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Low stress swing trading with momentum

  • #261
  • Feb 8, 2012 6:54am Feb 8, 2012 6:54am
Quoting damonl
WTF dude, you are roclin' the house here. Nice job pipin' here lately! It looks like u got them all back. Kudus to you

What do you think about short eurcad right now? I am not sure. It looks like price action is crossing the price zone . (Used them .) First is was below it, than above it, then below, than above, and below it and above it again. All upward jumps have produced lower highs

I went short earlier per my rules and normally would have taken the loss, but seeing this newer info, decided to stay in and open up a second...

TY

Finally broke out on my rangebound account equity graph My equity chart looked like a forex chart.... parabolic rally, dump, then rangebound LOL. 4 hr charts are a bit more work but not overwhelming me. This is working nicely so far, hopefully I can keep this momentum up.

I was stopped out on this pair last night. It's right up by an old supply zone on the H4 and daily. I think it may go a leg higher on the "hopium" in the markets right now for a Greek deal.

If I took this area I would set the SL about 1.3247 - 1.3250

Be careful.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcadd1.jpg Size: 84 KB


Attached Image (click to enlarge)
Click to Enlarge Name: eurcadh4.jpg Size: 102 KB
I don't care which way the market is going as long as it's going my way
  • #262
  • Edited 3:22pm Feb 8, 2012 3:05pm | Edited 3:22pm
Right, it does look like it may break out. But, it may have also just went from one range to another. Which is alright with me, as I can build up many pips in a range !

For right now I am keeping my shorts on, and I think others will be thankful for that as well .

I think I will risk a frew more pips amd see what happens, as we are right below the the junction of a horizontal and angle trendline.

Will it have enough to bust a move?

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 26 KB





Quoting PipKiller
TY

Finally broke out on my rangebound account equity graph My equity chart looked like a forex chart.... parabolic rally, dump, then rangebound LOL. 4 hr charts are a bit more work but not overwhelming me. This is working nicely so far, hopefully I can keep this momentum up.

I was stopped out on this pair last night. It's right up by an old supply zone on the H4 and daily. I think it may go a leg higher on the "hopium" in the markets right now for a Greek deal.

If I took this area I would set the SL about 1.3247 - 1.3250

Be careful....
"Keep your eyes on the helpers" - Mr. Rogers
  • #263
  • Feb 8, 2012 3:57pm Feb 8, 2012 3:57pm
Here is the same chart with some more detail. Definitely something to watch tonight.

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 28 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #264
  • Feb 8, 2012 5:34pm Feb 8, 2012 5:34pm
Quoting damonl
Right, it does look like it may break out. But, it may have also just went from one range to another. Which is alright with me, as I can build up many pips in a range !

For right now I am keeping my shorts on, and I think others will be thankful for that as well .
I certainly hope you keep your shorts on

If it breaks below the current range it's stuck in you might want to consider pulling that lower piece at the breakout range I highlighted or as soon as it hits BE. It'wouldn't surprise me to see a bounce off that level.

If it get's through the highlighted area, I'll probably be waiting for it at the zones below

Attached Image (click to enlarge)
Click to Enlarge Name: eurcadh4a.jpg Size: 89 KB
I don't care which way the market is going as long as it's going my way
  • #265
  • Feb 8, 2012 6:10pm Feb 8, 2012 6:10pm
Yea, I would think that my shorts will be coming off right about the spot of your pink box and from there I will be looking to take her long

Quoting PipKiller
I certainly hope you keep your shorts on

If it breaks below the current range it's stuck in you might want to consider pulling that lower piece at the breakout range I highlighted or as soon as it hits BE. It'wouldn't surprise me to see a bounce off that level.

If it get's through the highlighted area, I'll probably be waiting for it at the zones below

Attachment
"Keep your eyes on the helpers" - Mr. Rogers
  • #266
  • Feb 8, 2012 7:05pm Feb 8, 2012 7:05pm
Quoting damonl
Yea, I would think that my shorts will be coming off right about the spot of your pink box and from there I will be looking to take her long


That's just wrong
I don't care which way the market is going as long as it's going my way
  • #267
  • Feb 8, 2012 7:08pm Feb 8, 2012 7:08pm
ll, first attempt got deleted... bleep...

I am going to stay short with my SL at 60. That gives my trades enough time to turn arournd and jump of the cliff. It really took the close of that large bull bar to take me out of bearish mode. Now, am I a bear for this pair is it a range pair? And, if it is a range pair. Is iot a bull or a bair range? At the moment, some of these answers are unclesr, so I think I will leave my current trade up and see what happens with that, and also see if any modifications can be done around while my candlesticks more into position.

Here is my chart. If I am lucy, I may even see positive out of this mess

Attached Image (click to enlarge)
Click to Enlarge Name: eurcad.gif Size: 24 KB
"Keep your eyes on the helpers" - Mr. Rogers
  • #268
  • Feb 8, 2012 7:09pm Feb 8, 2012 7:09pm
I Know! I was thinking the same thing, but I did it anyway

Quoting PipKiller


That's just wrong
"Keep your eyes on the helpers" - Mr. Rogers
  • #269
  • Feb 8, 2012 7:43pm Feb 8, 2012 7:43pm
Quoting damonl
I am going to stay short with my SL at 60. That gives my trades enough time to turn arournd and jump of the cliff. It really took the close of that large bull bar to take me out of bearish mode. Now, am I a bear for this pair is it a range pair? And, if it is a range pair. Is iot a bull or a bair range? At the moment, some of these answers are unclesr, so I think I will leave my current trade up and see what happens with that, and also see if any modifications can be done around while my candlesticks more into position.

Here is my chart. If I...
You had a reason (I hope) to place the order so it's usually best to stick to yer guns until that reason is no longer valid. Then it's time to ditch da bitch.

Look at the long term charts (like 20 years worth of data) Unlike equities indices that generally continue to go up over the long term, forex is one giant range trade.

Bears make money, Bulls make money, Pigs (or PIIGS) get slaugtered.
I don't care which way the market is going as long as it's going my way
  • #270
  • Feb 8, 2012 8:10pm Feb 8, 2012 8:10pm




Quoting PipKiller
You had a reason (I hope) to place the order so it's usually best to stick to yer guns until that reason is no longer valid. Then it's time to ditch da bitch.

Look at the long term charts (like 20 years worth of data) Unlike equities indices that generally continue to go up over the long term, forex is one giant range trade.

Bears make money, Bulls make money, Pigs (or PIIGS) get slaugtered.
"Keep your eyes on the helpers" - Mr. Rogers
  • #271
  • Feb 9, 2012 1:41am Feb 9, 2012 1:41am
Quoting PipKiller

Bears make money, Bulls make money, Pigs (or PIIGS) get slaugtered.
Those who say it cannot be done should not interrupt those who are doing it
  • #272
  • Feb 9, 2012 6:40am Feb 9, 2012 6:40am
It never ceases to amaze me how supply and demand zones on the higher TF charts often coincides with news and economic releases and the strength of a good zone.

A little hopium popped it in into the zone last night for a perfect entry where it was quickly rejected and the BOE statement this morning slapped it harder as macro players stepped in.

Attached Image (click to enlarge)
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Attached Image (click to enlarge)
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I don't care which way the market is going as long as it's going my way
  • #273
  • Feb 9, 2012 6:44am Feb 9, 2012 6:44am
Quoting PipKiller
It never ceases to amaze me how supply and demand zones on the higher TF charts often coincides with news and economic releases and the strength of a good zone.

A little hopium popped it in into the zone last night for a perfect entry where it was quickly rejected and the BOE statement this morning slapped it harder as macro players stepped in.

Attachment

Attachment
I have always been amazed at how news seems to coincide. I'm sure there is a non-supernatural reason for it. I've just never really looked into it.
Perhaps the most logical explanation is that just before news events, the big money players position themselves right at those technical levels.
Those who say it cannot be done should not interrupt those who are doing it
  • #274
  • Feb 9, 2012 8:14am Feb 9, 2012 8:14am
Quoting PipTrapper
I have always been amazed at how news seems to coincide. I'm sure there is a non-supernatural reason for it. I've just never really looked into it.
Perhaps the most logical explanation is that just before news events, the big money players position themselves right at those technical levels.

It's nothing special. Simple laws of supply and demand. Those are areas that were already out of balance last time price moved away and some orders that were not filled are still there as well as others that place orders here or front run it a little bit like me to take advantage of it.

It's simple buy low, sell high... Buy at wholesale, sell at retail.

I'm a big fan of Sam Seiden and he has some great webinars on FXstreet Have to warn everyone. These are some dry boring webinars but what he teaches really works.
I don't care which way the market is going as long as it's going my way
  • #275
  • Feb 9, 2012 8:41am Feb 9, 2012 8:41am
Quoting PipKiller
It's nothing special. Simple laws of supply and demand. Those are areas that were already out of balance last time price moved away and some orders that were not filled are still there as well as others that place orders here or front run it a little bit like me to take advantage of it.

It's simple buy low, sell high... Buy at wholesale, sell at retail.

I'm a big fan of Sam Seiden and he has some great webinars on FXstreet...
cool.. I'll give it a looksee when I can take the boredom. Perhaps after a good shag
Those who say it cannot be done should not interrupt those who are doing it
  • #276
  • Feb 9, 2012 9:07am Feb 9, 2012 9:07am
Quoting PipTrapper
cool.. I'll give it a looksee when I can take the boredom. Perhaps after a good shag
Ancient Greek or Roman bunga bunga

Inserted Video
I don't care which way the market is going as long as it's going my way
  • #277
  • Feb 9, 2012 10:01am Feb 9, 2012 10:01am
I'll start tracking trades beginning to end live on the EurUsd pair so y'all can get a better idea of what I am doing.

I'm not going to post charts on everything else I trade as it's just too much clutter.


E$ Short limit order placed. I'm waiting on the next pop up into supply.

H4 fresh supply level above. Levels stacked on levels. Should be some resistance ahead of the 50.0 fib which is about where the SL is.

 

  1. Entry 1.3362
  2. SL 1.3437
  3. TP will trail SL the spread above the HA candle once entire candle closes outside zone and entry in profit.
  4. Risk 1% of current acount balance

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4.jpg Size: 120 KB

Attached Image (click to enlarge)
Click to Enlarge Name: eurusdh4a.jpg Size: 94 KB
I don't care which way the market is going as long as it's going my way
  • #278
  • Feb 9, 2012 10:41am Feb 9, 2012 10:41am
Quoting PipKiller
I'll start tracking trades beginning to end live on the EurUsd pair so y'all can get a better idea of what I am doing.

I'm not going to post charts on everything else I trade as it's just too much clutter.


E$ Short limit order placed. I'm waiting on the next pop up into supply.

H4 fresh supply level above. Levels stacked on levels. Should be some resistance ahead of the 50.0 fib which is about where the SL is.
[list][*]Entry 1.3362[*]SL 1.3437[*][font=Verdana]TP will trail SL the...
Nice target
Those who say it cannot be done should not interrupt those who are doing it
  • #279
  • Feb 9, 2012 12:38pm Feb 9, 2012 12:38pm
Okay, this is it. I have drawn the line ini the sand. Either eurcad is going to obey this line or I am going to close this trade and take, a loss.

So. Bring it on eurcad. I've seen and beaten your kind around here before. I am so ready!
"Keep your eyes on the helpers" - Mr. Rogers
  • #280
  • Feb 10, 2012 6:38am Feb 10, 2012 6:38am
Quoting damonl
Okay, this is it. I have drawn the line ini the sand. Either eurcad is going to obey this line or I am going to close this trade and take, a loss.

So. Bring it on eurcad. I've seen and beaten your kind around here before. I am so ready!

You might be ready but I don't think this pair is.

Chinese trade balance data number came in much higher than expected last night which is bad for commodities. This started a risk off environment last night with commodities and commodities currencies (the Aussie, Kiwi and the Canadian dollar) taking the biggest hit selling off against almost everything else.

From Finviz

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I don't care which way the market is going as long as it's going my way
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