Nearly Naked (Simple Trades)

Fantastic!!!

Scalped GU and EU on fibs. Looking for PPZ to the north on EU next.

That was a really good trade on EU!

Thanks Dude ! How u doing Marc ? How's the rugrat doing, she running all over the place

Doing good. Ya, she is running around and always into mischief!

Target hit, good way to end the week. Two large orders, exiting now as I hit my goal for the week and I dont want to roll these. Hope everyone did well this week. Was good to see some old friends and some familiar faces Till next week traders, have a good weekend.

Hi Saxon

Thankyou for posting the EU chart.
It was a nice level on the EU with the fibs for a sell.

Nice trade.

Im watching AU too but it has not returned to 1.0800.

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I really enjoy posting on this thread. I hope the old crew MarcVUM, amyc ,Calderone .... continue to post along with your awesome posts it will be a great year.

Fantastic!!!

Being a Dad is so cool, there is nothing else like it.
Looks like your doing an awesome job.

My daughter is 4.5 years old now, she tries to beat me up each day, its so funny.

Edit: didn't see last post - enjoy drink up!!!!!!!!!!!

!Hey Saxon, cool thread, not sure why I've not posted around here before.

Love the first post, says it all.

What are your favorite pairs??

Forgive my not reading the entirety!
X

PS I will try to post some of my setups. dont really use indicators at all.

Besides simples: Sma Tls s/r etc/ like you had said. oh and chart patterns, flags, hs etc....

Hi X
Good to have you here. I trade mostly EU, GU, AU, NU, UCAD and UCHF. The other pairs I usually trade only when they reach really significant levels since liquidity in those pairs is usually lower and spreads are much bigger. My trading style can kinda be broken down into the following:

50% - Fibs
10% - Pivs
10% - Psychological SR
10% - PA Formations
10% - Shooting from the hip
10% - Dumb Luck

I add in a few things here and there but that is mostly it. Candle Patters should be in there, but i only use 1 or 2 patterns (Doji, etc...)

P.S. I deleted my last post, wayyyyyy too drunk haha

Pretty uneventful day huh.

Ya.

Oh wonderful
Sorry German Citizens
http://www.cnn.com/2012/02/20/busine...html?hpt=hp_t1

I just want to go on the books as saying this was stupid and is a band-aid for a larger problem.

short at 1.3280 - 1.3290 if we go back up there soon today.

Targeting PPZ in purple to the south. Front is 1.56/Piv Conf, back is Fib.

Hi Saxon,
I have similar levels using different tools.

Hi Saxon

nice GU chart.

there is a matching level on the daily at 1.5590

looks like GU bounced off the 3 weekly lows area 2 times in the last 24 hours....... at 1.5638.


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Frank Dilernia thread of 6 pages here on forex factory named : GBP/USD Higher timeframe Analysis

http://www.forexfactory.com/showthre...67#post1786367

I took a 9 month break from trading especially to read his book (market trading market timing ) and clear my head after I witnessed first hand the excellence of amyc trading method early last year. Amyc is very helpful and kind. I was inspired by her to learn a whole new way of trading, that is making the market much clearer to understand.


here is a part of one of his posts dated Jan 6, 2008 :

I have written two books on higher timeframe dynamics, so I’m going to try and explain it in the shortest possible length.


Trends originate around monthly timeframes, the closer it is to the middle of the range it will try and trust outwards to the extreme within that same time period. The direction is determined by what side is price trading in relation to the 50% level. (Support/resistance)

Once it gets to the extremes (support/resistance) it will try and rotate back towards the middle. When the new monthly timeframe begins new levels are formed and this pushes the dynamics of the next timeframe higher or lower than the previous (aka pivots)

Thus when looking that the above chart, the support in December isn’t valid because time has shifted it to lower in January. Therefore we have forward-modelled that GBP could make lower lows during this monthly timeframe, because the monthly timeframe is projecting lower lows.

Look at US index markets and the sell downs this Week. I told others in my report on 30th December, that US markets will sell off this week because of where price was trading in relation to the January 50% levels:- below and in the middle of the Monthly timeframe heading down.

Next Step:-

Have a look at any Weekly timeframe chart, it can be any chart of any index or commodity….. What do you notice?

There is a high probability that price will close away from the open during the 5-days. Therefore we have bottom-to-top or top-to-bottom trading Weeks on most occasions:- approx 72% of the time

Whenever the market closes at its extremes on Friday, it normally will try and rotate back towards the middle of the 5-day range over 2-3 days the following week before resuming the overall trend of the market…

As traders we want to look at Trends, but also look for high probability patterns in the markets so we can maximise reward and minimise Risk:- ( hold the trade as long as possible). We need Generic patterns that everyone can use even though there are hundreds of methods traders use to make trading decisions.



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another post helpful for GU


http://www.forexfactory.com/showthre...54#post1800454





Here is a tip.....for day-trading 90 pip ranges...


you've entered the trade around the 90 pip spiral point... either high or low

and it's moving into your direction, so you are into the money...

a good trade should continue into the 90 pip range completion without reversing 32 pips....

if it reverses 32 pips without completing the 90 pip range, there is a good chance that price will move into a consolidating pattern, and or go and retest the reversal point once again...

Sometimes it's a good idea to lighten up when this happens....

I know GBP can move quickly at times, but I know once it reverses 32 pips, i'm going to be hanging around for awhile ( a few hours) before anything happens:- completes the 90 pip range or moves into the next 90 pip range against my position..

it puts my trade at risk when though i'm still in the money...


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11.50am London
Hi everybody....
The market is a bit tired of the boring long time consolidation.
Slowly we have more & more bearish signals building and confirming.
The last bulls bastion 1.3300 as far as now was rejected by the market with false signals above 1.3300 (killing some bears by the way)
Bearish MACD divernence, bearish stochastic, bearish DSS.
Now all big bears been waiting for a “START-IMPULSE” signal and this can come with “unemployment claims” so we can begin sort of free falling this and next week.
If unemployment claims however favours bulls, we can see 1.3440 by the end of the day.

So what will we see in two hours time

this chart pattern on the EU and US dollar index with the last 4 hr candles breaking out of the levels upside for EU and down for Dollar index normally makes for a continuation in the same direction on the next candle/candles before any change in trend.

the first EU 3 weekly highs at 1.3349, the price action stopped 2 pips short of this level on the GMT 08:00 4 hr candle.
London just closed this candle right on the previous highs for this week at 1.3292.

some interesting levels here, looking forward to see how it plays out.