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- finswin56 replied Jul 16, 2009
Since I have done nothing but take this evening, I will share the one setup I have for this last day of the week.
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- finswin56 replied Jul 16, 2009
Thank you, but I guess now I have to ask you my questions since you went through all this trouble.
Chart 1 I get. Chart 2: I definitely see the first confluence, but I don't see where the 2nd confluence comes from. If you are setting this trade ...Damion's Tribute
- finswin56 replied Jul 16, 2009
I haven't been a very active poster in the past, but this thread, and the people in it have inspired me. Thank you very much for sharing your thread with us.
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- finswin56 replied Jul 16, 2009
I have what is hopefully a simple question for you in regards to that last chart: If price were to exceed B and make a valid setup. I assume you would be setting a buy stop at the 1.27 Fib Extension. However, where would your original stop loss be ...
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- finswin56 replied Jul 16, 2009
Not yet. I have heard of it though. I've got quite a few things to read, but I will certainly take your word for it and give it a go. I originally placed my stop above that most recent high at the TL. It turns out that the trade has not worked, but ...
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- finswin56 replied Jul 16, 2009
I like the way you've used FE to show the potential reversal point. Looks like you nailed it almost to the pip. That reversal point also happens to be at the TL you had on your earlier charts of Sterling. At this point price has move too much for me ...
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- finswin56 replied Jul 16, 2009
Thanks for the positive feedback guys. I try to post live charts just to keep myself honest. I'm always curious about how other traders manage their trades. How do you guys manage your trades? Do you trail the stop? How quickly to you move it to ...
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- finswin56 replied Jul 15, 2009
LOL After seeing the convergence, I convinced myself to get in at a decent spot. The R:R is certainly worth it.
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- finswin56 replied Jul 15, 2009
Not ABCD, and not the good TL's in that we don't see HH's or LL's off the TL's. However, It's a pretty nice setup if you like ranges. I'm not taking this trade, but this could turn into one heck of a breakout. And I saw people complaining about this ...
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- finswin56 replied Jul 15, 2009
I can get over the volatility. I love this setup regardless of the pair. It's just one of those things I know I have to account for. As far as I'm concerned, this is one of those trades I can't pass up. Too much confluence with a very solid S/R ...
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- finswin56 replied Jul 15, 2009
That's what I'm trying to nail down. Normally I just put it a little above the most recent peak. Here that would be above 155.14. However, I hate the volatility of this pair and will probably scale down the pip size and put it above the previous ...
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- finswin56 replied Jul 15, 2009
Another one I'm stalking. Great former Support level with TL and Fib confluence. I really like this one.
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- finswin56 replied Jul 15, 2009
Is that a yellow TL (at least I think it's yellow... I'm color blind) that I see price is coming down to? If so, can you back the zoom out to the daily? I can't tell where that TL would have come from.
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- finswin56 replied Jul 15, 2009
Nice chart. I've also drawn in a former support TL that has been broken and is showing a confluence with the resistance TL you've got. That former S should now be R on the backside. Here's what I'm seeing from the Daily.
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- finswin56 replied Jul 14, 2009
Congrats Nimrod! Only 36 hours? You are hard core even checking on this thread! I have two kids and I wouldn't have been been able to think straight enough to look at this stuff. Go get some rest

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- finswin56 replied Jul 14, 2009
Thanks aftab. On your profit targets. Are the 61.8 and 78.6 using a Fib Extension tool, and the other two just the extended levels using Fib retracement tool?
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