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Daily Chart w/ 10sma

  • #1,241
  • Edited 1:15pm Jul 5, 2012 1:13pm | Edited 1:15pm
EUR/USD up 130, stop to BE
EUR/JPY up 90, stop to BE
(GBP/AUD short still running at +350)

If only these were live trades
Attached Image(s) (click to enlarge)
Click to Enlarge Name: $EURJPY (Daily) 23-1-2012 - 5-7-2012.png Size: 37 KB
Click to Enlarge Name: $EURUSD (Daily) 28-12-2011 - 5-7-2012.png Size: 41 KB
Click to Enlarge Name: $GBPAUD (Daily) 23-2-2012 - 5-7-2012.png Size: 35 KB
Financial independence is what I live for
  • #1,242
  • Jul 6, 2012 7:18am Jul 6, 2012 7:18am
Guys.......

Look at the setup below from NZD/USD, The strong support turned to be resistance now, followed by 3 inn-decision/dojis, And the bearish Divergence says to JUMP INNN.............

We have everything that we need for a trade. but...... you never know how this animal will react....

so lets wait for the momentum/Cross of 10SMA for short.

or lets wait for the breakout for long.

God bless

Regards,
Te-Wies
Attached Image
  • #1,243
  • Jul 6, 2012 7:42am Jul 6, 2012 7:42am
Hey guys

Here is another one with USD/JPY, it established a new uptrend from the beginning of June…… hope the trend will continue further…. Above 10 SMA is a positive sign + the price well settled with in the channel.

Looks pretty good for a long…. Huh….

Alright let’s wait for the price to break previous days high for a long…….

Or wait for the price to break the channel for short….

Regards,
Te-Wies
Attached Image
  • #1,244
  • Jul 6, 2012 11:45am Jul 6, 2012 11:45am
Quoting Te-Wies
Guys.......

Look at the setup below from NZD/USD, The strong support turned to be resistance now, followed by 3 inn-decision/dojis, And the bearish Divergence says to JUMP INNN.............
Update

As expected It Moved down now +50 Pips from the low of yesterday ........ & below the SMA at the moment, so lets hope that it closes below 10SMA....

A wonderful Setup.... but i haven't entered the market due to lots of Red News around most of the pairs like "Non-Farm Employment Change" etc....

Still never too late...... lets keep this pair in mind & hope it gives us a pull back entry by beginning of the next week.

Good luck to all
Te-Wies
Attached Image
  • #1,245
  • Jul 6, 2012 12:00pm Jul 6, 2012 12:00pm
Quoting Te-Wies
Hey guys

Here is another one with USD/JPY, it established a new uptrend from the beginning of June…… hope the trend will continue further…. Above 10 SMA is a positive sign + the price well settled with in the channel.
Now This one moved against the expectation, i mean below the channel, however we can not consider this as the break of channel, Because.............

1.. It formed a clear uptrend from the beginning of June..... so lets hope that the trend continues.

2. Look at the 1H TF, it formed a triple bottom with the Bullish Engulfing pattern at the 3rd Reject.

Hope the price will get back to the channel by next week.....

So this is another pair to watch for next week....

SO ALL THAT we are looking for a roof to short or the floor for long......

Happy weekend to all.

Te-Wies
Attached Image (click to enlarge)
Click to Enlarge Name: 123.gif Size: 16 KB
  • #1,246
  • Jul 7, 2012 5:36pm Jul 7, 2012 5:36pm
Quoting Te-Wies
Update

As expected It Moved down now +50 Pips from the low of yesterday ........ & below the SMA at the moment, so lets hope that it closes below 10SMA....

A wonderful Setup.... but i haven't entered the market due to lots of Red News around most of the pairs like "Non-Farm Employment Change" etc....

Still never too late...... lets keep this pair in mind & hope it gives us a pull back entry by beginning of the next week.

Good luck to all
Te-Wies
Thanks Te-Wies!

I appreciate your insite on these trade setups. I hope you will continue. I am really learning alot fron your thoughts. I also want to say thanks to BKG for sharing this system. Tony
  • #1,247
  • Jul 8, 2012 12:27am Jul 8, 2012 12:27am
Sure mate,

I’ve been trading for the last 4 years, but not an active participant in any thread, but this one.

Regards
Te-Wies

Quoting adsanders
Thanks Te-Wies!

I appreciate your insite on these trade setups. I hope you will continue. I am really learning alot fron your thoughts.
  • #1,248
  • Jul 8, 2012 4:37pm Jul 8, 2012 4:37pm
Quoting Te-Wies
Now This one moved against the expectation, i mean below the channel, however we can not consider this as the break of channel, Because.............

1.. It formed a clear uptrend from the beginning of June..... so lets hope that the trend continues.

2. Look at the 1H TF, it formed a triple bottom with the Bullish Engulfing pattern at the 3rd Reject.

Hope the price will get back to the channel by next week.....

So this is another pair to watch for next week....

SO ALL THAT we are looking for a roof to short or the [b]floor...

  1. Price closed below SMA10
  2. Price is close to resistance
  3. Price hasn't closed below upward trendline


This last bit is keeping me from entering.

Perhaps others may have different arguments for and against going short.

Attached Image (click to enlarge)
Click to Enlarge Name: $USDJPY (Daily) 29-12-2011 - 9-7-2012.png Size: 42 KB
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  • #1,249
  • Jul 9, 2012 9:37am Jul 9, 2012 9:37am
Hello,
Thanks BKG for the great system.

Here is my current long entry, based on closed above 10sma, perhaps end of a b c correction, and perhaps continuation of USD strength, meaning continuation of up trend line. Also, like the look the three blue soldiers.

B.
Attached Image (click to enlarge)
Click to Enlarge Name: usdcad.gif Size: 20 KB
  • #1,250
  • Jul 9, 2012 10:37am Jul 9, 2012 10:37am
Thats a good catch,

look at the bigger picture(Weekly) shows the similar 123 with the morning star pattern formation(almost), however be Careful as the price is just 200Pips away from 200MA(one of the strong MA respected by price in any TF).

This is a probability business, we can not be successful until we try....... so keep going....

Good luck to you.

Te-Wies

Quoting ok2me
Hello,
Thanks BKG for the great system.

Here is my current long entry, based on closed above 10sma, perhaps end of a b c correction, and perhaps continuation of USD strength, meaning continuation of up trend line. Also, like the look the three blue soldiers.

B.
Attached Image
  • #1,251
  • Jul 11, 2012 6:11am Jul 11, 2012 6:11am
Hi,
If you look at the trend on any pair, you will find that many times the price will swing around the 10SMA "can be on both Support or Resistance" areas. the swinging can also go to like 3-4 times in 1 week! which causes consecutive losses due to that. How are you guys filtering such scenarios?
  • #1,252
  • Jul 11, 2012 10:17am Jul 11, 2012 10:17am
You are right Hnijem, but then, I personaly don’t enter after the 10SMA cross….. instead I go down till the 15M TF, to look for the best entry after the 10 MA Cross on Daily Chart, this will avoid getting in to the trap( Daily/Weekly Swing)

Basically one should know the edge - floor to go long or the roof to go short.

Hope Mr,bkg agrees on this.

Good luck to all
Te-Wies


Quoting Hnijem
Hi,
If you look at the trend on any pair, you will find that many times the price will swing around the 10SMA "can be on both Support or Resistance" areas. the swinging can also go to like 3-4 times in 1 week! which causes consecutive losses due to that. How are you guys filtering such scenarios?
  • #1,253
  • Jul 12, 2012 8:14am Jul 12, 2012 8:14am
I hope you guys picked up some of these short trades :-))
Attached Image (click to enlarge)
Click to Enlarge Name: 0712charts.gif Size: 103 KB
Please ask questions and share your experiences with us all!
  • #1,254
  • Jul 12, 2012 8:32am Jul 12, 2012 8:32am
Quoting Hnijem
Hi,
If you look at the trend on any pair, you will find that many times the price will swing around the 10SMA "can be on both Support or Resistance" areas. the swinging can also go to like 3-4 times in 1 week! which causes consecutive losses due to that. How are you guys filtering such scenarios?
It always helps to have trendlines, s/r lines, and a 200sma. If price is close to a trendline and a s/r line and it crosses inthe opposite direction then that is usually a good place to get in a trade. You can not filter out all the bad trades, you will have loosers!! I have attached a chart that is screaming "get in here"!! You have a blue s/r line, red trendline,yellow 200sma, and close below red 10sma.
Attached Image (click to enlarge)
Click to Enlarge Name: 0712nzdusd.gif Size: 30 KB
Please ask questions and share your experiences with us all!
  • #1,255
  • Jul 12, 2012 4:19pm Jul 12, 2012 4:19pm
Quote
I hope you guys picked up some of these short trades :-))

Hi bkg

With you on most of them trades:-)

However on the AUD/JPY & AUD/USD I closed the trades for a loss as price closed back over the SMA.

1.Could you advise me why you kept these open

2. Both these pairs have crossed back below the SMA again tonight (10 pm UK time for me). If you get this situation where price moves back accross the SMA quickly would you place the trade again or stand aside. I'm not sure on this part of the method

Still on demo at moment and wont be using real money until I've got to grips with it completely.

Thanks for your help

Mark
  • #1,256
  • Jul 13, 2012 7:16am Jul 13, 2012 7:16am
Quoting HxMark
Hi bkg

With you on most of them trades:-)

However on the AUD/JPY & AUD/USD I closed the trades for a loss as price closed back over the SMA.

1.Could you advise me why you kept these open

2. Both these pairs have crossed back below the SMA again tonight (10 pm UK time for me). If you get this situation where price moves back accross the SMA quickly would you place the trade again or stand aside. I'm not sure on this part of the method

Still on demo at moment and wont be using real money until I've got to grips with it completely.

Thanks...
I did get out of both those trades yesterday shortly after I posted. I was looking for a retrace back into the gray area on this first chart. I got it so I have now entered short on the aud/usd as you can see in the second chart. The aud/jpy chart looks very similar but I have not made a move on it yet.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 0713audusd.gif Size: 27 KB
Click to Enlarge Name: 0714audusd.gif Size: 27 KB
Please ask questions and share your experiences with us all!
  • #1,257
  • Jul 13, 2012 7:19am Jul 13, 2012 7:19am
I just took aud/jpy short also.
Attached Image (click to enlarge)
Click to Enlarge Name: 0714audjpy.gif Size: 27 KB
Please ask questions and share your experiences with us all!
  • #1,258
  • Jul 13, 2012 7:22am Jul 13, 2012 7:22am
Quoting bkg102665
I did get out of both those trades yesterday shortly after I posted. I was looking for a retrace back into the gray area on this first chart. I got it so I have now entered short on the aud/usd as you can see in the second chart. The aud/jpy chart looks very similar but I have not made a move on it yet.
Hi bkg,

can you explain a bit why you closed both trades yesterday? Was it because of the almost full candle that signals a reversal/retracement?
  • #1,259
  • Jul 13, 2012 7:37am Jul 13, 2012 7:37am
Quoting Olarion1975
Hi bkg,

can you explain a bit why you closed both trades yesterday? Was it because of the almost full candle that signals a reversal/retracement?
Well I was long both pair due to a cross above the 10sma from the previous day. I woke up yesterday to see those two pair moving down so I took my loss, waited for a little pullback and then entered short.
Please ask questions and share your experiences with us all!
  • #1,260
  • Jul 13, 2012 10:50am Jul 13, 2012 10:50am
Quoting bkg102665
I did get out of both those trades yesterday shortly after I posted. I was looking for a retrace back into the gray area on this first chart. I got it so I have now entered short on the aud/usd as you can see in the second chart. The aud/jpy chart looks very similar but I have not made a move on it yet.
I went short at the close of yesterday's big red candle.
Now I'm 80 pips in the hole, yet the upward move appears to stall at the trendline and resistance.
Is it logical to assume that price will bounce down again? In that case I'll stay in the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: $AUDUSD (Daily) 4-1-2012 - 13-7-2012.png Size: 41 KB
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