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Daily Chart w/ 10sma

  • #741
  • Mar 2, 2012 3:13pm Mar 2, 2012 3:13pm
short on gbpusd
  • #742
  • Mar 2, 2012 6:51pm Mar 2, 2012 6:51pm
Wow, Congratulation! What a good week!

Admiring!

B.R.
Raymond

Quoting JayTrader
Friday Update: Increased my account by 13% this week trading this method, that's including a 1% SL hit on a GBPCAD trade( only loss this week ). I still have 2 runners, the AUDCHF and EURAUD, most of the lots on these trades were already closed out but a portion was left on well beyond BE.
Good Weekend to Everyone
Outcome is not important at all, but correct technique is what only matters
  • #743
  • Mar 3, 2012 8:45am Mar 3, 2012 8:45am
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.
BKG awesome trade, very well picked and you deserve every pip you squeeze from it.
  • #744
  • Mar 3, 2012 12:06pm Mar 3, 2012 12:06pm
So sorry, the prices of 1.2457 and 1.2469 on this post should have been 1.2357 and 1.2360. Oh well, what's a hundred pip error when you are otherwise wealthy? http://www.forexfactory.com/images/icons/icon12.gif
Enjoy your weekend fellow BKG traders!

Judy
  • #745
  • Edited 5:09pm Mar 3, 2012 4:13pm | Edited 5:09pm
Quoting Chicajudy
Good trading this week, Jay Trader.

Now I know you will enjoy your weekend!

Regards,

Judy

Quoting szpowerx
Wow, Congratulation! What a good week!

Admiring!

B.R.
Raymond
Thanks , Have a Good weekend, and hopefully we can repeat it next week
Always Learning
  • #746
  • Mar 3, 2012 8:37pm Mar 3, 2012 8:37pm
Hi Guys,

Fantastic week. It's really good to hear that people are having great success.

BKG, your goal of helping others be successful is admirable and paying dividends as you can see!

Well done to everyone.

I've closed out my own trades this week before the weekly close.

Ended my week with +52 pips, not as many as I hoped for. However I made 1 trade that hurt me costing me 120 pips. Lucky I closed this out as it ended up hitting my initial SL at 150 pips.

Looking forward to next week!

Cheers,
Miike
  • #747
  • Mar 4, 2012 12:51pm Mar 4, 2012 12:51pm
I hope everyone had a great weekend and ready to make some pips this week!!
Please ask questions and share your experiences with us all!
  • #748
  • Mar 4, 2012 3:38pm Mar 4, 2012 3:38pm
Quoting bkg102665
I hope everyone had a great weekend and ready to make some pips this week!!
Hi bkg...

If you got a chance, please have a look at GBP/USD. In my chart it is below SMA10 and SMA200, what do you think? Please let me know your opinion. Thanks... http://www.forexfactory.com/images/editor/smilie.gif
To excel by continuous learning
  • #749
  • Mar 4, 2012 4:19pm Mar 4, 2012 4:19pm
Quoting PeepCzar
Hi bkg...

If you got a chance, please have a look at GBP/USD. In my chart it is below SMA10 and SMA200, what do you think? Please let me know your opinion. Thanks... http://www.forexfactory.com/images/editor/smilie.gif
Lets wait and see where price opens up. If it opens below the 10sma then I would have to say yes it is a valid trade.
Please ask questions and share your experiences with us all!
  • #750
  • Mar 4, 2012 5:15pm Mar 4, 2012 5:15pm
So looking at the e/u now, 3-4-12 what are your feelings? It has been below 10 ema for a few days...1.3163 support or so and the gap there on the 4 hour chart, when would you take this trade if at all?
  • #751
  • Mar 4, 2012 5:38pm Mar 4, 2012 5:38pm
Quoting mark cooper
So looking at the e/u now, 3-4-12 what are your feelings? It has been below 10 ema for a few days...1.3163 support or so and the gap there on the 4 hour chart, when would you take this trade if at all?
It is too far from the 10sma. DO NOT trake it!
Please ask questions and share your experiences with us all!
  • #752
  • Mar 4, 2012 5:47pm Mar 4, 2012 5:47pm
Hi Guys,

I like the look of the GU and have shorted.

It opened below the 10 SMA and 200 SMA, looks to be heading south to test the 1.5646 support.

Cheers,
Miike
Attached Image (click to enlarge)
Click to Enlarge Name: GU.jpg Size: 96 KB
  • #753
  • Mar 4, 2012 6:21pm Mar 4, 2012 6:21pm
Hi Miike,

Before express my idea, i would emphasize i am not a good trader so far. The following is just my 2 cents.

For the GU pair, I am also looking at this pair, however i would want to look a bit long.

Reason:

1) Daily trend up (higher high, lower low)

2) Weekly ranging, however, last week close above 1.5829, actually 2/27, 2/28 and Friday all close above 1.5829. If it close more below 1.5826, i would feel better. At this time, i would assume the 1.5829 is a support, i don't see a close below it

3)Today is Monday, whether a return back to 1.5900 (Monday sometimes will give a retrace)

Basically, i would wait to see

1) how Candle actions at 1.5900, if retrace back

2) More better, if 1.60 met, how candle actions there.



Quoting miike
Hi Guys,

I like the look of the GU and have shorted.

It opened below the 10 SMA and 200 SMA, looks to be heading south to test the 1.5646 support.

Cheers,
Miike
Outcome is not important at all, but correct technique is what only matters
  • #754
  • Mar 4, 2012 7:54pm Mar 4, 2012 7:54pm
did any one take that trade.... eujpy.....thanks texan
  • #755
  • Mar 4, 2012 8:19pm Mar 4, 2012 8:19pm
Thanks for you tips.

There is always analysis that you can apply which will contradict any position. If you use other analysis as indicators against this system which does not use them, you are not going to have any consistency with your trading.

Given the conditions of this strategy, I see going short a valid trade.

If it goes well or not if up to the market. All I can do is make sure I have used the strategy correctly, implemented good MM and monitor for any unexpected events for a reversal.

Currently heading down and is +19 pips. I expect a test of support at 1.58009 / 1.5798 area, if it breaks, I expect to start heading down to 1.5646. Alternatively, it could also hit the 1.58009 / 1.5779 support area's and reverse.

Cheers,
Miike


Quoting szpowerx
Hi Miike,

Before express my idea, i would emphasize i am not a good trader so far. The following is just my 2 cents.

For the GU pair, I am also looking at this pair, however i would want to look a bit long.

Reason:

1) Daily trend up (higher high, lower low)

2) Weekly ranging, however, last week close above 1.5829, actually 2/27, 2/28 and Friday all close above 1.5829. If it close more below 1.5826, i would feel better. At this time, i would assume the 1.5829 is a support, i don't see a close below it

3)Today is Monday, whether...
  • #756
  • Mar 4, 2012 8:25pm Mar 4, 2012 8:25pm
Quoting Texan
did any one take that trade.... eujpy.....thanks texan
Hi Texan,

I've had a look at your trade. To be a valid trade with this strategy, the rebound off a resistance / support needs to occur prior to the 10 SMA cross.

Can you provide a screen shot of your analysis.

My S/R levels are in the attached screenshot, although a bit overkill.

Cheers,
Miike
Attached Image (click to enlarge)
Click to Enlarge Name: EJ.jpg Size: 99 KB
  • #757
  • Mar 4, 2012 8:27pm Mar 4, 2012 8:27pm
Hi Mike,

Basically, i agree with your analysis.

I may express my idea a bit not clear. Actually, i follow this thread's rule.

To my understanding for this system, two criterias should be matched:

1)Candle closed below daily candle (Down case). This is a perfect match

What would cause argument would be the second issue
2) Sell at resistance, while buy at support

I would take the 1.5826 as a big support. I.e. this is a sell at support to what i think.

Emphasize again, i don't mean to defy anybody's idea, just express a bit of my 2 cents during my learning. Thanks!

I don't want to argue you are not correct to put this entry, i just put my 2 cents as my learning curve grows.

B.R.
Raymond




Quoting miike
Thanks for you tips.

There is always analysis that you can apply which will contradict any position. If you use other analysis as indicators against this system which does not use them, you are not going to have any consistency with your trading.

Given the conditions of this strategy, I see going short a valid trade.

If it goes well or not if up to the market. All I can do is make sure I have used the strategy correctly, implemented good MM and monitor for any unexpected events for a reversal.

Currently heading down and is +19 pips....
Outcome is not important at all, but correct technique is what only matters
  • #758
  • Mar 4, 2012 8:33pm Mar 4, 2012 8:33pm
Hi szpowerx,

Fair enough,

S/R level are subjective.

For my resistance, you can refer to the daily march and april 2011 periods.

Time will tell

Cheers,
Miike

Quoting szpowerx
Hi Mike,

Basically, i agree with your analysis.

I may express my idea a bit not clear. Actually, i follow this thread's rule.

To my understanding for this system, two criterias should be matched:

1)Candle closed below daily candle (Down case). This is a perfect match

What would cause argument would be the second issue
2) Sell at resistance, while buy at support

I would take the 1.5826 as a big support. I.e. this is a sell at support to what i think.

I don't want to argue you are not correct to put this entry, i just put my...
  • #759
  • Mar 4, 2012 9:42pm Mar 4, 2012 9:42pm
miike.......i am using bks alert inducator arrow downpn my chart and email . also using the ea for s/r.........
Would you mind posting you s/r inducator .. i do not have a good one ,,,,,,,,,,thanks Texan
  • #760
  • Mar 4, 2012 10:30pm Mar 4, 2012 10:30pm
Quoting Texan
miike.......i am using bks alert inducator arrow downpn my chart and email . also using the ea for s/r.........
Would you mind posting you s/r inducator .. i do not have a good one ,,,,,,,,,,thanks Texan
Hi Texan,

I use the BKG indicator sometime on my home laptop.

On my server (vps) where my trades occur and I take captures from work, I do not use an EA. My S/R lines are manual.

Be aware that even the BKG EA will need manual changes to S/R.

Cheers,
Miike
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