Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; 1.2975 looks like a good place for a stop to me. Good luck Leia!...

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Old Dec 7, 2012, 3:43pm   #601
 
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Re: Seeking consistency

1.2975 looks like a good place for a stop to me. Good luck Leia!
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Old Dec 11, 2012, 11:21am   #602
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Re: EUR USD short (counter trend)

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Quote:
Originally Posted by Leia View Post
T2 hit (+190 pips) R=4
T3 (trailing stop) taken out @ 1.29 75 (+115 pips: R=3)

net risk 40*3 = -120pips
net reward +40, + 190 + 115 = +345pips. final R = 2.8
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Old Dec 11, 2012, 11:29am   #603
Joined Dec 2009
GBP CHF short

Leia started this thread daily trend is down (4H is up!)
price has however indicated on the 4H chart (price action candle formation is 'shooting star-esque') a rejection of higher prices at this time
the level co-insides with the last daily high, and may represent the beginning of a daily channel between 1.48 20 to 1.50 50

I have placed an order to short @ 1.49 85, stop 1.50 65 (risk -85pips), split into two parts
T1 @ R1 = 1.49 00
T2 = recent daily (channel) low 1.48 25 (R=1.7)
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gbp-chf-short-daily.gif   gbp-chf-short-4-h-trigger.gif  
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Old Dec 12, 2012, 7:33pm   #604
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Re: GBP CHF short

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Quote:
Originally Posted by Leia View Post
I have placed an order to short @ 1.49 85, stop 1.50 65 (risk -85pips), split into two parts
T1 @ R1 = 1.49 00
T2 = recent daily (channel) low 1.48 25 (R=1.7)
Order has opened and price has seen 1. 49 45 (+40)
The 4hour time-frame has a clear resistance level @ 1. 50 35, which I am moving my stop to, reducing my level of risk by 30 pips
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Old Dec 13, 2012, 11:07am   #605
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Re: GBP CHF short

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Quote:
Originally Posted by Leia View Post
Order has opened and price has seen 1. 49 45 (+40)
The 4hour time-frame has a clear resistance level @ 1. 50 35, which I am moving my stop to, reducing my level of risk by 30 pips
Price has moved to within 10pips of my initial target (1.49 10 +75pips) and then moved higher
To protect my capital I have moved my stop to breakeven @ 1.49 85, despite not quite achieving R1
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Old Dec 13, 2012, 11:34am   #606
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EUR AUD short

Leia started this thread daily and 4H indicators are short
price has retraced 50% of last weeks (4H) down move and the last two 4H candles indicate rejection of higher prices at this time (stuck between 20 an d50 ma's dynamic resistance, 50sma is acting as resistance)

I have therefore placed a sell order if price goes to 1.23 70, with a stop above these highs at 1.24 10 (risk 40pips)
My three targets are
T1 = R1 =+40pips @ 1.23 30
T2 = recent lows @ 1.22 85 (+85pips or R2, if seen)
T3 = trailing stop or 1.21 60 (first of these to be hit)
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Old Dec 13, 2012, 4:41pm   #607
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Re: GBP CHF short

Leia started this thread
Quote:
Originally Posted by Leia View Post
Price has moved to within 10pips of my initial target (1.49 10 +75pips) and then moved higher
To protect my capital I have moved my stop to breakeven @ 1.49 85, despite not quite achieving R1
Target 1 achieved (stop on second part already at breakeven)
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Old Dec 13, 2012, 5:06pm   #608
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Re: EUR AUD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have therefore placed a sell order if price goes to 1.23 70, with a stop above these highs at 1.24 10 (risk 40pips)
My three targets are
T1 = R1 =+40pips @ 1.23 30
T2 = recent lows @ 1.22 85 (+85pips or R2, if seen)
T3 = trailing stop or 1.21 60 (first of these to be hit)
order tiggered (just) and stop hit
-40pips on all three parts
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Old Dec 13, 2012, 6:27pm   #609
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Re: GBP CHF short

Leia started this thread
Quote:
Originally Posted by Leia View Post
Target 1 achieved (stop on second part already at breakeven)
Price has broken lower and whilst not a swing high, I see 1.49 60 as a robust 4H resistance level that I am moving my stop on my remaining position to (+25pips)
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Old Dec 14, 2012, 10:29am   #610
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Re: EUR AUD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
order triggered (just) and stop hit
-40pips on all three parts
Both my time-frame trend indicators remain short and the 4hourly chart has printed a number of consecutive bars indicating rejection of higher prices at this time
I have placed a new order to short this pair at 1.24 10 with a stop at 1.24 45 (risk 35pips) and three potential take profit targets of
R1 = +35pips @ 1.23 75
T2 @ 1.23 30 (+80pips = R2)
and a trialing stop on the third part

(although price has dipped below my entry level on the present 'live' 4 hour candle bar, this occurred before I placed my order, so at the moment I am not in this position)
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Old Dec 14, 2012, 12:43pm   #611
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Re: EUR AUD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have placed a new order to short this pair at 1.24 10 with a stop at 1.24 45 (risk 35pips) and three potential take profit targets of
R1 = +35pips @ 1.23 75
T2 @ 1.23 30 (+80pips = R2)
and a trialing stop on the third part
Pipped in and stopped out. This pair is obviously not going to turn around at this level after all!
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Old Dec 14, 2012, 4:27pm   #612
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Re: GBP CHF short

Leia started this thread
Quote:
Originally Posted by Leia View Post
Price has broken lower and whilst not a swing high, I see 1.49 60 as a robust 4H resistance level that I am moving my stop on my remaining position to (+25pips)
trailing stop to 4H swing high of 1.49 25, locking in 60pips on this second part of the trade
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Old Dec 15, 2012, 10:06am   #613
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Re: GBP CHF short

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have placed an order to short @ 1.49 85, stop 1.50 65 (risk -85pips), split into two parts
T1 @ R1 = 1.49 00
T2 = recent daily (channel) low 1.48 25 (R=1.7)
T2 achieved and both positions closed out.
Whilst not the best of risk:reward set ups (only 160 pips reward for -85 pips risk, which is less than R=2, further diluted as I took half the position off at R1, so its really (+160 +85) / 2 = 122 pips reward for 85 risk, R = 1.4) it was an obvious trigger on the daily chart at a confluent level and worth the low R
Further once triggered I very quickly reduced the risk (by moving the stop) to 1.50 40, risk of 55pips, making the 122 reward acceptable R=2)
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Old Dec 16, 2012, 11:29am   #614
Joined Dec 2009
watch list for week commencing December 17th

Leia started this thread 20 pairs are aligned on the 4 hour and daily time-frames this weekend. Due to the success of the EUR USD (post #595)and GPB CHF (post #603) counter trend trades, I am adding to some of the pair forecasts a 'level of interest' for counter trend trades too:
long EUR USD need 4h Sw Hi (CT @ 1.31 80)
long GBP USD need 4h Sw Hi (CT 1.61 80 / 1.62 16 / 1.63 00)
long AUD USD 1.05 20
long USD JPY 82.80
short USD CAD 0.98 75 / 0.99 00
long EUR GBP 0.80 95 (CT 0.81 50)
short EUR NZD (CT 1.55 30 (1.54 40) 1.58 00)
long EUR JPY 108.00
long EUR CAD need 4h Sw hi
short GBP CHF (CT 1.48 20)
short GBP NZD 1.92 15 / 1.93 50
long CAD JPY 83.80
long AUD JPY 87.80
long NZD JPY 69.60
long GPB JPY 133.00
long CHF JPY 89.40
long NZD CAD need 4h Sw Hi
short CAD CHF need 4h Sw Lo
long NZD CHF (CT 0.77 80 / 0.76 60)
short AUD NZD 1.25 60

all of the JPY pairs have strong trends, which if they retrace could provide a high number of different opportunities to join the overall trend (up)
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Old Jan 3, 2013, 2:31pm   #615
Joined Dec 2009
USD CHF long

Leia started this thread daily indicators are short, 4 hour long
price has reached a daily Support / Resistance level and printed a daily rejection candle (hammer formation)

Due to the size of this candle I have placed an order short at the 50% candle re-tracement level at 0.91 35, with a -65 risk stop loss at 0.90 70
three targets are R1 = +65pips@ 0.92 00
prev SR @ 0.93 80 (+245 pips, R=4)
trailig stop (or 0.95 00 if seen)
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