Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Daily candle indicates rejection of lower prices at this time Daily and 4 hour indicators are all short, so this ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Jun 13, 2013, 10:16pm   #751
Joined Dec 2009
CAD JPY long. am I obsessed with this pair?

Leia started this thread Daily candle indicates rejection of lower prices at this time
Daily and 4 hour indicators are all short, so this is now a counter trend trade

I've placed an order to go long at 94.00 with a -100pip risk , stop@. 93.00
T1 = R1 @ 95.00
T2 @ recent highs 97.00 (R3, if seen)
Leia is offline   Reply With Quote
Old Jun 14, 2013, 8:22am   #752
Joined Dec 2009
Re: CAD JPY long. am I obsessed with this pair?

Leia started this thread
Quote:
Originally Posted by Leia View Post
Daily candle indicates rejection of lower prices at this time
Daily and 4 hour indicators are all short, so this is now a counter trend trade

I've placed an order to go long at 94.00 with a -100pip risk , stop@. 93.00
T1 = R1 @ 95.00
T2 @ recent highs 97.00 (R3, if seen)
Order opened and stop hit for full loss(both parts)
Leia is offline   Reply With Quote
Old Jun 21, 2013, 7:02am   #753
Joined Dec 2009
cable long

Leia started this thread My daily time-frame indicators are long
price has retraced to (almost) 50% of the previous daily up move and printed a daily candle formation that shows rejection of lower prices at this time, I also notice a previous daily resistance level, which may have become support

Ive therefore placed an order to go long 50% back into yesterdays daily candle @
1.54 65, with a stop at 1.54 10 (-55pips risk), I have two targets
T1 = R1 @ 1.55 20
T2 @ 1.57 00 (just beneath the recent daily highs)

I recognise that immediate term momentum is definitely to the short side, following the reaction to the Fed announcement. However yesterday failed to convince me that USD strength was the new dominant trend
Attached Thumbnails
cable-long-trigger.gif  
Leia is offline   Reply With Quote
Old Jun 21, 2013, 4:02pm   #754
Joined Dec 2009
Re: cable long

Leia started this thread
Quote:
Originally Posted by Leia View Post
1.54 65, with a stop at 1.54 10 (-55pips risk), I have two targets
T1 = R1 @ 1.55 20
T2 @ 1.57 00 (just beneath the recent daily highs)
Stop hit for full loss
Attached Thumbnails
cable-long-stop-hit.gif  
Leia is offline   Reply With Quote
Old Jun 24, 2013, 8:09am   #755
Joined Dec 2009
AUD USD short

Leia started this thread My daily & 4 hour indicators are short

Price has consolidated in a sideways channel on the 4 hour time-frame

I have placed a 'straddle' order short at the break of the range low, with a stop at the high of the range and targets of R1 & R2

Order entry 0.91 60, stop 0.92 60 (risk = -100pips)
T1 = R1 = +100pips @ 0.90 60
T2 = R2 = + 200pips @ 0.89 60

This is based on the break also demonstrating failure of a monthly time-frame ascending trend line and 61.8 & re-tracement of the last monthly up swing leg
Attached Thumbnails
aud-usd-short.gif  
Leia is offline   Reply With Quote
Old Jun 24, 2013, 4:50pm   #756
Joined Dec 2009
Re: AUD USD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
My daily & 4 hour indicators
Order entry 0.91 60, stop 0.92 60 (risk = -100pips)
T1 = R1 = +100pips @ 0.90 60
T2 = R2 = + 200pips @ 0.89 60
Stops hit on both parts for full loss
Leia is offline   Reply With Quote
Old Jun 24, 2013, 10:50pm   #757
 
SlowlyButSurely's Avatar
Joined Apr 2012
Re: cable long

Quote:
Originally Posted by Leia View Post
I recognise that immediate term momentum is definitely to the short side, following the reaction to the Fed announcement. However yesterday failed to convince me that USD strength was the new dominant trend
Hi, I would suggest always keeping fundamental news such as this in mind when taking longer time frames into consideration as I find that fundamentals start to play a big role.

I would say that the USD strength may continue for a while as its weakness was based on continued stimulus in the US. If the Fed begin to cut back on stimulus as the US economy improves and the ECB BOE and BOJ continue theirs then we could well see the trend continue.

Some may agree, some may argue, some may never use fundamentals or think it unimportant but this is my 2 cents and it has helped me thus far.

Cheers
__________________
"I simply cannot help making money. I will tell you my secret if you wish. It is this; I never buy at the bottom and I always sell too soon." - Baron N. Rothschild
SlowlyButSurely is offline   Reply With Quote
Old Jul 1, 2013, 2:40am   #758
Joined Aug 2012
Re: Seeking consistency

Definitely, keeping an eye on the fundamentals does prove beneficial (I am primarily a technician). Although often we lose track because of daily activities or market movements that tend to disrupt or confuse us.
FringFX is offline   Reply With Quote
Old Jul 3, 2013, 5:48pm   #759
Joined Dec 2009
usd jpy long trigger

Leia started this thread following yesterdays strong break and close above the psychological 100.00 I have been searching for a 'trigger' to enter this pair long

I have seen a 4 hour 'doji' type candle @ previous 4 hour support which has served my requirement

Its a 70pip risk with T1 @ R1 of 100.60 and T2 just below the year high @ 103.50 (R6)
Great risk reward ratio for T2, assuming this weeks big announcement (NFP) doesn't stop me out
Attached Thumbnails
usd-jpy-long-4h.png  
Leia is offline   Reply With Quote
Old Jul 5, 2013, 1:59pm   #760
Joined Dec 2009
Re: usd jpy long trigger

Leia started this thread
Quote:
Originally Posted by Leia View Post
Its a 70pip risk with T1 @ R1 of 100.60 and T2 just below the year high @ 103.50 (R6)
Great risk reward ratio for T2, assuming this weeks big announcement (NFP) doesn't stop me out
T1 achieved, stop to BE on remaining part (thanks NFP!)
Attached Thumbnails
usdjpy-stop-.png  
Leia is offline   Reply With Quote
Old Jul 6, 2013, 6:46am   #761
Joined Dec 2009
Re: AUD USD short

Leia started this thread
Quote:
Originally Posted by Leia View Post
Stops hit on both parts for full loss
chart missed from post
Attached Thumbnails
aud-usd-short-stop-hit.gif  
Leia is offline   Reply With Quote
Old Jul 10, 2013, 10:34am   #762
Joined Dec 2009
Re: usd jpy long trigger

Leia started this thread
Quote:
Originally Posted by Leia View Post
T1 achieved, stop to BE on remaining part (thanks NFP!)
Second part stopped out for NIL
Attached Thumbnails
usd-jpy-stop-hit-nil.png  
Leia is offline   Reply With Quote
Old Jul 12, 2013, 6:48am   #763
Joined Dec 2009
EUR USD short

Leia started this thread My daily trend is down, the 4 hour recently changed to up

On the daily time-frame, price has retraced (in the last two candles) to over 61.8% of the recent down swing

Against the immediate bullish momentum in this pair, I have placed an order short at 1.30 70 with a large (-140pip) stop at 1.32 10, which is just above the recent spike high

My targets are R1 @ 1.29 30 and
R2 back at the recent lows @ 1.27 80

I am using the 4 hour inside bar (circled in yellow) as my trigger, which is roughly half way back into the preceding 4 hour candle with the long tail / wick indicating rejection of higher prices at this time

Although it only took two trading days to move up to present levels, it took 12 to move down, so this trade may run for two or three weeks (even if it does work out)
Attached Thumbnails
eur-usd-short.png  
Leia is offline   Reply With Quote
Old Jul 15, 2013, 12:36pm   #764
Joined Dec 2009
Re: usd jpy long trigger

Leia started this thread
Quote:
Originally Posted by Leia View Post
Second part stopped out for NIL
New position taken

The daily time-frame and 4 hour indicators remains bearish. Counter to my indicators I remain bullish on this pair, based on the monthly and weekly time-frame charts

Price retraced to 98.20 last week, which was initially met with very strong buying interest, until the bearish sentiment was able to drive it back for a second test, or 'double bottom'
The 4-hour time-frame shows support (buying interest around 99.00) which I have used to place my stop on playing a break above the psychological 100 level. This is approximately 50% of the large 4 hour trigger candle (hammer) highlighted
Order to enter long @ 100.00, risk -120 pips to
stop @ 98.80
T1 = R1 = +120 pips @ 101.20
T2 = recent highs on daily time-frame @ 103.50 (+350 pips, R=3)
Attached Thumbnails
usd-jpy-long.png  
Leia is offline   Reply With Quote
Old Jul 15, 2013, 1:01pm   #765
Joined May 2013
Re: Seeking consistency

Once even i had tried this to keep an online journal so that i could show positive result, but only if this mindset happens strongly we can do it otherwise its a complete no.
Babyblush is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
Proof of consistency trading forex epic767 Forex 7 Jan 25, 2008 9:18pm
Question 3: Moderation fairness and Consistency barjon T2W Feedback & Announcements 27 Nov 28, 2005 11:46pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)