Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; Daily and 4H trends are down 1H has just printed a shooting star candle indicating rejection of higher prices, just ...

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Old Mar 20, 2012, 10:19am   #379
Joined Dec 2009
usd cad 1H trigger candle

Leia started this thread Daily and 4H trends are down
1H has just printed a shooting star candle indicating rejection of higher prices, just above the 61.8% fib re-tracement of yesterdays 1H down swing

I have placed an order with a very tight (10 pips) stop at the round .99 00, initially targeting recent lows at 0.98 40 and if momentum looks to break this support level, last Septembers lows around .98 00

Initial order (if seen) @ .99 00, stop at .99 10 (10 pips risk) with target 1 at .98 40 (+40 pips) R = 4. Target 2 = .98 00 (+100 pips) R = 10
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usd-cad-d-set-up-20ema-resistance-.gif   usd-cad-4h.gif   usd-cad-1h-trigger.gif  

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Old Mar 20, 2012, 10:33am   #380
Joined Dec 2009
Re: usd cad 1H trigger candle

Leia started this thread [QUOTE=Leia;1814270
Initial order (if seen) @ .99 00, stop at .99 10 (10 pips risk) with target 1 at .98 40 (+40 pips) R = 4. Target 2 = .98 00 (+100 pips) R = 10[/QUOTE]

Stop hit -10 pips
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Old Mar 21, 2012, 7:57am   #381
Joined Dec 2009
eur usd 4H trigger to short

Leia started this thread daily and 4 hour trend is up (quite aggressive 4H ascending channel)

price has reached the 50% - 61.8% fib retracement level ZONE on the daily chart (1.32 50 - 1.33 00)

A 'shooting star' candle has printed in the overnight / asian session, suggesting a rejection of any higher prices at this time

I am not yet considering a short trade, but am watching for a more definitive rejection during european & US sessions
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Old Mar 23, 2012, 8:16am   #382
Joined Dec 2009
Gold long

Leia started this thread Daily and 4 hour trends are down (short)

However price has retraced on the longer term (weekly) chart to the bottom of the ascending channel (Oct '08) and printed a daily 'hammer' type candle at the 50-61.8% fib re-tracement of the last daily (Dec - Feb) up swing which coincides with a previous (Jan 13th support level)

I have placed an order within the daily candle at 1640, with a stop at 1625 (-15pips risk) and target 1 at recent daily highs 1675 (+35 reward) R= 2.3

If my order is opened I will look to move my stop up to breakeven if price makes it to R=1 @ 1655, which is still within yesterday candle.
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Old Mar 23, 2012, 9:13am   #383
Joined Dec 2009
gpb nzd daily short trigger

Leia started this thread Daily and 4H trend are long

However a counter trend trigger (shooting star, rejecting higher prices at this point in time) has been printed on the daily chart at a previous daily support and resistance level (confluence with the 50% fib re-tracement of the Dec - Feb down swing on the daily time-frame)

I have placed an order anticipating a retrace into yesterdays range at 1.95 50 with a stop at 1.96 75 (-125 pips risk) with a target of the daily range low at 1.89 50 (reward +500pips) R = 4

If my order is triggered and price reaches R=1 @ 1.94 25 I will move my stop to break even
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Old Mar 23, 2012, 11:58am   #384
Joined Dec 2009
eur jpy 4H long

Leia started this thread daily and 4 hourly trends are long

Price has retraced to 50% of the last 4H upswing and printed an inside bar which triggered (so far) a profitable long entry. I didn't trade this. I shall not be placing a trade at the levels of the inside bar either, because of the strong weekly support / resistance level immediately above

I shall keep an eye on it though next week, to see if my decision was right (weekly chart) or wrong (usual daily and 4H trend + fib pull back and trigger)
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eur-jpy-4h-inside-bar-long.gif   eur-jpy-daily-up-channel.gif   eur-jpy-weekly-major-res.gif  

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Old Apr 3, 2012, 3:19pm   #385
Joined Dec 2009
cable break out of recent range (long)

Leia started this thread Cable broke out and closed above (on the daily time frame) the 1.60 00 level

Daily and 4H trends are up, opportunity to play the retest of the previous resistance (turned into support) on the 1 hourly time-frame

Order set at 1.59 90 stop @ 1. 59 60 (risk -30 pips) target previous daily highs at 1.61 10 reward +120) R = 4
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gpb-usd-d-set-up.gif   gpb-usd-4h-set-up.gif   gpb-usd-1h-support-level.gif  

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