Seeking consistency

This is a discussion on Seeking consistency within the Trading Journals forums, part of the Reception category; both antipodean pairs indicators are long on the daily & 4 hour charts I am watching for a retrace of ...

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Old Aug 17, 2012, 11:10am   #484
Joined Dec 2009
AUD and NZD JPY pairs long

Leia started this thread both antipodean pairs indicators are long on the daily & 4 hour charts

I am watching for a retrace of the previous 4 hour (this weeks) up move for a trigger candle to join this Yen weakness against either or both of AUD & NZD
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Old Aug 17, 2012, 3:13pm   #485
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Re: GBP USD long

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Originally Posted by Leia View Post
both my time-frames are indicating long
price is retracing on the 4H chart into the 50 / 61.8% zone of the last 4H up swing
watching for a 4H trigger candle long

there is very significant daily and weekly resistance just above, so it is unlikely (but not impossible) that there will be sufficient risk / reward to enter the market long at these levels, even if a 4H 'trigger' should form some time today
Order at 50% of last 4 hour 'trigger' candle at 1.57 00 with a stop at 1.56 80 (-20pips) and an initial target of 1.57 70 (reward +70) R-3
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Old Aug 17, 2012, 3:17pm   #486
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Re: AUD and NZD JPY pairs long

Leia started this thread
Quote:
Originally Posted by Leia View Post
both antipodean pairs indicators are long on the daily & 4 hour charts

I am watching for a retrace of the previous 4 hour (this weeks) up move for a trigger candle to join this Yen weakness against either or both of AUD & NZD
Order at 50% of last 4 hour 'trigger' (not as perfect as gbp usd) candle at 82.90 with a stop at 82.70 (-20pips risk) and initial target is 84.50 (reward 160 pips) R=8
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Old Aug 17, 2012, 5:14pm   #487
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Re: GBP USD long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Order at 50% of last 4 hour 'trigger' candle at 1.57 00 with a stop at 1.56 80 (-20pips) and an initial target of 1.57 70 (reward +70) R-3
Stop hit for -20pips
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Old Aug 19, 2012, 12:13pm   #488
Joined Dec 2009
13 on my watch list for week commencing Aug 20th

Leia started this thread I have been quite prolific with posting over the last week, but not quite so with trading.

I traded GBP CAD and GBP CHF which both saw gains of more than the amount of risk, before turning and hitting my stop at Break Even
My EUR USD order was not opened (it made the move in the desired direction without me), but ironically had I been in it I would also have achieved only Break Even
On Friday I placed orders on GBP USD, which was a loser and AUD JPY, which is still open, but in draw down and will most likely be taken out for a second loss on the opening volatility over night (the Asian session)

So, looking ahead, the following crosses are (at present) aligned in direction per my strategy and therefore candidates for 'trigger candles' on the daily or 4 hourly charts at some point next week:
long silver (but this is at the top of the present daily sideways range)
short EUR GBP (.78 80 / .80 00)
short EUR CAD (1.22 200) (but this is presently coming up off the all time low)
long GBP CHF (1.52 50) (almost duplicate of last week)
short GBP CAD (1.55 65) (as GPB CHF above)
long CAD JPY (79.65)
long AUD JPY (82.80)
long NZD JPY (63.80)
short NZD CAD (.80 20)
long CAD CHF (.98 20)
short EUR USD (1.23 50)
short USD CAD (.99 10)
long USD GBP (1.56 80) (as posted this week, into strong weekly resistance)

Fundamentally, AUD interest rates were cut last week, which could mean any long AUD trade is doomed to failure. Also, the political situation in the Euro zone has gone quiet, meaning any poor data out of the USA could negate any sound technical EUR short trades. The operative words being 'could' as I don't concern myself with any fundamental data when calculating trade orders (but perhaps I should, hence the post)

Last edited by Leia; Aug 19, 2012 at 12:40pm. Reason: inability to read a calendar
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Old Aug 20, 2012, 7:47am   #489
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Re: AUD and NZD JPY pairs long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Order at 50% of last 4 hour 'trigger' (not as perfect as gbp usd) candle at 82.90 with a stop at 82.70 (-20pips risk) and initial target is 84.50 (reward 160 pips) R=8
Price has touched 83.10 overnight, so I have now moved my stop up to break even at 82.90 from 82.70, in line with my rules. Will the London open stop me out for NIL?
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Old Aug 20, 2012, 6:17pm   #490
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Re: AUD and NZD JPY pairs long

Leia started this thread
Quote:
Originally Posted by Leia View Post
Price has touched 83.10 overnight, so I have now moved my stop up to break even at 82.90 from 82.70, in line with my rules. Will the London open stop me out for NIL?
No, the London session got up to 83.28 (over 2X risk) but the New York open push back down to take the trade out for NIL
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