Alright Pocrel,
looks like the trading is going well mate, glad to see. Happy for you to post trades and charts mate enjoying seeing them just try not to post tooo many
gimme a ring and we will still go for that pint.
Pozzy
Best Thread My Journal at a Prop house
Alright Pocrel,
looks like the trading is going well mate, glad to see. Happy for you to post trades and charts mate enjoying seeing them just try not to post tooo many
gimme a ring and we will still go for that pint.
Pozzy
Little frustration for me on closing some trades out early as I should of been on these moves down from shorts earlier in the day. One of the issues I’m having with trading here is that I have someone watching me trade. While I don’t have any restrictions being that can I trade pretty much how I like it makes it psychology a lot harder and is an added pressure and the results shown there in me locking in profits a little to eagerly. However we are all only human and most of the time my trading is disciplined but just goes to show what a little rush of blood to the head (or trigger finger) can do. When positions are on LEAVE THEM ALONE unless price suggests otherwise!!
Just looking at the EURJPY price action and i have noticed a flag forming. Usually i would suggest that it will break to the upside as the top side has more of a gradient, but as you can see it has broken the bottom side and is likely through this for the same reasons as i stated before. More players are now short.
Attachments
I tend to cover the stop expense with a half of the position (to get a free ride) and the remaining half put a trailing stop. Doesn't happen all the time, but when it does, tends to go a looong way. Few times I was unable to follow the charts closely and was pleasantly surprised how far it went (no way I would leave it alone if I was near by)
Just a little insight into where i think the markets are heading. DOWN!Reasons:
1. Greece Debt. Greece bailout is too small? Greece wont be able to pay it off?
2. Banks hold alot of risk on Greek Debt. Adding to the decline.
3. Fibonacci 61.8% level retracement from Oct 2007 - March 2009 hit.
4. Uk is potentially in worse debt than Greece.
5. FEAR!!!!!
1. Greece Debt. Greece bailout is too small? Greece wont be able to pay it off?
2. Banks hold alot of risk on Greek Debt. Adding to the decline.
3. Fibonacci 61.8% level retracement from Oct 2007 - March 2009 hit.
4. Uk is potentially in worse debt than Greece.
5. FEAR!!!!!
Attachments
pocrel
Senior member
- Messages
- 2,546
- Likes
- 150
Morning mate,just to be a little bit different from you buddy itook eur/jpy long as it had consolidated
on the hour chart so i went for the brakeout which was up and it quickly took my targets
let me know if you agree with the trade
alos i was wondering how you would play the entry from the reversal off the 38% would you just fade it at that level?
cheers for the advice yesterday too mate
on the hour chart so i went for the brakeout which was up and it quickly took my targets
let me know if you agree with the trade
alos i was wondering how you would play the entry from the reversal off the 38% would you just fade it at that level?
cheers for the advice yesterday too mate
Hello Mate,
Looks like a nice trade mate. I’ve taken the fib from the 4hr so the pullback def has enough potential on it to be getting long counter trend.. Could use those fib levels as potential targets maybe?
Price at the 38.2% retracement, if it makes at lower low lower high on the 3Min chart (my entry time frame ) then its valid for a short for me. You could also look for a reversal bar maybe on the 1hr or 4hr, if you use indicators you could look for sell signals on them as well. Stop goes above the retracement high, That way If price does turn around here I’ve sold the rally in a downtrend which is the most advantages place to get short and if it continues to retrace I’ll be stopped out for a small loss and don’t have to sit through the whole retracement panicking and can look for the next possible level of resistance at the 50%. You could certainly counter trend a long trade up there though.
Good to chat yesterday.
Pozzy
Looks like a nice trade mate. I’ve taken the fib from the 4hr so the pullback def has enough potential on it to be getting long counter trend.. Could use those fib levels as potential targets maybe?
Price at the 38.2% retracement, if it makes at lower low lower high on the 3Min chart (my entry time frame ) then its valid for a short for me. You could also look for a reversal bar maybe on the 1hr or 4hr, if you use indicators you could look for sell signals on them as well. Stop goes above the retracement high, That way If price does turn around here I’ve sold the rally in a downtrend which is the most advantages place to get short and if it continues to retrace I’ll be stopped out for a small loss and don’t have to sit through the whole retracement panicking and can look for the next possible level of resistance at the 50%. You could certainly counter trend a long trade up there though.
Good to chat yesterday.
Pozzy
Small scalp. Level at 124.25 if it breaks the small flag. Bottom side support should break to the top side.
The price action broke and held around those levels for a while. With these ideas i would only be looking to take 5-10 ticks as it is just a scalp and should come good 90% of the time.
The price action broke and held around those levels for a while. With these ideas i would only be looking to take 5-10 ticks as it is just a scalp and should come good 90% of the time.
Attachments
Last edited:
