ozzy007
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« on: February 11, 2009, 06:37:27 PM » |
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I will short GBP/USD at 1.4350. Candle closed below tenkan-sen and also closed below kijun-sen. Pair is trading below the kumo. My stop loss is above the tenkan-sen at 1.4518.
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majorman4u2002
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« Reply #1 on: February 11, 2009, 10:24:22 PM » |
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ozzy007 , i think i would agree with you on the analysis because, the Leading Kumo is Bearish, Chikou span/Price: Bearish, Kumo/Price: Bearish, Kijun sen/Tenkan sen: Bullish but yesterday's candle closed below the the Kijun sen which shows to some extent the possibity of GBPUSD bearish. I have taken this trade and i set my stop loss at the value of Tekan sen (1.4518). I don't knw what any other person would think about this analysis. Thanks
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ozzy007
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« Reply #2 on: February 12, 2009, 07:52:35 AM » |
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The candle where the yellow arrow is pointing has a low of 1.4051. I will target TP close to that low at around 1.4050 or maybe a little higher....1.4075 maybe. I will keep on eye on it. Today the trade went as low as 1.4135.
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ozzy007
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« Reply #3 on: February 13, 2009, 10:49:34 AM » |
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I still have this trade open. The pound went up today as high as 1.6000 but has not closed above the ts or ks. So as long as it does not i am still in.
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Blaiserboy
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« Reply #4 on: February 16, 2009, 06:05:40 PM » |
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Looks like this one had positive pips.!!
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ozzy007
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« Reply #5 on: February 16, 2009, 07:19:58 PM » |
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Still in this trade. Pair is trading at around 1.4200 right now. Need a good break below 1.4184 then target 1.4082.
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« Last Edit: February 16, 2009, 07:32:43 PM by ozzy007 »
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ozzy007
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« Reply #6 on: February 18, 2009, 08:35:04 PM » |
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Pair trading has been trading in a range the last few days & is trading around 1.4270. I have drawn R & S using chinkou span. Upper R lies at 1.4363 & higher up at 1.4541 right about where the TS is at. Need a break below 1.4225 to then target 1.4030
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majorman4u2002
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« Reply #7 on: February 18, 2009, 08:58:12 PM » |
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Thanks alot Ozzy, please, i don't know if you understand any thing about the 1:2 Risk/Reward ratio. i don't know hw to identify a trade that have 1:2 risk/reward ratio. Any help from anybody please?
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ozzy007
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« Reply #8 on: February 19, 2009, 07:24:17 AM » |
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1:2 risk reward ratio means as an example you would be risking a 100 pip loss compared to a 200 pip gain. So for example lets say you think eur-usd is going up. You find a good support so you put a 100 pip loss because you think that support should hold & your stop loss should not hit. And you think the euro can go up as high as 200 pips because you identified a good up target. This would be 1:2 risk reward ratio trade.
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majorman4u2002
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« Reply #9 on: February 22, 2009, 09:52:01 PM » |
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Thanks everyone for the wonderful job. I would like to know your views about the entire forex market at the moment especially this last week of the month of February 2009. Which of the pairs do you think is trending at the moment. Because i have not been able to see a good trade at the moment. Please your opinion everyone, thanks
Ozzy, i sent you a private message, it's in your inbox on this forum, can you check please and reply me. Thanks
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majorman4u2002
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« Reply #10 on: February 23, 2009, 11:52:35 AM » |
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Good day everyone, i just found this trade on 4Hrs timeframe NZDJPY. I really think is ready to trend at least for a while. All ichimoku componenets are Bullish. So i will BUY,
Stop Loss @ 47.486
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sunman4008
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« Reply #11 on: February 23, 2009, 12:00:57 PM » |
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Hello,
Be careful of major resistance at 49.02
-Manesh
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majorman4u2002
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« Reply #12 on: February 23, 2009, 12:26:44 PM » |
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Thanks Manesh, i will be watching.
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majorman4u2002
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« Reply #13 on: February 23, 2009, 11:50:32 PM » |
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NZDJPY, i closed my position TP: 48.75
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ozzy007
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« Reply #14 on: February 24, 2009, 09:03:44 PM » |
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NZD/JPY on its way to 50.00. Getting close to some R. Majorman just watch your S&R using the kumo. If you want to go long but you see some major R then you might think twice about the trade. And vice versa with a short. You don't want to go short when you see a big kumo acting as a big support. This doesn't mean that trades cannot break through the kumo but the kumo tells you where there is S & R. And from there you can base your trades.  |
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