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My trades by Dave

  • #1,121
  • May 18, 2006 10:59pm May 18, 2006 10:59pm
Quoting raczekfx
Very good doc. Thanks Dave.
Wish you success with managing client accounts. Maybe one day will read about you in Market Wizzard III.

Good luck
Mark
Thanks man.


Over all direction is looking bearish and could target 1.2650. 1st support is at 1.1700. I'll post a chart later. Just use boli bands on a 1 hr chart and wach for a sustained break below middle band. When price reaches band use 55 ema on 1 min chart and enter when the ema provides resistance. Add a 120 ema cross and your good. But wach for a possible bounce first.

Dave
  • #1,122
  • May 19, 2006 5:46am May 19, 2006 5:46am
Here is a chart on the daily and weekly.


Weekly is formed a bear signal. And stoch are about to cross down on the next candle.


Daily is supported by the middle boli (21 sma on here). Macd has crossed signal line. And looking for a cross of ADX.

Wach for a bounce today. Price might not cross untill next week.

But if the price drops below 1.2700 that opens the door to the 1.2500 range.

Dave

http://img141.imageshack.us/img141/3...ction1g.th.jpg
  • #1,123
  • May 19, 2006 6:56pm May 19, 2006 6:56pm
Quoting xxDavidxSxx
Here is a chart on the daily and weekly.


Weekly is formed a bear signal. And stoch are about to cross down on the next candle.


Daily is supported by the middle boli (21 sma on here). Macd has crossed signal line. And looking for a cross of ADX.

Wach for a bounce today. Price might not cross untill next week.

But if the price drops below 1.2700 that opens the door to the 1.2500 range.

Dave

http://img141.imageshack.us/img141/3...ction1g.th.jpg

We got the bounce. Now the price should push to 1.2800 retest of the 89,144 ema seen on chart. A failer to break these ema's should give rise to a nice bearish correction to this up trend. A sustained break above 1.2800 on a 1,4 hr chart will put pressure back on the bull side.

Here's a 1 hr chart.

http://img111.imageshack.us/img111/1...unce0sa.th.jpg

Dave
  • #1,124
  • May 21, 2006 11:23pm May 21, 2006 11:23pm
Long 1.2746

s/l 1.2730


target open

Dave
  • #1,125
  • May 21, 2006 11:50pm May 21, 2006 11:50pm
Quoting xxDavidxSxx
Long 1.2746

s/l 1.2730


target open

Dave
One thing I have started doing is putting my s/l 10pips below the level I'll post. That way I avoid getting stopped out by 1-2 pips like almost just happened.

Price is caught in a wedge. As long as wedge lines hold at the bottom I'll let it ride. working s/l if incase of system failer. Posted s/l is gonna be at my descretion when price reaches it. Pus I'm trading through a desk so if price nears my s/l I'll move it to avoid any 1-2 -3 pip spikes by the broker. Not a prob. yet.

holding position ready to pull it if wedge breaks down.

Dave
  • #1,126
  • May 21, 2006 11:59pm May 21, 2006 11:59pm
Quoting xxDavidxSxx
One thing I have started doing is putting my s/l 10pips below the level I'll post. That way I avoid getting stopped out by 1-2 pips like almost just happened.

Price is caught in a wedge. As long as wedge lines hold at the bottom I'll let it ride. working s/l if incase of system failer. Posted s/l is gonna be at my descretion when price reaches it. Pus I'm trading through a desk so if price nears my s/l I'll move it to avoid any 1-2 -3 pip spikes by the broker. Not a prob. yet.

holding position ready to pull it if wedge breaks down.

Dave
Heres chart on the wedge I got caught in.....

http://img98.imageshack.us/img98/247...edge2ii.th.jpg

Dave
  • #1,127
  • May 22, 2006 12:10am May 22, 2006 12:10am
We need an hourly close above 1.2750 to confirm trade.

Dave
  • #1,128
  • May 22, 2006 12:46am May 22, 2006 12:46am
Quoting xxDavidxSxx
We need an hourly close above 1.2750 to confirm trade.

Dave
pt: 1.2728


-18 pips

Dave
  • #1,129
  • May 22, 2006 8:59am May 22, 2006 8:59am
Short 1.2792


s/l 1.2810

Target open

Dave
  • #1,130
  • May 22, 2006 9:21am May 22, 2006 9:21am
PT: 1.2800 after resistance broke


-8 pips

Dave
  • #1,131
  • May 22, 2006 9:53am May 22, 2006 9:53am
Quoting xxDavidxSxx
We got the bounce. Now the price should push to 1.2800 retest of the 89,144 ema seen on chart. A failer to break these ema's should give rise to a nice bearish correction to this up trend. A sustained break above 1.2800 on a 1,4 hr chart will put pressure back on the bull side.

Here's a 1 hr chart.

http://img111.imageshack.us/img111/1...unce0sa.th.jpg

Dave
We have reached the afore mentioned level. 1.2800

Now awaiting a sell signal. Price might go higher mabe 40 more pips befor turning. That is where the top trend line is.

Dave

edit: I'll sell at 1.2830/35 (top trend line) A break above will probly take off like a rocket because that will make this channel on the daily chart a bull flag.
  • #1,132
  • May 22, 2006 10:08am May 22, 2006 10:08am
Here is the daily chart.

The price has touched the middle bolli and bounced up. This top trend line is the only thing stopping it right now.

Notice the little bull flags in the trend. This one is much bigger and on a daily level. So a break above will warrant a long position after support is established above it. But untill the trend line breaks I will assume its gonna hold. And place entry as close to it as possible for a pull back.


Dave

http://img297.imageshack.us/img297/1...flag1tj.th.jpg
  • #1,133
  • May 22, 2006 10:26am May 22, 2006 10:26am
entered at 1.2838

s/l just past at 1.2840

I'll pull it when price closes above the 8 ema on the 1 min chart. And reenter if resistance holds on a retest.

Dave
  • #1,134
  • May 22, 2006 10:28am May 22, 2006 10:28am
exit 1.2832

that was fast...

+6

waching for a close below 8 ema on a 5 min chart to confirm top.

Dave
  • #1,135
  • May 22, 2006 11:30am May 22, 2006 11:30am
long 1.2832

s/l 1.2820<---------changed from 30 to 20 ..oops 2 pip s/l cann't do it

target open

Dave
  • #1,136
  • May 22, 2006 11:51am May 22, 2006 11:51am
Quoting xxDavidxSxx
long 1.2832

s/l 1.2820<---------changed from 30 to 20 ..oops 2 pip s/l cann't do it

target open

Dave
1.2842....moving s/l to BE
  • #1,137
  • May 22, 2006 12:53pm May 22, 2006 12:53pm
Quoting xxDavidxSxx
1.2842....moving s/l to BE
the ma's are a little off from one broker to the next. I find that I cann't accuratly trade off of MG so I use WWC account for my indacaters.

I suggest that those of you using a broker with a dealing desk, get a demo with direct streight through processing. Like fxdd or IB. You'll see a differance in the ma's crossing.

And they'll show a move few seconds befor.


And with a desk don't put your s/l at the spot you want to exit. Especially if the price is close to it. Put s/l 10-15 pips beyond where you want to exit simply for margin protection. Pull trade manually. If the server goes down call the desk and exit all trades.

Try to keep the broker guessing.


Dave

edit...oyea holding position
  • #1,138
  • May 22, 2006 1:16pm May 22, 2006 1:16pm
1.2880 holding

Top boli on daily chart comes in at 1.2915 thats the target if it breaks 1.2900


Dave
  • #1,139
  • May 22, 2006 3:22pm May 22, 2006 3:22pm
Quoting xxDavidxSxx
long 1.2832

s/l 1.2820
target open

Dave

PT: 1.2862

Nearing the end of the session. closing position.


+30 pips



Dave
  • #1,140
  • May 22, 2006 4:22pm May 22, 2006 4:22pm
Nice job Dave.
Always wait for the opportune moment… just be careful not to miss it.
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