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  • #15,621
  • Oct 22, 2012 6:25am Oct 22, 2012 6:25am
Trade setup:

Buy on pullback SL:3030 TP:3110
  • #15,622
  • Oct 23, 2012 2:30am Oct 23, 2012 2:30am
Quoting T@rantula
Trade setup:

Buy on pullback SL:3030 TP:3110
Good morning guys. This trade has been good yesterday for all who have longed. It came @ 3083.

Today we could see some more pullbacks particularly if price breaks 3010. Then 2980 is the level where we could search for potentially long trades.
  • #15,623
  • Oct 23, 2012 3:16am Oct 23, 2012 3:16am
Quoting T@rantula
Good morning guys. This trade has been good yesterday for all who have longed. It came @ 3083.

Today we could see some more pullbacks particularly if price breaks 3010. Then 2980 is the level where we could search for potentially long trades.
What i like about your levels or calls is , you always come up with a rather safe and comfortable levels which has some thing in it . the Price action might pullback from 1.299.. levels only but again that 2980 was and is a good level for most of the buyers . when it comes to exit, a trader should recognize the levels depending upon current price action at that POT . Again a remainder that attitude of not jumping to a trade even when a sufficient edge is available . going for an extra safe option - is what seperates you from others in that category .hurrah
finding A M S
  • #15,624
  • Oct 23, 2012 3:46am Oct 23, 2012 3:46am
Quoting prashant7
What i like about your levels or calls is , you always come up with a rather safe and comfortable levels which has some thing in it . the Price action might pullback from 1.299.. levels only but again that 2980 was and is a good level for most of the buyers . when it comes to exit, a trader should recognize the levels depending upon current price action at that POT . Again a remainder that attitude of not jumping to a trade even when a sufficient edge is available . going for an extra safe option - is what seperates you from others in that category...
Yes, The first thing I do is preserving the capital, then its about making profits. We dont need to trade everything we see immediately. Its experience im talking about. We need to patiently wait for a confluence of factors then make a trade. Jumping blindly into trades can lead u to losing profits and can be a psychologically very disturbing.

Thats why i always like to analyse market before making a trade. When scalping i always wait for a VOLATILITY and TREND. But, when I swing the trade as I did yesterday and a day before yesterday I always wait for a right setup.
Patience and timing
  • #15,625
  • Oct 23, 2012 5:33am Oct 23, 2012 5:33am
Very very boring and very slow PA. 3031/3010 are levels to watch for ( downside) 3045 is to the upside. Very tight and range bound.

Slightly bearish, i reckon it might go lower to test 3010/15 and when/if break happens 2980 will give a chance to go long with 2950 as the final and last chance to go long.

Attached Image (click to enlarge)
Click to Enlarge Name: eu1.jpg Size: 34 KB
  • #15,626
  • Oct 23, 2012 8:33am Oct 23, 2012 8:33am
Quoting T@rantula
Very very boring and very slow PA. 3031/3010 are levels to watch for ( downside) 3045 is to the upside. Very tight and range bound.

Slightly bearish, i reckon it might go lower to test 3010/15 and when/if break happens 2980 will give a chance to go long with 2950 as the final and last chance to go long.

Attachment
2955 rejection came in. I am waiting for 2985-3000. I will sell it with 20 pips stop targeting 2950/2930
  • #15,627
  • Oct 23, 2012 11:44am Oct 23, 2012 11:44am
Quoting T@rantula
Very very boring and very slow PA. 3031/3010 are levels to watch for ( downside) 3045 is to the upside. Very tight and range bound.

Slightly bearish, i reckon it might go lower to test 3010/15 and when/if break happens 2980 will give a chance to go long with 2950 as the final and last chance to go long.

Attachment
Hey T@rantula,
I have been a avid reader your informative posts on FF factory for a while now.

My experience in forex trading has been limited primarily to my day job which was very very consuming. However now that I have quit that field for good (after 10 years) I am looking to get on the journey of becoming a full time trader.

I am looking forward to participate and learn from the experienced traders on this thread. Since I am returning to FF and to trading after over a year so feeling rusty.

For the chart you have posted ....can you please identify the TF.

Thanks in advance.
  • #15,628
  • Oct 23, 2012 6:11pm Oct 23, 2012 6:11pm
Quoting MktScape
Hey T@rantula,
I have been a avid reader your informative posts on FF factory for a while now.

My experience in forex trading has been limited primarily to my day job which was very very consuming. However now that I have quit that field for good (after 10 years) I am looking to get on the journey of becoming a full time trader.

I am looking forward to participate and learn from the experienced traders on this thread. Since I am returning to FF and to trading after over a year so feeling rusty.

For the chart you have posted ....can you...
Hello and Welcome

As for the chart its DAILY timeframe. Feel free to discuss, post and enjoy the thread.
  • #15,629
  • Oct 23, 2012 9:58pm Oct 23, 2012 9:58pm
Hi T,
I was wondering if there is a potential setup you see on the continuation of this pullback?

Also would you take trades on such pullbacks and does it fits your trading rules and methodology. If you would consider it how will you approach it .....sell stop vs limit ...where would you put the stop loss?

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD H1.png Size: 47 KB
  • #15,630
  • Oct 24, 2012 2:28am Oct 24, 2012 2:28am
Hello guys. Today I see more bearish continuation. 3015 is first resistance, 3030 is major resistance.

Trades could be taken around 3005 short... with stops around 3015 and 3030 as a dead stop for shorts.

Continuation should retest 2950 as the first target then 2920 the second.

Break of 3030 to the upside invalidates this setup.
  • #15,631
  • Oct 24, 2012 2:55am Oct 24, 2012 2:55am
Quoting MktScape
Hi T,
I was wondering if there is a potential setup you see on the continuation of this pullback?

Also would you take trades on such pullbacks and does it fits your trading rules and methodology. If you would consider it how will you approach it .....sell stop vs limit ...where would you put the stop loss?

Thanks in advance.
Hey Mkt, i already responded to the question just below your post

When I spot a trend, I always wait for a pullback before taking a trade. Breakouts can be exploited with no PB but they are riskier. I always do market orders not limit orders.
  • #15,632
  • Oct 24, 2012 3:08am Oct 24, 2012 3:08am
Quoting T@rantula
Hello guys. Today I see more bearish continuation. 3015 is first resistance, 3030 is major resistance.

Trades could be taken around 3005 short... with stops around 3015 and 3030 as a dead stop for shorts.

Continuation should retest 2950 as the first target then 2920 the second.

Break of 3030 to the upside invalidates this setup.
Missed the setup for a mere 8 points, but to all those who have taken a trade, well done, full pockets of money.

Next what I see is a potential 2920 long scalp or sell at first PB. Anyway, if we come to 2880 Ill be taking a long trade there.
  • #15,633
  • Oct 24, 2012 5:38am Oct 24, 2012 5:38am
Cable is pushing through all resistance now, that could push EU above 2950. Be very careful now. 2920 has been touched to the pip, next break leads to 2880.
  • #15,634
  • Oct 24, 2012 8:45am Oct 24, 2012 8:45am
The conference is leading the price now. 2950 has been broken and 2980 touched.

More intraday direction is yet uncertain, but it may test 2995.
  • #15,635
  • Oct 25, 2012 1:46am Oct 25, 2012 1:46am
1st setup in the morning

We may have a long @ 3000-3005 SL 2982 TP 3035.

Judging from yesterdays PA. EU should go higher today.
  • #15,636
  • Oct 25, 2012 3:19am Oct 25, 2012 3:19am
Quoting T@rantula
1st setup in the morning

We may have a long @ 3000-3005 SL 2982 TP 3035.

Judging from yesterdays PA. EU should go higher today.
3020 reached, I advise cutting 1/2 position off and other part to BE
  • #15,637
  • Oct 25, 2012 5:15am Oct 25, 2012 5:15am
Many rejections off the 3020, we should be prepared for a reversal. 3020 NEEDS to be broken in order to continue further up.

Cable possible shorts at 6155-75 with stops at 6192.
  • #15,638
  • Oct 25, 2012 5:18am Oct 25, 2012 5:18am
Quoting T@rantula
Many rejections off the 3020, we should be prepared for a reversal. 3020 NEEDS to be broken in order to continue further up.

Cable possible shorts at 6155-75 with stops at 6192.
Important
finding A M S
  • #15,639
  • Oct 25, 2012 7:03am Oct 25, 2012 7:03am
Judging from PA, intraday trend has switched to bearish. Need to wait for a pullback to sell it higher. Again I repeat 3020-25 is resistance atm so stops should be placed just above.
  • #15,640
  • Oct 25, 2012 7:21am Oct 25, 2012 7:21am
hi T@rantula,

would be interested which higher level you have in eye: to sell

thanks
Ati

Quoting T@rantula
Judging from PA, intraday trend has switched to bearish. Need to wait for a pullback to sell it higher. Again I repeat 3020-25 is resistance atm so stops should be placed just above.
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