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10.2a Oct. 2012 Edition
https://www.stevehopwoodforex.com/phpBB3/viewtopic.php?t=861		 Page 18 of 34
Author:  cmeade2 [ Tue Oct 09, 2012 8:30 pm ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Interesting day today. Virtually nothing on 10.2a but lots of profitable opportunities with H1 and H4 variants of 10.2.
Author:  hilavoku [ Tue Oct 09, 2012 8:35 pm ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Yepp. Only have some pending orders (AUDCAD short; EURGBP long; GBPCHF short).
Author:  wBear [ Wed Oct 10, 2012 1:06 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
Here's a quick post (from my morning Breakfast time): Short AUDJPY ;)
Author:  gustav213 [ Wed Oct 10, 2012 1:24 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
10-9-2012 8-22-45 PM.png
Where are you shorting it? I would do it at the next Weekly Support around 79.38
Author:  wBear [ Wed Oct 10, 2012 2:05 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
gustav213 wrote: Where are you shorting it? I would do it at the next Weekly Support around 79.38
Hi Gustav213,
As WP is below MP, DP is below WP -- I'd short it about 10~15 pips below DP, TP around WS1 or H4 Support. There were quite a number of times I took a short (referring to other pairs) slightly below WS1 (or Long slightly above WR1), PA (price action) then reverses forcefully. I either end up having to hedge (get hedge wrong & basket becomes worse) or do recovery trades to close entire basket as I didn't want losing positions to eat up my margin as my account is a rather small one.

I'll watch for signs e.g. economic events for the day & currency slope strength to see where this goes. Great if price action follows through from DP to WS1 to WS2. But, I'm taking a chance with a small lot size to see where this goes ;)
Author:  gustav213 [ Wed Oct 10, 2012 2:37 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
wBear wrote:
gustav213 wrote: Where are you shorting it? I would do it at the next Weekly Support around 79.38
Hi Gustav213,
As WP is below MP, DP is below WP -- I'd short it about 10~15 pips below DP, TP around WS1 or H4 Support. There were quite a number of times I took a short (referring to other pairs) slightly below WS1 (or Long slightly above WR1), PA (price action) then reverses forcefully. I either end up having to hedge (get hedge wrong & basket becomes worse) or do recovery trades to close entire basket as I didn't want losing positions to eat up my margin as my account is a rather small one.

I'll watch for signs e.g. economic events for the day & currency slope strength to see where this goes. Great if price action follows through from DP to WS1 to WS2. But, I'm taking a chance with a small lot size to see where this goes ;)
Will you be waiting for the candle to close? Or will you enter now? I'm just trying to see what other traders look is on a trade. I do understand your point about WS1 that is why I was curious. Right now the TMA shows a good sign it might hit the next support line and that will bring in a nice 30 plus pips.
Author:  wBear [ Wed Oct 10, 2012 2:46 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
gustav213 wrote: Will you be waiting for the candle to close? Or will you enter now? I'm just trying to see what other traders look is on a trade. I do understand your point about WS1 that is why I was curious. Right now the TMA shows a good sign it might hit the next support line and that will bring in a nice 30 plus pips.
When PA retraced to DP area with a show of bear candle (at H1 chart) just now, I already took the trade. So now, I'm sitting on profit :D

Edit: P.S. By the way, AUDUSD seems to be doing quite the same thing ;)
Author:  gustav213 [ Wed Oct 10, 2012 2:57 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
wBear wrote:
gustav213 wrote: Will you be waiting for the candle to close? Or will you enter now? I'm just trying to see what other traders look is on a trade. I do understand your point about WS1 that is why I was curious. Right now the TMA shows a good sign it might hit the next support line and that will bring in a nice 30 plus pips.
When PA retraced to DP area with a show of bear candle (at H1 chart) just now, I already took the trade. So now, I'm sitting on profit :D

Edit: P.S. By the way, AUDUSD seems to be doing quite the same thing ;)
What time frame are you trading off?
Author:  wBear [ Wed Oct 10, 2012 3:04 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
gustav213 wrote:
wBear wrote:
gustav213 wrote: Will you be waiting for the candle to close? Or will you enter now? I'm just trying to see what other traders look is on a trade. I do understand your point about WS1 that is why I was curious. Right now the TMA shows a good sign it might hit the next support line and that will bring in a nice 30 plus pips.
When PA retraced to DP area with a show of bear candle (at H1 chart) just now, I already took the trade. So now, I'm sitting on profit :D

Edit: P.S. By the way, AUDUSD seems to be doing quite the same thing ;)
What time frame are you trading off?
Generally, H4 for initial trend reading. I use H1 for more precise entry & exit timing.
Author:  gustav213 [ Wed Oct 10, 2012 3:07 am ]
Post subject:  Re: 10.2a Oct. 2012 Edition
wBear wrote:
gustav213 wrote: Will you be waiting for the candle to close? Or will you enter now? I'm just trying to see what other traders look is on a trade. I do understand your point about WS1 that is why I was curious. Right now the TMA shows a good sign it might hit the next support line and that will bring in a nice 30 plus pips.
When PA retraced to DP area with a show of bear candle (at H1 chart) just now, I already took the trade. So now, I'm sitting on profit :D

Edit: P.S. By the way, AUDUSD seems to be doing quite the same thing ;)
What time frame are you trading off?[/quote]
Generally, H4 for initial trend reading. I use H1 for more precise entry & exit timing.[/quote]

Ohhhh ok, I was so confused when you said bear candle and I was looking at the 4H. Makes a lot more sense now. I will need to start confirming with 1H time frames for a try.
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