That was a heck of a nice bounce to end out the #TaperTantrum week!
Attached Image (click to enlarge)
- #4,242
- Sep 23, 2013 12:06am Sep 23, 2013 12:06am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
{quote} Sir TauTarder and USD-bear and other pioneer teachers, I am Georgelin, I think among plenty FOREX pairs, traders who choosing USDCAD or EURCHF are very smarter and easier to catch a real bottom and real top than other currency pairs, cause their prices are changing within a range about only 1 hundredth of the biggest trading volume of EURUSD, and I am a dillegent student and about 5-year-experienced traders, I hope to be one of your students, because I think sir TauTrader and sir USD-bear have contributed many correct predictions in this...
Thank you for your kind comments - but we are all students. Let us study this pair together and discuss - this is how we learn. 1.0302 remains resistance for now with price below. We need to see if 1.0260/1.0250 area holds as support. If we do not move much higher in the next 2 weeks - then we may see a lower target appearing too - which will complicate things slightly.The next 2 key levels under consideration to the upside will be 1.0358 and 1.0368
Let us see where she wants to go
All the best to you
- #4,243
- Sep 23, 2013 1:40am Sep 23, 2013 1:40am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #4,244
- Sep 23, 2013 5:22am Sep 23, 2013 5:22am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.
- #4,245
- Sep 23, 2013 6:08am Sep 23, 2013 6:08am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Anything can happen.
- #4,246
- Sep 23, 2013 6:37am Sep 23, 2013 6:37am
- Joined Jan 2009 | Status: Per Aspera Ad Astra | 6,262 Posts
- #4,248
- Sep 23, 2013 9:28am Sep 23, 2013 9:28am
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
{quote} Hi, Sir ddinnov, USDCAD has broke down today's daytime lowest price of 1.02875 to 1.02742. And it seems that the WSM can not trade against most world's long traders and his last Friday's 100 times quicker-down-speed-than-recent-speed's bigger short positions. And my before your post's bet "USDCAD will go down 1.02875" is realized and is going to slowly go down to 1.01885
Anything can happen.
- #4,250
- Sep 23, 2013 2:17pm Sep 23, 2013 2:17pm
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
Here is the chart I couldn't post up earlier.
When I put my limit order this morning I'd had a signal from my system (base system - James16) off the 25 EMA (yellow dotted line that price has respected on the way down). Price crossed it along with the 6 EMA so I entered on the retest of the 25 at 1.0280.
The trend line flip and kind of reverse H&S formation that it's looking like it might be making added enough weight to the setup for me to risk 0.5% of my account.
Blue shaded areas are areas to watch (trail stops etc) and the slower base EMAs -150 (thick red) and 365 (thick green) are ideally where I'd like to short from if it get's up there.
Could well be wrong about the whole thing - wouldn't be the first time and certainly won't be the last
When I put my limit order this morning I'd had a signal from my system (base system - James16) off the 25 EMA (yellow dotted line that price has respected on the way down). Price crossed it along with the 6 EMA so I entered on the retest of the 25 at 1.0280.
The trend line flip and kind of reverse H&S formation that it's looking like it might be making added enough weight to the setup for me to risk 0.5% of my account.
Blue shaded areas are areas to watch (trail stops etc) and the slower base EMAs -150 (thick red) and 365 (thick green) are ideally where I'd like to short from if it get's up there.
Could well be wrong about the whole thing - wouldn't be the first time and certainly won't be the last
Anything can happen.
- #4,251
- Sep 23, 2013 2:45pm Sep 23, 2013 2:45pm
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #4,252
- Sep 23, 2013 3:57pm Sep 23, 2013 3:57pm
- | Joined Feb 2010 | Status: Make Them Pay | 1,103 Posts
{quote} your SL is not strategic imho, 1.0250 could be a good bounce level. I would consider 1.0240 if MM allows
For this trade I'll stick to the position sizing rule and take the hit if it stops me out - however I'll definitely take your advice on board for future stop placements.
At the moment on a 4h chart I'll base a stop on 1/2 of the ATR, but if that comes to <20 pips then it's a hard stop of 20 pips - basically no stop wil ever be less than 20 even if ATR at the time is only 10. This does work out as too mechanical sometimes so some extra strategy is definitely needed.
Thanks again
Anything can happen.
- #4,254
- Sep 24, 2013 3:21am Sep 24, 2013 3:21am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
USD signs of strength.
Above 10.565 would give us daily HH
USDOLLAR M15:
Above 10.565 would give us daily HH
USDOLLAR M15:
Don't be a hero. Don't have an ego. Always question yourself
- #4,255
- Sep 24, 2013 3:59am Sep 24, 2013 3:59am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #4,258
- Sep 24, 2013 4:50am Sep 24, 2013 4:50am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
As a bull USD/CAD is gonna get me cancer, and I think at age 23 I will have to quit trading, cuz of this pair
Don't be a hero. Don't have an ego. Always question yourself
