+250 on my EUR/AUD short.
We will see what happens at support but the trend is definitely down.
Nice to see such large movements. The Euro heading for 1.35 and the Pound for 1.53.
I’ve got season tickets on both. It’s a nice time of year to be heading south don’t ya think.
Happy pip picking,
Johnny
Have you ever noticed the more volatile the market the less so the wife? I asked mine if she wanted to learn a little more about trading so she could actually trade and she says she just likes counting the money thank you.
Mine just likes spending it :eek:
anyone else long on usd/cad? im long at 1.0501
Well…maybe. I’m plus 400ish at the moment and the overall trend is still down. It looks like it’s going to close below daily support as well so still looking bearish. I’m going to hang on for the moment. I could counter trend trade intraday but I’m looking at other stuff for intraday at the moment on the Euro so don’t really need to hedge any on it.
Actually, I still trade on the shorter timeframes but I’ve moved away from bollinger bands on that as it’s too hectic for me with all the different stuff I’m looking at (indices, etc.).
I’m trading mainly EU on Daily, 1hr, and 15m and then I scan through the other FX pairs on the daily chart once a day.
I’m really only looking for:
- flat bollingers
- a nice candle pattern with a wick outside the 20:2, or
- a strong trend defined by the PA being between the 20:2 and the 20:1 (on these I look to get a retrace and then get in on the trend) but the flat bollinger trade is still my favourite
I find that by hitting my day trading targets, I’m able to let swing trades go but that’s just a personal thing
if you use MT4 ibfx has a chart pattern program, works really well, its free too might wanna look into it:p
Looks like the EUR trades are going to continue their plummet with the EU giving only moral support to Greece. The slight rise of late will be short lived once the markets full realization. It seems the stock markets were rising on wishful thinking and I’m afraid they won’t get to go to the prom with the prettiest gal after all.
The fact is there’s not even going to be a dance. It looks like everybodies afraid of contacting the kissing disease and nobodies going to get kissed anytime soon. Having lived in Spain and Portugal my Daddy warned me about those Mediterraneans lest I get caught in a compromising position. Something the EU is vary wary about. So sorry Greece, Portugal and Spain its no kissy kissy. LOL.
Happy trades,
Johnny
Johnnny,
How are you? I am sure you must have piled thousands of pips during these Greece Crisis…:D:D.
I have not posted on the forum for a while because of the avalanche of pips.:D.
What do you think will be the likelly bottom of Euro/Usd as EU now wants to help the ailing Greece?
Greetings.
Headmaster.
SM,
Good initiative.I tried this as well bu it was not as elegant as yours.And i only compare 4hrs aross board for 20 pairs.
Now,how do you use flat BB to enter trade here?
Greetings.
Headmaster.
Thank God.Another +250 pips right? I guess we are in the showers of pips season these days.Keep saving because scarcity is what often follows plenty.:D:D:D
sheee.250pips in one trade.Some people want to break Guinnness book of Record in the number of pip accumulation this month.:D:D
Good job.
No wife for now.Just try to see what nature has for me first.hehehe
D-PIP,
Thanx for much.I think the materials you provided help in great way.Made some cool pips with them.I am trying to see if there is any inherent flaw in LRC before adding it to my tools.
Greetings.
Headmaster
To me, flat bollingers show relatively weak expanding strength of the PA and therefore the order flow does not have enough momentum to start a trend or break to the upside/downside. So, if I see that combined with a long wicked candle on the Daily, I’m definitely in for the trade.
My EUR/AUD trade was a trendline bounce, a bollinger bounce, and a long wicked candle.
that was a very nice trade san 
Hello Headmaster,
I’m afraid the bottom is a moving target that isn’t going to stabalize anytime soon. With the Vix going up and oil going down this will add to the dollars rise. Add the flat economy just reported out of Germany and the continued downward spiriling of the PIGS and you have a recipe for continued strengthening of the dollar.
A strong dollar is not what the US wants either. A stronger Europe buys more of our products and a stronger world makes less wars. The recessions and depressions of past history were the catalyst’s of past world wars.
China is going to come out of this recession the best of any country and will own large chunks of the best companies in the west. They have found a way to defeat the west and cut the heads off its past enemies. By 2020 they will own the world as America goes the way of past super powers such as Britain. The big difference being the Brits were smart enough to retain the wealth and still own a lot of the US companies. Most Americans and British would be shocked to learn this fact but investment money had to come from somewhere when the US was young and broke. Now we are old and broke with our resources depleted by the robber barons Carnegies, Rockefellers and others. They were as ruthless in their greed as any conqueror in history and make China look like a bunch of boy scouts.
It was British investors that financed America’s past growth such as the gold and silver mines of the west and oil and timber at the turn of the century. America will be forced to cut it’s military budgets in the future as China’s growth over takes the rest of the world in combined GDP. The will of China will become the wishes of the world and the west will be powerless to stop them.
It’s ironic that the west is being defeated by China beating them at their own game. That game being the game of the greedy western capitalist. They are gobbling up world resources right now at an alarming rate. Iron ore mines in Australia and Brazil, steel manufacturing plants, oil tankers, ship building, oil companies and oil contracts. How better to control rising commodity prices then to own the companies that produce them.
What China is doing now is no different then what Henry Ford did in America when he built his own foundries and steel mills to build his Ford cars. He owned everything from the ground up. He crushed the competition for years and amased a huge fortune in the process. His manufacturing plants built the armaments of war and his wealth financed WWII when our government was dead broke from the Great Depression.
China is in the unique position to copy everything good from the west and correct everything that is a detrement to their success. The things like over loaded prisons, government pensions and high costs to run the government, Wall Street theft and greed, worker strikes, and crime is dealt with swiftly although harshly by western standards. I don’t think you have to think too hard how the government of China would have dealt with the CEO’s of AIG, Wall Street investment bankers and others who orchestrated this fiasco as well as the thieves like Bernie Madoff. They would all just disappear never to be heard of ever again and no burden to society sitting in a prison.
The west is like the aged boxer who made millions in his youth but through bad investments and a high life style is reduced to being a door man at someone else’s hotel.
This recession is not of the short term variety and will last more than a decade. Nothing will ever be the same except the stupidity of the government and the greed on Wall Street. It’s all business as usual on those two fronts and they are unlikely to change bed partners in the future.
Any bottoming of the Euro will be short lived as Greece is only part of a long list of problems that are not going away. Some experts are already looking at the 1.25 to 1.22 level.
There is already more problems then there’s money to fix it. Countries connected to the Euro are now wishing they were not, as they cannot devalue their currency as they did in past recessions.
The truth is the EU is fed up with Greece and their indiscretions over the last 10 years. The EU doesn’t have the money even if it wanted to help Greece.
The world is in a sad state of affairs to say the least. The good news for the currency trader is that volatility will be remain high. It’s going to be a wild roller coaster ride.
Trade well and prosper,
Johnny
SanMiguel,
You can call it whatever you want and I’ll call it the result of the weak Euro and the stronger AUD and we both will have a fist full of cash. I’ll call it price consolidation with a classic Pennent flag forming and the fundamentals will show me the direction is down.
I don’t know about the flat chested Bollingers or how bouncey they are or if PA’s getting weak and has no strength for any up or down moves. If the sight of a wicked long candle gets you excited daily and makes you jump into the trade then I’m happy for your success. Different strokes for different folks I always say.
I know all of this has me darn excited and I hope your PA survives all of it.
Damn ain’t this is fun. I think I’ll take MA out and let off some steam tonight.
I think PA is getting his strength back nuzzling up to Ms. Bols. See attached.LOL
Have a great week-end and don’t do anything too crazy,
Johnny
Of course I understand the euro is fundamentally weak at present but looking at a chart like that do I need to?!
Trend distinctly down with a solid down trendline - I’m just giving reasons for taking the trade based on TA, that’s all.
SanMiguel,
Making pips the way you do is reason to believe whatever your method it’s great. I am never surprised at the multitude of methods traders use to try to make money. Most are worthless but yours has good sound logic which I use as well to verify what the fundamentals are telling me. Actually they were screaming all week.
Please don’t ever be intimidated by me. People like yourself taught me to trade and I’m forever grateful. I’m still learning and will never stop. I just like to have fun writing as once the trades are made and the news is read I go nuts with boredom.
Thank G_d it’s Friday,
Johnny