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Backing Trades Thru Charts

  • #6,541
  • Nov 7, 2012 6:48am Nov 7, 2012 6:48am
Quoting longshot_nl
IMHO it doesn't make any difference.
Other parties are arrested when trying to debate, there is no real choice.

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Truth is; we won’t ever know who is really pulling the strings behind the curtains.
  • #6,542
  • Nov 7, 2012 6:53am Nov 7, 2012 6:53am
Quoting TheLastCoke
GBP/AUD

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GBP/AUD A second test with a LL was made but the DD was minimal. The SL was moved just below previous test.

Attached Image (click to enlarge)
Click to Enlarge Name: gbpaud d.gif Size: 21 KB
  • #6,543
  • Nov 7, 2012 6:59am Nov 7, 2012 6:59am
Quoting TheLastCoke
NZD/JPY

Attachment
NZD/JPY SL still at BE for this setup but it is developing nicely. Currently +70

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  • #6,544
  • Nov 7, 2012 7:02am Nov 7, 2012 7:02am
Quoting TheLastCoke
Hello Bones,

I usually cancel the setups if there is a significant retracement or if there is a consolidation around/before entry

When there is a retracement before the entry level two things tend to occur:

a. Next attempt will go beyond the entry, in this case a LL will put us below our entry level

b. Momentum is gain and it is too late to join the trade

IMHO this EUR/USD level may get broken if there is another test.
EUR/USD LL made, let's see if it holds
  • #6,545
  • Nov 7, 2012 1:13pm Nov 7, 2012 1:13pm
im liking this set up LC


Quoting TheLastCoke
GBP/AUD A second test with a LL was made but the DD was minimal. The SL was moved just below previous test.

Attachment
Attached Image (click to enlarge)
Click to Enlarge Name: gbp aud d1 07-11-12.png Size: 28 KB
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,546
  • Nov 7, 2012 2:37pm Nov 7, 2012 2:37pm
Quoting TheLastCoke
The rejection wasn't strong enough, I was waiting for a nice pin bar, anyhow the original risk was 0.5% right now has been reduced almost to half. I try to keep it really simple Bones, buy at Support + confluence, sell at Resistance + confluence with a very conservative MM. If my entry survive current daily candle, it will be place at BE.
As Planned

Quoting Bones
im liking this set up LC
GBP/AUD Thanks Bones, your red line looks like a nice place to place my TP. It is a free trade now! Currently +60

Attached Image (click to enlarge)
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  • #6,547
  • Nov 8, 2012 2:45am Nov 8, 2012 2:45am
Quoting TheLastCoke
EUR/USD Setup is cancelled

Attachment
EUR/USD I guess the decision about stepping out of this one was right.

Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 20 KB


Note: I am not getting used to this new FF format
  • #6,548
  • Nov 8, 2012 10:10am Nov 8, 2012 10:10am
Hi LC I just added to gbp aud ,I have faith ! ,news comming for aud its bearish !

fingers crossed a
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,549
  • Nov 8, 2012 10:25am Nov 8, 2012 10:25am
Quoting Bones
Hi LC I just added to gbp aud ,I have faith ! ,news comming for aud its bearish !

fingers crossed a
GBP/AUD my BE SL was met, I am now flat. I will enter short at retest if there is a clear break. I really don't like this hovering with poor rejection
  • #6,550
  • Nov 8, 2012 10:30am Nov 8, 2012 10:30am
trades good im thinking but hey you lost nothing


Quoting TheLastCoke
GBP/AUD my BE SL was met, I am now flat. I will enter short at retest if there is a clear break. I really don't like this hovering with poor rejection
On-site guru & also FF member's' psychiatrist, when not drinking tea
  • #6,551
  • Nov 8, 2012 1:49pm Nov 8, 2012 1:49pm
NZD/JPY I am very happy for our FCS members and those who follow this thread, here is the recap:

Before Entry:

Quoting TheLastCoke
NZD/JPY

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Triggered

Quoting TheLastCoke
NZD/JPY Triggered with a minor Rejection but it is near our BE level.

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SL to BE

Quoting TheLastCoke
NZD/JPY SL to BE

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+70

Quoting TheLastCoke
NZD/JPY Going our way, Currently +70

Attachment
Final outcome 6% if you enter with 0.5% risk, (210 pips)

Attached Image (click to enlarge)
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  • #6,552
  • Nov 8, 2012 4:38pm Nov 8, 2012 4:38pm
USD/CHF

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  • #6,553
  • Nov 8, 2012 7:31pm Nov 8, 2012 7:31pm
Quoting TheLastCoke
Final outcome 6% if you enter with 0.5% risk, (210 pips)
Attachment
NZD/JPY Seems that it was a good place to close the setup, notice the Rejection at TP level.

Attached Image (click to enlarge)
Click to Enlarge Name: nzdjpy2.gif Size: 25 KB
  • #6,554
  • Nov 9, 2012 6:30am Nov 9, 2012 6:30am
CAD/JPY RRR is great, TP around previous top (Resistance) and SL just below today's low

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Click to Enlarge Name: cadjpy.gif Size: 21 KB
  • #6,555
  • Nov 9, 2012 6:38am Nov 9, 2012 6:38am
EUR/JPY Similar situation here where the RRR is high

Attached Image (click to enlarge)
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  • #6,556
  • Nov 9, 2012 8:02am Nov 9, 2012 8:02am
Quoting TheLastCoke
CAD/JPY RRR is great, TP around previous top (Resistance) and SL just below today's low

Attachment
Quoting TheLastCoke
EUR/JPY Similar situation here where the RRR is high

Attachment
EUR/JPY and CAD/JPY are developing really nice, those are free trades now. CAD/JPY is currently fighting the opening level but we may see Bears trying to defend it

Attached Image (click to enlarge)
Click to Enlarge Name: eurjpy d2.gif Size: 21 KB
  • #6,557
  • Nov 9, 2012 8:37am Nov 9, 2012 8:37am
Quoting TheLastCoke
EUR/JPY and CAD/JPY are developing really nice, those are free trades now. CAD/JPY is currently fighting the opening level but we may see Bears trying to defend it

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Hi , How are you brother ? Everything is fine ...

I have a question , This support and round number has for very long been here . Have you taken a trade everytime at this spot ? Where you have placed the arrows or this time is something special ?
Regards
Human
  • #6,558
  • Nov 9, 2012 8:42am Nov 9, 2012 8:42am
Quoting Chanya
Hi , How are you brother ? Everything is fine ...

I have a question , This support and round number has for very long been here . Have you taken a trade everytime at this spot ? Where you have placed the arrows or this time is something special ?
Regards
Hello Chanya, the arrows are intendend to show S&R and there isn't anything really special about this confluence, in fact, the Support may be weaking due to consecutive tests
  • #6,559
  • Nov 9, 2012 9:12am Nov 9, 2012 9:12am
Quoting TheLastCoke
EUR/JPY and CAD/JPY are developing really nice, those are free trades now. CAD/JPY is currently fighting the opening level but we may see Bears trying to defend it

Attachment
CAD/JPY See how Opening level played its role, right now it is testing previous high where a Bearish Rejection may be also expected. I'd be more confident if there is a close above opening (Blue Level)

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpyop.gif Size: 17 KB
  • #6,560
  • Nov 9, 2012 12:38pm Nov 9, 2012 12:38pm
Quoting TheLastCoke
CAD/JPY See how Opening level played its role, right now it is testing previous high where a Bearish Rejection may be also expected. I'd be more confident if there is a close above opening (Blue Level)

Attachment
CAD/JPY This PA was an easy read. Note the nice V bottom, that is usually a strong Reversal Pattern

Attached Image (click to enlarge)
Click to Enlarge Name: cadjpypt.gif Size: 17 KB
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