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Daily Chart w/ 10sma

  • #261
  • Jan 30, 2012 9:33pm Jan 30, 2012 9:33pm
AUDJPY has opened below the 10 SMA on dailies today.

Is it a valid signal. Should we enter short?

Would appreciate a view on this attached chart

DD
Attached Image (click to enlarge)
Click to Enlarge Name: audjpy 31jan.gif Size: 27 KB
  • #262
  • Jan 30, 2012 10:29pm Jan 30, 2012 10:29pm
Quoting Dildubai
AUDJPY has opened below the 10 SMA on dailies today.

Is it a valid signal. Should we enter short?

Would appreciate a view on this attached chart

DD

indeed, it looks like a valid short.
  • #263
  • Jan 31, 2012 11:43am Jan 31, 2012 11:43am
Just got short the EURGBP off the daily chart, cross of 10sma, trendline break. Stop above the resistance @ .8450
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.jpg Size: 159 KB
  • #264
  • Jan 31, 2012 1:20pm Jan 31, 2012 1:20pm
Quoting jmpforex
Just got short the EURGBP off the daily chart, cross of 10sma, trendline break. Stop above the resistance @ .8450
That is not my favorite pair to trade but I see your point on entry. Good luck!!
Please ask questions and share your experiences with us all!
  • #265
  • Jan 31, 2012 1:25pm Jan 31, 2012 1:25pm
Quoting Dildubai
AUDJPY has opened below the 10 SMA on dailies today.

Is it a valid signal. Should we enter short?

Would appreciate a view on this attached chart

DD
personally I would be looking for a long position here....too near support area,just my opinion
  • #266
  • Jan 31, 2012 1:29pm Jan 31, 2012 1:29pm
Went short eur/jpy this morning.Cross below 10sma and definetly in a downtrend. S/L is already locked in +5
Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy0131.gif Size: 23 KB
Please ask questions and share your experiences with us all!
  • #267
  • Edited 2:55pm Jan 31, 2012 2:42pm | Edited 2:55pm
Quoting bkg102665
Went short eur/jpy this morning.Cross below 10sma and definetly in a downtrend. S/L is already locked in +5
Hi BKG, which is the initial SL you usually use when you enter a trade bejore moving it to BE? Do you use LR/LS like a reference or is just defined by your Money Management?

I hope you understand my question, English is not my native language...

Thanks.
Greg.
  • #268
  • Jan 31, 2012 5:31pm Jan 31, 2012 5:31pm
Quoting gregofx
Hi BKG, which is the initial SL you usually use when you enter a trade bejore moving it to BE? Do you use LR/LS like a reference or is just defined by your Money Management?

I hope you understand my question, English is not my native language...

Thanks.
Greg.
It is smart to put an initial s/l of 200 pips just in case something crazy happens while we are sleeping. I mostly use previous support and resistance areas as my s/l location.
Please ask questions and share your experiences with us all!
  • #269
  • Jan 31, 2012 5:46pm Jan 31, 2012 5:46pm
Quoting bkg102665
Went short eur/jpy this morning.Cross below 10sma and definetly in a downtrend. S/L is already locked in +5
from the chart you meant you short one day earlier? you are profiting by a (yesterday) candle?
  • #270
  • Jan 31, 2012 6:35pm Jan 31, 2012 6:35pm
Quoting Dildubai
AUDJPY has opened below the 10 SMA on dailies today.

Is it a valid signal. Should we enter short?

Would appreciate a view on this attached chart

DD
It is a valid short imho

Olu
If you think you can or cannot do it you are correct
  • #271
  • Feb 1, 2012 1:04am Feb 1, 2012 1:04am
Hello friends,

Been watching this strategy for a while and used it on demo with some success.

Finally took the plunge today. Short at 1.3102

EURCAD opened below the 10 SMA. Price is below the 20 day high (green horizontal line).

Here is the attached screen shot.

Please do advise if anyone thinks it might be a bad/wrong trade to enter..

DD
Attached Image (click to enlarge)
Click to Enlarge Name: eurcadfeb1.gif Size: 18 KB
  • #272
  • Feb 1, 2012 7:09am Feb 1, 2012 7:09am
Quoting bkg102665
Went short eur/jpy this morning.Cross below 10sma and definetly in a downtrend. S/L is already locked in +5
Stop got hit!! Still got +5 though, on to the next trade please.
Please ask questions and share your experiences with us all!
  • #273
  • Feb 1, 2012 12:01pm Feb 1, 2012 12:01pm
Short EURAUD on 10sma cx, trendline brk, stop above resistance @ 1.255
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 132 KB
  • #274
  • Feb 1, 2012 3:42pm Feb 1, 2012 3:42pm
Quoting bkg102665
Stop got hit!! Still got +5 though, on to the next trade please.
Hi bkg102665,

I am a newbie and following your thread with great interest. In your previous postings you mentioned that the initial SL is either to be set at 200 pips, or as you do most, to place it in the previous S/R areas. However, it seems that you had changed the SL to +5 before it got hit. What is the reason/rational behind such move? I am a learner, so your answer would be greatly appreciated.

Cheers!...
To excel by continuous learning
  • #275
  • Feb 1, 2012 5:14pm Feb 1, 2012 5:14pm
Quoting PeepCzar
Hi bkg102665,

I am a newbie and following your thread with great interest. In your previous postings you mentioned that the initial SL is either to be set at 200 pips, or as you do most, to place it in the previous S/R areas. However, it seems that you had changed the SL to +5 before it got hit. What is the reason/rational behind such move? I am a learner, so your answer would be greatly appreciated.

Cheers!...
Good question! I will always move my s/l to +5 once I am up in a trade somewhere between 60 and 100 pips. As a young trader my advise would be to never let a winning trade turn into a loser. Once you are up you need to look at moving your s/l to atleast +1 or more so the trade does not turn into a loser as I said before. Once you lock your s/l in positive pips the trade becomes stress free and there is no way you can loose. You can walk away and know it is a winning trade. It allows you to concentrate on your next possible trade setup.
Please ask questions and share your experiences with us all!
  • #276
  • Feb 1, 2012 5:55pm Feb 1, 2012 5:55pm
hi bkg

if you see the candle in e-j w1 .... was a risk to enter buy
Attached Image (click to enlarge)
Click to Enlarge Name: engulfing.-.gif Size: 34 KB
  • #277
  • Feb 1, 2012 5:58pm Feb 1, 2012 5:58pm
I'm sorry, I'm wrong ....
This is the image of w1

oversold, divergence and candle engulinfg
Attached Image (click to enlarge)
Click to Enlarge Name: engulfing.gif Size: 30 KB
  • #278
  • Feb 1, 2012 7:48pm Feb 1, 2012 7:48pm
Quoting bkg102665
Good question! I will always move my s/l to +5 once I am up in a trade somewhere between 60 and 100 pips.
Are you implying to use 60-100 pips trailing SL? I pose this question to you because for newbie the correct placement of SL is a real challenge.

Thanks in advance for your reply... http://www.forexfactory.com/images/icons/icon7.gif
To excel by continuous learning
  • #279
  • Feb 1, 2012 8:12pm Feb 1, 2012 8:12pm
Quoting PeepCzar
Are you implying to use 60-100 pips trailing SL? I pose this question to you because for newbie the correct placement of SL is a real challenge.

Thanks in advance for your reply... http://www.forexfactory.com/images/icons/icon7.gif
No I never use a trailing stop. When you put you s/l to a positive +1 or +5 let it run to the next area of support or resistance. These trades will very often get you 300, 500, sometimes even 1000 pips but it may take a week even up to a month to get there,
Please ask questions and share your experiences with us all!
  • #280
  • Feb 1, 2012 8:15pm Feb 1, 2012 8:15pm
Quoting porfirio
I'm sorry, I'm wrong ....
This is the image of w1

oversold, divergence and candle engulinfg
I am not doubting your thought process but I rarely look at anything other than a daily chart. It is just the way I trade. I made 5 pips so I am happy and I will move to next trade. We all trade different so if weekly charts help you I encourage you to use them.
Please ask questions and share your experiences with us all!
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