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  • #17,681
  • Feb 20, 2013 9:03am Feb 20, 2013 9:03am
Quoting Rubens PP
Good day all,

Patrick, audsd your type of setup?

Or are you already in?

Cheers
gb
No, I skipped it because the present PA @ support and the last leg up still intacts.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-2-20-13.gif Size: 27 KB
  • #17,682
  • Feb 20, 2013 9:10am Feb 20, 2013 9:10am
Quoting patrick25
No, I skipped it because the present PA @ support and the last leg up still intacts.
Hmm..
I agree with you on the support issue.

But it cant stop reminding me of the recent action on USDCAD.

I might consider entering with reduced Risk below 1.026.

cheers friends
gb
  • #17,683
  • Feb 20, 2013 9:29am Feb 20, 2013 9:29am
Quoting Rubens PP
Hmm..
I agree with you on the support issue.

But it cant stop reminding me of the recent action on USDCAD.

I might consider entering with reduced Risk below 1.026.

cheers friends
gb
I will joint you when the support is taken out. I will also watch for signs for support hold. See the chart.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd-2-20-13.gif2.gif Size: 28 KB
  • #17,684
  • Feb 20, 2013 9:50am Feb 20, 2013 9:50am
Quoting Rubens PP
Hmm..
I agree with you on the support issue.

But it cant stop reminding me of the recent action on USDCAD.


cheers friends
gb
Yes, now we know for sure the R is taken out before we did not. Unless some big news, price will test R now S level because of profit taken. Have you noticed after taken profit some of your trades, price continued moving big time. I want to be sure as much as I can and be in the big moves.
  • #17,685
  • Feb 20, 2013 9:59am Feb 20, 2013 9:59am
Gbpjpy counter trend trade.

Trading is so damn not easy. I wonder how many traders in the draw down right now. I will be no surprise price will take out the low of the PA candle. The big boys know we know PA too you know.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy-2-20-13.gif Size: 17 KB
  • #17,686
  • Feb 20, 2013 10:01am Feb 20, 2013 10:01am
AUDUSD

Here is what I posted to the Members on December 21, 2012 in the AUDUSD Student Trading Discussion thread:

Posted: Fri Dec 21, 2012 2:36 pm

Area of support
Attached Image (click to enlarge)
Click to Enlarge Name: audusdworkerdec21.png Size: 63 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,687
  • Feb 20, 2013 11:53am Feb 20, 2013 11:53am
Quoting patrick25
Gbpjpy counter trend trade.

Trading is so damn not easy. I wonder how many traders in the draw down right now. I will be no surprise price will take out the low of the PA candle. The big boys know we know PA too you know.
Hey Patrick, well i am in the draw down right now and its not fun, but it still fits my RM. I set my SL under support and will hold it with Dr. Joe: "I would only be wrong twice using his simple method:

“Once when you buy at the top and once when you sell at the bottom.”

Attached Image (click to enlarge)
Click to Enlarge Name: chfjpy.gif Size: 64 KB
  • #17,688
  • Feb 20, 2013 12:00pm Feb 20, 2013 12:00pm
Quoting patrick25
The big boys know we know PA too you know.
Patrick do you think the Big Boys take care of us?...I think they give a rat sh*t on us
  • #17,689
  • Feb 20, 2013 12:15pm Feb 20, 2013 12:15pm
Quoting bullzeye

“Once when you buy at the top and once when you sell at the bottom.”

Attachment
It's true only if you are already in from the beginining and in the FAT city. Do not apply this method where you just initiate the trade because of risk/reward.
Attached Image (click to enlarge)
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  • #17,690
  • Feb 20, 2013 12:27pm Feb 20, 2013 12:27pm
Quoting bullzeye
Patrick do you think the Big Boys take care of us?...I think they give a rat sh*t on us
That 's exactly what I mean. They know where there is a high chance the retail traders will get in. Price went 26 pips above PA and reversed. These kink of PA at the end of the big move, we only put on the trade(add on) if we are already in FAT profit. Think of risk/reward.
  • #17,691
  • Feb 20, 2013 12:40pm Feb 20, 2013 12:40pm
Quoting patrick25
That 's exactly what I mean. They know where there is a high chance the retail traders will get in. Price went 26 pips above PA and reversed. These kink of PA at the end of the big move, we only put on the trade(add on) if we are already in FAT profit. Think of risk/reward.
Thanks Patrick,

always good to hear words of wisdom from an experienced trader...
  • #17,692
  • Feb 20, 2013 1:22pm Feb 20, 2013 1:22pm
I will try to post one trade here after "vacation" go easy on me.

I believe this trade if at all tradeable would go to high risk trades section.

Trading GPB/AUD.
On weekly: We have a big range 1.6100 - 1.4700 That would be 1400 pip range.
We are aproaching the bottom of the range. The downside of this trade is that we have very strong bearish weekly bars and maybe we should not go against them but wait for bullish PA for longs. What whill our experts say?
We are close to all time lows therefore big potential of prices going higher.

Attached Image (click to enlarge)
Click to Enlarge Name: GPBAUD Weekly.PNG Size: 59 KB


Daily: The MA's are above price going down therefore this trade is counter trend meaning high risk trade. Or is this tradeable?
Though we have strong bearish candles moving price away from MA's far enough for possible rubber band effect of price moving up. Also today Feb. 20th we had price reach resistance and pull up strongly giving us a nice hammer. A PA to go long.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPAUD Daily.PNG Size: 52 KB


Thank you for your attention and feedback will be appreciated.

Good luck trading
  • #17,693
  • Feb 20, 2013 1:41pm Feb 20, 2013 1:41pm
Quoting strat
AUDUSD

Here is what I posted to the Members on December 21, 2012 in the AUDUSD Student Trading Discussion thread:

Posted: Fri Dec 21, 2012 2:36 pm

Area of support
Strat wants to warn us that Feb 20th Daily candle giving us a sell signal with this strong bearish bar is right at strong BOSS support?
And therefore in no way should we be taking short positions here just yet.

AUDUSD

Attached Image (click to enlarge)
Click to Enlarge Name: AUD USD Daily.PNG Size: 59 KB
  • #17,694
  • Feb 20, 2013 2:14pm Feb 20, 2013 2:14pm
GPB/AUD

 On weekly: We have a big range 1.6100 - 1.4700 That would be 1400 pip range.

We are approaching the bottom of the range. The downside of this trade is that we have very strong bearish weekly bars and maybe we should not go against them but wait for bullish PA for longs.

EXACTLY! Do not even consider this UNTIL there is BULLISH PA

We are close to all time lows therefore big potential of prices going higher.

PRICE does not care about ""all time lows"" or history. PRICE will continue lower until the market reaches equilibrium or there is no new information.

Daily: The MA's are above price going down therefore this trade is counter trend meaning high risk trade. Or is this tradeable?

ABSOLUTELY! As long as you trade with the trend.

Though we have strong bearish candles moving price away from MA's far enough for possible rubber band effect of price moving up. Also today Feb. 20th we had price reach resistance and pull up strongly giving us a nice hammer. A PA to go long.

PRICE reached the 1st level of SUPPORT - not resistance. The AREA of SUPPORT is at least 350 pips. There is NO PA and NO SUPPORT to go long against this down trend.

Good luck trading

There is "NO LUCK" in trading - "LUCK" is for the brainless idiots who don't know what they are doing (and there are more of them than US!).
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,695
  • Feb 20, 2013 2:17pm Feb 20, 2013 2:17pm
Another position to trade.

USD/CHF

Price in a weekly range. Therefore I'm looking for trades from bottom range to top range. We have hit the bottom of the range Feb 01 giving us a nice hammer signaling longs. Startng February we have buyers in control. We had consolidation at the MA's and resistance line, which price managed to go above and today Feb. 20th price went down to MA 20 touching it and shooting up giving us strong BUOB closing strongly above resistance line.

Signaling to go long for the top of the range around 0.9450

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF Daily.PNG Size: 58 KB


Good trading all
  • #17,696
  • Feb 20, 2013 2:24pm Feb 20, 2013 2:24pm
Quoting kaunasny
I will try to post one trade here after "vacation" go easy on me.

I believe this trade if at all tradeable would go to high risk trades section.

Trading GPB/AUD.
On weekly: We have a big range 1.6100 - 1.4700 That would be 1400 pip range.
We are aproaching the bottom of the range. The downside of this trade is that we have very strong bearish weekly bars and maybe we should not go against them but wait for bullish PA for longs. What whill our experts say? ...
Was posting charts 2 hours left to daily close. In those two hours price managed to move down not showing that nice hammer anymore. Also listening to Strat's advice this is not a good trade to take. Trade is canceled.
  • #17,697
  • Feb 20, 2013 2:31pm Feb 20, 2013 2:31pm
Quoting kaunasny
Strat wants to warn us that Feb 20th Daily candle giving us a sell signal with this strong bearish bar is right at strong BOSS support?
And therefore in no way should we be taking short positions here just yet.

AUDUSD

Attachment
Trading short into support is not good for your health or your bank account. We only want to trade high probability, low risk trades which this is definitely not. Now, if you are in profit from where PASR was to go short, 1.0560, then those with low risk tolerance could use some of their profits to risk gaining extra pips through support.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdBOSS.png Size: 58 KB
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,698
  • Feb 20, 2013 2:51pm Feb 20, 2013 2:51pm
Quoting bullzeye
I set my SL under support and will hold it with Dr. Joe: "I would only be wrong twice using his simple method:

“Once when you buy at the top and once when you sell at the bottom.”
But you didn't buy at the bottom and instead jumped in near the current high so you are not trend trading following my interpretation of Dr. Joe.
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,699
  • Feb 20, 2013 2:55pm Feb 20, 2013 2:55pm
xxxJPY Pairs

Here is what I posted to the membership on February 18, 2013 relative to all xxxJPY pairs:

Posted: Mon Feb 18, 2013 2:06 pm

KEEP WATCHING!

The SUPPLY trend line has 5 touches meaning that it is valid.

PRICE is now getting squeezed between this supply line and the immediate support. One of these has to break which will foretell future direction.

Both these are very important to watch.
Attached Image
15 YEARS OF PASR ON FOREX FACTORY!
  • #17,700
  • Feb 21, 2013 9:18am Feb 21, 2013 9:18am
Gbpchf

This is what PA about. The big foot print protect your profit.
Attached Image (click to enlarge)
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