Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Originally Posted by Leia So, looking ahead, the following crosses are (at present) aligned in direction per my strategy and ...

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Old Aug 21, 2012, 11:21pm   #491
Joined Dec 2009
Re: 13 on my watch list for week commencing Aug 20th

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So, looking ahead, the following crosses are (at present) aligned in direction per my strategy and therefore candidates for 'trigger candles' on the daily or 4 hourly charts at some point next week:
long silver (but this is at the top of the present daily sideways range)
short EUR GBP (.78 80 / .80 00)
short EUR CAD (1.22 200) (but this is presently coming up off the all time low)
long GBP CHF (1.52 50) (almost duplicate of last week)
short GBP CAD (1.55 65) (as GPB CHF above)
long CAD JPY (79.65)
long AUD JPY (82.80)
long NZD JPY (63.80)
short NZD CAD (.80 20)
long CAD CHF (.98 20)
short EUR USD (1.23 50)
short USD CAD (.99 10)
long USD GBP (1.56 80)
Silver has continued higher today (without giving me trigger candle to enter a trade order) also gold and oil as well as the euro have printed bullish daily candles breaking the top of their summer ranges and holding above this previous resistance for the New York close
Conversely the indicies have not been able to close at their daily highs, having posted shooting star counter trade short signals

A lot of my watch list above have been negated today as the 4 hourly trend indicators have crossed over to be contrary to the daily indicators
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Old Aug 26, 2012, 11:18am   #492
Joined Dec 2009
GBP USD long (4h trigger)

Leia started this thread Daily and 4 hour trends are long
Price has printed a 4H 'trigger candle' at previous 4H resistance, perhaps now support
The candle has also closed above the 4H 20ema (red), which may be acting as dynamic support

It is not a very substantial re-tracement of the past up wave, but that may be due to the sudden very substantial change in risk sentiment during the past few days)
It is also the end of the week (going into a long weekend for the UK)
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Old Aug 26, 2012, 11:38am   #493
Joined Dec 2009
10 trending markets for week commencing August 27th

Leia started this thread I have reviewed my daily and 4 hourly charts and the following are aligned in trend direction (20ema and 50sma both going in the same direction and arranged in the same way on both time-frames)

I am therefore putting them into my 'watch list' for re-tracements against the dominant trend direction and printing of 'set up candles' which offer entry back into the main trend (close to the levels stated below), assuming a reasonable risk / reward ratio is available

short USD CHF 0.97 00
long EUR USD 1.24 50
long NZD USD 0.81 00
long GBP USD 1.57 50
short USD JPY 79.00
short AUD CAD 1.04 00
long GBP JPY 123.25
long EUR GOLD 1,314
long GOLD 1,630
long SILVER 29.90
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Old Aug 28, 2012, 7:26am   #494
Joined Dec 2009
Silver counter trend signal

Leia started this thread As posted I am watching for long triggers on the Silver market, as both my time-frame indicators are long

The silver chart has printed daily and a couple of 4 hour rejection of higher price candles (shooting star shaped)

This offers a risk/reward ratio of 3, which is acceptable, should price fall to around the level I would be interested in buying (going long)

I have placed a counter trend trade to enter the silver market short at 30.90 with a stop above yesterdays high at 31.25 (risk - 35pips) and a target of the previous weekly resistance at 29.90 (reward +100pips) R=3
Attached Thumbnails
silver-daily.gif   silver-4h.gif  
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Old Aug 28, 2012, 7:59am   #495
Joined Dec 2009
EUR USD 4H trigger long

Leia started this thread Both daily and 4 hour time-frame indicators are long

Price has retraced slightly into the previous 4H up swing and printed a trigger candle indicating rejection of lower prices at this time

I was looking for a pull back (to around 1.24 50), so this set up reasonably aligns with my weekly 'watch list'

Order placed at 1 .24 90 with a stop at the candle low of 1. 24 60 (risk -30pips) with an initial (half trade) target of the previous daily swing high at 1.25 80 (+ 90 pips) R = 3.
I have also a secondary target for the other half of the position at 1. 26 80 (+190pips)
(should both positions reach their targets, the reward equivalent is +140pips R=4.6)

As always, if this trade should be triggered open and move into profit by 30pips (the initial risk) to 1.25 20 I will move both stops to breakeven

If this market is truly in a string up-trend and hit my initial target, I will look for opportunities to add a further part position if price action provides suitable opportunity
Attached Thumbnails
eur-usd-daily.gif   eur-usd-4h-trigger.gif  
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Old Aug 28, 2012, 10:39am   #496
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Re: EUR USD 4H trigger long

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Originally Posted by Leia View Post
Order placed at 1 .24 90 with a stop at the candle low of 1. 24 60 (risk -30pips) with an initial (half trade) target of the previous daily swing high at 1.25 80 (+ 90 pips) R = 3.
I have also a secondary target for the other half of the position at 1. 26 80 (+190pips)
(should both positions reach their targets, the reward equivalent is +140pips R=4.6)

As always, if this trade should be triggered open and move into profit by 30pips (the initial risk) to 1.25 20 I will move both stops to breakeven
Trade opened and seen 1.25 20 (+30pips) so both stops to break-even
Attached Thumbnails
eur-usd-4h-.gif  
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Old Aug 30, 2012, 8:24am   #497
Joined Dec 2009
Re: Silver counter trend signal

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Quote:
Originally Posted by Leia View Post
I have placed a counter trend trade to enter the silver market short at 30.90 with a stop above yesterdays high at 31.25 (risk - 35pips) and a target of the previous weekly resistance at 29.90 (reward +100pips) R=3
Order has been triggered open and price has subsequently seen 30.54 (+36 pips) and so I have mover my stop to a breakeven position
Attached Thumbnails
silver-4h-stop-.gif  
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Old Aug 30, 2012, 8:32am   #498
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Re: EUR USD 4H trigger long

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Originally Posted by Leia View Post
Trade opened and seen 1.25 20 (+30pips) so both stops to break-even
Price just failed (6pips) to make target 1. I am moving my stop up to what appears to be support on the 4 hour time-frame, just below yesterdays low at 1.25 10 (+20 pips on both positions)
Attached Thumbnails
eur-usd-4h-trail-stop.gif  
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Old Aug 31, 2012, 8:50am   #499
Joined Dec 2009
Re: EUR USD 4H trigger long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Price just failed (6pips) to make target 1. I am moving my stop up to what appears to be support on the 4 hour time-frame, just below yesterdays low at 1.25 10 (+20 pips on both positions)
...and yes the stop has been hit, closing both parts for +20. The 'good' news is that had I not moved my stop up, I would have been taken out for NIL @ breakeven


I notice that I have an ascending trend-line (16-20 Aug, where 4hour trend 'crossed' to the up side) which co-insides with a 50% retrace of the whole of last weeks up swing around 1.24 40 (yellow box on chart attached), which may provide another support level for a potential long entry. Although I suspect if price does reach that level I will not be trading it because my 4 hour trend (moving averages) will be indicating lower prices (short trades)
Attached Thumbnails
eur-usd-4h-trail-stop-update.gif   eud-usd-long-out-t1-achieved-.gif  

Last edited by Leia; Aug 31, 2012 at 12:03pm. Reason: second chart added (when original target was hit!)
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Old Aug 31, 2012, 9:53am   #500
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GBP NZD short (counter trend)

Leia started this thread My daily and 4 hour indicators are long

Price has reached a significant (weekly) resistance level and has the potential to retrace over 100 pips without breaking the current uptrend

I suspect I have missed the opportunity now, but I have placed an order to sell at .98 00 with a stop above the last high of .98 40 (risk = 40) I have set 3 take profit levels, the first at R=1 (ie 40 pips) at .97 60, the second at the previous daily resistance (which may now act as support) which is also the 61.8% retrace level of the last 4H and daily up swing and the other has no take profit, as if price should move even lower, I will trail my stop behind the movement (and possibly add further positions to it)
Attached Thumbnails
gpb-nzd-weekly.gif   gpb-nzd-daily-1-.gif   gpb-nzd-daily-2-.gif  

gpb-nzd-4-hour.gif  
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