Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Only 9 of the FX pairs I look at are aligned in the same direction on the daily and 4 ...

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Old Sep 29, 2012, 5:30pm   #541
Joined Dec 2009
watch list for week commencing October 1st

Leia started this thread Only 9 of the FX pairs I look at are aligned in the same direction on the daily and 4 hour time frames at the present time
I have therefore enhanced the format of this forecast post to include the level at which I am watching for price action to print a 'trigger candle', the level at which I would doubt the direction 'indicated' by my two time frame moving averages and the three potential target areas I would split any trade entry into
If that is a bit confusing, hopefully the list below will clarify:

short AUD USD 1.04 20 (1.05 20) 1.03 30, 1.01 70, 1.00 70
long NZD USD 82 60 ( 81 75) 83 50, 84 75, 85 70
long GOLD 1750 ( 1735) 1784, 1790, 2000
long GBP CAD 1.58 70 (1.58 40) 1.59 80, 1.60 60, 1.62 00
long GBP AUD 1.55 50 (1.54 60) 1.56 30, 1.57 20, 1.59 00
short AUD JPY 81.10 ( 81.50) 80.25, 79.50, 78.50
long NZD CAD 81 00 ( 80 20) 82 10, 82 70, 84 00
short CAD CHF 97 75 ( 96 20) 94 70, 93 70, 92 20
short AUD NZD need to wait for a swing low to form on the 4 hour chart, before being able to draw a fib re-tracement to set a 50/61.8% pull back and former support level that may act as resistance on the 4 hour time frame to be able to calculate a potential 'area of interest'
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Old Oct 1, 2012, 9:22am   #542
Joined Dec 2009
Re: GBP USD counter trend (short )

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Quote:
Originally Posted by Leia View Post
I am not prepared to let a trade which has moved +93pips in my direction close out as a loser, but am OK if I get stopped out for NIL over the weekend
Unbelievable luck, price touched 1.61 08 overnight in the Asian session thus closing out part 1 of this trade and validating my move of all of the positions stops to breakeven, in anticipation of price achieving R1
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Old Oct 1, 2012, 10:00am   #543
Joined Dec 2009
nzd usd long

Leia started this thread daily & 4 hour long
price retraced into last weeks 4H up move & found 'dynamic' support from 4H 20ema

recent highs tested many times and printed daily rejection of higher prices candles, looking for at least another test, to achieve part 1 profit and potential break through this time

stop to breakeven at .83 05 (should order be triggered)

order long @ .82 85 stop @ 82 65 (risk -20pips), three targets
target 1 .83 50
target 2 .84 75
target 3 .85 70

as R1 is .83 05, before all targets, I will trail stop behind any 4 h swing lows until stops are taken out or targets achieved
Attached Thumbnails
nzd-usd-daily.gif   nzd-usd-4-hour.gif  
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Old Oct 5, 2012, 2:10pm   #544
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Re: nzd usd long

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Quote:
Originally Posted by Leia View Post
order long @ .82 85 stop @ 82 65 (risk -20pips), three targets
target 1 .83 50
target 2 .84 75
target 3 .85 70

as R1 is .83 05, before all targets, I will trail stop behind any 4 h swing lows until stops are taken out or targets achieved
trade opened but I missed opportunity to move stops when price reached .83 20 (+35) and all 3 positions were closed out for -20
Attached Thumbnails
nzd-usd-4-hour.gif  
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Old Oct 5, 2012, 2:52pm   #545
Joined Dec 2009
Re: GBP USD counter trend (short )

Leia started this thread
Quote:
Originally Posted by Leia View Post
Unbelievable luck, price touched 1.61 08 overnight in the Asian session thus closing out part 1 of this trade and validating my move of all of the positions stops to breakeven, in anticipation of price achieving R1
stop hit (for NIL) on second two positions
Attached Thumbnails
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Old Oct 8, 2012, 10:25am   #546
Joined Dec 2009
Re: watch list for week commencing October 1st

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Quote:
Originally Posted by Leia View Post
:

short AUD USD 1.04 20 (1.05 20) 1.03 30, 1.01 70, 1.00 70
trigger at 1.04 00 stop 1.03 50, price saw 1.01 75
long NZD USD 82 60 ( 81 75) 83 50, 84 75, 85 70
trigger at .82 85 stop .82 65 saw .83 35
long GOLD 1750 ( 1735) 1784, 1790, 2000
trigger at 1770, stop 1760 saw 1795
long GBP CAD 1.58 70 (1.58 40) 1.59 80, 1.60 60, 1.62 00
trigger 1.58 75 stop 1.58 25 price didn't make R1, so loser
long GBP AUD 1.55 50 (1.54 60) 1.56 30, 1.57 20, 1.59 00
trigger 1.55 75 atop 1. 55 30, price didn't make R1, so loser
short AUD JPY 81.10 ( 81.50) 80.25, 79.50, 78.50
trigger 81 25 stop 81.70, saw 79.80
long NZD CAD 81 00 ( 80 20) 82 10, 82 70, 84 00
trigger .80 95, stop 80 75, saw 81 04
short CAD CHF 97 75 ( 96 20) 94 70, 93 70, 92 20
no trigger
short AUD NZD need to wait for a swing low
no decent retrace to look for trigger'
As I compiled this weeks 'watch list' I reviewed this posting, as I didn't enter any orders through the week.
With the benefit of hindsight, there were a lot of valid trade signals, many of which (if traded) would have been at least R1 and a few would have been losers.
I have added into the original text (hope this works) the outcome, had I have taken the triggers
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Old Oct 8, 2012, 3:53pm   #547
Joined Dec 2009
EUR JPY long

Leia started this thread my strategy full set up requirement:
daily & four hourly trend indicators in alignment (long)
price has retraced to the 50 / 61.8 fib level of the previous (weeks) up swing
the last candle printed was a 'hammer' formation, providing a 'trigger'

Order placed long @ 101.50 with a stop at 101.10 (risk -40pips), split equally into three parts
part 1 target = R1 +40 pips = 101.90
part 2 target = previous swing high @ 102.80 (+130pips R3)
part 3 trailing stop (behind fur hourly swing highs)

as always, if the trade should open and achieve target 1 I will move my stops on the other twoparts to break even
Attached Thumbnails
eur-jpy-daiy.gif   eur-jpy-4-hour.gif  
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Old Oct 8, 2012, 4:25pm   #548
Joined Dec 2009
EUR CAD long

Leia started this thread set up similar to EUR JPY above, indicators are long, price has retraced and printed a trigger candle on the 4 hour time frame

entry 1.27 00 stop1.26 60 (risk -40pips)
target 1 = 40 pips @ 1.27 40
target 2 previous swing high at 1.28 00
target 3 trailing stop
Attached Thumbnails
eur-cad-daily.gif   eur-cad-4-hour.gif  
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Old Oct 8, 2012, 4:38pm   #549
Joined Dec 2009
EUR USD long

Leia started this thread and another EUR pair showing the same trade order criteria

long at 1.29 75, stop at 1.29 35 (risk -40 pips)
target 1 = R1 = 40pips at 1.30 15
target 2 = recent swing high at 1.30 70 (+95 pips R2)
target 3 = trailing stop
Attached Thumbnails
eur-usd-4-daily.gif   eur-usd-4-hour.gif  
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Old Oct 8, 2012, 5:00pm   #550
Joined Dec 2009
Re: EUR CAD long

Leia started this thread
Quote:
Originally Posted by Leia View Post
set up similar to EUR JPY above, indicators are long, price has retraced and printed a trigger candle on the 4 hour time frame

entry 1.27 00 stop1.26 60 (risk -40pips)
target 1 = 40 pips @ 1.27 40
target 2 previous swing high at 1.28 00
target 3 trailing stop
trigger candle invalidated (support broken) order removed
Attached Thumbnails
eur-cad-4-hour.gif  
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