Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; My daily and 4hour trends are short and the daily chart appears to be consolidating into a smaller and smaller ...

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Old Jul 13, 2012, 8:07am   #435
Joined Dec 2009
Gold long

Leia started this thread My daily and 4hour trends are short and the daily chart appears to be consolidating into a smaller and smaller trading range

Yesterdays candle was 'hammer-esque' in its formation and may signal the start of a move up, to and possibly through the descending trend-line that is 'squeezing' this pair up

It is not one for me though, but interesting to watch for the next few sessions
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gold-daily-set-up-counter-trend-inside-coil-.gif  
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Old Jul 13, 2012, 8:18am   #436
Joined Dec 2009
EUR GBP short

Leia started this thread The daily and 4hour charts are 'short'

Price has retraced 61.8/50% of the previous 4 hourly down swing leg and is showing some signs of rejection of higher prices

I have set a short order at .79 00 with a stop just above this weeks high at .79 20 and a target at the monthly swing low / monthly descending channel low at 0.77 00
A some what ambitious 'R' of 10

If this trade should open I will trail my stop as usual

I am aware that the previous daily candle indicates a rejection of lower prices and could be the initiation of a greater up move back toward the daily moving averages
Attached Thumbnails
eur-gbp-4h-set-up-trigger-short.gif   eur-gbp-daily.gif   eur-gbp-monthly-study.gif  


Last edited by Leia; Jul 13, 2012 at 8:21am. Reason: forgot to add charts
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Old Jul 13, 2012, 12:40pm   #437
Joined Dec 2009
Re: EUR GBP short

Leia started this thread
Quote:
Originally Posted by Leia View Post
I have set a short order at .79 00 with a stop just above this weeks high at .79 20 and a target at the monthly swing low / monthly descending channel low at 0.77 00
A some what ambitious 'R' of 10
If this trade should open I will trail my stop as usual
Order has been trigger and price achieved R1 (+20pips) @ 0.78 80 so I have now moved my stop to break eve
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Old Jul 14, 2012, 8:22am   #438
Joined Dec 2009
watch list for week commencing July 16th '12

Leia started this thread I have just reviewed all of my charts and identified the following as 'ones to watch' next week

The identification is based simply on trend (daily and 4 hourly moving averages in alignment, at the present time)

dir pair level of interest
short EUR USD 1.22 60
short GBP USD
long USD CHF 0.98 00
long GOLD EURO 1,288.0
short EUR GBP
short EUR NZD
short EUR AUD
short EUR JPY 97.50
short GBP CAD 1.58 15
short GBP NZD 1.96 00 (already traded this week of a R1 win)
short GPB JPY 123.30
short CHF JPY 80.84 or 81.25,watch price action
long NZD CHF
long AUD CHF

I also noticed two potential counter trend set ups on the daily time frame
long EUR CAD price is at support from 2010
short CAD CHF price is at a weekly swing high

I have just viewed this prior to posting (Preview Post) and noticed that the spacing has been removed, making my 'table' look a mess. Does anyone know if you can add a tabular format to the t2w site?
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Old Jul 14, 2012, 9:54pm   #439
 
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Joined Jun 2008
Re: Seeking consistency

Hello,

Can anyone shed light on what will happen to all those open positions, Long/Short, for EURCHF in case of EuroZone break up? I mean how will an adjustment take place?

Thanks
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Old Jul 15, 2012, 6:04am   #440
Joined Dec 2009
Re: Seeking consistency

Leia started this thread
Quote:
Originally Posted by swedendenmark View Post
Hello,

Can anyone shed light on what will happen to all those open positions, Long/Short, for EURCHF in case of EuroZone break up? I mean how will an adjustment take place?

Thanks
Hello swedendenmark

Thank you for your post

I assume you are referring to all of the pairs I have listed as 'ones to watch' for next week? If so, they are not open positions, only pairs that I am keeping a close eye on next week.

The only open position I have at the moment is a short EUR GBP, where my stop is at breakeven, so I will either be stopped out for NIL or continue to trail my stop behind price as it falls either to my target or until price reverses and hits my trailing stop

With reference to your specific question regarding EUR CHF and the potential break up of the euro zone, I am afraid I have absolutely no idea what the 'adjustment' you mention is, or when / if / how it might take place.

All I know is that should I have any positions open at the time, they will be closed off by hitting the levels that I have set either for stop loss or take profit purposes. Sorry I can't offer anything further, I don't really think you have posed your query on the correct thread?
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Old Jul 17, 2012, 8:38am   #441
Joined Dec 2009
CAD CHF short (counter trend)

Leia started this thread The daily and 4hour trends are long

However, as identified in my weekly look ahead this pair is at an interesting level (previous weekly Swing high) which has the potential to cause a significant re-tracement of the 4hourly and a smaller re-tracement on the daily time-frames

The last two days candle bars are of a 'shooting star' type indicating rejection of higher prices at this point in time and potentially a move lower for this pair

They also provide 'triggers' upon which my order open and stop loss levels may reasonably be defined

I have placed an order to short this pair at about 50% of yesterdays range @ 0.96 50
with a stop just above the high @ 0.97 10 (risk -60pips)
I have established a target at the confluence of the 61.8% re-tracement of the preceding daily up swing which is also a previous daily swing high that acted as resistance and may now become a support level @ 0.94 50 (reward +200pips)
R=3.

As always, should my order be opened and price move in my favour by my risk (ie to 0.95 90 I will move my stop to breakeven and thereafter trail at 'sensible' 4hourly resistance levels
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cad-chf-short-weekly.gif   cad-chf-short-daily-trigger.gif  
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