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SimpleFib Trading

  • #141
  • Mar 4, 2014 7:17am Mar 4, 2014 7:17am
Quoting simoneg
{quote} Trade protected +2pips {image}
closed +70pips
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  • #142
  • Mar 4, 2014 7:18am Mar 4, 2014 7:18am
Quoting simoneg
{quote} Trade protected +2pips {image}
closed +59pips
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  • #143
  • Mar 4, 2014 7:19am Mar 4, 2014 7:19am
Quoting simoneg
{quote} Risk reduced to -12pips. {image}
closed +27pips
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  • #144
  • Mar 4, 2014 9:25am Mar 4, 2014 9:25am
Sell Limit on EJ ang GJ H4 @ swing resistance. Short NU and NJ @ H4 swing resistance.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ejh4short.jpg Size: 98 KB
Click to Enlarge Name: gjh4short.jpg Size: 96 KB
Click to Enlarge Name: njh4short.jpg Size: 101 KB
Click to Enlarge Name: nuh4short.jpg Size: 96 KB
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  • #145
  • Mar 4, 2014 9:34pm Mar 4, 2014 9:34pm
  •  Ravelt
  • | Joined Feb 2013 | Status: The Closer You Look The Less You Se | 194 Posts
Quoting simoneg
Sell Limit on EJ ang GJ H4 @ swing resistance. Short NU and NJ @ H4 swing resistance. {image} {image} {image} {image}
is this a counter trend trade ? or do you find they already toppish ?
  • #146
  • Edited 4:11am Mar 5, 2014 3:46am | Edited 4:11am
Quoting Ravelt
{quote} is this a counter trend trade ? or do you find they already toppish ?
Both Ravelt but NJ seems to be headed to daily major swing resistance 86.24. NU also looking like major daily swing resistance 0.8448
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  • #147
  • Mar 5, 2014 3:48am Mar 5, 2014 3:48am
Quoting simoneg
Sell Limit on EJ ang GJ H4 @ swing resistance. Short NU and NJ @ H4 swing resistance. {image} {image} {image} {image}
NJ shorts stopped -45 and -32pips. I cancelled the GJ and EJ limit orders. Waiting a bit more on these.
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  • #148
  • Edited 4:13am Mar 5, 2014 3:53am | Edited 4:13am
Liking EJ to short major H4 swing resistance 140.79. Otherwise, price will head up to daily major swing resistance @ 143.88
Attached Image (click to enlarge)
Click to Enlarge Name: ejtrade.jpg Size: 75 KB
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  • #149
  • Mar 5, 2014 4:16am Mar 5, 2014 4:16am
Quoting simoneg
Liking EJ to short major H4 swing resistance 140.79. Otherwise, price will head up to daily major swing resistance @ 143.88 {image}
Risk reduced to -12pips
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  • #150
  • Mar 5, 2014 4:32am Mar 5, 2014 4:32am
closed ej short +20, closed nu short -20. shorts tricky at the moment. EJ sitting steadily on H4 major swing long level and daily swing resistance and major swing short. Buyers may be lined up here.
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  • #151
  • Mar 5, 2014 7:11am Mar 5, 2014 7:11am
Quoting simoneg
Liking EJ to short major H4 swing resistance 140.79. Otherwise, price will head up to daily major swing resistance @ 143.88 {image}
Long at swing long watching PA at swing resistance. Trade protected +1
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  • #152
  • Mar 5, 2014 7:17am Mar 5, 2014 7:17am
Long GJ @ H4 Swing long, watching PA at swing resistance. Trade protected +1
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Click to Enlarge Name: gjlong.jpg Size: 74 KB
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  • #153
  • Mar 5, 2014 9:30am Mar 5, 2014 9:30am
How is every one here; I hope and wish all you be very well.

I am trying 4H charts now:
usdjpy short pending order @102.30 sl:102.57 tp:102.15 & 101.75
Attached Image (click to enlarge)
Click to Enlarge Name: 4husdjpyh4.png Size: 29 KB
  • #154
  • Mar 5, 2014 9:55am Mar 5, 2014 9:55am
NZDJPY 4H:
sell order @86.030 sl:86.35 tp:85.62
Attached Image (click to enlarge)
Click to Enlarge Name: 4nzdjpyh4.png Size: 23 KB
  • #155
  • Mar 5, 2014 10:07am Mar 5, 2014 10:07am
Hey 786, don't want to interrupt your trade plan, but be careful with the usjpy short. The weekly already achieved its bear targets, closed above weekly resistance and retraced to weekly long, which may be area for continuation to weekly bull targets. Also its lower risk to short at resistance as per your chart than below the bar as you have it. You may be taken in and stopped out. So, just some information to consider in your trade.
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  • #156
  • Mar 5, 2014 10:10am Mar 5, 2014 10:10am
Quoting simoneg
Hey 786, don't want to interrupt your trade plan, but be careful with the usjpy short. The weekly already achieved its bear targets, closed above weekly resistance and retraced to weekly long, which may be area for continuation to weekly bull targets. Also its lower risk to short at resistance as per your chart than below the bar as you have it. You may be taken in and stopped out. So, just some information to consider in your trade.
Thanks, I will watch it carefully. Just want a quick scalp.
  • #157
  • Mar 5, 2014 10:11am Mar 5, 2014 10:11am
Quoting 786 trading
{quote} Thanks, I will watch it carefully. Just want a quick scalp.
cool
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  • #158
  • Mar 5, 2014 12:04pm Mar 5, 2014 12:04pm
Hi Simoneg,
I am trying to learn to read the charts.
Here is example chart of 4 hour EURUSD. First it up side move, then downside move (retracement) now from candles can we say it found the bottom and will continue to upward or up move is not strong so will continue to down. I did not put any fibo on it ... just trying to read the swings high low.
Please guide me how you will read this chart and how you will trade this chart.

Regards,
Attached Image (click to enlarge)
Click to Enlarge Name: qeurusdh422.png Size: 50 KB
  • #159
  • Edited 2:33pm Mar 5, 2014 1:36pm | Edited 2:33pm
Quoting 786 trading
Hi Simoneg, I am trying to learn to read the charts. Here is example chart of 4 hour EURUSD. First it up side move, then downside move (retracement) now from candles can we say it found the bottom and will continue to upward or up move is not strong so will continue to down. I did not put any fibo on it ... just trying to read the swings high low. Please guide me how you will read this chart and how you will trade this chart. Regards, {image}
Sorry 786, went on the road and just got back in?

Ok firstly, if you are trading the H4 naked as you have it here, the first question is whats taking place on the daily...
-> what presently is the dominant trend?
-> if H4 is doing opposite, check daily to see why...example, did buyers just break a high/swing high? if so we can anticipate a pullback, keeping in mind this is likely retracement based on daily uptrend
->this trade would be counter trend so if you take it, that is short the uptrend, your eye should be on any support that is most likely to facilitate buying continuation

So with this information in hand, I will mark these support areas on my chart and take my trades as follows (of course you know I must draw fibbo as that's what we are trading here)

Next I will fib the hi/low of the last swing to see if targets were achieved from the last buy up.
On the second chart, you have two trade entries and tp can be at anyone of the support levels or...
As shown in chart 3, fib the high low of the new swing created after the buy up and tp at the bear targets
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eueg1.jpg Size: 68 KB
Click to Enlarge Name: eueg2.jpg Size: 70 KB
Click to Enlarge Name: eueg3.jpg Size: 84 KB
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  • #160
  • Mar 5, 2014 2:40pm Mar 5, 2014 2:40pm
Euro is now reacting to second and third support levels. So the best thing to do now is fib the hi/low of the minor h4 swing and the major h4 swing to see if price could buy up from here.
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