N2FX - 1/5/15 Minute Pattern Trades

Man, I just couldn't shut the charts down. The 5 min is showing rejection here at the 00 level. I am short from 1.3498 Stop above 1.3502 Target +7

+3 pips - NY looks Bullish now the London has closed. So shorts must be quick. So 2 Trades in NY +7, +3= +10 pips. There was many more to be made, just not my time to trade.

Came in the doors 1/2 hour ago, and then seen this nice jump in price.

I took a short as per chart, was a good stall 5 min pattern.

+7 pips

Entry was at 1:06 pm EST.

The blue lines are some areas I am watching in today.

I would like to see the move upwards continue to 1.3582 area in the NY, that would set off a good short with confirmation.

I made a few adjustments to this chart, here are the areas marked from low to high.
1.3518
1.3530
1.3547
1.3565/67
1.3580/83
1.3610

15 minute chart.

NY pushes price up, pulls back and gives the SHORT signal, it was a slow mover and I exited with only 4 pips from boredom.

Here is the way I looked at the setup, that worked as I had hoped.

Now Sydney is in, we wait for Asia.

NY Session Total:
+7, +3, +7, +4 = + 21 pips

Looking for more in Asia

Thinking the 3530/28 area will be the next leg down, the moves up are all getting lower as they attempt, and the 30 area is strong historical supp/res.

I will not trade a breakout down, but will look for what could be the bounce up from that line.

I am watching only a 15 min chart here this afternoon, so my setups take longer to form.

hi n2fx,

is there any reason why you are not trading the breakout and the move down to 30?

Yes, I already had my short position on the upper test, if I had been a little more patient I could have locked in 10 pips with no problem.

What I have noticed about my style, I like price to move fast and I need my trades to form in areas that are more likely to produce fast profits.

This move to 30 could come, or it may just bounce up and down a few pips, and after about 20 minutes in a trade, I get real squirmy and impatient. I am not sure how I developed this problem, because I can see setups 20 times a day that I know will produce 10-20 pips, but I remain very cautious from entering.

It could be after years of holding trades, and entering where I thought it would stop or go, that I was burned. So now I am a little shy of just trading, and have reduced my daily goal to 20-30 solid pips, and I am not bothered anymore that I can get 3-7 pips in a move that goes for 100.

Of the 3 type of strategies I watch, reversals are about 70%, continuation 20%, and breakouts are a small 10% of my trades.

I have dedicated months and years on each strategy, and time frame, and it just seems the reversal trader in me has prevailed.

On the last 6 - 15 min bars, each high is lower and low is lower.

I will watch this as it moves down to look for a higher low bar and a break of the last bar high.

That does not automatically have me entering long, but it will let me know when price is slowing to the downside and a long could be setting up.

Since NY session was UP, I would like to see a couple good candles drop and give me a formation for a long.

The 15 min bar now has the same low as the previous, but the high is lower, so I will watch it here.

Update: Bar went lower nearly tapping the 30, give it some time and it will bounce.
Update: There is the 30 tap, a drop to 18 would be a nice gift.

Sorry, my internet was really getting overused from my son on his live gaming, I had a long at 30 stall

Target is 38/40 area, stop below 28

Update: I will keep break even (32) as my stop on this one, but looking for 42 on the move up on the charts.

thanks!

i see a stall-pattern in 5min at 30. if you would trade 5min today would that be a good opportunity to go long? for me it looks promising but perhaps it's not a high-propability-trade for you...

you were posting while i was typing...so please ignore my question

Can someone say CASHO, that 30 held nicely for that long, 42 reached and +7 pips once again.

I am not sure if anyone really trades my calls, I try my best to give entry as soon as possible so you can follow along with me.

If so, let me know, if not, I will just post after the fact.

Actually yes, we seen the same thing, and you can see now the move was 20+ pips, a great stall area that I felt would pay out, I am not greedy in no means taking small pips on all my trades, but I am well over my daily goal and weekly goal being very conservative.

This is also the reason I was not wanting to short to the 30 area, if it had not reached that line, and then went up like this, we would be in deep trouble.

Oh, once I see the 15 min sup/res areas, I switch to a much faster time frame to pick up my entry, kind of like price/tape reading for entry.

I hope you locked in some pips on that one guys.

So this confirms the NY bullish trend, I am now watching for pullbacks and longs once we start seeing them, I expect 3583 up to 3610 area to be our next leg up.

I will not enter the top breakout, only a few consecutive 15 min candles, then the pullback into the trend, a continuation I call it.

Looking like the small pullback for the breakout of the top setting up here.

51 line could be the retrace level, I am interested in longs once I see the formation for a breakout form.

Yep, there was 50 hit, even 46 dip would be good first here.

47 double tap on 1 minute, then a 46 tap came into play, I am LONG, stop is 7 pips (below 40), target is near top, so I would be okay with 10-15 pips on this move, I will exit on how price responds.

OUT 56

It would be much easier to just give audio entry and exit, I am not sure if anyone is taking these trades, but I felt real comfortable with that 49 entry and 56 exit, it hit right on, even though 59 or higher is in the cards.
I was in with 6 lots on that setup, with it being a solid continuation pattern that hit my entry point to the pip.

Give a shout if you made any pips.

+7 pips (6 lots) WOO-HOO CASHO all around.

A very good Asia session already, with the NY totals, this will be my 3rd big day this week.

i took 5 pips on this pullback! audio would definitely better

NY Session Totals: (1 lot trades)
+7, +3, +7, +4 = + 21 pips

Asia Session Totals:
+7 pips (1 lot)
+7 pips (6 lots)

Daily Total pips as per lot: +70 pips

Note: 59 finally hit on that move, but stalled hard.