Forex Trading - January 2004

[Naz]

The rounded bottom just above 1.7800 was also a fib retracement from the previous leg up as well.I might have guessed Newtron Bomb started this thread.I hope guys keep it going.

 

[Newtron Bomb]

Hi naz
Glad to see you here

The fib master applies his talents to forex

Your talents never cease

Happy trading
NB

 

[Naz]

Hi NB

It was you that told me that fibs work so well on forex.Thats why i've been checking them out on GBP/USD.The leg down from 13/1-20/1 on GBP/USD was full of them.I've been quite amazed.In that leg i counted i counted six fib pullbacks as it fell from approx $1.85 to $1.78.

Naz

 

[Newtron Bomb]

Naz

It was amazing that move...
I just closed my eyes, held my breath... went to Spain and listened to the cash register.

A brilliant way to spend a break away

I dont think it matters what time frame you look at naz (within Reason) and you will find a decent opportunity.

Looking at eur/gbp theres some reasonable action brewing up on the weekly

NB

 

[Newtron Bomb]

And eur/usd daily

 

[Newtron Bomb]

Naz

It was amazing that move...
I just closed my eyes, held my breath... went to Spain and listened to the cash register.

A brilliant way to spend a break away

I dont think it matters what time frame you look at naz (within Reason) and you will find a decent opportunity.

Looking at eur/gbp theres some reasonable action brewing up on the weekly

NB

 

[Newtron Bomb]

GBP still toying between fibs, waiting for a BO of days range for s short term trade, likewise with eur

Happy Trading
Newtron Bomb

 

[Newtron Bomb]

something interesting on eur 15min

 

[Newtron Bomb]

...and the daily seting up nice

 

[Zenda]

Yummy Yummy Yummy

Nice drop to just below 50% Fib again - Nice dro gained 136 pips trailed stop to retracement - one happy trader tonight - thats it G'night all.

 

[darktone]

whooossshhh

nice break for the trend spotters..any news out? or did alan put his foot in it again

 

[DaxTrader]

err, GDP and personal consumption data

If you didn't know that it was coming out, lookout at 14.50 and 15.00 today too, Michigan sentiment and Chicago PMI

not really tradeable at that speed

 

[darktone]

to be honest i dont watch news at all just set orders around trends..

 

[darktone]

up? down?

 

[DaxTrader]

LOL

yes, you can make a case for any of those patterns, prolly a few others too

 

[darrenf]

DT

take a look at the same pattern on gbp/usd.

sideways triange with break to upside this am.

........must learn how to post a chart!!

 

[darktone]

busted triangle says down
decling triangle says down

just the minor niggle of the of the 3 yr uptrend to deal with now

to early to tell of course.. but a play or SAR at the breaks cant be a bad idea..

BTW you know that last break o trend on the gdp i scored..i got stopped flat after being 80 in profit!
...i was so disgusted with myself that i turned the screen and missed the following break north!! lmao

i got 2 stratergys now one to take em on the inside and one to let run and add on the outside..

for all the puff the market has had over the last few weeks ive walked away with nowt i cant be having that.

 

[DaxTrader]

see what you mean darren, much clearer

3rd proper upswing in pattern possibly, the top of the big tri looks like 1.8475 ?

sym tri's seem to break on the 3rd proper attempt

 

[darktone]

yep got you.. to be honest cable always seems to give me a slap so i leave well alone .. that said its looking cleaner than E$ at the mo


btw darren

you got a pm