Attachments: N2FX - 1/5/15 Minute Pattern Trades

N2FX - 1/5/15 Minute Pattern Trades

#1,001
Mar 5, 2010 10:06am Mar 5, 2010 10:06am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

09 area, what is your thought, break and up, or stall for a dip??

Thanks.

#1,002
Mar 5, 2010 10:07am Mar 5, 2010 10:07am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Quoting zeldazu

Disliked

I use to look at things that way too - looking for extremes and passing on entries further down. But I saw 10:45 as another try and failure of resistance... Keep watching and I think you'll pick up on the flow quickly!

Ignored

It seems to stand out more when there is a good move working, but the range is where I get snagged up.

I think my type of PA trading works best when there is a swing of 30 or more pips on the table.

I seem to struggle when it traps in zones.

#1,003
Mar 5, 2010 10:08am Mar 5, 2010 10:08am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Quoting N2FX

Disliked

09 area, what is your thought, break and up, or stall for a dip??

Thanks.

Ignored

Could very easily go either way... my gut says break and up but my gut has been known to be wrong. Has the flavor of a little fakeout here - in reference to going down...

#1,004
Mar 5, 2010 10:09am Mar 5, 2010 10:09am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

09 held resistance, and now watching for higher low right, then take long for a break of 09, just a thought on 1 min as I learn it's way.

#1,005
Mar 5, 2010 10:09am Mar 5, 2010 10:09am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Quoting N2FX

Disliked

It seems to stand out more when there is a good move working, but the range is where I get snagged up.

I think my type of PA trading works best when there is a swing of 30 or more pips on the table.

I seem to struggle when it traps in zones.

Ignored

I hear what you are saying on those smaller ranges and I think it is a great idea to have the 30 pip swing. I exited that sell at 10:56 because of the small range

#1,006
Mar 5, 2010 10:10am Mar 5, 2010 10:10am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Quoting zeldazu

Disliked

Could very easily go either way... my gut says break and up but my gut has been known to be wrong. Has the flavor of a little fakeout here - in reference to going down...

Ignored

If the 83/89 area had been hit earlier, I would say up is the way, but this is fighting here, my bias is up to mid 20 area.

Key for me is the 09 level, if we can get on top of that, the high should bust easy.

#1,007
Mar 5, 2010 10:12am Mar 5, 2010 10:12am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

in at 09 break, 02 stop 19 exit.

Well, it needs to break here for me. LOL

I will actually look for 23/24 area on this.

#1,008
Mar 5, 2010 10:15am Mar 5, 2010 10:15am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Okay, I am out +5 pips, I know I am too quick guys, but with 5 lots on the table, it gets a little bit more stressful. LOL

I may let the remainder of the day go, I have put more on the table here in NY then I am comfortable with, especially with NFP.

I feel good about my weekly goal being reached, and at this point, will not risk my profits.

BUT,,,,,,, I would like a short up higher.

#1,009
Mar 5, 2010 10:17am Mar 5, 2010 10:17am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Quoting N2FX

Disliked

Okay, I am out +5 pips, I know I am too quick guys, but with 5 lots on the table, it gets a little bit more stressful. LOL

Ignored

I think you made a wise decision right now... That is the challenge I have with those breakout trades (exactly how to find my exit)...

#1,010
Mar 5, 2010 10:20am Mar 5, 2010 10:20am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Quoting zeldazu

Disliked

I think you made a wise decision right now... That is the challenge I have with those breakout trades (exactly how to find my exit)...

Ignored

Normally I trade break out for 5-7 pips anyways, and my entries are always in the break of a lower resistance like 09, exiting on the high test. I have found this to be a much safer method and great chance of making quick pips.

Some day we will have to work on those trades that will go for 100 pips.

Thanks for the help Z...

17 now has been reached, pressure is hitting it, looks long still. I will watch and enjoy.

#1,011
Edited 10:54am Mar 5, 2010 10:23am | Edited 10:54am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Sun-Mon
Total +77 pips @ 1 lot average 9 Wins 1 Loss

Mon-Tues
Total +57 pips 10 Wins 1 Loss

Tues-Wed
Total +57 pips 9 Wins 1 Loss

Wed-Thur
Total +119 pips15 Wins 2 Losses

Thur-Fri
Asia
-5 (1 lot)
+7 (1 lot) UJ
+3 (2 lots) EU = +6 pips @ 1 lot average
+3 (1 lot)
+2 (1 lot)
+7 (1 lot)
+4 (1 lot
Frankfurt/London
-20 (1/4 lot) = -5 pips
(My stop at 3605 was hit last night, then went to my 60 target)
NY
+10 (5 lots) NFP Day = +50 pips
+5 (5 lots) = +25 pips
+3 (1 lot)
Total +95 pips 78 wins 2 losses (daily goal 21 pips-reached)

Weekly Total (weekly goal 105 pips-reached)
+397 pips profit (52 wins 7 losses)

#1,012
Mar 5, 2010 10:28am Mar 5, 2010 10:28am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Quoting N2FX

Disliked

Normally I trade break out for 5-7 pips anyways, and my entries are always in the break of a lower resistance like 09, exiting on the high test. I have found this to be a much safer method and great chance of making quick pips.

Some day we will have to work on those trades that will go for 100 pips.

Thanks for the help Z...

17 now has been reached, pressure is hitting it, looks long still. I will watch and enjoy.

Ignored

#1,013
Mar 5, 2010 10:32am Mar 5, 2010 10:32am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Quoting zeldazu

Disliked

Ignored

I had my finger on 28 to short, but held off.

We have come back to 17 for the test, and watching how 22 line holds.

I had the 38 above as the overall exhaustion for London today.

Well that 30 area up there was the Short of the hour.

Watching how the 12 line here is holding support, nearly back to the 09 line that we broke just a little while ago.

This is so typical of London closing hour, the push price one direction to get everyone thinking, YES...
Then they exit those positions causing a very good reversal.
This is what I have been trading for a long time, and it has become a nice trade if you can identify the areas it will exhaust and reverse.

Okay, we miss it sometimes, all is fair in Forex, made our pips for the week, so they can play with everyone else here.

I have an appointment in 1 hour, got to get out of here.

Have a great weekend everyone, and thanks for all the great post and thoughts.

Have a blessed day.

#1,014
Mar 5, 2010 10:37am Mar 5, 2010 10:37am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Quoting N2FX

Disliked

I had my finger on 28 to short, but held off.

We have come back to 17 for the test, and watching how 22 line holds.

I had the 38 above as the overall exhaustion for London today.

Ignored

Why 38? If it is too much to explain - don't worry about answering...

#1,015
Mar 5, 2010 10:41am Mar 5, 2010 10:41am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Have a great weekend N2! Look forward to chatting with you next week!

#1,016
Mar 5, 2010 10:42am Mar 5, 2010 10:42am

N2FX
Joined Feb 2007 | Status: Trader | 1,932 Posts

Quoting zeldazu

Disliked

Why 38? If it is too much to explain - don't worry about answering...

Ignored

Look at the 4 hour chart, you will see the double body candles, then the next candle that broke down thru it.

That is the area of test for me, it is where momentum took off and I look for a momentum check.

So that is the simple way too look at it.

Above that would be 3673 area, that may reach next week.

Here we are again at 3604, will it become our supporting area for the next leg to 3638? and beyond.....

#1,017
Mar 5, 2010 10:47am Mar 5, 2010 10:47am

zeldazu
| Joined Mar 2010 | Status: Trader | 63 Posts

Quoting N2FX

Disliked

Look at the 4 hour chart, you will see the double body candles, then the next candle that broke down thru it.

That is the area of test for me, it is where momentum took off and I look for a momentum check.

So that is the simple way too look at it.

Above that would be 3673 area, that may reach next week.

Here we are again at 3604, will it become our supporting area for the next leg to 3638? and beyond.....

Ignored

Thanks for the reply... I usually don't look at the 4 hour charts - quite a time gap between 1 min & 4 hr charts - lol.

But I am interested in the price levels you see - wherever you get them from!

After looking at the 4 hr chart I don't have quite the same levels but I'm using AccuCharts as my charting package and each one is a little different.

#1,018
Mar 5, 2010 10:49am Mar 5, 2010 10:49am