New trades
http://img408.imageshack.us/img408/6102/dailygz2.jpg
Trade #65
USDCAD
percent risk: 2%
Trade #66
GBPUSD
percent risk: 1%
Trade#67
USDJPY
percent risk: 1%
Let me revise my analysis. I had to give another look at them
NZDUSD
weekly: I see a stalled pattern which means bullish sentiment is weaker.
daily: hammer and doji developed in the last couple of days. Definitely staying out
EUROUSD
weekly: bullish after a piercing on the week of 12/17/06. Bullish sentiment
daily: I'm only to look for long this week. I entered long on this yesterday, not a good move since I entered in the middle of a trend. Didn't wait for a good entry
AUDUSD
weekly: trend began with piercing on 12/17/06. Bullish, and looking to long again
daily: wait for a bullish set up
USDCHF
weekly: past 2 weeks were harami after a bullish trend. I have to be cautious on this one
daily: broke out big but still within a range. I'm looking for a close above 1.2270 before i make a long
USDCAD
weekly: weekly is bullish after a hammer on 12/17/06. So I'm only looking to long
daily: well daily definitely broke after a hammer. So i'm in the trade
USDJPY
weekly: hammer on 12/24/06, so market is undecided
daily: bullish candle close above range of few days. So i'm long
GBPUSD
weekly: doji on 12/24/06. Undecided
daily: bearish engulfing trigger my short trade.
I notice that I am implementing somewhat of a aggressive style of trading with candlesticks. Whenever the weekly is showing weakness in a trend or indecision, I'm looking for a strong trigger on the daily to buy/sell. However, since the weekly is not confirming, my risk is 1% for this kind of aggresiveness. For trades that have weekly support patterns, I use 2%. We'll see how this goes
http://img408.imageshack.us/img408/6102/dailygz2.jpg
Trade #65
USDCAD
percent risk: 2%
Trade #66
GBPUSD
percent risk: 1%
Trade#67
USDJPY
percent risk: 1%
Let me revise my analysis. I had to give another look at them
NZDUSD
weekly: I see a stalled pattern which means bullish sentiment is weaker.
daily: hammer and doji developed in the last couple of days. Definitely staying out
EUROUSD
weekly: bullish after a piercing on the week of 12/17/06. Bullish sentiment
daily: I'm only to look for long this week. I entered long on this yesterday, not a good move since I entered in the middle of a trend. Didn't wait for a good entry
AUDUSD
weekly: trend began with piercing on 12/17/06. Bullish, and looking to long again
daily: wait for a bullish set up
USDCHF
weekly: past 2 weeks were harami after a bullish trend. I have to be cautious on this one
daily: broke out big but still within a range. I'm looking for a close above 1.2270 before i make a long
USDCAD
weekly: weekly is bullish after a hammer on 12/17/06. So I'm only looking to long
daily: well daily definitely broke after a hammer. So i'm in the trade
USDJPY
weekly: hammer on 12/24/06, so market is undecided
daily: bullish candle close above range of few days. So i'm long
GBPUSD
weekly: doji on 12/24/06. Undecided
daily: bearish engulfing trigger my short trade.
I notice that I am implementing somewhat of a aggressive style of trading with candlesticks. Whenever the weekly is showing weakness in a trend or indecision, I'm looking for a strong trigger on the daily to buy/sell. However, since the weekly is not confirming, my risk is 1% for this kind of aggresiveness. For trades that have weekly support patterns, I use 2%. We'll see how this goes
Working towards CME membership