Forex Price Action - Page 51
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  1. #501
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    Default Offtopic!

    Whatever happened to Vahagn?

  2. #502
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    Quote Originally Posted by dudest View Post
    Makes *alot* of sense, thanks Johnathon

    PS: did what you have described with the earlier posted AUD/NZD weekly pin, now it's broken lower.
    Well done. That's the way. Now just imagined if you waited for this week to close first!

    As I said before the best trades will normally just go of in our direction the next period so we want to be aboard, not watching.

    Safe trading,

    Johnathon

  3. #503
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    Here is an example of what I am looking for this week.

    This is the 4hr chart on the GBPCAD. I always look to trade with the recent momentum and at logical pullbacks with in that momentum.

    A nice and large reversal signal where I have marked the box on the chart would be nice.....

    See chart:

    Name:  gbpcad.jpg
Views: 3468
Size:  20.5 KB

    Safe trading,

    Johnathon

  4. #504
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    Quote Originally Posted by Forex School Online View Post
    Here is an example of what I am looking for this week.

    This is the 4hr chart on the GBPCAD. I always look to trade with the recent momentum and at logical pullbacks with in that momentum.

    A nice and large reversal signal where I have marked the box on the chart would be nice.....

    See chart:

    Name:  gbpcad.jpg
Views: 3468
Size:  20.5 KB

    Safe trading,

    Johnathon
    Darn, my broker doesn't carry that pair. O well EURCAD is pretty closely correlated.

    Anybody get short on EURUSD earlier? I didn't get in because my exposure would have been to much, but it would be a free trade (at break even) if I had.
    Name:  Capture2.jpg
Views: 3427
Size:  17.8 KB

    P.S. I would have entered at the end of the 800 gmt candle

  5. #505
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    Quote Originally Posted by teb5108 View Post
    Darn, my broker doesn't carry that pair. O well EURCAD is pretty closely correlated.

    Anybody get short on EURUSD earlier? I didn't get in because my exposure would have been to much, but it would be a free trade (at break even) if I had.
    Name:  Capture2.jpg
Views: 3427
Size:  17.8 KB

    P.S. I would have entered at the end of the 800 gmt candle
    I am already short of the weekly trade I have covered in here at length the previous week. To read more and why just go back a few pages.

    Pretty simple setup.

    See chart:

    Name:  2baer.jpg
Views: 3404
Size:  20.8 KB

    Johnathon

  6. #506
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    Quote Originally Posted by teb5108 View Post
    Darn, my broker doesn't carry that pair. O well EURCAD is pretty closely correlated.

    Anybody get short on EURUSD earlier? I didn't get in because my exposure would have been to much, but it would be a free trade (at break even) if I had.
    Name:  Capture2.jpg
Views: 3427
Size:  17.8 KB

    P.S. I would have entered at the end of the 800 gmt candle
    What do you mean your exposure would have been too much?

  7. #507
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    Quote Originally Posted by Forex School Online

    What do you mean your exposure would have been too much?
    The risk on all open trades added together. So if i have 4 open trades and each trade is risking 2% that is 8% exposure. There's probably another term for it that's just how I define it.

  8. #508
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    Quote Originally Posted by teb5108 View Post
    The risk on all open trades added together. So if i have 4 open trades and each trade is risking 2% that is 8% exposure. There's probably another term for it that's just how I define it.
    No that's fair enough. I thought you may have meant that, and I was just checking.

    Wow you have 3 or 4 open trades?

    You care to take us through them? Would be much appreciated.

    Johnathon

  9. #509
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    Sep 2011
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    Quote Originally Posted by Forex School Online

    No that's fair enough. I thought you may have meant that, and I was just checking.

    Wow you have 3 or 4 open trades?

    You care to take us through them? Would be much appreciated.

    Johnathon
    Haha no I only have 1 open right now. That was just an example. The most I ever had open at one time was 3 I think and honestly that's hard enough for me to handle. I'm not very risk tolerant and usually only risk about .5% a trade, but was risking about 3% on one and that's why I didn't take the EURUSD trade.

    The one that's open right now is a long on CADJPY from 82.90 with take profit at 83.90. I already moved to BE at 83.40 and took half profit so I'm a happy camper for the day :P

    Here is a pic of when I took the trade (4H). My reasons were pretty simple, perfect bounce off a support with a bullish engulphing candle. Also correlation with other JPY pairs was very good which is something I found almost necessary with JPY (except USDJPY). I entered at the break of the marked 4H candle. It's so much higher because I pay a pretty bad spread for this pair.

    Here it is now
    Attached Images Attached Images    
    Last edited by teb5108; 03-13-2012 at 01:11 PM.

  10. #510
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    => Trades taken:

    --> GBPNZD H4: 2-bar reversal at support
    Name:  20120313_gbpnzd_h4_2br.jpg
Views: 3539
Size:  59.1 KB


    => Trades watching:

    --> GBPCHF H4: headed towards major resistance
    Name:  20120313_gbpchf_h4_watching.jpg
Views: 3387
Size:  60.7 KB

    --> AUDSGD D1: currently at a major support
    Name:  20120313_audsgd_d1_watching.jpg
Views: 3335
Size:  56.4 KB

    --> GBPUSD H4: BUEB may be forming at support (candle not yet closed!)
    Name:  20120313_gbpusd_h4_watching.jpg
Views: 3393
Size:  58.0 KB

    --> GBPJPY D1: hitting major resistance (which happens to on a nice Big Round Number (?) of 130.0 )
    Name:  20120313_gbpjpy_d1_watching.jpg
Views: 3312
Size:  56.4 KB
    Last edited by dudest; 03-13-2012 at 11:23 AM.

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