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Simple Money Making Method

  • #2,721
  • Jan 16, 2013 5:15am Jan 16, 2013 5:15am
Long AUD/CAD - 1.0405. S/L 35 pips
  • #2,722
  • Jan 16, 2013 5:21am Jan 16, 2013 5:21am
Quoting Brixton
Long AUD/CAD - 1.0405. S/L 35 pips
Me too. TP?
  • #2,723
  • Jan 16, 2013 5:54am Jan 16, 2013 5:54am
Quoting Brixton
Long AUD/CAD - 1.0405. S/L 35 pips
quite risky, don't you think?
is inside PAC.
just my opinion.
  • #2,724
  • Jan 16, 2013 6:10am Jan 16, 2013 6:10am
I dont use the PAC (yet) I've stuck to the 72 and 12 ma
  • #2,725
  • Jan 16, 2013 6:17am Jan 16, 2013 6:17am
Quoting Brixton
I dont use the PAC (yet) I've stuck to the 72 and 12 ma
if is working for you, keep trading without pac.don't take it as a critic .
i use pac to filter a little the signals and is helping me.
  • #2,726
  • Jan 16, 2013 6:25am Jan 16, 2013 6:25am
WIll do, please keep us informed of how you get on
  • #2,727
  • Jan 16, 2013 7:10am Jan 16, 2013 7:10am
Thoughts on EUR/USD? Its bounced off a major daily S/R zone.
Attached Image
  • #2,728
  • Jan 16, 2013 7:44am Jan 16, 2013 7:44am
I followed this pair for about 2 hours and thought a sell stop below 1.3245 (Jan 10 lowest of support area) but it never got close so I cancelled. Trend is up, price was headed down and now not clear. IMO of course.
Quoting Brixton
Thoughts on EUR/USD? Its bounced off a major daily S/R zone.
edit: I should have said the 200ma is trending up, short term TLs pointing down.
  • #2,729
  • Jan 16, 2013 8:05am Jan 16, 2013 8:05am
Quoting Brixton
Thoughts on EUR/USD? Its bounced off a major daily S/R zone.
Hi Brixton,

I took that trade, but I had to leave the computer so I got out on 1:1. I will short again if the demand between 1.3272 and 1.3247 will be filled.
Attached Image (click to enlarge)
Click to Enlarge Name: EU.jpg Size: 190 KB
  • #2,730
  • Jan 16, 2013 9:17am Jan 16, 2013 9:17am
I've not take the trade because the engulfing bar that triggers the setup has not been broken yet
  • #2,731
  • Jan 16, 2013 9:59am Jan 16, 2013 9:59am
Quoting Brixton
I've not take the trade because the engulfing bar that triggers the setup has not been broken yet
I don't pay to much attention to candlesticks formations, because they cloud my view of the market and a pin bar on my chart can be a hammer on your chart. Don't forget that the market is a supply and demand equation and as FX-Pro said "we also need to whatch out for momentum", the bigger the momentum the bigger the imbalance between supply and demand.
  • #2,732
  • Jan 16, 2013 10:45am Jan 16, 2013 10:45am
Quoting p1casso23
Hi Brixton,

I took that trade, but I had to leave the computer so I got out on 1:1. I will short again if the demand between 1.3272 and 1.3247 will be filled.
For me the problem here is that the price is going to EMA200...
  • #2,733
  • Jan 16, 2013 1:31pm Jan 16, 2013 1:31pm
so do most of you guys take set-ups that have more than one bar going from the 72 to the 12?

I would like to know what other "rules" people are using. I think I may be being to strict, I only take the setup that has one bar touching the 72 and closing past the 12.
  • #2,734
  • Jan 16, 2013 2:45pm Jan 16, 2013 2:45pm
Quoting Chace
so do most of you guys take set-ups that have more than one bar going from the 72 to the 12?

I would like to know what other "rules" people are using. I think I may be being to strict, I only take the setup that has one bar touching the 72 and closing past the 12.
That's what I do if the bar has closed - trade the next bar. But I don't take trades that don't have a 2:1 (or awfully close) risk/reward or aren't going with a defineable trend, a strong trend. So I didn't find a trade during this morning's NY session; I only trade 10 prs with NY.
  • #2,735
  • Jan 16, 2013 2:58pm Jan 16, 2013 2:58pm
Would I be correct in thinking that you wait until price hits the 72 MA line and a resistance line in a down trend, or a support line in an up trend.

Thanks in advance.
  • #2,736
  • Jan 17, 2013 12:42am Jan 17, 2013 12:42am
Quoting Chace
so do most of you guys take set-ups that have more than one bar going from the 72 to the 12?

I would like to know what other "rules" people are using. I think I may be being to strict, I only take the setup that has one bar touching the 72 and closing past the 12.

Hello Chace,

There are no other rules, just use strict money management and it's up to you to test the system in the live market.
FX-Pro can give us 1000 examples of trades but we are not FX-Pro . Every person has a different view of the market and this difference in opinion moves the market up or down.

Good Luck!
  • #2,737
  • Jan 17, 2013 3:50am Jan 17, 2013 3:50am
.

Quoting FX-Pro
•The entry Candlestick should be one single bar rejecting from 72 EMA & Closing Below/Above 12EMA & should be a Pinbar, Marubozu, Engulfing Pattern… Etc
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  • #2,738
  • Jan 17, 2013 5:17am Jan 17, 2013 5:17am
I missed this on USD JPY
Attached Image
  • #2,739
  • Jan 17, 2013 5:23am Jan 17, 2013 5:23am
Dear Brixton,

Thanks for the reply. It's very helpful.

Using the rejection candle as confirmation on entry, would work well as far as reading candle action is concerned.
I put a lot of store candle action.

thanks
  • #2,740
  • Jan 17, 2013 6:05am Jan 17, 2013 6:05am
guys take a look at the chart of AUD / USD, I believe we have a good selling opportunity. I sold at 1.0380. Good luck!
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