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  • #1,801
  • Oct 9, 2013 11:46pm Oct 9, 2013 11:46pm
This looks much more interesting - lots of movement today - not sure how to explain what USD is doing - maybe they should shut down the gov for good and the USD will be strong again?

EU and GU coming off of their recent Supply Zones
Attached Image (click to enlarge)
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"To live with Passion, it takes Courage and Grace to survive"
  • #1,802
  • Oct 10, 2013 5:11am Oct 10, 2013 5:11am
Quoting Britpip7
This looks much more interesting - lots of movement today - not sure how to explain what USD is doing - maybe they should shut down the gov for good and the USD will be strong again? EU and GU coming off of their recent Supply Zones {image}
Britpip, whats your entry point potential here? A break downwards through the existing demand zone currently just below price, or alternatively a bounce off the current demand zone in the direction of the current trend? Interested to hear your analysis of this.....
  • #1,803
  • Oct 10, 2013 2:49pm Oct 10, 2013 2:49pm
usdjpy appears to be pushing all the right buttons, including a support bounce and resistance break. Only thing missing is a 3=7 cross.
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  • #1,804
  • Oct 10, 2013 3:13pm Oct 10, 2013 3:13pm
Quoting Uk1
{quote} Britpip, whats your entry point potential here? A break downwards through the existing demand zone currently just below price, or alternatively a bounce off the current demand zone in the direction of the current trend? Interested to hear your analysis of this.....
Currently waiting for a push lower, however the weekly current range is less than 300pips so it is very possible that GU offers a better short entry possibility.

Gut feel at this time is that EU will hold up on the support levels, so not too excited. Still favoring GU for a short move
"To live with Passion, it takes Courage and Grace to survive"
  • #1,805
  • Oct 10, 2013 3:15pm Oct 10, 2013 3:15pm
Quoting Buttonjock
usdjpy appears to be pushing all the right buttons, including a support bounce and resistance break. Only thing missing is a 3=7 cross. {image}
Nice colour change and move on UJ
"To live with Passion, it takes Courage and Grace to survive"
  • #1,806
  • Oct 10, 2013 3:16pm Oct 10, 2013 3:16pm
Quoting Buttonjock
usdjpy appears to be pushing all the right buttons, including a support bounce and resistance break. Only thing missing is a 3=7 cross. {image}
A lot of congestion to the left Buttonjock around the current level, could be a choppy journey up? Where would your anticipated target be, 99390 level (next supply zone)?
  • #1,807
  • Oct 10, 2013 3:22pm Oct 10, 2013 3:22pm
I'm in this currently, only 20 odd pips up over the last 2 days, and a doji forming today so may jump out lets see at 10 tonight (UK time)
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  • #1,808
  • Oct 10, 2013 3:33pm Oct 10, 2013 3:33pm
Stalking the eurcad, looks like we may have a double top forming, looking to trade the right move down. Any thoughts guys?
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  • #1,809
  • Oct 10, 2013 11:44pm Oct 10, 2013 11:44pm
Quoting Uk1
Stalking the eurcad, looks like we may have a double top forming, looking to trade the right move down. Any thoughts guys? {image}
Day PA is sitting in a Demand Zone and H4 is showing a TDI bearish divergence, so currently only looking for a move south.

No entry point as long as PA stays above the 7EMA on the Day
Attached Image (click to enlarge)
Click to Enlarge Name: ecad tdi 10-10-2013.gif Size: 97 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,810
  • Oct 14, 2013 3:01pm Oct 14, 2013 3:01pm
Quoting Uk1
{quote} A lot of congestion to the left Buttonjock around the current level, could be a choppy journey up? Where would your anticipated target be, 99390 level (next supply zone)?

Since my stop is under the previous low at 96.4 I feel it should need to get to about 100, however I'll be watching very carefully at 99.3. Resistance sloping from May is an important factor too. If this gets broken again, possibly around 99.6 we could see a move to at least 103, or more if a pennant pattern on the weekly chart gets fulfilled. Positive swap on this one will allow some patience in waiting.
  • #1,811
  • Oct 14, 2013 11:33pm Oct 14, 2013 11:33pm
Quoting Britpip7
{quote} Day PA is sitting in a Demand Zone and H4 is showing a TDI bearish divergence, so currently only looking for a move south. No entry point as long as PA stays above the 7EMA on the Day {image}
ECAD looking more like a possibility if it can break below 1.4000 and maintain PA momentum.

Day MACD has turned and we now have a 2/7 arrow
Attached Image (click to enlarge)
Click to Enlarge Name: eur cad tdi 10-14-2013.gif Size: 110 KB
"To live with Passion, it takes Courage and Grace to survive"
  • #1,812
  • Oct 15, 2013 4:47am Oct 15, 2013 4:47am
Quoting Britpip7
{quote} ECAD looking more like a possibility if it can break below 1.4000 and maintain PA momentum. Day MACD has turned and we now have a 2/7 arrow {image}
Looking good Britpip, I'm keeping and eye on this as well ;-)

Have you entered anything else in the last week? I noticed quite a few opportunities, but for one reason or another I didnt take them (heavy resistance / support near by primarily) but in hindsight the moves went for a lot of pips . Hindsight is a wonderful thing I guess..... And / or I just need to train my brain to recognise the opportunities. Its been a tough few weeks for the US which hasnt helped.

I know previously you mentioned at one point having up to 11-13 trades in one week, how often does this occur for you? Appreciate this is ultimately down to pairs being traded and your personal backtested valid entry setups, but what have you had in the last few weeks in terms of setups? Just want to get an idea of the number of potential opportunities that can be available each week, even in the quieter times.
  • #1,813
  • Oct 15, 2013 11:04pm Oct 15, 2013 11:04pm
Quoting Uk1
{quote} Looking good Britpip, I'm keeping and eye on this as well ;-) Have you entered anything else in the last week? I noticed quite a few opportunities, but for one reason or another I didnt take them (heavy resistance / support near by primarily) but in hindsight the moves went for a lot of pips . Hindsight is a wonderful thing I guess..... And / or I just need to train my brain to recognise the opportunities. Its been a tough few weeks for the US which hasnt helped. I know previously you mentioned at one point having up to 11-13 trades in one...
Typically I am entering between 2 to 5 trades per week, so that was an unusual week and much of it was on the lower timeframes.

The last few weeks have been quiet - limited trading and again mostly H4 or H1 entries off of the TDI - probably 4 or 5 set-ups on H4 that I could hit during my availability to trade
"To live with Passion, it takes Courage and Grace to survive"
  • #1,814
  • Oct 23, 2013 3:03pm Oct 23, 2013 3:03pm
Apologies, no time for details. Latest pending for me
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  • #1,815
  • Oct 24, 2013 2:46pm Oct 24, 2013 2:46pm
Trade has triggered. The only thing missing was a 3-7 EMA cross, which is now there. as the stop is rather large, the TP is also going to be rather high.
  • #1,816
  • Oct 24, 2013 4:29pm Oct 24, 2013 4:29pm
Possible break out trade for next week guys?
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  • #1,817
  • Oct 24, 2013 4:43pm Oct 24, 2013 4:43pm
Quoting Uk1
Possible break out trade for next week guys? {image}
At the moment I am short and expect it to go to the support level at around 96.6
Where do you think it will breakout?
  • #1,818
  • Oct 24, 2013 4:46pm Oct 24, 2013 4:46pm
Quoting Buttonjock
Trade has triggered. The only thing missing was a 3-7 EMA cross, which is now there. as the stop is rather large, the TP is also going to be rather high.
I am also in this trade. I trail it on the 4 hour chart with quite a big distance from the last low. How do you manage that trade? Hopefully it goes all the way up.
  • #1,819
  • Oct 25, 2013 10:07am Oct 25, 2013 10:07am
Quoting Uk1
Stalking the eurcad, looks like we may have a double top forming, looking to trade the right move down. Any thoughts guys? {image}
Update on this, I entered short on the break of 1.400, but got stopped out. I entered long on the break of consolidation, and got out with 120 pips. Could have stayed in longer, but got nervous with the rsi line above 68 and tweaking (classic Big E watch out signal). all in all not a great set of trades, but an experience to take away and use positively....
  • #1,820
  • Oct 25, 2013 10:27am Oct 25, 2013 10:27am
Quoting Myrmica
{quote} At the moment I am short and expect it to go to the support level at around 96.6 Where do you think it will breakout?
Just my take on this, but pulling on classic chart analysis techniques, its a symmetrical triangle at the top of (or middle who knows) up trend, so looking for a break upwards, TDI is also contracting and heading down to the 32 level, so TDI signalling a possible reversal?

Target wise you could be right, we may find support around 96.6 where a reversal happens, if i get a long signal to enter I will be targetting historic swing levels e.g. 98.950 / 99.690 / 100.585 and so on. Not all in one go I might add! I could be completely wrong, we should have a plan B / C...

Bearing in mind also that this contraction seems to have gone on in to the triangle quite a way, so it may even continue sideways..
just my take on things ....
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