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Intra Day Yen - Naked

  • #321
  • Feb 15, 2008 2:39am Feb 15, 2008 2:39am
Quoting piphitman
I agree Issy, lots of long wicks, short spikes, hard to make sense of any real direction yet.

I think I'm going to pull in my tent and call it a week, keep my pips and get to bed. I don't want to ruin my 5 consecutive days of plus pips on the I-fibs method. I'm very satisfied for the week. Good luck heading into NY.

great trades this week everyone....

Thanks again for starting the thread Islander.

have a nice weekend.....
you too and thanks for your posts......c u on Monday http://www.forexfactory.com/images/icons/icon14.gif
Trading Levels with WRBs
  • #322
  • Feb 15, 2008 2:45am Feb 15, 2008 2:45am
Quoting dagoods
i see uj up and gu down...so gj slightly up .... is this what u see too?

yes

PS target on uj off weekly fib is around 108.87 so watch that level...sure to be some action IMO....

OK, thx - I'll take a better look at UJ

PS its friday! good strategy issy on friday... bank them pips quik! u r a very wise captain pippirate arrrrrrrrghhhhhh
LOL - it comes from too many losses before I found Skunny's thread!
No data till the US session, so this morning its pips in the bank asap for me!
Trading Levels with WRBs
  • #323
  • Feb 15, 2008 3:01am Feb 15, 2008 3:01am
OK - here's what I see on UJ - it was a buy earlier on its reversal up out of the Yellow DZ and the break of the AL line - with another chance as it came back down and bounced off the top of the DZ.

I'd normally have the salmon fibs on my 15m chart.
Attached Image (click to enlarge)
Click to Enlarge Name: feb 15 uj 5m 0855.gif Size: 10 KB
Trading Levels with WRBs
  • #324
  • Feb 15, 2008 3:10am Feb 15, 2008 3:10am
I've had a couple of quick trades in cable - here was the last set up - again I'm out and now flat.....FF trading!
Attached Image (click to enlarge)
Click to Enlarge Name: feb 15 gu 5m 0910.gif Size: 8 KB
Trading Levels with WRBs
  • #325
  • Feb 15, 2008 3:13am Feb 15, 2008 3:13am
Quoting Islander
I've had a couple of quick trades in cable - here was the last set up - again I'm out and now flat.....FF trading!
Nice trade Issy. How do you enter trades like this that barely even make it into the DZ? Did you enter right as the red candle formed?
  • #326
  • Feb 15, 2008 3:26am Feb 15, 2008 3:26am
Quoting 24HourTrader
Nice trade Issy. How do you enter trades like this that barely even make it into the DZ? Did you enter right as the red candle formed?

Good question - the wide red candle just before the low showed selling pressure, then we had a slow grind up, so as soon as price touched the DZ I sold - also the Daily Pivot is at 9681 - as I've said I'm in and out quicky today, just using the DZ and not waiting for T1 etc - Freaky Friday trading - darn but its hard work!
Trading Levels with WRBs
  • #327
  • Feb 15, 2008 3:31am Feb 15, 2008 3:31am
gu.... u getting this one?
  • #328
  • Feb 15, 2008 3:38am Feb 15, 2008 3:38am
Quoting Islander
Good question - the wide red candle just before the low showed selling pressure, then we had a slow grind up, so as soon as price touched the DZ I sold - also the Daily Pivot is at 9681 - as I've said I'm in and out quicky today, just using the DZ and not waiting for T1 etc - Freaky Friday trading - darn but its hard work!
Oh very cool, determining buying weakness and seller control due to slow retrace up. There's nothing I love more than entering directly on a fib level for maximum precision.

Question though(sorry another one), where would you have set your stop or bailed out of that trade had it gone long after you entered? Im guessing maybe at the other end of the DZ, the 61.8%?
  • #329
  • Feb 15, 2008 3:38am Feb 15, 2008 3:38am
This fib is on a narrower range than I like on the 5m chart, but the idea is to zoom in on the possible reversal....here, the sell is on the final break of the lower AL line - tighter range = tighter stops AND closer attention to the chart and trade...hit and run
Attached Image (click to enlarge)
Click to Enlarge Name: feb 15 gj 5m 0925.gif Size: 16 KB
Trading Levels with WRBs
  • #330
  • Feb 15, 2008 3:49am Feb 15, 2008 3:49am
UJ MAY be joining cable's down move - its just broken under its M3 line.

IF it confirms this and continues down towards its DP at 108.01 then GJ should get down towards the 212 area....TWT
Trading Levels with WRBs
  • #331
  • Feb 15, 2008 3:53am Feb 15, 2008 3:53am
Possible reversal
Attached Image
Regards
  • #332
  • Feb 15, 2008 3:59am Feb 15, 2008 3:59am
Quoting howard
Possible reversal
Yep, I have the same fibs - I didnt add them to my last post to avoid clutter...I'm thinking that now we'll sit for 30 mins with no action and then move 50 pips in a couple of bars.....I hope that its down!!

Edit: LOL - it was! - I've taken some profit at T2 and looking for T3 on the remainder
Trading Levels with WRBs
  • #333
  • Feb 15, 2008 4:03am Feb 15, 2008 4:03am
Short from AL
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 18 KB
"The only successful substitute for brains is silence."
  • #334
  • Feb 15, 2008 4:09am Feb 15, 2008 4:09am
Quoting Islander
Yep, I have the same fibs - I didnt add them to my last post to avoid clutter...I'm thinking that now we'll sit for 30 mins with no action and then move 50 pips in a couple of bars.....I hope that its down!!

Edit: LOL - it was! - I've taken some profit at T2 and looking for T3 on the remainder
That is on GJ, is it?
Not UJ
Regards
  • #335
  • Feb 15, 2008 4:18am Feb 15, 2008 4:18am
Closed half at T1 for +70
The rest for a free ride down

Nice last trading day
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 18 KB
"The only successful substitute for brains is silence."
  • #336
  • Feb 15, 2008 4:22am Feb 15, 2008 4:22am
Quoting howard
That is on GJ, is it?
Not UJ
Whoops - I have both - a wider range on GJ and yours on UJ - trying to keep up and trade is hard this morning!

GJ has now passed T3 as UJ pushed well under its 108 level....
Trading Levels with WRBs
  • #337
  • Feb 15, 2008 4:22am Feb 15, 2008 4:22am
Quoting DXTrade
Closed half at T1 for +70
The rest for a free ride down

Nice last trading day
WTG DXT - great trading.....http://www.forexfactory.com/images/icons/icon14.gif
Trading Levels with WRBs
  • #338
  • Feb 15, 2008 4:26am Feb 15, 2008 4:26am
It now looks as if T4 - the 2.618 extension at 211.49, also the S1 level - will be hit next...cables holding at its T1.....a bounce would be nice to allow us to reload....http://www.forexfactory.com/images/icons/icon10.gif

Edit: FYI, T4 on the narrow Yellow fibs is T1 on the wider range fibs..
Trading Levels with WRBs
  • #339
  • Feb 15, 2008 4:37am Feb 15, 2008 4:37am
Out with the second half at the S1-T2 cluster for another 90 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 15 KB
"The only successful substitute for brains is silence."
  • #340
  • Edited 4:48am Feb 15, 2008 4:48am | Edited 4:48am
Quoting DXTrade
Out with the second half at the S1-T2 cluster for another 90 pips.
That's super trading and great lesson to us all about watching the higher TFs and having patience - I'm already considering moving up to the 15m chart - just have to finish some more back testing.
Trading Levels with WRBs
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