Some of my trades, forecasts

[4xpipcounter]

If you're long, then hang in there, the pair will go to the moon, eventually.

PS, I, also, am STILL on the EUR/CHF, In for a penny etc

 

[4xpipcounter]

Eur/jpy

Watch for reaction at 106.94, which is my WS2. We had a continuation from WS1 at 107.94

 

[Metals trader]

Re: Eur/chf

I'll discuss a shortcoming of mine. Judging by comments in the PM's e-mails, and IM's, many people following this thread are learning a method to trade with. I don't know it all, but I sure wold like abet anyone's interest to that end. I'm also not going to pretend to be indestructible. All of us have faults, and when it comes to trading we better know how to address them. We are not only made excellent traders because we have such glowing and wonderful good points, but also by acknowledging where possible shortcomings are at and dealing with them.
First of all, the 3 M's are essential, or be prepared to fail, and they are the methodology, margin management, and mind management. There are other elements that really branch from the 3 M's, that also need to be addressed, one way or another.
That brings me to my shortcoming. I am bullheaded in many ways. I was determined that the price was going to hit my WR1 or I was going for the ride. Well, I went for the ride. It is at this point that having ice in your veins helps. It is also evident and helpful to have a backup plan (Story for another day.) in place. I do admit, it would have been better to take the trade out for a 30-pip loss, then enter where it is now, but that's not what I decided to do.
This is where I get e-mails (Not giving your names) and panic, "Oh my goodness!!! What is happening on the EUR/CHF!!! Were you wrong!?!?"
That's why I say, especially if you don't have the mental makeup, don't follow other people's trades, no matter how good you think they are. Also, when you enter a trade, you need to have a plan for exiting and a backup plan. That's why the one that sent me the e-mail is panicking, and why I am not.
I got news for you. Even though I do not think it will happen, the EUR/CHF could drop to 1.2786. Just a fact. Better have a plan in place if you are long.
Successful traders know these things, so I'm hoping maybe I got some new ones to thinking through my rambling.

I think thats why people need to do their own research, develop a trading plan instead of relying on others - of course learn from people, observe how they trade here, but it takes time and patience to develop and be comfortable with a trading plan. dont rush it, is always the best advise.

I agree about eurchf, if it cant hold this level today and rally then it opens upthe 1.27 to 1.28 area, if it does get down there i will sell puts and buty calls for sure.

 

[4xpipcounter]

Re: Eur/chf

I wholeheartedly agree. You won't be a winning trader just by replicating someone else's signals or forecasts. There has to be a principled methodology behind the replication. This is why someone e-mailed me in an utter panic over the EUR/CHF, and I'm sitting here like another day at the office.

I think thats why people need to do their own research, develop a trading plan instead of relying on others - of course learn from people, observe how they trade here, but it takes time and patience to develop and be comfortable with a trading plan. dont rush it, is always the best advise.

I agree about eurchf, if it cant hold this level today and rally then it opens upthe 1.27 to 1.28 area, if it does get down there i will sell puts and buty calls for sure.

 

[4xpipcounter]

Weekly S&R's for gold

Hari, I almost forgot about you.
R3--1272.32
R2--1256.42
R1--1247.05
S1--1228.31
S2--1218.94
S3--1202.82

Here's the analysis for the week:
Gold: More corrective noise will be seen this week. The peak at 1264.96 should hold,. All moves downward will be looking at containment in the circa 1195.76 area.

 

[4xpipcounter]

Usd/chf

Watch for a reaction at 1.0146, which is my WS2. We did get the proper correction at WS1, 1.0210, but momentum on this current leg is waning.

 

[4xpipcounter]

Gbp/chf

I missed on this pair in my Weekly Report. This strong additional leg downwards was unexpected. Look for a strong reversal It looks like a freight train now, but it is headed to the station. The reversal, when it happens is going to be real strong. MS3 is 1.5587 and WS3 is 1.5623.

 

[Metals trader]

Re: Gbp/chf

I missed on this pair in my Weekly Report. This strong additional leg downwards was unexpected. Look for a strong reversal It looks like a freight train now, but it is headed to the station. The reversal, when it happens is going to be real strong. MS3 is 1.5587 and WS3 is 1.5623.

Agree. i'll buy circa 1.5550 methinks. I also nibbled EURCHF at 1.2885.

 

[4xpipcounter]

Re: Gbp/chf

I may have been wrong on exact turning point of the EUR/CHF, but it is preparing for a northward explosion.
With this recent surge south on the part of the GBP/CHF, it is also getting ready for something huge. The difference is the GBP/CHF moves faster, but has had lesser time to get set up.

Agree. i'll buy circa 1.5550 methinks. I also nibbled EURCHF at 1.2885.

 

[4xpipcounter]

Usd/cad

The monthlies are going to change in about 4 hours, but 1.0702 has been the MR3. I'm looking for the WR2 to possibly be containment on this small correction, and then a further climb, which will be a circa 1.0702 area as opposed to something more exacting as the MR3 at that point. It could also hit the WR3 at 1.0721

 

[Metals trader]

Re: Gbp/chf

I may have been wrong on exact turning point of the EUR/CHF, but it is preparing for a northward explosion.
With this recent surge south on the part of the GBP/CHF, it is also getting ready for something huge. The difference is the GBP/CHF moves faster, but has had lesser time to get set up.

agree about eurchf, it it moves to betwee 1.27 and 1.28 i will be fully long and wil lbe looking for +600 at least.

 

[4xpipcounter]

Re: Usd/chf

The move UP has begun from the WR2. If this is only a correction, then parity becomes a possibility.

Watch for a reaction at 1.0146, which is my WS2. We did get the proper correction at WS1, 1.0210, but momentum on this current leg is waning.

 

[JahDave]

Re: Usd/chf

Watch for a reaction at 1.0146, which is my WS2. We did get the proper correction at WS1, 1.0210, but momentum on this current leg is waning.

That is funny because I went long at 1.0150 before I read this because that was the 161% expansion of the last move up and it broke my third band.

 

[4xpipcounter]

Re: Usd/chf

We got to be careful. The last few times were 1 and 2 pips off. Now, we are all the way up to 4.
Here's a funny thing. My wife, every once in awhile will ask me a question about the markets or about how I'm trading, or want to look at a chart to see where I might take a trade. This happens about once a month. Our time came tonight. I was talking to her about the similarities in styles that methodologies have. I brought your name up, and we were talking about you the same exact time you made your post at 9:30 pm EST.
I hope your chart is right. I knew we would get at least a correction at this point. I know there is still room for a move further south. But, I got 2 basic reasons why I am hoping you're right. My forecast in my WR was for a reversal in this circa area, and I am holding the EUR/CHF, and this move is going to impact the cross.
Ulterially, I don't like admitting I'm wrong on a forecast, and if you're not right, then I'm going to have to do that on the Weekly Review. Gotta protect my ego, y'know-- lol.
BTW, I only got one closed trade this week, which is that AUD/JPY position. It cracks me up. I got something close to 100 pips overnight. I'm not poking fun, but that one thread you and I collaborated on, their goal is 100 pips per month.

That is funny because I went long at 1.0150 before I read this because that was the 161% expansion of the last move up and it broke my third band.

 

[4xpipcounter]

Re: Gbp/chf

MT, you will make out better than me. I got in a little too early. But, like you, I see a rise to circa 1.34. I'm not sure I'll hold it that whole time, though. I should be good and tired of looking at it on my platform once it gets close, and I'll be shopping for something else to replace it.

agree about eurchf, it it moves to betwee 1.27 and 1.28 i will be fully long and wil lbe looking for +600 at least.

 

[JahDave]

Re: Gbp/chf

MT, you will make out better than me. I got in a little too early. But, like you, I see a rise to circa 1.34. I'm not sure I'll hold it that whole time, though. I should be good and tired of looking at it on my platform once it gets close, and I'll be shopping for something else to replace it.

I'm tired of looking at my trades as well, but I'm in now and they are finally turning, so I won't be moving until I can maximize the pips.

 

[JahDave]

Risk trades are looking very good now..........At least until Friday when the unemployment numbers come out....

 

[JahDave]

Risk trades are looking very good now..........At least until Friday when the unemployment nubers come out....

I will reiterate that........ It is important this week.

 

[4xpipcounter]

The USD/JPY has just finished it's 13th bear August in 15 years. The exceptions were 2006 and 2008.

 

[JahDave]

The USD/JPY has just finished it's 13th bear August in 15 years. The exceptions were 2006 and 2008.

My last 2 days with this pair was not good, but the 5 before that was, so there ya go.......
I still say it should go up from here....