Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; My daily and 4 hour indicators are short However the last daily candle to close suggests rejection of lower prices ...

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Old Feb 13, 2013, 6:29am   #661
Joined Dec 2009
cable long

Leia started this thread My daily and 4 hour indicators are short
However the last daily candle to close suggests rejection of lower prices at this time, closing above the previous swing low on the daily time-frame and support offered from the monthly ascending trend-line from May 2010, June 2012

I have place an order long around 50% back into yesterdays daily candle @ 1.56 20 with a stop below at 1.57 70 (-50pips)
T1 = R1 = 50 pips @ 1.56 70
T2 = recent daily highs @ 1.58 00 (+180pips, R3)
T3 = trailing stop loss to potential 1. 63 00
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gbp-usd-long-daily-trigger.gif  
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Old Feb 13, 2013, 8:54am   #662
Joined Dec 2009
loonie short

Leia started this thread similar to the cable trade posted above USD CAD trend indicators are long on both daily and 4 hour time-frames
However the daily chart has posted two candles indicating rejection of higher prices at this time (close to strong weekly Support / Resistance level) so I have placed a counter trend order short about 50% of the way back into these daily candles, with my stop just above the most recent daily highs
Order short @ 1.00 60, stop @ 1.01 00 (-40pips risk)
T1 = R1 = +40pips = 1.00 20
T2 - recent low @ 0.99 40 (+120pips R=3)
T3 - trialing stop to 0.98 30 (+230pips, R=5)
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usd-cad-short-daily-trigger.gif  
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Old Feb 13, 2013, 10:55am   #663
Joined Dec 2009
Re: cable long

Leia started this thread
Quote:
Originally Posted by Leia View Post
My daily and 4 hour indicators are short
However the last daily candle to close suggests rejection of lower prices at this time, closing above the previous swing low on the daily time-frame and support offered from the monthly ascending trend-line from May 2010, June 2012

I have place an order long around 50% back into yesterdays daily candle @ 1.56 20 with a stop below at 1.57 70 (-50pips)
T1 = R1 = 50 pips @ 1.56 70
T2 = recent daily highs @ 1.58 00 (+180pips, R3)
T3 = trailing stop loss to potential 1. 63 00
Order opened and stop hit for full - 50 pips
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Old Feb 14, 2013, 1:18pm   #664
Joined Dec 2009
AUD USD short

Leia started this thread My indicators are short on both daily and 4 hour time frames
Price has retraced 50 / 61.8% of the previous 4 hour down swing and printed a candle indicating rejection of higher prices at this time on the 4 hour chart (shooting star type)
Confluent resistance with previous swing low on the daily time frame as well as potentially the third touch of a descending trend line on the daily time frame
I have placed an order to enter this pair short at 1.03 40 with a -40pip stop @ 1.03 80
T1 = R1 = +40pips @ 1.03 00
T2 = recent lows @ 1.02 50 (+90 pips R2)
T3 trailing stop to 1.01 50 (+190 pips R4)
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aud-usd-short-4h-trigger.gif  
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Old Feb 14, 2013, 1:22pm   #665
Joined Dec 2009
Re: AUD JPY long

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Quote:
Originally Posted by Leia View Post
2nd part stopped out for NIL
+200 pips on last part (trialing stop hit)
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Old Feb 14, 2013, 1:25pm   #666
Joined Dec 2009
Re: USD CHF long trigger

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Quote:
Originally Posted by Leia View Post
Stop hit on remaining parts
charts showing exit on trailing stop of short position and set up back long
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usd-chf-short-stop-hit-200pips.gif   usd-chf-long-daily-set-up-target-1-achieved-.gif  
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Old Feb 15, 2013, 4:13pm   #667
Joined Dec 2009
Re: AUD USD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have placed an order to enter this pair short at 1.03 40 with a -40pip stop @ 1.03 80
T1 = R1 = +40pips @ 1.03 00
T2 = recent lows @ 1.02 50 (+90 pips R2)
T3 trailing stop to 1.01 50 (+190 pips R4)
T1 achieved, stops to break even on remaining positions
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Old Feb 18, 2013, 10:06pm   #668
Joined Dec 2009
Re: loonie short

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Quote:
Originally Posted by Leia View Post
Order short @ 1.00 60, stop @ 1.01 00 (-40pips risk)
T1 = R1 = +40pips = 1.00 20
T2 - recent low @ 0.99 40 (+120pips R=3)
T3 - trialing stop to 0.98 30 (+230pips, R=5)
Stop hit for full 40pip loss
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Old Feb 25, 2013, 3:00pm   #669
Joined Dec 2009
Re: AUD USD short

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Quote:
Originally Posted by Leia View Post
T1 achieved, stops to break even on remaining positions
Stops hit for NIL @ 1.03 40
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Old Feb 25, 2013, 3:17pm   #670
Joined Dec 2009
Re: loonie short

Leia started this thread
Quote:
Originally Posted by Leia View Post
Stop hit for full 40pip loss
(chart added)
and this is why you must have and adhere to your stops
not all trades work out - this was 'wrong' @ 1.00 60, some 200pips ago, but 'only' cost me 40pips
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Old Feb 25, 2013, 3:28pm   #671
Joined Dec 2009
USD CHF long trigger

Leia started this thread follow on from post #654 (long at 0.90 65)
both of my indicators are long
price has been ranging on the daily chart and is presently on its up leg
price has retraced 50/61.8% of its last 4hour up swing move and printed a 'trigger' format candle shape indicating rejection of lower prices at this time
Order to enter long @ 0.92 80 with a stop just below the 4H candle low @ 0.92 30 (risk of -50pips)
T1=R1=+50pips @ 0.93 30
T2 = recent daily highs @ 0.94 80 (+100 pips R=2)
T3 = trailing stop or 0.97 80 which ever is achieved first
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Old Feb 25, 2013, 9:12pm   #672
Joined Dec 2009
Re: USD CHF long trigger

Leia started this thread
Quote:
Originally Posted by Leia View Post
Order to enter long @ 0.92 80 with a stop just below the 4H candle low @ 0.92 30 (risk of -50pips)
T1=R1=+50pips @ 0.93 30
T2 = recent daily highs @ 0.94 80 (+100 pips R=2)
T3 = trailing stop or 0.97 80 which ever is achieved first
T1 achieved and remaining stop to breakeven
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Old Feb 28, 2013, 6:16am   #673
Joined Dec 2009
Re: USD CHF long trigger

Leia started this thread
Quote:
Originally Posted by Leia View Post
T1 achieved and remaining stop to breakeven
stops hit for NIL, trade completely closed
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Old Feb 28, 2013, 7:04am   #674
Joined Dec 2009
GBP JPY long

Leia started this thread I am ignoring my trend indicators for this trade
Price has retraced from the recent highs and the last three daily candles have indicated rejection of lower prices at this time (because of their 'wicks' or 'tails' which record that although price has been pushed down, it has always recovered before the close of the trading day)
This 'support' level is approximately that of the previous swing low on the daily chart that had experienced a very significant up swing until the recent period of consolidation

My trade order is @ 139.95 with a stop at 137.80 (-215pips)
T1 = R1 = +215pips @ 142.10
T2 at first potential resistance @ 144.00 (+400pips. almost R2)
T3 trialing stop to recent swing high @ 147.80 (+785pips if seen)
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Old Feb 28, 2013, 8:08am   #675
Joined Dec 2009
EUR NZD short order

Leia started this thread daily indicator is short (4hour is flat)
price has retraced through (and rejected) 61.8% of the last 4 hour down swing and printed a daily candle indicating rejection of higher prices at this time

I have therefore placed an order to go short at 50% back into the 4 hour 'trigger' candle @ 1.58 80, with a stop above the high @ 1.59 40 (risk -60pips)
T1 = R1 = +60 pips @ 1.58 20
T2 = recent swing low @ 1.56 00 (+280pips, R4)
T3 = trailing stop to 1.54 50
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