Currency Trading; September 03

turtle trader

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Am currently long Euro$ @ 11306 - it's difficult to call where it's going next, but agree that when it does go it will probably be a decent move. If it breaks thru 11550 then I intend to add to my postn (hoping for a re-test of 11900 ultimately), otherwise I have a stop just below 11400, and may then reverse

cheers
turtle
 

newboy

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Newtron Bomb
Keep posting your reasoning as well as your trades,only started demo trading today.Do you always use the same/similar rule of thumb re your entries ie +/- the EMA.I find your & other contributers opinions invaluable thank you one and all.
Regards newboy :D
 

Newtron Bomb

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gbp
Reversal short 1.6565 + 15

...nice pull back to ema... lets see if it continues down now the channel support has gone :cheesy:
 

newboy

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Sorry to bother you with what must seem stupid questions but -- is D4Free/cmc spread bettors ? just received their forms.If they are not what would the spreads be between say D4Free/IG Index or any other co.
Regards newboy :confused:
 

Newtron Bomb

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newboy

D4Free/cmc spread bettors ?

yes theyare a spread betting company, but cmc do also have a cfd and forex service

If they are not what would the spreads be between say D4Free/IG Index or any other co.

The spreads on forex instruments will differ slightly from market to market and from broker to spreadbetter but they are all around 5 pips
 

Newtron Bomb

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looking a lot like yesterday so far
 

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Newtron Bomb

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Could this be a top? and maybe a trend change?
You can see the DT above but below it looks like its running out of steam, for now anyway

But what do i know all am doing is buying above and selling below the ema... what fo i care where it goes lol :LOL:
 

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turtle trader

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£$ trend change

Have just been considering that myself, but what do we call confirmation?-

16550 (BO of current channel)
16450 (bottom of the 'flag' that it's currently in on daily chart)
16380 (to fill the gap)?

I suppose it's all 3 for a definite change, do you think? :?:

turtle
 

turtle trader

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Speaking of trend changes, i'm also looking at NZ$/$ - seems to be breaking ST uptrend to form double top with June hi

turtle
 

Newtron Bomb

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All three to be sure it depends on weather you want to trade it or not and your time frames etc

On the daily chart we are clearly seeing a resistance level here

A BO above the peak above 1.68 should show us further advances... and a return back in to the channel would show me that it is not ready to push up, but it is still flirting with more gains.... a break of the lower channel for a downtrend

On 15 mins 1.6560 would trigger a sell for me agian

Once again i feel foolish for stating the obvious :eek:
 

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turtle trader

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Don't feel foolish, it's enormously helpful to be able to discuss ideas like this, even if they just confirm your own thoughts. As someone who has studied TA alone it's a breath of fresh air just to be able to discuss the subject :D

turtle
 

newboy

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I agree find it most helpful & informative keep up the good work NB most appreciated.
newboy :D
 

Newtron Bomb

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gbp
left overnight reversal at 1.6565
also a bit anoyed to find not data a lot of missing data :(
 

Bigbusiness

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The Euro/USD was choppy on Friday but there was another nice head and shoulders this morning. I lost a bit on Friday but made it back in about 10 minutes this morning.
 

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Newtron Bomb

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Ive just got the drop on my charts this morning, nice pullbacks on the way down too

Nice Trade BB ;)
 

Newtron Bomb

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Euro/$
I know the chart looks a bit of a mess
Support and resistance level @ 1.1430 a pause before it broke though and a retest after it did break through... straight from the text book!
 

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