I have been staying away from short time frame trading in Asia but when I see a trend like this one its hard not to jump in, bounce off the 16 EMA (MA's are 8,16,43 and 86) wanted to get in at a better price but still was good for a 20 pip profit!
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DislikedHello
Well done Dan, glad to see your in the pips!
I just had the one trade today on the (EUR/JPY) as can be seen on the chart it was nice bounce on the 16 and take profit was 9 pips under the whole number making it + 40 pips, this was against the 1 hour trend which looking at a Cornflower chart is down.Ignored
DislikedJust got another 30 out of AUDJPY.. Bob..using yr Mavs on the 15.. looks like it may keep going on with it actualy..and have taken a possie in the cable..1.6425 on the hr using levers stuff..bit immature yet thou Looks to be a H/S patten on the Hr,.. and bigger picture on the 4.. possibly an inverted H/S patten worth a look..Ignored
Dislikedam short USDCAD.. using Bobs mov av combo on te 15.. bit early but i reckon its a go..based on longer term ..especialy the 4 hr..Ignored
DislikedOK well I spoke to soon when I said I have only been taking one trade a day.
Again on the EUR/JPY, Formed a nice hammer that bounced on the 16 and with the air still clean above I thought 30 pips should be alright. the only thing that proved a small stumbling block was the Daily R1 on the USD/JPY... once it broke that up she went. Take profit was 11 pips under the whole number so +30 ... it was worth leaving the charts on for.Ignored
DislikedUsing BOBs moving avs.. and daily and weekly PPoints and 5 min chart.. am..
LOng AUDUSD..9077
Short..USDCAD..1.0648..
Watching to short..USDCHFIgnored
DislikedHello
Just thought I would post 2 charts of what and why I did not trade today, as can be seen on the 1st chart there is a pretty good bounce on the 43, price looked as if it had broken the S1 (green dotted line) so all should be good.
If you look back a few hours there are a couple of bounces off the 1.6600 level and that is only about 40 pips away from what would be the trade entry price. Some traders might think thats plenty of room to make some pips.... well good for them but I don't like that the market has already rejected that level,...Ignored