DislikedStill watching for breaks to the downsideon the GBPJPY, EURJPY, and AUDUSD. Watching for range breaks on the EURUSD and USDCAD .
GBP PPI out in a few minutes.Ignored
Cool Runnings intraday swing trading
Hey Guys!
Video has been posted reviewing the Free live trade room session from yesterday.
London could be quiet, in anticipation of NonFarm data. ADP was worse than fore casted. I believe the numbers will be better than expected tomorrow, because these past few months have been bogus in my opinion. So, if numbers are better expected, then risk appetite should be the way of the FX market, but you never know...... I will stay away from it more than likely. If numbers are really strong and equities take off, then I may think twice about it...
- #1,847
- Aug 10, 2009 4:02am Aug 10, 2009 4:02am
Sorry guys.... Feeling a bit lazy
, so this is a partial cut and paste from the blog:
Before adjusting my Forex Trading parameters, as PA (price action) changed entering the summer trading sessions, Consolidation Squeeze Breaks, and S/R Squeeze Breaks were my "bread and butter" trades. As summer trading began, squeezes weren't developing, as they had been, and if they did form, it was either at the wrong time, or they just did not make decisive breaks as they normally did. (By the "wrong time" I meant that they weren't setting up during the optimum time I like to trade these setups, which is near the opening of the Tokyo session, and the London sessions.) So I have not been trading these setups since the end of June, unless they break out of a squeeze at a major S/R level. For this reason, I did not take any trades on today's squeeze breaks, but they did set up nicely, so I thought I would point them out, as they may start returning to their normal patterns again, with summer coming to a close.
Why did I not trade these setups today? There are a few reasons:
1. The week is just starting, and after the hype of the NFP move on Friday, I just wanted to watch and see how the market was settling in to start the week.
2. The breaks occurred an hour earlier than I like for these setups to break. I usually like them to break during the hour before, or during the first hour of the London session.
3. Since June, trading Consolidation Squeeze Breaks, and S/R Squeeze Breaks, have not been a part of my trade plan. I will play a break if it is setting up near a major S/R line. This is why, in the prior post, I said that I was watching for a break of 1.6717 on the Cable for a BUY entry, because it would have been a break out of a squeeze, and a break of a major S/R level.
, so this is a partial cut and paste from the blog:Before adjusting my Forex Trading parameters, as PA (price action) changed entering the summer trading sessions, Consolidation Squeeze Breaks, and S/R Squeeze Breaks were my "bread and butter" trades. As summer trading began, squeezes weren't developing, as they had been, and if they did form, it was either at the wrong time, or they just did not make decisive breaks as they normally did. (By the "wrong time" I meant that they weren't setting up during the optimum time I like to trade these setups, which is near the opening of the Tokyo session, and the London sessions.) So I have not been trading these setups since the end of June, unless they break out of a squeeze at a major S/R level. For this reason, I did not take any trades on today's squeeze breaks, but they did set up nicely, so I thought I would point them out, as they may start returning to their normal patterns again, with summer coming to a close.
Why did I not trade these setups today? There are a few reasons:
1. The week is just starting, and after the hype of the NFP move on Friday, I just wanted to watch and see how the market was settling in to start the week.
2. The breaks occurred an hour earlier than I like for these setups to break. I usually like them to break during the hour before, or during the first hour of the London session.
3. Since June, trading Consolidation Squeeze Breaks, and S/R Squeeze Breaks, have not been a part of my trade plan. I will play a break if it is setting up near a major S/R line. This is why, in the prior post, I said that I was watching for a break of 1.6717 on the Cable for a BUY entry, because it would have been a break out of a squeeze, and a break of a major S/R level.
- #1,848
- Aug 10, 2009 9:27am Aug 10, 2009 9:27am
Sorry guys.... Feeling a bit lazy
Before adjusting my Forex Trading parameters, as PA (price action) changed entering the summer trading sessions, Consolidation Squeeze Breaks, and S/R Squeeze Breaks were my "bread and butter" trades. As summer trading began, squeezes weren't developing, as they had been, and if they did form, it was either at the wrong time, or they just did not make decisive breaks as they normally did. (By the "wrong time" I meant that they weren't setting up...
A follow up video has been posted to elaborate a bit more on these formations. This Video is not the "Featured Video", but the video posted just under it.
- #1,851
- Aug 10, 2009 11:44am Aug 10, 2009 11:44am
- | Joined Aug 2008 | Status: Trader | 1,210 Posts
Never sell @ lower upward channel unless breacked and vise versa .
- #1,853
- Aug 10, 2009 1:34pm Aug 10, 2009 1:34pm
- | Joined Aug 2008 | Status: Trader | 1,210 Posts
Never sell @ lower upward channel unless breacked and vise versa .
- #1,856
- Aug 10, 2009 5:51pm Aug 10, 2009 5:51pm
- | Commercial User | Joined May 2009 | 2,210 Posts
looking for long on G/U around 1.6450
- #1,857
- Aug 10, 2009 10:08pm Aug 10, 2009 10:08pm
- | Commercial User | Joined May 2009 | 2,210 Posts
looking for long on G/U around 1.6450
