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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Fri Nov 05, 2004 10:50 am    Post subject: What happened! Reply with quote

Well John, by looking at the 30min. chart, I must admit my mistake. A big one indeed.

It would be helpful if I wait for the close of every bar for a quick analysis.

1) The first pattern, the morning star(inside the first circle), was the confirmation of my bullish trade.

2) Then came the break of the pattern, and the support line at 1.2850. Stopped out of my long trade, and reversed short.

3) Then came 2 hammers right sitting on the 200ema.

My last trade should have been out at 5-10 pips loss, and then reverse long.

Anyway this is after the fact, and let's see I'd repeat the same mistake again.

I'll be going out of the country for couple weeks for work. Hope I can be able to trade. Let's see how reliable my internet connection would be!

Have a great weekend.

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John_M



Joined: 20 Oct 2004
Posts: 84
Location: Australia

PostPosted: Fri Nov 05, 2004 8:18 pm    Post subject: Reply with quote

Hi Frank..


Well check out the differences again in the charts.



Dont know which one is good or bad or right for that matter but there should not be such big differences between charts only a few pips at best.

Regards

john
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Fri Nov 05, 2004 11:53 pm    Post subject: Reply with quote

Yes John. It's amazing how bars look different from different data vendors! I wonder which candle signals you really can trust Confused

What I can tell you from the shape of the candles from your chart and mine, I must admit mine looks like a better hammer than yours. Yours has a question mark attach to it! Still can't get over it how I missed the trade!

Cheers.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Tue Nov 09, 2004 6:22 am    Post subject: eur/usd Reply with quote

1.2890 is providing a good support:

Bought 1.2900 SL 1.2865 TP 1.2950
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Tue Nov 09, 2004 6:35 am    Post subject: Update... Reply with quote

Exited at 1.2895 (-5)

Didn't like the combination of a hammer and doji in the 30min. chart, with prices crossed below the doji.
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John_M



Joined: 20 Oct 2004
Posts: 84
Location: Australia

PostPosted: Tue Nov 09, 2004 6:58 pm    Post subject: Reply with quote

Hi Frank..

Been a slow week so far...did not trade on Monday not enough movement to get in for me and tuesday well managed to get in but again just no momentum in any direction a few pips lost (-10).

there has to be some moves soon I cant see this low activity lasting.


Regards

john

Note: you out of the country yet if so..see your internet is working ok.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Tue Nov 09, 2004 8:23 pm    Post subject: Reply with quote

Hi John,

The longer eur/usd stays below 1.2900, the more bearish pressure. Don't know how to interpret candle signals in a sideway condition that this pair is now. 1.2850 is the next support, and that's where this pair is itching to go now, and possibly toward 1.2800.

I am in Paraguay now, and a major tropical storm heading our way...doubt I can have this internet connection up for long!

Take care, and watch how usd/chf might give us a nice rally this week. Only time will tell.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Wed Nov 10, 2004 4:26 am    Post subject: eur/usd... Reply with quote

Shorted this pair earlier at 1.2890, but quickly got stopped out(-20). Bulls are strong, no doubt about it. A hammer right on 200ema at 1.2880 is now a soild support.

1.2880/1.2900 could be a good place to enter a long position.
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John_M



Joined: 20 Oct 2004
Posts: 84
Location: Australia

PostPosted: Wed Nov 10, 2004 5:29 am    Post subject: Reply with quote

Hi Frank...


You shorted EUR.. I shorted the CHF managed to pick up a few pips with a break below 1.1790 could have let it run a bit but I wanted to get some winning pips under the belt for this week..its almost over.

Regards

john
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Wed Nov 10, 2004 5:33 am    Post subject: Reply with quote

Hi John,

EUR is strong, and no sign of reversal...I went long now at 1.2940 SL 1.2890 TP 1.3030

I think this pair will hit the high by the end of this week. Hope I am right on this one.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Wed Nov 10, 2004 5:41 am    Post subject: usd/chf... Reply with quote

Shorted this pair as well at 1.1807 SL 1.1830 (target open)
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John_M



Joined: 20 Oct 2004
Posts: 84
Location: Australia

PostPosted: Wed Nov 10, 2004 5:41 am    Post subject: Reply with quote

Hi ..

Well your 1.2940 is the same level I have for going long I just looked at them both and CHF was moving quick so I thought that one with the momentum would get me a winner.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Wed Nov 10, 2004 5:45 am    Post subject: Reply with quote

Well John, I am going to let this two trades run their course...signing out now, and good luck with your trades.
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John_M



Joined: 20 Oct 2004
Posts: 84
Location: Australia

PostPosted: Wed Nov 10, 2004 5:47 am    Post subject: Reply with quote

Hi..


Ok Frank have a good day. dont work to hard
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Wed Nov 10, 2004 11:52 am    Post subject: Update... Reply with quote

Well John, what a roller-coaster ride. My eur/usd got stopped out. Before signing out today, I had a target set in my hyper-forex platform for usd/chf at 1.1710 which hit the target(lucky me). Overall, I got out of these two trades with only +40 pips. Can't complain though.
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