Well, dear Emerald, what do you know, that Eur/Jpy had blood left in it…A positive end to the trading week…
Time to have dinner and enjoy time with friends and family…
Happy Hallowe’en!
Happy Trading x
Some will question my wisdom in responding but I think you should really just ignore me and move on. You have a whole forum out there to poison.
I can’t believe you are obssessed about seeing 5 standard lots. Anyway, I was wondering what you will say next. I am not really in the business of proof but cTrader does a chart shot which is clearer and easier to see by all. I normally wouldn’t publish deal information but it is the only way to show the actual order (besides an order is an order demo or live). In the interest of privacy my co-investors don’t want the account information public, this means if I kept screen shotting my PC, it is not only cumbersome to crop and edit but it will reveal personal information that I don’t intend to make public (see e.g. below why?). I presume good sir I am allowed privacy. If I intend one day to fleece the good public I will be sure to produce all kinds of proof for now I just want to trade and share with folks.
Now please can we just part company as people who just don’t have the same view of the internet and you will never hear from me. Please don’t spam this thread. It has been going for sometime and is a useful resource for already active traders who want to share. I will not respond to you on anymore requests, so don’t hope by spamming the thread it will get better.
Hi Pip, I am being stalked as you can see… I am not that pretty…
Happy Halloween! Yes the Euro was always going to resist other pairs, the market maker just seized the opportunity. Some profit taking no doubt has helped the Euro gain, we will see so many players coming off the table for round 2 of normalization in the currency markets.
We will see what next week brings… I couldn’t finde a trade for almost a week and half so a welcome relief. Have a good weekend.
Still looking into next week
emeraldorc;
I am not really in the business of proof but cTrader does a chart shot which is clearer and easier to see by all.
I normally wouldn’t publish deal information but it is the only way to show the actual order (besides an order is an order demo or live).
In the interest of privacy my co-investors don’t want the account information public, this means if I kept screen shotting my PC, it is not only cumbersome to crop and edit but it will reveal personal information that I don’t intend to make public (see e.g. below why?).
Emeraldoc …
- I guess I have my legitimate right to react and criticize you, when you openly and clearly trying to bluff and lie to you a perfectly successful trade entry , that even short time traders would have trouble taking.
The excuses you serve is just pathetic, that you as a grown man, passed 30 years.
- 2 kids must bluff on a forum, to desperately show something you are not, a trader
**
you mentioned once this this forum is armed with idiots .
you forget to mention you can feed a army with your stupidity
Okay guys, just an update to my previous post ignoring the interruptions. The Euro gapped lower in the early Asia session and took us out for breakeven and accelerated higher it looked like a perfect Bat pattern and it still is. The problem here was the aggressive trade management on my part, the price you pay to break even a trade and protect. The move may still not develop but I am convinced that it will go higher judging from the rising volume and spread and the reaction at that 2.618.
FxPro GBPUSD h4 Pf3wn | cTrader
If you all are considering a long entry watch that 1,5870 area for stops below, that is the key support for me and has held for weeks as you all remember it was my target all those weeks ago during Scot referendum and rate startle.
C’est la vie my friends. On to the next opportunity. Happy trading all.
Appears like we have AB=CD pattern is developing on EURAUD. We have perfect 50% retrace of that first leg up, so I am watching this closely, it still has a few days but it would normally go into the 1.618 (blue fib) and we have a lot of structure resistance at 1.5006. If we do get filled at 1.4980 then we will aim for red fibonacci targets of the leg at 0.382 and 0.618. So 1.4701 and 1.4510 but we want to get closed out just before those levels so orders slightly short of target.
Alternate scenrio price could come into the 0.886 (blue fib) also in line with the Bollinger and decline which would suggest a potential pattern. The reliable patterns I find are sell offs at that 0.886 area. It could be a bumpy ride so we have to have a real long term vision especially on teh higher time frames.
FxPro EURAUD D1 0y7wn | cTrader
I my feeling on the trade is that the AB=CD patterns are risky trades, you really have to overlay them with leading indicators. They could extend and get above those fibonacci reciprocals and hit anyone of them, so the risk has to be really measured and also AB=CD could potentially reverse short into 0.382 and then develop into a trend or an elliot principle 5th wave, so a stop out is usually great. So I will cover for breakeven at 0.382.
Also got an order pending on GBP/JPY to sell off at 183.68 at the 1.27 fib. We shall see…
Happy trading guys.
Call me absolutly mad but I took a look at Gold and it has broken daily support. So I took a look at the monthly and my broker had no info past 2010. So I went into trading view that goes way back and what I see is Gold going to 1059 at best 1085 if it does go back there and come off we will see the biggest rise in Gold to 1700. So it is all is riding on what the next few days bring. Something big is coming…
hmmm.
never really looked over your thread much emerald but i now notice you seem to trade in a way not that dissimilar from my own.
infact. your GBP/JPY order seems like it may be similar to where i have mine.
you got me curious now.
are you sure you can’t give me a lil peak of that my fxbook emerald :21:
Yes, defiance there is a guy in here Tmoney or something that is a huge harmonic pattern trader and I know you like that thread. I have spent sometime studying Gartley and I have also studied Scott Carney more recently. I already use fibonacci as a trade management tool. Mathametically it is a good trade management tool and I was taught this from a great trader he definitely changed my trading direction.
Harmonics are still new and not well understood but equip you trade in congestion regardless of time frame. If more popular harmonics get the market will eventually change direction so enjoy it while it lasts. They are too many folks still saying follow the trend and sit out congestion but stability is on the horizon so congestion will soon be the norm in the markets.
Glad you like my style. On the my Fx book thing. I haven’t done that. It can also be manipulated and is still the marketers territory. My main concern is data harvesting. You only have to look Instagram scandal to know what could happen… In future maybe pending how it goes with the FX industry itself but for now keeping that stuff very private. :).
Wish us luck on that Sterling Yeng short if it comes off it will be good with this pairs ability to move.
No fills yet but waiting expectantly as us traders do. Sterling managed to stay up and continues do so, a shame I fell off the cliff. Of course example of the shake off of weak longs, anyway a breakeven trade is a win.
EUR/JPY I recall pipme talking of blood in this one. Well I have my sell limit on this one at 145.35. It looks like a 5-0 pattern developing and there is significant structure at the 1.618 so a good sell opportunity. Targets just below the 0.50 fibonacci back down at 140.41 good confluence with 0.886 as well look to breakeven at 143.00, we know this pattern can pull back into structure and I am seeing these extended patterns on Yeng pairs a lot. I have never traded this pattern but it sure looks like it could work. It is already way overbought, volume is fallling on the upmove but as my good friend pip says there is blood. I always say when the Japanese go they all go in the same direction. A good place to look for butterflies, bats and crabs and these vicious AB=CD’s.
FxPro EURJPY D1 q67wn | cTrader
In case you guys are wondering about trading view, well one day the feed just froze for like 20 mins, their provider Exante let them down, not to mention a few chart bugs. Well I was in my 30 day trial so may look at esignal in future but the tag is nuts. So Trading view hit the bin for me…
Gday all. Emeraldoc I have just discovered a software package called ProTrader 3 Protrader - limitless trading by Protrader — professional trading platform | PFSOFT
I like it very very much. Desktop, web and phone apps available. They have access to very good market data. Only been using it for a week but quote price is raw ECN and tick volume is 2 to 3 times higher than my brokers feed. Only drawback you can’t trade live. I think you will like.
Best thing its completely free. Pretty easy to see what the developers are doing. Give the end user a professional quality trading suite for free and it forces the retail brokers (their market) to buy the product.
Hope you all enjoy
Bob
Looks very good, not so simple to use but like anything you can learn. Thanks for the share downloaded already. Very smooth…
Well Jason I did short this yesterday precisely because of that structure break but the Aussi is known go slightly under its structure but it was the AUDJPY reaction that convinced me it could be a break out. I am yet to see if I will be rewarded, so far I am 30 ticks down but on a daily play it means nothing and ironically it is on that crucial 1.27 fib. I honestly was looking for another red day we will see later into London and New York.
What do you know my Yen order triggered right of that structure on the 1.27 up +60 ticks looking to breakeven at +100. We shall see what happens. So this baby is hedging that Aussie short keeping overall in the green. Happy trading guys.
Hello traders!
Busy bee here…
Just a quick hello to say I made LOADS of pips in the last coupe of days, shorting the NZD… it keeps falling
and falling, and falling…
I shorted the AUD the other day but got out with losses (after the rate hold from RBA); last night I avoided
the mistake and waited, and it seems that the positive job data did not really help the Aussie, which has
made little progress, from what I can remember.
So I am short the NZD, still, although intra-day (today) it has bounced off a descending trendline (visible
on the 4h NZD/USD chart below)
There is always more than one side to a story, of course…
I am shorting both AUD/NZD and AUD/JPY today… You might say: why short AUD/NZD when the NZD is
falling? Well, like the synthetic pair EUR/GBP, which goes down more often when EUR/USD goes down
rather than when GBP/USD goes up, the AUD/NZD cross is more influenced by the movement of AUD/USD
than simply that of NZD/USD, at least sometimes… I could not tell you how much this applies, with
statistics in hand, but I am going with that theory today.
Stops in place, etc., so if I get it wrong, then I can try something else next time…
hmmm
i notice your tp is 175
mine is about 179
how certain are you it will reach 175 and what is your resoning behind placing a tp there
and pipmehappy, im staying away from AUD/JPY, over the last week it’s caused me alot of losses. and atm seems to be dily dallying around whilst most of the rest of the pairs move downwards. if i can win the gbp/jpy trade i will of broke even and made up for the losses.
Hello Defiance… yes, good to stay away! I had the same two or three weeks ago, with the NZD/JPY, which
annoyed me no end (and made me lose money).
Going back to what I was saying about currency correlation, the GBP/NZD is not actually influenced by the GBP/USD pair but more by the NDZ/USD…
As you can see in the chart extract below, the GBP/USD (wriggly line in light blue) has moved in the opposite direction of the GBP/NZD pair (above it)…
This means that you can buy GBP/NZD and yet sell GBP/USD at the same time, with no conflict.
Cheers.
Hi defiance. My first TP is at at 178.75 just short of the 0.382 fib, well based on the entry, I like to believe (may not be the case) that traders use fibonacci to exit trades, I was taught this in my early days by Goldman trader it has worked for me mathamatically in relation to risk reward, so it saves me having to choose arbitary risk reward ratio and also I stay out of trades that have poor RR at that 0.382. My second TP is 174.73 just short of the 0.618, some traders will even look for 0.886 but I don’t have the cahunas to hold a trade till that point.
So that is my exit plan and it determines how I exit the trade. I usually work it all out after I get filled because sometimes depending on how far the price extended after I got filled the target needs adjusting. Notice I pulled my stop back and decided not to breakeven the trade at 100 ticks insteaded I will now aim for 200 ticks as I am more confident in the trade. Anyway I am posting below my final exit strategy into next week.
Have a great weekend defiance and if I am not mistaken you should have already cleaned out at 178 ticks as the pair pushed 180 ticks today.
Final wrap for this week…
FxPro GBPJPY D1 xj7wn | cTrader
This pair sailed in my favour so holding this to the 0.382 and beyond but I will be protecting all the way setting breakeven for stops at 200 ticks, not far off now. if the trade rolls back then I will look to cover at the initial 100 ticks but the momentum is behind this.
FxPro AUDUSD D1 0j7wn | cTrader
This trade is typical of a trend following trade, so much indecision in the price action. So I expect if the down pressure does not hold we get stop hunt just above that support before firing lower. So far I will hold because if that doesn’t happen the Aussie has only pushed 30 ticks all day and is still underneath pending tomorrow, will determine whether I keep this impulse or gut trade but I am please to see what looks like a red close.
Have a great weekend guys.