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Build an Equity Millipede with the filtered Flying Buddha

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  • Post #141
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  • Mar 11, 2012 10:36am Mar 11, 2012 10:36am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Just glancing at my charts this morning, I did come across a pair that spiked my interest.

Nzd/Jpy.

Points in favor:
Keeps hitting trendline resistance on the weekly as shown.
Has tested recently and seems to be headed there again.
We know the JPY pairs are trending upward.

Points against:
Overexposure to JPY: Quite frankly I don't care much on that.
Higher spread: Not a killer for Daily tf
Trend well under way.

I think I might take an entry here and watch closely what PA does as it gets to that trendline. If it moves through with momentum then it's stack em and rack em time.
Attached Image(s) (click to enlarge)
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Name: ny weekly.gif
Size: 29 KB
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Name: nj daily.gif
Size: 27 KB
 
 
  • Post #142
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  • Mar 11, 2012 11:01pm Mar 11, 2012 11:01pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Order stopped out. I am placing a buy stop at the 50 fib on the H4.
 
 
  • Post #143
  • Quote
  • Mar 12, 2012 7:18am Mar 12, 2012 7:18am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New buy order has filled at 82.34 with a stop at 82.11
 
 
  • Post #144
  • Quote
  • Mar 13, 2012 11:55am Mar 13, 2012 11:55am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Stop hit last night. New order but in at H4 50% fib at 82.68 with a stop at 82.46
 
 
  • Post #145
  • Quote
  • Mar 13, 2012 2:40pm Mar 13, 2012 2:40pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Order has moved to BE +3. Price has broken through previous resistance so let's hope it continues upward.
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Name: uj h4.gif
Size: 21 KB
 
 
  • Post #146
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  • Mar 13, 2012 6:20pm Mar 13, 2012 6:20pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New buy limit order place on the H4 at the 50% fib. Price set at 82.86 with a stop at 82.61
Attached Image (click to enlarge)
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Name: uj h4.gif
Size: 21 KB
 
 
  • Post #147
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  • Mar 13, 2012 6:30pm Mar 13, 2012 6:30pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Went ahead and took this entry as I noticed it was stalling at support from previous resistance. I didn't want to lose the trade for a couple of pips.

I think it may be a good idea to place our limit/stop orders just before the 50% fib as often times we get the bounce just before it reaches that point.
Attached Image (click to enlarge)
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Name: uj h4.gif
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  • Post #148
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  • Mar 13, 2012 10:30pm Mar 13, 2012 10:30pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Stop has been moved to BE +3
 
 
  • Post #149
  • Quote
  • Mar 13, 2012 10:36pm Mar 13, 2012 10:36pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New limit order place at 83.03 with a stop at 82.82
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  • Post #150
  • Quote
  • Mar 14, 2012 10:08am Mar 14, 2012 10:08am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
I've placed a new limit order at the H4 50% fib. Price is at 83.49 with a stop at 83.28
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  • Post #151
  • Quote
  • Mar 14, 2012 10:10am Mar 14, 2012 10:10am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Quoting spyderman
Disliked
Just glancing at my charts this morning, I did come across a pair that spiked my interest.

Nzd/Jpy.


I think I might take an entry here and watch closely what PA does as it gets to that trendline. If it moves through with momentum then it's stack em and rack em time.
Ignored

Just a quick update on the N/J.

I do have 3 positions running so far on this. 2 at BE+ with the most current one running at about -7 pips.
 
 
  • Post #152
  • Quote
  • Mar 14, 2012 2:48pm Mar 14, 2012 2:48pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New entry at 50% fib of H4 at 83.68 with a stop loss at 83.51
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  • Post #153
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  • Mar 14, 2012 9:16pm Mar 14, 2012 9:16pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Latest entry moved to BE+2
 
 
  • Post #154
  • Quote
  • Mar 14, 2012 10:10pm Mar 14, 2012 10:10pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New limit order set at 50 fib at 83.93 with a stop at 83.62
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  • Post #155
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  • Mar 15, 2012 6:05am Mar 15, 2012 6:05am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Limit order filled last night and stop hit...bummer. I've placed a new buy stop order at the 50% fib on the H4 to trigger if price moves back up. Order set at 83.79 with a stop at 83.48
Attached Image (click to enlarge)
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Size: 20 KB
 
 
  • Post #156
  • Quote
  • Mar 16, 2012 6:53am Mar 16, 2012 6:53am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New buy stop has been hit.
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  • Post #157
  • Quote
  • Mar 16, 2012 2:25pm Mar 16, 2012 2:25pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
stopped out. I'm packin it in for the week.
 
 
  • Post #158
  • Quote
  • Mar 18, 2012 6:10pm Mar 18, 2012 6:10pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
New stop order placed on the Daily 50% fib. Price at 83.53 with a stop loss of 83.05
Attached Image (click to enlarge)
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Name: uj daily.gif
Size: 27 KB
 
 
  • Post #159
  • Quote
  • Mar 18, 2012 6:58pm Mar 18, 2012 6:58pm
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Buy stop has been hit.
 
 
  • Post #160
  • Quote
  • Mar 19, 2012 7:35am Mar 19, 2012 7:35am
  •  spyderman
  • Joined Nov 2010 | Status: Snaggin' Some Pips | 2,157 Posts
Latest order stop loss has been hit. I'm placing a new H4 buy stop as market has bounced off of 83.00. Buy stop is placed at 83.21 with a stoploss at 82.95
Attached Image (click to enlarge)
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Size: 21 KB
 
 
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