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Trades based on Market Geometry and Price Action

  • #4,401
  • Jul 24, 2012 3:17pm Jul 24, 2012 3:17pm
it's 4h00:15 min pm
  • #4,402
  • Jul 24, 2012 3:19pm Jul 24, 2012 3:19pm
Which part of Canada are you from?

Quoting dailyking
it's 4h00:15 min pm
  • #4,403
  • Jul 24, 2012 3:33pm Jul 24, 2012 3:33pm
tornto ontario
  • #4,404
  • Jul 24, 2012 3:42pm Jul 24, 2012 3:42pm
Ahh great city. I dated a girl from toronto once and crossed the border several times to visit. This was many years ago and we are no longer together but still great city haha

Quoting dailyking
tornto ontario
  • #4,405
  • Jul 24, 2012 3:46pm Jul 24, 2012 3:46pm
yes beautiful city
  • #4,406
  • Jul 24, 2012 5:38pm Jul 24, 2012 5:38pm
daily inside bar pin on the gbp/usd..this is a retracement, and price could not continue up
short gbp/usd at 1.5480 sl=1.5560 tp1=1.5420 tp2=1.5400 tp3=1.5350
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.usd.png Size: 50 KB
  • #4,407
  • Jul 24, 2012 5:49pm Jul 24, 2012 5:49pm
Do you know of any good sites to watch the US dollar index? I think it would be helpful for me to study the chart since I trade mostly USD pairs.

Quoting dailyking
daily inside bar pin on the gbp/usd..this is a retracement, and price could not continue up
short gbp/usd at 1.5480 sl=1.5560 tp1=1.5420 tp2=1.5400 tp3=1.5350
  • #4,408
  • Jul 24, 2012 5:58pm Jul 24, 2012 5:58pm
on fx tradstation you have usd index called usd dollar you can download it here
http://www.fxcm.co.uk/forex-software-download.jsp#

here is the one i have
Attached Image (click to enlarge)
Click to Enlarge Name: us dollar.png Size: 52 KB
  • #4,409
  • Jul 24, 2012 6:00pm Jul 24, 2012 6:00pm
Thanks boss, ur the man!

Quoting dailyking
on fx tradstation you have usd index called usd dollar you can download it here
http://www.fxcm.co.uk/forex-software-download.jsp#

here is the one i have
  • #4,410
  • Jul 24, 2012 6:03pm Jul 24, 2012 6:03pm
np ..going out a bit
  • #4,411
  • Jul 24, 2012 6:21pm Jul 24, 2012 6:21pm
Couldn't find the us$ index on a fxcm demo acc.
I use this one:
http://www.fxstreet.com/rates-charts/usdollar-index
  • #4,412
  • Jul 24, 2012 8:21pm Jul 24, 2012 8:21pm
its easy to find usd index. simply google it and the results will be there. other currencies can be much tougher to figure so some mathematics would be faster than finding it online for the other indexes.

another clean trend to pick. the audusd sudden spike almost got me at my sl... but free pips FTW!
the strength of the bears on all charts are showing on nzdusd, audusd, eurusd. nzdusd will be in watchlist now. a clean close below 0.782 will make this pair my next short entry.
  • #4,413
  • Jul 24, 2012 8:29pm Jul 24, 2012 8:29pm
ya, nzd/usd is running like a champ. Looks like a triple top on the daily. Which time frame are you waiting to close below .782?

Quoting edwinsieng
its easy to find usd index. simply google it and the results will be there. other currencies can be much tougher to figure so some mathematics would be faster than finding it online for the other indexes.

another clean trend to pick. the audusd sudden spike almost got me at my sl... but free pips FTW!
the strength of the bears on all charts are showing on nzdusd, audusd, eurusd. nzdusd will be in watchlist now. a clean close below 0.782 will make this pair my next short entry.
  • #4,414
  • Jul 24, 2012 8:33pm Jul 24, 2012 8:33pm
daily.
  • #4,415
  • Jul 24, 2012 8:35pm Jul 24, 2012 8:35pm
Oh I see you're on the otherside of the world so your day is just starting

Quoting edwinsieng
daily.
  • #4,416
  • Jul 24, 2012 9:16pm Jul 24, 2012 9:16pm
Not sure what will happen but looks like hammer forming on H4 for aud/usd. Close above 1.022 signal bullish move.
  • #4,417
  • Jul 24, 2012 10:00pm Jul 24, 2012 10:00pm
bad audusd. im outta the trade and looking at nzdusd instead !
  • #4,418
  • Jul 24, 2012 10:22pm Jul 24, 2012 10:22pm
aud/usd and nzd/usd are both commodity pairs and they both trend the same way in general. How come you switch from one to the other at this point?

Quoting edwinsieng
bad audusd. im outta the trade and looking at nzdusd instead !
  • #4,419
  • Jul 25, 2012 12:22am Jul 25, 2012 12:22am
audusd will still go down. my previous target could was 1.015 and 0.99 but nzdusd gives me a nicer picture to short. they can be commodity pairs but their movement need not be the same all the times. i do not really consider both pairs as the same but whichever gives me the confidence to enter, i will do that. partly it is due to not complicating my trades by having too many trades. dk have many entries for different entry and exit points all set. for myself, i prefer loading in 1 shot instead of averaging out and having a fix sl.. any other reduction of risks will be taken care of manually instead as it is much easier for me to calculate my risks in this manner.
  • #4,420
  • Jul 25, 2012 2:09am Jul 25, 2012 2:09am
my short eurusd was stopped with sl 0 on a wick. Not cool.
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