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Daily Chart w/ 10sma

  • #681
  • Feb 29, 2012 9:11am Feb 29, 2012 9:11am
Quoting dutchsignals
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
but open short in new candle or wait to back to the 10sma?
  • #682
  • Feb 29, 2012 3:01pm Feb 29, 2012 3:01pm
Hi BKG,

How did you go overnight with your open trades?

It was going all nice for me when I went to sleep, then the market turned and punished me.

Lesson here: Always follow money management rules to protect your capital!

CLOSED:
1. GBPNZD
- SELL - 1.8852
- CLOSE - 1.9037
- P/L: -195 pips
- Got smashed on reversal. Lucky I have strong MM in place, only a 1.2% loss.

OPEN:
2. AUDUSD
- BUY - 1.0764
- CP - 1.0733
- P/L: -31 pips
- Currently holding above the 10SMA.

3. GBPAUD
- SELL - 1.4713
- CP - 1.4835
- P/L: -122 pips
- Testing resistance at 1.4841. Looks to be holding. Still ranging, expect it to go short during the asian trading session.

4. USDCAD
- SELL - 0.9972
- CP - 0.9891
- P/L: +81 pips
- Support has been broken, I expect it to run down to test 0.9738 support.

Total Open: -72 pips

Cheers,
Miike
  • #683
  • Feb 29, 2012 3:26pm Feb 29, 2012 3:26pm
This is what I look for in a trade. This trade may fail miserably but I will take it every time. 1) bounced off support 2) above 10sma and 200sma 3) broke trendline from 2 or 3 months ago.

It may not work but like I said this is what I like to see and I will take it every time!!
Attached Image (click to enlarge)
Click to Enlarge Name: audnzd0229.gif Size: 26 KB
Please ask questions and share your experiences with us all!
  • #684
  • Feb 29, 2012 3:39pm Feb 29, 2012 3:39pm
Quoting miike
Hi BKG,

How did you go overnight with your open trades?

It was going all nice for me when I went to sleep, then the market turned and punished me.

Lesson here: Always follow money management rules to protect your capital!

CLOSED:
1. GBPNZD
- SELL - 1.8852
- CLOSE - 1.9037
- P/L: -195 pips
- Got smashed on reversal. Lucky I have strong MM in place, only a 1.2% loss.

OPEN:
2. AUDUSD
- BUY - 1.0764
- CP - 1.0733
- P/L: -31 pips
- Currently holding above the 10SMA.

3. GBPAUD
- SELL - 1.4713
- CP - 1.4835
- P/L: -122...
I got spanked on one but my suggestion to you would be, never be in four trades unless you have moved your s/l to positive number. Be smarter than the market. Me or no one else can tell you where price will go. We have to use the past as a guide for the future but that does not always work. As trade one is locked in profit get tin trade two, lock in profit and get in trade three, on so on.
Please ask questions and share your experiences with us all!
  • #685
  • Feb 29, 2012 3:54pm Feb 29, 2012 3:54pm
Quoting bkg102665
This is what I look for in a trade. This trade may fail miserably but I will take it every time. 1) bounced off support 2) above 10sma and 200sma 3) broke trendline from 2 or 3 months ago.

It may not work but like I said this is what I like to see and I will take it every time!!
Yeahhh!!! Thats a 100% Perfect Setup!!!!
  • #686
  • Feb 29, 2012 3:55pm Feb 29, 2012 3:55pm
Quoting bkg102665
I got spanked on one but my suggestion to you would be, never be in four trades unless you have moved your s/l to positive number. Be smarter than the market. Me or no one else can tell you where price will go. We have to use the past as a guide for the future but that does not always work. As trade one is locked in profit get tin trade two, lock in profit and get in trade three, on so on.
Thanks Mate,

Good advice, it's a lesson learned.

No matter how much you experience, there's always something new to learn and look out for!

Cheers,
Miike
  • #687
  • Feb 29, 2012 4:00pm Feb 29, 2012 4:00pm
Worth watching in 1-2 days... Let me know what you, guys, think.

Cheers...
To excel by continuous learning
  • #688
  • Feb 29, 2012 4:02pm Feb 29, 2012 4:02pm
Hi guys, I entered this trade. I know that is not a perfect set up, but I will trade it.

This is my trading plan...
Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 61 KB
  • #689
  • Feb 29, 2012 4:21pm Feb 29, 2012 4:21pm
Quoting gregofx
Hi guys, I entered this trade. I know that is not a perfect set up, but I will trade it.

This is my trading plan...
Yeah I do think this is a valid trade however
I would like to discussed this and need a help with entry point.
As we all can see it is a valid signal we are below sma and a resistance as pictured below

[IMG]http://www.forexfactory.com/
Inserted Code
http://speedy.sh/pa8v8/nzd-usd-daily.gif
[/IMG]

however on H1 there is a valid short term buy signal so what you guys would do? would you wait for candle formation on H1 suggesting further drop and enter higher or simply enter now and pu a larger SL(Bigger risk?)

[IMG]http://www.forexfactory.com/
Inserted Code
http://speedy.sh/hDmgm/nzd-usd-h1.gif
[/IMG]
Attached Image (click to enlarge)
Click to Enlarge Name: nzd usd daily.gif Size: 14 KB
swing it!
  • #690
  • Feb 29, 2012 4:22pm Feb 29, 2012 4:22pm
sorry for the url s**t I still do not know how to upload pics
swing it!
  • #691
  • Feb 29, 2012 4:31pm Feb 29, 2012 4:31pm
EUR/NZD valid signal possible 300 pip drop and I would love to show you picture but I am retard and do not now why ff showing links instead pictures
swing it!
  • #692
  • Feb 29, 2012 4:54pm Feb 29, 2012 4:54pm
Quoting tomspin
EUR/NZD valid signal possible 300 pip drop and I would love to show you picture but I am retard and do not now why ff showing links instead pictures
Are you talking about this pair? What was the valid signal?

http://i43.tinypic.com/20p9h5k.png
  • #693
  • Feb 29, 2012 4:58pm Feb 29, 2012 4:58pm
nope I am talking about this one
[IMG]http://www.forexfactory.com/
Inserted Code
http://speedy.sh/yczwz/eur-nzd.gif
[/IMG]
Attached Image (click to enlarge)
Click to Enlarge Name: eur nzd.gif Size: 16 KB
swing it!
  • #694
  • Feb 29, 2012 4:59pm Feb 29, 2012 4:59pm
Change your sma from expodental to simple an You will see
swing it!
  • #695
  • Feb 29, 2012 5:03pm Feb 29, 2012 5:03pm
Quoting tomspin
nope I am talking about this one
[IMG]http://www.forexfactory.com/
Inserted Code
http://speedy.sh/yczwz/eur-nzd.gif
[/IMG]
Lol, that's what I linked. My 10SMA hasn't been crossed yet .
  • #696
  • Feb 29, 2012 5:13pm Feb 29, 2012 5:13pm
Right I am bit confused however wish to know your opinion about entry point any suggestions?
swing it!
  • #697
  • Feb 29, 2012 5:35pm Feb 29, 2012 5:35pm
Quoting tomspin
Right I am bit confused however wish to know your opinion about entry point any suggestions?
EUR/NZD - I would go long and the target around 1.72 bottom trendline touched on 1W and I am expecting the price bounce up.
  • #698
  • Feb 29, 2012 5:48pm Feb 29, 2012 5:48pm
I'm going to avoid that one for today, maybe if it closes lower tomorrow I'll revise it. Only one I took today with these rules is NZDUSD which is a bit of a gamble since I am fighting a trend.
  • #699
  • Feb 29, 2012 6:15pm Feb 29, 2012 6:15pm
Quoting Rokz
I'm going to avoid that one for today, maybe if it closes lower tomorrow I'll revise it. Only one I took today with these rules is NZDUSD which is a bit of a gamble since I am fighting a trend.

Did you go long or short ?
  • #700
  • Feb 29, 2012 6:30pm Feb 29, 2012 6:30pm
Hi everybody,

I watched a Stephen Bigalow webinar yesterday.

Here's a bit of info he gave that may be of use to us:

When we have a market in a tight range (ma going flat) he suggested that we should use a 2ema together with the 8ema (our 10ema) to help filter out false signals.

ie only take signals when the ma's cross
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