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[wackypete2]

Well ... seeing as you offered ....

I'm curious as to what prompted that trade? I've looked at with various timeframes and indicators, but it's got me stumped. There's been a strong downward momentum all day, and it looked to me like it was pausing for breath before resuming the slide. Admittedly it climbed from about 17:00, but it did the same at 10:00 by the same amount and then promptly fell again - why was it different this time? Your entry was about when it re-passed the high of around 106.00, was that the cue for the entry?

The next support/resistance (on the 5min chart anyway) is about 106.2 and then 106.4 - will it go that far?

I'm glad you asked! lol
As you see I just like to take small pips, usually 10-15, and have small stops, so I'm not looking out on a longer time frame. If you look at the pic in my entry post, the 50ma line turned green (rising) and the price was coming off the lows of the day rather than being somewhere in the middle of the range. Last, this time of day is good for small bounces, especially after a good trend day, as most banks and large traders have left or are closing out positions which means the risk of further follow-thru along the trend is small during this time frame.

Hope that helps.

Peter

 

[wackypete2]

My opinion is the low at 105.60 is safe for a while in the Asian session. I think there's a good chance price will hit 106.20, but not .40

Peter

 

[wackypete2]

Your entry was about when it re-passed the high of around 106.00, was that the cue for the entry

I love trading around the "00" round numbers. When other factors line up at those points there's usually a good low risk trade to be had, for small pips though, as I stated in my previous post.

Peter

 

[wackypete2]

Gotta run some errands... I'll be back in about an hour or so.

Peter

 

[DynoDad]

Great info Peter, thanks - food for thought. Here in the Uk it's bed time.

 

[VielGeld]

Been some time since I made a call here. My trading was leveling up in the process.

Here we go with the Eur/Jpy tonight.

 

[VielGeld]

Long 105.793

 

[VielGeld]

Out -6. This baby's got lower to go.

 

[wackypete2]

missed a real nice short opportunity earlier while I was out. Same chart and lines as previous. Price broke through the trend line and went south fast. Just posting it to show the opportunities are there. Patience is needed.

Peter

 

[VielGeld]

Long 105.792. Giving this another shot.

 

[VielGeld]

Long 105.792. Giving this another shot.

Out B/E. I purely reacted to that sell spike. Just on time.

 

[VielGeld]

... Or not considering it's heading back up now.

 

[wackypete2]

wild ride in aud.
I haven't had time to prepare a plan for tonight. been busy.

Peter

 

[VielGeld]

missed a real nice short opportunity earlier while I was out. Same chart and lines as previous. Price broke through the trend line and went south fast. Just posting it to show the opportunities are there. Patience is needed.

Peter

It's funny how often price "fills the gap". If it goes in one direction, you might be able to bet on it returning there. 'twas a nice short indeed.

 

[VielGeld]

And long 105.88.

 

[VielGeld]

Out -3.

I think I might call it a night here. The big moves happened prior to the open and I missed those. What we have here is just weaving and bobbing.

I'll keep watching, but I don't have high hopes of anything significant.

 

[wackypete2]

buy audusd 1.0520 stop 1.0508
bounce trade

 

[wackypete2]

exit 1.0527 +7

Peter

 

[wackypete2]

I meant to exit 1/2 but exited the whole position by mistake.

I hate it when that happens. geez...


Peter

 

[wackypete2]

My opinion is the low at 105.60 is safe for a while in the Asian session. I think there's a good chance price will hit 106.20, but not .40

Peter

Good call by me! (pat self on back) :smart:

You guys can throw tomatoes when I make bad calls!!

Peter