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Extreme TMA System

  • #3,381
  • Mar 5, 2012 7:06am Mar 5, 2012 7:06am
Someone watching a short on GBPUSD right now?

L.
  • #3,382
  • Edited 7:13am Mar 5, 2012 7:06am | Edited 7:13am
Quoting normtold
Thanks for the reply.

Yes the midline is approaching the R3 line.
You are correct I should not have taken the trade because of what Al said about Risk on.
But as a newbie I took the trade before Al commented on not going short on USD.

So I had already taken a position at R3 took another short at R4 later so overall the positions are profitable.

Just wondering in broken resistance can turn into support.
Yes as far as I'm understanding its possible (though Al said that a pierced resistance loses part of its strenght if easily pierced and so it loses strenght as support too after it's been bypassed) Further more you have the midline that often plays as support (in uptrends especially) . So IMHO you must be prepared to close the trade if you see hesitation when approaching both of them



added: one more reason to stay in guard....futures on SP500 and DJ are down this usually drives a USD up so....as we are near to the open.....
  • #3,383
  • Mar 5, 2012 7:10am Mar 5, 2012 7:10am
Quoting jaau
Someone watching a short on GBPUSD right now?

L.
Yes. Would love to short a break of the band with the trend, watching GBP/JPY too.
  • #3,384
  • Mar 5, 2012 7:12am Mar 5, 2012 7:12am
Quoting imbonitore
Anyone who is interested can make a group where anyone can put their chart and the live trading with this system .... can apply 200 participants ... all free

www.anymeeting.com
Yeah! Al set up a trading room where we can all chat in real time!
  • #3,385
  • Mar 5, 2012 7:14am Mar 5, 2012 7:14am
Quoting jaau
Someone watching a short on GBPUSD right now?

L.
I am watching it but was looking at 1.05871, FPV.
  • #3,386
  • Mar 5, 2012 7:14am Mar 5, 2012 7:14am
Quoting Jemook
Yeah! Al set up a trading room where we can all chat in real time!
This was done on the Freebie system by Dredding (a not too dissimilar system) and worked really well by keeping chit chat in the chat room and important posts, screenshots of set ups etc in the actual post.

Posts do get bogged down with the same stuff over and over, this might be a nice idea.
  • #3,387
  • Mar 5, 2012 7:16am Mar 5, 2012 7:16am
Apocalyptic event is when someone makes it unbearably total that he is right and no one can dispute it.
With a little demonstration of Dolce Vita.
I'm looking at those new-born and thinking -
God help you.
  • #3,388
  • Mar 5, 2012 7:16am Mar 5, 2012 7:16am
Quoting istvan
I am in EURUSD, GBPUSD, EURAUD and EURCAD. Will let it run to profit for as long as it takes following the recovery method. Lotsize 0.01 each trade. When all 4 are closed I will let you know how it went.
Live account lotsize 0.01 result in 3 hours after entry:
Long EURUSD profit + 30p exit
Long GBPUSD profit + 29p exit
Short EURAUD loss - 18p still running
Short EURCAD loss - 15p still running
  • #3,389
  • Mar 5, 2012 7:17am Mar 5, 2012 7:17am
Quoting corvogrigio
Yes as far as I'm understanding its possible (though Al said that a pierced resistance loses part of its strenght if easily pierced and so it loses strenght as support too after it's been bypassed) Further more you have the midline that often plays as support (in uptrends especially) . So IMHO you must be prepared to close the trade if you see hesitation when approaching both of them



added: one more reason to stay in guard....futures on SP500 and DJ are down this usually drives a USD up so....as we are near to the open.....
Thanks, I appreciate your viewpoint and the heads up re: the futures.

I have closed 1/3 of the total postition, moved 1/3 to breakeven + 6.

Editing to add, I have a GBP/JPY long (again taken before Risk off advice), closed 1/2 for 36 because price is near BRN 129.000,is that right, there is a good chance price will bounce off the BRN?
  • #3,390
  • Mar 5, 2012 7:17am Mar 5, 2012 7:17am
Quoting normtold
I am watching it but was looking at 1.05871, FPV.
I agree!

L.
  • #3,391
  • Mar 5, 2012 7:22am Mar 5, 2012 7:22am
USD/CHF looks like an interesting long at the pivot. Got the round number 10 pips below that. GBP/JPY looking really interesting now.
  • #3,392
  • Mar 5, 2012 7:27am Mar 5, 2012 7:27am
Quoting normtold
Bit of a newbie question here for anyone that wants to answer.

Looking at USD/CAD M15, price went through R3, hit R4 and is coming down, would R3 now turn into support? or would aiming for the top or middle line of the TMA still be a likely target?
Always, on a trade that goes more than 30 pips against you, change your TP to BE. Itīs a good habit to get into. It is very difficult to turn a loser into a winner and you shouldnīt try. So if you are close to BE, get out and try the next trade.
Observation is the path to discovery.
  • #3,393
  • Mar 5, 2012 7:29am Mar 5, 2012 7:29am
In your profile tables is there any particular reason why sometimes a buy is shown in green and sometimes in red?
  • #3,394
  • Mar 5, 2012 7:29am Mar 5, 2012 7:29am
Quoting jaau
Someone watching a short on GBPUSD right now?

L.
Yes. Waiting to reach the FPV if possible.
Observation is the path to discovery.
  • #3,395
  • Mar 5, 2012 7:34am Mar 5, 2012 7:34am
Quoting FocusedonFX
USD/CHF looks like an interesting long at the pivot. Got the round number 10 pips below that. GBP/JPY looking really interesting now.
You are right I had not looked at that chart. It scares me a bit when price is moving so fast to trade against it but will watch and see if there are signs it could bounce a bit.

GBP/JPY is through the BRN now.

Whare are you looking to short, I don't see ant Resistance nearby?
  • #3,396
  • Mar 5, 2012 7:36am Mar 5, 2012 7:36am
Quoting Alorente
Yes. Waiting to reach the FPV if possible.
I will enter EURUSD & GBPUSD a.s.a. the band of 200 ema or FPV is within a few pips. Both trades will be short lotsize 0.01 live micro account.
  • #3,397
  • Mar 5, 2012 7:41am Mar 5, 2012 7:41am
Quoting normtold
You are right I had not looked at that chart. It scares me a bit when price is moving so fast to trade against it but will watch and see if there are signs it could bounce a bit.

GBP/JPY is through the BRN now.

Whare are you looking to short, I don't see ant Resistance nearby?
I'll place an arbitrary stop. S1 should offer resistance though.
  • #3,398
  • Mar 5, 2012 7:42am Mar 5, 2012 7:42am
Im in
Attached Image (click to enlarge)
Click to Enlarge Name: GBPJPY-SELL.jpg Size: 199 KB
  • #3,399
  • Mar 5, 2012 7:46am Mar 5, 2012 7:46am
Quoting istvan
I will enter EURUSD & GBPUSD a.s.a. the band of 200 ema or FPV is within a few pips. Both trades will be short lotsize 0.01 live micro account.
In short GBPUSD within band FPV, 200 ema, 800 ema, day range now > 80p
  • #3,400
  • Mar 5, 2012 7:50am Mar 5, 2012 7:50am
In S - GbpUsd and L - UsdChf
Observation is the path to discovery.
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