March 04 Forex

[Newtron Bomb]

AT LAST!!!

 

[rezo_s]

I agree with you NB, this may be the start of something

Good Luck!

 

[Newtron Bomb]

Hi rezo

about time too with the consol pattern thats been forming, very scrappy for day trading and for getting a decent swing on.

GBP was clearer to trade but still not moving cleanly and making you work for you money.

Lets not shoot the bolt about it though just yet, let wait for it to make some money for us

Happy trading
Newtron Bomb

 

[rezo_s]

Thats right, lets wait. I will be watching at close of this week to see what to do.
Although I had a very clear and nice signal yesterday (with little but still warnings which I would still trade)on both EURJPY and GBPJPY (to sell), I didnt enter due to raw of losses lately, and I prefer waiting for picture to get clearer and start trading with tight stop losses or at least acceptible stops and trade Majors. On those JPY crosses, despite the consolidation in last couple of days, the range was too big. I am looking for small stops to trade right now...

cheers

 

[Newtron Bomb]

yeh it has been a tough few trading days and sometime even the tight stops on smaller time frames have touched stops and turned around quite annoying.

Safe entry is always best imo as long as we are here to trade tomorrow as its teh big picture that counts more imo.

Euro pulling back slightly miay give an opportunity to add to the position.

Happy Trading
NB

 

[rezo_s]

What you think NB, is there enough potential/good signs for euro to reach 1.1950-1.2000 area or is it still the uncertian market movements. For me its not clear :?:

 

[Newtron Bomb]

Am looking at 1.18 on my wish list whether it gets ther or not is another matter

lol

NB

edit
come into the chat room rezo

 

[rezo_s]

I didnt manage to see any posts there. I did manage to register, see the list of people there, but either there is no dicussion, or I dont manage to see it. Anyways, some other time. Have to take care of some business now.

Best wishes,

 

[Newtron Bomb]

No problem.

I'll let sharkey know there was a problme

Have a good day

NB

 

[Newtron Bomb]

re: chat room

euro $

How could a long have been avoided?

There are a couple of things to note on the chart as a few people tried longs without success.

Firstly there are s/r points from the low and close area of yesterdays action the price was ping ponging around these levels

secondly the trend is down and has not been breached from yesterdays action. There is also a minor trend taken from the 18:00 move of yesterdays action to the hod today. I only noticed this as it was stalling after the trend breach and looking for a reason. An early trade could usually be had at that point with a target up to the longer term trend line for a 50cent move there abouts

With all this in mind the hod BO would be the choice of entries before a long.

For a short i am looking for a continuation of the move and the pattern BO from the consolidation pattern on the daily charts.


Hope this helps

Newtron Bomb

 

[Newtron Bomb]

UKDan87

This is what we were talking about inthe chat room

Hope this helps

NB

 

[Newtron Bomb]

Please excuse the chart as i rushed it

NB

 

[Newtron Bomb]

1-2-3 update

1-2-3 pattern completed and target met 60 pips from the safe entry
personally i got in quite a bit earlier.

Happy Trading
Newtron Bomb

 

[pmaa]

Nice trade NB ,thanks for posting it ,i did'nt trade it myself but good to know what sort of patterns to look for ,Cheers

 

[Newtron Bomb]

Is there much more to go?

Can we see a turn?
or a break out?

Keep an eye open for either, still favouring a move down for now

Happy Trading

NB