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EurCad Analysis and Trading Ideas

  • #401
  • May 21, 2012 7:53am May 21, 2012 7:53am
when there is a breakout do you wait for the retest or you just enter with the momentum... thx again Max


Quoting tomspin
I can tell you what I look for, if you hit sup or res and you have a break of the rally or drop - try to find a doji or a hammer or bull/bear engulf and if you are agressive trader jump in without waiting for confirmation candle, or wait and have a "safe" entry but sacrifice those pips you could earn by agressive execution. HDA wrote a nice post about entry few pages back.
Good luck

Edit I forgot to mention breakout off consolidation period is a good entry signal as well - something that actually we are waitng for right now with EUR/CAD
  • #402
  • May 21, 2012 8:08am May 21, 2012 8:08am
http://s13.postimage.org/rl469aa9j/euro.gif
jpg upload

This is a perfect example of box breakout look at the candle before the last one she broke out from a range, pierced and closed below support. Now your entry should be immidaitely on next candle open with SL above support. Now agressive entry would be right after break of 1,2748 but you are expose yourself for a fake drop (crack n' snap) when price goes trough support level and come back up - you can call it stop hunt as well.
swing it!
  • #403
  • May 21, 2012 8:13am May 21, 2012 8:13am
usdcad at resistance, shorting it offers a good RR
COT: The precious data ignored
  • #404
  • May 21, 2012 8:24am May 21, 2012 8:24am
thx tomspin for the chart very clear and yes i found the HDA post about confirmation he look for candle confirmation, hope he will post some chart so we can learn... thx again, still waiting for the eurcad to break..



Quoting tomspin
http://s13.postimage.org/rl469aa9j/euro.gif
jpg upload

This is a perfect example of box breakout look at the candle before the last one she broke out from a range, pierced and closed below support. Now your entry should be immidaitely on next candle open with SL above support. Now agressive entry would be right after break of 1,2748 but you are expose yourself for a fake drop (crack n' snap) when price goes trough support level and come...
  • #405
  • May 21, 2012 8:57am May 21, 2012 8:57am
Quoting kuroro001
usdcad at resistance, shorting it offers a good RR
Traders of the EUR/CAD at no point in time, under no circumstances are you to listen to anything Kuroro001 has to say. Do not, I repeat, Do not put him on your ignore list -

JUST DO NOT LISTEN TO ANYTHING HE HAS TO SAY.

I want to you go back in this EUR/CAD thread and look at posts

#125
#182
#235

Let him stay over at the EUR/USD thread and mislead the traders over there.

YOU WERE WARNED

If he continues to post here, then he can best assist all of you.

Respectfully,
HDA
  • #406
  • May 21, 2012 9:06am May 21, 2012 9:06am
What is your Idea on EUR/CAD? It looks to me that the overall trend is down notice how the rejections arent even able to even threaten the 1.305 level.
  • #407
  • May 21, 2012 9:07am May 21, 2012 9:07am
Quoting tomspin
I can tell you what I look for, if you hit sup or res and you have a break of the rally or drop - try to find a doji or a hammer or bull/bear engulf and if you are agressive trader jump in without waiting for confirmation candle, or wait and have a "safe" entry but sacrifice those pips you could earn by agressive execution. HDA wrote a nice post about entry few pages back.
Good luck

Edit I forgot to mention breakout off consolidation period is a good entry signal as well - something that actually we are waitng for right now with EUR/CAD
Traders:

Not too long ago tomspin was speaking about confirmation first.

DO NOT LISTEN TO KURORO001

Respectfully,
HDA
  • #408
  • May 21, 2012 10:47am May 21, 2012 10:47am
last 3 days i hold short on eurcad but till now no profit,,,,,
  • #409
  • May 21, 2012 10:51am May 21, 2012 10:51am
Quoting kibrul
last 3 days i hold short on eurcad but till now no profit,,,,,
Kibrul,

As you know and should know by now, you will loose sometimes and win most times. So you may hold out on that trade or close it so you can focuss on another set up with a clear head.

Stay focussed, be deciplined and know your edge.

Just my two pips worth.
Born to rule my Economic World and Make a Difference!
  • #410
  • May 21, 2012 11:12am May 21, 2012 11:12am
So we have a breach (M15) would I buy it if it close above resistance?
The answer is NO.
Why?
We are about 20 Pips from major resistance on H4 - RR is not right for me and only if I see some pattern or divergence on H4 I will consider sell which I am considering anyway. By 1,3078/80 of course


http://s18.postimage.org/lqzudk97t/eurocad.gif
upload images
swing it!
  • #411
  • May 21, 2012 11:13am May 21, 2012 11:13am
Quoting HDA
Traders of the EUR/CAD at no point in time, under no circumstances are you to listen to anything Kuroro001 has to say. Do not, I repeat, Do not put him on your ignore list -
...
Why?
New voice message: Why are you calling me? If I need you, I'll call you!
  • #412
  • May 21, 2012 11:18am May 21, 2012 11:18am
Quoting KillerWhale
Why?
HDA, you could learn something here:
To get vouches from people like the ones that Kuroro has takes a lot of knowledge of Forex.

For instance: to get a vouch from Piters and T@rantula and Magix,
Some people would KILL for that.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #413
  • May 21, 2012 11:26am May 21, 2012 11:26am
Quoting KillerWhale
HDA, you could learn something here:
To get vouches from people like the ones that Kuroro has takes a lot of knowledge of Forex.

For instance: to get a vouch from Piters and T@rantula and Magix,
Some people would KILL for that.
In the meantime, Kuroro was right.

I'm short UCAD
New voice message: Why are you calling me? If I need you, I'll call you!
  • #414
  • May 21, 2012 11:29am May 21, 2012 11:29am
Quoting KillerWhale
In the meantime, Kuroro was right.

I'm short UCAD
3 entries in profits the other 4 not yet.
New voice message: Why are you calling me? If I need you, I'll call you!
  • #415
  • May 21, 2012 11:38am May 21, 2012 11:38am
I agree with you about your plan, nice place to short... Max



Quoting tomspin
So we have a breach (M15) would I buy it if it close above resistance?
The answer is NO.
Why?
We are about 20 Pips from major resistance on H4 - RR is not right for me and only if I see some pattern or divergence on H4 I will consider sell which I am considering anyway. By 1,3078/80 of course


http://s18.postimage.org/lqzudk97t/eurocad.gif
upload images
  • #416
  • May 21, 2012 12:36pm May 21, 2012 12:36pm
I need............................
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  • #417
  • May 21, 2012 12:37pm May 21, 2012 12:37pm
Quoting KillerWhale
I need............................
a sandwhich
New voice message: Why are you calling me? If I need you, I'll call you!
  • #418
  • May 21, 2012 12:37pm May 21, 2012 12:37pm
Quoting KillerWhale
a sandwhich
Quisnos
New voice message: Why are you calling me? If I need you, I'll call you!
  • #419
  • Edited 1:09pm May 21, 2012 12:40pm | Edited 1:09pm
Quoting KillerWhale
In the meantime, Kuroro was right.

I'm short UCAD
Traders Good Afternoon,




Let me go over this again step by step.




Aggressively Trading Support and Resistance is one way of trading support and resistance.




Conservatively Trading Support and Resistance is another way of trading support and resistance.




I have shared with you earlier and will still continue to do so, that CONSISTENCY is the key to being successful at forex trading.


If you listen to many traders they will say, I have been trading for 5, 6, 7, 10 years now and they are still not profitable.




Traders conservatively trading the forex, by waiting on confirmations to place your trade and trading your plan consistently, grows your account overtime.




The failure of many traders is that they think short term. They want to make as much as they can NOW. Easy come, Easy Go.




PSYCHOLOGY




The mindset that a trader is to have when trading the forex is to think in terms of PIPS and not Money. Never think, I must make US$2,000 a day. Think 15pips, 20pips, 30pips - so no matter what currency pair you trade, you are only trading your plan according to pips.


Your trading account is to be viewed as if you are planning for your retirement and putting away a little everyday.





You are to look at your trades as a premium that you would pay on a mortgage, health or life insurance policy. Patiently and conservatively as you go along making those 15
  • #420
  • May 21, 2012 12:48pm May 21, 2012 12:48pm
Quoting HDA
Traders Good Afternoon,

Let me go over this again step by step.

Aggressively Trading Support and Resistance is one way of trading support and resistance.

Conservatively Trading Support and Resistance is another way of trading support and resistance.

I have shared with you earlier and will still continue to do so, that CONSISTENCY is the key to being successful at forex trading.

If you listen to many traders they will say, I have been trading for 5, 6, 7,
I have been trading for 7 years now, about 5 of them profitable..
I can tell you 1 thing, Kuroro is a trader that I respect, he has many good ideas.
I also respect you, but don't tell me stories about wealth.

Jamaica is not really the place where you find wealth.
Poverty is the big big word where you live.
Go do something about that and I'll respect you even more.
New voice message: Why are you calling me? If I need you, I'll call you!
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