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Rsi Breakout

bizWiz
Mar 15 2010 at 15:04
397 posts
closed the gbusd for 20 pips profit.

the usd is gaining on all other pairs, so it doesn't look like a good direction to trade with.

Sleep is for the weak.
bizWiz
Mar 16 2010 at 18:58
397 posts
although exited, the price movement was nearly perfect 😞

<a href='' target='_blank'><img src=''/></a>

too bad i exited the trade early..

Attachments:


Sleep is for the weak.
bizWiz
Mar 17 2010 at 12:30
397 posts
i'm really surprised how the usdjpy is still holding it's levels, trading in a tight range while all of the other usd pairs are all over the place.

i think once it breaks, the move will be very strong. i'm still short usdjpy, so think it should break downwards.

Sleep is for the weak.
bizWiz
Mar 17 2010 at 12:42
397 posts
on another note, take a look at how price moves between support and resistance:

<a href='' target='_blank'><img src=''/></a>

pure price action, no indicators.

Attachments:


Sleep is for the weak.
bizWiz
Mar 18 2010 at 09:12
397 posts
the gbpusd is still following the support/resistance level beautifully - is anyone seeing this?

on another note, the usdjpy finally showing melt-down signs; i'm expecting it to have a sharp and quick drop once it breaks completely.

Sleep is for the weak.
pepsifx
Mar 18 2010 at 12:50
1 posts
yes, I'm looking gbp/usd . I get 4 trades in a row without stoploss. Since I read this post, I'm starting to study and analyisng the channels , because before it I was using only fib's levels and pivot points, and with the channels included in my analisys , it's perfect when all this factors match one with others, the turning points are very previsible.

biz0101 , Have you a instant messenger? msn? I would like to talk with you and this strategie, change some ideas =)

good day for all forex traders present here.

bizWiz
Mar 19 2010 at 12:36
397 posts

pepsifx posted:
    yes, I'm looking gbp/usd . I get 4 trades in a row without stoploss. Since I read this post, I'm starting to study and analyisng the channels , because before it I was using only fib's levels and pivot points, and with the channels included in my analisys , it's perfect when all this factors match one with others, the turning points are very previsible.

biz0101 , Have you a instant messenger? msn? I would like to talk with you and this strategie, change some ideas =)

good day for all forex traders present here.


don't have much time for instant messaging, but please feel free to post your questions here, i'm sure others will benefit also.

i've tried to use fibs in the past, but didn't find it useful.

i'm trying a long eurusd - a bit risky due to the recent strong move, but there's a good potential for a 300 pip move upward, with a risk of just about 150 pips, so it's a 1:2 risk to reward ratio.

take a look:
<a href='' target='_blank'><img src=''/></a>

Attachments:


Sleep is for the weak.
bizWiz
Mar 22 2010 at 09:58
397 posts
closed all positions for roughly 50 pips loss.

the usd is gaining grounds on all pairs, so i've decided to close all positions which were usd short, and wait for a new entry.

Sleep is for the weak.
bizWiz
Mar 22 2010 at 17:27
397 posts
moving on..

trying a short on eurusd:

<a href='' target='_blank'><img src=''/></a>

the first channel has failed, and a secondary channel formed. the price has retraced to the previous support of the first channel which now acts as resistance (upper yellow point), so i expect it to go down (lower yellow point). if the price gets to the second yellow point, i think the support is just to weak to hold it and the price should continue even lower.

i'm ready to get my pips back and some more! 😄

Attachments:


Sleep is for the weak.
bizWiz
Mar 23 2010 at 10:19
397 posts
eur has taken a quick turn and for now it's looking it's heading south. we'll see.

Sleep is for the weak.
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