17 JULY 2009 @ 5.50 AM (Malaysia)
Fun-The-Mental...
USD Neutral @ 8.30 PM - Best day to trade purely using technical..
Technical...
4Hr Trend - Still Up... USD Red News with Surprise Result cause price retest Fibbo 50% two times... Price hit my initial trade stop loss and my trading account reduced 2% within few hours...
But I'm decided to re-enter the swing trade as the 4Hr Trend Still Up & 1Hr Line Up and aim for 200 & 300 pips.. If price hit SL again; my account reduced another 2%.. If price hit TP; yesterday loss will recover... So Let's the market decide...
I will monitor this chart; if price breaks HgH... That's good sign for Bull... If price formed a HgL.. Then price in consolidation (undecision) phase...
Updated @ 12.10 Noon
4Hr Trend - Confirmed Bear.. 1Hr Line up.. Momentum Support for further down..
Exit my Long Trade...
Enter Short @ 153.34; SL @ 154.34... TP 200 Pips..
Updated @ 4.02 PM
4Hr Trend Still Bear.. Bearish Momentum... No sign of rangebound in 1Hr...
My Short Trade Still On... Awaiting for price to Hit TP... I don't care if price hit SL... Only exit if 4Hr Trend Change...
Updated @ 8.15 PM
4Hr Trend still Bear.. No sign of rangebound... Plan; hold the swing trade...
Reminder: Always assume the underlying trend to continue unless proven otherwise
By Owner of Caripips Blog
Fun-The-Mental...
USD Neutral @ 8.30 PM - Best day to trade purely using technical..
Technical...
4Hr Trend - Still Up... USD Red News with Surprise Result cause price retest Fibbo 50% two times... Price hit my initial trade stop loss and my trading account reduced 2% within few hours...
But I'm decided to re-enter the swing trade as the 4Hr Trend Still Up & 1Hr Line Up and aim for 200 & 300 pips.. If price hit SL again; my account reduced another 2%.. If price hit TP; yesterday loss will recover... So Let's the market decide...
I will monitor this chart; if price breaks HgH... That's good sign for Bull... If price formed a HgL.. Then price in consolidation (undecision) phase...
Updated @ 12.10 Noon
4Hr Trend - Confirmed Bear.. 1Hr Line up.. Momentum Support for further down..
Exit my Long Trade...
Enter Short @ 153.34; SL @ 154.34... TP 200 Pips..
Updated @ 4.02 PM
4Hr Trend Still Bear.. Bearish Momentum... No sign of rangebound in 1Hr...
My Short Trade Still On... Awaiting for price to Hit TP... I don't care if price hit SL... Only exit if 4Hr Trend Change...
Updated @ 8.15 PM
4Hr Trend still Bear.. No sign of rangebound... Plan; hold the swing trade...
Reminder: Always assume the underlying trend to continue unless proven otherwise
By Owner of Caripips Blog
4 comments:
bro admin..
got two question..
1) u said b4 that retrace will kis 5 sma..in which tf ?? after cs kiss 5 sma willit rebounce or continue up/down more ??
2) how to read the fibo ?? do we need to threat it as s&r also ??
3) why is there s&r in forex trading ?? what cause it ?? also trendline..cause when it hit 1 of this..it will retrace..if it cross over..it will go higher or lower..
4) the other day i ask about triangle breakout..yes, it will follow neckline..but it will break until which area ?? after it breaks out, will it break until certain trrendline..or it just breakout and dindt stop if it kiss a certain trendline..u get what i mean ??
-kuchai @kuchaia@yahoo.com-
-kuchai-
Bro Kuchai...
1. 5SMA adalah special observation price action, 5SMA dan momentum...
2. Fibo nie subjektif.. pelbagai cara interpret.. standard technical analysis book guna fibbo sebagai SR line.. to me... if you use Fibbo to determine retracement.. so you call it fibbo retracement... then you must asked your self.. Price retrace ? what trend.. up or down... then how far price boleh retrace... if price open below 38%.. then price will test 50%.. if price open below 50% after test 50%.. price will test 68%.. and so on... Then asked your self... when this retracement means change of trend???
3. Why... many reasons.. But the reason price move because of 3 factors.. Insider.. Outsider.. & Unknown.. for me as trader, its not important why... Investor mostly focus on why?.. so just trade what you see...
Summary...
Biasanya ada 3 type of entry... Trend Riding entry... Fading Breakouts Entry... Breakouts Entry.. when price hit SR line.. Next question is ? Breaks Or Bounces... This is the basic trading idea...
admin..can u explain more bout 5 sma..the usage of 5 sma and momentum..is the momentum line equals to trendline ??
admin..about the fibo thing..regarding ur example..if price open below 38 %..why not the price test 38 % first before testing 50 % ??
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