Buy Low xxx Sell High | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Difference between buy/sell stops & buy/sell limits 34 replies

Difference between buy limit, sell limit, buy stop, & sell stop? 4 replies

how to change buy to sell, sell to buy for EA 1 reply

the buy/buy or sell/sell currency broker?? 5 replies

I am looking for EA to put Buy Stops, Buy limits, Sell limits, and Sell Stops. I will 0 replies

Attachments: Buy Low xxx Sell High
Exit Attachments

Buy Low xxx Sell High

  • #1
  • First Post: Edited 10:45am Jun 17, 2009 12:23am | Edited 10:45am
This thread is intended to be the trading journal of Sleep1Iopen. I have found that keeping a journal is one of the most beneficial tools a developing trader can have.

If you do plan to post here please show evidence of your ideals; whether trading opinions or otherwise. So, please keep it simple and professional.

Trade At Your Own Risk

It's not about proving your right - just about taking profits!
  • #2
  • Edited 1:54am Jun 17, 2009 12:28am | Edited 1:54am
Took a long on gbp/jpy looking for about 100 pips. Had a cross of 3ema and 34sma on 15min. Woodies breaking 0 line on 15min with clear trading above 0 line on 5 min. Support confirmed for now at 157
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp.jpy.jpg Size: 102 KB
Click to Enlarge Name: gbp.jpy 5min.jpg Size: 103 KB
  • #3
  • Jun 17, 2009 12:40am Jun 17, 2009 12:40am
Quoting sleep1Iopen
Took a long on gbp/jpy looking for about 100 pips. Had a cross of 3ema and 34sma on 15min with support confirmed for now at 157
Moved stop loss to break even as this is a scalp and the market looks ominous and quite bearish since yesterday's move.
  • #4
  • Jun 17, 2009 1:23am Jun 17, 2009 1:23am
Quoting sleep1Iopen
Moved stop loss to break even as this is a scalp and the market looks ominous and quite bearish since yesterday's move.
That was a fairly painless scalp for 72 pips. On to the next.
  • #5
  • Jun 17, 2009 2:20am Jun 17, 2009 2:20am
Broke our interim trend line and pressing lows again. Awaiting a MA cross on 15min with 5min confirming a sell. 1h - 4h trend line is still valid for fresh short entries as seen with the close touch at 159.30. Woodies CCI is showing signs of bearish movement on small time frames for good attempts at shorts from here with stops above 159.30 and targeting new daily lows. I'm looking to see 155 - 153 sometime soon. Below there is previous resistance, now support, at 151.

I'm off to bed and still holding shorts from 2 weeks ago at 157.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp.jpy 5min.jpg Size: 105 KB
Click to Enlarge Name: gbp.jpy 15m.jpg Size: 93 KB
Click to Enlarge Name: gbp.jpy h1.jpg Size: 121 KB
  • #6
  • Jun 17, 2009 9:58am Jun 17, 2009 9:58am
Took a short yesterday afternoon on usd/jpy as the whole thing just looks bearish from the Monthly on down to the 15min. 3 lower highs on the daily at monthly trend line. This is selling blindly, especially if 93.50 gives out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usd.jpy h1.jpg Size: 105 KB
Click to Enlarge Name: usd.jpy daily.jpg Size: 99 KB
Click to Enlarge Name: usd.jpy monthly.jpg Size: 99 KB
  • #7
  • Edited 11:12am Jun 17, 2009 10:23am | Edited 11:12am
Quoting sleep1Iopen
Broke our interim trend line and pressing lows again. Awaiting a MA cross on 15min with 5min confirming a sell. 1h - 4h trend line is still valid for fresh short entries as seen with the close touch at 159.30. Woodies CCI is showing signs of bearish movement on small time frames for good attempts at shorts from here with stops above 159.30 and targeting new daily lows. I'm looking to see 155 - 153 sometime soon. Below there is previous resistance, now support, at 151.

I'm off to bed and still holding shorts from 2 weeks ago at 157.
155 area was hit so closed all shorts on gbp/jpy for now for about an average profit of 174 pips. Possibility of taking fresh shorts on pullbacks or a break of 154.85.
  • #8
  • Jun 17, 2009 11:08am Jun 17, 2009 11:08am
Quoting sleep1Iopen
Took a short yesterday afternoon on usd/jpy as the whole thing just looks bearish from the Monthly on down to the 15min. 3 lower highs on the daily at monthly trend line. This is selling blindly, especially if 93.50 gives out.
Closed a portion to take some profit for 66 pips and still holding strong as this is a long term play.
  • #9
  • Jun 17, 2009 11:34am Jun 17, 2009 11:34am
Quoting sleep1Iopen
Took a short yesterday afternoon on usd/jpy as the whole thing just looks bearish from the Monthly on down to the 15min. 3 lower highs on the daily at monthly trend line. This is selling blindly, especially if 93.50 gives out.
Still showing signs of bearish price action / continuation on 5min with resistance on slow moving averages.
Attached Image (click to enlarge)
Click to Enlarge Name: usd.jpy 5min.jpg Size: 97 KB
  • #10
  • Jun 17, 2009 12:23pm Jun 17, 2009 12:23pm
Looks like we have a slowdown so I'm done for the day.
  • #11
  • Jun 17, 2009 5:49pm Jun 17, 2009 5:49pm
Opened fresh short on GBP/JPY as previous intra-day support zone of 157 has now turned into resistance. Might be looking to hold this one if today's low is broken and 154.68 is also broken to target 151.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.jpy 30m.jpg Size: 103 KB
  • #12
  • Jun 17, 2009 5:54pm Jun 17, 2009 5:54pm
Quoting sleep1Iopen
Opened fresh short on GBP/JPY as previous intra-day support zone of 157 has now turned into resistance. Might be looking to hold this one if today's low is broken and 154.68 is also broken to target 151.
15 minute is showing signs of bullishness and technical signals for entry from indicators are not there. The sell is a play on Support turned Resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: gbp.jpy 15m.jpg Size: 108 KB
  • #13
  • Jun 17, 2009 6:27pm Jun 17, 2009 6:27pm
Quoting sleep1Iopen
15 minute is showing signs of bullishness and technical signals for entry from indicators are not there. The sell is a play on Support turned Resistance.
Dumped the short as the 15m setup wasn't there. -21 pips.
  • #14
  • Jun 17, 2009 11:21pm Jun 17, 2009 11:21pm
Quoting sleep1Iopen
Dumped the short as the 15m setup wasn't there. -21 pips.
Lets try this one more time. 15min entry is lining up with MA's crossed and Woodies CCI crossing below zero line with strength. Nice resistance too with 3 lower highs in the last couple hours.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp.jpy h1.jpg Size: 114 KB
Click to Enlarge Name: gbp.jpy 15m.jpg Size: 96 KB
  • #15
  • Edited Jun 18, 2009 2:56pm Jun 17, 2009 11:29pm | Edited Jun 18, 2009 2:56pm
Sell stop in on USD/JPY to target fresh monthly lows. Closed other USD/JPY sell after seeing support built at 95.50.
Attached Image (click to enlarge)
Click to Enlarge Name: usd.jpy 4h.jpg Size: 120 KB
  • #16
  • Edited 2:57pm Jun 18, 2009 10:53am | Edited 2:57pm
Ended up closing out for a small gain of 24 pips. I really thought this one was going to break the 154.85 level but it showed me. This proves that taking profits is more important than what you think is going to happen.

Played this one quite wrong but it is what it is. On to the next.
  • #17
  • Jun 18, 2009 4:26pm Jun 18, 2009 4:26pm
Euro is getting really close to choosing a direction. We've had 3 lower highs signaling bears are in charge for the month of June thus far.

1.4325 was the last harmonic line and could take some time to break. When it does we'll see a retest of 1.6.

For now if 1.3700 is broken then we could see a fairly quick retest of 1.30-1.33.

Note that 1.3750 is 38.2% retracement zone from April - June bull move.

Hope this info clears up direction for any of you.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: euro h1.jpg Size: 100 KB
Click to Enlarge Name: euro h4.jpg Size: 107 KB
Click to Enlarge Name: euro weekly.jpg Size: 121 KB
  • #18
  • Jun 18, 2009 6:05pm Jun 18, 2009 6:05pm
Price action has broken the bearish trendline after finding support at 155. I'll be standing aside here as 162 is close to the 50 SMA and hitting a harmonic level on monthly/weekly charts. I expect the 160 zone to have some resistance but unclear from there at the moment. Might be a great place to attempt a structural short going in to Q3.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gbp.jpy h4.jpg Size: 100 KB
Click to Enlarge Name: gbp.jpy weekly.jpg Size: 100 KB
  • #19
  • Jun 18, 2009 6:11pm Jun 18, 2009 6:11pm
Quoting sleep1Iopen
Euro is getting really close to choosing a direction. We've had 3 lower highs signaling bears are in charge for the month of June thus far.
1.4325 was the last harmonic line and could take some time to break. When it does we'll see a retest of 1.6.
For now if 1.3700 is broken then we could see a fairly quick retest of 1.30-1.33.
Note that 1.3750 is 38.2% retracement zone from April - June bull move.
Hope this info clears up direction for any of you.
If there was a place to attempt a short on the Euro it's coming up. If resistance is found from here up to 1.3950 then it's coming down. 15min chart confirms the setup with MA's crossed and Woodies CCI in negative territory.

Current zone is yesterday's support now turned resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: euro 15m.jpg Size: 99 KB
  • #20
  • Jun 18, 2009 7:12pm Jun 18, 2009 7:12pm
Quoting sleep1Iopen
If there was a place to attempt a short on the Euro it's coming up. If resistance is found from here up to 1.3950 then it's coming down. 15min chart confirms the setup with MA's crossed and Woodies CCI in negative territory.

Current zone is yesterday's support now turned resistance.
We're in......Let's see if we can catch a run.
Attached Image (click to enlarge)
Click to Enlarge Name: euro 15m.jpg Size: 102 KB
0 traders viewing now