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Author Topic: TA Forex Trading  (Read 16214 times)

Pennies2007

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Re: TA Forex Trading
« Reply #540 on: February 15, 2017, 08:24:20 pm »
Hey gang, I just wanted to throw this out there for everybody. Keep in mind that when I post about the methods I use for myself, please remember that I'm not necessarily advocating that you adopt my methods. I'm not by any means a great trader . I just simply found something that works for me and I absolutely want each of you to do the same...find what works for you and stick with it. Please feel free to share any methods or ideas you have with the board. Believe me, everybody have something valuable to contribute here no matter where we are in our trading. That's the great part about working together as a team.

Anytime I make posts or comment on a trade or a post from someone else, I don't mean any disrespect to that trader or their method by any means. I just want to help in any way I can, as I believe we all do.

So just ignore my ramblings (as I'm prone to do from time to time)...I am officially old by the way so I guess that comes with the territory...LOL!

Just wanted to make sure I don't get anyone upset or offend anyone. I want the board here to do well and keep growing so we can all help others as they come along if they need it or ask for advice along the way.

So if I ever get to where I'm a pain in the ass, please feel free to tell me immediately...I promise it won't bother me at all...ROFL!  :-)
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Pennies2007

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Re: TA Forex Trading
« Reply #541 on: February 16, 2017, 04:52:15 am »
Shorting GU at 1.2518, looking for 1.21 TP.

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Pennies2007

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Re: TA Forex Trading
« Reply #542 on: February 16, 2017, 05:08:38 am »
Moving my EG long target up to .88.

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kermit42

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Re: TA Forex Trading
« Reply #543 on: February 16, 2017, 06:06:21 am »
Mornin' Pennies. I hope nobody is overly swayed by anybody's trading. There is too much to take into account. Time frames, for one. And the fact that the chart read can change as events unfold. A pattern may be broken. I've found in my own trading that my biggest wins come when your reading and mine agree (but not every time!). Risky when we disagree and I follow my read. Disastrous when we disagree and I ignore my read.

I have no understanding of wave counts other than that the number 5 comes up a lot. And if I don't enter or exit at leats once every couple days, I feel like I'm on the sidelines even. I use hourly and daily charts. Others use weekly, other 15-minute, so what is a good entry for one might be a bad entry for another.

You, by any standard, had a good entry on GU.
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Pennies2007

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Re: TA Forex Trading
« Reply #544 on: February 16, 2017, 06:13:33 am »
Morning Kermit. Yep things can change and sometimes change quickly. I can't begin to even count the times I've entered a trade, suffered a drawdown, and then gone back and had a "captain obvious" or Homer Simpson "doh!" moment when I finally saw clearly what was really happening...lol! So far so good om GU. I expect a substantial amount of downside coming there, likely even new daily lows. But 1.21 will do for starters. I just happened to look at the daily chart this morning and realized what was happening.

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kermit42

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Re: TA Forex Trading
« Reply #545 on: February 16, 2017, 08:43:22 am »
Been scratching my head over dollar weakness. At the start of the week, all the charts said strength. Yesterday and today got big dollar news, and yet here we are basically where we were on Monday. Forexlive thinks it has an explanation. If they're right--that a very big player is getting hammered on S&P shorts and is unwinding a big dollar position to cover, then this is artificial weakness that will go away when the player is done.

If they're right.

http://news.forexlive.com/!/is-there-a-big-liquidation-causing-the-current-malaise-in-the-dollar-20170216
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Pennies2007

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Re: TA Forex Trading
« Reply #546 on: February 16, 2017, 10:40:52 am »
Very possible Kermit. If the volume overall is light enough, a single big player can move the market.

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Pennies2007

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Re: TA Forex Trading
« Reply #547 on: February 16, 2017, 11:30:27 am »
Closed out the EG long...that thing just moves too slow. GU short looking good now. Finally got some selling volume.

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Pennies2007

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Re: TA Forex Trading
« Reply #548 on: February 16, 2017, 11:50:15 am »
Closed out the GU short for about 44 pips profit. I just dont like the way it keeps stalling out. With my luck it'll fall apart now.

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ForexTrader

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Re: TA Forex Trading
« Reply #549 on: February 16, 2017, 04:32:04 pm »
closed my gbp/jpy short for 95 pips.  now jumping in an AUD/CAD short @ 1.0052
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Pennies2007

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Re: TA Forex Trading
« Reply #550 on: February 16, 2017, 04:33:29 pm »
Very nice trade on the Beast...congrats! 😃

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ForexTrader

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Re: TA Forex Trading
« Reply #551 on: February 16, 2017, 04:36:47 pm »
Quote from: Pennies2007 on February 16, 2017, 11:30:27 am
Closed out the EG long...that thing just moves too slow. GU short looking good now. Finally got some selling volume.

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haha EUR/CHF and EUR/GBP both. 
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ForexTrader

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Re: TA Forex Trading
« Reply #552 on: February 16, 2017, 04:38:50 pm »
Quote from: Pennies2007 on February 16, 2017, 04:33:29 pm
Very nice trade on the Beast...congrats! 😃

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Thanks, you caught that Gbp/usd short nicely this morning as well
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Pennies2007

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Re: TA Forex Trading
« Reply #553 on: February 16, 2017, 04:41:43 pm »
Yeah wish it had kept going but I just take what the market offers. I just glanced at Acad. I might join you short on that one but it looks like one more pop is coming so I'm gonna wait a bit longer.

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Pennies2007

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Re: TA Forex Trading
« Reply #554 on: February 16, 2017, 05:37:18 pm »
Just got home and took a good look at the ACAD chart. It's definitely got upside coming, potentially as high as 1.03 in coming days. For now, I'm long at 1.0065 with near term TP set at 1.0120 conservatively.
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TA Forex Trading by Heavyweight
September 30, 2018, 11:48:51 pm