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N2FX - 1/5/15 Minute Pattern Trades

  • #41
  • Dec 27, 2009 6:17pm Dec 27, 2009 6:17pm
N2FX I am VERY impressed with your trading style and analysis. Indicator free trading at its best. I am looking forward to watching this journal progress.

Keep up the good work

Jeremy
"More important than the quest for certainty is the quest for clarity"
  • #42
  • Dec 27, 2009 10:03pm Dec 27, 2009 10:03pm
Quoting JeremyMoore
N2FX I am VERY impressed with your trading style and analysis. Indicator free trading at its best. I am looking forward to watching this journal progress.

Keep up the good work

Jeremy
Welcome to the thread, and thanks.

If you have charts or ideas to post, feel free to do so.

So far the thread has started with some great additional information from WedWed, and hope to get some more traders on board for some awesome money making this year.
  • #43
  • Dec 27, 2009 10:23pm Dec 27, 2009 10:23pm
I am thinking that London or even Frankfurt may want to play today.

The EU is heading upwards to the resistance at 1.4417, from that point, there could be a good move up, or even another rejection.

It is our job to prepare for the attack of the border, and to have our armour on for battle.

Will the Bulls take charge, or give in and fall back.

Our eyes will see it happen, be ready to go.

EU 4 Hour Chart
Attached Image (click to enlarge)
Click to Enlarge Name: EU 4HOUR.PNG Size: 23 KB
  • #44
  • Dec 27, 2009 10:58pm Dec 27, 2009 10:58pm
Coming into Frankfurt open.

Since the open of market.

UJ 36 pip range

GU 39 pip range

EU 43 pip range

Preparing for entries in just a few minutes.
  • #45
  • Dec 27, 2009 11:37pm Dec 27, 2009 11:37pm
So far in the Frankfurt session:

GU and EU are moving down slowly testing some minor support areas, and the UJ is moving upwards testing minor resistance areas.

Nothing has formed just yet, even though EU is starting to show me possible trade setups.

Will post chart at time of trade.

Watching EU, GU, UJ on the 15min chart for now.

Waiting for EU rejection candle to form the a move up to form above 1.4382 for a long setup, or a break of the 1.4376 support area formation for a short.
  • #46
  • Dec 27, 2009 11:52pm Dec 27, 2009 11:52pm
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.
  • #47
  • Dec 28, 2009 12:13am Dec 28, 2009 12:13am
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?
  • #48
  • Dec 28, 2009 12:16am Dec 28, 2009 12:16am
EU 15 Minute Chart.

Trade Setup.

I was also notified it is Holiday, so this trade may not have the legs to go.

I will sleep after this trade.
Attached Image (click to enlarge)
Click to Enlarge Name: EU setup London.PNG Size: 23 KB
  • #49
  • Dec 28, 2009 12:29am Dec 28, 2009 12:29am
The 91.45 has held support for UJ on the 15 min chart, if price closes below here at 30 after, I will raise a brow to SHORT UJ.

Would like to see some movement under that line as it becomes a resistance, but for now, it is support.
  • #50
  • Dec 28, 2009 12:55am Dec 28, 2009 12:55am
Okay, I am heading to bed 1am.

I have the EU long in still from 1.4382.

I have my areas for exit at 1.4412, and stop at 1.4372.

That would be a 10 pip loss if it fails - or a 30 pip win if it goes to the top.

I will have to wait for UJ to form tomorrow.

Good Night.
  • #51
  • Edited 8:22pm Dec 28, 2009 7:43am | Edited 8:22pm
Quoting N2FX
Okay, I am heading to bed 1am.

I have the EU long in still from 1.4382.

I have my areas for exit at 1.4412, and stop at 1.4372.

That would be a 10 pip loss if it fails - or a 30 pip win if it goes to the top.

I will have to wait for UJ to form tomorrow.

Good Night.
The Long EU from Frankfurt/London closed with +30 pips reaching my target at 1.4412, the high was 1.4413, very close on that one.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Trade Summary.jpg Size: 58 KB
  • #52
  • Dec 28, 2009 7:47am Dec 28, 2009 7:47am
Yes sir that was a nice trade.. very low range today,

Danny
  • #53
  • Dec 28, 2009 8:01am Dec 28, 2009 8:01am
Quoting rebelheart
Yes sir that was a nice trade.. very low range today,

Danny
Hey Rebel, hope your having a great day!

The EU hit a wall up there, and is now coming back to either get some help to break upwards, or it could just collapse further down.

I am bias LONG on the bigger picture, but I really want to see what happens when the market picks up, and when it reaches 1.4417/25 area.

Let's see how it unfolds.
  • #54
  • Dec 28, 2009 8:06am Dec 28, 2009 8:06am
1.4383 was the last low on the move up, let's see if it is captured here and we go to the 1.4376 area again.

I could scalp here if it gives a good 5 minute formation.
  • #55
  • Dec 28, 2009 9:03am Dec 28, 2009 9:03am
Updated EU 1 Hour Chart.

No trades at this time - market is very thin.

Will probably watch at the Sydney to Asia open for trades.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1 Hour updated.jpg Size: 73 KB
  • #56
  • Dec 28, 2009 9:06am Dec 28, 2009 9:06am
The 15 minute chart.

Price is ranging here, there are some good scalping opportunities in these markets, but I am trying to focus on the larger picture this week.
Attached Image (click to enlarge)
Click to Enlarge Name: EU 15 minute updated.jpg Size: 56 KB
  • #57
  • Dec 28, 2009 9:17am Dec 28, 2009 9:17am
This is the Daily ranges:

EU 60 pips Low 1.4353 High 1.4413

GU 76 pips Low 1.5931 High 1.6007

UJ 36 pips Low 91.40 High 91.76
  • #58
  • Dec 28, 2009 9:49am Dec 28, 2009 9:49am
Okay, I took short on EU at 1.4390 expecting some more slippage down.

I have a very tight stop at the red line on the chart.

This is a scalp trade, so I keep it close both ways.

Looking for 5 to 7 pips here.

Update: GU was making a new high here, that I did not see.
Attached Image (click to enlarge)
Click to Enlarge Name: EU Short 5 min chart.jpg Size: 59 KB
  • #59
  • Edited 8:22pm Dec 28, 2009 10:03am | Edited 8:22pm
Okay, top of the hour went my way.

You can see the Red Line I had for my stop area held nicely.

The yellow line broke and casho was added to my account once again.

Was a simple scalp for +6 pips profit.

Taking off to do some stuff, be back around in Sydney and Asia.

Have a great day all!
Attached Image (click to enlarge)
Click to Enlarge Name: EU SHORT EXIT.jpg Size: 54 KB
  • #60
  • Dec 28, 2009 10:40am Dec 28, 2009 10:40am
I can see great area to short

Short @ 4402/4404

SL 4420 TP 4300
Never sell @ lower upward channel unless breacked and vise versa .
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