PA, S/R, ZL, EXTREMES & MOMO

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Belkin
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Postby Belkin » Tue Sep 06, 2011 12:39 pm

I trade by the concept of closing if price crosses over my line.

But I still have my SL in place .. its a 90 SL most of the time sized for 4.5% risk. I do that to have it as back up.

I am shoer GU since past week. the move was violet but i have enough space and then price retraced towards by direction.

The move on USDCHF was another deal!
Nice move.. those longing from previous weekly extreme but me raking about 700 to 1000 pips!!!!

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paweldobkowski
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Postby paweldobkowski » Tue Sep 06, 2011 1:25 pm

I'm scalping mostly so I'm changing my bias quite often (I don't mind scalping counter trend I just change my position management). I'm trading with fixed stop (everything from 5 to 25) which is sized for 1 to 3% risk.

According to my plan there was a signal to go long before that strong move up. Only took 20+ though. Anyway I was sticking to my plan so I don't mind. I made about 4% on that move so I consider it a good trade.



Shorting that move was another story :wink:
Last edited by paweldobkowski on Tue Sep 06, 2011 1:26 pm, edited 1 time in total.

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rob_deniro
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Postby rob_deniro » Tue Sep 06, 2011 1:25 pm

That move on USDCHF was ridiculous!

Can someone explain what the point of pulling something like that in the markets is please, whats to stop it being sold back into the ground again in the hopes of more intervention? or is it fear of more...

Or am I being naive :)

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newscalper
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Postby newscalper » Tue Sep 06, 2011 1:53 pm

Some markets are being sold back into the ground again :D
Was looking for long on retrace on cable but it's gone straight through.
Just sitting here watching these massive moves on the sidelines, yeah I saw the short entry but it's straight into levels where should be looking for longs.

Aussie looking promising for up though.

Belkin
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Postby Belkin » Tue Sep 06, 2011 2:05 pm

GU has been down for a while... been short since august 24.

Image

i have good space so I could resist todays pullback.

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newscalper
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Postby newscalper » Tue Sep 06, 2011 2:11 pm

Yeah, I know. But if you were looking to get into a trade this morning on shorter TFs you wouldn't have been looking for a short now would you? Price is reaching that big daily MZ plus there's been the big move up this morning.
You'd be looking for long on a retrace..well I would anyway

Belkin
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Postby Belkin » Tue Sep 06, 2011 3:15 pm

newscalper wrote:Yeah, I know. But if you were looking to get into a trade this morning on shorter TFs you wouldn't have been looking for a short now would you? Price is reaching that big daily MZ plus there's been the big move up this morning.
You'd be looking for long on a retrace..well I would anyway


my analisis

Image

Belkin
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Postby Belkin » Tue Sep 06, 2011 3:24 pm

Also look at the grey 3cc after.. i showed momo but had a huge wick..

even if you longed there.. the next grey 3cc closed over it. so you are out..

If you sized properly you could not get a severe drawback to the account

erika_bb
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Postby erika_bb » Tue Sep 06, 2011 3:37 pm

what timeframe charts do you guys trade. im starting to feel the h4 chart extremes are too unreliable . daily , weekly?

Belkin
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Postby Belkin » Tue Sep 06, 2011 4:07 pm

weekly extremes. daily extremes..

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