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  • #6,801
  • Mar 26, 2012 3:38am Mar 26, 2012 3:38am
Quoting emmanuel7788
Hi,

Trade open after Tokyo early session H4 closed provided a good bearish engi=ulfing pattern setup.
I am trading a possible retracemement of last friday rally.
See my other post #6792.
Expect to see support near 1.3220.
Got to manage to maximise profit for this one. This retracement may turn into a reversal for the rest of this week. We shall see how it will play out.

Note the time changed fro LO today due to DST.

regards,
Just partial exit 1.3239. + 44pips 1.8R trade.

Still need to wait to see if this will be reversal if weekly pivot now act as resistance.
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,802
  • Mar 26, 2012 4:27am Mar 26, 2012 4:27am
Quoting emmanuel7788
Just partial exit 1.3239. + 44pips 1.8R trade.

Still need to wait to see if this will be reversal if weekly pivot now act as resistance.
I just wanted to say that I enjoy reading your posts - always well thought and clearly explaining what you're doing ... I may not post much, but I'm always reading!

Interesting morning, I really thought the positive news out of Euro would bounce it higher - but that would be too logical! Your sell call looks like it worked out very well for you, congrats.

Looks like it's slowing down a little now ... I note that Bernanke and Draghi are speaking later, so it may go a bit muted until they speak ... but who knows.
1 pip at a time ... if the entries are strong, the rest will follow ...
  • #6,803
  • Mar 26, 2012 4:29am Mar 26, 2012 4:29am
Hi traders

Here are my 3 trades for the day...

+ 88 pips

Im starting to understand the process.. Patience is key...
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  • #6,804
  • Mar 26, 2012 4:33am Mar 26, 2012 4:33am
Quoting endy231
Am Waiting for the close of this candle to enter for a buy EURUSD 15mins timeframe

Pros are my missing anything
It might help also if you say why you are thinking of entering there e.g. proven S-R level, TL, round number, fib etc etc. There was a series of lower highs and lower lows that followed after the 3280 level/62% fib held (admittedly over Asian session). That does not suggest a move up, until of course you hit a potential area where you feel the big boys will be interested.
  • #6,805
  • Mar 26, 2012 5:40am Mar 26, 2012 5:40am
Quoting Vantage
It might help also if you say why you are thinking of entering there e.g. proven S-R level, TL, round number, fib etc etc. There was a series of lower highs and lower lows that followed after the 3280 level/62% fib held (admittedly over Asian session). That does not suggest a move up, until of course you hit a potential area where you feel the big boys will be interested.
Looks like 1.3200 was that level of interest for some big boys, within a short period of time we are over 40 pips up.

Same for gbpusd, couldn't break 1.5800 and skyrocketed more than 60 pips.
  • #6,806
  • Mar 26, 2012 6:04am Mar 26, 2012 6:04am
Quoting Liberum
Looks like 1.3200 was that level of interest for some big boys, within a short period of time we are over 40 pips up.

Same for gbpusd, couldn't break 1.5800 and skyrocketed more than 60 pips.

well, after cleaning out all the technical stops, it will decide later this week' direction.
still not clear yet

eurusd -1.3120
gbpusd -1.5725???
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,807
  • Mar 26, 2012 7:21am Mar 26, 2012 7:21am
Bernanke effect?
  • #6,808
  • Mar 26, 2012 7:41am Mar 26, 2012 7:41am
Quoting Vantage
It might help also if you say why you are thinking of entering there e.g. proven S-R level, TL, round number, fib etc etc. There was a series of lower highs and lower lows that followed after the 3280 level/62% fib held (admittedly over Asian session). That does not suggest a move up, until of course you hit a potential area where you feel the big boys will be interested.
To be truthful i just followed xman system blindly and didnt border about fibs, TL etc
  • #6,809
  • Mar 26, 2012 8:41am Mar 26, 2012 8:41am
Quoting endy231
To be truthful i just followed xman system blindly and didnt border about fibs, TL etc
Lesson learnt early then.

X man's system is 1hr and even then he goes to great lengths to talk about price action etc etc etc. Somebody posted here (and I'll never forget it) the reason why most ea's fail is taking every signal as a trade. The diff's between signals and trades are all the general stuff that people talk about regularly i.e. trend, S/R levels etc etc etc.

SR levels are key (repeating myself I know) always have been always will be. With that in mind have a look at both the eur and gu charts. Gu (for me) had a much clearer support level looking back at lows over last 5 days.
  • #6,810
  • Mar 26, 2012 8:56am Mar 26, 2012 8:56am
Quoting antantnz
I just wanted to say that I enjoy reading your posts - always well thought and clearly explaining what you're doing ... I may not post much, but I'm always reading!

Interesting morning, I really thought the positive news out of Euro would bounce it higher - but that would be too logical! Your sell call looks like it worked out very well for you, congrats.

Looks like it's slowing down a little now ... I note that Bernanke and Draghi are speaking later, so it may go a bit muted until they speak ... but who knows.

Hi antantnz

thanks.
sure it is a fast and furious monday. everything just happen so fast, no time to think so just act as plan.
it helps to have a plan in place well ahead in time and not wait for TDI cross, APB pullback bar, etc.

Now price has moved too fast and now I see 1.3320 pause. Wait and see where will be a base for next move up to 1.3450. Waiting for a price pullback is better idea as there will be stops below and need to see how these will be cleared.

trade with care!
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,811
  • Mar 26, 2012 10:52am Mar 26, 2012 10:52am
This must not be normal!

+200 pips on the EU,EJ,GU, and AU @ +50 pips per pair.

Still trading on a demo but this is very encouraging results.
  • #6,812
  • Mar 26, 2012 11:11am Mar 26, 2012 11:11am
Quoting IBaim
This must not be normal!

+200 pips on the EU,EJ,GU, and AU @ +50 pips per pair.

Still trading on a demo but this is very encouraging results.
REally great! Congratulations
  • #6,813
  • Mar 26, 2012 11:46am Mar 26, 2012 11:46am
Short on G/U at 1.5942
SL 1.6005
PT1.5660
I shall leave this trade for two/ tree days with trailing stop set at 50 pips once in profit for that amount.
Make sure losses are small and profits are bigger!
  • #6,814
  • Mar 26, 2012 7:15pm Mar 26, 2012 7:15pm
Took this trade yesterday when closed above the resistance. I think the setup is self explanatory.
Attached Image (click to enlarge)
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Forex is boring but profitable with patience and discipline
  • #6,815
  • Mar 26, 2012 7:30pm Mar 26, 2012 7:30pm
Quoting prftablefool
Took this trade yesterday when closed above the resistance. I think the setup is self explanatory.
Nice Trade!
I hope it gets all the way up to that TP for ya...
  • #6,816
  • Mar 26, 2012 7:31pm Mar 26, 2012 7:31pm
Quoting prftablefool
Took this trade yesterday when closed above the resistance. I think the setup is self explanatory.
hi prftable,
well done on the trade. I just wanted to clarify your entry. I noticed the entry candle (assuming where the arrow is pointing) is more than 3 candles after the upward TDI cross (green crossing red).
However, was your entry signal when TDI crossed the market line?
I am learning the trade so this could be a very stupid question!
  • #6,817
  • Mar 26, 2012 7:51pm Mar 26, 2012 7:51pm
Quoting flash4
hi prftable,
well done on the trade. I just wanted to clarify your entry. I noticed the entry candle (assuming where the arrow is pointing) is more than 3 candles after the upward TDI cross (green crossing red).
However, was your entry signal when TDI crossed the market line?
I am learning the trade so this could be a very stupid question!
Every TDI cross doesn't result into a profitable trade. TDI simply generate a signal but it doesn't necessarily means a valid setup. Look at the charts closely and you will find many TDI crosses failed very often regardless of its angle.

I don't follow the rule of number of candles by any means. I try to pay more attention to PA than TDI itself. In this particular case I noticed a resistance at 86.34 (red line). I was waiting for price to clear this area and as soon it closed above it, I took the trade as now there was lot of space for the price to make a run.

Hope this helps.

P.S. Always watch for PA and enough space for price to run. Price at the moment is currently stalling not simply becoz TDI is in 68 region but becoz its fib and a minor resistance on left side of the chart.
Forex is boring but profitable with patience and discipline
  • #6,818
  • Mar 26, 2012 7:55pm Mar 26, 2012 7:55pm
Quoting prftablefool
Every TDI cross doesn't result into a profitable trade. TDI simply generate a signal but it doesn't necessarily means a valid setup. Look at the charts closely and you will find many TDI crosses failed very often regardless of its angle.

I don't follow the rule of number of candles by any means. I try to pay more attention to PA than TDI itself. In this particular case I noticed a resistance at 86.34 (red line). I was waiting for price to clear this area and as soon it closed above it, I took the trade as now there was lot of space for the...
thanks for the insight, thats great!
  • #6,819
  • Mar 26, 2012 7:57pm Mar 26, 2012 7:57pm
Quoting 2be
Short on G/U at 1.5942
SL 1.6005
PT1.5660
I shall leave this trade for two/ tree days with trailing stop set at 50 pips once in profit for that amount.

Hi 2be,

I don't see any S3 H4 type setup.
Can you share your thoughts why you took this trade and how you derive the 50pips as trailing stop for current market type.

Thanks
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
  • #6,820
  • Mar 26, 2012 8:00pm Mar 26, 2012 8:00pm
Quoting prftablefool
Took this trade yesterday when closed above the resistance. I think the setup is self explanatory.

Good trade mate!
I don't see major resistance on the way up. Perhaps some hesitation between 87.30 and 87.56 ...profit taking by some short term traders.
Aussie on the rise again with CNY fiscal support
Honesty is a very expensive gift. You wont find it in cheap people.WBuffett
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