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Cool Runnings intraday swing trading

  • #2,121
  • Feb 24, 2010 1:02am Feb 24, 2010 1:02am
Looking of the Yen crosses to make a break out of the tight range they've been trading in for the past few hours. Watch for range breaks on EURJPY and the GBPJPY, particularly to the downside. Remember to watch the USDJPY as an indicator. I'd be happy to grab 40-50 pips on a quick move.
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  • #2,122
  • Feb 24, 2010 5:00am Feb 24, 2010 5:00am
Quoting FX Dad
Looking of the Yen crosses to make a break out of the tight range they've been trading in for the past few hours. Watch for range breaks on EURJPY and the GBPJPY, particularly to the downside. Remember to watch the USDJPY as an indicator. I'd be happy to grab 40-50 pips on a quick move.
The GBPJPY broke it's range for a 50+ pip move down, and the EURJPY made a 40 pip move down after it broke below 122.00. Yes, I know these pairs have potential to move more, but I wasn't expecting a big move. That's why I said I'd be happy for a quick 40-50 pip move, which would test yesterday's lows. Remember not to get greedy. A 40% profit margin on a trade lasting no more than an hour, isn't a bad day's work.
You've got to grab those pips when you can!

Once the USDJPY broke below 90.15, it's move down made the EURJPY and the GBPJPY move 40 and 50 pips, for it smaller move of 19 pips. I liked how the USDJPY was stacking up along the 90.15 support, showing pressure on the sell side.

I hope some of you could see how I recognized that set up, and were able to grab a few pips.
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  • #2,123
  • Feb 24, 2010 5:30am Feb 24, 2010 5:30am
Quoting FX Dad
The GBPJPY broke it's range for a 50+ pip move down, and the EURJPY made a 40 pip move down after it broke below 122.00. Yes, I know these pairs have potential to move more, but I wasn't expecting a big move. That's why I said I'd be happy for a quick 40-50 pip move, which would test yesterday's lows. Remember not to get greedy. A 40% profit margin on a trade lasting no more than an hour, isn't a bad day's work.
You've got to grab those pips when you can!

Once the USDJPY broke below 90.15, it's move down made the EURJPY and the GBPJPY move 40...
morning dad...nice trading

well looks like we were on opposing sides of the coin today :oD i scalped a long on usd/jpy off 90.00 looking for support from the 61.8 fib (@ just under 90) closed half and have the other set @ break even tp @ 90.30 just under res and the 50 fib... but we'll see....i'll not be losing anything on this trade thats for sure!

i'm also short usd/cad below 1.0600 with pa and div shown on the 1h rsi & stock again i've taken some profit moved stops to break even and will see what happens... i'd be happier if we'd not popped up again but hey

take it easy dad
  • #2,124
  • Feb 24, 2010 5:51am Feb 24, 2010 5:51am
Quoting icarusfx
morning dad...nice trading

well looks like we were on opposing sides of the coin today :oD i scalped a long on usd/jpy off 90.00 looking for support from the 61.8 fib (@ just under 90) closed half and have the other set @ break even tp @ 90.30 just under res and the 50 fib... but we'll see....i'll not be losing anything on this trade thats for sure!

i'm also short usd/cad below 1.0600 with pa and div shown on the 1h rsi & stock again i've taken some profit moved stops to break even and will see what happens... i'd be happier if we'd not popped...
Just so you're not in the red Ic, that's the most important! Good to hear from you! I like your CAD short. I've got 1.0525 as a strong support level, but I hope that breaks for you, and it should take a nice tumble!

Take Care Sir!
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  • #2,125
  • Feb 24, 2010 6:19am Feb 24, 2010 6:19am
Quoting FX Dad
Just so you're not in the red Ic, that's the most important! Good to hear from you! I like your CAD short. I've got 1.0525 as a strong support level, but I hope that breaks for you, and it should take a nice tumble!

Take Care Sir!
yeah no problem dad... capital preservation is always #1

i like to get into a zero risk trade asap (tp on half the trade then set the sl of the other to give a >0 outcome for the trade as a hole (if it gets taken out). i subscribe to the infinite yeild theroy although it's full application can be challenging.

right i'm off
  • #2,126
  • Feb 26, 2010 3:59am Feb 26, 2010 3:59am
morning dad,

well i set a moving stop over night on the cad trade and it got taken out @05440 ..... pips r pips, but i must admit i fancied that set up for a few more.

aud/usd is doing better :o) trade off a nice big number, fib, divergence etc etc great r/r trade with 40 pips in the bag will wait and see for the rest atm

stop and reverse is on the cards

take it easy
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  • #2,127
  • Feb 26, 2010 8:44am Feb 26, 2010 8:44am
Quoting icarusfx

aud/usd is doing better :o) trade off a nice big number, fib, divergence etc etc great r/r trade with 40 pips in the bag will wait and see for the rest atm

stop and reverse is on the cards

take it easy
closed @ .89050 after another stall at 89200 + 120pips total so happy days...

possible short on nz/usd....

have a good weekend
  • #2,128
  • Mar 6, 2010 1:16am Mar 6, 2010 1:16am
Quoting icarusfx
closed @ .89050 after another stall at 89200 + 120pips total so happy days...

possible short on nz/usd....

have a good weekend
Hello Ic!

Sorry. I never saw your postings til now. I was in Los Angeles, and not FXing. I had a nice few days away, visiting friends.

Glad you grabbed some pips!
  • #2,129
  • Mar 8, 2010 3:15am Mar 8, 2010 3:15am
Quoting FX Dad
Hello Ic!

Sorry. I never saw your postings til now. I was in Los Angeles, and not FXing. I had a nice few days away, visiting friends.

Glad you grabbed some pips!
no worries dad, hope you had a good time in la!

I had a stormer again last week...i've one trade still on the table and thats a long gbp/usd from friday from 1.5044 took half off the table moved stops etc etc i'm happy to hold will see where we go for now.

take it easy

ic
  • #2,130
  • Edited 7:03am Apr 12, 2010 6:22am | Edited 7:03am
Again, sorry for the lack of posts, but I'm seeing something setting up that has caught my eye.

The EURJPY is consolidating just above 127.00, with the EURUSD finding support at 1.3585 and the USDJPY at 93.50.

In the past, I've written about using the EURUSD and the USDJPY as indicators for the EURJPY. If the indicators break below their support levels, and the EURJPY breaks below the major pshych level at 127.00, we could see the EURJPY make a break down and try to close that gap down to 125.70. That would be a nice 100+ pip move. This next hour or two, going into the NY open is key.

I hope you all are well and having a prosperous 2010.

Cheers! Chuck
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  • #2,131
  • Apr 13, 2010 4:52am Apr 13, 2010 4:52am
Going into the NY session, the EURJPY did make a break below 127.00, as I suggested we watch for. Price fell to the next support area of 126.50 and rode that out until Tokyo open, where the Yen picked up some momentum and drove the Yen pairs down. This move closed the price gap, formed over the weekend, down to 125.70.

For you newbies, this 130 pip move, equates to a potential +100% profit on the trade. As I've said in the past, "Success is not in the quantity of trades you make, but rather in the quality of trades."

I hope this helped some of you. A video review of the trade is posted on the blog.
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  • #2,132
  • Apr 13, 2010 5:02am Apr 13, 2010 5:02am
Quoting FX Dad
Going into the NY session, the EURJPY did make a break below 127.00, as I suggested we watch for. Price fell to the next support area of 126.50 and rode that out until Tokyo open, where the Yen picked up some momentum and drove the Yen pairs down. This move closed the price gap, formed over the weekend, down to 125.70.

For you newbies, this 130 pip move, equates to a potential +100% profit on the trade. As I've said in the past, "Success is not in the quantity of trades you make, but rather in the quality of trades."

I hope this helped some...
hi fx

looks like your back on track

u been getting the emails,hope there not to many

still working long hours

john
  • #2,133
  • Apr 13, 2010 6:43am Apr 13, 2010 6:43am
Hey ther Buddy! You'd be happy to know that I get a ton of that stuff from other people that I never read.... but I read yours! I'm sure you're glad your working! Hope all is well with you!

Good to hear from you!

Chuck

Quoting desperate
hi fx

looks like your back on track

u been getting the emails,hope there not to many

still working long hours

john
  • #2,134
  • Oct 19, 2010 11:08am Oct 19, 2010 11:08am
Sir,

I am interested in ur system

pls send me the details to [email protected]

regards,

vasudevan
  • #2,135
  • Dec 10, 2010 5:39pm Dec 10, 2010 5:39pm
Hopefully we'll get back on here again soon. I've been a little busy but hope to get back into the swing of things, sometime in the spring.

I wish you all Happy Holidays and many +pips!
  • #2,136
  • Dec 10, 2014 12:37am Dec 10, 2014 12:37am
I am back in the trading world and in a few months will be starting a new thread. Hopefully I will be able to help the community as i one did, happy pipping.
  • #2,137
  • Last Post: May 1, 2018 10:41pm May 1, 2018 10:41pm
WOW!!! This brought back a lot of memories.... Been out of the loop for a while. U.S. regulations under Obama, just got so ridiculous, I moved in a different direction. Looking to get my feet wet again.
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