price is going in long term, neither do it Bloomberg, Reuters and other analytics.
What I know from my charts this morning is today the market is exhausted, and I can grab 100-150 pips going long in next 24-36 hours (short term).
Probability for my northbound scenario is 80%, so it’s worth a try for me, though I am still waiting and hesitating and my final decision is going to be done “manually”. Probably I need another 2,3 hours.
This is the most boring part of trading… WAITING FOR A GOOD ENTRY POINT.

My first today’s scenario is entry LONG @ 1.3310 and exit @ 1.3490, though this can change during a day by observing price on smaller timeframes.
Usually I’m making money on 150-250 pips trades, so it’s a good deal for me.

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Read Charts - Not Papers
  • #10,263
  • Oct 3, 2011 8:44am Oct 3, 2011 8:44am
Morning All

USDCHF is approaching a strong resis zone, 0.9330 and 0.9370 are zones I have chalked up, I am looking for some form of retrace from this area. Then further up 1.00 of course is another very significant supply/demand area to make some pips. Here is my chart.

VP
Attached Image (click to enlarge)
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Nil desperandum
  • #10,264
  • Oct 3, 2011 9:08am Oct 3, 2011 9:08am
I would not be suprised to see the pound continue to gain against the Eur, eyes are on 0.8650 which would be a 38% retrace of the recent low. Check out the history of this price level! I will be attempting to make a few Guineas from here down if the opportunity arises.
Attached Image (click to enlarge)
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Nil desperandum
  • #10,265
  • Oct 3, 2011 9:18am Oct 3, 2011 9:18am
WolfWafe on EURGBP



http://4.bp.blogspot.com/-l1k6_RmoC3...s/s1600/56.png
GREENIUS
  • #10,266
  • Oct 3, 2011 9:33am Oct 3, 2011 9:33am
strong level to pull USDCAD down soon

http://2.bp.blogspot.com/-OBoJG-RVhy...U/s1600/50.png
GREENIUS
  • #10,267
  • Oct 3, 2011 9:52am Oct 3, 2011 9:52am
EU at critical zone and level
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GREENIUS
  • #10,268
  • Oct 3, 2011 10:15am Oct 3, 2011 10:15am
Quoting halkins
My first today’s scenario is entry LONG @ 1.3310 and exit @ 1.3490, though this can change during a day by observing price on smaller timeframes.
Bang! I am shot. My S/L hit... I tried to get LONG at 1.3300
It was consolidating so long at 1.3310.
I thought one step lower would be good entry... S/L hit at 1.3290
Bullish scenario denied. Wondering where it's gonna stop now.
I'll get through your charts guys...

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Read Charts - Not Papers
  • #10,269
  • Oct 3, 2011 10:18am Oct 3, 2011 10:18am
Quoting halkins
Bang! I am shot. My S/L hit... I tried to get LONG at 1.3300
It was consolidating so long at 1.3310.
I thought one step lower would be good entry... S/L hit at 1.3290
Bullish scenario denied. Wondering where it's gonna stop now.
I'll get through your charts guys...

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good luck man
GREENIUS
  • #10,270
  • Oct 3, 2011 2:08pm Oct 3, 2011 2:08pm
EU's getting close
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  • #10,271
  • Oct 3, 2011 2:10pm Oct 3, 2011 2:10pm
looking for the confluence PPZ to the south on AU
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  • #10,272
  • Oct 4, 2011 5:28am Oct 4, 2011 5:28am
Good Morning Traders
11:00am (London)

The EURUSD finally found buyers @t 1.3150 area, which is 161.8 Fibonacci from May-July peaks.
God only knows why it found support at this point, having so many other easier levels to hang on to… !!!???

I am a maniac, I ended up yesterday on stop-loss but I’m still missing ONE corrective movement on its further way down.
This would generate perfect area for taking new SHORT positions on the train to 1.30000.
The price NEVER goes straight line, so this corrective leg is essential.

On the other hand we have loads of breaking news today and tomorrow.
Today ECB, then FED an hour later. We all know what that means
Ha ha, they all can make this day another Mickey Mouse trading day

Attached Image (click to enlarge)
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Read Charts - Not Papers
  • #10,273
  • Oct 4, 2011 4:27pm Oct 4, 2011 4:27pm
(10.30pm LOndon)

Hi Traders
Tough day, heh?
Maybe it sounds awkward, but Tuesday upward movement was nothing else then a perfect confirmation of existing downtrend.
Yes, yes, no mistake.
Every healthy looking trend consists of main impulse legs and retracement.
And this is what we’re going through right now.

I am LONG from 1.31700 entry and I am looking for an exit close to 1.3400, maybe 1.34100 area.
The reason for 1.3400-1.3410 is obvious, it’s upper border of the existing channel, it’s also a congestion of couple important Fibo levels, and it’s also nice psycho level.

As you can see on the chart, Monday price broke through the channel from the downside, but it stayed outside only for 24 hours and returned as quickly as it left. Price returned into the channel and is heading now towards its upper boundary(TARGET1), where I am expecting some kind of consolidation. This is a zone where bears will be looking for perfect area for taking new SHORT positions andawaiting Wednesday ADP Non Farm and ISM News.

Attached Image (click to enlarge)
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Read Charts - Not Papers
  • #10,274
  • Oct 5, 2011 4:19pm Oct 5, 2011 4:19pm
Hi all,
EU is making a channel in H1. Breakout will be be a good chance to make some 100 - 150 pips eitherway. Fundamentally I think shorting will be the way to go, but will wait to short from top of the channel. good luck
Attached Image (click to enlarge)
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Find a job that you love and you dont have to work again in your life.
  • #10,275
  • Oct 5, 2011 8:58pm Oct 5, 2011 8:58pm
Quoting greenius
EU at critical zone and level
great Rejection still the view same for EU
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GREENIUS
  • #10,276
  • Oct 5, 2011 9:10pm Oct 5, 2011 9:10pm
Quoting greenius
strong level to pull USDCAD down soon

http://2.bp.blogspot.com/-OBoJG-RVhy...U/s1600/50.png
250 pip down rejection in case USDCAD still below 1.0659 i am exacting double top before Down trend
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GREENIUS
  • #10,277
  • Oct 5, 2011 9:54pm Oct 5, 2011 9:54pm
Quoting greenius
250 pip down rejection in case USDCAD still below 1.0659 i am exacting double top before Down trend
i WILL be paying attention
  • #10,278
  • Oct 6, 2011 4:44am Oct 6, 2011 4:44am
Price approching support zone and 38.2 febo
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GREENIUS
  • #10,279
  • Oct 6, 2011 4:58am Oct 6, 2011 4:58am
Double Bottom Reversal on EURGBP in case price cross 0.8650 and 4h bar closed above level i will tack long order for 0.8650 after retesting
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GREENIUS
  • #10,280
  • Oct 6, 2011 5:36am Oct 6, 2011 5:36am
Quoting vincentprice
I would not be suprised to see the pound continue to gain against the Eur, eyes are on 0.8650 which would be a 38% retrace of the recent low. Check out the history of this price level! I will be attempting to make a few Guineas from here down if the opportunity arises.
Hi

Update on EURGBP setup I posted a day or two ago.

A new low was made before price retraced so fib levels were adjusted accordingly. As can be seen from the chart price bounced off 0.866 which corresponded with 32.8% and 50% fib retraces and resis. Happy days. . .


VP
Attached Image(s) (click to enlarge)
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Nil desperandum
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