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N2FX - 1/5/15 Minute Pattern Trades

  • #1,901
  • Apr 15, 2010 11:09pm Apr 15, 2010 11:09pm
Quoting N2FX
I had many difficulties for 3 years trying to comprehend up close.

Then I spent one solid year watching 1 tick charts to learn how price moved, it was very enlightening, and from that point I could see it on all time frames when certain patterns and formations would appear.

Some traders are fast learners, but to be a profitable trader is something that takes time.

After 25,000 plus hours of screen time, it all started making sense.
we still haven't filled that gap on EU....would be doing that over the weekend? whats say?
Raza
  • #1,902
  • Apr 15, 2010 11:14pm Apr 15, 2010 11:14pm
Sorry did not post long setup on GU, was a 1 min 3 pip long.

Trying to put a chart together, but don't want to confuse with too much infomation.

Here is the 1 min GU.

Simple, top and bottom was formed, I took the bounce off of bottom for top target.
Stop was a break below line.

Now look for longs above or shorts below.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 1 min.jpg Size: 41 KB
  • #1,903
  • Apr 15, 2010 11:19pm Apr 15, 2010 11:19pm
Quoting shr5
we still haven't filled that gap on EU....would be doing that over the weekend? whats say?
Probably before close of market.

London was bearish, may take it down futher tonight?

My guess.
  • #1,904
  • Apr 15, 2010 11:24pm Apr 15, 2010 11:24pm
Quoting N2FX
Probably before close of market.

London was bearish, may take it down futher tonight?

My guess.
i'd second that guess of yours....
Raza
  • #1,905
  • Apr 15, 2010 11:26pm Apr 15, 2010 11:26pm
3537 trying to support, lots of pressure on the move down.

Hmm, this thing will bounce up nicely, or take us deeper.

ME, well I am watching to learn.
  • #1,906
  • Apr 15, 2010 11:28pm Apr 15, 2010 11:28pm
Quoting N2FX
3537 trying to support, lots of pressure on the move down.

Hmm, this thing will bounce up nicely, or take us deeper.

ME, well I am watching to learn.
ooh well i m waiting for 37 to break but it does seem there is lots of support there....lets see
Raza
  • #1,907
  • Apr 15, 2010 11:30pm Apr 15, 2010 11:30pm
Here is the second long gu.
Attached Image (click to enlarge)
Click to Enlarge Name: GU 1 min #2.jpg Size: 37 KB
  • #1,908
  • Apr 15, 2010 11:39pm Apr 15, 2010 11:39pm
I took the break on eu at 44. May be bad.
  • #1,909
  • Apr 15, 2010 11:40pm Apr 15, 2010 11:40pm
I am just taking small gains, this was a 4 1/2 pip gain on GU.

These setups can be found about 100 times a day per pair, but that is over trading. lol
Attached Image (click to enlarge)
Click to Enlarge Name: Exit 1 min.jpg Size: 38 KB
  • #1,910
  • Apr 15, 2010 11:41pm Apr 15, 2010 11:41pm
Stopped out. I had a tight stop. bummer
  • #1,911
  • Apr 15, 2010 11:42pm Apr 15, 2010 11:42pm
Quoting 3dragz
I took the break on eu at 44. May be bad.
The lower you get in the better, I would take anything under 37, gives you a closer stop.

Look at the 5 min chart, all those stabs of wicks at 37, good supp, we long there, it breaks we exit.

Looking at the 15 min I can see your entry, instead of the high of those 2 wicks, take long at 42, the 2 body high instead.

Just trying to keep stops closer for our entries.
  • #1,912
  • Apr 15, 2010 11:46pm Apr 15, 2010 11:46pm
Quoting 3dragz
Stopped out. I had a tight stop. bummer
The 15 min bars have low bodies at 39, so a 37 is my stop. (changed)

I am in long now at 42 bodies on 15 min and will use this stop.

This is for you 3D.
  • #1,913
  • Apr 15, 2010 11:48pm Apr 15, 2010 11:48pm
Yeah I see that now. My problem or one of my problems is being impetuous or impatient. I need to fix that.
  • #1,914
  • Apr 15, 2010 11:52pm Apr 15, 2010 11:52pm
I need to trade off the 15 minute - I guess. Traded that 6 pip loss on the 1 minute. Thought it was a breakout and got excited.
  • #1,915
  • Apr 15, 2010 11:53pm Apr 15, 2010 11:53pm
So a 42 long failed, price tapped 37.

Even though I am thinking we may see that 42 again.

Watch for low now.
  • #1,916
  • Apr 15, 2010 11:56pm Apr 15, 2010 11:56pm
Quoting 3dragz
I need to trade off the 15 minute - I guess. Traded that 6 pip loss on the 1 minute. Thought it was a breakout and got excited.
We all make those mistakes, I have traded many longs that never went my way, same with shorts.

We have those tight stops for a reason.

If price comes back above 42 in the new hour, I would enter again.

We can afford a 6 pip loss now and then, as long as were up on other trades, if we lose consecutive trades, we may need to hold off and relax some.
  • #1,917
  • Apr 15, 2010 11:59pm Apr 15, 2010 11:59pm
Well it faked me out of my shoes.
  • #1,918
  • Apr 16, 2010 12:04am Apr 16, 2010 12:04am
It's looking like a downward wedge.
  • #1,919
  • Apr 16, 2010 12:10am Apr 16, 2010 12:10am
Crashing here, will try to check in the morning, I don't like friday's much for trading.

Cheers, J
  • #1,920
  • Apr 16, 2010 12:12am Apr 16, 2010 12:12am
Later.
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