Majors Thread: EUR, USD, GBP, JPY

AAARRRRRRRGGGGGGGGGGG! I'd just got a position long on eur/jpy out of 140.68 on this move down but allow it to go for a 3pip gain cuz I thought it was retesting and breaking the TL. . .now it looks like that I just gave up prime placement....dratness....It would tick off me never to get anything close to what I'd... That's why I normally kinda. It keeps me in the game and also the positioning....

AAARRGGGG...I hope it breaks just to make me feel alittle bit better.


Edit: I feel better it broke. Although there are many degrees throughout this range to get. I sitting outside. I had a brief on eur/jpy nearly two pennies high I'm not holding anymore. An illuion of intraday meddling coming back to bite at me.

After the fruion of yesterday I set out to loe a new something, anything to help identify the breaking point of eur/jpy. I use to use a method with this pair that anytime it pierced the bolband on the chart and fairly frequently the hrly chart the price could find it's way back to the middle of the range than after. After I discovered this anomoly and after the backtesting the pair started to alter it's habits making the method useless. I never got more than a couple months out of it.

The eur/jpy has proven an ability, especially with the short runs, to just explode for a few days and take alot of ground to the short side. It does stop for support levels when it starts to go. It just keeps pushing and pushing it's way. Unfortunately it likes to bounce some of those resistences off stalling it at the range, at times it will do it. I wished to loe a way to spot when it wants to break. Well. It is not perfect but I believe I discovered a nuance for this pair which may let me trade it successfully.

Not necessarily but most often when this pair is in a place to kake a long short run....um. . .yea. . .that's right. . .long short run. . .Whta I mean by set up is overbought stoch, over the majority of the MAs about the most ignorant charts, things like this. We are all waiting for it to finally snap and it likes to take 1 day down one day back up. It has caused me to close a place that was promising more than once. The thing is straightforward. Two times down. Two daily candles down color. It is not perfect and it's not fancy. But only from an eyeball of this past year it appears like that nearly everytime it's at a level where I'm waiting to go bearish once it develops two candles on the daily chart, it's gone. From the next day it's still bearish. Only a couple times did it take a dip following the second or next day it just plows on through all of the resistence and leaves it quite profitable.

The only problem I see is that occasionally, close to half the time, by the time the next day rolls around and you also get confirmation on this second candle the price has moved quite a bit already and greatest positioning for a short trade is long gone. So it might not make a great entry sign unless the price was wallowing around high in the range even after the next candle confirms bearish. I use some help on the chart to get good positioning when it enter this daily installment so I'm going to explore integrating this information so I really don't close out any great positions. I will remember that if on the next day the price has traveled to the middle of the daily range there might be a substantial bounce as it's happened a couple times that way. If I use a trailing stop struck could be got by it. It is not too helpful of a happening but I can use it to keep profitable positions open longer.

When I had identified this before yesterday I would have shorted the pair after the next down day was confirmed which could have given me fairly great position with this movement down. Eh, live and learn...

Below is a screen shot ( I edited out the True Absolute Fibo levels the indior was showing cuz I suppose those are proprietary in Character?? ).

The setup for me on this particular trade was I was seeing for a break over the solid blue 0%lineup that would be breaking out of the congestion that often occurs round the 144 tunnel as shown from the background light blue dashed wavy lines over the solid bold blue line, as indied in the area within the oval. In the time of the entrance I noticed the first take profit fibo off the tube was converging on the 76.4% Aqua dash AbFibo indior line. I believed I'd place the TP below the top solid blue line (100%) in this set and so place the TP in 1.7528 right in the darker blue dash in the 85.4%.

It's fairly eeeeerie in this screen shot how the currency just tagged both the very best 100%, then retraced to within a pip of the bottom 0 percent, bounced this morning and is currently postponed prior to the FOMC meeting.

I still have much (MUCH) to learn on utilizing the LBT setups, but for my style of between FIBO tunnels this is a nice-confidence-building match.

http://.com/fx_posts/miscpix/GBPUSDabf056_28mar06.PNG

Happy Trading,
Thom

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It is pretty eeeeerie in this screen shot how the currency just labeled the top 100%, then retraced to within a pip of the lowest 0%, bounced this morning and is currently stalled before the FOMC meeting.

I have much (MUCH) to find out on using the LBT setups, but for my design of between FIBO tunnels this is really a nice-confidence-building match.
Happy Trading,
Thom

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Nice. Have you checked out the upward'pointer' on 382 and the 90, 146, 236 with this pair!?

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I am not knowledgeable about the LBT method but I am pretty sure it doesn't have anything to do with a BLT, of course I might be wrong. I looked at the chart you posted along with also a trendline break jumped out at me. From what I am getting with what is about that chart you entered the transaction when it was by the blue line at about 1.7375. The fracture was 30 pips reduced.

For some reason my PS created this whole chart a darker shade of blue....hmmm go figure

edit: Just as I looked at that chart again I was struck by how it's a timeless TL example so I added a little more into the chart to assist illue what I am searching for in a TL.

Base is the first point used to create the TL

Set is your second stage somebody would use to make a TL that could be a potential signal.

Test is a third affirmation of the trendline.

If it's an untested TL with only a bottom point and set stage, to me it is not as strong as one that's been tested. Because you get alot of TLs which you're attempting to weed out and also the test typically lets me that the trader know which one the market is respecting.

Of course an approach into the tL gets my attention, a fracture within an unfinished candle gets me activate finger an itching along with a close that's violated the trendline is sealing the deal.

Just wanted to add this for anyone wondering how the method to my madness on TLs. It is pretty simple, not much to it. I altered the chart to reveal what it'd look like while it was occurring compared to what it wound up at. It seems less evident in the first stages of the fracture, although some say how could I not find that and might look at it then.

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Nice system there smells like tom demark to me I only trade trend and trend breaks with demark indiors... (I have read the novels ) I use a mtf stoch and mtf momentum to validate the breakouts and I only use 4 hour.... Similar to your own body... I am also analyzing skunnys indior complimentary tading thread for incoporating fibs to the mixture....very trendy... anyway keep up the fantastic work!

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I'll post this shot of a trade long GBP trade I took this morning... I submitted it in a day trading thread, but believed it was appropriate here since there were a few articles with this morning's session on the GBP.

This was my first LeftBrainTradeing trade of sorts. As I've yet to recieve the book and know with what I'm seeing what I'm doing, I say of sorts.

But I can say that, I luv FIBOs, and the LBT information was lining up fine w/much of my TA therefore I dived in long only above the blue line in the screen shot below. I had set a TP of the DashDot green 38.2% information line that contrasts, in this circumstance, to the daily pivot data and the major tunnel ema. It was good for about 40 pips once the spread was taken out (all in presentation ).

NiceGuy777 reacted in another thread that it was a very good trade for not reading the book yet! Thanks NG: - )

I'm gonna have more fun with fibos once I read the book and get a handle on the version.

Http://www.accrete.com/fx_posts/misc...30m_1stlbt.png

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Could you explain this for me a bit, or am I going to have to await the book to arrive? Thank you SMJ