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Member Since Jan 02, 2012 43 posts
minosd777
Jun 25 2012 at 09:25
My experience tells me that trading the GBP in any cross is very difficult...the wind can change very quick in these pairs, I will never trade GBP again, exept if I see a major signal..
what kind of signals do you use? |
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Member Since Jan 14, 2010 2186 posts
Chikot
Jun 25 2012 at 14:07
I have 2 signals. The first cross of ema's show me direction in which i am going to look for trade. Then i am waiting for good candlestick signal on daily chart. It is trend trading method but I can get speculative if there is strong signal that trend might be over.
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Member Since Jan 02, 2012 43 posts
minosd777
Jun 26 2012 at 13:45
Somtimes I look for the Moving Averages to show me were i can expect support and resistance, but I never look for candlestick patterns, most of the time i take my trades based on simple chart drawings and speculative positions when I feel there is a strong momentum going on. But I realise I have to broaden my horizon and learn some new techniques.
Tell me: on what basis did you took the $/Yen and $/CHF long position? |
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Member Since Jan 14, 2010 2186 posts
Chikot
Jun 26 2012 at 16:59
Ok, both pairs had ema's cross . missed foirst entry on usd/chf, better one. waited for pull back but was not here when it happened so entered about 15-20 pips at worse price. according to EMA's it is in uptrend.
so is USD/JPY, however there was not any candlestick formation so I simply waited for it to come down to support level and show that there is interest there so I bought. also, usd/jpy made higher low on daily last week. so, by all means it is in up trend now. I am on the verge to close gbp/usd at loss before stop. Ema's touching and if they cross against me I will close the trade. also 1.5650 is an upper boundary of resistance area created before on daily. |
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Member Since Jan 14, 2010 2186 posts
Chikot
Jun 26 2012 at 17:01
eur/jpy was a speculative trade as ema's have not crossed yet. just overall price action and break of 100.00 to downside with 100.00 serving as resistance on few attempts .
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Member Since Jan 14, 2010 2186 posts
Chikot
Jun 27 2012 at 07:36
still hanging and still there. no continuation in no direction. consolidating. watching gbp/usd.
from what i see it is far less risky to trade this style than day trade. |
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Member Since Jan 02, 2012 43 posts
minosd777
Jun 27 2012 at 12:44
So what periods do you use for the EMA's and what ema crosses are you looking for?
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Member Since Jan 14, 2010 2186 posts
Chikot
Jun 27 2012 at 16:33
I use ema's 7 and 21. I am looking for crosses on daily than wait for entry signal along the cross.
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Member Since Jun 06, 2012 1360 posts
stevewalker (stevewalker)
Jun 27 2012 at 22:56
when you look at monthly chart last 2-3 years bars are extreemly big. this is giving big opp on daily charts with big pips
daily there are up/down moves that break trends when coded, but manually that can be achived as you do.  Attachments:
Trade the Trend, Defend to Price! |
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Member Since Jan 14, 2010 2186 posts
Chikot
Jun 28 2012 at 08:35
Today is the last day I cannot follow my trades continuously. will be leaving as usually at 5;30 a.m. EST and be back after 2:00 p.m. est. will not be able to check on what will be going as today a lot of US and other Euro news. started taking profits and moved stop on e/u to be -2-3 pips. level looks just right and above 2 previous up waves.
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