Forex trading live calls and set ups

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Rooster34 said:
I was in well before the spike, euro broke out of strong resistance yesterday, and I'm holding it for a swing trade up to 4200 ( hopefully ), so at one point I was up 100 pips. still holding.
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I was surprised to see such a violent movement, given it was odds on rates would be kept at 1%, Trichet's comments were paramount..
 
Black Swan said:
I see what you did there..;)
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Lol, a big engulfing bar at extremes is an A+ setup for me. Sad thing is I didn't even notice it. I was to busy looking at euro pairs because of that big spike. When you called the swissy swing I took a look and viola, great setup for me. Hope you don't mind me piggy-backing on your call like that:innocent:
 
Black Swan said:
I was surprised to see such a violent movement, given it was odds on rates would be kept at 1%, Trichet's comments were paramount..
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I don't really look at fundys, but maybe I should start, we are trading strengths/weaknesses of economies and perceptions of those strengths/weaknesses after all.
 
Rooster34 said:
I don't really look at fundys, but maybe I should start, we are trading strengths/weaknesses of economies and perceptions of those strengths/weaknesses after all.
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Yes *we* are, but that info eventually 'bleeds' onto your charts and on higher TFs you still get plenty of time to engage, react and adapt..
 
Rooster34 said:
Lol, a big engulfing bar at extremes is an A+ setup for me. Sad thing is I didn't even notice it. I was to busy looking at euro pairs because of that big spike. When you called the swissy swing I took a look and viola, great setup for me. Hope you don't mind me piggy-backing on your call like that:innocent:
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Your call, your method nowt to do with me..fwiw I took a few other new swings today..

gbp/chf long, filled at 15135 stop 15027 (yesterdays low)

aus/usd short, filled at 10135 stop 10188 (todays high)
 
Black Swan said:
Your call, your method nowt to do with me..fwiw I took a few other new swings today..

gbp/chf long, filled at 15135 stop 15027 (yesterdays low)

aus/usd short, filled at 10135 stop 10188 (todays high)
Click to expand...

I don't follow sterling/swiss simply because I'm trying to limit pairs I look at so I don't overwhelm my brain :eek:

However it's good to know that you went short on aus/usd, I have signed up for Phil's website ( not the live room ) and I'm looking at using his swing strategy on higher timeframes. Specifically daily entry into the monthly timeframe. Today's particular bar is a bar that you would base direction on. Price falls below, go short, above go long.
I won't be taking it though because right now the swissy and euro positions have about 20% of my account at risk.
Just nice to know that I may be getting a method down, I'm working on the mind part, and someday maybe the money.
 
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Rooster34 said:
I don't follow sterling/swiss simply because I'm trying to limit pairs I look at so I don't overwhelm my brain :eek:

However it's good to know that you went short on aus/usd, I have signed up for Phil's website ( not the live room ) and I'm looking at using his swing strategy on higher timeframes. Specifically daily entry into the monthly timeframe. Today's particular bar is a bar that you would base direction on. Price falls below, go short, above go long.
I won't be taking it though because right now the swissy and euro positions have about 20% of my account at risk.
Just nice to know that I may be getting a method down, I'm working on the mind part, and someday maybe the money.
Click to expand...

Can't recall what thread it was on earlier in the week where we discussued straying even slightly outside your plan and getting smashed..well that Aussie trade was outside my plan, it met conditions on 1hr Tf but not on the 2hr tf..but *happy* (ish) to take it given the stop could be (according to my rules) quite narrow, it's looking a touch sick atm but leaving stop where it is...we'll see when down under/Asia opens..:)

Been short nzd/usd for a few days too, been a good week thus far...
 
Black Swan said:
Can't recall what thread it was on earlier in the week where we discussued straying even slightly outside your plan and getting smashed..well that Aussie trade was outside my plan, it met conditions on 1hr Tf but not on the 2hr tf..but *happy* (ish) to take it given the stop could be (according to my rules) quite narrow, it's looking a touch sick atm but leaving stop where it is...we'll see when down under/Asia opens..:)

Been short nzd/usd for a few days too, been a good week thus far...
Click to expand...
swissy -> engulfing candle
gbp/chf -> engulfing candle
nzd/usd -> engulfing candle
I definately need to keep a better eye out for those candles. (y)
 
Rooster34 said:
I've seen heiken ashi (sp?) what's the advantage?
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I'm on a different pc atm, have a good link explaining the advantages on another I'll dig it out next time I'm on here..but why not change them now and see what you think..? imho on 1hr/2hr/4hr TFs they're a dream..
 
Black Swan said:
I'm on a different pc atm, have a good link explaining the advantages on another I'll dig it out next time I'm on here..but why not change them now and see what you think..? imho on 1hr/2hr/4hr TFs they're a dream..
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Can't on my current trading station. They give me set options for indicators...
edit: they do actually. lemme play with it and I'll let you know what I think.
 
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Rooster34 said:
Can't on my current trading station. They give me set options for indicators...
edit: they do actually. lemme play with it and I'll let you know what I think.
Click to expand...

Interesting, I'll try them out, part of what I think is my edge atm is candle analysis, this seems to average out candles into trends, wich may or may not help me. But it's alway cool to learn something new...
 
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