N2FX - 1/5/15 Minute Pattern Trades

so you were not interested in longs?

ok

No, my longs were on extremes earlier, and I am interested in shorts from 33,43,53, with targets back to 13 below.

We have seen a good move down, and then a nice rally that happens when London closes, I start looking for areas where the NY will start thinking, hmmm. I am going to close my longs and go find a safe zone for later.

That zone is the 1.3515 to 1.3550 area, which I put on the charts with the gray horizontal box.
Post #734

So it will bounce alot here in range now, until it finds the exhaustion on the move up.

The 43 finally hit, and 41 gave a great short signal, now to see how 33 hold, and then 23.

+8 pips

I will let it ride some, looking for 23 exit.

Okay, 31 is good, I am out. I would play more if I did not have to run, I have to go with my son to the doctor.
Look for selloff to 23 still???

must run for a while, thanks for the commentary , catch up later

Since Market Open

Asia
+7 (1/2 lot) = 3.5
+7 (1/2 lot) = 3.5
+4 (1/2 lot) = 2
+8 (1 lot) normal trading time

Frankfurt
+5 (1 lot)
+4 (1 lot)

London
Did not trade session

New York
+7 (5 lots) =35
+6 (2 lots) =12
- 4 (1 lot)
+8 (1 lot)
Total +77 pips @ 1 lot average 9 Wins 1 Losses
__________________

Asia open in a few minutes, here is the 15 minute chart.

Price moved up to the 1.3580, about 25 pips higher then I had expected.

I will watch how it reacts in this flag zone during the opening minutes.

Update: 7:02 pm EST.

Watching the 53 line, if it breaks, it could dip to the 35 area, was a strong trend from NY session, so I am not real sure just yet how Asia will play the down trend of London and up trend of NY.

hey n2fx,

i will watch the thread the next hour!

thanks for your great work

Normally the first 2 hours of Asia I watch the moves, I feel tired this afternoon, and my mind is not where it should be. It has been a long day, and now the work is starting with trading. lol.

One thing for sure, the NY moved up nice, and there has been a very small pullback as seen in this range, if we hold on the support here, we could be seeing a move back to the area where we started this move down.

I would prefer a move back to the middle of this move up in NY, then a stall pattern for more longs, but I will have to take what it gives.

When I look at the 15 min chart, it is real ugly, I prefer seeing some real movement, ranges can kill an account if you take breakouts and they are just bounces from top to bottom.

I took the break down, i will exit fast if it stalls.

I exited at breakeven, this is what I was speaking of, so I am playing it safe until I see it smoke.

Price is really pressuring the low side of the range, it does not have breaking power yet, but it looks real short to me.

Watching the 52 line here, the low from middle of range earlier, nothing below that.

I will short and exit fast if it stalls here.

I held on that one, good thing, price stalled once again, it is too squirmy here for me, so I am now going to wait for a real move to take my real trade.

I have time, let them play around, it will appear soon enough.

57 breaks, long should take a few pips,

low at 50, wow this is tight.

at 40 minutes past the hour, the setup finally formed for long, wow, that was a tight one.

In LONG out +5. not liking it, but it was there big time with the pressure hitting that 57 line over and over.

I entered at 53 sell side, and 55 buy side before the setup occured, and 60 exit.

I am not sure of shorts for now, the range is very solid.

If the range breaks, then we will see the fast move that I like to see.

There has been no candle close below the 52 line in the last 66-5 min candles, so watch for it.

Price breaks, now testing, looking for short here.

It really does not like leaving this area, I would like a close under the 52 on the 5 min, then I will be in.

That was the classic, break the low, then push up to fake, I was short at 55, and took +16 pips (1 lot).

Finally the 35 area I have been waiting for.

Update:
A few minutes before new hour, could spike up to test that 50 area, I am not sure if it can get above our recent supp at 52, I will be looking for short again if we get the move up and stall.

Saw a lower high on the 1 min eu chart at 7:49... Nice drop!

I did not take this trade, but the 25 line was the long setup.

Look at the 2 bottom 5 min candles, and then the one were on now at 25 after the hour.

Stop if it goes below the 25 entry.

Update: 8:28 pm EST Long at the 24/25 tap.

Okay, out at 31 on sell side, +5 pips (1 lot).

Was a good setup, the 5 min never went negative after those 2 candles.

Here is the 5 min chart explaining my post.

I have an eye on the 41 line here on this move up, I closed with profits, and knew that it was possible for a higher move, but I am a scalper and I NEED THE PIPS lol.

I never trade too greedy, aggressive yes, but safe.

Asia
+16 (1 lot)
+5 (1 lot)
+2 (1 lot) (this was a sleeper trade)
Total +23 pips
3 Wins 0 Losses

Look for a stall here at 35 (or what appears to be a stall) , but then an exhaustion move/spike around 41, I would not short or long here.