Joey's MP Journal

This is a discussion on Joey's MP Journal within the Trading Journals forums, part of the Reception category; Great thread Joey, I learn a lot here, thanks. Nic...

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Old Mar 13, 2009, 10:03am   #211
 
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Great thread Joey, I learn a lot here, thanks.
Nic
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Old Mar 13, 2009, 10:06am   #212
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Great thread Joey, I learn a lot here, thanks.
Nic
Thanks Nic, very much appreciated - all live with decent stakes now!
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Old Mar 13, 2009, 4:34pm   #213
Joined Mar 2005
Joey25 started this thread Result of the EURUSD breakout trade from post #207

Bought @ 1.2875 on the 12th March
Sold @ 1.2862 on the 13th March

P/L = -13 pips.
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Old Mar 13, 2009, 6:55pm   #214
 
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Have look at AUDJPY (Daily)
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Audere est Facere

"The trend is your friend and divergences are your best friend until the bend at the end"

Party on like it's 1930, until Mr C (Wave) gatecrashes the party.
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Old Mar 13, 2009, 7:07pm   #215
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Originally Posted by fibonelli View Post
Have look at AUDJPY (Daily)
Haven't got that on either of my charting packages

Correction, got it on the spreadbet platform - yes that's the kind of pattern I'm after. Very difficult to use the spreadbet charts unfortunately.

Last edited by Joey25; Mar 13, 2009 at 7:13pm.
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Old Mar 14, 2009, 10:12am   #216
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Thoughts at the end of the week

Joey25 started this thread Apart from being upset at being stopped out prematurely on the EURUSD trade, otherwise a very productive week.

I'm using 4 setups:

1) For the S&P only, pullback and reverse from the mean (short side only)

The others are for currencies (long or short):

2) Breakout from balance, but with the proviso of a pullback first to add strength to the move.

3) Inside bar fakeouts, again adding momentum to the move as traders get caught offside.

4) Pin-bar retracements in the direction of the general trend.

Entries and targets I'm happy with, but stop trailing is the biggest headache.

Last edited by Joey25; Mar 14, 2009 at 10:20am.
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Old Mar 14, 2009, 11:36am   #217
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Cable channel

Joey25 started this thread After the excitement of Monday's breakout, GBPUSD spent the rest of the week testing the series of Daily Lows which had been broken.

It's now in quite a balanced state, with the top of the channel and the Weekly High coming in line early next week.

Also, that Weekly High of 1.4181 looks to be an important pivot level.
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Old Mar 14, 2009, 12:21pm   #218
Joined Mar 2009
you've given me great ideas joey, keep up the good work and good luck.
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Old Mar 14, 2009, 12:37pm   #219
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you've given me great ideas joey, keep up the good work and good luck.
Thanks miskec,

It's certainly helping me to improve. Up until Christmas I was just doing it in Microsoft Word and it just didn't work.

Good trading,
Joey
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Old Mar 17, 2009, 7:29am   #220
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USDCHF trade setup

Joey25 started this thread Bullish behaviour around the inside bar on the daily.

Flag formation on the H4.

Both would suggest that price had got ahead of itself, and now there is a platform forming for continued Swiss Franc weakness.
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Old Mar 18, 2009, 11:38am   #221
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AUDUSD trade setup

Joey25 started this thread As with several of the majors, yesterday saw an indecisive day ahead of today's FOMC interest rate decision.

On the Daily, an inside bar has formed, with the preceding outside bar pretty much in line with the next pivot level (confluence of historical support & resistance).

The current H4 chart looks to be providing an excellent "leg up" into the next stage of the uptrend.

Specifically: an inside bar, then a fakeout off the ascending trendline, and headed in the direction of the general trend.

Note: the current bar looks like it may be a pin. This is a bonus, but not necessary - rejection is the key.
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Last edited by Joey25; Mar 18, 2009 at 11:45am. Reason: (11.00am end of my H4)
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Old Mar 18, 2009, 4:11pm   #222
Joined Mar 2005
USDJPY (Rolling Spread)

Joey25 started this thread With regard to the setup in post #209:

Pin Retracement-Continuation trade

(13th March) Bought @ 98.57
(18th March) Sold @ 98.04

P/L = -0.53 (-53 pips)
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Old Mar 19, 2009, 9:48am   #223
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USDCAD (Rolling Spread)

Joey25 started this thread With regard to the setup in post #208,

Inside Bar Fakeout trade

(13th March) Sold @ 1.2718
(19th March) Bought @ 1.2419

P/L = +0.0299 (+299 pips)

This one bugged me from the start as I felt I had entered about 25 pips too late. However, learnt from the failed EURUSD trade (post #213) and managed the trade much better.

No other positions on at the moment (missed out on AUDUSD again!), but looking for a break of the 95.26 level in USDJPY.
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Old Mar 19, 2009, 11:38am   #224
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USDJPY trade setup

Joey25 started this thread Half an hour to go until the close of the H4 in USDJPY, but it looks like an inside bar formation with a failed attempt to rally above the 95.66 level.

This level was also the base of the large pin on the Daily chart, and was finally broken in the Overnight Session.

Could lead to a decent move down.
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Old Mar 20, 2009, 4:05pm   #225
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Originally Posted by Joey25 View Post
Half an hour to go until the close of the H4 in USDJPY, but it looks like an inside bar formation with a failed attempt to rally above the 95.66 level.

This level was also the base of the large pin on the Daily chart, and was finally broken in the Overnight Session.

Could lead to a decent move down.
The result for this one:

(19th March) Sold @ 95.22
(20th March) Bought @ 95.68

P/L = -0.46 (-46 pips)
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