Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; euro was a loss...

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Old Jan 4, 2013, 1:32pm   #621
Joined Dec 2009
eur usd short

Leia started this thread euro was a loss
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Old Jan 7, 2013, 8:52am   #622
Joined Dec 2009
Re: eur short

Leia started this thread Trailing stop moved to 1.31 00 as 4 hour swing high formed but also daily time-frame has set up a long opportunity (see next post)
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Old Jan 7, 2013, 8:59am   #623
Joined Dec 2009
EUR USD long

Leia started this thread Daily indicators are long (4 hourly short)
price has retraced 61.8% of previous down move on the daily time frame and printed a rejection candle (hammer) on the daily time frame
Weekly ascending trend-line potentially providing support to price at this level for a re test of the recent highs
I have placed an order long at 1.30 90 with a 100 pip stop at 1.29 90
Target 1 = R1 = 1.31 90
Target 2 = recent highs at 1.32 90 (+200 pips R=2)
Target 3 trailing stop behind four hourly swing highs to 1. 33 80
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Last edited by Leia; Jan 7, 2013 at 9:00am. Reason: forgot to change post title
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Old Jan 7, 2013, 9:10am   #624
Joined Dec 2009
AUD USD long

Leia started this thread very similar set up to EUR USD above, strong daily rejection candle with daily indicators and 4 hour aligned long
I have placed an order long at the 50% re-tracement level of Fridays candle, as this aligns very closely to the 4 hour 'hammer'-esque candle embedded in Fridays, allowing a tighter stop and associated de-risking of being able to move stops to break even if Fridays highs are achieved
Order long placed @ 1.04 50 with a 60pips risk @ 1.03 90
target 1 = R1 = 60 pips @ 1.05 10
target 2 = recent highs @ 1.05 80 (+130pips R2)
target 3 trailing stop behind 4 hour swing highs to 1.06 30
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Old Jan 10, 2013, 6:30pm   #625
Joined Dec 2009
Re: EUR USD long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Daily indicators are long (4 hourly short)
price has retraced 61.8% of previous down move on the daily time frame and printed a rejection candle (hammer) on the daily time frame
Weekly ascending trend-line potentially providing support to price at this level for a re test of the recent highs
I have placed an order long at 1.30 90 with a 100 pip stop at 1.29 90
Target 1 = R1 = 1.31 90
Target 2 = recent highs at 1.32 90 (+200 pips R=2)
Target 3 trailing stop behind four hourly swing highs to 1. 33 80
Trade opened R1 achieved & stops now at breakeven for remaining two parts
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Old Jan 10, 2013, 6:33pm   #626
Joined Dec 2009
Re: eur short

Leia started this thread
Quote:
Originally Posted by Leia View Post
Trailing stop moved to 1.31 00 as 4 hour swing high formed but also daily time-frame has set up a long opportunity (see next post)
Stop hit, closing all positions for this trade set up
Also long trade set up now live
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Old Jan 10, 2013, 6:36pm   #627
Joined Dec 2009
Re: eur gbp long

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Quote:
Originally Posted by Leia View Post
weekly and daily trend is up
price has reversed (steeply) and printed a four hour trigger
I have placed an order long in two parts. The first target is R1 and the second a return to the recent daily highs

I am aware of NFP later today and the fact that price has not moved all the way down to the ascending trendline, to thoroughly test and reject it (ie we may now be in a down move)
R1 achieved and stop moved to breakeven on second portion of trade
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Old Jan 14, 2013, 10:46am   #628
Joined Dec 2009
Re: EUR USD long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Trade opened R1 achieved & stops now at breakeven for remaining two parts
All targets achieved
Awaiting price action signals for a repeat down swing...
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Old Jan 14, 2013, 11:02am   #629
Joined Dec 2009
AUD CAD long

Leia started this thread Potential opportunity to add to long position (having already achieved R1 and moved second part of original trade to break even)

Price has retraced 50/61.8% of the last 4 hour down move and provided a reasonable candle to use as a trigger back into the long term trend

Order @ 1.03 85, stops 1.03 60 (risk 15pips)
target 1 @ R1 = +15pips = 1.04 00
target 2 = prev Hi @ 1.04 40 (+55pips, almost R4)
target 3 = trailing stop loss or 1.04 60 (major SR level)

If the order is triggered open and price moves in my favour, the stop on the second two positions will be moved to break even @ R1
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Old Jan 14, 2013, 11:06am   #630
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Re: eur gbp long

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Quote:
Originally Posted by Leia View Post
R1 achieved and stop moved to breakeven on second portion of trade
Target 2 achieved (+85pips)
part 1 +35pips - total trade @120pips/2 = +60pips/45risk = R1.3
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