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  • #3,981
  • Feb 7, 2012 3:43pm Feb 7, 2012 3:43pm
x-man

aren't we close to a sell oportunity in the H4 strategy?
  • #3,982
  • Feb 7, 2012 4:38pm Feb 7, 2012 4:38pm
Quoting dcginc
Phx62- A very good trading day for me.....Trade 1 was taken on the TDI cross down, with a 30 pip TP just above the 200 EMA.....if that had been broken, I might have re-entered, base on the strength of PA.
Trade 2 was taken early (before the TDI cross) as PA was rejected at the 200 EMA. I took a chance and opened a standard trade for me with a 50 pip TP & 50 pip SL but as it blew past the first resistance, I moved the SL to BE and the TP to 100, which was right at the H4 trendline....PA...
Xman, Phx62 and dcginc I would like to thank you guys for the time and effort you put into helping us traders get to the point where you are today. It's what makes me get up at 230am ny time to follow the markets and learn.

Dcginc, thanks to Xman iam following your blog and find it very helpful.
  • #3,983
  • Feb 7, 2012 4:48pm Feb 7, 2012 4:48pm
Quoting jasonnevis
Hi dcginc, do you have any references to this concensus that I could read through? Recently I was wondering why the 200ema is the chosen number.

Thanks
"Self-fulfilling Prophecy" ???

Anyway, I use 198, to keep ahead of the crowd, come on down dgcinc !!!

It takes a lot for me to IGNORE you, but you can try.
  • #3,984
  • Feb 7, 2012 11:43pm Feb 7, 2012 11:43pm
Hi, For your Interest, a couple of 4 Hr Trades on my Watchlist. EURAUD and GBPCAD. Need 4 hr GBPCAD 60MA over PA to confirm hopefully in next few Days. Was fortunate to grab 50 Pips 4hr EURCAD on Fri after setting Price under stand out Reversal Candle just after NFP. Haven't traded 1 hour this week as just range bound during the 5 or 6 hours I have avail to me. Depends on how tired I feel, and I DO NOT, repeat DO NOT trade when YOUR sleepy. Forex is hard enough to contend with when your fully awake and you have all your faculties without compounding the issue with sleep deprivation. I missed some nice 1 hr trades in NY session, but you cannot trade 24 hours a day. With both X-Mans Methods there is always a nice trade just around the corner.





9 Years and still Learning.
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  • #3,985
  • Feb 8, 2012 12:07am Feb 8, 2012 12:07am
Sorry, My Chart from Fri. Normally I would of let that run for a couple of hundred pips, but euro pairs were sending out mixed signals, so I grabbed the 50 pips. I left probably 40 pips on the table but next candle vindicated my decision.









9 Years and Still Learning
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  • #3,986
  • Feb 8, 2012 1:13am Feb 8, 2012 1:13am
Quoting migmac
x-man

aren't we close to a sell oportunity in the H4 strategy?
Are you talking about E/U 4H? well if you look closely you will realise that will be against the trend because we on top of the 60EMA.
We might find a retracement today where traders thats in the long position start locking in profits. We can make alil from that move.
Or we can wait for PA to continue the upward move after the retracement because when traders lock in profits PA will go down showing buyers a better price to buy at so then buys add to that position and you will notice a push up.
Thats if we can get enough buyers. If theres not enough buyers then PA wont continue .

Thats how you get the 123 pattern. The 1 and 3 moves are always with the trend while the 2 is the retracement.
X-man the legendary conqueror of markets
  • #3,987
  • Feb 8, 2012 1:39am Feb 8, 2012 1:39am
Hi All,

What do you think for todays London open? I'm thinking a downward tracement as we have already seen a couple of bars have been rejecting price.

Would now be a good time to get in on the pre open bar for a move downward?

What are your thoughts?

Cheers!
  • #3,988
  • Feb 8, 2012 2:04am Feb 8, 2012 2:04am
Do not see anything as of yet
  • #3,989
  • Feb 8, 2012 2:10am Feb 8, 2012 2:10am
Quoting Con
Do not see anything as of yet
Thanks Con, yes not much action at the moment....
  • #3,990
  • Feb 8, 2012 2:30am Feb 8, 2012 2:30am
every body is waiting for a comment or movement
  • #3,991
  • Feb 8, 2012 2:32am Feb 8, 2012 2:32am
your 100% right lazylobster
  • #3,992
  • Feb 8, 2012 2:37am Feb 8, 2012 2:37am
Quote
Hi dcginc, do you have any references to this concensus that I could read through? Recently I was wondering why the 200ema is the chosen number.

It was several months ago and I am embarassed to say I don't actually remember. I think it might have been in Futures Magazine or on CNBC. I was more focused on the blurb that the source.

Quote
"Self-fulfilling Prophecy" ???

Anyway, I use 198, to keep ahead of the crowd, come on down dgcinc !!!

Could be. Just found it interesting that there was any consensus at all. 198 just might be the edge they are all missing!

All the best.

dcginc
  • #3,993
  • Feb 8, 2012 2:38am Feb 8, 2012 2:38am
The suspense is killing me....

Thanks dcginc

All the London boys must have had a big night, last night!
  • #3,994
  • Feb 8, 2012 2:50am Feb 8, 2012 2:50am
EUR/USD

Daily = Bullish possible targets 3500 - 3600 level
4Hr = Bullish nearing overbought on TDI
1Hr - Bullish with Bearish Divergence forming at overbought (68 level)
15M = Double Top with Bearish Divergence

So . . . looking for possible short below support at 3246 on 15M confirmed by candle close on 1 Hr. Or possible long 15M if break above, close above resistance at 3286.

The Euro has been stuck in a 50 pip channel for the last 18 or so hours. So I am going back to sleep and will get ready for NY open unless I get an alert on my smart phone.

Back in a while . . .

dcginc
  • #3,995
  • Feb 8, 2012 2:56am Feb 8, 2012 2:56am
Thanks dcginc,

Didn't even notice the divergence on the 15 and 1 hour till you pointed it out.

Thanks for throwing a dog a bone!
  • #3,996
  • Feb 8, 2012 2:56am Feb 8, 2012 2:56am
There is a potential SHORT trade developing now (8:53 GMT) on EURAUD - looking good...
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  • #3,997
  • Feb 8, 2012 3:18am Feb 8, 2012 3:18am
Quoting ReggieZZ
There is a potential SHORT trade developing now (8:53 GMT) on EURAUD - looking good...
On my chart, EURAUD has broken the daily SHI channel, so no trade for me.
  • #3,998
  • Feb 8, 2012 3:24am Feb 8, 2012 3:24am
managed to scalp 17 points today, pretty slow, have 1 small soldier left running with stop @ b/e....
Keep It Simple Stupid
  • #3,999
  • Feb 8, 2012 3:50am Feb 8, 2012 3:50am
Looking at the 5 min we see an ascending triangle.
It could brake to either side, but probably, a break down is more likely.
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Thoughts are things
  • #4,000
  • Feb 8, 2012 4:06am Feb 8, 2012 4:06am
Quoting Alastair
managed to scalp 17 points today, pretty slow, have 1 small soldier left running with stop @ b/e....
stopped out @ B/E.
1hr cross down on TDI now.
Keep It Simple Stupid
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