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Cool Runnings intraday swing trading

  • #841
  • Mar 11, 2009 2:58am Mar 11, 2009 2:58am
Quoting laromanell
Tatton, would you consider going long if this 1h candle closes above 1.3540?
i dont like counter trend trades i do em every now n then like i did yesterday with that buy... if i was buying i would buy support areas not resistance.

if u can buy lower would be good but you could be in good position for retrace trade, if it looks bullish dont be afraid to pull the trigger


i gota update results . will do so later on.
  • #842
  • Mar 11, 2009 3:05am Mar 11, 2009 3:05am
I'm kind of stuck between the two of my setups.
30 min tells me to sell when it gets to 50ema.
at the same time my 4h chart is telling me to buy, a very decent pin.
usually I put more weight onto 4h chart, especially since it closed a couple pips over monthly pivot. But 30 min chart is consistent with the trend and looks like the setup that I usually trigger without a second thought
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 4h.gif Size: 24 KB
Click to Enlarge Name: 30m.gif Size: 23 KB
  • #843
  • Mar 11, 2009 3:31am Mar 11, 2009 3:31am
Quoting laromanell
I'm kind of stuck between the two of my setups.
30 min tells me to sell when it gets to 50ema.
at the same time my 4h chart is telling me to buy, a very decent pin.
usually I put more weight onto 4h chart, especially since it closed a couple pips over monthly pivot. But 30 min chart is consistent with the trend and looks like the setup that I usually trigger without a second thought
when you fight in lower time frame always will find such things ...
  • #844
  • Mar 11, 2009 3:37am Mar 11, 2009 3:37am
Ok, here is a pullback, so I'll follow 4h chart and go long with sl @ 134.18. Tatton, I would really appreciate your opinion on this trade.
  • #845
  • Mar 11, 2009 3:39am Mar 11, 2009 3:39am
Let me show you something...

Attached Image (click to enlarge)
Click to Enlarge Name: GJ.gif Size: 8 KB


if you look on above image , you will find a two top ... that already break for downside , so market sooner or later will fall , the key for start this action is 134.40. thats why markets don't like to go upside (135.80)...

thats my opinion and i will happy to know your idea...
  • #846
  • Mar 11, 2009 3:58am Mar 11, 2009 3:58am
here is a much simplier version of what i see.
For clear breakout confirmation the daily candle should close below fib 61.8. which serves as a support line for double top. from my charts gy bounced off of 50 ret level. there is also a 50ema, which I respect a lot, and I see it as a valid support so far(until daily closes below it). Lastly 4h candle was a very nice pin. So I decided to take my chances. btw from the upper charts you can probably see daily resistanse levels almost coincide with 50ret.
Anyway, I see what you are saying and it's a valid point.
Attached Image (click to enlarge)
Click to Enlarge Name: d.gif Size: 18 KB
  • #847
  • Mar 11, 2009 4:03am Mar 11, 2009 4:03am
BTW, that 1h was a killing engulfing
  • #848
  • Mar 11, 2009 4:09am Mar 11, 2009 4:09am
Quoting laromanell
here is a much simplier version of what i see.
For clear breakout confirmation the daily candle should close below fib 61.8. which serves as a support line for double top. from my charts gy bounced off of 50 ret level. there is also a 50ema, which I respect a lot, and I see it as a valid support so far(until daily closes below it). Lastly 4h candle was a very nice pin. So I decided to take my chances. btw from the upper charts you can probably see daily resistanse levels almost coincide with 50ret.
Anyway, I see what you are saying and it's a...
thats why i said 134.40, and why you should wait for daily candle? as i saw you work on m30 and h4 chart thats why i send that image , maybe in weekly chart we find something else !!!!
  • #849
  • Mar 11, 2009 4:16am Mar 11, 2009 4:16am
The thing is I work on daily charts, but I choose my entry points based on the intraday action.That said, I go and look at 4h, then 1h, so on. If evrything is consistent I go in. This time it was very controvertial, but I took the trade because 4h looked too good to me. Why I decided to go long? look at the previous daily close, not that convincing but it made me long biased. Plus it's 2am at my place, and I just probably wanted to go to bed.
green pips to everyone!
  • #850
  • Mar 11, 2009 4:32am Mar 11, 2009 4:32am
lost internet for a hr or so, sorry i wasnt able to give more feedback.

13460 area formed support and this is why i said i would rather buy support than to buy where the current price was which at the time you asked me was at 13540 area, if you look now u had a entry for your buy but this would be a retrace trade so careful.

sells are in control.
  • #851
  • Edited 5:41am Mar 11, 2009 4:36am | Edited 5:41am
Quoting laromanell
here is a much simplier version of what i see.
For clear breakout confirmation the daily candle should close below fib 61.8. which serves as a support line for double top. from my charts gy bounced off of 50 ret level. there is also a 50ema, which I respect a lot, and I see it as a valid support so far(until daily closes below it). Lastly 4h candle was a very nice pin. So I decided to take my chances. btw from the upper charts you can probably see daily resistanse levels almost coincide with 50ret.
Anyway, I see what you are saying and it's a valid...
Hi laromanell,

Take a look at the weekly charts to help you decide on your next trade.

The levels of support are marked in green & are at 134.21 & 132.43
The next level of resistance is marked in red at 138.52

If the 134.21 level holds then it might be worth going long with a stop @ 132.43 or there abouts & a take profit at 138.52 which gives a risk reward ratio of 2.4

The last time this pair were at these levels was 3 weeks ago.

Regards,

BabeFX
Attached Image (click to enlarge)
Click to Enlarge Name: gbpjpy110309.gif Size: 35 KB
  • #852
  • Edited 5:33am Mar 11, 2009 5:15am | Edited 5:33am
not trying to be funny but last time we were at this level was 3 weeks ago no?
  • #853
  • Mar 11, 2009 5:35am Mar 11, 2009 5:35am
Quoting Tatton
last time we were at this level was 3 weeks ago no?

Hi Tatton,

Yes that is true ! & is clearly shown on the weekly chart as the ist level of support @ 134.21. Perhaps I should erase that 1995 remark from my previous post.

Regards,

BabeFX.
  • #854
  • Mar 11, 2009 5:44am Mar 11, 2009 5:44am
Quoting BabeFX
Hi Tatton,

Yes that is true ! & is clearly shown on the weekly chart as the ist level of support @ 134.21. Perhaps I should erase that 1995 remark from my previous post.

Regards,

BabeFX.
cool wasnt trying to be mean or whatever.. yes guys we are at critical area right now with GJ
  • #855
  • Mar 11, 2009 5:52am Mar 11, 2009 5:52am
Hi Tatton,

No problems.

I have been following your posts when time permits & have found them useful, keep up the good work.

Regards,

BabeFx.
  • #856
  • Mar 11, 2009 2:12pm Mar 11, 2009 2:12pm
well my shorts did well, good trades. will look for more entries later.
  • #857
  • Mar 11, 2009 2:33pm Mar 11, 2009 2:33pm
nice job holding shorts. Tatton is the maaan...and pretty good at Halo3 too.
  • #858
  • Mar 11, 2009 3:56pm Mar 11, 2009 3:56pm
Quoting Petefaders
nice job holding shorts. Tatton is the maaan...and pretty good at Halo3 too.
kill pre teen kids in vurtual world n tee baging them never gets old
  • #859
  • Mar 11, 2009 9:40pm Mar 11, 2009 9:40pm
guys this is why ive been holding onto my sells.

i will try and get into another position, ive been shorting this all well really and holding onto them, i will put u guys onto a position if i can tonight.
  • #860
  • Mar 11, 2009 11:24pm Mar 11, 2009 11:24pm
im selling at 13352.. no stops yet .. holding this for a while, im already in this shotr from 3 diff positions up top .. keep this in mind .. we are at suppoprt area be careful.. we are going diown but might range a but b4 it happens
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