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  • #10,441
  • Apr 1, 2009 9:38pm Apr 1, 2009 9:38pm
Short audjpy around 69.50, lets see how it goes...
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  • #10,442
  • Apr 1, 2009 9:41pm Apr 1, 2009 9:41pm
Talk about sitting on the fence.

The ECB release might just push this over the edge. Short orders are in
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  • #10,443
  • Apr 1, 2009 9:47pm Apr 1, 2009 9:47pm
Short cable at 1.4482
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FF journal: Peaks and Troffs
  • #10,444
  • Apr 1, 2009 10:28pm Apr 1, 2009 10:28pm
Quoting Siam
Talk about sitting on the fence.

The ECB release might just push this over the edge. Short orders are in
I'm long on this since evening, tight stop about 15 pips, seems like not able to break support, but as you say fundamentals may push it thru.
  • #10,445
  • Apr 1, 2009 10:34pm Apr 1, 2009 10:34pm
Quoting bogus
Short cable at 1.4482
Nice one, I had a lines draw at 1.4490-510, highs is 1.4514 so far, may jump in with smaller position since i missed opportunity to enter at 1.4510...
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  • #10,446
  • Apr 1, 2009 10:43pm Apr 1, 2009 10:43pm
Quoting michal7
Nice one, I had a lines draw at 1.4490-510, highs is 1.4514 so far, may jump in with smaller position since i missed opportunity to enter at 1.4510...
Ok, I took this trade because I think it's gonna go down. Very small position though. My entry was 1.4496, so not that bad after all. Let's see...
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  • #10,447
  • Apr 1, 2009 10:54pm Apr 1, 2009 10:54pm
Quoting michal7
Ok, I took this trade because I think it's gonna go down. Very small position though. My entry was 1.4496, so not that bad after all. Let's see...
It started to run up so I closed it pretty soon.
  • #10,448
  • Apr 1, 2009 11:00pm Apr 1, 2009 11:00pm
Quoting michal7
It started to run up so I closed it pretty soon.
Just checked back and Im stopped out too.
FF journal: Peaks and Troffs
  • #10,449
  • Apr 1, 2009 11:01pm Apr 1, 2009 11:01pm
Looks like this one is breaking support
  • #10,450
  • Apr 1, 2009 11:05pm Apr 1, 2009 11:05pm
Quoting bogus
Just checked back and Im stopped out too.

I just like to note here that this was a good example of importance of hourly closes. I opened at 1.4496, it went down a bit(about 8pips), then started to run up with quite strong momentum so I closed manually at 1.4522. Hourly close was 1.4531 which was a signal that resistance is breaking. Now 5 minutes after hourly close price is already at 1.4560...
  • #10,451
  • Apr 1, 2009 11:30pm Apr 1, 2009 11:30pm
Ok I'm in.

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  • #10,452
  • Apr 1, 2009 11:38pm Apr 1, 2009 11:38pm
Quoting Ferrari
Ok I'm in.

Attachment
Cool, so I'm not alone :-) Guess you have about 10 pips better entry... Mine is 69.50...

Any thoughts on this trade? I'm only a bit worried about the fact that audusd has some pips to go to it's resistance but let's see, jpy may be getting stronger now... Do you consider this correlation at all?
  • #10,453
  • Apr 1, 2009 11:39pm Apr 1, 2009 11:39pm
Quoting michal7
I just like to note here that this was a good example of importance of hourly closes. I opened at 1.4496, it went down a bit(about 8pips), then started to run up with quite strong momentum so I closed manually at 1.4522. Hourly close was 1.4531 which was a signal that resistance is breaking. Now 5 minutes after hourly close price is already at 1.4560...
Did you not play (short) the initial shot up to 1.4515?

That's where the original entry should have been or close to it...by the time you entered at 1.4496, price had already retraced some 20 points...then moved further down to 1.4475-8, allowing a total full 40-45 point retrace from top to bottom. It's my understanding that you entered after this retrace?
  • #10,454
  • Apr 1, 2009 11:43pm Apr 1, 2009 11:43pm
Quoting michal7
I just like to note here that this was a good example of importance of hourly closes. I opened at 1.4496, it went down a bit(about 8pips), then started to run up with quite strong momentum so I closed manually at 1.4522. Hourly close was 1.4531 which was a signal that resistance is breaking. Now 5 minutes after hourly close price is already at 1.4560...
Hourly closes are important and I'm a big fan but in this case you got run over by the House price data release that came out at 7am.
  • #10,455
  • Apr 1, 2009 11:43pm Apr 1, 2009 11:43pm
This is a nice example of 15 min eurjpy breakout. I made 17 pips the first time, and am in profit again, hope it continues. I am in this because pound and eurusd going up too.If you remember yesterday I said eurusd looked up to me and I had a nice trade, It is still on its way to my target and I wouldnt be surprised to see it get there, albeit without me as I took good profit and left.
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  • #10,456
  • Apr 1, 2009 11:47pm Apr 1, 2009 11:47pm
You can see it come back to the line, which is a good entry. If it should look like dropping far back through line I just get out. It is a good place to take the trade because you dont leave yourself with a big risk. Sometimes I will use the 5 min chart to guage a turn at the line. I prefer this kind of trade because I am not looking to lose much if it goes against me. If it drops back through line and other charts I am watching look like diving I just jump ship
  • #10,457
  • Apr 1, 2009 11:49pm Apr 1, 2009 11:49pm
Quoting sam0182
Did you not play the initial shot up to 1.4515?

That's where the original entry should have been or close to it...by the time you entered at 1.4496, price had already retraced some 20 points...then moved further down to 1.4475-8, allowing a total full 40-45 point retrace from top to bottom. It's my understanding that you entered after this retrace?
From horizontal trendlines I have drawn on my chart from yesterday my ideal entry would be at 1.4510. On my chart price came to 1.4515 at 4:00am(central europe time), so I was sleeping. If I was not sleeping I would enter about 1.4510 I guess. I entered after I woke up when price came again to my lines. As I noted I opened a SMALL position knowing that I missed first touch.
So yes, I entered after this retrace, but knowing that, it was small position and I closed it only a few pips above high of recent 1.4515.

But does this invalidated what I wrote about importance of hourly closing?
  • #10,458
  • Apr 1, 2009 11:50pm Apr 1, 2009 11:50pm
I had gotten in a little early on last trade, but you can see how the tail of candles and the body of this one is resting on that line. That is what I like to see. The spike through means nothing to me because that is a reversal candle anyway.I would worry if the next short term candle opened up below the line.
  • #10,459
  • Apr 1, 2009 11:53pm Apr 1, 2009 11:53pm
Quoting RedCabbage
Hourly closes are important and I'm a big fan but in this case you got run over by the House price data release that came out at 7am.
I guess I missed that one. Don't see any data release related to GBP or USD at that time... Shame, I would wait with my entry if I knew that...
  • #10,460
  • Apr 1, 2009 11:57pm Apr 1, 2009 11:57pm
Quoting michal7
I guess I missed that one. Don't see any data release related to GBP or USD at that time... Shame, I would wait with my entry if I knew that...
Damn it! I'm an idiot! I was looking at Tue instead of Thu calendar. I guess I need to get my eyes checked.
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