Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Which way from here Weekly trend is down (red 20ema below blue 50sma) and gap is widening price has rejected ...

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Old Feb 12, 2012, 11:15am   #351
Joined Dec 2009
EUR USD weekly setup

Leia started this thread Which way from here
Weekly trend is down (red 20ema below blue 50sma) and gap is widening
price has rejected dynamic resistance of red weekly 20ema ma trend line
price has retraced 38.2.% of its last weekly down wave
price is at a previous level of weekly support and resistance
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Old Feb 14, 2012, 11:04am   #352
Joined Dec 2009
eur usd 4H trigger long

Leia started this thread both daily and 4hour trends are up
price has retraced 61.8% of last weeks up move
a 4H candle has just printed indicating rejection of lower prices and support of the daily 20ema (red) dynamic resistance level
the daily chart has the beginnings of an upward channel formation
order to enter long @ 1.31 55 with a stop below the candle low 1. 31 25 (-30risk) target recent highs last week of 1.33 00 (245 reward) R=4.8
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eur-usd-daily-set-up.gif   eur-usd-4h-trigger.gif  
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Old Feb 14, 2012, 5:04pm   #353
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Re: eur usd 4H trigger long

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Originally Posted by Leia View Post
order to enter long @ 1.31 55 with a stop below the candle low 1. 31 25 (-30risk) target recent highs last week of 1.33 00 (245 reward) R=4.8
order removed when price reached 1.32 05 (+60pips or 2X risk)
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Old Feb 15, 2012, 10:15am   #354
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aud usd long

Leia started this thread daily timeframe long, 20ema holding as dynamic support around 1.07 25
4H timframe is indicating short (ma order), but has printed hammer shape candle indicating potential strength at daily 20ema
order placed with entry 1.07 75 (50pip risk) 1.07 25 stop and target at previous highs of 1.10 00 (225 pip reward) R=4
However if price action indicates this to be too ambitions a target, last week high of 1.08 40 gives +65, just over R=1
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aud-usd-d-set-up.gif   aud-usd-4h-trigger.gif  

Last edited by Leia; Feb 15, 2012 at 10:19am. Reason: inability to add up reward pips
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Old Feb 16, 2012, 5:39pm   #355
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Re: aud usd long

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Originally Posted by Leia View Post
order placed with entry 1.07 75 (50pip risk) 1.07 25 stop and target at previous highs of 1.10 00 (225 pip reward) R=4
Order has been opened and price has subsequently moved to 1.08 25 (+50). I have therefore moved my stop to breakeven and will decide on how to trail it depending on the price action if it reaches this weeks highs of 1.07 70
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Old Feb 17, 2012, 8:02am   #356
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Re: aud usd long

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Originally Posted by Leia View Post
depending on the price action if it reaches this weeks highs of 1.07 70
Decisive break and now retracing. 4H support looks to be 1.07 45, so I have moved stop up to 1.07 30 (locking in 55pips, 1 X risk)
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Old Feb 17, 2012, 8:35am   #357
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nzd usd daily setup long

Leia started this thread daily trend is up. 4H is ranging (ma's flat and frequently crossing)
last daily candle was 'hammer-like' indicating rejection of lower prices and that the D20ema is acting as dynamic support for price
I have placed an order long @ 50% of yesterdays candle, which I will cancel if this weeks highs are taken out
Order to open long @ .82 90 stop .82 40 (risk=-50pips) target Aug'11 highs .85 50 (reward=+260pips) R=5
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