Euro is tanking. Looks to bounce at 1.2665 back up to 1.2700. Then who knows. 
Still moving within the channel, could break out to the bottom but i would say with the 100 pip drop already it is more likely to break to the upside. Im staying out. Sticking to GBP.
Still moving within the channel, could break out to the bottom but i would say with the 100 pip drop already it is more likely to break to the upside. Im staying out. Sticking to GBP.
nickerson334
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Blimey, back from swim, sauna and drink and out of GBPUSD - 9 / EURO - 20.
If the USDCAD isn't a high tight flag with a 100 point run I'll eat my hat.......saying that I've munched my way through a few in the past!
Long at 1.3311 out at 1.3281 and 1.3410.
Revised Score for the week so far is
GBP +112
EUR -65
CAD -15
not so great!
If the USDCAD isn't a high tight flag with a 100 point run I'll eat my hat.......saying that I've munched my way through a few in the past!
Long at 1.3311 out at 1.3281 and 1.3410.
Revised Score for the week so far is
GBP +112
EUR -65
CAD -15
not so great!
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nickerson334
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Hi chartman
Can you give me the symbols or direct me to 'symbol search'.
Can't see it anywhere!
Can you give me the symbols or direct me to 'symbol search'.
Can't see it anywhere!
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Zenda
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nickerson334
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I'm standing aside on gbp and euro. Got a feeling they're pulling back and it will be a few more days before any break to he topside. Very unsure though this morning.
usdcad high tight flag has also failed to run (am currently eating my hat as I write...I buy chocolate flavored ones these days! )............ so packing up until 2.30. Will close at a 20 tick OCO loss or breakeven, which ever materialieses first.
Have a good day guys.
usdcad high tight flag has also failed to run (am currently eating my hat as I write...I buy chocolate flavored ones these days!
)............ so packing up until 2.30. Will close at a 20 tick OCO loss or breakeven, which ever materialieses first.Have a good day guys.
nickerson334
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Breaking news from Bank of England. Could be a break of 735. Mervyn King's talking about inflation policy
Good move hammer, glad you're out o.k. No I havn't looked into it. I've been averaging 100 ticks per week at moment for the last 4 months, after two years work so although I do check out different ideas I'm happily strategised and hopefuly I've found a way that suits my mentality and lifestyle.
The high tight flag on the 1 minute chart could well push us to 760 and 800 very soon. I'm in at 709, out at 695 and 800.
Good move hammer, glad you're out o.k. No I havn't looked into it. I've been averaging 100 ticks per week at moment for the last 4 months, after two years work so although I do check out different ideas I'm happily strategised and hopefuly I've found a way that suits my mentality and lifestyle.
The high tight flag on the 1 minute chart could well push us to 760 and 800 very soon. I'm in at 709, out at 695 and 800.
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nickerson334
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I think it's worth a go as if the flag breaks up it's 40 tick 'pole' we'll be through the resistance.
Yeah, I'm not a fundamental strategist but it's helpful to get Bloomberg television for warnings of important news breaks as they usualy break the technical flow.
Quite often you can wait for the important figure to break (US jobless / interset rate decisions etc.) , standaside and watch the market fly around for a while.
When the dust has setttled somewhat, your'e often left with a consolidation pattern like this one or a reversal pattern.
Also you don't get f*cked up if you're in a trade, especialy if it's a 30 tick trade.
Theory correct so far. Lets see if it's enough to induce a break up.
Yeah, I'm not a fundamental strategist but it's helpful to get Bloomberg television for warnings of important news breaks as they usualy break the technical flow.
Quite often you can wait for the important figure to break (US jobless / interset rate decisions etc.) , standaside and watch the market fly around for a while.
When the dust has setttled somewhat, your'e often left with a consolidation pattern like this one or a reversal pattern.
Also you don't get f*cked up if you're in a trade, especialy if it's a 30 tick trade.
Theory correct so far. Lets see if it's enough to induce a break up.
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nickerson334
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I'm pulling back my stop to form 695 to 691 as there's support at 695 - 700. Still on a 3:1 PR ratio so happy with that. And still looking good also.
nickerson334
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Good move hammer. (gbp)
That's the other theory with flags. Buy at bottom sell at top. For me I lose focus after a while if I'm looking for 20 - 35 points, hence longer trades. That's what suits me though. I have strategised for 35 point runs with trail stops in the past successfuly but I found implementation too taxing.
Pleased that you're having a good day. Hope you're up on the week and if not, no worries, keep it rational. (as I always tell myself!)
Will watch Euro.
That's the other theory with flags. Buy at bottom sell at top. For me I lose focus after a while if I'm looking for 20 - 35 points, hence longer trades. That's what suits me though. I have strategised for 35 point runs with trail stops in the past successfuly but I found implementation too taxing.
Pleased that you're having a good day. Hope you're up on the week and if not, no worries, keep it rational. (as I always tell myself!)
Will watch Euro.
Cheers Nick. Flat at mo on all forex but short on dow. Looking for next entry. Awaiting the euro to bounce. Unsure about where the GBP is going at the moment.
Short trades unnerve me too and put me off most of the time as i usually close profitable positions too early and let losing trades go too long! But giving a try with patience between trades being the key at the moment.
Short trades unnerve me too and put me off most of the time as i usually close profitable positions too early and let losing trades go too long! But giving a try with patience between trades being the key at the moment.
nickerson334
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Next wave at 712?
nickerson334
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Try this. Target 35 points or next line of resistance with a point by point trail stop . So if you've got a good entry signal you buy in, set your profit limit at +35 (min 25 points say) then for every point it moves up trail your stop loss up a point starting at -35.
If your trade moves up 15 ticks your maximum loss is now -20. I've successfuly strategised like that using DT, H&S and Flags.
Obviously you'd have to research it yourself with your own entry signals but it would solve your problem as your maximum loss would be 35 ticks although that would be very rare. Account balance hopefuly looking somewhat like as follows.
+28
-14
-12
+35
-9
-22
+31
+22
-18
+25
+20
-14
+22
-28
-9
+35
+17
Maybe quit for the day after 3 successful trades, regardless of losses.
I use d4free. No problems so far.
If your trade moves up 15 ticks your maximum loss is now -20. I've successfuly strategised like that using DT, H&S and Flags.
Obviously you'd have to research it yourself with your own entry signals but it would solve your problem as your maximum loss would be 35 ticks although that would be very rare. Account balance hopefuly looking somewhat like as follows.
+28
-14
-12
+35
-9
-22
+31
+22
-18
+25
+20
-14
+22
-28
-9
+35
+17
Maybe quit for the day after 3 successful trades, regardless of losses.
I use d4free. No problems so far.
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