Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Originally Posted by Leia Stop hit - trade close for NIL (BE) New Order placed, same initial entry and stop ...

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Old May 11, 2012, 3:03pm   #401
Joined Dec 2009
Re: USD CAD daily short

Leia started this thread
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Originally Posted by Leia View Post
Stop hit - trade close for NIL (BE)
New Order placed, same initial entry and stop
Opened, moved further into risk (-30 pips) before turning around and hitting R1 @ 0.99 75 so once more stop at break even to see what happens next
Attached Thumbnails
usd-cad-stop-breakeven-ii.gif   usd-cad-stop-breakeven.gif  
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Old May 21, 2012, 10:49am   #402
Joined Dec 2009
Re: USD CAD daily short

Leia started this thread
Quote:
Originally Posted by Leia View Post
New Order placed, same initial entry and stop
Opened, moved further into risk (-30 pips) before turning around and hitting R1 @ 0.99 75 so once more stop at break even to see what happens next
this trade also hit R1 (and very nearly in my favour by R2), I moved my stop to break even and got stopped out for break even again
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Old May 21, 2012, 11:02am   #403
Joined Dec 2009
GBP USD long (daily set up)

Leia started this thread my daily trend is long, but price is well below both moving averages and the 20ema has turned down, in time to cross the 50sma

my 4H trend is definitely short

However Fridays daily candle is of a 'hammer' type formation at previous support and could well indicate an over stretched market, offering a counter trend long trade back up to the moving averages and the previous support / resistance around the big 1.60 00 level

The range of Fridays candle is too large for me to risk, so I have placed a long order about half way back into Fridays range, with a stop below.
Entry 1.57 85, stop 1.57 30 (risk =55pips) target 1.60 00 (reward 215 pips) R=4

As always, should the order be met and price move in my favour, I will move my stop to break even at R1 (1.58 40)
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gbp-usd-daily-set-up.gif  
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Old May 22, 2012, 6:53am   #404
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Re: GBP USD long (daily set up)

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Quote:
Originally Posted by Leia View Post
Entry 1.57 85, stop 1.57 30 (risk =55pips) target 1.60 00 (reward 215 pips) R=4
- stop to break even at R1 (1.58 40)
My order was opened (by 8 pips!) lunch time yesterday and just made it to R1 @ 1.58 40 into the New York close last night. I have therefore moved my stop up to break even @ 1.57 85 this morning
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Old May 23, 2012, 5:54am   #405
Joined Dec 2009
Re: GBP USD long (daily set up)

Leia started this thread
Quote:
Originally Posted by Leia View Post
My order was opened (by 8 pips!) lunch time yesterday and just made it to R1 @ 1.58 40 into the New York close last night. I have therefore moved my stop up to break even @ 1.57 85 this morning
Stop hit - trade closed for NIL
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Old May 24, 2012, 11:31am   #406
Joined Dec 2009
EUR GBP short

Leia started this thread I placed an order short at the 'gap' from the market open two weeks ago also at 2008 resistance and 2010 support (ie looking to hold as resistance again)

it is with the monthly ,weekly and daily trend, but counter the 4H (trigger time-frame)

entry 0. 80 90, stop 0.81 20 (risk -30pips) target recent lows 0.79 50 (reward +140) R=4

however price broke down through my R1 level @ 0.80 60 before my order was triggered open so I have now cancelled it

Charts attached for my records
Attached Thumbnails
eur-gbp-monthly-support_resistance-level.gif   eur-gbp-4h-trigger.gif  
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Old May 24, 2012, 11:44am   #407
Joined Dec 2009
USD CHF counter terend short

Leia started this thread USD CHF has just reached weekly resistance levels at 2012 highs (set in January)
This also coincides with a 50 to 61.8% retracement on the last monthly down swing

It is a counter trend trade, as both my daily and 4 hourly trends are strong in the long direction

However I see potential for the over stretched market (price is a long distance fro its daily moving averages) to retrace from this very significant level

The 1H and 4H charts indicate short term rejection of higher prices and daily and 4H charts indicate a potential target zone with an attractive 'R'

I have placed a n order at todays lows, short to 61.8% retrace of the recent string daily up move, which is also the resistance last month (Aprils Highs)
Entry 0.95 30, stop 0.96 00 (R -70pips), target 0.92 50 (reward +280) R=4
Attached Thumbnails
usd-chf-monthly-confluence-.gif   usd-chf-weekly-resistance-level.gif   usd-chf-daily-target-counter-trend-.gif  

usd-chf-4-hourly-trigger-counter-trend-.gif   usd-chf-1-hourly-check-counter-trend-.gif  
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Old Jun 21, 2012, 10:39am   #408
Joined Dec 2009
USD CAD 4H short to 1.00 50?

Leia started this thread I'm intrigued to see if this multi time period screen shot post legibly

Although my daily trend is up, the 20ema is turning down and the last two daily candles have decidedly bearish traits
My 4H chart is indicating short (per the moving averages) and has printed a 'shooting star' type of formation indicating rejection of higher prices

I have placed an order at the 50% re-tracement of this 4hour candle to reduce my risk to 35pips and see a lot of space below to potential daily support (previous resistance) at 1.00 50 (a risk reward of over 4 times, should the trade plan work out)

The 4 hour time-frame 'trigger' chart is top left of my screen shot. the daily time-frame is top right, showing the 'space' price has to move down into
for reference I also show the weekly (bottom left) and monthly (bottom right) timescale studies, with obvious support and resistance levels marked (not that they have been used in any of the trade plan assessment described above)
Attached Thumbnails
usd-cad-short-1.00-50-r4-.gif  
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