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Defensive Trading the Force Continued

  • #101
  • Jan 13, 2016 4:26pm Jan 13, 2016 4:26pm
Quoting forexjedi
GBP USD, The pair approaches the lower TL. At this point All stops should be BE. Partial profits should be taken. Prepare for retracement and possible continuation. Like I said earlier there isn't much holding this pair up. If it continues bearish it could be a rough ride until the lowest point on this chart is breached. {image}
It may be that the GBP/USD goes on down to test the next monthly swing at 1.4230 since it has cleared the last one at 1.4550
Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSDMonthly.png Size: 26 KB
  • #102
  • Jan 13, 2016 4:27pm Jan 13, 2016 4:27pm
Quoting fxforfun
{quote} I was thinking we have a long set up coming but, it looks like it may slide down the TL? {image}
EUR USD

We could very well have a bullish signal coming up with this pair. Im gonna continue to watch it also. The pair has gone into a bullish cross with the MAs so now lets wait for continuation.
Stacking pips since 2002
  • #103
  • Jan 13, 2016 4:28pm Jan 13, 2016 4:28pm
Quoting forexjedi
{quote} EUR USD We could very well have a bullish signal coming up with this pair. Im gonna continue to watch it also. The pair has gone into a bullish cross with the MAs so now lets wait for continuation.
What exactly will trigger your entry on the EUR/USD?
  • #104
  • Jan 13, 2016 4:31pm Jan 13, 2016 4:31pm
Quoting fxforfun
{quote} It may be that the GBP/USD goes on down to test the next monthly swing at 1.4230 since it has cleared the last one at 1.4550 {image}


Indeed, my thoughts exactly. It does have a few barriers below it to clear but when/if it does it will open up a nice range for pips. Also noted is this pair is in a bearish cross with the MAs. Thats all I can say for now.
Stacking pips since 2002
  • #105
  • Jan 13, 2016 4:33pm Jan 13, 2016 4:33pm
Quoting fxforfun
{quote} What exactly will trigger your entry on the EUR/USD?
A close above the high of the previous candle.
Stacking pips since 2002
  • #106
  • Jan 13, 2016 4:44pm Jan 13, 2016 4:44pm
Quoting forexjedi
{quote} A close above the high of the previous candle.
If there is a close above of the high of the previous candle do you buy a break of the high (of that new candle) or what?
  • #107
  • Jan 13, 2016 4:51pm Jan 13, 2016 4:51pm
Quoting fxforfun
{quote} If there is a close above of the high of the previous candle do you buy a break of the high (of that new candle) or what?
A close above the previous candle high and ill open a market order on the open of the next candle with a stop just below the low of said candle. However lets wait for this to happen first then ill post a chart because right now its just speculation. Maybe itll never get there but if it does that is my plan.
Stacking pips since 2002
  • #108
  • Jan 13, 2016 5:03pm Jan 13, 2016 5:03pm
Quoting forexjedi
{quote} A close above the previous candle high and ill open a market order on the open of the next candle with a stop just below the low of said candle. However lets wait for this to happen first then ill post a chart because right now its just speculation. Maybe itll never get there but if it does that is my plan.
Got it, thanks
  • #109
  • Jan 13, 2016 5:09pm Jan 13, 2016 5:09pm
Quoting forexjedi
{quote} A close above the previous candle high and ill open a market order on the open of the next candle with a stop just below the low of said candle. However lets wait for this to happen first then ill post a chart because right now its just speculation. Maybe itll never get there but if it does that is my plan.
If this plan is executed my position will be a partial position with my risk at .25% for an approximate .75 to 1% gain by the time the price reaches the upper TL. If all this happens ill update with the next move.
Stacking pips since 2002
  • #110
  • Jan 13, 2016 5:28pm Jan 13, 2016 5:28pm
EUR USD

Wait for the close!
Stacking pips since 2002
  • #111
  • Jan 13, 2016 5:40pm Jan 13, 2016 5:40pm
EUR USD

Heres my thoughts. If it closes above the support line where it is now ill take a low risk .10 percent position stop below the purple line going for the long term TL. If it closes above the high of the candle two candle back I will take a .25 percent risk position with the stop in the same area. I choose low risk here because of the resistance barriers in place.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 63 KB
Stacking pips since 2002
  • #112
  • Jan 13, 2016 5:45pm Jan 13, 2016 5:45pm
EUR USD,

Some things that might stop me from this trade are a pin bar type close or a close to tight or right on the red upper resistance line.
Stacking pips since 2002
  • #113
  • Jan 13, 2016 6:04pm Jan 13, 2016 6:04pm
EUR USD,

To spice things up ive taken a live position long at the close of the last candle with a goal of the upper TL. Risk is .10 percent and SL is at 1.08862.

Attached Image (click to enlarge)
Click to Enlarge Name: EURUSD.png Size: 61 KB
Stacking pips since 2002
  • #114
  • Jan 13, 2016 6:10pm Jan 13, 2016 6:10pm
Quoting forexjedi
EUR USD, To spice things up ive taken a live position long at the close of the last candle with a goal of the upper TL. Risk is .10 percent and SL is at 1.08862. {image}
I am in the exact same trade
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 34 KB
  • #115
  • Jan 13, 2016 6:13pm Jan 13, 2016 6:13pm
Quoting fxforfun
{quote} I am in the exact same trade {image}
Partial profits when the price taps the resistence line.
Stacking pips since 2002
  • #116
  • Jan 13, 2016 6:20pm Jan 13, 2016 6:20pm
Do you move your SL then?
  • #117
  • Jan 13, 2016 6:22pm Jan 13, 2016 6:22pm
Quoting fxforfun
Do you move your SL then?
SL stands for now. If it closes above the support line stop will be BE with partial profit taken on contact with the line.
Stacking pips since 2002
  • #118
  • Jan 13, 2016 6:24pm Jan 13, 2016 6:24pm
Quoting forexjedi
{quote} SL stands for now. If it closes above the support line stop will be BE with partial profit taken on contact with the line.
  • #119
  • Jan 13, 2016 6:44pm Jan 13, 2016 6:44pm
I will hold this position as long as it remains closed above the support just below it. Chart is post 113.
Stacking pips since 2002
  • #120
  • Jan 13, 2016 6:54pm Jan 13, 2016 6:54pm
Quoting forexjedi
I will hold this position as long as it remains closed above the support just below it. Chart is post 113.
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