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Price is everything

  • #25,801
  • Dec 20, 2011 12:15pm Dec 20, 2011 12:15pm
[quote=bbakker;5237045]...[quote]

Nice educational post! You should be trading fulltime with those skills
  • #25,802
  • Dec 20, 2011 12:24pm Dec 20, 2011 12:24pm
Good arrival
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  • #25,803
  • Dec 20, 2011 12:26pm Dec 20, 2011 12:26pm
Quoting flytox
GU Added 1 now 2/2, same tg
GU and AU to monitor closely.
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Rien ne sert de courir il faut partir à point.
  • #25,804
  • Dec 20, 2011 12:30pm Dec 20, 2011 12:30pm
Quoting bbakker
Quote
You got in at a better price, but an Eskimo trade nonetheless

@frankkn

hey cool, how could you made same entry with Brian?
lolz
same vision, same result

Glory PA traders
I love PIE and RTP
  • #25,805
  • Dec 20, 2011 12:32pm Dec 20, 2011 12:32pm
Quoting flytox
Be careful
seems to me that DX beginning a compression to the demand on H4.
good news no compression developing on H4
Rien ne sert de courir il faut partir à point.
  • #25,806
  • Dec 20, 2011 12:38pm Dec 20, 2011 12:38pm
Quoting bbakker
It is very difficult for me to post charts during the day while I am at work, but as everyone has now left, here is my EU scalp.

Attachment

Took a long based on the facts -

1. Nice rally from this demand level around NY open and US news release
2. Nice entry back into this demand level
3. With the immediate bullish trend
4. A new HH made on the lower timeframes and pre-empting it would make a HL at this level
5. Nice R/R ratio (SL was at 1.3058) but I have already taken 50% off and put the rest to BE with final TG in place.

Checklist...
HI Bbaker,
nice chart, how do you use the MAs and the indy at the bottom.
Rien ne sert de courir il faut partir à point.
  • #25,807
  • Dec 20, 2011 12:44pm Dec 20, 2011 12:44pm
What is an Eskimo trade?
  • #25,808
  • Dec 20, 2011 12:50pm Dec 20, 2011 12:50pm
Quoting shadowthecat
What is an Eskimo trade?
probably an easy trade like a rebounce from a demand, but not sure.
Rien ne sert de courir il faut partir à point.
  • #25,809
  • Dec 20, 2011 12:59pm Dec 20, 2011 12:59pm
thx Flytox
  • #25,810
  • Dec 20, 2011 1:02pm Dec 20, 2011 1:02pm
Quoting frankkn
Good arrival
Out at break even, /cl is at M15 supply and it's taking longer than I'd like. Time to call it a day (till Tokyo)
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  • #25,811
  • Dec 20, 2011 1:04pm Dec 20, 2011 1:04pm
Quoting flytox
GU and AU to monitor closely.
Hey Mitch,
I am locked at BE+ on 3 shorts; EU, GU and AU
tg respectively: 1.3040; 1.5640; and 1.0056 (hard TP).
Don't forget the second shoulder of the big EU head.
I am done.
Good trades to all.
Rien ne sert de courir il faut partir à point.
  • #25,812
  • Dec 20, 2011 1:04pm Dec 20, 2011 1:04pm
Quoting shadowthecat
What is an Eskimo trade?
When two males acknowledge having been intimate with the same female and remain on good terms, the men are now bonded by having shared the same igloo at one time or another.

http://www.urbandictionary.com/defin...kimo%20Brother
  • #25,813
  • Dec 20, 2011 1:07pm Dec 20, 2011 1:07pm
Quoting frankkn
When two males acknowledge having been intimate with the same female and remain on good terms, the men are now bonded by having shared the same igloo at one time or another.

http://www.urbandictionary.com/defin...kimo%20Brother
Nice,
good trades Frankkn.
Rien ne sert de courir il faut partir à point.
  • #25,814
  • Dec 20, 2011 1:07pm Dec 20, 2011 1:07pm
Quoting frankkn
When two males acknowledge having been intimate with the same female and remain on good terms, the men are now bonded by having shared the same igloo at one time or another.

http://www.urbandictionary.com/defin...kimo%20Brother
hey nice explaination there...
haaaaaaaahahaha
(laughing)
I love PIE and RTP
  • #25,815
  • Dec 20, 2011 1:08pm Dec 20, 2011 1:08pm
Guess who snuck up and took this trade out at break even

Thanks guys
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  • #25,816
  • Dec 20, 2011 1:16pm Dec 20, 2011 1:16pm
Quoting flytox
Hey Mitch,
I am locked at BE+ on 3 shorts; EU, GU and AU
tg respectively: 1.3040; 1.5640; and 1.0056 (hard TP).
Don't forget the second shoulder of the big EU head.
I am done.
Good trades to all.
Have my TL to monitor for stops.

Aiming for ~1.3040 too. (1.3043 Last day high and last week close)
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  • #25,817
  • Dec 20, 2011 1:37pm Dec 20, 2011 1:37pm
Quoting frankkn
Guess who snuck up and took this trade out at break even

Thanks guys
I am still in mine. At BE, I have nothing to lose. Indeed it does look like a H&S pattern, the most recognised pattern in trading. Patterns also fail... why? For me there are two reasons -

1. Too obvious and all novice traders tend to go for this play, while the big boys are salivating at the thought of all those stops.
2. H&S patterns are more reliable in equities than forex.

This does not mean that this H&S pattern will fail, but do I care... why should I... I am in a free trade and my target is set.
  • #25,818
  • Dec 20, 2011 1:46pm Dec 20, 2011 1:46pm
Quoting flytox
HI Bbaker,
nice chart, how do you use the MAs and the indy at the bottom.
They are all for confluence. First and foremost, supply and demand levels based on price action. The CCI indicator is a simple overbought/oversold indicator, nothing more, nothing less. If below -100 it is oversold and if above +100 it is overbought.

MAs, like trendlines are support and resistance, but they are dynamic. Magix is an FF member that taught me all about MAs and The Doc taught me about the MA expansion/contraction. Think of it as a rubber band... the further away price moves from the MA, the more chance it has of snapping back, a bit like Bollinger Bands. When price moves significantly out of the Bollinger Bands, it will snap back.

I will state again that all these extra technical analysis tools are only used for confluence. The more confluences you can see, the higher the probability of the trade working for you.
  • #25,819
  • Dec 20, 2011 1:47pm Dec 20, 2011 1:47pm
Quoting bbakker
They are all for confluence. First and foremost, supply and demand levels based on price action. The CCI indicator is a simple overbought/oversold indicator, nothing more, nothing less. If below -100 it is oversold and if above +100 it is overbought.

MAs, like trendlines are support and resistance, but they are dynamic. Magix is an FF member that taught me all about MAs and The Doc taught me about the MA expansion/contraction. Think of it as a rubber band... the further away price moves from the MA, the more chance it has of snapping back, a...

That is the beauty of currencies. They are generally a mean reverting market.
  • #25,820
  • Dec 20, 2011 1:59pm Dec 20, 2011 1:59pm
Quoting Venice
That is the beauty of currencies. They are generally a mean reverting market.
Yep... spot on Mr V.
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