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Nearly Naked (Simple Trades)

  • #11,241
  • Oct 26, 2012 8:03am Oct 26, 2012 8:03am
Quoting tradoholic
I dont think bail out will happen this year anyway. Its like the hero in the movie dying in the first 15 min, thats game over. market needs news raoidky t keep sekking news.We still have the US election to come ad on my astrological chart I have a very important period between 5th and 20th November which I mentioned a while ago. I expect a huge drop in indecies during this period.
and, the election is the 6th, right? getting close.......
  • #11,242
  • Oct 26, 2012 1:14pm Oct 26, 2012 1:14pm
Quoting Forexgogo
Quite interesting. I'll think about doing it, but guess I need a tremendous confidence...



I have seen your USDCAD. Are you still holding the sell orders? I'm sure it's going to come down eventually, but I just don't have a stomach doing it...
No sir, closed my cad stacks as they entered my profit target. I take what the market gives and since my orders were tripped and price lingered awhile-I got out after the bear move.
  • #11,243
  • Edited 2:31pm Oct 28, 2012 2:20pm | Edited 2:31pm
GJ stays on a strong S/R. I think it's about to go up. A wrong idea??
edit: I see a divergence on daily, which points to downward...
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  • #11,244
  • Oct 28, 2012 3:08pm Oct 28, 2012 3:08pm
[quote=Forexgogo;6134956]Quite interesting. I'll think about doing it, but guess I need a tremendous confidence...

OK, I just put a limit sell @0.99950 TP=EMA200 SL=1.0010

It may not reach there though.....
Attached Image (click to enlarge)
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  • #11,245
  • Oct 29, 2012 10:23am Oct 29, 2012 10:23am
UC is on the verge of breaking big psychological number 1.0 and I plan on shorting from 1.0050
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #11,246
  • Oct 30, 2012 12:15pm Oct 30, 2012 12:15pm
is anyone here?
TP=1.2900 (fib 76) SL=1.2985 See ema50 & 200 closing
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  • #11,247
  • Oct 30, 2012 12:45pm Oct 30, 2012 12:45pm
Quoting Forexgogo
is anyone here?
TP=1.2900 (fib 76) SL=1.2985 See ema50 & 200 closing
for me it is not a great idea, because:
it has to far away the TP.

US market closed,NFP weekend.

Until Thursday-Friday I would take max 40 pip TP, but better with 10 pip 4x.
I want to buy PATIENCE
  • #11,248
  • Oct 30, 2012 1:08pm Oct 30, 2012 1:08pm
Quoting matheszabi
for me it is not a great idea, because:
it has to far away the TP.

US market closed,NFP weekend.

Until Thursday-Friday I would take max 40 pip TP, but better with 10 pip 4x.

NY opens tomorrow...
  • #11,249
  • Oct 30, 2012 3:51pm Oct 30, 2012 3:51pm
What do you guys think about setting a limit sell at the blue box?
confluence:
fibx2, nice S/R

If this is a good entry, then, what's the TP?
fib 36/23?
or 0/23 area?
Attached Image (click to enlarge)
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  • #11,250
  • Nov 1, 2012 10:31am Nov 1, 2012 10:31am
Quoting Forexgogo
What do you guys think about setting a limit sell at the blue box?
confluence:
fibx2, nice S/R

If this is a good entry, then, what's the TP?
fib 36/23?
or 0/23 area?
Looks ok, just watch Price Action around it. Also, I would delete the first set of fibs as the have been "reset". That is, price action has either penetrated 76.4 or gone through it. For me, that means that the previous SR isn't of any use. I added a chart for you to look at.
Attached Image (click to enlarge)
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  • #11,251
  • Nov 1, 2012 1:56pm Nov 1, 2012 1:56pm
Quoting Saxon
Looks ok, just watch Price Action around it. Also, I would delete the first set of fibs as the have been "reset". That is, price action has either penetrated 76.4 or gone through it. For me, that means that the previous SR isn't of any use. I added a chart for you to look at.
Saxon
Thank you very much for your explanation! I can see your method much clearer now.

I'm trying to read through this entire thread... now page 200+...
  • #11,252
  • Nov 1, 2012 7:45pm Nov 1, 2012 7:45pm
Quoting Forexgogo
Saxon
Thank you very much for your explanation! I can see your method much clearer now.

I'm trying to read through this entire thread... now page 200+...
Time well spent. Trust me.
  • #11,253
  • Nov 2, 2012 7:01am Nov 2, 2012 7:01am
Quoting calderone
Time well spent. Trust me.
Thanks! I'm sure it's worth the time
  • #11,254
  • Nov 3, 2012 8:27am Nov 3, 2012 8:27am
Quoting Saxon
Looks ok, just watch Price Action around it. Also, I would delete the first set of fibs as the have been "reset". That is, price action has either penetrated 76.4 or gone through it. For me, that means that the previous SR isn't of any use. I added a chart for you to look at.
Great Chart Saxon! I am attaching mine here to show how I identify the uptrend/downtrend bias. In this case, when uptrend I use up swing fibs & S to go long and down swing fibs & R for TP.
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  • #11,255
  • Nov 3, 2012 8:32am Nov 3, 2012 8:32am
Quoting tradoholic
Scary for all those who work with longer time frame Div.
This is DJ Weekly..
I've seen that chart on my thread . It's forming the pattern we talked a few weeks ago. For some reasons, I wanted to see a new top, but the pattern I wanted to see is already there on NASDAQ. So, I think we are going to see a long term bear market from here.
  • #11,256
  • Nov 3, 2012 10:25am Nov 3, 2012 10:25am
Quoting shahab8b
Great Chart Saxon! I am attaching mine here to show how I identify the uptrend/downtrend bias. In this case, when uptrend I use up swing fibs & S to go long and down swing fibs & R for TP.

Saxon & shaha8b

Thank you very much for the explanation.

I'm a bit confused about a fib for a minor swing.

You move a fib as a minor swing makes a new low (or high)?

Please check the attached charts and tell me if I understand the concept about fibo.
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  • #11,257
  • Nov 3, 2012 1:41pm Nov 3, 2012 1:41pm
Saxon

On this chart, you go long at fib 38 -- this fib is drawn on down trend.
But you suggest otherwise on the other chart.

I'm confused
Attached Images
  • #11,258
  • Nov 3, 2012 1:50pm Nov 3, 2012 1:50pm
Quoting Forexgogo
Saxon

On this chart, you go long at fib 38 -- this fib is drawn on down trend.
But you suggest otherwise on the other chart.

I'm confused
I'm sure Saxon will address your question, but here is what I think:
There is no written law for these stuffs. Logically, you better go long on upswings, but if you look at charts and fibs long enough, you realize that all fibs are like magnet and play S/R regardless of the direction. Moreover, in that chart, you got Weekly Pivot and previous R now turned S at the exact same level. So you have a confluence of three levels, that makes the long trade justifiable.
  • #11,259
  • Nov 3, 2012 1:54pm Nov 3, 2012 1:54pm
Quoting Forexgogo
Saxon & shaha8b

Thank you very much for the explanation.

I'm a bit confused about a fib for a minor swing.

You move a fib as a minor swing makes a new low (or high)?

Please check the attached charts and tell me if I understand the concept about fibo.
As you said, you need to re-draw your fibs as price makes a new high/low.
  • #11,260
  • Nov 3, 2012 2:10pm Nov 3, 2012 2:10pm
Quoting Forexgogo
Saxon & shaha8b
This is an example for how to use confluence levels:
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