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Intra Day Yen - Naked

  • #421
  • Feb 21, 2008 12:47am Feb 21, 2008 12:47am
Quoting Jared
A couple questions. How long did you hold that Cable trade? Did you scale out, taking the majority of profit where safe and letting a smaller portion of your position ride it all the way? I don't see any other way to ride a move like that from start to finish.

Also, I noticed your fib has unfamiliar markings on it, AZ, DZ etc. What is that and where do I go to learn about it?
Hi Jared - I dont post any trades - just the total move from the entry points - and yes, I scale out of trades and also lock in profits early.

I've just renamed the fib levels - the 38 and 62 are the Decision Zone - where price decides to reverse - or not. The 23 / 76 are the Alert Lines and T1, T2 etc are the extensions. These are all ideas gained from Skunny's and Bo's threads and explained in prior posts.

Regards

Issy
Trading Levels with WRBs
  • #422
  • Feb 21, 2008 1:00am Feb 21, 2008 1:00am
GM - up too late to get in on the start of the last move, so now doing a rescue mission with a buy on the retrace!
Attached Image (click to enlarge)
Click to Enlarge Name: feb 21 5m gj 0655.gif Size: 12 KB
Trading Levels with WRBs
  • #423
  • Feb 21, 2008 2:19am Feb 21, 2008 2:19am
looks like another one of those days where cable and UJ are in complete opposite direction of each other......drove me crazy watching it yesterday. Maybe "if" retail sales take a bite out of Cable they'll both be on the right track.
trading naked.......
  • #424
  • Feb 21, 2008 2:29am Feb 21, 2008 2:29am
still undecided on GJ???? have taken a few real quik scalps on UJ but otherwise just kinda waiting for a direction to pop up somewhere, anywhere.
Attached Image
trading naked.......
  • #425
  • Feb 21, 2008 3:38am Feb 21, 2008 3:38am
T1 and T2 hit, rescue mission accomplished http://www.forexfactory.com/images/icons/icon10.gif
Trading Levels with WRBs
  • #426
  • Feb 21, 2008 3:39am Feb 21, 2008 3:39am
and then some.......heh
trading naked.......
  • #427
  • Feb 21, 2008 3:50am Feb 21, 2008 3:50am
T1's hit on this 15m chart.....now to see if there's a retrace on a lower TF to allow another buy......
Attached Image (click to enlarge)
Click to Enlarge Name: feb 21 gu 15m 0945.gif Size: 10 KB
Trading Levels with WRBs
  • #428
  • Feb 21, 2008 3:59am Feb 21, 2008 3:59am
A pull back to the 50% line = todays R1 level at 210.80 would be very nice...the equilivent chart on cable puts its 50% at 9505....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 21 gj 5m 0955.gif Size: 13 KB
Trading Levels with WRBs
  • #429
  • Feb 21, 2008 4:44am Feb 21, 2008 4:44am
When News Trading was still viable - 6+ months ago - we would fib the start of the news candle to the spike H / L and then look to get in on the retrace.

I was too slow to put up this fib as I was on the 5m chart - but just look at that entry....sweet
Attached Image (click to enlarge)
Click to Enlarge Name: feb 21 gj 1m 0945.gif Size: 12 KB
Trading Levels with WRBs
  • #430
  • Feb 21, 2008 5:28am Feb 21, 2008 5:28am
Here was the buy on the retrace back to the 50% level.....lets see how far it goes.....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 21 uj 15m 1100.gif Size: 10 KB
Trading Levels with WRBs
  • #431
  • Feb 21, 2008 10:57am Feb 21, 2008 10:57am
Quoting Islander
Here was the buy on the retrace back to the 50% level.....lets see how far it goes.....
I hope you got out before that big drop on UJ
  • #432
  • Feb 21, 2008 12:59pm Feb 21, 2008 12:59pm
Quoting hndymann
I hope you got out before that big drop on UJ
Thank you, I was suspicious when it past the 107.28 high, but couldnt make it to the 108.36 high. The unexpectedly poor Philly Fed data sent UJ down hard - without me onboard.

Edit: Now to wait for the retrace.
Trading Levels with WRBs
  • #433
  • Feb 22, 2008 12:49am Feb 22, 2008 12:49am
Yesterday mornings UK data was positive for cable which spiked up and continued on up throughout the day.

Yesterday afternoons US data was negative for the dollar which had a big spike down and has since slowly made it back up tpwards its DZ.

This has left GJ following first the pound and then the dollar and it is now back in its DZ - waiting to see which of the majors will lead it next.

When the majors are moving in opposing directions IMO it is easier to trade them rather than GJ.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: feb 22 uj 15m 0630.gif Size: 9 KB
Click to Enlarge Name: feb 22 gu 15m 0635.gif Size: 8 KB
Click to Enlarge Name: feb 22 gj 15m 0640.gif Size: 10 KB
Trading Levels with WRBs
  • #434
  • Feb 22, 2008 1:32am Feb 22, 2008 1:32am
Quoting Islander
Yesterday mornings UK data was positive for cable which spiked up and continued on up throughout the day.

Yesterday afternoons US data was negative for the dollar which had a big spike down and has since slowly made it back up tpwards its DZ.

This has left GJ following first the pound and then the dollar and it is now back in its DZ - waiting to see which of the majors will lead it next.

When the majors are moving in opposing directions IMO it is easier to trade them rather than GJ.
those are the levels I am watching also
  • #435
  • Feb 22, 2008 1:45am Feb 22, 2008 1:45am
Off the 5min I'm seeing an equal high in UJ - just under its 15m DZ and 2 lower highs in cable. These have made 2 lower highs in GJ.

GJ now on its Daily Pivot at 210.84 - I'd like to see a bounce before trying a small sell....
Trading Levels with WRBs
  • #436
  • Edited 3:16am Feb 22, 2008 2:58am | Edited 3:16am
Patience works!

Nice Sell off the 50% line on this pull back

Edit: the better than expected Euro PMI data has spiked the Euro up and cable's following....more patience needed!
Attached Image (click to enlarge)
Click to Enlarge Name: feb 22 gj 5m 0855.gif Size: 8 KB
Trading Levels with WRBs
  • #437
  • Feb 22, 2008 3:29am Feb 22, 2008 3:29am
The 5m cable gave a buy off its 50% retrace and UJ gave a sell of its 5m DZ - lets hope that cable's buy was a short term signal caused by the Euro and the UJ now makes new lows under 107.16....lol, its Freaky Friday again!
Trading Levels with WRBs
  • #438
  • Feb 22, 2008 3:43am Feb 22, 2008 3:43am
I exited my GJ short when UJ hit its T1 at the 107 level - now to wait for the retrace....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 22 uj 5m 0940.gif Size: 9 KB
Trading Levels with WRBs
  • #439
  • Feb 22, 2008 4:09am Feb 22, 2008 4:09am
For me its a real Hit and Run day - take 20 pips whenever I can - 5 of these and I've hit my daily target.....
Attached Image (click to enlarge)
Click to Enlarge Name: feb 22 gj 1m 1005.gif Size: 12 KB
Trading Levels with WRBs
  • #440
  • Edited 5:48am Feb 22, 2008 4:53am | Edited 5:48am
Latest fib was from 211.18 to 210.26 - the 50% was hit at 10:22 am for a sell with another 20 pips proft already taken....

Edit: these 5m and 1m retraces to around the 50% level are being made in GU, UJ and GL - and good for these 20 pip trades.....:-)
Trading Levels with WRBs
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