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Trading with Deadly Accuracy

  • #461
  • Dec 26, 2009 10:20am Dec 26, 2009 10:20am
My final chart is the 1 hour.

This time frame displays the pressure building to the breakout upwards.

There is a couple areas that may hit on a move down.

Let's see how it plays out in the coming week.

Have a great weekend!

N2FX
Attached Image (click to enlarge)
Click to Enlarge Name: EU Hour.jpg Size: 62 KB
  • #462
  • Dec 26, 2009 10:48am Dec 26, 2009 10:48am
Couldn't resist posting the bigger view.

The weekly chart shows where price has been for a longer period and gives a clue to why it is where it is.

It is possible we could drop even further downward to the 1.4100 area (magenta line).

But, even knowing that, it could move upwards first giving a long, before going further down.

N2FX

(sorry, I said the last chart was my last)
Attached Image (click to enlarge)
Click to Enlarge Name: EU Weekly.jpg Size: 61 KB
  • #463
  • Dec 26, 2009 5:12pm Dec 26, 2009 5:12pm
Here is the UJ Daily chart.

As price nears the 91.73 and 92.31 price should find resistance.

It could drop back to 90.52 to build the pressure for the upper breakout of the gray box area.

This is the 3rd attempt to break the upper resistance area, and when it comes to a 3rd attempt, the wall of resistance should break higher.

When to enter long, well, that is why I am studying this thread, to trade with deadly accuracy.

If there is ideas or thoughts, please post.

N2FX
Attached Image (click to enlarge)
Click to Enlarge Name: UJ Daily.jpg Size: 54 KB
  • #464
  • Dec 26, 2009 5:51pm Dec 26, 2009 5:51pm
Quoting birdt
There are no 'time frames', just clusters of orders at untested break out points.
A very nice trading premise presented here in this thread.

The great part is that it's not at odds with the main function of the market: the facilitation of trade through the seeking out of standing orders.
  • #465
  • Dec 27, 2009 10:11am Dec 27, 2009 10:11am
WMD said the same patterns form on every time frame, I am use to the smaller time frames personally, 5 minute or 15 minute, but I do watch the 1 minute so I can learn patterns faster.

Here is the 1 minute EU on market close day, this is what I look for in a trade setup, on any time frame.

I like to use a 1 hr and 4 hr to see major sup/res areas then watch the breakouts occur on a smaller time frame.

N2FX
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Minute Short Setup.jpg Size: 62 KB
  • #466
  • Dec 27, 2009 2:36pm Dec 27, 2009 2:36pm
Thanks N2FX,

Your chart shows a clean set up! I trade M1 or lower (OandA 30 sec) at S&R breakout too. Show us more of your set ups as we move forward.

Q3

Quoting N2FX
WMD said the same patterns form on every time frame, I am use to the smaller time frames personally, 5 minute or 15 minute, but I do watch the 1 minute so I can learn patterns faster.

Here is the 1 minute EU on market close day, this is what I look for in a trade setup, on any time frame.

I like to use a 1 hr and 4 hr to see major sup/res areas then watch the breakouts occur on a smaller time frame.

N2FX
  • #467
  • Dec 27, 2009 7:26pm Dec 27, 2009 7:26pm
Quoting toppo qqq
Thanks N2FX,

Your chart shows a clean set up! I trade M1 or lower (OandA 30 sec) at S&R breakout too. Show us more of your set ups as we move forward.

Q3

Thanks, I took a couple of trades here in market open, just for discovery. I will look for greater setups after a couple sessions have opened, like Asia and London, by New York open, trade setups will have more to trade for me.
  • #468
  • Dec 28, 2009 12:12am Dec 28, 2009 12:12am
Looking forward to "New" information.
  • #469
  • Edited 12:17am Dec 28, 2009 12:13am | Edited 12:17am
Is the EU building up pressure to break the Resistance at 1.4417?

My eyes are wide open for it, even though it may bounce up and down, it is slowly heading upwards for that meeting of BREAKOUT.

Now we wait, we watch, we anticipate the attack on a move.

Enjoy.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4HOUR.PNG Size: 23 KB
  • #470
  • Edited 1:28am Dec 28, 2009 1:21am | Edited 1:28am
On the EU 15minute chart, support area at 1.4376.

Watching for rejection of move down.

Possible long setup.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 15 Min setup.PNG Size: 18 KB
  • #471
  • Dec 28, 2009 1:56am Dec 28, 2009 1:56am
The 1.4382/83 area is resistance, now waiting for the move above then re-test for a long entry.

Note: need it to break then pull back to test for setup.

Now I have the area I am looking for a long, I will watch on a 1 and 5 min chart.
  • #472
  • Dec 28, 2009 2:03am Dec 28, 2009 2:03am
Frankfurt was dead, with EU and GU dipping a bit, and UJ going up just a little.

Now London will have to decide rather we go up (my bias at this moment) or down, which has been the trend for a while now.
  • #473
  • Dec 28, 2009 2:07am Dec 28, 2009 2:07am
Quoting N2FX
Frankfurt was dead, with EU and GU dipping a bit, and UJ going up just a little.

Now London will have to decide rather we go up (my bias at this moment) or down, which has been the trend for a while now.
Hello N2FX,

What do you mean with Frankfurt was dead?...London starts now....and they have Bank Holiday expect weird moves.
Take Care.
  • #474
  • Dec 28, 2009 2:09am Dec 28, 2009 2:09am
I am watching GU move, but did not have a trade setup on that pair just yet, but I have entered the EU LONG at 1.4382 with a 1.4372 stop and target at 1.4412.

Let's see if the GU move up is leading the pack?
  • #475
  • Dec 28, 2009 2:11am Dec 28, 2009 2:11am
Quoting Rednose
Hello N2FX,

What do you mean with Frankfurt was dead?...London starts now....and they have Bank Holiday expect weird moves.
Take Care.
I only consider the Frankfurt first hour as the Frankfurt.

Then when London opens an hour later (on normal days) it is the London session up to the New York.

In the years I have traded, never thought much more of Frankfurt then that.

Hope that does not offend anyone.

Thanks for the Holiday update.
  • #476
  • Dec 28, 2009 2:18am Dec 28, 2009 2:18am
Quoting N2FX
I only consider the Frankfurt first hour as the Frankfurt.

Then when London opens an hour later (on normal days) it is the London session up to the New York.

In the years I have traded, never thought much more of Frankfurt then that.

Hope that does not offend anyone.

Thanks for the Holiday update.
No offense taken I live here but I´m not German...Anyway.... I´m not used to read "Frankfurt" as a session, that confused me a little. Now I understand what you mean.
  • #477
  • Dec 28, 2009 2:24am Dec 28, 2009 2:24am
Quoting Rednose
No offense taken I live here but I´m not German...Anyway.... I´m not used to read "Frankfurt" as a session, that confused me a little. Now I understand what you mean.
I have family on my wife's side there, so don't tell them, or it will be the end of my trading days.

At least I give them an hour a day for trading. LOL.

I think this holiday may send me to bed here, 12:30 am almost, and I usually sleep during London.

Have a great day there. (Guten Tag)
  • #478
  • Dec 28, 2009 2:34am Dec 28, 2009 2:34am
The UJ has hit the 91.45 for some time on the 15 minute chart, some spikes under that area, but that is my breakout line.

For now it is support, but would like to see it break and become resistance.

If I can keep my eyes open here, I will short if it happens, but the key word is "IF."
  • #479
  • Dec 28, 2009 7:34am Dec 28, 2009 7:34am
Quoting N2FX
I have family on my wife's side there, so don't tell them, or it will be the end of my trading days.

At least I give them an hour a day for trading. LOL.

I think this holiday may send me to bed here, 12:30 am almost, and I usually sleep during London.

Have a great day there. (Guten Tag)
By the time I read your post I was already asleep....Guten Tag auch!

  • #480
  • Dec 28, 2009 7:55am Dec 28, 2009 7:55am
Quoting N2FX
The UJ has hit the 91.45 for some time on the 15 minute chart, some spikes under that area, but that is my breakout line.

For now it is support, but would like to see it break and become resistance.

If I can keep my eyes open here, I will short if it happens, but the key word is "IF."
What is preventing you from issuing a short limit just bellow support, with a reasonable SL? What are you expecting to gain by doing it manually?

Cheers
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