Cool Runnings intraday swing trading

Will do Links! It will come. You're doing the same as me with the websites. Let me know if I can help with the websites.... I'm new at it so not sure how helpful I would be. I'd just like a steadier stream of income, that is something I don't stress over. I had a very good year last year, but it also took a lot out of me, no sleep and gained about 30 pounds....... I will need those titanium matchsticks later! See you tomorrow!

Looking at the GBPJPY, it has traded a range of 157 and 155.50 (Psyche levels). A squeeze has formed, not as strong as I'd like see, but it is a clear tightening of the range. I'm going to try and post this quickly, as the moves have happened about this hour, this week, when it normally happens an hour or two later. Once a clear break of the blue consolidation lines has occurred, watch for S/R at 157 and 155.50.

This can sometimes be a nice break to watch for. See the downward pressure being applied to the 1.61 level? Watch for a steady move on a break downward. There might be some resistance at 160.81, could possibly bounce, but more often than not, it should make a move down. Remember, profit is profit. Looks like it is breaking now, but just keep an eye on it.

Not liking the PA right now. If you entered, keep stops tight, just above the trendline break. Possible confimation of a move would be a break of 155.50. With this PA, I think I'd like to see that happen first. Watch for the candle to brek the blue line, and hold below it. Right now, it is bouncing above and below. The next hour, ususally picks up.

Watch for support at the weekly pivot at 1.6049, and then again at 1.60

Visible support at 155, 154.50 and 153. 50. Weekly pivot at 153.21.

thanx FX Dad for useful info.

That was a week run, I decided to B/E on the GBPJPY and closed with 40 after the Cable bounced off the weekly pivot. If you feel comfortable with where your stops are, I think it is still OK to hold. Just watch the USDJPY for direction too. Sometimes it will move before the other 2 pairs. Action should pick up again in the next hour or two.

I spent the day with my kids today, and didn't get much sleep last night. Don't know how much longer I will hang in. Watch the 155.50 and the 1.61, and any reaction off the trendlines. They may push down again. Today is Non Farm Payroll. The biggest news event in Forex, so be careful, UDS crosses and any others, as Risk aversion/appetite can also enter the picture, especially if the actual numbers are off the projected numbers. 520k jobs lost is the expected number.

Hey! Thank you! New screen name I haven't seen. Always welcome.

I have been watching this set up tonight, but the EURCHF is usually a slow mover, so I didn't post it, because most of us are the high octane junkies on the GBPJPY. It set up nice and makes for a good chart, so I wanted to post it. It is a great example of something to watch for, going up or down.

See all the PA stacked up along the 1.5163 line? Then, the candles pushed up tighter against it and got smaller and smaller. This is a great sort of break to watch for on any pair.

I was sleeping with one eye open and had to come look at the charts to see how they were doing. PA looks good on both, but slowing a bit. Opportunity to clear 50 pips on each. If I'm not back later, I hope you all have a great weekend. Take Care,

Chuck

Those boys will surely wear you out fast Chuck, get some sleep. Been studying your charts and posts earlier and can really see what you mean.....is that a light I can see? Really appreciate your help and comments, I will get your hdcp down to 12 in return! Looked back over this weeks charts and found similar looking set ups... mmm interesteing!

When you get a moment can you explain your thoughts on PA please. I remember you saying about watching it whipsaw around the breaking point before moving properly. How far do you wait for it to be confirmed, do you look at shorter time frames? Sometimes it breaks and quickly reverses what gives you that indication? Do you look for a quick break or a slower smoother action, nope I'm talking about bedroom action with Taya! I know you like to talk and type, wanted to keep you on your toes and give you something to do!

Have a great wkend with the boys catch you next week. Brian

Hey Brian! I experimented with making a video, going over charts from Friday. I addressed a question someone posed about placing stradle orders on news events, and then went over the breaks I charted on Friday. They're posted on the blog. Let me know what you think.... be honest. Brutally so, if need be! I recorded it all at once, and then realized it was too large a file, and then I had to tutor myself real fast in WIN MovieMaker. LOL! So I learned how to split and edit, so that was interesting. In the second video, about Consolidations, I talked a bit about what I was watching for. Honestly, it is something hard to explain. It comes with watching for hours and hours, and learing it's habits. I like watching the 1H charts, and very rarely do I look at the smaller compression charts, ie. 5M, 15M. Usually I just confuse mysef. I will look at the smaller compressions to see when a move might be slowing down, to decide when to close a trade, but almost exclusively 1H for entries. Just a quirk of mine.... most traders prefer looking at smaller time compression charts for short term PA.

As for my weekend. My kids are with their mom now. Actually they are a boy and a girl. Son, Brentton, is 9. My daughter, Kai is 6, going on 16. I'm going to include one of my favorite pics of us, I took Summer 2007. I think maybe you thought she was a boy by the foto on my profile. She had her hair back in a pony tail. That was actually her 5th birthday, we were on the way to her moms for her party. My sleep clock is on Asian time, so when the kids are here, I'm on the computer, while they sleep. When I'm about to fall asleep, she wakes up. My daughter starts with, "Daddy! It's morning! Time to make me breakfast!" So, I never sleep, accept for a nap here and there.

As for my Taya, I don't kiss and tell... unless we are at the pub, and I've had a couple shots of good Tequila, and washed 'em down with a couple pints!

Hope you had a great weekend too. I'd be happy to earn that lower handicap in my golf game!

Hello Everyone,

Hope you all had a great weekend. As some of you know, I'm not a big fan of forcing trades on Monday, unless there is a clear set-up. No set-ups forming yet, as it is still early. What I'm watching right now is if and how the GBPJPY settles into a range of 157-158. Looking to see if the GBPUSD stays below 160.30, which held for a few hours as support, and then became a resistance level after NFP. 1.5970 is where the GAP started, then closed the gap, and has shown resistance for the past 3 hours. This will be the level to watch for now. In the EURUSD, I'm watching 1.40, and watching to see if it holds, bounces, or breaks.

I'll check back in later.

GBPUSD has been following Friday's trendline down and has yet to get back to 1.5970, but now is threatening to break above the trendline now. PA is slow, but it is Monday.

GBPJPY, after staying above Friday's trendline, following NFP, has since taken a dive under the trendline, also below the 157, and recently took a bounce off of the 156.50. One of the readers, joked with me about my affection for the psyche levels on the GBPJPY. Well, if you look at most of the S/R levels, 158, 157.50, 157, 156. 50, etc. on this pair, they are very reliable, more so than on any other pair.

EURUSD is still shying away from 1.40.

Of note, the AUDUSD is starting to form a wedge, with .8080 as resistance. (Ooops! I meant .7980... sorry)

EURJPY, was ranging a bit befor the NFP spike,and then again, after the spike between the Daily and weekly pivot. Near closing on Friday it spiked up to 138.15 and has started to consolidate between the weekly pivot and today's open at 137.36. Something to watch... PA is still very slow, and I'm not going to force any trades.

All the aforementioned pairs are moving down. I think it will continue today.

On the AUD, I typed the wrong number.... I meant .7980, and not .8080. I drew the wedge I was talking about, and will post it so you can see it. Sorry if I confused anyone.

Bit late getting started this morning, who loves Mondays! Thanks for posting the piccy Dad, looks great a real proud Dad! Sorry for getting confused about your kids, got it now! Hope you had a fun time with them, my girls are both grown up the ages yours are are real fun. Will send you some of mine do I have your email addy?

Will have a look at your blog this morning and report back, technology is geat isn't it once you have it under control. Having a quick look at the charts, seems there was one of your wedges I just missed on the EUR/YPN, if i'm looking at it correctly.

hi fxdad

had a look at the videos on the blog ,well done,u r learning quick on how to make videos

john