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  • #21
  • Jun 12, 2009 8:59am Jun 12, 2009 8:59am
Following up my post above, I think I'm just going to sit this one out unless it clearly breaks that lower TL for a sell. The range just seems so narrow it's not worth the risk.
  • #22
  • Jun 12, 2009 9:28am Jun 12, 2009 9:28am
Yes. Better not to take any position.
  • #23
  • Jun 12, 2009 9:30am Jun 12, 2009 9:30am
Quoting RickyRudy
Epilogue, prior to your trades going into profit do you trail your stop like Jacko does, pip by pip? If not, please explain whether and/or how you trail prior to going into profit. I already understand your trail after entering profit.

Thanks.
I do not trail prior to profit. I trail only after going into profit.
  • #24
  • Jun 14, 2009 9:58pm Jun 14, 2009 9:58pm
Finally, another week. Looking forward to lot of pips this week. I have the following insights for this week on EUR/USD. I am posting two charts, daily and the weekly.

Attached Image (click to enlarge)
Click to Enlarge Name: daily.JPG Size: 53 KB

Attached Image (click to enlarge)
Click to Enlarge Name: weekly.JPG Size: 51 KB


The best buy zone is the 61.8 fib marked by the arrow. But this is still quite a way down. On the daily, the upper blue line is the consolidation zone and the lower blue line is the strong support zone (1.3750 around). Looking at the chart, i have a very bad feeling that it is bearish. The lower trendline has been hit more than 5 to 6 times. Now, i don't think that will hold.

But I am giving a shot here. I will buy in between 1.3925 and 1.3950 (a single lot though) and see if long can hold somehow. If it doesn't, i will be shorting at 1.3875 with good amount of lots targeting 1.3775.

Lets see what happens
  • #25
  • Jun 14, 2009 10:10pm Jun 14, 2009 10:10pm
I am posting the gold daily chart.

Attached Image (click to enlarge)
Click to Enlarge Name: golddaily.JPG Size: 56 KB


Gold is holding the 50 fib at the moment. Also, the lower trendline is not completely broken yet. And the bigger rectangles I have used shows that it is a key strong support level. All set for a good buy. What do you guys think?

I am buying gold at 935 to 940, but on later part of the day, after watching some activity.
  • #26
  • Jun 15, 2009 12:17am Jun 15, 2009 12:17am
OK. I am entering the trade.

EUR/USD
long at 1.3945
SL and RP at 1.3900

GOLD
long on 936.50
SL and RP at 932.50
  • #27
  • Jun 15, 2009 12:42am Jun 15, 2009 12:42am
CRUDE OIL
Long at 71.75
SL and RP at 71.25
  • #28
  • Jun 15, 2009 2:28am Jun 15, 2009 2:28am
Stop has been hit for E/U. So currently RP running. I am not going to trail it this time. I will try to be little aggressive this time. I want to cover up my loss as quickly as possible.

Stop hit for gold as well. So RP for gold on 932.50. Crude oil is hanging with small loss.
  • #29
  • Jun 15, 2009 3:29am Jun 15, 2009 3:29am
Hey epilogue. I see you still have a LONG bias. I'm expecting a temporary retracement of the up move.

See you here later.
  • #30
  • Jun 15, 2009 4:31am Jun 15, 2009 4:31am
Finally, I close 1 reverse position of E/U at 1.3860 and I have let 1 lot to run with profit locked for 20 pips. Those lost 50 pips have been regained. If my stop is hit at 1.3880 now, i will have a small gain of 10 pips profit overall.

Gold and oil positions are yet to recover. Still a little loss there. May be i should have doubled my position for RP on gold as well.
  • #31
  • Jun 15, 2009 9:33am Jun 15, 2009 9:33am
epilogue buddy, I sold at 1.3834.
  • #32
  • Jun 15, 2009 8:44pm Jun 15, 2009 8:44pm
Well, I was on a good sleep and now things are interesting with many of my pending orders triggered. I have to admit I am a lucky man. All losses covered up straightaway.

I covered up that 4$ loss on gold and made 1$ more profit on the fall. Then, my pending order on 927.00 was triggered which is showing 4$ profit. Wow!

For E/U, I was just happy to cover up the loss and didn't take any position yesterday later on. Just regained those lost pips with small 10 pip profit. I am still looking to buy this pair around 1.3750.

I don't believe that crude oil is running with 105 pips profit on reverse entry. I am locking in 60 pips profit and let it run.
  • #33
  • Jun 15, 2009 8:47pm Jun 15, 2009 8:47pm
Quoting RickyRudy
epilogue buddy, I sold at 1.3834.
Hi RickyRudy,
Excellent start for the week. I was asleep while you were in action. I just look at the chart and feel very happy for you.

Are you still on bearish side or looking to go long? 1.3750 long, what do you think?
  • #34
  • Jun 15, 2009 8:57pm Jun 15, 2009 8:57pm
I closed my short earlier today at 1.3791. Now I just saw that my LONG pending order at 1.3805 just triggered. This LONG trade might just be a pull back due to an oversold EUR and we might see another selloff of EURUSD on the way to 1.3600. We might get as high as 1.3930ish maybe. I'f I'm lucky to hit +50 pips without getting stopped out I'm going to move my stop to B/E at that point, then play it by the vest. Of course nothing is guaranteed.
  • #35
  • Jun 15, 2009 9:07pm Jun 15, 2009 9:07pm
Quoting RickyRudy
Now I just saw that my LONG pending order at 1.3805 just triggered.
Where is your stop loss?
  • #36
  • Jun 15, 2009 10:17pm Jun 15, 2009 10:17pm
Quoting epilogue
Where is your stop loss?
1.3755. Good luck. Gotta try catch some ZZZZs. I'll check back in when I can.
  • #37
  • Jun 16, 2009 12:52am Jun 16, 2009 12:52am
From yesterday morning, I was waiting for 1.3775 buy. And now, price went upto 1.3750 and headed north, and I am not in position.
  • #38
  • Jun 16, 2009 2:23am Jun 16, 2009 2:23am
Quoting epilogue
From yesterday morning, I was waiting for 1.3775 buy. And now, price went upto 1.3750 and headed north, and I am not in position.
Oh man, I thought you bought at 1.3750. Didn't realize you missed it. Don't beat yourself up too much. It has happened to all of us, most recently with me yesterday when I saw the perfect setup to go short and missed it. You'll have a shot at some more pips before long, just try not to dwell too much on it.

I have a favor of you. I went SHORT on USDJPY at 97.50 and I'm 100-pip in profit. I've locked in 50-pips. Would you please take a look at a chart for that pair and let me know how you would set your stops and where you would scale in more positions? I'm unsure I have a feel for that using the WD Gann idea you gave me.

Thanks.
  • #39
  • Jun 16, 2009 2:41am Jun 16, 2009 2:41am
Quoting RickyRudy
I have a favor of you. I went SHORT on USDJPY at 97.50 and I'm 100-pip in profit. I've locked in 50-pips. Would you please take a look at a chart for that pair and let me know how you would set your stops and where you would scale in more positions? I'm unsure I have a feel for that using the WD Gann idea you gave me.
Thanks.
Looks like you caught a good move.
Looking at the daily, your stop loss at the moment at 97.00 is nice. It coincides with the highs of 05.28 and 04.27, which has already been pierced. Good safe level to put the stop.
There is not a very good formation that can be used to add lots. But, in my opinion, better point to add lot would be at 95.61, the low of 04.28. If I were you, I would add lots after it is broken. The perfect (theoritical) point is 93.83, if that comes. Lets not be too optimistic right now. Best of luck!
  • #40
  • Jun 16, 2009 2:44am Jun 16, 2009 2:44am
Crude oil stopped out for +60 pips. Gold running with +8$. Moved stop to lock in 4$.
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