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Tiki Trader Trades

  • #381
  • Jan 24, 2008 5:16pm Jan 24, 2008 5:16pm
Quoting Eklavya
There is a classic weekly pin bar forming on AUDJPY..might be interesting...
Same situation with USD JPY I believe. Also tested support at 105.91.
  • #382
  • Jan 24, 2008 5:19pm Jan 24, 2008 5:19pm
I am not real sure.... first of all, I do not know this pair... and why this pair has the drop in the middle instead of a big Head like GBP/JPY... but right now it is acting like the other JPY pairs and that is overall downturn... I think JPY pairs are retracing and regrouping for the next down turn...

I do know that SeekingLight would have the answer to this... and that you should ask him... it would be worth asking him...!!

Since it is weekly... it should be strong... but my target woul be to the red 62 ema... about 300 pips up.... the 62 ema is strong resistance...

Quoting Eklavya
What will your opinion be if it rises and penetrates into the body of the previous week..will it then be an invalid pin bar?
  • #383
  • Jan 24, 2008 5:23pm Jan 24, 2008 5:23pm
YES !!! And this will also bring my divergence idea alive again... together with a beautiful Pin Bar... glorious !!!!! But the week has not finished !!! Patience.... scarlet we will see....

Quoting KissFan
Same situation with USD JPY I believe. Also tested support at 105.91.
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  • #384
  • Jan 24, 2008 5:28pm Jan 24, 2008 5:28pm
Quoting Tiki Trader
YES !!! And this will also bring my divergence idea alive again... together with a beautiful Pin Bar... glorious !!!!! But the week has not finished !!! Patience.... scarlet
Let me follow up a brilliant observation by ......ME, with a dumb question. When do weekly candles form? Friday? What's weird to me is that my 4 hr candles form on the hrs of 10-2-6. My daily at 4pm.
  • #385
  • Jan 24, 2008 5:36pm Jan 24, 2008 5:36pm
Quoting Tiki Trader
YES !!! And this will also bring my divergence idea alive again... together with a beautiful Pin Bar... glorious !!!!! But the week has not finished !!! Patience.... scarlet we will see....
Divergence? Would this have to do with your MA's that I see on your chart? Here is a guess----If your MA's converge then you might have a signal to take a position or get out of one.
  • #386
  • Jan 24, 2008 5:44pm Jan 24, 2008 5:44pm
If you are looking at the weekly time frame... you should wait until the weekly candle closes.... if daily time frame, you should wait until the close of the daily candle to gleen the Price Action info the candle gives...

Quoting KissFan
Let me follow up a brilliant observation by ......ME, with a dumb question. When do weekly candles form? Friday? What's weird to me is that my 4 hr candles form on the hrs of 10-2-6. My daily at 4pm.
  • #387
  • Jan 24, 2008 5:51pm Jan 24, 2008 5:51pm
Divergence....

Quoting KissFan
Divergence? Would this have to do with your MA's that I see on your chart? Here is a guess----If your MA's converge then you might have a signal to take a position or get out of one.
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  • #388
  • Jan 24, 2008 5:55pm Jan 24, 2008 5:55pm
When price makes lower lows and the MACD is making higher highs... that is divergence.... the MACD clues you into the force of the momentum... when signal line on slow stoch comes out of oversold... time to BUY...


Quoting KissFan
Divergence? Would this have to do with your MA's that I see on your chart? Here is a guess----If your MA's converge then you might have a signal to take a position or get out of one.
  • #389
  • Jan 24, 2008 6:00pm Jan 24, 2008 6:00pm
AND THEN... there is the better way... today was an IB.... yesterday was a pinnish bar........... I am pretty sure I have decided to go long at the break up of those two bars............ Time to try Price Action for a change... !!!


Quoting KissFan
Divergence? Would this have to do with your MA's that I see on your chart? Here is a guess----If your MA's converge then you might have a signal to take a position or get out of one.
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  • #390
  • Jan 24, 2008 6:34pm Jan 24, 2008 6:34pm
Quoting Tiki Trader
YES !!! And this will also bring my divergence idea alive again... together with a beautiful Pin Bar... glorious !!!!! But the week has not finished !!! Patience.... scarlet we will see....
I am going to go long USDJPY today, after I4B breakout.
  • #391
  • Jan 24, 2008 6:39pm Jan 24, 2008 6:39pm
Another way to look at USD/JPY... here is line chart.... see where the resistance is...??? And there's one of those danged inverted Head and Shoulder things again....

VERY much considering LONG above 107.50.... but as seeking says... this is not the time to go big.... still thinking how much I might trade...
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  • #392
  • Jan 24, 2008 6:40pm Jan 24, 2008 6:40pm
I see with my little eye something begining with P....

Quick look at the weekly chart and i can see a 4Day PB forming....
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  • #393
  • Jan 24, 2008 6:41pm Jan 24, 2008 6:41pm
You bet your boots buddy !!!!!!!!!!!!!!

Quoting ademac
I see with my little eye something begining with P....

Quick look at the weekly chart and i can see a 4Day PB forming....
  • #394
  • Jan 24, 2008 6:42pm Jan 24, 2008 6:42pm
That lovely P word we all live for !!!!!!!!!!!!
  • #395
  • Jan 24, 2008 7:05pm Jan 24, 2008 7:05pm
Here is the AUD/CAD trade i am working on. Will probably get out if it hits 1:1 return or atleast think about it.
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  • #396
  • Jan 24, 2008 7:13pm Jan 24, 2008 7:13pm
Quoting Tiki Trader
That lovely P word we all live for !!!!!!!!!!!!
Nuff said
  • #397
  • Jan 24, 2008 7:34pm Jan 24, 2008 7:34pm
Placed Pending order USD/JPY LONG @ 107.50 Break of IB... STOP @ 105.80 TARGET 108.50

Risk 0.5%
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  • #398
  • Jan 25, 2008 8:35am Jan 25, 2008 8:35am
Woke up to find JPY why gone up a bit, and now back down... no news left for today... slow day going to be maybe ?? I closed this trade out at BE...

Quoting Tiki Trader
Placed Pending order USD/JPY LONG @ 107.50 Break of IB... STOP @ 105.80 TARGET 108.50

Risk 0.5%
  • #399
  • Jan 25, 2008 8:37am Jan 25, 2008 8:37am
Quoting Tiki Trader
CHF trade stopped out... Well, at least I've got that off my back today...
Hi Tiki. I'm really enjoying your trading journal - I hope that you don't mind that I hang around and don't post much (yet) since I'm still trying to get my feet wet. I had a similar analysis to your USD/CHF trade that went "wrong" after the Fed rate change. I'm trying to get a better feel for how to handle moving stops, and I was wondering if you ever considered moving your stop to the bottom of the weekly pin bar after you were in your trade. I know that you are very good at keeping your risk to a certain percent per trade, but do you ever consider moving your stop once your trade is placed if it looks like you might have placed it in the wrong place? You commented in a prior post that you probably should have placed your stop under the weekly pin and it looks like that would still have you in the trade. I'm not trying to make you wish you had done something different, but I'm learning a lot in your journal about strict risk management and was wondering if you ever move your stops to a more risky position after a trade is open.

In case you're curious about my position or in case you want to comment to help me out, I almost closed out my position when your stop was hit but I left it open since the CHF wasn't moving when the EUR was and I decided that it was worth the extra pips to risk it since I already had my set risk at the stop level below the weekly pin.

Thank you for your great journal!

-Brian
  • #400
  • Jan 25, 2008 8:38am Jan 25, 2008 8:38am
A better trade idea might have been LONG GBP/JPY to 216... that is 800 sma... almost guaranteed price will hit there... 800 is a true magnet right now... !!!

Not going to trade it... Friday... and anyway my EUR/GBP is now in profit...!!!
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