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Medium & Long Term ONLY

  • #81
  • Oct 11, 2013 3:53am Oct 11, 2013 3:53am
Quoting AllenH
Wyckoff Trading Method Wheat weekly chart ... I like it {image}
Since the price is trading at lower trend line, I assume you are looking for buying opportunity. How the Wyckoff Trading Method can show you the entry point?
Thanks
  • #82
  • Oct 11, 2013 1:01pm Oct 11, 2013 1:01pm
Forgot to post my last short here- only posted it on the gold thread. Anyway now I'm long XAUCHF from 1159. Should have entered at 1151 or thereabout and now I'm in drawdown too. Oh well. Should be a pretty big move up though.
  • #83
  • Oct 12, 2013 3:07pm Oct 12, 2013 3:07pm
exited oil before weekend started. did not like recovery part.

it is not the whole move I want to be in but only the steepest (easiest) part.

looking for TA sell signals.
  • #84
  • Oct 29, 2013 5:24am Oct 29, 2013 5:24am
i'm buying USD JPY to target 99 - 101 - 105
actually price has to conquer 97.90 as support so position still small.

i will cut the trade in case of bearish DAILY breake < 97.00
i will increase the position if i see price moving into 98area and/or consolidating it as support.

will increase more if i see price definetly breaking 99.50 (but first i will target some in lower 99.10)

Attached Image (click to enlarge)
Click to Enlarge Name: Chart_USD_JPY_4 Hours_snapshot.png Size: 39 KB
90% of traders use TA, indicators and prediction
  • #85
  • Oct 29, 2013 5:29am Oct 29, 2013 5:29am
Holding a long position in EUR GBP.
target is set near most recent daily tops 0.8760 but will watch carefully what happens in this 50-80pips just below 0.86

position was taken to hedge GBP CHF one (see next post)

stop @BE because of my lack in confidence about EURO.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_GBP_Daily_snapshot.png Size: 33 KB
90% of traders use TA, indicators and prediction
  • #86
  • Oct 29, 2013 5:36am Oct 29, 2013 5:36am
holding this bad entry long GBP CHF (hedged with EUR GBP...)

i will cut the trade if price breakes the 1.43 again.

while if price will hold at these levels and breake the bearish pressure i will increase the position + cut the EUR GBP long one.

target in this instrument is far away around 1.55
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_CHF_Daily_snapshot.png Size: 31 KB
90% of traders use TA, indicators and prediction
  • #87
  • Oct 29, 2013 5:42am Oct 29, 2013 5:42am
USD CHF possible low area and daily chart trade idea.
i will be looking for it to conquer > 0.90 then consolidation (to be searched in hourly chart)

from here we can get back as high as 0.95 - 0.97 and parity (and more)

fuck the advertise, USD can get strong in no time and reverse all situation till end of 2013.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_USD_CHF_Daily_snapshot.png Size: 21 KB
90% of traders use TA, indicators and prediction
  • #88
  • Oct 29, 2013 5:58am Oct 29, 2013 5:58am
and of course... still holding EUR CHF long.
still small.
luckily price did not fill my stop loss @BE (missed by half a pip )

i will increase the position if i see a bullish breake > 1.24. required a weekly candle higher than that
in case of stop out, i will be looking to reload lower into 1.22 or eventually 1.21 area.

good luck, see you next!
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_EUR_CHF_Daily_snapshot.png Size: 20 KB
90% of traders use TA, indicators and prediction
  • #89
  • Oct 29, 2013 10:19am Oct 29, 2013 10:19am
Quoting _BBKing_
USD CHF possible low area and daily chart trade idea. i will be looking for it to conquer > 0.90 then consolidation (to be searched in hourly chart) from here we can get back as high as 0.95 - 0.97 and parity (and more) fuck the advertise, USD can get strong in no time and reverse all situation till end of 2013. {image}

i try to build position right now.

long UCHF 0.8949 and short EUR USD 1.3800

SL on both is about 100pips and actually no target.
will update
90% of traders use TA, indicators and prediction
  • #90
  • Oct 29, 2013 10:24am Oct 29, 2013 10:24am
Quoting _BBKing_
{quote} i try to build position right now. long UCHF 0.8949 and short EUR USD 1.3800 SL on both is about 100pips and actually no target. will update

forgot to mention...

when i start building a position, my confidence about the position itself is small so i use a small size.
in this particular case, both trades are counter main direction so size is even smaller than usual.

in few words, the total 200pips stop loss (100p each one) is < 1.5% of my account
90% of traders use TA, indicators and prediction
  • #91
  • Oct 29, 2013 10:30am Oct 29, 2013 10:30am
Quoting _BBKing_
Holding a long position in EUR GBP. target is set near most recent daily tops 0.8760 but will watch carefully what happens in this 50-80pips just below 0.86 position was taken to hedge GBP CHF one (see next post) stop @BE because of my lack in confidence about EURO. {image}

from now and next 3-4 h4 candles i will decide about this trade. actually i'm 70% sure to close the Egbp long in this area and hold the GBPCHF.
i don't really believe it will lose the 1.44.
patience is the key
90% of traders use TA, indicators and prediction
  • #92
  • Oct 29, 2013 10:47am Oct 29, 2013 10:47am
Quoting _BBKing_
{quote} from now and next 3-4 h4 candles i will decide about this trade. actually i'm 70% sure to close the Egbp long in this area and hold the GBPCHF. i don't really believe it will lose the 1.44. patience is the key
fuck the patience. LOL.
cutted EUR GBP long @0.8580 for a total 109pips.
if the thing will keep rising, this area will become support later
while the GBP CHF is actually on support weekly/monthly/quarterly support
Attached Image
90% of traders use TA, indicators and prediction
  • #93
  • Oct 29, 2013 10:52am Oct 29, 2013 10:52am
UJ rising
EU + GU in resistance area and showing some weakness
Uch in support area showing bounce
Ech+Gch showing some bullishness near major supports (1.23 and 1.43 areas)
Ucad (not shown here) back up 0450 and rising


do we need more signs?!?!

Attached Image (click to enlarge)
Click to Enlarge Name: mix h4.png Size: 99 KB
90% of traders use TA, indicators and prediction
  • #94
  • Oct 29, 2013 1:23pm Oct 29, 2013 1:23pm
i just increased my GBP CHF long position.
after having closed the hedge with EUR GBP (where i collected about 100p), the trade is basically @BE.

watching daily setup my confidence increase and will be more in case of strong move back up > 1.4450.
the instrument anyway is trading very closed to a quarterly support, so a bounce is far expected.

definetly 1.43 must hold, if not i will cut whole and wait.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart_GBP_CHF_Daily_snapshot.png Size: 22 KB
90% of traders use TA, indicators and prediction
  • #95
  • Oct 29, 2013 1:26pm Oct 29, 2013 1:26pm
Quoting _BBKing_
{quote} i try to build position right now. long UCHF 0.8949 and short EUR USD 1.3800 SL on both is about 100pips and actually no target. will update
extremely perfect timing on this entry , already +60 and +40pips. took almost the top in EU and bottom in Uch.
holding both with SL @BE. reason ----> a squeeze is possible.


setting target into 1.36 area on EU and into 0.94 area in UCH.
90% of traders use TA, indicators and prediction
  • #96
  • Oct 29, 2013 2:24pm Oct 29, 2013 2:24pm
Quoting _BBKing_
i'm buying USD JPY to target 99 - 101 - 105 actually price has to conquer 97.90 as support so position still small. i will cut the trade in case of bearish DAILY breake < 97.00 i will increase the position if i see price moving into 98area and/or consolidating it as support. will increase more if i see price definetly breaking 99.50 (but first i will target some in lower 99.10) {image}
I am in related trade - Nikkei long. entry yesterday during live asian session. see if usjy and Nikkei can make into new uptrend. I think chance of large up leg is more than random walk estimate.
  • #97
  • Oct 29, 2013 2:27pm Oct 29, 2013 2:27pm
Quoting seaman2
{quote} I am in related trade - Nikkei long. entry yesterday during live asian session. see if usjy and Nikkei can make into new uptrend. I think chance of large up leg is more than random walk estimate.
UJ and Ni225 are highly correlated
i'm actually not trading indices but i guess it's a good opp there
90% of traders use TA, indicators and prediction
  • #98
  • Oct 30, 2013 3:42am Oct 30, 2013 3:42am
Quoting _BBKing_
{quote} extremely perfect timing on this entry , already +60 and +40pips. took almost the top in EU and bottom in Uch. holding both with SL @BE. reason ----> a squeeze is possible. setting target into 1.36 area on EU and into 0.94 area in UCH.

i closed both for a total 110p. plan is to wait a clear direction and this will happen if Uch will conquer 0.90 as support and Eu 1.37 as resistance... and this could never happen . eventually there is more opportunity if i see 1.39 area and 0.88
still holding all other trades.
90% of traders use TA, indicators and prediction
  • #99
  • Oct 30, 2013 3:48am Oct 30, 2013 3:48am
hello everyone

it was strange for me to find a "long term" forum topic for Forex as I think less than 10% of traders are looking on medium to long term trades. And speaking about long term trades here is something for you: I am monitoring S&P 500 to short it. I know is crazy to short stocks in the current macroeconomic environment with the taper off the table but in my opinion S&P 500 will drop very soon....with or without the taper. I made a long analyze and don't want to bore anyone here so if someone interested you can read it and watch my charts on my blog http://www.forex-galaxy.com/2013/10/...-in-s-500.html

Does anyone else share the same view?
Buy when everyone else is selling and sell when everyone else is buying !
  • #100
  • Oct 30, 2013 3:51am Oct 30, 2013 3:51am
Quoting _BBKing_
{quote} i closed both for a total 110p. plan is to wait a clear direction and this will happen if Uch will conquer 0.90 as support and Eu 1.37 as resistance... and this could never happen . eventually there is more opportunity if i see 1.39 area and 0.88 still holding all other trades.
forgot charts showing the closed positions
Attached Image
90% of traders use TA, indicators and prediction
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