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  • #501
  • Dec 5, 2012 4:43am Dec 5, 2012 4:43am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
No it means if it retraces to the 38.2 and turns down it opens up for further bearish implications in that time frame. Now that we cleared an obstacle on the 5M (the 200 SMA) for the time being, go to the next higher time frame and look for obstacles there (which again is the 200)

If we clear the 200 on the 15M, drill to the 30M and notice there again is the 200, same scenerios for the 1H, 4H and Daily

Quoting vahn
is it means that if the price retrace above 38.2 level, you will close your position in loss?
  • #502
  • Dec 5, 2012 4:45am Dec 5, 2012 4:45am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
I've placed an add on sell stop 3 pips below the daily pivot
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  • #503
  • Dec 5, 2012 5:34am Dec 5, 2012 5:34am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Mr. Pip - that "V" is coming brother!
  • #504
  • Dec 5, 2012 5:35am Dec 5, 2012 5:35am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Cancelled my add on sell stop as it was only 3 pips above the 200 on the 15TF
  • #505
  • Dec 5, 2012 5:49am Dec 5, 2012 5:49am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
And another retrace to the 23.6 on the 5M
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  • #506
  • Dec 5, 2012 5:49am Dec 5, 2012 5:49am
Quoting 9er
Mr. Pip - that "V" is coming brother!
Reading through all the overnight post good stuff.
If you fail to plan, you plan to fail.
  • #507
  • Dec 5, 2012 5:52am Dec 5, 2012 5:52am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Just got taken out at +10 pips. next obstacle is the 200 on the 15M
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  • #508
  • Dec 5, 2012 5:52am Dec 5, 2012 5:52am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
A few traders really steppin it up in here! I'm lovin the progress!

Quoting Mr. Pip
Reading through all the overnight post good stuff.
  • #509
  • Dec 5, 2012 6:21am Dec 5, 2012 6:21am
Hello All!
Again too early to close the trade. I still don't know how to manage my trade, anyone can give the advice on how to mange the exit?
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Dangdut is a music of my country
  • #510
  • Dec 5, 2012 6:31am Dec 5, 2012 6:31am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
NuNix - have a number in your head that you are willing to "keep" in the bank. For me it is 10 pips. If a move allows you to lock in 10 pips, then move your stop to lock in 10 pips without closing the trade.

As the move progresses, your +10 pip stop will be taken out or the move continues in your favor.

This is the key to staying in the trade.

If you take the trade from the 5M as an example and the move allowed you lock in +10 pips, drill up to the 1H and watch the RSI. Has it dropped below 50? or 40? If so, then slowly drop your stop with the PA on the higher time frame.

Last week I had 1 trade open for 3 days, I paid a huge swap fee but in light of the 217 pips that I took, the "swap was well worth the bite"

Make sense?

Quoting NuNix
Hello All!
Again too early to close the trade. I still don't know how to manage my trade, anyone can give the advice on how to mange the exit?
  • #511
  • Dec 5, 2012 6:34am Dec 5, 2012 6:34am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
RSI dropped below 50 and is touching 40. A dip to the 30 introduces bearish outlook
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  • #512
  • Dec 5, 2012 6:37am Dec 5, 2012 6:37am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Now let's see if the 15M fllows the 5M lead on the retrace level. The 5M retraced to the 23.6 twice
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  • #513
  • Dec 5, 2012 6:39am Dec 5, 2012 6:39am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
ADP Non-Farm Employment Change US in 36 minutes
  • #514
  • Dec 5, 2012 6:42am Dec 5, 2012 6:42am
Quoting 9er
NuNix - have a number in your head that you are willing to "keep" in the bank. For me it is 10 pips. If a move allows you to lock in 10 pips, then move your stop to lock in 10 pips without closing the trade.

As the move progresses, your +10 pip stop will be taken out or the move continues in your favor.

This is the key to staying in the trade.

If you take the trade from the 5M as an example and the move allowed you lock in +10 pips, drill up to the 1H and watch the RSI. Has it dropped below 50? or 40? If so, then slowly drop your stop with...
Got it , thanks a lot 9er. I always love your post.
Dangdut is a music of my country
  • #515
  • Dec 5, 2012 6:45am Dec 5, 2012 6:45am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
Glad to help! Good to see you grasping the "style" gotta say I am having a bit of a proud moment! Glad I am getting through on some level!

Quoting NuNix
Got it , thanks a lot 9er. I always love your post.
  • #516
  • Dec 5, 2012 7:06am Dec 5, 2012 7:06am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
to the 23.6 just shy of the 200
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  • #517
  • Dec 5, 2012 7:26am Dec 5, 2012 7:26am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
As the 5M did, retraced to 23.6, went down hit pivot retraced to 23.6 again. here the 15M retraced to 23.6, hit S1 and is bouncing back up. Any takers to which level it should retrace to?
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  • #518
  • Dec 5, 2012 7:28am Dec 5, 2012 7:28am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
ADP was negative for US data - very little impact on PA at the moment. Two additional news releases in 2 min
  • #519
  • Dec 5, 2012 7:38am Dec 5, 2012 7:38am
  •  9er
  • | Joined Oct 2012 | Status: Please tell me it's impossible | 732 Posts
No effect - Bonus!
Quoting 9er
ADP was negative for US data - very little impact on PA at the moment. Two additional news releases in 2 min
  • #520
  • Dec 5, 2012 8:09am Dec 5, 2012 8:09am
Call the last trade for today
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Dangdut is a music of my country
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