Confusing Signals on the EUR/USD

[Eamonn Crawford]

Hi Joe

I'm a little confused here. According to you latest alert you recommend a buy on the EUR/USD if it breaks 1.3011. I bought at 1.3012 with TP1 at 1.3051. Approx 2 hours later I receive a RSS feed simply stating to sell EUR/USD. I did sell at 1.2915 with a 3 pip gain.

With this new signal what is the TP1 etc.

Update: Price has just shot up to 1.2930 and I am not in the trade. Please explain the SELL RSS signal.

PS.. I also recieved a one-line Buy RSS signal on the USD/CAD with no TP1 etc.

Regards

Eamonn....

[Michael]

Oh ... i didn't receive any of this.

My RSS is just empty, even though i updated to what i believe is the latest version (there is no version / relaease info in the application)

[sarath]

Last night I bought the EUR/USD at 1.3011 with a stop loss of 20 and TP1 of 50 and got stopped out.

This morning, the same thing happened

For the third time, I am trying the same - bought at 1.3011 with TP1 at 45 and TP2 90 (bought around 4PM Eastern) -

May be my TP levels are on the higher side . .will wait and watch

sarath

EUR/USD and GBP/USD

[Webster]

I did this last night. Per Monday alert.

If pair reverses again after going above 1.3030 --- Sell Break of 1.3000/1.2995 with TP1 at 1.2959

I entereded 7 sell orders in a live account over a few hours with a trailing stop and a profit target.
Each time I closed out a profitable trade I waited until the pair retraced up near the 1.3000 order again and entered a sell order.

I also folowed the usdchf and it was interesting to see how that pair did
essentailly the same thing as the eurusd but in reverse.

Webster

[ForexJoe]

The EUR/USD is inverse with USD/CHF

when Euro is going up

The Swissy should be going down

In normal markets


I placed the trade in Position Manger last night discussed in class

Before that previous two trades from last week are closed with profit taken

Thanks

Joe

[Ales]

Last night I bought the EUR/USD at 1.3011 with a stop loss of 20 and TP1 of 50 and got stopped out.

This morning, the same thing happened

For the third time, I am trying the same - bought at 1.3011 with TP1 at 45 and TP2 90 (bought around 4PM Eastern) -

May be my TP levels are on the higher side . .will wait and watch

sarath

EUR/USD and GBP/USD

Hi Sara,

Look at numbers Joe send us BIAS, KEY, M's, PIVOTs, which act as Support and Resistance and try to place your stop loss in the bellow the significant support area where you bought a pair. By setting stops this way you heavily increase your chances of staying in the game until your TP's are reached or pair reverses.

Hope this helps.
Ales

[sarath]

I know Joe's method so far is to follow the support/resistance/key/bias numbers as well as the various trend reports. They pay rich dividends! - thank you

Question - I am of the conventional type and still follow Stochastics to identify Overbought / Oversold levels; can the Stochastics be used in conjunction with Joe's methodology or they are not of prime importance any more

Just an update on my earlier posting - all the TP1 and TP2 and TP3 levels reached eventually!

sarath

EUR/USD

[ForexJoe]

sarath,


I want to encourage everyone to continue to use any and all tools to this point that enhances confidence in executing trades in LIVE current market conditions.

The tools provided are what I use to trade the markets.

There are many ways to generate positive pips and more tools that fit your specific trading personality allows for massive success.

Forex Joe

[sarath]

Placed some trades as follows

(1) After Tuesday's class bought EUR/USD both in practice as well as live account at 1.3011 with a small stop loss. Lost on the trade with a small loss due to the stop loss. My TP1 was on the higher side
(2) Second time the same happened due to the smaller stop loss number
(3) Third time lucky to get the same entry; but this time got my TP1 (50 pips) and TP2(75 pips) as I just had two lots
(4) Bought Wednesday after receiving an Alert at 1.3133 - One lot only and had a TP1 of 110 pips as wanted to set below the next higher key number. Got this as well due to the rate announcement
(5) Thursday bought after break of 1.3584 and set a TP of 75 pips. Achieved this
(6) One more trade at 1.3680 with a stop loss of 50 pips and TP1 of 60 pips - Lost this as the price dipped and went past 1.27
(7) Tried the same again at 1.3711 with a stop loss of 50 pips - lost this trade

Basically, I was using the key numbers (approx range) to trade and find that the higher you go, more the resistance. Quite interesting 2 days


sarath

EUR/USD

[sarath]

7.15 EST Friday

EUR/USD moving up also depends on USD/CHF moving down (as inverse pair).

USD/CHF key number is around 1.1233 (from one of the alerts recd) that also is around 200 SMA (1.1227) for USD/CHF on the daily chart

So far the USD/CHF is holding around this level. I have used the Key number and the 200 SMA in the practice regimen to try couple of trades . .

sarath

(EUR/USD)

[sarath]

Hello EUR/USD Traders

How do you think EUR/USD will move the coming week or the next few sessions. Please exchange your thoughts and also the rationale behind it. This is a fun way to learn and get trained

sarath

EUR/USD

[Rodrigo Mattos]

Forex Joe,

I would appreciate to help me in the understanding of the following fundamental questions:
1. CHANNELS. What is (are) the criterion (a) for the division of the channels in Breakout, Wide and Compressed? Are these divisions arbitrary? Is it possible that each one has his own criterion?
2. COMPRESSED CHANNEL: How do you find them? How do you do obtain them? What is its main use?
3. NUMBERS: What is (are) the difference(s) between KEY and BIAS numbers? How do you obtain the last ones?
4. It will be very important to know how you forecast the FX Market with such small and precise details. Is this a part of the course?

5. I would like to know where in the FORUM were posted the answers to my questions on STOP LOSS, RETRACEMENTS, etc. Is possible to have an outline what you and Sunil will be covering on it?

Thanks in advance. I am enjoying the course!.

[ForexJoe]

Rodrigo,

Just answered these questions in class Tuesday night in Q and A period

Blaine will edit and post soon, so listen for answers

Also much is covered in class Monday May 18, 2009 my friend.

Please review and let me know your thoughts

thanks for your effort

Forex Joe