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Cool Runnings intraday swing trading

  • #1,501
  • Jun 19, 2009 3:53am Jun 19, 2009 3:53am
Looks like the E/J is starting to form a wedge at 135 to me.
  • #1,502
  • Jun 19, 2009 4:06am Jun 19, 2009 4:06am
Quoting LinksMan
Looks like the E/J is starting to form a wedge at 135 to me.
hi linksman

135.50 just watch

john
  • #1,503
  • Jun 19, 2009 4:06am Jun 19, 2009 4:06am
Quoting LinksMan
Looks like the E/J is starting to form a wedge at 135 to me.
It's making a slight consolidation squeeze, that's for sure. I don't like the short candles, but it setting up to do something PA is ugly today. Very indecisive. Maybe because of the Triple Trouble later today.

I did take a buy on the GBPJPY @158.52 when it looked like .50 was going to hold. It didn't, but didn't fall too far and hit my stop under 158. I'm watching this PA off 159, hoping for a break.
  • #1,504
  • Jun 19, 2009 4:08am Jun 19, 2009 4:08am
Quoting desperate
hi linksman

135.50 just watch

john
Yeah John, watch for it to break 135, and keep an eye on the USDJPY to cooperate.
  • #1,505
  • Jun 19, 2009 4:33am Jun 19, 2009 4:33am
Watching Resistance area at 1.6437 area, could dip back here a little.

Pretty good move up so far, yippee.

Cheers
  • #1,506
  • Jun 19, 2009 4:42am Jun 19, 2009 4:42am
Quoting icarusfx
looking at eur/gbp short atm.... needs to break .84880

my one to watch for now

  • #1,507
  • Jun 19, 2009 4:46am Jun 19, 2009 4:46am
Quoting monarch
Watching Resistance area at 1.6437 area, could dip back here a little.

Pretty good move up so far, yippee.

Cheers
Monarch,

Thanks for the vote yesterday! Really appreciate it.

I got to 100 pips on the GBPJPY and took it! I will end my week with that! Getting near my bedtime. Good to have you on the post! Glad to see Tatton back too. Have a great weekend!
  • #1,508
  • Jun 19, 2009 4:47am Jun 19, 2009 4:47am
Quoting icarusfx
Good move Ic! Keep on Pippin Buddy!
  • #1,509
  • Jun 19, 2009 4:49am Jun 19, 2009 4:49am
Quoting monarch
Watching Resistance area at 1.6437 area, could dip back here a little.

Pretty good move up so far, yippee.

Cheers
Took short at 6437, had rejection on 15 min candle and cleared 10 pip scalp.

All in a Bull Move, I am not a London trader so I feel fortunate, I have no problem during the Asia doing these type of setups, so off to rest I go.

Is there a possiblity that GU will finally reach the 1.700-1.7149 area in the next week or so? I am bias SHORT when we reach that point, and will short pretty strong at that time.

CHeers
  • #1,510
  • Jun 19, 2009 4:56am Jun 19, 2009 4:56am
Quoting FX Dad
Monarch,

Thanks for the vote yesterday! Really appreciate it.

I got to 100 pips on the GBPJPY and took it! I will end my week with that! Getting near my bedtime. Good to have you on the post! Glad to see Tatton back too. Have a great weekend!
I have really enjoyed your post and also the blog you have, sometimes as a trader we develop certain styles and techniques, and it is good to be renewed by other traders who have great ideas.

I have not been around forex factory much, but I am hoping to lurk a little, but not post too much.

Rest well, I should be in bed also, it is 3 am here now.

Cheers
  • #1,511
  • Jun 19, 2009 4:59am Jun 19, 2009 4:59am
Quoting monarch
Took short at 6437, had rejection on 15 min candle and cleared 10 pip scalp.

All in a Bull Move, I am not a London trader so I feel fortunate, I have no problem during the Asia doing these type of setups, so off to rest I go.

Is there a possiblity that GU will finally reach the 1.700-1.7149 area in the next week or so? I am bias SHORT when we reach that point, and will short pretty strong at that time.

CHeers
I wish I had a clever response to your Forecast, but I hate to say, I don't look that far ahead, and I should..... laziness on my part. Since I intraday trade, I kinda have tunnel vision. I think 1.7 is going to be a heavy Psyche resistance level, but with Obama's Fed Plans, I'm not sure where sentiment is going to go. Making me a little nervous.

As for London Session! I love it. Maybe you need to live Vampire hours like me!

I see you're in CA. If you are in Monarch Beach, I'm packing my bags and moving in! LOL! I went to Chapman University in Orange. Lived there for 10 years.

Anyway, I will stop hogging all the post time...... Have a great weekend everyone!
  • #1,512
  • Edited 5:19am Jun 19, 2009 5:04am | Edited 5:19am
Quoting FX Dad
I wish I had a clever response to your Forecast, but I hate to say, I don't look that far ahead, and I should..... laziness on my part....
I use to trade 18 hours a day for several years, I finally realized I can make enough pips in Asia when I am sitting around just relaxing.

I have had my eyes set on LONGS from 1.5 to 1.7 on GU, I am now shorting the rally moves, I am a 15 min candle scalper, but I cannot resist what is happening with the pound, so I attack at certain levels that have been historical points in the past, and 1.7 area will have a major bounce down once we reach that level, we were near that on our last move up, so this dip to me is the final stretch towards that move to 1.7 area, in my opinion of course.

Sleep well, chat with you soon

Cheers, Ken

Note: Was expecting UJ to move up here a bit, it is one of the slowest moving pairs LOL
Missed my LONG GJ by a few pips, so I sat there and watched it move to my target once again, I must be tired or something
  • #1,513
  • Jun 19, 2009 5:31am Jun 19, 2009 5:31am
Note: Was expecting UJ to move up here a bit, it is one of the slowest moving pairs LOL

Slowly but surely, LONG Exit after waiting 20 minutes.

Slower pair, smaller target, more patience - Scalpers Nightmare

Note: GU rose to 1.6450, it likes the 50 zones for sure, my 37 resistance still holding, not sure what will transpire up to NY.
  • #1,514
  • Jun 19, 2009 5:33am Jun 19, 2009 5:33am
closed half my position at the support retest moved stop to + pips

regards
  • #1,515
  • Jun 19, 2009 5:35am Jun 19, 2009 5:35am
Quoting icarusfx
closed half my position at the support retest moved stop to + pips

regards
You profited on 1/2 of your position then I would assume, and the remaining 1/2 will be a winner no matter.
  • #1,516
  • Edited 5:45am Jun 19, 2009 5:39am | Edited 5:45am
Quoting monarch
Note: Was expecting UJ to move up here a bit, it is one of the slowest moving pairs LOL

Slowly but surely, LONG Exit after waiting 20 minutes.

Slower pair, smaller target, more patience - Scalpers Nightmare

Note: GU rose to 1.6450, it likes the 50 zones for sure, my 37 resistance still holding, not sure what will transpire up to NY.

hi monarch

usd/jpy res @ 97.26 should give some quick pips once broken.

we'd probably see gbp/usd break 160 then as well.... well maybe lol

sorry should read gbp/jpy break 160
  • #1,517
  • Jun 19, 2009 5:42am Jun 19, 2009 5:42am
Quoting monarch
You profited on 1/2 of your position then I would assume, and the remaining 1/2 will be a winner no matter.

yeah always 2 positions about 1% risk each. I like to lock in 1 and move the other to b/e so yeah 1% profit at least but letting the other run a bit to close by pa mostly

regards
  • #1,518
  • Jun 19, 2009 6:09am Jun 19, 2009 6:09am
Quoting icarusfx
yeah always 2 positions about 1% risk each. I like to lock in 1 and move the other to b/e so yeah 1% profit at least but letting the other run a bit to close by pa mostly

regards
I like your style of exit, can you give a chart or two with your trade setups and how you define your targets, that would be awesome.

Thanks, Ken
  • #1,519
  • Jun 19, 2009 6:38am Jun 19, 2009 6:38am
I notice you post 1Hour charts, do you only trade from this time frame, and do you only trade the setups you have been showing on your blog?

Thanks, Ken
  • #1,520
  • Jun 19, 2009 6:54am Jun 19, 2009 6:54am
Quoting monarch
I notice you post 1Hour charts, do you only trade from this time frame, and do you only trade the setups you have been showing on your blog?

Thanks, Ken
You can't sleep either, eh Ken? LOL. Yeah, 1H. It is what timeframe I did most of my learning on, and now it is the best timeframe, for me, as far as reading PA.

As far as the trades, I have the most faith in the setups I post on the blog and on here. I try to stick with very high probability trades when I trade, and especially if I am going to post them. I know there are a lot of noobs that pass through the threads looking for trade advice, so I'm just trying to keep responsible in that regard. As far as the setups, I think a few of the guys will attest, that when a break occurs on those setups, you can always catch a few pips, 10-20 for sure, most of the time 30-50. That is, quick trades, usually no more than an hour or two. The problem is holding too long, and giving all the pips back, while waiting for the 100 pip moves. I will take the 100+ pip trades when I can get them, but I will try not to let a price reversal, wipe out all my profit. A pip is a pip! I also make most of my trades just an hour or two before Tokyo open, and the same going into London on those setups, because the PA seems to be more favorable, and that is when the "squeezes" occur most often.

Hope this helps!

(You mind if I post this as a Q&A on the blog? I haven't posted to the blog today.)
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