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  • #25,381
  • Apr 2, 2012 12:25pm Apr 2, 2012 12:25pm
Quoting fxhermit
Support and resistance levels continue to be nicely printed by both pairs. Certainly am enjoying the JPY after not having traded it for a considerable period of time. Kind of refreshing for the ole brain to look at some new wiggles and squiggles LOL.

Euro bit me in the ass earlier on and made me give back a bunch of money so this one's a revenge trade of sorts . Really love that third time to the top pin bar - classic.
..........yep that in deed was a classic.......
The Chonchy
  • #25,382
  • Apr 2, 2012 12:32pm Apr 2, 2012 12:32pm
Quoting fxhermit
How nice to catch an impulse wave off a daily support level. This is proving to be an easy trade to manage (at least so far - fingers crossed ).

......hope you still on it........
The Chonchy
  • #25,383
  • Apr 2, 2012 12:36pm Apr 2, 2012 12:36pm
Quoting fxhermit
What's that you say Grasshopper? "Gaps always get filled, especially near S/R". Ah, you have learned your lesson well, Grasshopper. Remember to be nimble though - life is but a collection of fleeting moments.
..........So the GAP make you jump on this trade fxhermit, because the support was penetrated but the Gap make you take the trade, nice aproach, nice in deed........thanks fxhermit for the charts, very clean and simple, thanks a lot..........
The Chonchy
  • #25,384
  • Edited 2:56pm Apr 2, 2012 2:46pm | Edited 2:56pm
Quoting chonchy
..........So the GAP make you jump on this trade fxhermit, because the support was penetrated but the Gap make you take the trade, nice aproach, nice in deed........thanks fxhermit for the charts, very clean and simple, thanks a lot..........
As you know, with most things in trading, its usually a combination of things that makes one pull the trigger. The daily support zone was nicely rejected by an impulse bar and so I thought there would be a very high chance of the gap being filled. Don't know if other brokers printed a gap but I take my price from the Oanda feed so go by whatever they print. Thought it worth a chance given the relatively small initial stop. Am flat the position now though.

Yeah, sorry I missed you during the session but I did sleep through most of it. What I some times do when I believe there may be an impending trade is set my noise makers to wake me up, that way I can sleep until there is a possible setup, then do the bleery eye thing (LOL) and punch in the orders and go back to snoring zzzzzzz. Then I wake again at the TP levels. In this particular case, however, I caught the EUR bounce off the bottom more by chance than design as I was up managing the JPY trade and saw the setup..
Attached Image (click to enlarge)
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Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #25,385
  • Apr 2, 2012 3:24pm Apr 2, 2012 3:24pm
Quoting roro53
equity indexes are manic........sharp sell off this morning right at the London open took the DAX down a 100 to 6910 and currently all the way back above the early session high of 7020 to over 7050.......ditto for the other european indexes from spain to italy to the UK and france
Speaking of spx gonna short 1440 today mutual moron monday marked it up trapped the bears wanna see 1 more push to make them feel sick of this market. gonna punch 1440s. If she start slowly i start building for the correction. I hope it will be fast drop.

Have you checked the spain stuff seems to be pretty serious but completly ignored at the moment i can remember last november it was taht they had a way to high gdp projection lol..

How they gonna do that with there unemployment all do i feel pretty shit for what is comming yesterday i also readed a article about my own country (netherlands) from citigroup whe are 1 of the core 1s i really hope europe is gonna print massive like the us otherwise this deflationairy spiral can be a long and verry painfull road. In terms of eu i dont know i really hate eu at the moment bot the eur and usd are shit. so wouldnt be suprised to see this pair chop around like crazy probally scalpers paradise this days.
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File Type: pdf 87691394-Global-Leading-Indicator-April-2.pdf   82 KB | 1,578 downloads
File Type: pdf 87658104-Stifel-Market-Strategy-2012-04-02-2Q12-Macro-Outlook.pdf   2.9 MB | 851 downloads
  • #25,386
  • Apr 2, 2012 3:25pm Apr 2, 2012 3:25pm
Fxhermit, please how do you draw the fibs on your charts?
What are the criteria for picking the high and low points please?
thanks in advance..
  • #25,387
  • Edited 5:00pm Apr 2, 2012 4:50pm | Edited 5:00pm
Quoting Sma777
Fxhermit, please how do you draw the fibs on your charts?
What are the criteria for picking the high and low points please?
thanks in advance..
Hi SMA77,

The fib idea is derived from this thread:

http://www.forexfactory.com/showthread.php?t=106165

I'm a support/resistance trader, meaning, identify a recent area of S/R and then trade price as it moves away. I take into account candlestick bars having at one time studied Steve Nison's stuff (lots of info on candlesticks on the net). I also like to use MACD for such things as divergence and zero crosses. Everything is evaluated within the context of S/R so I suggest you give it a good study up.

Far be it from me to explain S/R as there are endless resources available here on FF and google of course. They do a better job of explaining S/R than I probably do, however, you can go back and read some of my really old posts where I get into it a bit. I suggest learning to draw the obvious levels by hand and eye as much as possible before relying entirely on S/R indies.

Once S/R becomes second nature to you, you will probably discover to your delight that you can bolt on just about any system or methodology and do quite well with it provided you are strict about keeping within the context of identifying S/R and trading price as it moves away from a fresh one. Even the Teb63 approach from the above thread is workable that way. Hope that helps a bit.

All the best in your quest.
Stay calm, be brave, wait for the signs - Jasper Friendly Bear
  • #25,388
  • Apr 2, 2012 5:10pm Apr 2, 2012 5:10pm
.......what is on your mind?........

.........the electrobike is on my mind........lol

http://www.iscootpalmbeach.com/image...icbicycle3.jpg
The Chonchy
  • #25,389
  • Apr 2, 2012 5:10pm Apr 2, 2012 5:10pm
ingmar.......just took a quick look at Citi/Spain.......been really busy all day and will read it more closely tonight. it looks a lot like another article i read about the country.

big pop for OIL today but wasn't watching at the time.

as far a today went i have no clue what that was all about.......had a small short on GBP/USD from 1.6055 but dumped it for a small profit. that was it. missed the selloff on the London open and missed the rally after 10 in new York so kind of missed the day

hermit........nice trades on the Yen.

chonchy...........i am dying for the the vin so taking a break for a half bottle tonight then i start again tomorrow bro. cheers
  • #25,390
  • Apr 2, 2012 5:13pm Apr 2, 2012 5:13pm
Quoting fxhermit
As you know, with most things in trading, its usually a combination of things that makes one pull the trigger. The daily support zone was nicely rejected by an impulse bar and so I thought there would be a very high chance of the gap being filled. Don't know if other brokers printed a gap but I take my price from the Oanda feed so go by whatever they print. Thought it worth a chance given the relatively small initial stop. Am flat the position now though.

Yeah, sorry I missed you during the session but I did sleep through most of it. What I some...
........how can I set up the noise makers? what do I use for that? thanks in advance fxhermit.....
The Chonchy
  • #25,391
  • Apr 2, 2012 5:21pm Apr 2, 2012 5:21pm
Quoting roro53
ingmar.......just took a quick look at Citi/Spain.......been really busy all day and will read it more closely tonight. it looks a lot like another article i read about the country.

big pop for OIL today but wasn't watching at the time.

as far a today went i have no clue what that was all about.......had a small short on GBP/USD from 1.6055 but dumped it for a small profit. that was it. missed the selloff on the London open and missed the rally after 10 in new York so kind of missed the day

hermit........nice trades on the Yen....
........Nahhhhhh, don't drink man, leave it for the week end.....
The Chonchy
  • #25,392
  • Apr 2, 2012 5:25pm Apr 2, 2012 5:25pm
.........I think we are going to penetrate the lower trend line, let see how she rolls........but the pin bar is a rejection to the shorts, let see.....

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The Chonchy
  • #25,393
  • Apr 2, 2012 5:26pm Apr 2, 2012 5:26pm
triple a rating
Attached Image
  • #25,394
  • Apr 2, 2012 5:28pm Apr 2, 2012 5:28pm
Quoting roro53
ingmar.......just took a quick look at Citi/Spain.......been really busy all day and will read it more closely tonight. it looks a lot like another article i read about the country.

big pop for OIL today but wasn't watching at the time.

as far a today went i have no clue what that was all about.......had a small short on GBP/USD from 1.6055 but dumped it for a small profit. that was it. missed the selloff on the London open and missed the rally after 10 in new York so kind of missed the day

hermit........nice trades on the...

Yeah there where some talks that they will not release extra reserves or nothing confirmed just massive manipulation they shaked out first all the weak hands probally before finnal the real rally can start
  • #25,395
  • Apr 2, 2012 5:30pm Apr 2, 2012 5:30pm
Quoting chonchy
.........I think we are going to penetrate the lower trend line, let see how she rolls........but the pin bar is a rejection to the shorts, let see.....

Attachment
1.34 is massive option barrier muchos stops above that wouldnt be suprised if they take that 1 out and then close high and next day sell off what makes again everybody confussed as hell lol.

But thats pure guesing
  • #25,396
  • Apr 2, 2012 5:32pm Apr 2, 2012 5:32pm
.........New daily candle looks like is betwing a rock and a hard place, trap betwing the ema's and the lower trend line, fi it cross to the north all that resistance there, red doted line, that if you ask me, is trying hard, it will go up a lot me think, if not it will bounce and go down a lot, we can only wait and follow the money, I guess, my two cents.......as you can see I'm short here in this borker.......

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The Chonchy
  • #25,397
  • Apr 2, 2012 5:33pm Apr 2, 2012 5:33pm
Quoting ingmarforex
triple a rating
can you put her on a bike for me ingmarforex, lol
The Chonchy
  • #25,398
  • Apr 2, 2012 5:35pm Apr 2, 2012 5:35pm
Quoting ingmarforex
1.34 is massive option barrier muchos stops above that wouldnt be suprised if they take that 1 out and then close high and next day sell off what makes again everybody confussed as hell lol.

But thats pure guesing
......that will be a dream come true for me, so I can get rid of some longs I got......
The Chonchy
  • #25,399
  • Apr 2, 2012 5:36pm Apr 2, 2012 5:36pm
Quoting ingmarforex
triple a rating
..........she looks like she is in betwing a rock and a hard place also ingmarforex, don't you agree?
The Chonchy
  • #25,400
  • Apr 2, 2012 5:37pm Apr 2, 2012 5:37pm
Quoting chonchy
can you put her on a bike for me ingmarforex, lol
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