Attachments: Slow and steady

Slow and steady

#61
Jun 7, 2006 6:54am Jun 7, 2006 6:54am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

Gold closed. Stopped out at 620 for 2200 pips (less 90 pip spread).

Prowling the next one....

#62
Jun 7, 2006 7:55am Jun 7, 2006 7:55am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

GBPCHF

Nice established up trend broken. Retracing back up to the trend line, and about to hit the 50% fib too. Bounce down will see me open a short trade...

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#63
Jun 7, 2006 7:57am Jun 7, 2006 7:57am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

Closeup of gbpchf...

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#64
Jun 7, 2006 11:12am Jun 7, 2006 11:12am

WTB
| Commercial User | Joined Sep 2005 | 1,118 Posts

Quoting Mosaic

Disliked

A question ... would you use whatever tech indicators on the same time frame, or look for MACD/MA crosses etc on shorter time frames ?

Ignored

Same tech in different time frames. Search the confluences of support/resistance (trendlines, fibs, counter trendlines, whatever) on the longer time frames, see if it holds and you get a rejection. If so, WAIT for the shorter time frame tech indicators to curl around in the direction of the trade (meaning MAs crossing each other, trendlines to start breaking, MACD crosses, etc). And when the shorter time frame indicators point to the direction desired, wait for a pullback to a short time trendline and enter around there.

So the key thing is to wait for both time frames to point to one direction, otherwise you are anticipating a move that has yet to be confirmed.

#65
Jun 7, 2006 11:30am Jun 7, 2006 11:30am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

Quoting WTB

Disliked

Same tech in different time frames. Search the confluences of support/resistance (trendlines, fibs, counter trendlines, whatever) on the longer time frames, see if it holds and you get a rejection. If so, WAIT for the shorter time frame tech indicators to curl around in the direction of the trade (meaning MAs crossing each other, trendlines to start breaking, MACD crosses, etc). And when the shorter time frame indicators point to the direction desired, wait for a pullback to a short time trendline and enter around there.

So the key thing is to wait for both time frames to point to one direction, otherwise you are anticipating a move that has yet to be confirmed.

Ignored

OK...so it would decrease the number of trades, but increase the % of winning trades....

Makes sense.

Watch this space !!

Thanks JH - I'm getting there...

#66
Jun 7, 2006 1:04pm Jun 7, 2006 1:04pm

newbieinfx
| Joined May 2006 | Status: itme in disguise | 26 Posts

Hi MOSAIC ,

Your display chart is very helpful . Please present more chart for the major
like EUR/USD , USD/CHF , GBP/USD ..
As i knew , you presented only the chart that you traded , but please present
all charts that you analysed w/o trading them .
Thanks so much for your work.

#67
Jun 8, 2006 2:14am Jun 8, 2006 2:14am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

Quoting newbieinfx

Disliked

Hi MOSAIC ,

Your display chart is very helpful . Please present more chart for the major
like EUR/USD , USD/CHF , GBP/USD ..
As i knew , you presented only the chart that you traded , but please present
all charts that you analysed w/o trading them .
Thanks so much for your work.

Ignored

Hi NBIFX,

How great to hear that its being helpful. Its especially helpful to me too getting feedback. Makes me far more introspective of what I'm doing, and is helping me fine tune my strategies that have been forming over the last few months with the help from some excellent traders out there (you know who you are!!

).

I will happily do that...will try and cover a number of currencies and comment on them even if they are nowhere near a potential trade (based obviously only on the system I'm using). If there are any currencies I miss...just pop a message and I'll have a look at it.

For my entries I'll be using long and shorter time frames to attempt to make sure my entries only occur once the market moves in my direction.

Cheers
John

#68
Jun 8, 2006 2:39am Jun 8, 2006 2:39am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

USDCHF daily

Not much going on here. Nothing that makes me confident really in going in a certain direction with the trend.

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#69
Jun 8, 2006 2:41am Jun 8, 2006 2:41am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

USDCHF 4 hourly chart

Like the pink resistance line.

Dollar I feel is weakening long term, so would prefer to short this pair, and might look for a bounce down off the pink line, but with all the support of shorter time frame turn arounds etc, as mentioned above...

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#70
Jun 8, 2006 2:52am Jun 8, 2006 2:52am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

GBPUSD

Daily sort of inverted of USDCHF (expected to a degree).

Also not much conviction.

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#71
Jun 8, 2006 2:53am Jun 8, 2006 2:53am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

GBPUSD 4 hourly

Bounce off longer 4 hourly up trend possible. 38% Fib hanging around too. Bit disjointed. Not that convinced.

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#72
Jun 8, 2006 3:00am Jun 8, 2006 3:00am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

EURUSD

daily not that inspiring

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#73
Jun 8, 2006 3:02am Jun 8, 2006 3:02am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

EURUSD 4 hourly

Again, I feel the USD is weakening longer term, so a long trade bounce might work for me.

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#74
Jun 8, 2006 3:17am Jun 8, 2006 3:17am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

USDJPY

daily ... support becoming resistance ?

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#75
Jun 8, 2006 3:20am Jun 8, 2006 3:20am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

USDJPY 4 hourly

A break down and retrace up to the area of confluence and then a bounce down would be a good short trade I think. Requires patience and the ability to not trade if these criteria are not met. Courtesy of WTB's wisdom. Would like your commentary on this JH...

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#76
Jun 8, 2006 3:24am Jun 8, 2006 3:24am

soso_beton
| Joined Feb 2006 | Status: Geometric Trader | 322 Posts

Nice charts Mosaic!

Don't you think that GBPUSD, USDCHF and EURUSD are too corellated to be traded all together?

-soso

#77
Jun 8, 2006 3:33am Jun 8, 2006 3:33am

Mosaic
| Joined Jan 2006 | Status: Getting there... | 136 Posts

Quoting soso_beton

Disliked

Nice charts Mosaic!

Don't you think that GBPUSD, USDCHF and EURUSD are too corellated to be traded all together?

Ignored

Generally yes, I agree with you. However major UK news can move the GBPUSD independently, and major world vulnerability uniquely tends to strengthen the CHF. But certainly I don't like to be in currencies all vulnerable to a single unit e.g USD - unless they all move in my direction with stops at b/e !!