Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; My daily and 4 hour indicators are short However the last daily candle to close suggests rejection of lower prices ...

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Old Feb 13, 2013, 7:29am   #661
Joined Dec 2009
cable long

Leia started this thread My daily and 4 hour indicators are short
However the last daily candle to close suggests rejection of lower prices at this time, closing above the previous swing low on the daily time-frame and support offered from the monthly ascending trend-line from May 2010, June 2012

I have place an order long around 50% back into yesterdays daily candle @ 1.56 20 with a stop below at 1.57 70 (-50pips)
T1 = R1 = 50 pips @ 1.56 70
T2 = recent daily highs @ 1.58 00 (+180pips, R3)
T3 = trailing stop loss to potential 1. 63 00
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gbp-usd-long-daily-trigger.gif  
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Old Feb 13, 2013, 9:54am   #662
Joined Dec 2009
loonie short

Leia started this thread similar to the cable trade posted above USD CAD trend indicators are long on both daily and 4 hour time-frames
However the daily chart has posted two candles indicating rejection of higher prices at this time (close to strong weekly Support / Resistance level) so I have placed a counter trend order short about 50% of the way back into these daily candles, with my stop just above the most recent daily highs
Order short @ 1.00 60, stop @ 1.01 00 (-40pips risk)
T1 = R1 = +40pips = 1.00 20
T2 - recent low @ 0.99 40 (+120pips R=3)
T3 - trialing stop to 0.98 30 (+230pips, R=5)
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usd-cad-short-daily-trigger.gif  
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Old Feb 13, 2013, 11:55am   #663
Joined Dec 2009
Re: cable long

Leia started this thread
Quote:
Originally Posted by Leia View Post
My daily and 4 hour indicators are short
However the last daily candle to close suggests rejection of lower prices at this time, closing above the previous swing low on the daily time-frame and support offered from the monthly ascending trend-line from May 2010, June 2012

I have place an order long around 50% back into yesterdays daily candle @ 1.56 20 with a stop below at 1.57 70 (-50pips)
T1 = R1 = 50 pips @ 1.56 70
T2 = recent daily highs @ 1.58 00 (+180pips, R3)
T3 = trailing stop loss to potential 1. 63 00
Order opened and stop hit for full - 50 pips
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Old Feb 14, 2013, 2:18pm   #664
Joined Dec 2009
AUD USD short

Leia started this thread My indicators are short on both daily and 4 hour time frames
Price has retraced 50 / 61.8% of the previous 4 hour down swing and printed a candle indicating rejection of higher prices at this time on the 4 hour chart (shooting star type)
Confluent resistance with previous swing low on the daily time frame as well as potentially the third touch of a descending trend line on the daily time frame
I have placed an order to enter this pair short at 1.03 40 with a -40pip stop @ 1.03 80
T1 = R1 = +40pips @ 1.03 00
T2 = recent lows @ 1.02 50 (+90 pips R2)
T3 trailing stop to 1.01 50 (+190 pips R4)
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aud-usd-short-4h-trigger.gif  
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Old Feb 14, 2013, 2:22pm   #665
Joined Dec 2009
Re: AUD JPY long

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Originally Posted by Leia View Post
2nd part stopped out for NIL
+200 pips on last part (trialing stop hit)
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Old Feb 14, 2013, 2:25pm   #666
Joined Dec 2009
Re: USD CHF long trigger

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Originally Posted by Leia View Post
Stop hit on remaining parts
charts showing exit on trailing stop of short position and set up back long
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usd-chf-short-stop-hit-200pips.gif   usd-chf-long-daily-set-up-target-1-achieved-.gif  
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Old Feb 15, 2013, 5:13pm   #667
Joined Dec 2009
Re: AUD USD short

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Quote:
Originally Posted by Leia View Post
I have placed an order to enter this pair short at 1.03 40 with a -40pip stop @ 1.03 80
T1 = R1 = +40pips @ 1.03 00
T2 = recent lows @ 1.02 50 (+90 pips R2)
T3 trailing stop to 1.01 50 (+190 pips R4)
T1 achieved, stops to break even on remaining positions
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aud-usd-short-t1-stop-.gif  
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Old Feb 18, 2013, 11:06pm   #668
Joined Dec 2009
Re: loonie short

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Quote:
Originally Posted by Leia View Post
Order short @ 1.00 60, stop @ 1.01 00 (-40pips risk)
T1 = R1 = +40pips = 1.00 20
T2 - recent low @ 0.99 40 (+120pips R=3)
T3 - trialing stop to 0.98 30 (+230pips, R=5)
Stop hit for full 40pip loss
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Old Feb 25, 2013, 4:00pm   #669
Joined Dec 2009
Re: AUD USD short

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Originally Posted by Leia View Post
T1 achieved, stops to break even on remaining positions
Stops hit for NIL @ 1.03 40
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Old Feb 25, 2013, 4:17pm   #670
Joined Dec 2009
Re: loonie short

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Originally Posted by Leia View Post
Stop hit for full 40pip loss
(chart added)
and this is why you must have and adhere to your stops
not all trades work out - this was 'wrong' @ 1.00 60, some 200pips ago, but 'only' cost me 40pips
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