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  • #5,221
  • Feb 22, 2012 5:53am Feb 22, 2012 5:53am
This market needs 5000 volts up it and I'm not sure that even then it would go Vrooooom!

Got out of the short trade +8 pips. Too close to NY open to stay hanging in hoping. Let's see what the afternoon brings?
  • #5,222
  • Feb 22, 2012 6:00am Feb 22, 2012 6:00am
testing the bottom of Asia session now,,,,,,,
Keep It Simple Stupid
  • #5,223
  • Feb 22, 2012 6:15am Feb 22, 2012 6:15am
Quoting cajun
Don't know if it is or not, i just thought it was good info for FREE.
The lady is from Romania, do I need to say any more....
  • #5,224
  • Feb 22, 2012 6:21am Feb 22, 2012 6:21am
Quoting snarlyjack
Cajun,

I thought the report by SF was interesting, that's for posting it!

snarlyjack
Really, looks very much like your typical forex scam to me...hook, line and sinker....

What was so interesting about it?
  • #5,225
  • Feb 22, 2012 7:31am Feb 22, 2012 7:31am
X-Man,

What will you do if the 4Hrs TF price breakout the daily channel like the attached picture? Will you wait for the new channel formed and take the trade as new channel formed mean a reversal happened?

Thanks!
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 117 KB
  • #5,226
  • Feb 22, 2012 7:49am Feb 22, 2012 7:49am
Price is hanging around 23.6% fib level of push up!! Cant seem to push through.... Maybe more up!! I will wait for confirmation good luck all
  • #5,227
  • Feb 22, 2012 7:55am Feb 22, 2012 7:55am
josh,

which pair you referring to?
  • #5,228
  • Feb 22, 2012 8:01am Feb 22, 2012 8:01am
Quoting leong_87
josh,

which pair you referring to?
only trade Euro/Usd
  • #5,229
  • Feb 22, 2012 8:12am Feb 22, 2012 8:12am
all TDI lines at 50, pair seems to go nowhere...
  • #5,230
  • Feb 22, 2012 8:20am Feb 22, 2012 8:20am
Quoting leong_87
X-Man,

What will you do if the 4Hrs TF price breakout the daily channel like the attached picture? Will you wait for the new channel formed and take the trade as new channel formed mean a reversal happened?

Thanks!
When that happens then trend is changing, as you can see higher low formed. So trend will probably change to an uptrend
X-man the legendary conqueror of markets
  • #5,231
  • Feb 22, 2012 8:27am Feb 22, 2012 8:27am
As you can see PA is moving sideways (tight range) no good set ups for today.
If you look at TDI you will notice the red, green and yellow starting to squeeze so there will be a break out soon.

In which direction and when? I dont know

we just have to maintain our patience and discipline

By the way end of every month i notice the markets do this.
I usually get the lowest pip count during the last week of the month.
X-man the legendary conqueror of markets
  • #5,232
  • Feb 22, 2012 8:36am Feb 22, 2012 8:36am
Quoting X-Man
As you can see PA is moving sideways (tight range) no good set ups for today.
If you look at TDI you will notice the red, green and yellow starting to squeeze so there will be a break out soon.

In which direction and when? I dont know

we just have to maintain our patience and discipline

By the way end of every month i notice the markets do this.
I usually get the lowest pip count during the last week of the month.



Hi X-Man,

Can you explain me why the candle where the TDI crossed in early LO wasn’t a pullback??
I appreciate you help.
Thanks.
  • #5,233
  • Feb 22, 2012 8:40am Feb 22, 2012 8:40am
X-Man,

Thanks for the reply! So if new channel created (Trend changing), will you take any trade when you see new channel is created?
  • #5,234
  • Feb 22, 2012 8:49am Feb 22, 2012 8:49am
Quoting leong_87
X-Man,

Thanks for the reply! So if new channel created (Trend changing), will you take any trade when you see new channel is created?
When trend changes then i would wait for PA to retrace to the 60EMA so then i can look for a potential bounce set up off the 60EMA.
and trade in the direction of the trend
X-man the legendary conqueror of markets
  • #5,235
  • Feb 22, 2012 9:37am Feb 22, 2012 9:37am
As X-Man indicated, this is the third day of a ranging market on the EU and even though I was aware of that, I tried one short trade anyway, that went nowhere.
I have been backtesting and learning how PA moves on the GU pair for the past several weeks. This morning I decided to place a live trade on GU H1 because that pair has NOT been ranging (look at your charts and see the downward slope of the Market and the TDI for the last three days). There was a very good setup with a reversal candle at LO that broke back down through the 200 EMA. TDI green was below the 50 and crossed down over the red AND the yellow MBL. PA moved down quickly with a long red candle so I moved my TP and rode it through the first resistance line (after PA hesitated a bit) to the second resistance and closed it for 120 pips. It turned out to be a very good trade.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2.22.12.EU.gif Size: 70 KB
Click to Enlarge Name: 2.22.12.GU.gif Size: 34 KB
  • #5,236
  • Feb 22, 2012 9:48am Feb 22, 2012 9:48am
Due to the lack of E/U movement I looked elsewhere today, I took 2 trades.
1) GBP.USD SHORT = +40 Pip... I went for a R:R of 1:1 as I am not so familiar with G.U. I meant to enter as TDI crossed down and price went straight through Daily Support 1, however i was a little late to enter as i was fumbling around with my S1 Calculations. Trade Hit TP at 12:30 GMT.
2) EUR.GBP LONG = +16 Pip... Same reason as trade 1, I looked for 1:1 R:R, I entered long as TDI crossed up and price went through Resistance 1, I didn't know how price would react around NewYork Open, so I locked in my profits and set a very tight SL at +15, Shortly exited the trade for a nice little win.

Still feeling like luck has a influence, but I guess the reassurance will come with time and number of trades! Happy with todays trades, although I didn't quite make the G.U trade phx62 did, it's good enough for me at this stage! +56 pips Today!
Attached Image (click to enlarge)
Click to Enlarge Name: Eur.Gbp Long.png Size: 5 KB
Attached Image
  • #5,237
  • Feb 22, 2012 10:04am Feb 22, 2012 10:04am
Quoting Phx62
As X-Man indicated, this is the third day of a ranging market on the EU and even though I was aware of that, I tried one short trade anyway, that went nowhere.
I have been backtesting and learning how PA moves on the GU pair for the past several weeks. This morning I decided to place a live trade on GU H1 because that pair has NOT been ranging (look at your charts and see the downward slope of the Market and the TDI for the last three days). There was a very good setup with a reversal candle at LO that broke back down through the 200 EMA. TDI green...
I noticed on GU you had pivots but on EU you dont...is there some difference as to what kinds of resistance points get respected/broken between the two pairs?
  • #5,238
  • Feb 22, 2012 10:06am Feb 22, 2012 10:06am
Quoting Phx62
As X-Man indicated, this is the third day of a ranging market on the EU and even though I was aware of that, I tried one short trade anyway, that went nowhere.
I have been backtesting and learning how PA moves on the GU pair for the past several weeks. This morning I decided to place a live trade on GU H1 because that pair has NOT been ranging (look at your charts and see the downward slope of the Market and the TDI for the last three days). There was a very good setup with a reversal candle at LO that broke back down through the 200 EMA. TDI...
Hi Phx62,

Checking you E/U chart, i opened a short trade at LO as you but i closed after 4 candles with -19pips; so I would like to know did you manage this trade in order to realize that you should close the trade at -1pip? When the pair is hesitating how do you decide to let it go or just close it??
Sorry but i've been having troubles at the time of manage the trade ones its open.

Thanks for the info...
  • #5,239
  • Feb 22, 2012 10:20am Feb 22, 2012 10:20am
Quoting hale-mary
I noticed on GU you had pivots but on EU you dont...is there some difference as to what kinds of resistance points get respected/broken between the two pairs?
I also have them on a different EU chart but so far, they have not been as useful as I wanted....still looking at them to see what I am missing.
  • #5,240
  • Feb 22, 2012 10:22am Feb 22, 2012 10:22am
Quoting jamauqui
Hi Phx62,

Checking you E/U chart, i opened a short trade at LO as you but i closed after 4 candles with -19pips; so I would like to know did you manage this trade in order to realize that you should close the trade at -1pip? When the pair is hesitating how do you decide to let it go or just close it??
Sorry but i've been having troubles at the time of manage the trade ones its open.

Thanks for the info...
As I said in the post, I knew the market was ranging, so when it PA did not follow through, I closed the trade.
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