Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Originally Posted by Leia watching for price to enter the yellow box and price action on 4 hourly & or ...

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Old Feb 22, 2012, 7:29am   #361
Joined Dec 2009
Re: AUD CAD daily confluence

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Originally Posted by Leia View Post
watching for price to enter the yellow box and price action on 4 hourly & or daily time-frame indicating strong rejection of lower prices, providing an entry trigger back into uptrend to recent highs at 1.07 80
all time highs of 1 10 40 (Nov 96)
4 hourly inside bar
entry 1.06 35; stop 1.05 90 (risk= -45) target 1.07 80 (reward = 145) R = 3
cancel order / move stop to break even if price hits R = 1 @ 1. 06 80
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aud-cad-4h-set-up.gif  
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Old Feb 22, 2012, 7:39am   #362
Joined Dec 2009
aud usd long

Leia started this thread daily chart is long
price has retraced to last weeks low
price candles on 4 hour time-frame indicating rejection of lower levels, possible support of daily 20ema, ascending trend-line and previous swing low

order placed to enter long @ 1.06 55; stop 1. 06 05 (risk = - 50) target recent highs @ 1.08 05 (reward = 200 pips) R = 4

This order is not prefect because the four hourly trend is definitely down, conflicting with the potential daily set up. If price moves to 1.07 10, I will remove the order / move my stop to breakeven (which ever happens first)
Attached Thumbnails
daily-aud-usd-potential-1.06-00.gif   aud-usd-4h-set-up.gif  
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Old Feb 22, 2012, 3:39pm   #363
Joined Dec 2009
Re: aud usd long

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Originally Posted by Leia View Post
order placed to enter long @ 1.06 55; stop 1. 06 05 (risk = - 50) target recent highs @ 1.08 05 (reward = 200 pips) R = 4)
Order opened and Stop hit for -55 pips
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Old Feb 23, 2012, 10:36am   #364
Joined Dec 2009
eur gbp couter trend short

Leia started this thread Small risk (-15 pips) counter trend (daily and 4hourly trends are long) entry at previous Daily Support / Resistance level offered on last 1 hour candle
target is 0.84 00 (top of recent daily range - now potential support, but if this breaks we could see 0.82 60 (bottom of recent daily range)

Order to enter short 0.84 75, stop 0.84 90 (-15 pips) target .84 00 (+75 pips) R=5
long term target 0.82 60 (+215 pips)

If order is opened, stop quickly to break even if 0.84 60 is seen, because this is high risk (counter trend), but very small stop if order opened and trend counties upward
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eur-gbp-d-set-up.gif   eur-gbp-1h-trigger.gif  
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Old Feb 28, 2012, 4:12pm   #365
Joined Dec 2009
GBP USD 1H trigger

Leia started this thread convincing long tailed hammer shaped candle just closed on 1hour charts (also aud & eur)
daily and 4Hourly trends are long
possible indication that 4H ema acting as dynamic support and that previous daily resistance level may hold as support for a push through recent highs to next target

Order long set @ 1.58 30 with a stop 1.57 90 (-40 pips risk) with a target of 1.61 00 (reward +270 pips) R = over 6

If the order is opened, I will watch price action at recent highs (1.59 30) and move my stop up to try to lock in R = 2, whilst allowing potential break to the upside to run
Attached Thumbnails
gbp-usd-1h-trigger.gif   gbp-usd-daily-level.gif  
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Old Feb 29, 2012, 6:02am   #366
Joined Dec 2009
Re: GBP USD 1H trigger

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Order long set @ 1.58 30 with a stop 1.57 90 (-40 pips risk)
Order removed - price has moved +100 (1.59 30) without opening order
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Old Feb 29, 2012, 6:40am   #367
Joined Dec 2009
NZD USD 4H trigger + retrace

Leia started this thread Daily & 4H trends are long
4H printed a hammer -essque candle early in the week, which price is currently retracing to and may offer a second entry around the daily 20 ema (potential dynamic support{

Order long @ 0.83 50, stop 0.83 20 (risk -30pip) target .85 50 (+200 pips) R= 6
Attached Thumbnails
nzd-usd-daily.gif   nzd-usd-4h-set-up-double-bottom-.gif  
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Old Mar 1, 2012, 10:17am   #368
Joined Dec 2009
Re: NZD USD 4H trigger + retrace

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Originally Posted by Leia View Post
Order long @ 0.83 50, stop 0.83 20 (risk -30pip) target .85 50 (+200 pips) R= 6
The daily and 4hour charts are still long, however the daily chart printed a clear reversal candle yesterday, rejecting the previous supporting 'up' channel (diagonal support becomes resistance) also price has rejected this level and dropped in the past

Never the less, my strategy is to trade with the trend if I see a 'trigger' at a good level. Both the 1 hour and 4 hour charts have just printed trigger long (hammer) candles, so this will be an interesting battle between the trend price action traders and the support / resistance counter trend traders

Will cost me 30pips if I am in the wrong set this time
Attached Thumbnails
nzd-usd-daily.gif   nzd-usd-4h-set-up-double-bottom-.gif   nzd-usd-1h-set-up.gif  

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