Alright Agro. Welcome to the challenge.
Info added in main post.
You seem to have given it a thought & plan.
Best of luck
100 Fold Challenge -> Interested? TEST yourself
- #182
- Edited 2:44am Nov 14, 2011 12:42am | Edited 2:44am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
EURUSD
Currently price @ 1.3710
IMO,
In MN TF,
Just on the basis of basic pattern charting, one can say, EU is currently in a Bullish flag pattern with base of the pole at 26thOct10. It broke the flag's upper TL "A" on 6thApril11. Kept retesting it from above..multiple times in next many weeks and ultimately price got back in, broke it downside, around 8th Sept11
In W1 TF,
Same MN flag is a downward channel , where price broke back above that TL "A" on 27thOct11 , hit 1.4240's but rejected sharply again to hit last week low of 1.3480's
Within this channel, we had a Bearish Wedge, marked between TL "C" & "E" Trendline, which was broken to downside, on same 8th Sept11 and price hit 1.3140's. We tested this break cleanly, from downside, with 27th Oct11 high's and repelled back down from there.
More Interesting to this chop between bulls and bears is the fact that
Last week is a perfect Bullish Pin/Rejection hammer from lows of 1.3480's.
In D1 TF,
We can see another pattern in pattern analogy.
We have a channel bound between TL "F' & "G". Price broke the lower TL "G" but has sharply moved back up since 10thOct11 (W1 Candle ending 8thOct11 was also a long wick repel from 1.3140's)So now we are PROBABLY going to test that TL "A" from below, once again 
In H4 TF,
We have a clear typical bullish wedge, broken to the upside on friday.
Currently retesting the broken upper TL from above. 200MA also @ 1.3701
That are 2 more IMP reasons why 1.3700 zone is a Buy zone!
On upside,
if it moves above last weeks high and mainly 1.3900's, Price probably is looking for more upside.
1.3960's is a VERY IMP resistance level and so is 1.4000 barrier (200 Weekly MA around the same). Break (esp. an effective one..like a big move up) will screw EU bears big time in coming days & weeks and most probably months.
Buying as low as possible into this week can make an effective R:R position. (with stops below previous weeks low)
1.3700's zone is a good buy area for bulls.
On downside,
if it moves below last week lows of 1.3480's, it would be very bearish & next important support would be TL "B" somewhere around 1.3300.
(There is one more angle to it. If we see that D1 TF Channel, the TL "G" is somewhere around same levels , so price may dip..kiss it & then pop up. But this angle is currently very remote to me as at those levels EU probably will take more dip and try to test break of TL "B" too... & then may be to 1.3100-1.3000's)
Positions:
I have no positions in EURUSD as of now. I may buy soon.
Lets WnWatch
P.S.
- I don't look generally look at monthly more than once a month. I am/will not be such a long TF trader, ever. So generally i don't have any emphasis on my analysis on MN TF and above. ASAT
- Keep track of the IMP euro events, my short TF BIAS, of course, would get affected according to moves based on some more kiddish bickering/statements or news regarding political mess coming out of euro zone.
- As always, every thing is IMO, and everyone is responsible for his/her trading.
- Will try posting USDX (interesting one) and USDCHF charts too, if possible
Currently price @ 1.3710
IMO,
In MN TF,
Just on the basis of basic pattern charting, one can say, EU is currently in a Bullish flag pattern with base of the pole at 26thOct10. It broke the flag's upper TL "A" on 6thApril11. Kept retesting it from above..multiple times in next many weeks and ultimately price got back in, broke it downside, around 8th Sept11
In W1 TF,
Same MN flag is a downward channel , where price broke back above that TL "A" on 27thOct11 , hit 1.4240's but rejected sharply again to hit last week low of 1.3480's
Within this channel, we had a Bearish Wedge, marked between TL "C" & "E" Trendline, which was broken to downside, on same 8th Sept11 and price hit 1.3140's. We tested this break cleanly, from downside, with 27th Oct11 high's and repelled back down from there.
More Interesting to this chop between bulls and bears is the fact that
Last week is a perfect Bullish Pin/Rejection hammer from lows of 1.3480's.
In D1 TF,
We can see another pattern in pattern analogy.
We have a channel bound between TL "F' & "G". Price broke the lower TL "G" but has sharply moved back up since 10thOct11 (W1 Candle ending 8thOct11 was also a long wick repel from 1.3140's)So now we are PROBABLY going to test that TL "A" from below, once again
In H4 TF,
We have a clear typical bullish wedge, broken to the upside on friday.
Currently retesting the broken upper TL from above. 200MA also @ 1.3701
That are 2 more IMP reasons why 1.3700 zone is a Buy zone!
On upside,
if it moves above last weeks high and mainly 1.3900's, Price probably is looking for more upside.
1.3960's is a VERY IMP resistance level and so is 1.4000 barrier (200 Weekly MA around the same). Break (esp. an effective one..like a big move up) will screw EU bears big time in coming days & weeks and most probably months.
Buying as low as possible into this week can make an effective R:R position. (with stops below previous weeks low)
1.3700's zone is a good buy area for bulls.
On downside,
if it moves below last week lows of 1.3480's, it would be very bearish & next important support would be TL "B" somewhere around 1.3300.
(There is one more angle to it. If we see that D1 TF Channel, the TL "G" is somewhere around same levels , so price may dip..kiss it & then pop up. But this angle is currently very remote to me as at those levels EU probably will take more dip and try to test break of TL "B" too... & then may be to 1.3100-1.3000's)
Positions:
I have no positions in EURUSD as of now. I may buy soon.
Lets WnWatch
P.S.
- I don't look generally look at monthly more than once a month. I am/will not be such a long TF trader, ever. So generally i don't have any emphasis on my analysis on MN TF and above. ASAT
- Keep track of the IMP euro events, my short TF BIAS, of course, would get affected according to moves based on some more kiddish bickering/statements or news regarding political mess coming out of euro zone.
- As always, every thing is IMO, and everyone is responsible for his/her trading.
- Will try posting USDX (interesting one) and USDCHF charts too, if possible
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
- #183
- Nov 14, 2011 2:16am Nov 14, 2011 2:16am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
Stopped out at 68 for -25 (-8.3%). Alot more room than I would normally give trades (especially after being 27pips in profit) but had a longer timeframe in mind for this trade and if the level had worked there was a good chance it would have been the low for the week.
Thats it for me today, that was the only level that was interesting me for a monday.
ps Forexsaint, look what you have done. Already got me breaking that no reading others analysis whilst trading rule I told you about. Jeeze
Thats it for me today, that was the only level that was interesting me for a monday.
ps Forexsaint, look what you have done. Already got me breaking that no reading others analysis whilst trading rule I told you about. Jeeze
- #186
- Nov 14, 2011 3:33am Nov 14, 2011 3:33am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
Stopped out at 68 for -25 (-8.3%). Alot more room than I would normally give trades (especially after being 27pips in profit) but had a longer timeframe in mind for this trade and if the level had worked there was a good chance it would have been the low for the week.........
ps Forexsaint, look what you have done. Already got me breaking that no reading others analysis whilst trading rule I told you about. Jeeze
....everything on the first trade itself .That was a long TF analysis and IMO, it still applies,with levels mentioned.
Didn't think u will break ur rules & trade off it. It's interesting that i never entered any long yet in EU...still looking to though
(Also watching USDCHF...my account size is actually a bit small for EURUSD margin ..
)P.S. Readers... no trading calls here. ONLY you are responsible for ur profits/losses.
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
lol. oh yea... i wanted agro to lose
That was a long TF analysis and IMO, it still applies,with levels mentioned.
Didn't think u will break ur rules & trade off it. It's interesting that i never entered any long yet in EU...still looking to though
(Also watching USDCHF...my account size is actually a bit small for EURUSD margin ..
P.S. Readers... no trading calls here. ONLY you are responsible for ur profits/losses.
- #188
- Nov 14, 2011 3:49am Nov 14, 2011 3:49am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
hehe.... in kidding mood here
As you trade in higher TF, you should have held that. (most probably the monday issue...agree)
Any way... agree, me too still looking at EURUSD longs at "as low as possible" level (in my usual trading acc.) & possible USDCHF shorts (more of a SNB shit than USDX these days) for the mammoth 5025000 (/100000) USD sized challenge account
As you trade in higher TF, you should have held that. (most probably the monday issue...agree)
Any way... agree, me too still looking at EURUSD longs at "as low as possible" level (in my usual trading acc.) & possible USDCHF shorts (more of a SNB shit than USDX these days) for the mammoth 5025000 (/100000) USD sized challenge account
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
As you trade in higher TF, you should have held that.
5025000 (/100000) is soon to be 502500000 (/100000). Now that is mammoth! (well alot of zeros there at least)
ps longs have pretty much been invalidated for me now on e/u. Only a big engulf of the last hour bar now could get me back on the train and even then I would not be confident.
- #190
- Nov 14, 2011 4:15am Nov 14, 2011 4:15am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
5025000 (/100000) is soon to be 502500000 (/100000). Now that is mammoth! (well alot of zeros there at least)
(just that my broker should inadvertently add any digit other than "0" before my profits)Gonna make 20 more entries into HOF'TL.. before year ends
No one can stop me now... do you have it in u?
ps longs have pretty much been invalidated for me now on e/u. Only a big engulf of the last hour bar now could get me back on the train and even then I would not be confident.
I am going to bet my ass on eu longs...on this one...LMAO
On a serious note..
yep...i am at least still looking for entries on EURUSD longs and USDCHF shorts!
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
No one can stop me now... do you have it in u?
Signing out now, get an early night, go play some golf tomorrow and maybe a surf (southery buster coming through now, come on Huey) and then settle in for a big week of trading. Jeeze, can't believe midnight is an early night for me now (and a super early one at that), damn trading hours. On the plus side, all my time off is in daylight so alot of golfing and surfing gets done
All the best
- #193
- Nov 14, 2011 1:10pm Nov 14, 2011 1:10pm
Forexsaint, thanks for creating this challenge. I think it is an excellent idea.
Many people would like to believe that a small initial sum of equity can be traded up to 100 times the original value. I am here to (hopefully) show that it can be done, by doing it, and explaining how I do it.
$540 Starting Equity
USD Account Currency
FXCM Broker Name
400:1 Leverage
MyFXBook see MyJournal link in my signature
As you can see (above) my real account equity is far below total deposits.
What I am doing for this challenge is using my current equity ($540) with no open orders and starting today with a new trading plan. My target equity is $55,000 (a 100 fold increase). This is possible with a 20 week plan as below.
I will make a weekly post to this thread to evaluate my real progress compared with my trading plan.
Thanks again to forexsaint for running this challenge. It stands out to me as something on FF that is worth getting involved in.
Many people would like to believe that a small initial sum of equity can be traded up to 100 times the original value. I am here to (hopefully) show that it can be done, by doing it, and explaining how I do it.
$540 Starting Equity
USD Account Currency
FXCM Broker Name
400:1 Leverage
MyFXBook see MyJournal link in my signature
As you can see (above) my real account equity is far below total deposits.
What I am doing for this challenge is using my current equity ($540) with no open orders and starting today with a new trading plan. My target equity is $55,000 (a 100 fold increase). This is possible with a 20 week plan as below.
I will make a weekly post to this thread to evaluate my real progress compared with my trading plan.
Thanks again to forexsaint for running this challenge. It stands out to me as something on FF that is worth getting involved in.
- #195
- Nov 14, 2011 11:13pm Nov 14, 2011 11:13pm
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
i've decided to continue this in my jrnl at FF
and so i will withdraw from fxsaints challenge
Updating the results once a week as screen-shots (or simply a no-hassle tie-up with a online publisher like FF trade explorer) is one the rules, everyone agrees to before participating.
Anyway, Of course, its your choice. Status updated.
$540 Starting Equity
USD Account Currency
FXCM Broker Name
400:1 Leverage
MyFXBook see MyJournal link in my signature
....
Thanks again to forexsaint for running this challenge. It stands out to me as something on FF that is worth getting involved in.
You are good to roll. Good luck with your trading & setup plan
My pleasure that you liked the thread and concept.
Last week's balance dwindled down to $11. Have topped up for attempt 3.
Starting Equity: $100
Currency: AUD
Broker: Go Markets
Leverage: 100:1
Method of publishing: MT4 screenshot/history
Keep it tight. Best of Luck
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
- #197
- Nov 16, 2011 1:08am Nov 16, 2011 1:08am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
Im out!
please update the front page when you have a chance forexsaint.
thankyou for the effort you have put into this and continue to do, i am sure you will show many of us that you can recreate your feats over and over again.
My pleasure that you liked the thread and concept.
Though "showing" is not my aim/purpose, i will always try to recreate things and trade this way... for quite a long time IMO.
Best of luck with your trading.
Regards
@participants
Account update (Attached)
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152
As you wish. Status updated.
My pleasure that you liked the thread and concept.
Though "showing" is not my aim/purpose, i will always try to recreate things and trade this way... for quite a long time IMO.
Best of luck with your trading.
Regards
@participants
Account update (Attached)
- #200
- Nov 16, 2011 2:00am Nov 16, 2011 2:00am
- Joined Jun 2009 | Status: <-That's how u gonna b, in the END! | 1,509 Posts
Looks like your on your way again with that account FS. I just got absolutely punished myself, 3 quick losses for -7.6% in total. Short now from 1.3535 - monetering very very closely
EURCHF retraced too much than expected. (was scaling in.... long more in respect to H1/H4 TF+... at least for those targets in trades for sure..didn't play out)
Dang... closed out ..equity at 29.10 ...its a 29.10USD challenge now
Sorry, make that -16%. Jeeze
100 Fold Challenge->Interested? ->https://www.forexfactory.com/thread/32152