N2FX - 1/5/15 Minute Pattern Trades

3pm here, what time is it there?

23.05.. any thoughts on where EU is heading..

I had EU support a few weeks ago around 1.4150, I am surprised it has not dipped that low yet, were seeing some good resistance at the 1.4450 range.

For now I would expect a dip to 1.4384/74 area.

I do not have any trades yet, but if price starts moving, I will take a few.

I am thinking of leaving GU alone, even though I watch it to help me with the UJ and EU, kind of like an indicator.

So about 11pm there, you'll be sleeping in Asia, that is my favorite session of the 3.

I have a futures account, took a trade earlier EU march contract short from xxx21 was hoping to get out at xx350... why do you like the asian sesion, is it because there is less noise around and PA kina does as expected.. what country do you live in J..

So forex is not the only thing you trade?

I live in California USA, I do early NY market open trades 1 to 2 per day, then I return at this time to see how Sydney played out, then by Asia open I will analyze some, usually waiting for an hour or two for setups.

Asia has been predictable, the NY and London is not interfering, so it is very good for range trading, reversals and such.

I do not have a big daily goal, usually 25 pips a day, on 2-4 trades, not many losers, but a few now and then.

I am trying to perfect price action for a NO draw down style entry, I have lots more to work out, but I have been working on it for a few years.

I am probably a scalper I guess LOL.

I have not taken a trade longer then a few hours that I can remember, if it goes my way, great, if not, I will just exit with small loss, and wait for another.

I had a UJ setup on 5 minute, but was posting LOL.

I am working on a 5 minute indicator trade also, hopefully with live testing for a few weeks or months, I can incorporate some good reversal and continuation trades to share here.

On the UJ, the indicator was a reversal perfectly at that spike, it would be good for an easy 6-7 pips so far, I have to work this out, would love to have other stuff to watch, price action gets a bit boring at times, and I make my pips pretty normal every day.

This is what I see on the U/J Pairing. Picking it apart after the fact, but this helps me to learn what to look for when I trade in the future.

PA really leaves no doubt as to which direction Price is going ATM. We just have to figure out ways to make money on what we see.

Looking over those charts now.

Was watching the UJ dip, and wanted to long, but the GU had a triple tap at 1.6081 area on the 5 min grabbing my attention here.

Update: 1.6081 holding resistance at the moment, could be a setup forming.

And I said I was going to take a break from GU, LOL.

Looking for the 1.6073 line for move up.

I think I have been looking for reversals more, I need to open my mind some more this week.

Let's see how it plays out here.

1.6073 broke, watching 81 now.

In long there.

Update: Here is the chart, not watching it too much, the Boise/TCU has my attention here now.

That trade was perfect, my target hit to the pip and after spread made +18 pips.

Now I will relax to watch college football, but will use commercials for trade viewing.

Yea, that was awesome, and I am happier now then I was after New York CASHO.

I have taken 4 trades from New York open through the first few hours of Asia.

+9
+5
+7
+18

4 wins - 0 losses

Total
+39 pips (CASHO)

Above my daily average, so the next trade today will have to scream at me for entry.

Support test-now breaking 92.14 upwards.

No need to post chart, self explanatory trade.

That was a deadly trade you had there on the Cable. I still don't understand how you come by your setups, but I hope as time goes on it will become more clear to me.

So far, I see you really like the retracement trades and play them quite well for the smaller gains. They must be very easy for you to see. My mind has been heavily concentrated on following the trend and I haven't acquired your skill at the smaller TF setups. I guess I'm trying to say good trading, keep it up! Will continue to 'Tune In'!

That's it for me, Good Night!

Skracor247

The long UJ failed the breakout line.

Exit -4 pips after the price came below 92.14 again.

Took a long 91.69 to get back my last loss +5, but a little larger lot with the move that it made.

Will take more if it gives another setup.

Let's see how 91.83 resist here.

Looking for 91.72 dip.

5 minute chart.
Stop will be a break of my entry at 83.

Update: price spiked 2 pips above my entry, I am still in, will let it play, not too worried about the move up, the GU and EU are bullish, so this should dip still, but will exit if it goes up again.

5 minute chart has the resistance at 91.81 with all the bodies under that line.

I will watch how it responds to that area here the next few minutes.

Exit Target 91.72 +7, that was why I held, just too much downward pressure on UJ and upper pressure on GU and EU.

Last trade for me.

CASHO all around.

Today's Trades:

+9
+5
+7
+18
-4
+5
+7

6 wins -1 loss

Total
+47 pips