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  • #3,121
  • Mar 28, 2012 2:58pm Mar 28, 2012 2:58pm
Quoting BadgerMatt
I also have an order to go long on EUR/USD off a retest of the 1.3285 level. It has 6 recent touches as resistance and also has fib confluence.

I also took the E/U trade, and exited at 1.3316 at the previous lows for a nice quick 31 pips (just under 1R). I make it 7 pips drawdown this time. That was a level just begging to be taken on the retest in my opinion!

Trader_dscha - where did you exit?
  • #3,122
  • Mar 28, 2012 3:04pm Mar 28, 2012 3:04pm
Quoting APeng
Quite well, so far
I am still in both trades.
Hi APeng,

just a thought; if you short usdchf AND long eu, you are basically carrying double your risk.
  • #3,123
  • Mar 28, 2012 3:05pm Mar 28, 2012 3:05pm
Good work Matt, the dd on EU was very nice.
  • #3,124
  • Mar 28, 2012 3:06pm Mar 28, 2012 3:06pm
Quoting BadgerMatt
I also took the E/U trade, and exited at 1.3316 at the previous lows for a nice quick 31 pips (just under 1R). I make it 7 pips drawdown this time. That was a level just begging to be taken on the retest in my opinion!

Trader_dscha - where did you exit?
3312
  • #3,125
  • Mar 28, 2012 3:22pm Mar 28, 2012 3:22pm
Hi guys & gals

My EU trade went into SL by 0.4pips. I would have thought the EJ was a no trade as while it was a good level it was support last time and we are suppose to buy into resistance.

Regards Flash
  • #3,126
  • Mar 28, 2012 3:45pm Mar 28, 2012 3:45pm
Quoting novice198
Hi Guys,

Am I correct in spotting a 4H SFP on the EURAUD (1.2836).

Cheers
novice198

Novice198 - I am not sure exactly what you are looking at but I don't see an SFP. Remember the first swing point must be at the extreme point of a significant swing. I can't see a significant swing in your area highlighted in blue.

Regards, Matt
  • #3,127
  • Mar 28, 2012 3:55pm Mar 28, 2012 3:55pm
Quoting Flash1
Hi guys & gals

My EU trade went into SL by 0.4pips. I would have thought the EJ was a no trade as while it was a good level it was support last time and we are suppose to buy into resistance.

Regards Flash
What am I missing flash? I only see previous resist last (see red circle), now supt.
Attached Image (click to enlarge)
Click to Enlarge Name: ej supt.jpg Size: 90 KB
  • #3,128
  • Mar 28, 2012 5:40pm Mar 28, 2012 5:40pm
Quoting trader_dscha
3312
Nice to know someone else thought the FTA was in a similar position to me!


Quoting sam0182
Gotta love these straight forward FTB trades
Some of the ones we've had recently have been absolute beauties! Keep 'em coming!
  • #3,129
  • Mar 28, 2012 5:41pm Mar 28, 2012 5:41pm
Quoting BadgerMatt

Some of the ones we've had recently have been absolute beauties! Keep 'em coming!
Absolutely.
  • #3,130
  • Mar 28, 2012 6:18pm Mar 28, 2012 6:18pm
Quoting sam0182
What am I missing flash? I only see previous resist last (see red circle), now supt.
Hi Sam

I missed resistance by a few pips and called it wrong. Forgot to think of the area as a zone instead of an exact number. Nice trade

Regards Flash
  • #3,131
  • Mar 28, 2012 6:26pm Mar 28, 2012 6:26pm
Quoting Flash1
Hi Sam

I missed resistance by a few pips and called it wrong. Forgot to think of the area as a zone instead of an exact number. Nice trade

Regards Flash
Sure, it all depends on how you look at it. I'm definitely more of a zone guy (although not as much as some of the other posters here). I try not to be too anal about the level but certainly don't like trading mush.

IMO, this EJ setup was just right.

Good for asking the question, nice to double check...wouldn't have been the first time I overlooked a quick retrace and gave a setup more credit than was due.
  • #3,132
  • Mar 29, 2012 12:13am Mar 29, 2012 12:13am
EUR/AUD up and coming, solid level.

**It is a cross**
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.jpg Size: 63 KB
  • #3,133
  • Mar 29, 2012 12:18am Mar 29, 2012 12:18am
Quoting trader_dscha
Hi APeng,

just a thought; if you short usdchf AND long eu, you are basically carrying double your risk.
Yes, thatīs a thought I had myself, too. I trade half of my normal positions for each trade to go only for 2 % as usual. In this way I think the risk is even less, because I trade to different charts with different characteristics (SL,TP, different levels and so on).
  • #3,134
  • Mar 29, 2012 1:06am Mar 29, 2012 1:06am
Quoting APeng
Yes, thatīs a thought I had myself, too. I trade half of my normal positions for each trade to go only for 2 % as usual. In this way I think the risk is even less, because I trade to different charts with different characteristics (SL,TP, different levels and so on).
  • #3,135
  • Mar 29, 2012 1:08am Mar 29, 2012 1:08am
Next on the block.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: uj short.jpg Size: 59 KB
  • #3,136
  • Mar 29, 2012 2:40am Mar 29, 2012 2:40am
I'm reading along folks. Keep up the good work. It's a very good market at the moment :-)
  • #3,137
  • Mar 29, 2012 9:04am Mar 29, 2012 9:04am
I don't normally trade SFPs but couldn't resist getting caught up in the hype this week!

I'm currently long the AUD/USD SFP. Still just about hanging on in there after just narrowly avoiding closing below it. Let's see whether it comes good....
  • #3,138
  • Mar 29, 2012 9:11am Mar 29, 2012 9:11am
Quoting BadgerMatt
I don't normally trade SFPs but couldn't resist getting caught up in the hype this week!

I'm currently long the AUD/USD SFP. Still just about hanging on in there after just narrowly avoiding closing below it. Let's see whether it comes good....
If it's not performing, don't be afraid to cut it. There is no room for stubborness. The best SFP's often show momentum fairly quickly as trapped traders pay up to get out.
  • #3,139
  • Mar 29, 2012 10:04am Mar 29, 2012 10:04am
Quoting the_wizard
If it's not performing, don't be afraid to cut it. There is no room for stubborness. The best SFP's often show momentum fairly quickly as trapped traders pay up to get out.

Yep, I agree and I'm now out.
  • #3,140
  • Edited 3:20pm Mar 29, 2012 2:59pm | Edited 3:20pm
I just wrestled with this position for over 7 hours, was a SFP albeit a littlier one - H1, might have took it a little early in hindsight considering the minor inverse level PA seemed to have reacted to below, but could see it was ramming into some nasty pending orders. maybe smart money getting some? Not sure im expecting it to go much higher but will take something out the market ahem. Chart below for reference.

On a seperate note Tom thank for that little golden nugget in the last special webinar was a real eye opener so far!. I can imagine how those 5 min Q and A's with those pros was for you at the prop firm, fooking hell. So much Skull Dugery in the markets.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.gif Size: 15 KB


P.S The sentimant looks bearish because of the daly SFP bogey above giving me more cautious planning to exit quick.

Sorry the discussion above isn't more rule based with level numbers etc, hence throwing up the chart, but im trying to learn to FEEL price becoming one with her. ;-)
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