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Davit's BB Wave System

  • #901
  • Sep 2, 2014 10:37am Sep 2, 2014 10:37am
Cut All my AN and CAD/JPY shorts
-820pips

Still running UJ red but getting close to cut this as well

New Trades EJ shorts and E/AUD shorts
Euro is overreaching.Anticipate Draghi start rolling the QE 1.25 Euro is not out of reach.
In trading, you have to be defensive and aggressive at the same time
  • #902
  • Sep 3, 2014 1:53am Sep 3, 2014 1:53am
Closed EA shorts at 4113 from 4151 2x
+76pips
In trading, you have to be defensive and aggressive at the same time
  • #903
  • Sep 3, 2014 3:15pm Sep 3, 2014 3:15pm
Quoting Davit
Closed EA shorts at 4113 from 4151 2x +76pips
Hello Davit,
Was this you trading the news? With Tuesday's good bull candle moving away from the BBands and the RSI coming out of the 30, I wasn't looking for a short. If you have the time, would you let us know why you thought of shorting please?
Kan
Edit: Sorry. Have just seen your Draghi comment above.
Thanks for your help, warmth and straight talking Heather.
  • #904
  • Sep 3, 2014 3:22pm Sep 3, 2014 3:22pm
Quoting Kanderpro
{quote} Hello Davit, Was this you trading the news? With Tuesday's good bull candle moving away from the BBands and the RSI coming out of the 30, I wasn't looking for a short. If you have the time, would you let us know why you thought of shorting please? Kan Edit: Sorry. Have just seen your Draghi comment above.
Hi K
Too bad I exited early.News came later.Trade was based on H4
It was continuation trade meaning Bear overall trend.
RSI and WR% were pointing down
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.H4.png Size: 47 KB
In trading, you have to be defensive and aggressive at the same time
  • #905
  • Sep 3, 2014 3:54pm Sep 3, 2014 3:54pm
Quoting Davit
{quote} Hi K Too bad I exited early.News came later.Trade was based on H4 It was continuation trade meaning Bear overall trend. RSI and WR% were pointing down {image}
Thanks
Thanks for your help, warmth and straight talking Heather.
  • #906
  • Sep 3, 2014 7:17pm Sep 3, 2014 7:17pm
Short AN at 1230 2x
I think Aussie is running out of steam
In trading, you have to be defensive and aggressive at the same time
  • #907
  • Sep 3, 2014 8:04pm Sep 3, 2014 8:04pm
Quoting Davit
Short AN at 1230 2x I think Aussie is running out of steam
Really?
The Market pays you to be disciplined
  • #908
  • Sep 4, 2014 7:36am Sep 4, 2014 7:36am
All My 12 EJ shorts hit TP 3670
+956pips

Positions were identical on 2 accounts
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH4.png Size: 42 KB
In trading, you have to be defensive and aggressive at the same time
  • #909
  • Edited 8:14am Sep 4, 2014 8:01am | Edited 8:14am
short AJ 2x 98.36
notice the fib
Attached Image (click to enlarge)
Click to Enlarge Name: AUDJPY.Daily.png Size: 37 KB
In trading, you have to be defensive and aggressive at the same time
  • #910
  • Sep 4, 2014 8:31am Sep 4, 2014 8:31am
Quoting Davit
All My 12 EJ shorts hit TP 3670 +956pips Positions were identical on 2 accounts {image}

Nicely done Sir

Bouncing back nicely

Are you still using your other BBwave Template ?

GL

Rooi
We miss 100% of the shots we don't take
  • #911
  • Sep 4, 2014 8:34am Sep 4, 2014 8:34am
notice the fib , hi Davit , plz forgive my ignorance = could u Xplain
  • #912
  • Sep 4, 2014 8:38am Sep 4, 2014 8:38am
Quoting Rooi
{quote} Nicely done Sir Bouncing back nicely Are you still using your other BBwave Template ? GL Rooi
Thanks Rooi
Its important to me that I expose myself openly.I did take huge losses on CAD/J and AN which was learning experience to me and made it back+some more.
I use BBwave all my trading but I supplement with harmonics fibs etc.
Aussie is being pushed hard now.Stop hunting I guess
In trading, you have to be defensive and aggressive at the same time
  • #913
  • Sep 4, 2014 8:43am Sep 4, 2014 8:43am
Quoting pips777
notice the fib , hi Davit , plz forgive my ignorance = could u Xplain
1.200 fib which is next most important fib after 1.618.Price past 1.618
Notice how PA just got stopped hard on it.
It could break higher but its also in my BB zone so taking a chance on it
In trading, you have to be defensive and aggressive at the same time
  • #914
  • Sep 4, 2014 8:47am Sep 4, 2014 8:47am
Quoting Davit
{quote} 1.200 fib which is next most important fib after 1.618.Price past 1.618 Notice how PA just got stopped hard on it. It could break higher but its also in my BB zone so taking a chance on it
=======
k thanks m8
  • #915
  • Sep 4, 2014 8:48am Sep 4, 2014 8:48am
Quoting Davit
short AJ 2x 98.36 notice the fib {image}
Nice on the EUR/JPY.

I never did take up any new positions. I should have taken advantage of the ECB easing leak once it was confirmed by Reuters and Zero Hedge and shorted Euro heavy but I played it safe and stuck with my existing trades.

I'd gotten out of my EUR/AUD short when it hit the 100% retracement again at 1.404 and set a new short entry at 1.406, but it only got to 1.40575 when the ECB easing program was leaked so I missed the first drop. I got in on the first bounce at 1.3955, out at 1.385, now back in at 1.390 -- I figure 1.385 is good for another hit and that makes up for half the profit I didn't make from the initial drop and that's good enough I suppose.

I finally ate the loss and exited my AUD/NZD short around 1.122 and re-entered short at 1.250. Hopefully we're right and it finally pulls back because I rode that the wrong way far too long. Having said that, here it is back up at 1.250 again after I was reassured by the move down to 1.123 that it was going to behave this time. Oh well, that's how it goes sometimes.

Except for my gold long, which I had to re-enter because of a stupid data spike (only cost me $50 to get back in, but it's the principle of the matter), that's all I'm trading today. I'll let things resolve themselves over the course of the day, or maybe just call it a week rather than mess around with non-farm payrolls out tomorrow.

That's the nice thing about this business -- you can trade whenever you feel like it because there will always be new opportunities if you're patient.
You can always make money tomorrow provided you don't lose it today.
  • #916
  • Sep 4, 2014 8:56am Sep 4, 2014 8:56am
Quoting KADC
{quote} Nice on the EUR/JPY. I never did take up any new positions. I should have taken advantage of the ECB easing leak once it was confirmed by Reuters and Zero Hedge and shorted Euro heavy but I played it safe and stuck with my existing trades. I'd gotten out of my EUR/AUD short when it hit the 100% retracement again at 1.404 and set a new short entry at 1.406, but it only got to 1.40575 when the ECB easing program was leaked so I missed the first drop. I got in on the first bounce at 1.3955, out at 1.385, now back in at 1.390 -- I figure 1.385...
Hi KADC
It was obvious ECB was going to take action.That's why I piled my shorts on EJ. Draghi repeatedly said low inflation was a concern plus extreme high unemployment.
Aussie is getting money from Euro now. Its "save heaven" I may pull the plug on AN and AJ by 1pm today if it continues in red.Need to know how both behave after London.
In trading, you have to be defensive and aggressive at the same time
  • #917
  • Sep 4, 2014 9:42am Sep 4, 2014 9:42am
Quoting Davit
{quote} Hi KADC It was obvious ECB was going to take action.That's why I piled my shorts on EJ. Draghi repeatedly said low inflation was a concern plus extreme high unemployment. Aussie is getting money from Euro now. Its "save heaven" I may pull the plug on AN and AJ by 1pm today if it continues in red.Need to know how both behave after London.
If the Canadian employment data tomorrow is positive and can push USD/CAD below 1.08, I think I'll pile on some Canadian long trades as it's currently outperforming all the other minors. That would push weekly USD/CAD RSI below 50 (sitting there now and pointing down) with trendline support at 1.0725 and the 38.2% Fibonacci at prior price support at 1.0615 which is a cleaner looking destination than AUD/USD which is in the middle of its consolidation range and the NZD/USD which is hanging out in no-man's land. That's not to say I'll play it against USD necessarily, just that USD is my currency barometer.

USD/CAD weekly
Attached Image (click to enlarge)
Click to Enlarge Name: USD.CAD - 140904 weekly.jpg Size: 349 KB



addendum: I'm taking one more AUD/NZD short at 1.12625 with a tight stop which is Fibonacci confluence with the 200% extension of the prior move down. Failing that, I'll try a new short entry from 1.128 which is the 27.2% extension of the move up from Monday to Wednesday. One good pullback will erase my losses in this pair -- that's not a smart way to trade but it will make me feel better.
You can always make money tomorrow provided you don't lose it today.
  • #918
  • Edited 1:34pm Sep 4, 2014 12:55pm | Edited 1:34pm
GU longs 2x 6347
Be cautious that GU is in parabolic dive but I figure after 122pip dive there must be a reaction.Orders are small.They are my scouts
Edit Closed -12pips
In trading, you have to be defensive and aggressive at the same time
  • #919
  • Sep 4, 2014 1:21pm Sep 4, 2014 1:21pm
Quoting KADC
{quote} If the Canadian employment data tomorrow is positive and can push USD/CAD below 1.08, I think I'll pile on some Canadian long trades as it's currently outperforming all the other minors. That would push weekly USD/CAD RSI below 50 (sitting there now and pointing down) with trendline support at 1.0725 and the 38.2% Fibonacci at prior price support at 1.0615 which is a cleaner looking destination than AUD/USD which is in the middle of its consolidation range and the NZD/USD which is hanging out in no-man's land. That's not to say I'll play...
Your reasoning is sound however the tight range has been holding for good while.I suggest wait higher then short.
Good data on Cad in the past proven not very effective.This is partly due to oil prices being low
Looking at sharp tails on candles suggest any retrace is quickly bought up.
Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.Daily.png Size: 47 KB
In trading, you have to be defensive and aggressive at the same time
  • #920
  • Sep 4, 2014 1:55pm Sep 4, 2014 1:55pm
Quoting Davit
{quote} Your reasoning is sound however the tight range has been holding for good while.I suggest wait higher then short. Good data on Cad in the past proven not very effective.This is partly due to oil prices being low Looking at sharp tails on candles suggest any retrace is quickly bought up. {image}
You could also say that image demonstrates a lower-low followed by a lower-high -- a bearish breakout signal. If USD/CAD breaks below 1.08 tomorrow I don't think it will move back into the consolidation zone. Then again, I didn't think anyone would repeatedly try to force gold down when London was open just after an easing program was announced when they could waited and done it for a fraction of the cost during the Asian session, so what do I know.
You can always make money tomorrow provided you don't lose it today.
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