Some of my trades, forecasts

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GBP/USD trade

Cable is looking really strong for the next day or 2. I went long at 1.5817. It has its eye on the WR1at 1.5918, which is my TP.
 
Another thread

For those that are interested, go check out my other thread called "How to make 100%."
 
I thought I was seeing things when I read your post. Needless to say, this pair has not been grabbing my attention. Watch for a close today above .9970. That is the 76.4% mark of YP--YR1. That could be the cue we are on our way to 1.0119, the YR1. If it gets there, it is going to make a magnificent short. Check your bands, too. It's already past +2 on the weekly. I think there will be very little pullback by comparison to the gain from that point.


Metals trader said:
I see AUDCAD has reached parity, thoughts on a possible short entry a bit higher?
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4xpipcounter said:
I thought I was seeing things when I read your post. Needless to say, this pair has not been grabbing my attention. Watch for a close today above .9970. That is the 76.4% mark of YP--YR1. That could be the cue we are on our way to 1.0119, the YR1. If it gets there, it is going to make a magnificent short. Check your bands, too. It's already past +2 on the weekly. I think there will be very little pullback by comparison to the gain from that point.
Click to expand...

You're right i hadnt looked at the weekly, insanely o/b, im going to scale in from here up to 1.02, may take a bit of the "scenic route" as you say :)

For Forgot to ask, what are your thought son Euro, im thinking 1.37 - 1.3750 zone as potential set up
 
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Many of the aussie crosses are worth checking out on the weekly, including aussie
The euro is also in the same plight. On the euro, I would expect containment around 1.3809, which is my 38.2% level of my YS1--YP.
On the AUD/CAD, be sure and stay on the bus. It could be catching the jet headed south at 1.0119


Metals trader said:
You're right i hadnt looked at the weekly, insanely o/b, im going to scale in from here up to 1.02, may take a bit of the "scenic route" as you say :)

For Forgot to ask, what are your thought son Euro, im thinking 1.37 - 1.3750 zone as potential set up
Click to expand...
 
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Eur/usd

I've been saying since I got on this site the EUR/USD is headed to the monthly kijun. It needs to touch it. Right now it is 1.3752. Beyond that, there is such an insane cluster of events. I would say don't mess with the trip north past 1.3752. This jet has 1.2600 written all over it.
 
Re: Eur/usd

4xpipcounter said:
I've been saying since I got on this site the EUR/USD is headed to the monthly kijun. It needs to touch it. Right now it is 1.3752. Beyond that, there is such an insane cluster of events. I would say don't mess with the trip north past 1.3752. This jet has 1.2600 written all over it.
Click to expand...

That's about where I see it stalling as well. When the Euro bottomed out I stated numerous times that I thought it would go to at least 1.35. Also I said I thought the Dollar index will bottom out and head back up somewhere between the 7760 and 7560. That is the 61.8 and the 76.4% retracement of the first wave up. The Dollar index closed today at 7826 and yesterday at 7896, so it is getting close to my first target. I think this next wave of Dollar strength will be a wave 3 and carry the Euro to parity or below.
 
Re: Eur/usd

Dave, we barely said hello, and that was the first thing we were agreeing on.

JahDave said:
That's about where I see it stalling as well. When the Euro bottomed out I stated numerous times that I thought it would go to at least 1.35. Also I said I thought the Dollar index will bottom out and head back up somewhere between the 7760 and 7560. That is the 61.8 and the 76.4% retracement of the first wave up. The Dollar index closed today at 7826 and yesterday at 7896, so it is getting close to my first target. I think this next wave of Dollar strength will be a wave 3 and carry the Euro to parity or below.
Click to expand...
 
Re: Eur/usd

4xpipcounter said:
Dave, we barely said hello, and that was the first thing we were agreeing on.
Click to expand...

I think that was pretty much when we first met Paul..........LOL........Different methodologies and pretty much the same results......
 
I also said on this thread and on my thread that I always get in early.............I also said that I would try to work on that, but I still did it this time. I actually adjusted my margin down to 20 to 1 because I knew I would probably get in early.........But I just adjusted my margin back up today because I know that the odds are very high for a reversal in the next few weeks........BTW, Paul, How will these new rules affect your trading? Since by October 18, 2010 if you trade in the U.S. you will be limited to 50/1 margin trading.........
 
What!?!?!? I didn't know that. It will effect me alright. That means twice the amount of collateral will have to be put up for each trade. If that is the case, then I will probably be down to about 8% margining, which means I'll need to increase the capital in my account by 25% if I am going to continue making the same amount. I'm getting a hold of my broker right away.
BTW, look forward to hooking up tomorrow. I'd like to compare what you have to the my new toy.
BTW, the EUR/USD is not the only pair with upper chart implications. There are a ton that is shaping up for a shrp reversal-- USD/CHF, EUR/CHF, AUD/USD, NZD/USD, GBP/AUD, GBP/CAD. GBP/CHF, EUR/AUD. EUR/CAD, just to name a few.

JahDave said:
I also said on this thread and on my thread that I always get in early.............I also said that I would try to work on that, but I still did it this time. I actually adjusted my margin down to 20 to 1 because I knew I would probably get in early.........But I just adjusted my margin back up today because I know that the odds are very high for a reversal in the next few weeks........BTW, Paul, How will these new rules affect your trading? Since by October 18, 2010 if you trade in the U.S. you will be limited to 50/1 margin trading.........
Click to expand...
 
4xpipcounter said:
What!?!?!? I didn't know that. It will effect me alright. That means twice the amount of collateral will have to be put up for each trade. If that is the case, then I will probably be down to about 8% margining, which means I'll need to increase the capital in my account by 25% if I am going to continue making the same amount. I'm getting a hold of my broker right away.
BTW, look forward to hooking up tomorrow. I'd like to compare what you have to the my new toy.
BTW, the EUR/USD is not the only pair with upper chart implications. There are a ton that is shaping up for a shrp reversal-- USD/CHF, EUR/CHF, AUD/USD, NZD/USD, GBP/AUD, GBP/CAD. GBP/CHF, EUR/AUD. EUR/CAD, just to name a few.
Click to expand...

Basically anything that has been going up the last 6 months will be going down for 9 months and anything that has been going down for the last 6 months will be going up for at least 9 months.......



Jah Dave...Elliott Wave
 
4xpipcounter said:
What!?!?!? I didn't know that. It will effect me alright. That means twice the amount of collateral will have to be put up for each trade. If that is the case, then I will probably be down to about 8% margining, which means I'll need to increase the capital in my account by 25% if I am going to continue making the same amount. I'm getting a hold of my broker right away.
BTW, look forward to hooking up tomorrow. I'd like to compare what you have to the my new toy.
BTW, the EUR/USD is not the only pair with upper chart implications. There are a ton that is shaping up for a shrp reversal-- USD/CHF, EUR/CHF, AUD/USD, NZD/USD, GBP/AUD, GBP/CAD. GBP/CHF, EUR/AUD. EUR/CAD, just to name a few.
Click to expand...


It seems to me that by entering 20% of the account in each trade, then you will have a similar mm: ie 10% account increase when banking 100 pips on USD crosses; and 1,000 pips of maximum dd (or 980 before a marginal call).

The 20% MM rule, might increase the number of people saying... ohhh Paul now you are risking 20% of your account... that is twice crazy, and all those comments they make to keep your fingers busy typing when you patiently answer every post.

I hope brokers will cut their spread in half for 50:1 marginal trades, you can tell your broker that Oanda has a fee structure for 50:1 marginal trading already in place and they would loose clients if your broker doesn't get a comparable one. I don't want to change my broker, but I'm seriously considering trading ccy futures, they won't be affected, the regulation tries to decrease the forex at retail level in the USA. It sucks, doesn't it?
 
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Cable hit my TP at 1.5918, which is my WR1 for +100 pips exactly. The peak, so far today, is 1.5923.
I took out my NZD/CHF for +32. It's just not behaving the way it should, so I'll take the small gain.
 
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My thread has gone to the dogs--lol.
I got to keep Tucker away from you guys. On 2nd thoguht, your dogs would make great umbrellas for him. It pours and Tucker just stands under one of them.
 
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