Review of Strategic Tips on Milking the Major Currency Pairs in Live Forex Trading

[forexgreenland]

[09:26:43] Stalion : price on the gbpusd looks like its retracing downward from last week's bullish run

[09:31:46] caprica1 : yeah its going towards the current overnight low

[09:38:04] Stalion : there's negative MACD divergence to price on the charts...we are looking for a convincing trendline

break to go short on gu

[09:54:07] Stalion : SELL STOP ON GBPUSD @ 1.7970, 1ST TARGET @ 1.7875, 2ND TARGET @ 1.7788

[09:59:54] Stalion : u can put a sell limit on our entry if you came in late or buy at current market price..

[10:02:40] eugen3000 : limit triggered

[10:02:44] eugen3000 : hi Stal

[10:04:20] Stalion : at what price, eugen?

[10:04:48] Stalion : price is at 1.7991 now

[10:05:25] eugen3000 : 7970 like you wrote

[10:06:49] Stalion : yea

[10:10:35] Stalion : lets sit back and relax, eugen....

[10:49:19] Stalion : LOCK HALF PROFITS AT +20 TO +30 PIPS,WHILE PUTTING STOP LOSS TO ENTRY

LEVEL..

[11:00:00] caprica1 : jot back Stal. Whats this about a sell stop?

[11:00:06] eugen3000 : did it

[forexgreenland]

[10:49:19] Stalion : LOCK HALF PROFITS AT +20 TO +30 PIPS,WHILE PUTTING STOP LOSS TO ENTRY

LEVEL..

[11:00:00] caprica1 : jot back Stal. Whats this about a sell stop?

[11:02:18] Stalion : more of a sell limit, cap..if you missed the original entry and hope for price to go up to ur entry before

reaching down...a sell stop is just following price downwards on its bearish move

[11:06:17] caprica1 : whcih chart did you look at to get the signal Stal? Was it one of the longer timeframes?

[11:08:51] Stalion : looks like a colourful beer carnival, eugen, the oktoberfest u guys are celebrating in

Germany.....though more mellow than the ones in the Rio de janeiro, Brazil..

[11:10:21] Stalion : we do what we call ''top down trading'', cap..first, the weekly and daily charts to get a general

overview..the hourly is to get the medium term overview..the 15 min chart is where you get a more precise view...while

the 5 min is for microscopic view

[11:11:20] Stalion : hi takbal, hope you've locked in half your profits by now...

[11:11:53] Stalion : we are +40 pips now..

[11:13:15] caprica1 : ok

[11:13:47] takbal : well I get on the train a bit late, so I put half lot only

[11:14:08] takbal : but looks like a healthy downtrend, so I risk it

[11:21:01] Stalion : sl moved to entry point,AFTER creaming off half profits

[11:23:33] caprica1 : I go in @ .7970 so I'm + 23 now.

[12:15:28] caprica1 : I'm +53 now Stal. Should I be moving my stop to Breakeven or +20?



[12:18:40] caprica1 : whoops thats 1st target hit

[12:24:12] caprica1 : its looking like a nice start to the week guys

[12:25:47] Stalion : you can say dat again, cap

[12:27:23] caprica1 : how much lower can it go, It's nearly at 2nd target now?

[12:47:22] eugen3000 : 1st and 2nd target hit, wooohoooo, ;-)



[12:48:43] caprica1 : yep!

[12:55:00] klho83 : Good start For the week!!!

[12:55:33] caprica1 : certainly is.

[12:55:51] takbal : was a nice call, thx Stal

[13:10:01] Stalion : 95 pips for 1st target, 182 pips total for 2nd target,$182 minilot,$1820 standard lot in less than 4hrs

[13:10:30] masif1 : another great call i missed today

[13:10:36] masif1 : just my luck

[13:11:17] Stalion : like I said earlier, we should be prepared to take any opportunity that the market gives us...which

doesnt happen everyday..

[13:14:46] Stalion : fine, we might get stopped out on one or two trades...but thats the price to pay for a long pip haul

like dis...

[13:17:08] Stalion : so we wrap up our trade today

[13:18:01] Stalion : hope 182 pips is okay for everyone?

[13:21:23] caprica1 : i'm happy with today Stal

[13:21:39] masif1 : well done guys

[forexgreenland]

Originally Posted by onwukarisa

Hello Mystikal,

Thanks alot. you answered my first question but you didnt answer the second. the question is :

How do you exactly know which part of the chart or graph that you have to choose as a 1-2-3 top or bottom before

applying your analysis and calculations. i have noticed that you select some parts and leave the others where i also think

that a 1-2-3 formation forms. If there are any conditions or factors you have to put into consideration before choosing for

a 1-2-3 top or bottom,please let me know.

Expecting a reply

Hi Onwuka,
We give glory to God for He is Great. To know which part of the chart or graph that you choose as a 1-2-3 bottom or

top requires practice and patience. We could say it hides from most traders that are not aware of its pattern on the

graphs and on the other hand, reveals itself regularly to some that are familiar with its occurence on the charts.
If you observe the Eurodollar(EURUSD) chart on the 15th of September, we could see the 1-2-3 top being numbered.
The 1 is always the swing high at the peak or apex...2 is an intermediate low and 3 is a lower high that failed to retest the

1 level(swing high).



At the break of the 2 level, it confirms the downward/ bearish movement of price and also validates the concept of the

1-2-3 top.
A 1-2-3 top is usually seen at the end of an uptrend, while a 1-2-3 bottom is usually seen at the end of a downtrend.
Hope you now understand...

Please feel free to ask questions or make comments...

Originally posted by zero:
IS FOREXGREENLAND POSTING THOSE TRADE CALLS
BEFORE OR AS HE MAKES THE TRADES OR IS HE
POSTING TRADES THAT HAVE ALREADY MYSTERIOUSLY
RUN THEIR COURSE?

CUZ POSTING TRADE CALLS AFTER THE FACT ISNT
VERY IMPRESSIVE AT ALL. I HOPE THAT IS NOT
WHAT YOU ARE DOING. CUZ I'LL BE ALL OVER YOU
LIKE STINK ON A TURD. MAY GOD HAVE MERCY ON
YOUR SOUL IF THATS YOUR GAME.

''Mysteriously run their course? What do you think this is, zero? A mystery moovie? Wake up and smell the roses without

stinking, mon ami...
Those participants you read on the chats are real live traders from different parts of the world who are serious about

making money in forex trading. They earn and learn while those trade calls are made,real time, online and the only game

they are interested in playing is forex.
Need I say more???
MAY THE GOOD LORD HAVE MERCY ON US ALL..

Originally posted by rodney:
The world financial system is in a mess with prospects of the global credit bubble bursting according to many

credible pundits. We will explore why bubbles form and why they burst from an Austrian Economics perspective. We

will also explore why cash and cash equivalent in times of deflation - yes, I said deflation - is your best asset hedge

against the bubble bursting. We will also cover specific trading ideas to win in this globalization 3.0 era, and how to

preserve capital and profit.Why will be the role of gold and silver ? T.Bonds? Dollar index, etc. Will the major and

regional banks in US lose $2 trillion in capital as forecast by a famous NYU Economist?

_____________
rodney

Foreclosed Homes

Hi Rodney, we'd be glad to have your constructive theories on the global economic dynamics that is happening right

now...
But dont you think holding cash or its equivalent might not really be an hedge coz of its declining

value(depreciation)against market forces?
And how does the Austrian Economic perspective on cyclical trends(bubbles and bursts) fit in with the much larger EU

perspective of the same phenoma?

[forexgreenland]

[08:26:37 19/09/08] caprica1 : morning everyone

[08:52:25 19/09/08] klho83 : Hi Cap good morning

[08:56:25 19/09/08] klho83 : Stopped a few times yesterday. hope have a better luck today)

[08:59:15 19/09/08] caprica1 : well its a friday, its started pretty slow. We'll see what happens

[09:06:15 19/09/08] Stalion : hi everyone

[09:12:05 19/09/08] Stalion : we saw what happened yesterday, guys...price eventually got to our targets but with some

nasty retracements in the way...


[09:15:55 19/09/08] caprica1 : its been a rough few weeks though on the markets

[09:17:17 19/09/08] klho83 : Hi Stal Gu coming to 61.8% ret.level

[09:22:34 19/09/08] Stalion : lol....the market knows it going to drop some serious pips..thats why the awkward

retracements to shake off stops and limits..

[09:25:10 19/09/08] masif1 : i think the usd is weakening

[09:25:21 19/09/08] masif1 : going short everywhere

[09:26:02 19/09/08] masif1 : eurus gbus and uschf

[09:26:12 19/09/08] masif1 : can u see that stal

[09:28:55 19/09/08] Stalion : any upcoming news on GBP?

[09:29:16 19/09/08] caprica1 : not sure

[09:33:59 19/09/08] eugen3000 : morning guys

[09:34:21 19/09/08] eugen3000 : Stal, the trend line from 1.7446 is not yet broken to the downside right?

[09:34:24 19/09/08] Stalion : the currency markets is still digesting all the bad news coming out from the US financial

markets..bailouts today, bankruptcy 2morow...any wonder d charts are reflecting these signs of the times..

[09:44:25 19/09/08] Stalion : 1.7446, eugen?i think dats like 500 pips below market price?

[09:48:23 19/09/08] eugen3000 : i mean the trendline this was the lowest price and i see a trendline going up and hold for

few times

[09:53:30 19/09/08] eugen3000 : i am the only one seeing this? lol

[09:58:11 19/09/08] Stalion : lol....what chart are u looking at,eugen?

[10:01:33 19/09/08] eugen3000 : im at work im just using the one from mb trading

[10:01:49 19/09/08] eugen3000 : i saw that price bounced of this trendline a few times

[10:02:53 19/09/08] Stalion : looks like the news didnt make much impact..

[10:19:04 19/09/08] Stalion : at what timeframe, eugen?

[10:24:30 19/09/08] eugen3000 : 1hr

[10:26:20 19/09/08] Stalion : ohh, av seen it...dat was the low on sept 11,right?

[10:27:13 19/09/08] Stalion : did anyone reenter the gu short again?.

[10:46:48 19/09/08] eugen3000 : stal do you have some key levels for gu? up and down levels? thnx

[10:58:59 19/09/08] Stalion : we also put a buy stop on gu at 1.7997, 1st target on the upside is 1.8055..dat would act

as an hedge

[11:33:20 19/09/08] Stalion : anyone using fib retracements here?

[11:34:37 19/09/08] masif1 : nope

[11:35:58 19/09/08] Stalion : i think it might be wise if its been used...those retracements dat tends to stop out

trades,which sometimes are based on fibonnacci

[11:37:40 19/09/08] Stalion : right now, price is on the 61% retracement level, and dat level tends to portend a

turnaround in price in any charts..

[11:56:17 19/09/08] takbal : I do use fib retracements

[11:59:44 19/09/08] Stalion : cool, takbal...out of several support and resistance tools in trading, fibbonacci is one of the

best out there...

[12:00:16 19/09/08] Stalion : looks like the turnaround is right round the corner,guys...

[12:01:47 19/09/08] Stalion : buy stop trigger hit...

[12:02:56 19/09/08] Stalion : remember 1st target to the upside is 1.8055..

[12:05:53 19/09/08] Stalion : 33 pips profits right now...lock in ur profits right now, guys, and shift sl to entry level..

[12:09:53 19/09/08] eugen3000 : 40 pips im happy, thnx Stal

[12:10:16 19/09/08] Stalion : 20 pips to go in hitting 1st target of 1.8055...2nd target for our long gu trade is 1.8073...

[12:12:05 19/09/08] Stalion : dat was jus the practical application of the 60% buy window..

[12:13:33 19/09/08] Stalion : price is now retracing back to the 50% level...

[12:14:38 19/09/08] takbal : looks like a DeMark breakout...

[12:15:12 19/09/08] takbal : at least the upward move stopped exactly at the predicted target

[12:17:53 19/09/08] Stalion : what TIMEFRAME are u looking at,takbal?

[12:18:15 19/09/08] takbal : 5 mins

[12:18:28 19/09/08] takbal : well, the upper trendline is a more plausible explanation...

[12:19:57 19/09/08] Stalion : i could see a mini 123 bottom in the 5 min chart before price broke out..

[12:21:04 19/09/08] Stalion : it paused at 1.8040, which was a round number and a pyschological one too,before going

back south to the 50th percent level..

[12:25:41 19/09/08] takbal : I see the 123 but not sure about it will pass that trendline around 18030-40... it looks quite

strong

[12:29:22 19/09/08] Stalion : depends on the bullish momentum, takbal...if you open ur MACD indicator on the 5 min

chart, you can see MACD making higher highs and price on top making lower lows based on the resistance

trendline..thats shows divergence..we are seeing MACD positive divergence to price which foretells a bullish

move,technical analysiswise..

[12:30:37 19/09/08] Stalion : resistance trendline about to be broken..

[12:40:05 19/09/08] masif1 : hi stal locked in 30 pips at half lot

[12:41:51 19/09/08] takbal : but MACD already did its higher high... ho do you know that it wont retrace now, and

cross the trendline?

[12:43:26 19/09/08] takbal : if price falls now, we are still in divergence, but the trendline is unbroken... it may be broken

at the next test

[12:56:35 19/09/08] klho83 : hi

[12:58:25 19/09/08] caprica1 : hi guys just got in front of the PC and seen the trade. mine is

[12:59:05 19/09/08] caprica1 : at +26 pips as of now. I must have missed the earlier high.

[12:59:34 19/09/08] Stalion : lol....welcome to the show,cap

[13:00:28 19/09/08] klho83 : Every should provide dat..then we would learn fast..:0

[13:01:15 19/09/08] caprica1 : thank you. It's at +39 now. I'm only trading witha lot size of 0.1 though.

[13:01:52 19/09/08] klho83 : Wat is the next target stal?

[13:02:16 19/09/08] caprica1 : correction make that+58. What should I do based on my lot size STal?



[13:02:34 19/09/08] klho83 : Ist target hit

[13:03:34 19/09/08] caprica1 : hit 2nd target and closed out at +73

[13:03:52 19/09/08] takbal : 8072 is daily support

[13:04:49 19/09/08] Stalion : 2nd target coming up

[13:05:31 19/09/08] eugen3000 : 3rd target Stal??? ;-)

[13:05:54 19/09/08] Stalion : 2nd target is at 1.8130...3rd target @ 1.8198

[13:07:39 19/09/08] Stalion : if ur not in from our first entry, pls consider ur risk to reward ratios before jumping for 2nd

and 3rd targets...

[13:08:28 19/09/08] Stalion : dose dat were in right from the start would be using up their remaing half lots now, while

adjusting stop loss to entry

[13:09:08 19/09/08] caprica1 : thought the 2nd target was 1.8055 and 3rd was 1.8073?

[13:09:15 19/09/08] Stalion : hold on to ur seatbelts, fellas...we might be in for a lil ride..

[13:09:41 19/09/08] caprica1 : a lil ride in what sense Stal?

[13:10:15 19/09/08] Stalion : sorry..typo....2nd target 18073...3rd target 18130...4th target 18198

[13:11:20 19/09/08] Stalion : jus put in a 15 to 25 pip trailing stop wen we get to 2nd target...

[13:12:12 19/09/08] caprica1 : I got back in at the second target of 1.8073.

[13:13:13 19/09/08] Stalion : or adjust sl 20 pips above original entry...which ever feels best for you..

[13:19:09 19/09/08] caprica1 : Like I said though I made the 73 pips on the first 2 targets. Didn't get the 3rd or 4th ones

in time. I re-entered at the 2nd target price of 1.8073.

[13:19:22 19/09/08] caprica1 : What should I place my stop as?

[13:23:36 19/09/08] caprica1 : 1've put the stop @ the original entry point of 1.7997

[13:26:02 19/09/08] Stalion : okay....hope you guys see the reasoning behind locking profits...price has just hit resistance

at the 1.8073 level and retracing downwards..

[13:26:38 19/09/08] Stalion : no use watching profits disappear if u can lock em in..

[13:28:15 19/09/08] klho83 : I'm out at 1.8070. Thanks stal.n have a nice weekend all.

[13:28:54 19/09/08] caprica1 : you too klho

[13:28:57 19/09/08] eugen3000 : lock in lock in lock in ;-)

[13:34:08 19/09/08] caprica1 : you still in the trade eugen?

[13:37:21 19/09/08] caprica1 : it's flying again

[13:37:29 19/09/08] eugen3000 : no i closed half at +20, the rest by 8073, im flat

[13:37:43 19/09/08] eugen3000 : good luck cap

[13:39:30 19/09/08] caprica1 : I'm in a EJ trade that I spotted this morning on a 123 bottom. that one is currently +70

pips

[13:40:11 19/09/08] takbal : are we some kind of fighter pilots?

[13:40:31 19/09/08] takbal : Fox 3

[13:41:16 19/09/08] caprica1 : locked on! lol

[13:54:53 19/09/08] caprica1 : looking like another nice end to the week

[13:57:57 19/09/08] Stalion : 3rd target hit!!



[13:59:05 19/09/08] Stalion : 4th target @ 18198....

[14:01:48 19/09/08] caprica1 : I've moved my stop to entry and closed out 50% of my lot size now on the re-entry that I

had.

[14:02:01 19/09/08] Stalion : 5th target @ 1.8230

[14:02:56 19/09/08] caprica1 : 5th target! Oh man, I'm loving this Friday lol

[14:08:52 19/09/08] caprica1 : I'm well happy at that. I dont't expect that every time, but it's a nice start, and shows me

I'm on the right track.

[14:12:10 19/09/08] Stalion : more than 137 pips made up from our 2nd target of 1.8130...and still counting..

[14:12:38 19/09/08] caprica1 : It was taken off the 1HR chart. Was expecting it to be a few days worth of a trade, but

it's moved quicker than I thought.

[14:14:28 19/09/08] Stalion : congrats, cap...pls keep it up..

[14:14:35 19/09/08] caprica1 : I would agree. Over 400 pips from a very choppy week.

[14:25:42 19/09/08] Stalion : 4th target hit!

[14:25:51 19/09/08] caprica1 : just hit 4th target

[14:25:56 19/09/08] Stalion : [14:02:01] Stalion : 5th target @ 1.8230

[14:26:24 19/09/08] Stalion : 5th target hit!!



[14:26:42 19/09/08] caprica1 : where should I move my stop to now Stal? It's currently at b/e, and I have closed out half

my lot

[14:26:47 19/09/08] Stalion : 1.8271 as our 6th target

[14:27:05 19/09/08] caprica1 : never mind5 targets hit. Man oh man!!!!!

[14:27:22 19/09/08] Stalion : jus put a 25 pip trailing stop loss and you'll be fine like dandy

[14:27:30 19/09/08] caprica1 : I'm out now. Not gonna chance getting back in a 2nd time

[14:28:10 19/09/08] Stalion : dats what am doing...jus watching price move and locking my profits..

[14:28:55 19/09/08] caprica1 : I'd hit 5th target before the 6th was posted.

[14:29:06 19/09/08] caprica1 : Am still a happy little bunny though.

[14:29:37 19/09/08] caprica1 : I've almost hit my target of 155.00 for EJ. That would be 300 pips for that trade alone.

[14:30:19 19/09/08] caprica1 : woohoo, just hit it.

[14:32:12 19/09/08] Stalion : lol

[14:33:07 19/09/08] caprica1 : if only you could see me now! Feel like walking out of work, and going home a happy

man.

[15:53:22 19/09/08] masif1 : hi all

[15:53:48 19/09/08] masif1 : well done cap

[15:54:05 19/09/08] masif1 : 300 pips excellent

[16:27:18 19/09/08] masif1 : over 270 pips and still going up

[16:27:33 19/09/08] masif1 : the 25pip trailing stop loss is a good idea

[16:29:10 19/09/08] caprica1 : yeah I know. It's a lesson learnt for next time

[forexgreenland]

Sell stop on GBPUSD @ 1.8321...1st target @ 1.8275,2nd target @ 1.8245, 3rd target @ 1.8207