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My trades by Dave

  • #1,461
  • Edited 7:45pm Aug 23, 2006 7:31pm | Edited 7:45pm
Unless it reverses and gives a buy signal I wont get a rentry signal. CCI is and ewo are both already in sell mode and the price remains under the pivot wich is 1.2805.
I am going to use a different entry method on this one. I have fibo arches, OsMa, and rsi for signal.

Moving Average of Oscillator(OsMa) is the difference between the oscillator and oscillator smoothing. settings-21,13,34. It gives a little bit different signal. In this case it will react quicker to small changes.

The fibo arches take into account time.
And Rsi to give signal on break and retest of rsi's trend line.

Heres chart on the setup.

Dave

edit: notice how in this move and time frame the significance of the fibo's 50% had even consilidation on it and 38.1 and 61.8 fibos offer current support and resistance.
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  • #1,462
  • Aug 23, 2006 8:19pm Aug 23, 2006 8:19pm
I blinked and missed the initial move. But the initial break looks good so I am in short 1.2765 s/l 1.2785

There is another chance for entry on the wave 2 pullback. The rsi trend line will be retested on the wave 2 and that is the next signal. I will take small profit on this on and get back in for the bigger move on the retest.

Dave
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  • #1,463
  • Aug 23, 2006 11:30pm Aug 23, 2006 11:30pm
Rsi looks like it has curled up, retested line and is curling back down. According to this the move should be soon. The price consilidated on my entry so there was no exit and wait for re-entry.

Here is chart

Dave
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  • #1,464
  • Aug 23, 2006 11:47pm Aug 23, 2006 11:47pm
I am going to start waching gbp to see how the signals work on that pair too.

Looks like cci could signal short soon along with ewo. Price is under pivot but needs to break past the 55 ema.

Dave
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  • #1,465
  • Aug 23, 2006 11:56pm Aug 23, 2006 11:56pm
Love The Charts David.
  • #1,466
  • Aug 24, 2006 12:27am Aug 24, 2006 12:27am
Quoting james16
Love The Charts David.
Thanks to you Jim

Dave
  • #1,467
  • Aug 24, 2006 12:30am Aug 24, 2006 12:30am
Quoting xxDavidxSxx
I am going to start waching gbp to see how the signals work on that pair too.

Looks like cci could signal short soon along with ewo. Price is under pivot but needs to break past the 55 ema.

Dave
I dunno gbp looking more like bounce off cci 0 line rather than gonna break.

Who knows euro is rising too and if it closes above 8 ema my trade is in danger.

Dave
  • #1,468
  • Aug 24, 2006 12:37am Aug 24, 2006 12:37am
Quoting xxDavidxSxx
I blinked and missed the initial move. But the initial break looks good so I am in short 1.2765 s/l 1.2785

There is another chance for entry on the wave 2 pullback. The rsi trend line will be retested on the wave 2 and that is the next signal. I will take small profit on this on and get back in for the bigger move on the retest.

Dave
exit 1.2776

-11 pips

Not likeing whe patterns formed now. that could have been a last push down befor a bounce.

waiting ewocci signal

Dave
  • #1,469
  • Aug 24, 2006 12:47am Aug 24, 2006 12:47am
Just looked and euro news about to come out. at 2am EST- in 20 min.

Price could be pushing up on early entry orders on antisipation. This usually gives you wich way the market wants to go.

I am going to trade this news based on "nudging" this is what I call it.

also with it above 8 ema and poked past 13 ema an inverted cliffhanger looks to be forming.

.long 1.2775 s/l 1.2760

Dave

I realized why I don't use rsi any more....lol....stickin to my guns from now on.
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  • #1,470
  • Aug 24, 2006 2:02am Aug 24, 2006 2:02am
heres another chart same entry but fully set up to move

Dave
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  • #1,471
  • Aug 24, 2006 4:11am Aug 24, 2006 4:11am
- 15 on pull back but I got right back in same spot on bounce.

s/l moved to just above entry @ 1.2780

cci ic well crossed 0 line and pivot is crossed

US news due out later

Dave
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  • #1,472
  • Aug 24, 2006 6:05am Aug 24, 2006 6:05am
we got 2 hrs of full ewocci signal 1.2830.

I am already in so its just good confirmation


Dave
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  • #1,473
  • Aug 24, 2006 6:10am Aug 24, 2006 6:10am
Good confirmation of what exactly?
  • #1,474
  • Aug 24, 2006 6:17am Aug 24, 2006 6:17am
Quoting Yardie
Good confirmation of what exactly?
the long I entered at 1.2775, That was off a ma cross. And quick bounce. Not good but for a short term trade.
But this signals on a larger scale so it tells me to stay in the trade.

Dave
  • #1,475
  • Aug 24, 2006 6:30am Aug 24, 2006 6:30am
moving s/l to 1.2815 locking in 40

news out in an hour so i'll trail s/l just below the new support the largest bear candle found. Its in a wedge up and could break down and retrace 100% the wedge.

Dave
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  • #1,476
  • Aug 24, 2006 12:28pm Aug 24, 2006 12:28pm
Quoting xxDavidxSxx
moving s/l to 1.2815 locking in 40

news out in an hour so i'll trail s/l just below the new support the largest bear candle found. Its in a wedge up and could break down and retrace 100% the wedge.

Dave
s/l was hit.

+40 pips

Dave
  • #1,477
  • Aug 24, 2006 12:57pm Aug 24, 2006 12:57pm
Price did a U turn on news. Funny CNBC talked this was dollar negative news. But dollar rose on the news.

Any how...I have noticed a large wedge that could be forming. The price did almost 100% retrace but not all the way and there is trend line support ahead.



I expect the price to do at least 2 more trips up to the top trend line in an a,b,c,d,e formation.I have taken a long position

1.2765 s/l 1.2740(just the other side of last bottom and trend line support.)

this would make this down move a wave 2 or wave b to a larger up move.

Dave
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  • #1,478
  • Aug 24, 2006 1:03pm Aug 24, 2006 1:03pm
Quoting xxDavidxSxx


There are alot of people looking for the price to reach well above 1.3000. And just as many that are still looking for the price to reach below 1.1640 major bottom.
So I belive there will be a nice ranged tug-of-war. around the 1.2800/2950 range. Once again probly tightening in range forming another large wedge.


Dave


Dave
was just a little off on the range I talked about 3 weeks ago in this post. Needed to extend the range down to 1.2750.

Dave
  • #1,479
  • Aug 24, 2006 1:23pm Aug 24, 2006 1:23pm
Heres a larger view of this apparent wedge.

Dave
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  • #1,480
  • Aug 24, 2006 2:02pm Aug 24, 2006 2:02pm
I think EURUSD will break 2750 overnight and head down to the 2600s. Its looking to me like up is off for now. Fundamentally speaking if bad USD news cannot bring up the EURUSD what will? The news out of the EUROzone itself is less than stellar. Gold is tanking as well, and gold tanking means strong USD.
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