GBPJPY
Longer-term analysis remains bearish on GBPJPY despite the bounce from 4 hour TDST support yesterday which may have completed. So I have taken a short position on the back on a TDST failure on the 5 minute chart.
Cheers
Foggytrader
- #61
- Jan 7, 2010 2:16am Jan 7, 2010 2:16am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPJPY
Longer-term analysis remains bearish on GBPJPY despite the bounce from 4 hour TDST support yesterday which may have completed. So I have taken a short position on the back on a TDST failure on the 5 minute chart.
Cheers
Foggytrader
- #62
- Jan 7, 2010 2:46am Jan 7, 2010 2:46am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
Hi foggy,
During my trading time off in December I did some research on the TDST stuff including your other thread which was great. First up I would just like to thank you for your hard work, because it really got me interested in this system.
In regards to "TDF", it is spot on in my thoughts. Waiting for the thrust is just plain genius.
I may actually begin using TDF as my primary trading system on the daily. Hope to contribute something to this great thread very soon.
Good to hear you are liking the thread, look forward to your contributions.
Cheers
Foggytrader
- #63
- Jan 7, 2010 3:19am Jan 7, 2010 3:19am
Attachment
GBPJPY
Longer-term analysis remains bearish on GBPJPY despite the bounce from 4 hour TDST support yesterday which may have completed. So I have taken a short position on the back on a TDST failure on the 5 minute chart.
Attachment
Cheers
Foggytrader
- #65
- Jan 7, 2010 6:11am Jan 7, 2010 6:11am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
SELL STOP 147.90
Cheers
Foggytrader
- #66
- Jan 7, 2010 8:12am Jan 7, 2010 8:12am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
Although I posted earlier in the week my BAT analysis is pointing toward a bearish scenario we have since seen quite a decent down move which is begining to look exahusted. I have posted three charts which illustrate TD Buy Setups on the 15 minute, 30 minute and 1 hour charts with the 15 and 30 minute charts recently giving bullish thrusts at which point I added a few long positions which thanks to the fact that my broker moved to 5 decimal points held by 0.5 pips lol....
As the 30 minute chart has just produced a bullish thrust and one may follow on the 1 hour, there should still be more opportunities to add to the position.
Cheers
Foggytrader
- #67
- Jan 8, 2010 2:06am Jan 8, 2010 2:06am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
As stated in the last post, there were multiple TD Buy setups on the 15 minute, 30 minute and 1 hour charts. Since then we have seen bullish thrusts on the 30 minute and 1 hour timeframe providing opportunity for anyne to get into the trade who missed the original entry. Now that the trade is developing somewhat I have set the initial partial profit taking level just below the 30 minute TDST resistance level.
Cheers
Foggytrader
- #68
- Jan 8, 2010 2:39am Jan 8, 2010 2:39am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
AUDUSD
As I stated in my commentary earlier in the week, this pair was due to complete a TD Sell setup today should we close above the 5th bars close at 0.9121. I also recommended looking out for a TD Sell setup on lower timeframes as we approach today. I have posted some interesting developments below. Firstly the 15 minute chart shows a perfect TDF trade which would have you in with an initial risk of 21 pips. Obviously I was sleeping at this point but just pointing out that the opportunity was there for anyone who is available for the Asian session. I have also posted the daily chart to show that should the TD Sell setup complete today this could be a very good level to get in for a long-term trade with an initial target around the 0.8320 area. I also posted the 30 minute chart to illustrate that the opportunity may come to sell should we get a TD Sell setup on approach to the TDST resistance at 0.9211.
Cheers
Foggytrader
- #70
- Jan 8, 2010 3:16am Jan 8, 2010 3:16am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
EURJPY
Although we have seen some strength in this pair since the daily bearish thrust we have posted a TD Sell setup around the same level as the last one and we are now on the verge of completing the first bearish thrust. Should this play out one could start to look for TD Sell setups on the lower timeframes from entries.
Cheers
Foggytrader
- #71
- Jan 8, 2010 3:26am Jan 8, 2010 3:26am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
Just a couple of chart here to show how the GBPUSD strength could be temporarily halted. We are just about to complete a TD Sell setup on the 15 minute chart while at the same time we have just tested the 1 hour TDST resistance level. Although I think this could be more of an opportunity to add to long positions as we have removed the 30 minute TDST resistance to a close which usually signals a trend continuation, I am sure the news due out in 5 minutes will ave a big say on which path we go.
Cheers
Foggytrader
- #72
- Edited 3:56am Jan 8, 2010 3:42am | Edited 3:56am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPJPY
A little bit of fun here as trading can be a little boring sometimes. All though hypothetical this is however the perfect outcome for this pair. We are on bar 6 of a TD Sell setup and we are approaching the TDST resistance level. I have added some ghostly candles to illustrate how I would like to see this market play out, should it work out in a similar fashion it should provide a nice opportunity to short this market.
Cheers
Foggytrader
- #73
- Jan 8, 2010 3:53am Jan 8, 2010 3:53am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
Quick update of the situation, the news has failed to move the market to a great extent as it was likely already priced in from this mornings action. Should the bears wish to try and defend this pair the 15 minute chart is offering a nice TDF setup. I have marked on the chart the fact that we have failed at the TDST resistance thus far and made a TD Sell setup in the process while you will remember we have also hit the 1 hour TDST resistance level. Should we now make a bearish thrust bar I would see that as an ideal opportunity to take a short position. So every new 15 minute bar we make, look to sell should that bars low be removed to a close (Bearish Thrust Bar).
This action should be cancelled however should we close above TDST resistance on the 1 hour chart, I will keep you informed.
Cheers
Foggytrader
- #74
- Jan 8, 2010 4:11am Jan 8, 2010 4:11am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
Quick update again to my last post. As I have illustrated in the pictures below, we have now removed the 30 minute and 1 hour TDST resistance levels to a close, which indicates a strong trend continuation. In light of those developments I would only recommend taking the 15 minute short TDF trade if you plan to scalp short term just a few pips as it will likely be a short retracement.
Personally, as I am already long, I will take a small short position with a quick BE traget to hedge incase this is the first signal that the bears are back.
Hope this is not to contradictory but this is trading things continuously change and one has to be prepared for either scenario but at the moment the TD charts are telling me that we will continue higher according to the 30 minute and 1 hour charts but one can't rule out the power of the 15 minute setup. Time will tell...
Cheers
Foggytrader
- #75
- Jan 8, 2010 5:12am Jan 8, 2010 5:12am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPJPY
As I posted earlier, I would be taking a short position following the first bearish thrust as I am already long so would like to hedge my bets incase the 15 minute TDF setup is the first signal that the bears are back. As you can see below I entered on the close of the bearish thrust bar, stoploss at 1.6039 and I will watch to see how it develops and perhaps move to BE on a retest of the 1.6000 should this play out.
Cheers
Foggytrader
That's the way,
we have the same trades Buy zone and sell zone
We are in the same page.
we have the same trades Buy zone and sell zone
We are in the same page.
Attachment
GBPJPY
As I posted earlier, I would be taking a short position following the first bearish thrust as I am already long so would like to hedge my bets incase the 15 minute TDF setup is the first signal that the bears are back. As you can see below I entered on the close of the bearish thrust bar, stoploss at 1.6039 and I will watch to see how it develops and perhaps move to BE on a retest of the 1.6000 should this play out.
Attachment
Cheers
Foggytrader
- #78
- Jan 8, 2010 6:52am Jan 8, 2010 6:52am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
Next week i will be posting more charts..
Cheers
Foggytrader
- #79
- Jan 8, 2010 6:58am Jan 8, 2010 6:58am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
Quick update on my latest thoughts regarding this pair. I am long and short now as the chart below show. We have just had a TD Buy Setup on the 15 minute chart and with us taking out the TDST resistance levels on the 30 minute and 1 hour while also failing to make a TD Sell setup on the 30 minute chart and 1 hour chart tells me that the bulls are possibly not finished here (exhausted). With the up and coming news release in just over 30 minutes I will now hold my stop on the short trade until just before the news assuming we are far enough away, if not I will just leave it and let the market decide.
The other option we have which has nothing to do with my positions is a bullish thrust on the 15 minute to complete a TDF buy setup at which point one could go long but this doesn't look likely before the news.
Cheers
Foggytrader
- #80
- Jan 8, 2010 7:20am Jan 8, 2010 7:20am
- | Joined Jan 2006 | Status: Always look at both scenarios | 640 Posts
GBPUSD
Price has now moved sufficiently from my entry level so I have moved my short position to BE prior to the big news release. Lets hope we don't get to big a wipsaw and take out both trades, nevertheless I have some profits from the buy to make today not a bad day and recovered some of my losses from the early part of the week.
Cheers
Foggytrader