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Simple Money Making Method

  • #2,021
  • Nov 15, 2012 5:02am Nov 15, 2012 5:02am
Quoting FX-Pro
Good morning folks....

what we see on AU-1H may be a pull back for south move... however the 4H Up-trend channel is still intact... so lets keep a tab on this hopefully we should see a good trigger soon...

Cheers,
FX-Pro
So Finally the 4H Uptrend is over....

Expecting a pull back after the bears rally on H4... as the Up TL is broke + the price is on a strong support zone...

Ok how are we going to benefit from this...

here you go

Though the uptrend is over on 4H, the current 1.0329 support may give us a trigger on H1.. for a long, It may act as a counter trade... however we are going to enter only if we see a pull back of this move.... if not we have to wait for the price to retest the 4H TL (Pull back of 4H) & look for a short from there....
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  • #2,022
  • Nov 15, 2012 5:06am Nov 15, 2012 5:06am
Quoting ymmit
Took the AU short on the rebound. Usual rules from FX-Pro for entry and still in short but very slow going. Just wondering how long to stay in the trade. I have brought my stop in to break even.

cheers
Ymmit
Since you are on BE... this trade will not cost you anything...... best if you close your half position & leave the rest.... IMO

Remember we are on a strong support zone...

Cheers,
FX-Pro
  • #2,023
  • Nov 15, 2012 5:10am Nov 15, 2012 5:10am
Much appreciated advice,

Many thanks
Ymmit
  • #2,024
  • Nov 15, 2012 5:34am Nov 15, 2012 5:34am
Quoting FX-Pro
So Finally the 4H Uptrend is over....

Expecting a pull back after the bears rally on H4... as the Up TL is broke + the price is on a strong support zone...

Ok how are we going to benefit from this...

here you go

Though the uptrend is over on 4H, the current 1.0329 support may give us a trigger on H1.. for a long, It may act as a counter trade... however we are going to enter only if we see a pull back of this move.... if not we have to wait for the price to retest the 4H TL (Pull back of 4H) & look for a short from there....
Here is the wider view of A/U 4H....
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  • #2,025
  • Nov 15, 2012 5:39am Nov 15, 2012 5:39am
Quoting FX-Pro
Since you are on BE... this trade will not cost you anything...... best if you close your half position & leave the rest.... IMO

Remember we are on a strong support zone...

Cheers,
FX-Pro
my dear mentor fx-pro,
when you say : close half position, does it mean that if they price is say 40 pips up after moving your stoploss to break even. you then move it 20 pips up again from BreakEven to close half position? please shade more light on this .

thanks
fx light
i am the lord that giveth thee power to create wealth.
  • #2,026
  • Nov 15, 2012 6:03am Nov 15, 2012 6:03am
Quoting fx light
my dear mentor fx-pro,
when you say : close half position, does it mean that if they price is say 40 pips up after moving your stoploss to break even. you then move it 20 pips up again from BreakEven to close half position? please shade more light on this .

thanks
fx light
Hi FX Light...

Ok... Let me make it more easier...

Let say we enter(4 Lots) long at point A with a Stop Loss of 20 Pips point B... & then the price moves in our favour & reaches Point C (20 Pips) we will close the first half position (2 Lots) & move the Stop Loss to Break Even for the other 2 Lots... & squeeze pips till the trend ends... or keep trailing it as log as you can....

the advantage here is you will lock your initial profit 20 pips with half position & ride the complete trend with the other half position... the second half position is a free trade (Without risk)

Hope this is clear when i say "close first half position..."

Cheers,
FX-Pro
Attached Image
  • #2,027
  • Nov 15, 2012 6:18am Nov 15, 2012 6:18am
Quoting FX-Pro
So Finally the 4H Uptrend is over....

Expecting a pull back after the bears rally on H4... as the Up TL is broke + the price is on a strong support zone...

Ok how are we going to benefit from this...
Hey FX-Pro, nice observation. We have two pin bars for this pair on H1 at that strong support now. I'm waiting for a strong bullish momentum candle before going long. These setups occur time and again on the hourly chart i.e.

 

  1. A strong trend is halted at an obvious support/resistance level
  2. A Bulls Vs Bears battle ensues, during which pin bars are painted that show the strong trend continuation resistance
  3. Finally one side breaks the stalemate and breaks out of the consolidation with strong momentum

Most people have the will to win, few have the will to prepare to win
  • #2,028
  • Nov 15, 2012 6:46am Nov 15, 2012 6:46am
Watch the Swissy

PA has reached a strong resistance at 0.9430 and is at the pointy end of a wedge.

We've got a lot of US data comming up, so best to sit tight and wait for the market to tell us what to do...
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Most people have the will to win, few have the will to prepare to win
  • #2,029
  • Nov 15, 2012 7:02am Nov 15, 2012 7:02am
Anyone else Long the Loonie?
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Most people have the will to win, few have the will to prepare to win
  • #2,030
  • Nov 15, 2012 7:25am Nov 15, 2012 7:25am
Quoting burnzmeister
Anyone else Long the Loonie?
Good luck....
  • #2,031
  • Nov 15, 2012 8:16am Nov 15, 2012 8:16am
Quoting FX-Pro
Hi FX Light...

Ok... Let me make it more easier...

Let say we enter(4 Lots) long at point A with a Stop Loss of 20 Pips point B... & then the price moves in our favour & reaches Point C (20 Pips) we will close the first half position (2 Lots) & move the Stop Loss to Break Even for the other 2 Lots... & squeeze pips till the trend ends... or keep trailing it as log as you can....

the advantage here is you will lock your initial profit 20 pips with half position & ride the complete trend with the other half position... the second half position...
My dear mentor Fx-pro,

thank you for the detailed explanation. i have fully understood this and would inculcate it into my trading arsenal. am currently watching the EU.

cheers
fx light
i am the lord that giveth thee power to create wealth.
  • #2,032
  • Edited 8:49am Nov 15, 2012 8:27am | Edited 8:49am
Quoting fx light
My dear mentor Fx-pro,

thank you for the detailed explanation. i have fully understood this and would inculcate it into my trading arsenal. am currently watching the EU.

cheers
fx light
You are welcome brother...

Just be alert... the Current E/U bar is just a data feed from Unemployment Claims... just be careful...

Cheers,
FX-Pro
  • #2,033
  • Nov 15, 2012 9:57am Nov 15, 2012 9:57am
Quoting FX-Pro
Good luck....
Closed for a scratch...

 

  1. PA candle didn't close above the 12 EMA (very naughty)
  2. Bad US data turned sentiment a bit south for the USD

Most people have the will to win, few have the will to prepare to win
  • #2,034
  • Nov 15, 2012 11:29am Nov 15, 2012 11:29am
Quoting FX-Pro
You are welcome brother...

Just be alert... the Current E/U bar is just a data feed from Unemployment Claims... just be careful...

Cheers,
FX-Pro
alright thank you
i am the lord that giveth thee power to create wealth.
  • #2,035
  • Nov 15, 2012 4:59pm Nov 15, 2012 4:59pm
Hi everyone, just thought I'd post a setup before bed time...

I've been quite impatient with this method this week. No good setups for me, and patience is my own worst enemy, so I've made a few stupid trades because I found myself frustrated, but I'm determined to do better!

Anyway, the Euro on the daily chart shows a candlestick formation that is very likely to meet the 200 EMA. The formation is what I like to consider as a complex morning star pattern. So I have a very bullish POV on the daily...

On the Hourly we have a bullish trend break the 200 EMA and retrace back to the 200 before a single pin bar bounces from the 200 and intersects the 12 EMA. Now, I don't like to enter off of pin bars as they often turn out to be false signals. The most reliable candlestick is the strong momentum candle, which indeed we get straight after the pin bar, so I entered on the close of the momentum candle.

Any comments are welcome as always. Good night alll
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Most people have the will to win, few have the will to prepare to win
  • #2,036
  • Nov 15, 2012 8:16pm Nov 15, 2012 8:16pm
Quoting burnzmeister
Anyone else Long the Loonie?
hey burn your analysis is excellent....would you like to share your ema info based indicator ..left corner of da chart.it will be nice.thanks in advance bro.
Say something meaningful or Silence!!
  • #2,037
  • Nov 16, 2012 12:49am Nov 16, 2012 12:49am
Good morning folks...

of all the pairs... i see that, the GU is developing a good trigger...

Can not post the chart at the moment.... keep a tab on G/U 1H

Cheers,
FX-Pro
  • #2,038
  • Edited 2:23am Nov 16, 2012 1:53am | Edited 2:23am
Quoting burnzmeister
Anyone else Long the Loonie?
I'm long CAD, but against AUD, not USD as the CAD is too easily influenced by USD data. If it continues to conform to the descending wedge it has been in since the beginning of March AUD/CAD should fall to 0.99. This pair tends to peak when RSI hits 70-75 on the hourly and daily charts and price action interacts with a trend line which you may find useful for determining an entry point.
You can always make money tomorrow provided you don't lose it today.
  • #2,039
  • Nov 16, 2012 2:30am Nov 16, 2012 2:30am
Quoting FX-Pro
Good morning folks...

of all the pairs... i see that, the GU is developing a good trigger...

Can not post the chart at the moment.... keep a tab on G/U 1H

Cheers,
FX-Pro

the previous bar closed reverse... not a valid one...
  • #2,040
  • Nov 16, 2012 2:57am Nov 16, 2012 2:57am
Watch out for the EUR/CHF - Could be on the way down. Probably not to 1.200 though, the Swiss central bank won't allow it :-)
Most people have the will to win, few have the will to prepare to win
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