Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; dir pair level (as last week) long EUR GOLD 1310 (YY) long GOLD 1560 short EUR NZD (YY) short EUR ...

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Old Jul 29, 2012, 10:37am   #451
Joined Dec 2009
watch list for week commencing July 30th

Leia started this thread dir pair level (as last week)
long EUR GOLD 1310 (YY)
long GOLD 1560
short EUR NZD (YY)
short EUR AUD (YY)
short GBP AUD 1.50 75 (Y)
short GBP NZD 1.96 10
long AUD JPY (Y)
long NZD JPY
long NZD CAD
long AUD CAD 1.04 70
long NZD CHF 0.78 40
long AUD CHF
short USD CAD (Y)
long NZD USD 0.79 60 (Y)
long GBP USD 1.56 00
short USD JPY 78.70 (Y)
long AUD USD 1.03 20 (Y)

I also noticed that despite the 4H chart trend changing to long, the EUR USD pair has retraced 50% of its previous daily time-frame down swing. A strong daily trigger short would be an attractive trade at these levels, despite the mis-alignment of the 4hourly trend indicators
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Old Jul 30, 2012, 9:17am   #452
Joined Dec 2009
USD JPY short order

Leia started this thread daily and 4hour trends are short
4h has retraced 61.8% of last down swing leg (week before last) and has met resistance there, at former support around 78.70
Although the price action trigger is not as obvious as I would wish, I have placed a sell order at 78.50 with a 20 pip stop at last weeks swing high with a target 1 of the recent daily low at 77.70 (reward +50) R=2.5, should the order open
I have placed half of the position size at the same entry and stop levels with a more ambitious target of the lows at 77.00 (reward +110 pips) R=5.5
Attached Thumbnails
usd-jpy-daily.gif   usd-jpy-4hour.gif  
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Old Jul 30, 2012, 11:20am   #453
Joined Dec 2009
Re: USD JPY short order

Leia started this thread
Quote:
Originally Posted by Leia View Post
daily and 4hour trends are short
4h has retraced 61.8% of last down swing leg (week before last) and has met resistance there, at former support around 78.70
Although the price action trigger is not as obvious as I would wish, I have placed a sell order at 78.50 with a 20 pip stop at last weeks swing high with a target 1 of the recent daily low at 77.70 (reward +50) R=2.5, should the order open
I have placed half of the position size at the same entry and stop levels with a more ambitious target of the lows at 77.00 (reward +110 pips) R=5.5
Price has been to 78.10, 40 pips away from my entry level, which is twice the distance from my entry level to my stop) I have therefore removed my order, as it has not been opened
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Old Aug 2, 2012, 7:17am   #454
Joined Dec 2009
eur GOLD and usd GOLD long

Leia started this thread both are long on my daily and 4H time frames and have retraced to around 50 / 61.8% of their previous 4hour up swings

usd has a better trigger candle, but both can be read as rejecting lower prices at this point in time (inside bar & 'hammer') on the 4H charts

I have placed long orders:
EUR GOLD 1306, stop 1295 (-11 pips), target 1340 (+34 pips) R=3
USD GOLD 1600, stop 1590 (-10pips), target 1640 (+40pips) R=4

should my orders be fulfilled and price then move in my favour by the same value as my risk then I'll bring my stop to break even
Attached Thumbnails
eut-gold-d.gif   eut-gold-4h.gif   gold-d.gif  

gold-4h.gif  
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Old Aug 3, 2012, 9:29am   #455
Joined Dec 2009
AUD USD short (counter trend)

Leia started this thread My daily and 4H trends are long

However the past three daily candles have indicated rejection of higher prices at this time, at a significant weekly time-frame swing high and daily ascending channel high

The four hour chart printed a strong 'shooting star' shaped candle after yesterdays ECB announcement, which I have used to place a sell order 50% back into it at
1.05 20 with a stop above at 1.05 80 (risk -60pips) and an initial target of 1.03 60 (reward 160) R=2.6. I have a secondary target of 1.03 00

I will trade this in my usual way, should the trade trigger and price move down to 1.04 60 (+60pips R1) I will move my stop to break even. I appreciate with NFP being announced this afternoon volatility will pick up and my trade may open and be stopped out in a matter of minutes, but that is always a trading risk, it will just happen more quickly if this particular set up is proven to be invalid!
Attached Thumbnails
aud-usd-d.gif   aud-usd-4h.gif  
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Old Aug 3, 2012, 10:08am   #456
Joined Dec 2009
AUD CAD long

Leia started this thread both daily and 4H trends are long

Price has retraced 50 of the last 4H up move and printed a trigger candle just above this weeks low (last weeks early resistance, perhaps turning to support)

I have placed and order with the trend (against the bold 4H counter trend trigger candle) just above the previous daily swing high (resistance turns to support, perhaps) at 1.05 20 with a stop just below the lows at 1.04 90 (risk -30 pips) with a target one of 1.06 20 (+100pips) R=3 and a second target of the weekly swing high at 1.07 20 (+200 pips)

comments as for the AUD USD counter trend, but a valid strategy trade never the less
Attached Thumbnails
aud-cad-d.gif   aud-cad-4h.gif  
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Old Aug 3, 2012, 5:29pm   #457
Joined Dec 2009
Re: AUD CAD long

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have placed and order with the trend (against the bold 4H counter trend trigger candle) just above the previous daily swing high (resistance turns to support, perhaps) at 1.05 20 with a stop just below the lows at 1.04 90 (risk -30 pips) with a target one of 1.06 20 (+100pips) R=3 and a second target of the weekly swing high at 1.07 20 (+200 pips)
Order opened, price has moved to 1.05 50 (+30pips) and in line with plan stops are at break even.
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Old Aug 3, 2012, 6:01pm   #458
Joined Dec 2009
Re: AUD USD short (counter trend)

Leia started this thread
Quote:
Originally Posted by Leia View Post
at 1.05 20 with a stop above at 1.05 80 (risk -60pips) and an initial target of 1.03 60 (reward 160) R=2.6. I have a secondary target of 1.03 00
Order has opened and is moving strongly up (with the trend, against my position) expect to be closed out for -60 pips imminently
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Old Aug 6, 2012, 8:41am   #459
Joined Dec 2009
AUD NZD & EUR CHF and GBPJPY

Leia started this thread Five charts have printed 4H trigger candles overnight (during the Asian session) with the daily and 4H trends, but against strong weekly candles

The antipodean currencies against the euro (and swissie). The GBPJPY pair has also printed a trigger candle

As there are so many, I am setting orders on them all at 50% my usual stake (since EUR and CHF are often a 'mirror' entering a half position on each usually equates to a full stake on just one). I am also very aware of the weekly candles indicating a reversal in the recent euro weakness, but these all match my trading plan and so I am going to take them

Orders placed at 50% re-tracement of the 4H 'trigger' candles
Long AUD CHF 1.02 28 stop 1.02 00 (risk 28) target 1.05 00 (reward 272) R=10
Long NZD CHF 79.22, stop 79.00 (risk 22) target 81.00 (reward 177) R= 8
Short EUR AUD 1.17 43, stop 1.17 75 (risk 33), target 1.16 00 (reward 142) R=4
Short EUR NZD 1.51 63, stop 1.52 05 (risk 43), target 1.49 75 (reward 187) R=4
Short GBP JPY 122 .93, stop 123.20 (risk 23), target 120.00 (reward 292) R=11
Attached Thumbnails
gbp-jpy-weekly.gif   gbp-jpy-d.gif   gbp-jpy-4hour-trigger.gif  

nzd-chf-d.gif   nzd-chf-4h-trigger.gif   aud-chf-4h-trigger.gif  

eur-aud-d.gif   eur-aud-4h-trigger.gif   eur-nzd-weelky.gif  

eur-nzd-d.gif   eur-nzd-4h-trigger.gif  
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Old Aug 10, 2012, 3:37pm   #460
Joined Dec 2009
AUD USD long

Leia started this thread The counter trend trade at the start of the week did not work out despite the daily chart still looking over stretched (along way from its moving averages and ascending trend-line, around previous resistance) I have placed an order with the trend based on the last two four hour bars which are indicating a reluctance of price accepting lower levels at this point in time (hammer type candle shapes) at around the 50 61.8% re-tracement level of this weeks up move on the four hourly chart

Order entry at 1.05 30 with a stop at 1.04 90 (risk -40 pips) and a target of the next daily resistance around 1.06 30 (reward +100 pips) R=2.5
Attached Thumbnails
aud-usd-daily.gif   aud-usd-4h-trigger.gif  
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