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N2FX - 1/5/15 Minute Pattern Trades

  • #1,161
  • Mar 22, 2010 5:23pm Mar 22, 2010 5:23pm
Quoting mary4x
I agree with Rebelheart... I'm just reading and following, but not posting. I'm happy to learn that N2 is also west coast and probably trading close to the same times I am (San Diego).

Don't give up on us, N2!
Good to hear from you again, hope your trading is going well.

I am north of you about 6 hours, in the heart and heat of Cali.

Have a great day, and post when you can.

J
  • #1,162
  • Mar 22, 2010 5:29pm Mar 22, 2010 5:29pm
Watching high here, I want to short, but want it to reach 7080 and give short signal.

Note: The last 2 hour bars were basically doji candles, this could form into a 3rd doji bar which would be a top rejection.

It would be a better setup for a spike up to the 7080 or so, then give a rejection on this 1 hour bar.

Just giving a few scenarios to watch.
  • #1,163
  • Mar 22, 2010 5:50pm Mar 22, 2010 5:50pm
Nearing the 1.3550 area, figures I get out, it goes. LOL

Depending on the close of this hour, I am looking to short Nzd/Usd and the Eur/Jpy.

It is how the hour candle looks on close.

Nzd already hit the tops, and I held from entry, and EJ had me thinking short at 122.22.

I am basing these 2 setups on the hour bar alone.

Let's see here in 12 min.
  • #1,164
  • Mar 22, 2010 5:55pm Mar 22, 2010 5:55pm
The Nzd was better to short at that top earlier, the hourly is coming to a close and I am not as interested in how it is finalizing.

The EJ has made a nice tap on top and on my price chart I see where it has rejected already, I took a short at 122.22 and will stop if it breaks the high.

I expect a move down for 10 pips if it can close this hour bar under the 122.23 line.

3 Bars now at this top, let's see if it will go short quick......
  • #1,165
  • Mar 22, 2010 5:59pm Mar 22, 2010 5:59pm
122.18 is key on the past 3 bars.

It breaks below that, then will see lower drop.

If not, hmmmm..... maybe have to stop out....


LOL trade baby trade.
  • #1,166
  • Mar 22, 2010 6:05pm Mar 22, 2010 6:05pm
I closed the Ej at 23, so I took -3 pips on it.

I see all hourly candles on all 6 pairs turn bullish, so I will remain clear on shorts for now.

But will watch for next stalls.....

One thing I have learned, take the trade setup as close to your exit as possible, the short was 1 pip below the high, and when I seen the 122.18 stall, I knew it was over. Should have longed right then...
  • #1,167
  • Mar 22, 2010 6:19pm Mar 22, 2010 6:19pm
Watch how EJ reacts to the 122.32 here, was expecting that previous high test for support and long setup...

Price is really slow here this afternoon, and it is still early.

Thinking we may see a move back up on EJ before the 122.23 test?

I will long anywhere from here down to 23 if the setup forms.

Update: Price moved down and now back above the 122.32 line.
I am long now, for the top test, exit just below when it comes, stop below the recent low line.
  • #1,168
  • Edited 6:46pm Mar 22, 2010 6:30pm | Edited 6:46pm
Nice, EJ did as expected, took +5 pips on that, was looking for 7 pips.

My price chart gave the stall pattern with a long setup, and I knew once I was over the 122.32 line, it would move up quick.

Made back a few from my loss.

Watching for more as we near Asia open in the next 30 min.

I will post a chart in a few what I was seeing.

The key is the breakout, it moves almost 20 pips, then pulls back towards the breakout line, and stalls, we look for longs and GET OUT before the top fails. That is usually the candles that reject the top to begin with, like I have marked.
This can work on each time frame.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ 1 min chart.jpg Size: 48 KB
  • #1,169
  • Mar 22, 2010 6:41pm Mar 22, 2010 6:41pm
EU has not reached the 1.3551 line, and now is showing support at 1.3554 area.

I have longed, and will exit if the 54 breaks. I am targeting a few pips here.
  • #1,170
  • Edited 8:30pm Mar 22, 2010 6:45pm | Edited 8:30pm
EU was a good quick +5 pips.

I am not sure if anyone is seeing what I am seeing, I probably have it down to micro, and that makes it hard. sorry guys.

Will chat later I guess.

Sun-Mon Totals
EU Long +8
Nzd/Usd Long +4
EJ Long -6
EJ Long +6
EU Long +4
Nzd/Usd 0
E/U Long +7
5 wins 1 loss 1 breakeven
Total +23 pips (daily goal reached)

Mon-Tue Totals
EU Short +4
EJ Short -3
EJ Long +5
EU Long +5
EU Short +4 (1.3565)
EJ Long +4 (122.41) 8:34 pm EST entry
EU Short +4 (1.3554) 8:38 pm EST entry
EJ Short -2 (got faked on this one)
6 wins 2 loss
Total +21 pips (daily goal reached)
  • #1,171
  • Mar 22, 2010 7:41pm Mar 22, 2010 7:41pm
Quoting N2FX
It is simple, people want the easy way... That is why many seek out signal services, or indicator trading.

I have done all that myself, and have found I can lose as easy as anyone else. LOL.

I could sell a 4 hour signal service right now on my 6 pairs, and I sure that many would take me up on it, but that is not going to help anyone learn.

I think each trader needs to learn how to trade, then they can do it at their leisure.

Thanks for the post, always good to hear from a friend.

J
hi. you don't use indicator?
  • #1,172
  • Mar 22, 2010 7:48pm Mar 22, 2010 7:48pm
Quoting Justrade
hi. you don't use indicator?
No, I have one moving average on the chart occasionally, but I really don't look at it.

I just trade the stall patterns anywhere and anytime, usually reversal, but some continutation.

How about you??
  • #1,173
  • Mar 22, 2010 7:50pm Mar 22, 2010 7:50pm
I am off an hour with the time change, I am not use to it being an hour later on my charts.

I just missed alot of short setups the past 45 minutes.

Well, guess I will continue scalping few pips here and there.

EJ gave a quick Long setup about 5 minutes ago.
I am waiting for the pairs to cool off, the move down was going good on all 6 pairs.
  • #1,174
  • Edited 8:07pm Mar 22, 2010 7:56pm | Edited 8:07pm
Watching the move back to 122.22/23 area from earlier, if i get a quick Long there, I will take it fast.

122.22/23 supp hit, the break above 25 line is key for me here.
  • #1,175
  • Mar 22, 2010 7:58pm Mar 22, 2010 7:58pm
i am watching as well

just not posting over here anymore


nice trades N2FX--- as always
  • #1,176
  • Mar 22, 2010 8:14pm Mar 22, 2010 8:14pm
9:11 pm EST I went Long at 122.26, I will look for a few on the upside, and exit if it breaks below the low at 22/23 area, I usually can see it coming before it breaks on me.
  • #1,177
  • Mar 22, 2010 8:17pm Mar 22, 2010 8:17pm
I am not liking price action at this moment.
122.28 is the break point. It held, I exited -2 pips.
  • #1,178
  • Mar 22, 2010 8:22pm Mar 22, 2010 8:22pm
Quoting BigDawg
i am watching as well

just not posting over here anymore


nice trades N2FX--- as always
I am posting, but really, does it matter.

Not many traders around these days trading the way we do?

That EJ bounced the higher low on that dip, and then gave a little life, took me for my 2 pips lol.

How have you been?
  • #1,179
  • Mar 22, 2010 8:36pm Mar 22, 2010 8:36pm
Quoting N2FX
I am posting, but really, does it matter.

Not many traders around these days trading the way we do?

That EJ bounced the higher low on that dip, and then gave a little life, took me for my 2 pips lol.

How have you been?
i hear ya on that

doing good

shorted the dbl top on the h1--- euro

bought the dbl bottom h1---euro


lol
  • #1,180
  • Mar 22, 2010 8:37pm Mar 22, 2010 8:37pm
Quoting N2FX
No, I have one moving average on the chart occasionally, but I really don't look at it.

I just trade the stall patterns anywhere and anytime, usually reversal, but some continutation.

How about you??
i think so everthing is indicator. yes?
candel indicator, mma indicator, all indicator.
nothing rong with indicator
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