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Cool Runnings intraday swing trading

  • #1,861
  • Aug 11, 2009 6:41pm Aug 11, 2009 6:41pm
Quoting FX Dad
Hey guys,

Trying to type as fast as I can as moves are getting ready to possibly break.

Looking at range breaks on GBPJPY and the EURJPY.

GBPJPY is trying to break .35 but watch resistance at .50.

EURJPY is pushing .97.

Don't expect big moves, watch PA and take profit when you can!

Video is uploading on what we did in the live trade room last night.
Momentum has slowed, for now. Parameters still apply.

Watching for break up on EURJPY and range break on GBPJPY.

Watch for S/R on GBPJPY at .50 on the upside and .80 on a break down. Targets are 40-50 pips.
  • #1,862
  • Aug 11, 2009 6:42pm Aug 11, 2009 6:42pm
Quoting FXAdvice
usually i open 2 position in same time , close one of them on 40 - 50 pips and break even other one for more pips....
Nice Trade Buddy!
  • #1,863
  • Aug 11, 2009 9:40pm Aug 11, 2009 9:40pm
Quoting FX Dad
Momentum has slowed, for now. Parameters still apply.

Watching for break up on EURJPY and range break on GBPJPY.

Watch for S/R on GBPJPY at .50 on the upside and .80 on a break down. Targets are 40-50 pips.
Range break, and target was hit on the GBPJPY. Should think about taking profit, or locking in some pips or B/E by moving your stops.
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  • #1,864
  • Aug 12, 2009 1:25am Aug 12, 2009 1:25am
Sorry to report the the Forex Live Trade Room will be closed today. I'm not feeling well, and would rather have a clear head, as I conduct the room, and make any trades. We will be back tomorrow, same time.

Sorry for any inconvenience.

Video has been posted of what transpired during the Live Trade room session last night, for those who missed it.

Am thinking of a short on the GBPJPY right now at 157.20 with a very tight stop, just in case it takes a bounce off of 157.00. May wait for break of 157, depending on PA.

Also might short the USDCAD if it breaks below 1.0990.

Trade enrty also depends on PA.

Trade Safe!
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  • #1,865
  • Aug 12, 2009 2:06am Aug 12, 2009 2:06am
Sorry to hear that Dad, I know you weren't 100% yesterday, get fit soon. Been really enjoying the trade room this week still learning lots! Not sure if I will be around tomorrow, work calls!
  • #1,866
  • Aug 12, 2009 2:31am Aug 12, 2009 2:31am
Quoting LinksMan
Sorry to hear that Dad, I know you weren't 100% yesterday, get fit soon. Been really enjoying the trade room this week still learning lots! Not sure if I will be around tomorrow, work calls!
No Problem Brian! Glad you can make it to the room!

Now, are you actually working, or working on the golf course?

Take Care Sir! See you soon (in the room)
  • #1,867
  • Aug 12, 2009 2:34am Aug 12, 2009 2:34am
Quoting FX Dad
Sorry to report the the Forex Live Trade Room will be closed today. I'm not feeling well, and would rather have a clear head, as I conduct the room, and make any trades. We will be back tomorrow, same time.

Sorry for any inconvenience.

Video has been posted of what transpired during the Live Trade room session last night, for those who missed it.

Am thinking of a short on the GBPJPY right now at 157.20 with a very tight stop, just in case it takes a bounce off of 157.00. May wait for break of 157, depending on PA.

Also might short the USDCAD...
Hope those of you who took the trade have taken profit when the PA slowed down around .25. Don't let this come back on you and wipe out your profits. Very important news in an hour if you want to risk holding for a possible move. I'm out with 60 pips.
  • #1,868
  • Aug 13, 2009 12:28am Aug 13, 2009 12:28am
Hello Everyone,

I was watching for a break of 158.50, going into the next hour, but it has already made the break.

I like a break of the earlier high on the AUDUSD, around .8364.

Otherwise, will continue to watch how things setup.

Trade room opens shortly.
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  • #1,869
  • Aug 13, 2009 12:42am Aug 13, 2009 12:42am
I'll be a first time viewer of your trading room today, so can't wait to get a little more insight on what a seasoned fx trader looks for.
  • #1,870
  • Aug 13, 2009 6:23am Aug 13, 2009 6:23am
Quoting ChrisDSP
I'll be a first time viewer of your trading room today, so can't wait to get a little more insight on what a seasoned fx trader looks for.
Hello Chris!

I hope you made it in. We had a fun night. Not very productive pip wise, but we were able to do a lot of Q&A.

Hope the rest of you had a pipful day!
  • #1,871
  • Aug 13, 2009 6:26am Aug 13, 2009 6:26am
Quoting FX Dad
Hello Everyone,

I was watching for a break of 158.50, going into the next hour, but it has already made the break.

I like a break of the earlier high on the AUDUSD, around .8364.

Otherwise, will continue to watch how things setup.

Trade room opens shortly.
AUDUSD made the break, but I did not take the trade...... big mistake. I don't know why I hesitated.
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  • #1,872
  • Aug 13, 2009 6:08pm Aug 13, 2009 6:08pm
Quoting biz0101
better to hesitate and not make a wrong trade to live and trade another day. Keep trading your trading system, it's only a matter of time before you're start trading without thinking twice.
Exactly!
  • #1,873
  • Aug 13, 2009 6:45pm Aug 13, 2009 6:45pm
Consolidations are forming across the board, EURUSD, USDCHF, Cable, AUDUSD, but with nothing considerable, as far as what I see, as a clear, high probability trade. I'll keep an eye on PA if there is a break below 1.6550 on the Cable, for a fall down to 1.6500, but will not force a trade.
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  • #1,874
  • Aug 13, 2009 9:45pm Aug 13, 2009 9:45pm
Hi FX Dad,

Yeah I was there for the first half of your session and will be there tonight a little before London's open if your going to be opening it up later.

Thanks for all the knowledgeable insight!
  • #1,875
  • Aug 13, 2009 11:42pm Aug 13, 2009 11:42pm
What I'd be watching would be an approach of 1.6550 on the Cable, and a possible break down to 1.6500.

I also would like to see a break to the downside on the EURUSD. You can see the downward pressure, that has been exerted on the daily and weekly pivot areas through the NY and Asian session to this point, down around 1.4260. 1.4241 could provide some stubborn support, but a break below that would target 1.4200.

A break below 135.50 on the EURJPY, could see a 30 pip move to support at 135.20, then 135.00.

These setups are what I see now, but it is still a bit early. They could break up, in which case, the Trade Plan would obviously be altered. For now, pressure sees to be to the downside.

For those of you have had some time in the Forex Live Trade Room, you know what type of PA to watch for. Please use caution on any trades, and your keep stops tight.
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  • #1,876
  • Aug 14, 2009 7:49pm Aug 14, 2009 7:49pm
Quoting ChrisDSP
Hi FX Dad,

Yeah I was there for the first half of your session and will be there tonight a little before London's open if your going to be opening it up later.

Thanks for all the knowledgeable insight!
Hey Chris!

Thank you. Sorry for the delay in getting there this last session, but I'm glad you were able to use the post to make some pips! See you in the next one!

Have a good weekend.
  • #1,877
  • Edited 9:28pm Aug 16, 2009 3:07pm | Edited 9:28pm
Quoting FX Dad
What I'd be watching would be an approach of 1.6550 on the Cable, and a possible break down to 1.6500.

I also would like to see a break to the downside on the EURUSD. You can see the downward pressure, that has been exerted on the daily and weekly pivot areas through the NY and Asian session to this point, down around 1.4260. 1.4241 could provide some stubborn support, but a break below that would target 1.4200.

A break below 135.50 on the EURJPY, could see a 30 pip move to support at 135.20, then 135.00.

These setups are what I see now, but...
Eventually, these targets were hit sometime during the London session. Cable was a bit sloppy. Hope some of you were able to grab some pips!

Weekend is winding down. I'll check in later If I see anything develops.
  • #1,878
  • Aug 16, 2009 9:31pm Aug 16, 2009 9:31pm
EU Trade Balance comes out later at 10am London, and 5am NY. Something to keep in mind if you have open trades or are going to enter any EUR related trades.
  • #1,879
  • Aug 17, 2009 1:13am Aug 17, 2009 1:13am
Quoting FX Dad
EU Trade Balance comes out later at 10am London, and 5am NY. Something to keep in mind if you have open trades or are going to enter any EUR related trades.
hi fx

how was your weekend,good i hope
  • #1,880
  • Aug 17, 2009 10:13am Aug 17, 2009 10:13am
Quoting desperate
hi fx

how was your weekend,good i hope
Hello Des!

My weekend could have been better. Spent part of it in the Emergency Room at the hospital. My 85 year old dad has had some kidney problems. Thought the problem was getting worse, becasue he complained of bad pains in his lower back. After some X-rays, they found he has a compression fracture in one of his vertibrae. Nothing traumatic, just his old bones getting soft. So he has some pain medicine and is resting.

For me, my time schedule has gotten thrown out of sync. I slept through London session, and I just now woke up. Sorry, I know some were looking forward to the trade room being open. Looking at the charts, there aren't any trades I would have taken. All the pairs broke early, and continued in the same direction, after early Asian Session Trading.

Now I see a consolidation on the Cable at 1.63, and the USDJPY was trading in a range and finaly broke down. USDCAD is putting some pressure on 1.1115.

I'll check back in later. Hope your weekend was good John!

Cheers!
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