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Daily Chart w/ 10sma

  • #661
  • Feb 29, 2012 7:19am Feb 29, 2012 7:19am
bkg the full candles that you had posted up on Sunday what I have noticed on Monday they all formed smaller candles in the same direction and on Tuesday they all formed larger candles in the opposite direction and 4 of the pairs are all heading across the 10sma as we watch, and the 2 jpy pairs are heading in the same direction.
Why did you pick those 6 pairs?
  • #662
  • Feb 29, 2012 7:39am Feb 29, 2012 7:39am
Quoting miike
Hi Rokz,

Your entry was not aligned with this strategy, as the pin bar was not a close of the 10SMA cross.

Still a top entry in terms of a profitable trade.



Cheers,
Miike
Yeah mate I'm fully aware of that, but how could I resist such a sexy candle screaming out 'Sell Me!, Sell Me!'....
+101 at the moment.
  • #663
  • Feb 29, 2012 7:45am Feb 29, 2012 7:45am
Quoting don555
bkg the full candles that you had posted up on Sunday what I have noticed on Monday they all formed smaller candles in the same direction and on Tuesday they all formed larger candles in the opposite direction and 4 of the pairs are all heading across the 10sma as we watch, and the 2 jpy pairs are heading in the same direction.
Why did you pick those 6 pairs?
I was just showing how when candles close full a lot of times they will head in the opposite direction the next day or so. Sometimes when you see a candle close full at 200sma or s/r area it's a good place to take your profit.
Please ask questions and share your experiences with us all!
  • #664
  • Feb 29, 2012 7:51am Feb 29, 2012 7:51am
Quoting bkg102665
I was just showing how when candles close full a lot of times they will head in the opposite direction the next day or so. Sometimes when you see a candle close full at 200sma or s/r area it's a good place to take your profit.
Yes I have noticed the same thing, these large candles often point to a possible reversal point which is good for profit taking.
  • #665
  • Feb 29, 2012 7:55am Feb 29, 2012 7:55am
AUSNZD <-- Watch this
  • #666
  • Feb 29, 2012 8:00am Feb 29, 2012 8:00am
Couldnt do my end of day analysis last night

Olu
If you think you can or cannot do it you are correct
  • #667
  • Feb 29, 2012 8:23am Feb 29, 2012 8:23am
Quoting Rokz
Yes I have noticed the same thing, these large candles often point to a possible reversal point which is good for profit taking.

They could also get you into the next trade a lot earlier although this would be contrary to bkgs 10 sma system
  • #668
  • Edited 8:43am Feb 29, 2012 8:31am | Edited 8:43am
Quoting don555
They could also get you into the next trade a lot earlier although this would be contrary to bkgs 10 sma system
No they wouldn't...

I am talking about candles such as these,

http://i43.tinypic.com/2yye0c6.png

This big blue candle closed above the 10SMA, way to large to convince me to trade with it. Plus the 200SMA provided resistance.

EDIT : Don't confuse S&R lines for Order Lines, realised similarities once I uploaded it.
  • #669
  • Feb 29, 2012 8:41am Feb 29, 2012 8:41am
Quoting Rokz
No they wouldn't...

I am talking about candles such as these,

http://i43.tinypic.com/2yye0c6.png

This big blue candle closed above the 10SMA, way to large to convince me to trade with it. Plus the 200SMA provided resistance.
On my chart as you can see the long candle closed above the 10sma and my 200sma. I waited for price to back up for a better entry. You can look left on my chart and see this has been s/r area in the past so I went long on this pair. We will see where it goes from here. This may or may not work but that is my thought process for entering this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd0229.gif Size: 26 KB
Please ask questions and share your experiences with us all!
  • #670
  • Feb 29, 2012 8:46am Feb 29, 2012 8:46am
Quoting bkg102665
On my chart as you can see the long candle closed above the 10sma and my 200sma. I waited for price to back up for a better entry. You can look left on my chart and see this has been s/r area in the past so I went long on this pair. We will see where it goes from here. This may or may not work but that is my thought process for entering this trade.
Oh you were buying there...I have written this in my journal as a sell. If I wake up and it's down I am going to be all over it like white on rice. The trend is down for ALL timeframes don't fight it.

Good luck, may the best man win. Hehe
  • #671
  • Feb 29, 2012 8:50am Feb 29, 2012 8:50am
Quoting Rokz
AUSNZD <-- Watch this

did you take short?
  • #672
  • Feb 29, 2012 8:53am Feb 29, 2012 8:53am
Quoting alwaro
did you take short?
I will in 7hrs if it closes below 10SMA.
  • #673
  • Feb 29, 2012 8:57am Feb 29, 2012 8:57am
Quoting bkg102665
On my chart as you can see the long candle closed above the 10sma and my 200sma. I waited for price to back up for a better entry. You can look left on my chart and see this has been s/r area in the past so I went long on this pair. We will see where it goes from here. This may or may not work but that is my thought process for entering this trade.
This would be my analysis of your pic that you had submitted,
(I am using a 200SMA I think you may be using an EMA)

http://i42.tinypic.com/2ywsg7s.gif

Don't forget your 200MA can be S&R also. This is my opinion so don't take my word for it just throwing ideas around.

EDIT : I also only trade on the FIRST candle that crosses the 10SMA.
  • #674
  • Feb 29, 2012 9:07am Feb 29, 2012 9:07am
Moved the stop on my NZDUSD position to break even.
  • #675
  • Feb 29, 2012 9:11am Feb 29, 2012 9:11am
What is everyones opinion on EURNZD?
  • #676
  • Feb 29, 2012 9:16am Feb 29, 2012 9:16am
Quoting Rokz
What is everyones opinion on EURNZD?
Looks very very interesting, am going to check back on it after the NY close
  • #677
  • Feb 29, 2012 9:20am Feb 29, 2012 9:20am
Ahh, haha that would explain it. Mine close at 9am Aussie time using Pepperstone.
  • #678
  • Feb 29, 2012 9:51am Feb 29, 2012 9:51am
Quoting miike
Hi Guys,

Grooler beat me to it buy a min or two, but here is my analysis...

Personally I like the USDCAD trade.
Quoting Rokz
Yep, I am in the same USDCAD trade, I entered a few hours early on the Pinbar @ 0.99882..

interesting speech from bernanke... causing major moves down across usd pairs... potential seeing full bearish candles on hourly!!!

i am out for 90 pips on cad...

will evaluate the charts again tomorrow...

cheers
  • #679
  • Feb 29, 2012 10:04am Feb 29, 2012 10:04am
Intresting chart in the Eur/gbp.
Price close below ema 10 and break S/R line.

We have space for about 50-70 pips down

Dutchsignals
Attached Image
  • #680
  • Feb 29, 2012 11:02am Feb 29, 2012 11:02am
gbpchf can be possible oportunity
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