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High velocity trading

  • #1,221
  • Oct 11, 2011 6:56am Oct 11, 2011 6:56am
http://img510.imageshack.us/img510/5...3011102011.png
  • #1,222
  • Oct 11, 2011 7:02am Oct 11, 2011 7:02am
The above is AUDUSD M30. Shi channel params are 1440/240

1) You have to put in the red TL on your own
2) We are at the channel top
3) We are above WP
4) We can go both up and down
5) Need to watch for triangle break out now
6) I personally prefer downside target. Highlighted the possible entry
7) However, 1.0020 is also a monthly pivot
8) Break above MP ---> LONG trade
9) What is the TP if we break MP?
10) You use AWR to find possible TP.
11) AU AWR is 400
12) Week low is 9750
13) 9750 + 400 = 1.150
14) What does that mean?
15) Break above MP - TP = 1.150
16) TL break to the downside TP = 9680
  • #1,223
  • Oct 11, 2011 7:03am Oct 11, 2011 7:03am
hope this helps!
  • #1,224
  • Oct 11, 2011 7:18am Oct 11, 2011 7:18am
http://img265.imageshack.us/img265/9...4111020112.png

Doing HTF H4 analysis on EU you can see that we are pretty much at crossroads right now. 3540-3560 and break below ---> meaning more downside with initial targets @ 3100-3200.

Break above MP @ 3711 means more upside, probably capped initially by 3880-3920 and then 4000-4060 (MR1).

So though myself I prefer downside scenario, pretty much it's undecided yet.
  • #1,225
  • Oct 11, 2011 7:20am Oct 11, 2011 7:20am
RISK WISE on EU AWR downside beats upside two to one, however AMR (monthly) upside beats downside two to one. So interesting for sure.
  • #1,226
  • Oct 11, 2011 7:26am Oct 11, 2011 7:26am
trying to understand this stuff
will take some time

Thanks for your effort
  • #1,227
  • Oct 11, 2011 7:29am Oct 11, 2011 7:29am
currently there is a possible setup to short sell GOLD below 1653. Setup is based on TL break. TP probably 36-38 if you decide to give it a shot.
  • #1,228
  • Oct 11, 2011 7:32am Oct 11, 2011 7:32am
Quoting jaimini
trying to understand this stuff
will take some time

Thanks for your effort
The setups usually are pretty easy to spot. It's just that right now market situation is a little complicated. For much easier charts/explanation see post number one of this thread.

The best setups are technical confluence of WP rejection with TL rejection, or WP break with TL support early into the week.
  • #1,229
  • Oct 11, 2011 7:36am Oct 11, 2011 7:36am
Quoting ruffryders
currently there is a possible setup to short sell GOLD below 1653. Setup is based on TL break. TP probably 36-38 if you decide to give it a shot.
http://img818.imageshack.us/img818/4...1110201123.png


That's what I mean on GOLD.
  • #1,230
  • Oct 11, 2011 7:39am Oct 11, 2011 7:39am
Quoting ruffryders
http://img846.imageshack.us/img846/5...1111020111.png

Steve in this market we want to be buyers, however buying only bottom of the daily range 40-44 seems a good area to look for reversal signals on M15-M30 and then enter LONG!
If you short sell GOLD now, don't forget to buy it back though.
  • #1,231
  • Oct 11, 2011 7:44am Oct 11, 2011 7:44am
I can't find any recent threads of Azim's........


Quoting ruffryders
I actually got a full-time job. The deal is that I'm more interested in someone actually applying instead of just taking trades.. Way back @ Moneytec there was a nice group of contrarian traders, and it was interesting and refreshing to be a part of that group. I posted live calls there for a few years too.

Here @ FF I only follow 2 threads. Azim's and the one on Gold (which is full of boasting and ranting, ). Both threads are very good.
  • #1,232
  • Oct 11, 2011 7:47am Oct 11, 2011 7:47am
GU looking to short sell @ 5560-80 SL 20 TP @ 5490 (WP).

trade based on probable M30 TL break.
  • #1,233
  • Oct 11, 2011 7:57am Oct 11, 2011 7:57am
GOLD TL is stubborn and doesn't want to give way easily.
  • #1,234
  • Edited 8:24am Oct 11, 2011 8:10am | Edited 8:24am
Quoting ruffryders
good to know that. Hang in there. Meanwhile reduce your exposure (lots), tighten your SL and don't overtrade. On currencies I advise 10-20 pips SL regardless of the currency pair. If the trade is properly picked this SL will be good, if the ENTRY is WRONG you will loose a lot regardless.

So one rule I follow all the time - using a very tight SL. Basically the trade needs to run my direction upon being triggered.

On GOLD SL is up to 500 points (5 dollars). But reduce lots and exposure. Be aware of psycho levels on gold - they are 00 25 50...
It's impossible to reduce to smaller lots, the minimum for trader is 10oz. Using tight SL is going very wrong, i seem to pick the exact time where the price on the sudden goes up very quickly and then... down, following the normal trend, leaving me with nothing but lost money. Even today, i entered SHORT, price goes up, triggers the STOP, then DOWN...

It's very frustrating, it happens a lot of times...the more i fail, more fear i have to trade and the good moves i left behind.
  • #1,235
  • Oct 11, 2011 8:32am Oct 11, 2011 8:32am
Quoting ruffryders
GOLD TL is stubborn and doesn't want to give way easily.
yes i observe this as well.
what about going long after 1965
  • #1,236
  • Oct 11, 2011 8:37am Oct 11, 2011 8:37am
Quoting jaimini
yes i observe this as well.
what about going long after 1965
personally I don't like this idea. I'd prefer to sit it out, and get in LONG closer to WP or look for a break above QP (75 area) for a possible test of MP (92).

THe PA is weird, I don't see a clear signal to go LONG yet.
  • #1,237
  • Oct 11, 2011 8:38am Oct 11, 2011 8:38am
Quoting dnvg
It's impossible to reduce to smaller lots, the minimum for trader is 10oz. Using tight SL is going very wrong, i seem to pick the exact time where the price on the sudden goes up very quickly and then... down, following the normal trend, leaving me with nothing but lost money. Even today, i entered SHORT, price goes up, triggers the STOP, then DOWN...

It's very frustrating, it happens a lot of times...the more i fail, more fear i have to trade and the good moves i left behind.
DNVG what's yout trading equity?
  • #1,238
  • Oct 11, 2011 8:47am Oct 11, 2011 8:47am
before I leave the office guys, make sure you look for entries (LONG) once PA reached highlighted area. Im standing aside myself, until price arrives in my designated buying area.

see you tmrw!

http://img846.imageshack.us/img846/5...1111020111.png
  • #1,239
  • Oct 11, 2011 8:53am Oct 11, 2011 8:53am
Quoting ruffryders
DNVG what's yout trading equity?
Do you mean the leverage? Maximum 1:100 for broker, i use 1:10 normally.
  • #1,240
  • Oct 11, 2011 9:01am Oct 11, 2011 9:01am
Quoting dnvg
Do you mean the leverage? Maximum 1:100 for broker, i use 1:10 normally.
yeah that's cool just reduce your leverage then. The deal is that you need to decrease your exposure. or increase your equity value (how much you got in the account!).
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