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Daily Chart w/ 10sma

  • #781
  • Mar 5, 2012 5:20pm Mar 5, 2012 5:20pm
Quoting cmmichaels
Anyone thinking of a long on USD/CAD? looks alright to me
I`m already long from 0.9875 tp@ 0.9965
  • #782
  • Mar 5, 2012 5:21pm Mar 5, 2012 5:21pm
Quoting cmmichaels
Let me show you why I liked it there was a lot of chop but we had a fake out right at the top that cleared the highs of the range gives more of a bias to break the low of the range
There is a strong support at 1,0630 wait for it. Well spoted Chicajudy
Attached Image (click to enlarge)
Click to Enlarge Name: aud usd.gif Size: 43 KB
swing it!
  • #783
  • Mar 5, 2012 5:27pm Mar 5, 2012 5:27pm
Quoting Istee
I`m already long from 0.9875 tp@ 0.9965
Ok, i am going to short it.

Since i have one position open and not at BE, so i will wait. However i am looking for a short for this pair.
Outcome is not important at all, but correct technique is what only matters
  • #784
  • Mar 5, 2012 5:28pm Mar 5, 2012 5:28pm
Why are you going to short it?
  • #785
  • Mar 5, 2012 5:29pm Mar 5, 2012 5:29pm
the 66.65 is a big support, wait for this to be broken.

Of course, chance are still there, it would be reversed by the 66.65 support.

Quoting szpowerx
I know this is a bit earlier, not close yet.

But can we assume it would be closed below 10sma?

66.65 is a big support in weekly, if you enter now, you have to take the risk for short at support

However, looks like deserve a try, 1st target: 65 2nd target 63.5
Outcome is not important at all, but correct technique is what only matters
  • #786
  • Mar 5, 2012 5:30pm Mar 5, 2012 5:30pm
Quoting tomspin
There is a strong support at 1,0630 wait for it. Well spoted Chicajudy
agreed cheers for the post and it is going to get hairy but because of the fake out above to shake out the longs I'm hoping for a break of the range if not should still be in profit for a close at that level
  • #787
  • Mar 5, 2012 6:31pm Mar 5, 2012 6:31pm
Buy USD/CAD at 0,9943 SL 0,9917 and TP 1,0050
Buy GBP/CAD at 1,5795 SL 1,5755 and TP 1,5890

Good luck everybody
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd cad.gif Size: 16 KB
Click to Enlarge Name: gbp cad.gif Size: 18 KB
swing it!
  • #788
  • Mar 6, 2012 12:10am Mar 6, 2012 12:10am
Took a short Monday open on the AUD/USD when it opened below the 10sma. 100+ pips up from yesterday. Moved S/L to + 50. Reaching support at 1.0615 which may be broken for further down trend.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.gif Size: 18 KB
  • #789
  • Mar 6, 2012 12:43am Mar 6, 2012 12:43am
Quoting don555
Mike where did you see the too much resistance that you were talking about
which made you close the trade

Hi Don555,

Been out and about today.

BKG is spot on with why I got out of the trade.

Was the right decision in the end

Cheers,
Miike
  • #790
  • Mar 6, 2012 12:50am Mar 6, 2012 12:50am
Hi Guys,

Don't get too trigger happy, make sure that the ducks line up as per the BKG requirements for a valid signal.

I made 3 trades today:

1. NZDJPY, SELL 66.90, SL: 66.800, Open TP.
2. USDCAD, BUY 0.9954, SL 0.9819, TP 1.0050.
3. GPBCAD, BUY 1.5797, SL 1.5755, TP 1.5890.

Happy Trading.

Cheers,
Miike
  • #791
  • Edited 2:54am Mar 6, 2012 2:15am | Edited 2:54am
Great trading everyone my trades this week

closed GBP/USD -29.6
closed EUR/JPY +1.6
AUD/USD currently +105
NZDUSD +127
USD/CAD +14

Moved stops to +50. I noticed you guys are trading some of the more exotic crosses I've stopped looking at them because of the erratic behaviour how are you finding them?

This is great thread good work everyone especially BKG

All the best.
  • #792
  • Mar 6, 2012 3:39am Mar 6, 2012 3:39am
NZDJPY, MOVE SL +5 pips, free run

Last week I found BKG's this thread, 10sma is a good filter.

Actually, i liked BKG's trendline thread too, that one is also an awesome one.

I have three entreis trigged by 10sma cross so far, eurusd, usdchf, nzdjpy. All three are free run.

Combined with support/resistance, price action, trend, the 10sma would be a good trigger/filter.

This method is really simple, but not easy (I would assume this point).

Wish everybody good luck!
Quoting szpowerx
the 66.65 is a big support, wait for this to be broken.

Of course, chance are still there, it would be reversed by the 66.65 support.
Outcome is not important at all, but correct technique is what only matters
  • #793
  • Mar 6, 2012 3:51am Mar 6, 2012 3:51am
Quoting cmmichaels
Great trading everyone my trades this week

closed GBP/USD -29.6
closed EUR/JPY +1.6
AUD/USD currently +105
NZDUSD +127
USD/CAD +14

Moved stops to +50. I noticed you guys are trading some of the more exotic crosses I've stopped looking at them because of the erratic behaviour how are you finding them?

This is great thread good work everyone especially BKG

All the best.
I canceled my GBP/CAD trade -30
I follow BKG rules and look at almost everything I have. More exotic pairs mean bigger spread at least for me. It is allright I guess as long as signal is valid and there is 50+ return in horizon.
I also found that this amazing strategy works best in trending market not necessarly in ranging conditions am I right?
For example I took amazing trade on NZD/CHF two days ago and took about 200 pips in total. Ride it from res to sup however ma cross occurred almost in the middle of the trade and I made my decision to go short because of heavy res and specific candle formation.
Same thing in EUR/AUD from 1,2314 +118 atm and cross is coming about now.

Combine two and you have a winner.
This strategy is great and should not be changed imo, just follow basic rules, take care of your MM, look at RR and the system will do the rest.
I started in FX as a scalper and blew two accounts, overtrading big time. This tread changed everything in my aproach to trading.

And made me a better trader

Thank You
swing it!
  • #794
  • Mar 6, 2012 3:54am Mar 6, 2012 3:54am
The Yen is having a good day against all currencies, looking good for entries to-morrow?
  • #795
  • Mar 6, 2012 4:20am Mar 6, 2012 4:20am
Quoting lizpet
The Yen is having a good day against all currencies, looking good for entries to-morrow?
USDJPY is looking promising. Strong bearish candle under the 10sma. Buyers are currently rising the price a bit so lets see how it closes tomorrow.
  • #796
  • Mar 6, 2012 4:36am Mar 6, 2012 4:36am
Quoting tomspin
I canceled my GBP/CAD trade -30
I follow BKG rules and look at almost everything I have. More exotic pairs mean bigger spread at least for me. It is allright I guess as long as signal is valid and there is 50+ return in horizon.
I also found that this amazing strategy works best in trending market not necessarly in ranging conditions am I right?
For example I took amazing trade on NZD/CHF two days ago and took about 200 pips in total. Ride it from res to sup however ma cross occurred almost in the middle of the trade and I made my decision to go...

cheers for the reply interesting thoughts, I do look at a couple or crosses EUR/JPY and EUR/GBP its just most the good traders I've heard about don't trade any crosses other than as they feel they move differently but I might start looking at a few for this method I was also looking at some metals and oil and index last night as well could also work I'll keep you posted.
I'm at +360 for my trades since Sunday at the moment so things are looking good, I like the USD/CAD trade as well as that had extra bias for me because of the inverse correlation between S&P and the S&P looked like it was ready for a drop which means we should see a shoot up in USD/CAD ... whammy
I like this strategy just wait for the good set ups then pounce like a sex panther. I was seeing how many anchorman quotes I could get in there did alright.
  • #797
  • Mar 6, 2012 5:07am Mar 6, 2012 5:07am
Quoting cmmichaels
[font=Helv][size=2][font=Helv][size=2]
cheers for the reply interesting thoughts, I do look at a couple or crosses EUR/JPY and EUR/GBP its just most the good traders I've heard about don't trade any crosses other than as they feel they move differently but I might start looking at a few for this method I was also looking at some metals and oil and index last night as well could also work I'll keep you posted.
I'm at +360 for my trades since Sunday at the moment so things are looking good, I like the USD/CAD trade as well as that had extra bias for...
Yes mate two weeks ago I grab 650 pips. About crosses I would say look at the corelation table right here
http://www.forexticket.us/en/tools/01-01-correlation
try to avoid trades like buy USD/CHF and EUR/USD at the same time and everything should be fine
btw I am selling most aussie pairs atm
I am still newbie thanks for s&p info did not know that as I am still a baby in FX who just started to crawl

good luck
swing it!
  • #798
  • Mar 6, 2012 7:04am Mar 6, 2012 7:04am
I've locked in +100 on my aud & nzd now usd/cad still churning
  • #799
  • Mar 6, 2012 7:16am Mar 6, 2012 7:16am
Quoting tomspin
Yes mate two weeks ago I grab 650 pips. About crosses I would say look at the corelation table right here
http://www.forexticket.us/en/tools/01-01-correlation
try to avoid trades like buy USD/CHF and EUR/USD at the same time and everything should be fine
btw I am selling most aussie pairs atm
I am still newbie thanks for s&p info did not know that as I am still a baby in FX who just started to crawl

good luck
your link is wonderful... tq

for the past 5-6 days...
oz is weak
usd strong...
jpy is turning strong...
most times i observe usd, oz and jpy pairs...
then follow the trend to trade
my 2 cents

oz and nz move fast but
it is 4th day, oz/cad is crawling

cheers
Attached Image (click to enlarge)
Click to Enlarge Name: ozcad.gif Size: 20 KB
  • #800
  • Mar 6, 2012 7:20am Mar 6, 2012 7:20am
Quoting sniperfxmy
your link is wonderful... tq

for the past 5-6 days...
oz is weak
usd strong...
jpy is turning strong...
most times i observe usd, oz and jpy pairs...
then follow the trend to trade
my 2 cents

oz and nz move fast but
it is 4th day, oz/cad is crawling

cheers
The AUDCAD can be a slow one. And it is carry negative. However this trade is going your way so stick with it. Any profit - even from a slow burner, is better than hitting your stoploss anytime

Olu
If you think you can or cannot do it you are correct
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