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  • #14,341
  • Jul 26, 2012 2:54am Jul 26, 2012 2:54am
This just simply looks too good for Buying.
Nice turning points for price, good number as well.
Attached Image (click to enlarge)
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  • #14,342
  • Jul 26, 2012 3:06am Jul 26, 2012 3:06am
looking at the chart i see that this green line ( S/R) holds historic significance of how low this pair went in the past.
Also the this level coincides with with retracement at 38.2.

Let see see how this sell off goes, SL 20 pips and TP around 45-50.
Attached Image (click to enlarge)
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  • #14,343
  • Jul 26, 2012 5:37am Jul 26, 2012 5:37am
Quoting devgtx460
looking at the chart i see that this green line ( S/R) holds historic significance of how low this pair went in the past.
Also the this level coincides with with retracement at 38.2.

Let see see how this sell off goes, SL 20 pips and TP around 45-50.
Price went down
around 30 pips and retraced to hit stop loss of 10 pips, i moved the stop loss from 20 pips to 10 pips.

Should have taken into consideration "ECB President Draghi Speaks" News :-(
  • #14,344
  • Jul 30, 2012 5:26am Jul 30, 2012 5:26am
Meh, i guess i need to work more to identify levels and possible reactions at these lines.
Blowing demo account slowly :-(
  • #14,345
  • Jul 30, 2012 12:02pm Jul 30, 2012 12:02pm
Quoting devgtx460
Meh, i guess i need to work more to identify levels and possible reactions at these lines.
Blowing demo account slowly :-(
Dev, for what it's worth, the sloshing of 1.2145 level on h1 and h4 is a sign that S/R there had been substantially weakened. Prior gap looked alluring for placement of level, but recent price action is most telling.
  • #14,346
  • Jul 30, 2012 12:17pm Jul 30, 2012 12:17pm
Quoting Bklyn
Dev, for what it's worth, the sloshing of 1.2145 level on h1 and h4 is a sign that S/R there had been substantially weakened. Prior gap looked alluring for placement of level, but recent price action is most telling.
Even though now looks like EURUSD 1.2239-1.2225 is serving as support, probably shouldn't be trusted. Past PA on H4 shows that area being abused and busted several times. Current PA on H1 and M30 is mushy and consolidating. Looks like downward continuation pattern on M30 (ascending triangle in downtrend). I will place limit short at 1.2225 on H1 if price breaks down through that level.
  • #14,347
  • Jul 30, 2012 1:05pm Jul 30, 2012 1:05pm
Is the original poster still around and posting, or is it a dead journal?
  • #14,348
  • Jul 30, 2012 1:27pm Jul 30, 2012 1:27pm
Quoting cfxsignals
Is the original poster still around and posting, or is it a dead journal?
He left nearly 8 months ago. His website is nobrainertrades.com.
  • #14,349
  • Aug 3, 2012 10:23am Aug 3, 2012 10:23am
Quoting Bklyn
Dev, for what it's worth, the sloshing of 1.2145 level on h1 and h4 is a sign that S/R there had been substantially weakened. Prior gap looked alluring for placement of level, but recent price action is most telling.
Yes i agree with you, why cant i see this.
Having a really hard time pulling myself and opening a trade.
  • #14,350
  • Aug 3, 2012 10:40am Aug 3, 2012 10:40am
Quoting Bklyn
Even though now looks like EURUSD 1.2239-1.2225 is serving as support, probably shouldn't be trusted. Past PA on H4 shows that area being abused and busted several times. Current PA on H1 and M30 is mushy and consolidating. Looks like downward continuation pattern on M30 (ascending triangle in downtrend). I will place limit short at 1.2225 on H1 if price breaks down through that level.
This trade worked out as planned (almost). Ended up getting in short at 1.2211 on h1 (a bit less than ideal). Took approx 14 pips of dd (EXACTLY to 1.2225) since I didn't get in at level originally planned. Tp at 1.2155 for ~55 pips profit. Sorry I can't post charts from the stupid iPad.
  • #14,351
  • Aug 7, 2012 6:10am Aug 7, 2012 6:10am
Aiming for 40 pips.
Lets see
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.gif Size: 22 KB
  • #14,352
  • Aug 7, 2012 7:50am Aug 7, 2012 7:50am
Quoting devgtx460
Aiming for 40 pips.
Lets see
Dev, the level at which you've sold is murky i.e. price action is "gooey" rather than "sharp" in that area. There's nothing screaming buy or sell. Actually, if you look at that short term trend line you drew, you'll notice that the price was piling up beneath it, essentially pressurizing that resistance. It looks ready to pop north based on your chart.
  • #14,353
  • Aug 7, 2012 8:23am Aug 7, 2012 8:23am
Quoting Bklyn
Dev, the level at which you've sold is murky i.e. price action is "gooey" rather than "sharp" in that area. There's nothing screaming buy or sell. Actually, if you look at that short term trend line you drew, you'll notice that the price was piling up beneath it, essentially pressurizing that resistance. It looks ready to pop north based on your chart.
yes right stop loss hit :_(
  • #14,354
  • Aug 7, 2012 8:29am Aug 7, 2012 8:29am
Quoting devgtx460
yes right stop loss hit :_(
Don't be discouraged. Just try looking for clean, clear s/r levels and place your pending orders in those areas. If a level isn't apparent within a few seconds of looking at the market, move on to a different market and come back later. Keep it stress free that way.
  • #14,355
  • Aug 7, 2012 8:47am Aug 7, 2012 8:47am
Quoting Bklyn
Dev, the level at which you've sold is murky i.e. price action is "gooey" rather than "sharp" in that area. There's nothing screaming buy or sell. Actually, if you look at that short term trend line you drew, you'll notice that the price was piling up beneath it, essentially pressurizing that resistance. It looks ready to pop north based on your chart.
Btw look at my green sell line , pretty much a solid resistance line ?
  • #14,356
  • Aug 7, 2012 9:07am Aug 7, 2012 9:07am
Quoting devgtx460
Btw look at my green sell line , pretty much a solid resistance line ?
It was a good line, but my guess is that it had been violated prior to you placing your trade. Most recent price action is still the most valid. Although line looked good historically, is it still valid? Important to ask.
  • #14,357
  • Aug 7, 2012 12:41pm Aug 7, 2012 12:41pm
Good day all,

Is this thread still active?

I am a scalper using s/r levels. Pretty much the same method as this one.

I hope I can contribute to this thread.

Happy trading.

PC
Ten Pips A Day Will Keep A Boss Away
  • #14,358
  • Aug 7, 2012 12:48pm Aug 7, 2012 12:48pm
Quoting Trader_FX
Good day all,

Is this thread still active?

I am a scalper using s/r levels. Pretty much the same method as this one.

I hope I can contribute to this thread.

Happy trading.

PC
Hi Trader. It's sort of active. Whatever the case, s/r levels/ lines are arguably the simplest and most consistently helpful technical tools around. I wonder if BRV ever peeps in on this thread anymore. It's quite a little legacy.
  • #14,359
  • Aug 7, 2012 1:04pm Aug 7, 2012 1:04pm
Quoting Bklyn
Hi Trader. It's sort of active. Whatever the case, s/r levels/ lines are arguably the simplest and most consistently helpful technical tools around. I wonder if BRV ever peeps in on this thread anymore. It's quite a little legacy.

Bklyn,


Thank you for the reply. And you are correct, i became succefull at trading once i decided to keep it simple. You just need to believe that it can be this simple. And once you do, you develop the confidence.

I will be posting in here when I can. As long as things stay civil! I checked out some other threads and it looks like a whole lot of arguing going on back and forth.


Look forward to sharing with you.

PC
Ten Pips A Day Will Keep A Boss Away
  • #14,360
  • Aug 8, 2012 11:54pm Aug 8, 2012 11:54pm
A friend just recommended this thread to me so I hope it's still active. Might be a while before I'm up to speed as there is much to digest from the links on page one & I'm relatively new to forex & only trade part time until I can prove making an income. I currently only trade AUD/USD so any contributions are likely to be from that angle. Good luck!
Hope for the best, prepare for the worst.
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