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Nearly Naked (Simple Trades)

  • #11,181
  • Oct 22, 2012 1:49am Oct 22, 2012 1:49am
I thought it was going to hit and turn at EMA 200... (the green line)
Seems going down
Attached Image (click to enlarge)
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  • #11,182
  • Oct 22, 2012 4:51am Oct 22, 2012 4:51am
Hi,

I too agree on USDCAD short & entered it with positive expectation of down move, now its wait & see game....Lets hope for best result
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  • #11,183
  • Oct 22, 2012 7:01am Oct 22, 2012 7:01am
I put on an order for sell stop @0.9922 (previous 4H bar low).
I still doubt if it reaches EMA200 (daily chart), though
Attached Image (click to enlarge)
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  • #11,184
  • Oct 22, 2012 7:45am Oct 22, 2012 7:45am
Quoting tradoholic
Hi,
Nice chart.
I was expecting a 100 pip drop from 103.85 or so, but as you can see on the chart it found support on the FE level. I have closed all shorts now taking about 60 pips each, had 3 trades running. I think there would be a re bound ad re-kiss of the above FE level before dropping again, If it breaks 103.1 I will re-enter.
My target is 100 in the next few weeks, but will keep playing it as it comes.
Good Luck.
You were right about it. I didn't enter after all
I think it would start coming down once USDJPY reaches 80.00 and comes down. We will see
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  • #11,185
  • Oct 22, 2012 8:37am Oct 22, 2012 8:37am
Quoting Forexgogo
You were right about it. I didn't enter after all
I think it would start coming down once USDJPY reaches 80.00 and comes down. We will see
Just got back home.
EJ did the moves as expected, it over shot the 1.04 level, I have taken a few shorts now upto 1.043 and will keep adding as it goes down and if it clears 1.0380. hope it turns out good. Still running short on my AU as per previous charts.
Cheers.
Find a job that you love and you dont have to work again in your life.
  • #11,186
  • Oct 22, 2012 8:47am Oct 22, 2012 8:47am
Quoting tradoholic
Just got back home.
EJ did the moves as expected, it over shot the 1.04 level, I have taken a few shorts now upto 1.043 and will keep adding as it goes down and if it clears 1.0380. hope it turns out good. Still running short on my AU as per previous charts.
Cheers.
short an array of equity indexes and SP looking for 1400...1375...took that e/j short also

PMd you a link..gl
  • #11,187
  • Oct 22, 2012 8:57am Oct 22, 2012 8:57am
Quoting roro53
short an array of equity indexes and SP looking for 1400...1375...took that e/j short also

PMd you a link..gl
Sitting on my hands waiting for PPZ. I might miss out though.
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  • #11,188
  • Oct 22, 2012 9:01am Oct 22, 2012 9:01am
Quoting Saxon
Sitting on my hands waiting for PPZ. I might miss out though.
I'm waiting for it to break the upward TL for short
Attached Image (click to enlarge)
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  • #11,189
  • Oct 22, 2012 9:17am Oct 22, 2012 9:17am
Quoting alex4xes
Hi,

I too agree on USDCAD short & entered it with positive expectation of down move, now its wait & see game....Lets hope for best result

TP 1 - 20 pips - half lot
SL hit - 11 pips - half lot

Overall - I consider it to be breakeven trade....

Edit - My trade well usually starts with small pips & small lots then I built it with more lots as I gain more pips....this pay well as if we go wrong we need to take small loss & if we go right we can end up trading entire wave or some times entire trend.

I tried short of USDCAD too with same idea, I shorted 0.9944 with SL @ 0.9955 & I encash half lot with profit little more of my initial SL & then let it run....so I took profit at +20 pips & left my SL at its original place....if price would have made new lows then on every retracement I would add the lots & ride the wave.....

Just thought it would be better to share even our trade ideas along with charts so that we can understand each other better when analyzing each others charts. I am quiet new in FF forum...& glad to start with this thread, awesome thread with awesome guys.

Hope to learn more from you guys.


Cheers.
  • #11,190
  • Oct 22, 2012 9:18am Oct 22, 2012 9:18am
Quoting roro53
short an array of equity indexes and SP looking for 1400...1375...took that e/j short also

PMd you a link..gl
Thanks for the PM, I have added more to my EJ shorts now but will keep away from indecies atm. Nu looks good for a good short as well.
Good luck.
Find a job that you love and you dont have to work again in your life.
  • #11,191
  • Oct 22, 2012 9:28am Oct 22, 2012 9:28am
Quoting Forexgogo
I'm waiting for it to break the upward TL for short

I was willing to short that at 104.90 area, so bought @ 104.14 with SL 103.98, encashed now half lot with +20 pips & letting it run....SL moved to 104.07....lets see, how far it can go before I stop & reverse...
  • #11,192
  • Oct 22, 2012 9:37am Oct 22, 2012 9:37am
Quoting alex4xes
I was willing to short that at 104.90 area, so bought @ 104.14 with SL 103.98, encashed now half lot with +20 pips & letting it run....SL moved to 104.07....lets see, how far it can go before I stop & reverse...
I think it keeps climbing up until USDJPY hits 80.00
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  • #11,193
  • Oct 22, 2012 10:22am Oct 22, 2012 10:22am
Quoting Forexgogo
I think it keeps climbing up until USDJPY hits 80.00
That might be the cause of EJ rise....one thing in forex most people don't talk about is correlation....what makes it difficult is, its very subjective in nature....I usually watch for overall correlations along with technical analysis when entering trade on any setup.. sometime that helps some time it spoils....but overall its good to know overall picture for any given currency....

Nice to hear your opinion on reason for EJ rise...

Cheers
  • #11,194
  • Oct 22, 2012 10:57am Oct 22, 2012 10:57am
Quoting alex4xes
That might be the cause of EJ rise....one thing in forex most people don't talk about is correlation....what makes it difficult is, its very subjective in nature....I usually watch for overall correlations along with technical analysis when entering trade on any setup.. sometime that helps some time it spoils....but overall its good to know overall picture for any given currency....

Nice to hear your opinion on reason for EJ rise...

Cheers
Thanks for the good words. I always take into account USDJPY, when I trade xJPY.
  • #11,195
  • Edited 11:13am Oct 22, 2012 11:02am | Edited 11:13am
Sell stop @0.9927 SL0.9970 TL0.9850
A pin bar on 4H
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  • #11,196
  • Oct 23, 2012 8:17am Oct 23, 2012 8:17am
Quoting Saxon
Alright you guys, I'm finally back

Don't trade ACAD that often, but this one is lining up nice. Be good to at least keep an eye on it.
It was a rough turn but it went
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  • #11,197
  • Oct 23, 2012 8:32am Oct 23, 2012 8:32am
Waiting for a retest to jump in on this break...
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  • #11,198
  • Oct 23, 2012 8:37am Oct 23, 2012 8:37am
Getting close to pulling the trigger on this one. Great place for stops as well. I am going to stack this one. I have a stack on UCAD I will post in a sec
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  • #11,199
  • Edited 12:38pm Oct 23, 2012 12:11pm | Edited 12:38pm
I might go long if the last bar close above 1.025 TL=EMA200 (green line)
Your thoughts??
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  • #11,200
  • Oct 23, 2012 12:52pm Oct 23, 2012 12:52pm
Quoting Forexgogo
I might go long if the last bar close above 1.025 TL=EMA200 (green line)
Your thoughts??
You're trading a smaller swing than I'm used to. I've attached a LT look. However, I pulled up a swing similar to yours and did an analysis of what I would look for. I am a confluence trader so I look for things to line up. On the short-term chart, I can see a conlfuence that will last this week at WS1 and Fib. I don't feel that there are any real significant "00"s on this swing. Also, PA has created a friction PPZ (front 1.02927, back 1.03) to the north. Again, this swing isn't usually my target frame.
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