N2FX - 1/5/15 Minute Pattern Trades

Low line is 1.4306
High line is 1.4328

15 min trying to form 1st rejection candle.

1 and 5 min already formed.

Come on, don't give me all the CASHO.

Well, I guess I will.......

Patterns, Formations, Predictability, guess I will just put indicators on my chart to make it a challenge.

I am going to go do some painting today, sunshine and great weather.

Already made my daily goal here on this support setups.

Do you think will go down again here in the next 6 minutes?

Looking for the 40 area.

i have shorted gbp again at 6138 and 6150
tp at 6112 and 6100

Enough fun LOL.

I asked if you thought it would go down, I shorted 1.4354 to 1.4341 for +13 pips standard size trade.

Way too normal of market, those are the CAHSO makers.

Thanks EU, and Thanks for all the losing traders who paid my check today.

Talk to you around Asia.

I like your 50 entry, should be a good profit maker for you.

I try to trade the bounce on move up before the end of the hourly bar, then I am out on the new hour bar.

I only take 7-20 pips in average, so get what you can, and can always get more at a later time.

I quit going for the big moves, I take little chunks of CASHO all the time, and it is basically simple and easy formations on the price action.

Have a great day, give a report on your results.

it will go to 4297 atleast.

Drinking my coffee and watching with you.

No trades "probably".

at the moment I am concentrating on my gbp/usd three sell trades only. I have shorted at 1.6075, 1.6150 and 1.6038.
hope to put some cashos before New year. LOL

What is going to happen UJ, do you really want to drop?

93.09 High
93.01 Low

It may want to play on the mind here. LOL

But we have to be a mind reader.

sorry at 1.6138

You can see how the 5 minute chart shows the price hugging that high line at 93.09, wanting buyers to push it up.

If buyers do not buy, then they think, hmmm, maybe this is all, and some of them will exit their longs, which cause the price to drop so sudden.

So my thought is, take the short once you see buyers are holding back, that does not mean sellers are in the market, only a lack of buyers to push it up.

So when price dips the buyers see a new opportunity to get in the market lower, and then they will be in the market when it finally pushes over the top.

Now were still above the 93.01, so anything could happen, we have to wait and trade at the right moment to get our CASHO.

The EU has sold off faster then the GU, once the GU recognizes that, it will drop faster.

I would think back to 1.6000 eventually, but my bigger range ideas suffer many times.

Go get that CASHO my friend.

OK, I shorted UJ 93.04 and will look for 7-10 pips down.

Stop is a break high of 93.09.

That is fair, chances are good for pips.

I have to run, my stop and limit is set.

Give updates as it goes.

CASHO all around.

Happy new year N2.

A Happy New Years to you my friend!

Let's get Richer in 2010 - It will be double CASHO.

This is the entries on my 2 EU trades in New York today.

5 minute chart.

I will put a 1 minute to show what I was seeing for the actual point of entry.

Was a great way to end the week.

A very normal week of trading actually, even with holidays and such, CASHO is always available to us.

This is the 1 minute.

It is where the action is when price is screaming to new highs or lows.

When price is ranging, I like 5 and 15 minute charts, and when it just blows supp/res I will watch for the first sign of stall/rejection.

I took the long at the bottom, and only went for my normal target of 7-10 pips, remember, it could be a reversal, or just a small pullback, so get the CASHO and get out.

There are always other trade setups in a move, I took the small move on my LONG, but when price moved back to the previous support line, I short and take twice the amount of pips.

So you can trade all you want, just know your limits before you do it.

I have my entry formations, and also my stops picked out when I go in, so I know the risk prior to putting capital on the trade.

I hope this helps someone, if not, I can just post funny pictures. LOL.

Have a Great New Year Everyone.

The thrill of closed markets. LOL

Here is the EU 5 minute chart.

I know we broke the support 1.4363 line, and we have attempted to get back there, but failed a few times since it broke.

I look at the chart and say, where did it come from and where is it now.

It came from above a support, so now I am looking at that support as resistance, which you can see by the marks I put on the chart.

So now I wait, watch for confirmation of either a Long or Short, does not matter to me, I will take whichever presents itself.

From the looks of it, the low should test again at 1.4306, then we will either get a double bottom then breakout low, or bounce to test those marked areas.

Enjoy.

Ref: Post 158

N2

For a novice like myself who is trying hard to get to grips with price action, what actually prompted you to take the long and the short trades on the one minute chart? I appreciate that this might be difficult to put into words, perhaps trading like this is more instinctive and comes with experience rather than something that is purely technical.

As I mentioned above I'm trying to trade more using price action. However, one or two good indicators to confirm an opinion would be reassuring before taking a trade. I particularly like Jeremy Moore's trading system, he has written on this thread in the past, in my judgement he is one of only a handful of individuals on this forum who is actually competent in this business. Unfortunately the template that he uses he purchased from a commercial site and is unable to share.

By the way what is your first name?

Regards
Danny