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RicG
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Postby RicG » Fri Oct 24, 2014 4:57 pm

LOL, Yep - the ol' CCI/Trendline Break/34 EMA strategy still working great on all markets. :-)

Only reason I posted was because a long term Kreslik member PM'd me about it today.

Good to "see" you again dchappy. Hope you're doing great!

dchappy wrote:CHA-CHIIIINNGGG !!!!!!

:smt023
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dojirock
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Postby dojirock » Fri Oct 24, 2014 5:07 pm

Nice ric!
"A small loss is just as satisfying as a large gain" -MO
"Sometimes we need to stop learning and start thinking...."
"Once you stack, you'll never go back!"

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RicG
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Postby RicG » Fri Oct 24, 2014 5:10 pm

dojirock wrote:Nice ric!


Thanks doji - good to "see" you!
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Mon Oct 27, 2014 3:37 pm

Good morning traders,

(Please see comments below the charts):


Image



Chart on the left shows today's CCI/Trendline Break/34 EMA strategy trade that netted 24.6 pips. Notice that I took some heat on this one, but had my stop just above the closest blue line, giving me about a 2-1 risk-reward ratio.

Chart on the right shows a harmonic pattern trade that's still active, currently up about 26-27 pips with my profit target currently set at the cyan colored "Limit" line. Also took some initial heat on this one.

I bring up the "heat" topic to let new traders know, that you rarely get into a position and it goes immediately into profit. Taking "heat", dealing with that psychologically, and knowing when/where to take a stop loss is just part of the trading game.

I bring up the harmonic pattern setup, because of a PM conversation I've had the past few days with a trader here on Kreslik. He said he's very "mechanical" and doesn't feel comfortable using strategies that involve any subjectivity. I suggested he try learning harmonic patterns, because they have very specific mathematical/fibonacci rules and that might suit him well. These patterns have have a great Win % and Risk/Reward Ratio. They do take some time to learn, but IMHO that time spent is well worth it. In fact, it has become my favorite (and most profitable) method of trading.

Great trading to all,
Ric
(Disclaimer - This post is for educational purposes only. Always consult a licensed investment professional before taking any trade. Any trade you take is at your own risk.)

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RicG
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Postby RicG » Tue Nov 18, 2014 1:56 am

I'm normally a scalper, but trying to also develop some longer term trade discipline.

Utilizing my CCI Trendline Break/34 EMA strategy, I've entered
NZD/JPY 3 times thus far. Long term, very optimistic targets
for this trade based on harmonics and 2007 highs, are
93.74, 95.98, and 98.89. If fundamental news comes out
and and changes this very nice strong uptrend,I'll still
get out with a solid profit.
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RicG
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Postby RicG » Tue Nov 18, 2014 9:17 am

Update - NZD/JPY testing 93.00 area . Stop Profits in place below strategic structure. 1st Profit Target only about 70 pips away.
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RicG
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Postby RicG » Tue Nov 18, 2014 10:36 pm

Major round number area of 93.00 was a bit of a temporary "wall". Looking to add to my position IF, solid CCI trendline break occurs near-term after JPY Monetary Policy Statement news has been released and digested, and price has remained above EMA, as per my rules. (Hate these "Tentative" economic news releases")
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RicG
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Postby RicG » Wed Nov 19, 2014 7:19 am

NZD/JPY CCI Trendline was broken to the upside
last night, but I didn't add to my position as price
is now below the 34 EMA. Price pushed down
upon release of the JPY Monetary Statement and
it appears that we are in consolidation.

NZD PPI Input/Output is scheduled for release
later today, and that might determine the next
short term direction.

A possible harmonic pattern is setting up that
would indicate price pushing up to at least 93.53,
or within 20 pips of my initial long term target.
Attachments
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RicG
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Postby RicG » Wed Nov 19, 2014 11:38 pm

NZD/JPY update - the NZD news came out and it was REALLY bad.

The good news is that price only moved down about 30 pips as
immediate reaction to the negative PPI Input/Output numbers.
The bad news is that price seems to be stuck in a holding pattern.
I moved my Profit Stops up just a bit, but still in strategic structural
locations well below the current consoidation area.

There's JPY economic news scheduled to be released tonight and
that might get things moving again.
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RicG
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Postby RicG » Thu Nov 20, 2014 8:31 pm

NZD/JPY Update - Price continues to consolidate right around the 93.00
area, creating a bullish Cup and Handle formation. Needs to break
through 93.00 area decisively fairly soon, or it's likely to go back down
and test the 92.00 level, IMHO. If price breaks decisively up through
93.00 and stays above that level, I'll look to add to the position
utilizing my CCI Trendline Break/34 EMA strategy.
Attachments
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