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Sultans of Swing

  • #381
  • Nov 4, 2013 2:10pm Nov 4, 2013 2:10pm
Quoting theDHT
{quote} thanks bro! wish you the same.. i cant believe the year is almost over! hows your work with the demark studies coming along?

not an inch of progress - haven't even started, D!

I plan to get going with DeMark and a book by Rich Swannell soon. Have spent the past week integrating my apps and OS so I can switch easily and seamlessly between trading platform and my prefered graphics app (Inkscape) to facilitate TA and pattern referencing whilst trading.

The more tools in the toolbox the better, hey? Not to use them simultaneously - but when the task requires.
cryptocurrency everytime
  • #382
  • Nov 4, 2013 4:05pm Nov 4, 2013 4:05pm
oz kiwi monthly

feels good to have cashed out the longs last week, and buy 100 pips lower this week

still i remain bullish until we see a reasonable correction north... 1.18-1.21


this is mostly an NZD story.. its just too expensive. AUD still has some value left
Attached Image
Be hopeful in a winning position, and fearful in a losing position.
  • #383
  • Nov 4, 2013 8:03pm Nov 4, 2013 8:03pm
Quoting PipTrapper
Looks like a beautifully formed H/S on SPX500 backed up by a nice bearish hidden divergence on MacD and a normal divergence plus overbought signal on the RSX(5). Now if it can just break through the neckline which also happens to be the weekly pivot, I think we're good to dive. SPX500 H1 {image}
also in this one from 1770 and 1745

1770 is 0.25% risk/reward per 10 points.
1745 is 0.1% risk/reward per 10 points.
Be hopeful in a winning position, and fearful in a losing position.
  • #384
  • Nov 5, 2013 12:23am Nov 5, 2013 12:23am
Quoting Rag2RichesFX
oz kiwi monthly feels good to have cashed out the longs last week, and buy 100 pips lower this week still i remain bullish until we see a reasonable correction north... 1.18-1.21 this is mostly an NZD story.. its just too expensive. AUD still has some value left {image}

I also booked some profits on this pair last week... RBNZ's forward guidance on interest rate policy appears to be a subject of reconsideration, which may dampen the mood on the Kiwi in general (or at least bring the mood down from extremely elated levels)

The Ozzie on the other hand should continue to benefit from reinvigorated Chinese economic numbers... this currency is my largest exposure atm... AUD/USD looks like its got some juice in the tank to get higher

Daily
Attached Image (click to enlarge)
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90% of people, are wrong about 90% of everything, 90% of the time...
  • #385
  • Nov 5, 2013 2:56am Nov 5, 2013 2:56am
Quoting theDHT
{quote} I also booked some profits on this pair last week... RBNZ's forward guidance on interest rate policy appears to be a subject of reconsideration, which may dampen the mood on the Kiwi in general (or at least bring the mood down from extremely elated levels) The Ozzie on the other hand should continue to benefit from reinvigorated Chinese economic numbers... this currency is my largest exposure atm... AUD/USD looks like its got some juice in the tank to get higher Daily {image}
Hey DHT... welcome back. Glad you're also more bullish the Aussie as opposed the Kiwi. As always time will tell, but I'm targeting a minimum of 1.1650 with potential for 1.20+ on the AUD/NZD
Those who say it cannot be done should not interrupt those who are doing it
  • #386
  • Nov 5, 2013 3:28am Nov 5, 2013 3:28am
Cup and handle formation on USD/CHF
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Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #387
  • Nov 5, 2013 3:40am Nov 5, 2013 3:40am
Quoting PipTrapper
Long G/U at 1.5928 to hold over weekend. No TP and No SL. Will exit as PA dictates. Trade taken on H1 oversold and bullish divergence conditions against support. GBPUSDCALL
Quoting PipTrapper
{quote} Closed half of position at 1.5968 for +40 pips Holding remainder with SL @ BE GBPUSDCALL
Closed the other half at 1.6028 for +100 pips

GBPUSDCALL
Those who say it cannot be done should not interrupt those who are doing it
  • #388
  • Nov 5, 2013 6:53am Nov 5, 2013 6:53am
Quoting PipTrapper
Short EUR/AUD at 1.4489 Target 1.4210 SL 1.4575 RR: 3.25:1 EURAUDCALL
Quoting PipTrapper
{quote} Moved SL down to 1.4535 New RR = 6.07:1 EURAUDCALL
Quoting PipTrapper
{quote} Moved SL to BE New RR= 1:0 EURAUDCALL
Quoting PipTrapper
{quote} +210 pips in the green so far Moved SL to lock in 100 pips EURAUDCALL {image}
Quoting PipTrapper
{quote} Closed half position at 1.4210 for +279 pips Remainder floating with SL set to BE+100 EURAUDCALL
Moved TP down to 1.3520
Moved SL to 1.4310

EURAUDCALL
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Those who say it cannot be done should not interrupt those who are doing it
  • #389
  • Nov 5, 2013 7:07am Nov 5, 2013 7:07am
Quoting PipTrapper
{quote} {quote} {quote} {quote} {quote} Moved TP down to 1.3520 Moved SL to 1.4310 EURAUDCALL {image}
I was in this trade but doubted it! A real shame, it has potential. Plus carry

Maybe i can find a nice rally to sell, as the potential is still there.

I'd like to see 1.39-1.35 then i will buy
Be hopeful in a winning position, and fearful in a losing position.
  • #390
  • Nov 5, 2013 7:31am Nov 5, 2013 7:31am
Quoting theDHT
{quote} I also booked some profits on this pair last week... RBNZ's forward guidance on interest rate policy appears to be a subject of reconsideration, which may dampen the mood on the Kiwi in general (or at least bring the mood down from extremely elated levels) The Ozzie on the other hand should continue to benefit from reinvigorated Chinese economic numbers... this currency is my largest exposure atm... AUD/USD looks like its got some juice in the tank to get higher Daily {image}
agreed it can see a little higher but i doubt above 9700

in any case, when the yellow and red moving averages cross could provide a good opportunity

first cross is usually a continuation signal (bearish ema cross creates bullish price action), second cross (or 3rd or 4th) is the trend change
Be hopeful in a winning position, and fearful in a losing position.
  • #391
  • Nov 5, 2013 9:04am Nov 5, 2013 9:04am
Quoting Rag2RichesFX
{quote} also in this one from 1770 and 1745 1770 is 0.25% risk/reward per 10 points. 1745 is 0.1% risk/reward per 10 points.
burn baby burn
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Be hopeful in a winning position, and fearful in a losing position.
  • #392
  • Nov 5, 2013 9:27am Nov 5, 2013 9:27am
Quoting Rag2RichesFX
{quote} burn baby burn {image}

Attached Image
Those who say it cannot be done should not interrupt those who are doing it
  • #393
  • Edited 11:50am Nov 5, 2013 11:11am | Edited 11:50am
Quoting Rag2RichesFX
{quote} burn baby burn {image}
possibly 1800 first...

this is momentum and nothing else

but with strong momentum comes strong unwinding. trying to catch it right.

monthly should hit 1800 and close as a doji..
or the highs could easily hold and it could close as hanging man

thats why i have to go down to the 1hr/4hr time frames to see how it will all play out

might be best to wait for a red monthly close to enter
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Be hopeful in a winning position, and fearful in a losing position.
  • #394
  • Nov 5, 2013 12:56pm Nov 5, 2013 12:56pm
gold monthly

im getting all giddy.. we are getting so close now


anyone else hear the rumors about a gold backed nordic euro?
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Be hopeful in a winning position, and fearful in a losing position.
  • #395
  • Nov 5, 2013 1:46pm Nov 5, 2013 1:46pm
Quoting Rag2RichesFX
{quote} possibly 1800 first... this is momentum and nothing else but with strong momentum comes strong unwinding. trying to catch it right. monthly should hit 1800 and close as a doji.. or the highs could easily hold and it could close as hanging man thats why i have to go down to the 1hr/4hr time frames to see how it will all play out might be best to wait for a red monthly close to enter {image} {image}
Might be best to wait for NFP.
The market has priced in a No Taper till Q2 2014 and is expecting a 125K NFP as well as a UE uptick to 7.2%
The bar is set quite low so the risk for the equity market is very much to the downside (assuming that good data is still bad for equities)
Of course if the data is worse than expected, we'll blow away 1800 in a flash.
Those who say it cannot be done should not interrupt those who are doing it
  • #396
  • Nov 5, 2013 1:48pm Nov 5, 2013 1:48pm
Quoting Rag2RichesFX
gold monthly im getting all giddy.. we are getting so close now anyone else hear the rumors about a gold backed nordic euro? {image} {image}
HaHa... That won't happen without significant changes to existing treaties. The EU cannot even agree on how to set up a banking union, let alone another currency. Don't hold your breath.

The only gold backed currency I can envision in the next decade is the Renminbi.
Those who say it cannot be done should not interrupt those who are doing it
  • #397
  • Edited 10:34pm Nov 5, 2013 9:43pm | Edited 10:34pm
Quoting PipTrapper
{quote} HaHa... That won't happen without significant changes to existing treaties. The EU cannot even agree on how to set up a banking union, let alone another currency. Don't hold your breath. The only gold backed currency I can envision in the next decade is the Renminbi.
that makes sense, im definitely with you on gold backed Renminbi.. China imported 1/4th of world production this year

keywords 'in the next decade'

audnzd stopped out... if it makes a new low near 1.10 it will be one hell of a buying opportunity.

but gold doing good so far, entered 1308.50

EA looks like it might see a correction north.
could be a good opportunity to add.

my friend made 47k (~30k pounds) on the gold drop from 1360 to 1310
short 600 ounces (or maybe it was 700), $3 stop loss on 1359 entry, $2500 (~1500 gbp) at risk..
great trade.. and a tiny risk (for him)
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Be hopeful in a winning position, and fearful in a losing position.
  • #398
  • Nov 6, 2013 1:41am Nov 6, 2013 1:41am
anyone trading gold
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Be hopeful in a winning position, and fearful in a losing position.
  • #399
  • Nov 6, 2013 1:51am Nov 6, 2013 1:51am
Quoting PipTrapper
{quote} Hey DHT... welcome back. Glad you're also more bullish the Aussie as opposed the Kiwi. As always time will tell, but I'm targeting a minimum of 1.1650 with potential for 1.20+ on the AUD/NZD

I am, a bit more biased towards the Ozzie atm, but the situation is quite fluid on these two since they both seem to have pretty good prospects over the near term (next few months)... and Kiwi unemployment data was good (as expected) which may have RBNZ flip flopping on benchmark guidance as we go fwd...

I am playing both of these pairs to the upside against the USD atm, working well so far with fingers crossed and tight stops... I think the time to get short will come again, but there is more upside before we get there...

Hope you've been well dude!

I have been out of Cable for a few weeks, but Im looking at getting back in... the case is the same as it was before... the technicals are starting to line up... will post a chart after the eco data today

cheers
90% of people, are wrong about 90% of everything, 90% of the time...
  • #400
  • Nov 6, 2013 1:52am Nov 6, 2013 1:52am
Quoting PipTrapper
Cup and handle formation on USD/CHF {image} {image}

been long this pair since mid last week, its been a nice play so far
90% of people, are wrong about 90% of everything, 90% of the time...
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