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minosd777

Membre depuis Jan 02, 2012  43 messages 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?

Chikot

Membre depuis Jan 14, 2010  2186 messages 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.

minosd777

Membre depuis Jan 02, 2012  43 messages 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?


Chikot

Membre depuis Jan 14, 2010  2186 messages 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.

Chikot

Membre depuis Jan 14, 2010  2186 messages 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 .

Chikot

Membre depuis Jan 14, 2010  2186 messages 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.

minosd777

Membre depuis Jan 02, 2012  43 messages 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?

Chikot

Membre depuis Jan 14, 2010  2186 messages 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.

stevewalker

Membre depuis Jun 06, 2012  1360 messages 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.



Pièces jointes:

Trade the Trend, Defend to Price!
Chikot

Membre depuis Jan 14, 2010  2186 messages 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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