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Cool Runnings intraday swing trading

  • #1,541
  • Jun 22, 2009 2:08am Jun 22, 2009 2:08am
Listening to Bloomberg News, World Bank forecasts were not great. Trichet made some comments over the weekend that may point toward Risk aversion today. Trichet just took the stage and is at the mic.

Have a good day everyone!
  • #1,542
  • Jun 22, 2009 2:17am Jun 22, 2009 2:17am
Quoting FX Dad
If there isn't a break and hold of 157.50 on the GBPJPY, and 133 on the EURJPY, after the first 10 minutes of the next hour, I think it might retrace a bit, maybe back to the top of the Range. Of Course, it also depends on what Trichet has to say.

I have no open trades, so I may go to bed now folks. My kids will have me awake too early. 2am my time. Trade Safe!
OK... I'm a chart Junkie, I can't stop watching! GBPJPY made a nice quick 50 pip retracement, finding resistance at the 158. EURJPY is slow to move because all ears are on Trichet. EUR should be following the GBP, but Trichet is holding it up. Politicians!!!!!!!!!!!
  • #1,543
  • Jun 22, 2009 3:54am Jun 22, 2009 3:54am
morning all.... no trades for me today, missed a long entry on usd/cad which would have been nice start to the week but no worries there's always more.

hope everyone had a pleasant weekend
  • #1,544
  • Edited 11:41pm Jun 22, 2009 6:37pm | Edited 11:41pm
As you know, I like playing the setups that I do, going into the opening of Tokyo and London. I wasn't around the comp, but just looked at it to see these. Pretty clear. Good moves for Tokyo session.

I'll check in later
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  • #1,545
  • Jun 23, 2009 12:25am Jun 23, 2009 12:25am
The 155.50 level is getting hammered. Might make a break up, but I'd consider it a retracement. Fib and the blue trendline suggest about a 75 pips to the .25-.35 area. The past 7 days, it has been trading down.

Just thought I'd point that out. You know how I like the breaks of psyche levels, especially when is gets hammered for a few hours.

New Video posted. Just a review of what I missed in Tokyo session, and what I'm seeing going into London.... Just a lot of ranging. I'm sounding rather tired and very boring on the vid!!! LOL! I'm out of energy guys. I need to get my schedule in order. With the kids being out of school for summer, my schedule is all wrong for Forex.
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  • #1,546
  • Jun 23, 2009 5:40am Jun 23, 2009 5:40am
You sure sound tired Dad but videos very helpful better than just posts, thanks. Did catch GJ and EJ both around midnight here also UJ had similar move. Get some sleep!!
  • #1,547
  • Jun 23, 2009 11:37am Jun 23, 2009 11:37am
Quoting LinksMan
You sure sound tired Dad but videos very helpful better than just posts, thanks. Did catch GJ and EJ both around midnight here also UJ had similar move. Get some sleep!!
Hey LInks!

You caught the wedge break and the consolidation break? Great! They were nice setups.

The ranges I discussed on the vid with the EURUSD and the USDCHF also made nice breaks too.

I'm going to make another post, and then see if my Little Princess, Kai (my 6 year old), will let me take nap! Hope your weeekend was good Links! You still living single? Girlfriend still in the States?

Cheers!
  • #1,548
  • Edited 11:51am Jun 23, 2009 11:48am | Edited 11:51am
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Quoting FX Dad
The 155.50 level is getting hammered. Might make a break up, but I'd consider it a retracement. Fib and the blue trendline suggest about a 75 pips to the .25-.35 area. The past 7 days, it has been trading down.

Just thought I'd point that out. You know how I like the breaks of psyche levels, especially when is gets hammered for a few hours.

New Video posted. Just a review of what I missed in Tokyo session, and what I'm seeing going into London.... Just a lot of ranging. I'm sounding rather tired and very boring on the vid!!! LOL! I'm...
The retracement I talked about took some time to develop, and actually formed a wedge to the downside. I was getting ready to write a post about the wedge, and it then broke really fast to the upside. I entered on a break of 155, and put my TP at 155.85, because I went to bed. Move happend so quick, I didn't have time to make the post. It found some resistance at .85, but then in went up to the next Fib at 156.60. Nice 200 pip move, though I only grabbed 85 of it.
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  • #1,549
  • Jun 23, 2009 3:02pm Jun 23, 2009 3:02pm
Quoting FX Dad
Attachment

The retracement I talked about took some time to develop, and actually formed a wedge to the downside. I was getting ready to write a post about the wedge, and it then broke really fast to the upside. I entered on a break of 155, and put my TP at 155.85, because I went to bed. Move happend so quick, I didn't have time to make the post. It found some resistance at .85, but then in went up to the next Fib at 156.60. Nice 200 pip move, though I only grabbed 85 of it.
Hi again FX Dad,

I would like to know how do you know when to enter, having identified the squeezes and wedges. Especially in this case, how could u tell that the current candle being formed was not another spike as the one before.
  • #1,550
  • Jun 23, 2009 3:45pm Jun 23, 2009 3:45pm
Quoting Jermy365
Hi again FX Dad,

I would like to know how do you know when to enter, having identified the squeezes and wedges. Especially in this case, how could u tell that the current candle being formed was not another spike as the one before.
On this particular candle, it was the steady speed in which it moved up, and the break of 155. It was s decisive move. It wasn't up down up down up down. I think getting a grasp of PA, just comes with the hours and hours of watching charts. It was planned ahead of time also, that I was going to enter a buy if and when this candle broke 155, and I was going to set my stop just below 154.60. It moved so fast and steady, that I didn't even set my stop there, I ended up setting my stop at B/E when it got above 155.50. I rarely leave trades open, but I was so tired, I set my TP at 155.87, and went to bed.

I'm going to go over it on a vid. Easier than all the typing.
  • #1,551
  • Jun 23, 2009 4:35pm Jun 23, 2009 4:35pm
Quoting Jermy365
Hi again FX Dad,

I would like to know how do you know when to enter, having identified the squeezes and wedges. Especially in this case, how could u tell that the current candle being formed was not another spike as the one before.
Hey Jermy,

Video is posted.
You tube will finish processing it shortly.
  • #1,552
  • Jun 23, 2009 4:49pm Jun 23, 2009 4:49pm
Doesn't look anything as obvious as last nights trades to my untrained eye will wait to see what Dad has to say on his next vid. She is on her way back as I type...playtime over!
  • #1,553
  • Jun 23, 2009 6:07pm Jun 23, 2009 6:07pm
Quoting LinksMan
Doesn't look anything as obvious as last nights trades to my untrained eye will wait to see what Dad has to say on his next vid. She is on her way back as I type...playtime over!
Hahahah! Bachelor time is over!

Yeah, yesterday's Tokyo moves was strong and very decisive, well for Tokyo session that is. Today was weak, but on most breaks, 20 pips could have been grabbed.

I'm going of 3.5 hours of sleep. Kids are still here. When the Ex gives me time with them, I take all I can get. Hopefully I'll have a chance to see something develop later and make a post. I know it is 2am in UK now Links, but all the action starts for you between 7-10am! Get some rest!

See you back here in a few hours.
  • #1,554
  • Jun 23, 2009 8:43pm Jun 23, 2009 8:43pm
GBPUSD, EURUSD, and USDCHF are all range bound. AUDUSD is squeezing into a consolidation. Moscow opens soon and may trigger a break on the range bound pairs, especially the EUR. Word on the street is that the Russians have been trading the Euro heavily as of late.
  • #1,555
  • Jun 23, 2009 10:36pm Jun 23, 2009 10:36pm
Hey Fx DAD

Thanks alot. The video was great. I guess Im will have to develop a feel for PA over time 1st. Thanks
  • #1,556
  • Jun 23, 2009 11:28pm Jun 23, 2009 11:28pm
Quoting Jermy365
Hey Fx DAD

Thanks alot. The video was great. I guess Im will have to develop a feel for PA over time 1st. Thanks
Or Jermy, just look at a setup, when you think it is making a good break, just place a reasonable stop, in a logical place. If there isn't a prior S/R level, pivot, or Fib (if you use them), that is close, then don't take the trade. Thats the great thing aobut FX, there will always be another trade.

Cable is making abreak, and EUR and CHF looks like they are about to follow. Key levels are 1.0650 for the CHF, and 1.41 for the EUR.
  • #1,557
  • Jun 24, 2009 2:37am Jun 24, 2009 2:37am
Quiet night? I just woke up. Trying to catch up on some sleep. The Cable made a decent break out of the range, but the EUR and CHF were short.

Looking at the GBPJPY, if you look back to the begininning of last week, it is now trending down. The highs are getting lower and so are the lows. After the last hour's spike, then fall, it just can't seem to get up enough steam to hit 158. It may get stuck in a range between .42 and 158. So watch for a break to either side. Important news coming out on the GBP in 24 minutes so be aware. That is when a break could happen. Some Retail and Wholesale figures. For the noobs, news effects the currencies when the news is worse or better than the forecasted numbers. See the fron page of FF and see the news schedule.

Heading back to catch up on sleep. Trade safe!
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  • #1,558
  • Jun 24, 2009 3:07am Jun 24, 2009 3:07am
Quoting FX Dad
Quiet night? I just woke up. Trying to catch up on some sleep. The Cable made a decent break out of the range, but the EUR and CHF were short.

Looking at the GBPJPY, if you look back to the begininning of last week, it is now trending down. The highs are getting lower and so are the lows. After the last hour's spike, then fall, it just can't seem to get up enough steam to hit 158. It may get stuck in a range between .42 and 158. So watch for a break to either side. Important news coming out on the GBP in 24 minutes so be aware. That is when a...
The numbers released were as expected on the GBP news, so no drive on the PA. Now, I'm going to sleep. Have good one everybody!
  • #1,559
  • Jun 24, 2009 3:16pm Jun 24, 2009 3:16pm
No decisive setups on the GJ going into Tokyo. It'ss not really finding a decisive range, and it isn't squeezing.

There are consolidations forming on the AUDUSD and the USDCHF,

Video is posted, but give it a few minutes from now, as it is uploading to youtube. The clarity of the picture is much better after it fully uploads.

What is setting up that wasn't so clear as I was recording the video, is a Consolidation forming on the Cable and the EURUSD. Consolidations for this time of day are normal, because there are no major markets open. NY closed 2 hours ago, so the volume decreases, and so does the swing in prices, so they start to squeeze. Once Tokyo opens, price needs to move somewhere so, they will break, it is just a matter of "how far." This is the reason I like trading the openings of the major markets. You know the prices will move, and if it is in a tight range or a squeeze, you can expect a break. It is just a matter of "when" and "how far."

JPY Trade Balance coming out later, so be aware.

See you later.
  • #1,560
  • Jun 24, 2009 11:19pm Jun 24, 2009 11:19pm
Hey guys, just posted a preview of London. Breaks discussed have started..... I need to work on my timing on getting the video out.
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