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  • #1,761
  • May 24, 2010 1:37pm May 24, 2010 1:37pm
Some areas I like in order to take some trend trades i.e. pullbacks to confluenced areas on the H4 or daily timeframe in order to get into the current trend @ a discount. I like to use confluence of a H4 od daily PPZ together with 50 or 61 fibs rounded to the nearest round nubmer i.e. 50 or 00.

Have to be careful with correlation on these as they are mostly against the USD or JPY so should move in the same direction depending on the movement of the dow etc. These trades are on the assumption that the dow will reach new lows after a pullback i.e. that we are still in a downtrend and that this move down in the equity markets is not just a 'correction' , thus I'd prefer to just trade what my charts tell me and not try and second guess something that I have no way of forseeing.

AU - 0.8500
UC - 1.0450
CJ - 86.00
EU - 1.2500
GU - 1.4850
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  • #1,762
  • May 25, 2010 12:59am May 25, 2010 12:59am
daily IB staddling 70 BRN....entry just below the previous bar low.
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  • #1,763
  • May 25, 2010 1:05am May 25, 2010 1:05am
Quoting lovejoy80
daily IB staddling 70 BRN....entry just below the previous bar low.


Pending since yesterday. 69.5 would have been a better entry, but would have been exposed to a sharp bounce at this level.
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  • #1,764
  • May 25, 2010 1:15am May 25, 2010 1:15am
Dax gapped open over 100pips! Dow sitting at a double bottom.
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  • #1,765
  • May 25, 2010 1:16am May 25, 2010 1:16am
Quoting neutro


Pending since yesterday. 69.5 would have been a better entry, but would have been exposed to a sharp bounce at this level.
Indeed it would or even 70.80 based on falling TL and resistance on 4HR chart. Not being too aggresive at the moment with my price actoin setups as they have not been overly reliable lately.
  • #1,766
  • May 25, 2010 1:26am May 25, 2010 1:26am
Quoting lovejoy80
Indeed it would or even 70.80 based on falling TL and resistance on 4HR chart. Not being too aggresive at the moment with my price actoin setups as they have not been overly reliable lately.
Question is what's the target? I see only space...

67?
  • #1,767
  • May 25, 2010 1:28am May 25, 2010 1:28am
Also sold gold on spreadbetting account...4H TL and small pin bar...looking for a hard break below MA and PPZ below.
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  • #1,768
  • May 25, 2010 1:31am May 25, 2010 1:31am
pending order below this support on Oanda with SL above the three bar highs.
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  • #1,769
  • May 25, 2010 1:33am May 25, 2010 1:33am
Quoting neutro
Question is what's the target? I see only space...

67?
1st real target would be 67.50 for me (look @ aug / sep 09) but there a few bar wick lows around 68-68.30 but if they act as support then I'll be peeved lol!
  • #1,770
  • May 25, 2010 1:54am May 25, 2010 1:54am
Went long UC on a break above the recent highs...hoping this isnt going to be a false breakout like GU, UCHF and UJ were yesterday!
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  • #1,771
  • May 25, 2010 2:24am May 25, 2010 2:24am
Closed Gold for + 0.66% as it didnt break down hard like I wanted. Will take profit and put a pending order @ 1184 (SL @ 1192 - 2%) i.e. below the PPZ and catch the break.
  • #1,772
  • May 25, 2010 2:33am May 25, 2010 2:33am
Tried a more aggresive entry on UC breakout...1% on the position with tight SL 2% on the wider SL position.
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  • #1,773
  • May 25, 2010 3:04am May 25, 2010 3:04am
EG trade in play now SL @ 0.8592 - 2% at risk

Loooking for a hard break through 0.8545 area and then TP would be .8500
Attached Image (click to enlarge)
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  • #1,774
  • May 25, 2010 3:52am May 25, 2010 3:52am
Took full profit on Oil short @ 67.50 area PPZ...cant take partial profit otherwise would have done to let some run, but I've closed the conservative UC long too as this has also hit a PPZ @ 1.0777 but have left the more aggresive entry open with SL moved to BE+1...this way I still have exposure if Oil does break lower as UC and oil are closely correlated.

Made +2.47% on oil trade and +0.31% on UC
  • #1,775
  • May 25, 2010 5:04am May 25, 2010 5:04am
Made a mistake and instead of moving SL on UC I accidentally closed it...grrrr closing price was 1.0786...very annoying as played the oil / UC combination quite well I thought.

Still in EG short, Sl moved to BE and looking to taek some profit @ 0.8515
  • #1,776
  • May 25, 2010 5:07am May 25, 2010 5:07am
Gold looks like it will break down...pending order still in place from earlier.

Will take another oil trade short if we can break down through the PPZ.

Also watchng the GU and GJ ranges for a break south.
  • #1,777
  • May 25, 2010 5:31am May 25, 2010 5:31am
Quoting lovejoy80
Gold looks like it will break down...pending order still in place from earlier.

Will take another oil trade short if we can break down through the PPZ.

Also watchng the GU and GJ ranges for a break south.
What panic... This is how the Romanian stock exchange looks like: http://bvb.ro/

I managed to catch the NU triangle break. Wanted to add as price moved down but got cold feet and instead of opening a new position at around 0.661 I closed a short...

Also closed half of Oil at 67.5, other half has TP at 67.05.
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  • #1,778
  • May 25, 2010 5:36am May 25, 2010 5:36am
Quoting neutro
What panic... This is how the Romanian stock exchange looks like: http://bvb.ro/

I managed to catch the NU triangle break. Wanted to add as price moved down but got cold feet and instead of opening a new position at around 0.661 I closed a short...

Also closed half of Oil at 67.5, other half has TP at 67.05.
Bl*ody hell!

That was a nice triangle break...dont have NU on my watch list, maybe I should NU and NJ hmmm.
  • #1,779
  • May 25, 2010 5:39am May 25, 2010 5:39am
Have just taken 50% profit on EG short at minor PPZ and moved SL on remainder to jsut above the TL...TP is just above the round number which is also a daily PPZ...I'll take 50% of the remaining profit of at this level and move SL down on the remainder.
Attached Image (click to enlarge)
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  • #1,780
  • May 25, 2010 5:51am May 25, 2010 5:51am
LJ I just found a nice indi that you will like. I do not want to post it here so if you like please send me a mail so that I can attach it to it.

Neutro same thing.
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