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  • #2,301
  • Jun 15, 2010 2:15am Jun 15, 2010 2:15am
Quoting lovejoy80
I missed AU, otherwise would have taken that. EU SL is @ 1.2130 i.e. 25 pips...though might have missed the boat. Should have taken GJ touch trade.
Nothing is missed LJ they are all coming back.

Get ready.
.
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  • #2,302
  • Jun 15, 2010 2:28am Jun 15, 2010 2:28am
Quoting nasir.khan
Nothing is missed LJ they are all coming back.

Get ready.
.
Hopefully they will all come back and YMMO will be @ 10180-90 and then YMMO will soar up to 10400.

It's been a while Nasir...how are you? How is trading going...you've stopped your journal I noticed?
  • #2,303
  • Jun 15, 2010 2:30am Jun 15, 2010 2:30am
Quoting lovejoy80
both dow and oil futures are winding up for a breakout...PA seems to indicate north...
Agree it all depends on YM breaking over 10300. Still in the consolidation rectangle for the last 2 wks. IMO
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  • #2,304
  • Jun 15, 2010 2:42am Jun 15, 2010 2:42am
CJ daily pin hit the first minor trouble area and started to reverse...bit disappointing...have moves SL's on both to just above left eye. In mentime we have a 4HR pin bar off a TL, so have a pending long on a break...hopefully it wont trigger.

ECAD trades hit SL which I'd moved down to 1.2598 as didn't like the way ECAD was reversing.
  • #2,305
  • Jun 15, 2010 3:01am Jun 15, 2010 3:01am
Quoting lovejoy80
CJ daily pin hit the first minor trouble area and started to reverse...bit disappointing...have moves SL's on both to just above left eye. In mentime we have a 4HR pin bar off a TL, so have a pending long on a break...hopefully it wont trigger.

ECAD trades hit SL which I'd moved down to 1.2598 as didn't like the way ECAD was reversing.
Doh, forgot you cant hedge on Oanda so my long order just decreased my short daily pin bar trade
  • #2,306
  • Jun 15, 2010 3:01am Jun 15, 2010 3:01am
Quoting lovejoy80
Hopefully they will all come back and YMMO will be @ 10180-90 and then YMMO will soar up to 10400.

It's been a while Nasir...how are you? How is trading going...you've stopped your journal I noticed?
i'm afraid, YM is not coming back.

I bought them all when YM jumped off the TL and Double Top but then i closed them at small losses anticipating for the levels highlighted in above charts.

Thing have't been smooth outside the monitor screen here. I have stopped the journal but will continue it as things come back to normal.
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  • #2,307
  • Jun 15, 2010 3:09am Jun 15, 2010 3:09am
Quoting nasir.khan
i'm afraid, YM is not coming back.

I bought them all when YM jumped off the TL and Double Top but then i closed them at small losses anticipating for the levels highlighted in above charts.

Thing have't been smooth outside the monitor screen here. I have stopped the journal but will continue it as things come back to normal.
Yeah I was just thinking missed the boat this time... I nearly bought them all last night when YM first touched 10185.

Well I hope things come back to normal
  • #2,308
  • Jun 15, 2010 6:51am Jun 15, 2010 6:51am
Decided to go long YM and oil..plus also have small positions long on AJ and AU.

Long YM from 10264 / 67 and oil from 74.58
  • #2,309
  • Edited 7:59am Jun 15, 2010 7:49am | Edited 7:59am
Oil going ok...could do with a big push up through 76.50 area...i'd then be targeting 78.

Dow is moving up slowly...could do with a big push up through 10300...thinking og entering an additional position above 10300.

Went long E/CAD too with 1% position...series of HH and HL on 1HR chart and broken above PPZ area...could this be a trend change?!

Went long @ 1.2652, SL @ 1.2600
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  • #2,310
  • Jun 15, 2010 7:57am Jun 15, 2010 7:57am
watching this too, and in with you, more or less at same price.

watch cable. if daily closes above 4800 we might well have that trendchange!

Quoting lovejoy80
Oilo going ok...could do with a big push up through 76.50 area...i'd then be targeting 78.

Dow is moving up slowly...could do with a big push up through 10300...thinking og entering an additional position above 10300.

Went long E/CAD too with 1% position...series of HH and HL on 1HR chart and broken above PPZ area...could this be a trend change?!

Went long @ 1.2652, SL @ 1.2600
  • #2,311
  • Jun 15, 2010 8:12am Jun 15, 2010 8:12am
Quoting coolshades
watching this too, and in with you, more or less at same price.

watch cable. if daily closes above 4800 we might well have that trend change!
Yep I agree..and have a small long in play already on cable....above 1.4800 target would be 1.500 looking at daily....but we really need YMMO to break 10300 and close above it....until then I'm cautious wiht small positions long xxx/usd...and then can load up if/when dow shows us the way.

Oil is really going some now...76.90 is problem area for me.

Gold is also looking to breakout...missed my long order yesterday by few pips @ 1216

Something else I dont like is the amount of divergence across the board at these new highs...
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  • #2,312
  • Jun 15, 2010 9:17am Jun 15, 2010 9:17am
YM, H1 closed above it, if H4 confirms it we have a chance
  • #2,313
  • Jun 15, 2010 9:27am Jun 15, 2010 9:27am
Quoting ogeid
YM, H1 closed above it, if H4 confirms it we have a chance
yeah I added a second entry @ 10321. Havent played these moves great today. Really wanted to load up on xxx/usd, xxx/jpy longs on anticipation of YM breaking higher...but missed entry points earlier today (as marked by Nasir) then got in...got nervous and exited again...I find it hard to just enter positions without any specific technical play on the pair in questions.

I actually entered longs on most pairs on demo about 90mins ago and left themand am in a decent level of profit on those...should have just entered the longs this morning i.e. should have not missed my touch trade entries then I could have scaled in more positions as YM advanced. Oh well.
  • #2,314
  • Jun 15, 2010 11:01am Jun 15, 2010 11:01am
will you short this lj?
  • #2,315
  • Jun 15, 2010 11:35am Jun 15, 2010 11:35am
Quoting coolshades
will you short this lj?
Thinking about it... if 10370 on dow holds as resistance then GU should bounce down from this level. I'll be looking for GU to close below 1.4800 on 4HR chart i.e. I'll enter on way back down if that makes sense
  • #2,316
  • Jun 15, 2010 11:52am Jun 15, 2010 11:52am
I've traded very poorly today.

I knew YM was very likely to break it's range to the upside and its currently gone exactly where I expected it to go. I missed the obvious touch trade entries this morning 0.8500 on AU, 134 on GJ etc etc. When I entered YM trades I should have loaded up with about 5% worth of xxx/usd longs(cumulative) but as I did not have precise Pa on the individual pairs I kept entering and exiting. I also exited YM longs and Oil longs too early.

I entered some set lot size longs on demo this afternoon (i.e. well after the touch trade opportunities this morning) and just closed them all for a 14% account gain on demo.

Not sure why I'm being inpatient and getting nervous with positions...something I need to resolve asap!!
  • #2,317
  • Jun 15, 2010 12:08pm Jun 15, 2010 12:08pm
Some charts...

Equity futures all at daily resistance areas now. I prefer dow at 10430 , but we are still at a valid PPZ area with divergence

Gold looks good for a long if we get a retest of the TL/PPZ and I'll be putting a pending long on in a moment.

Oil is at daily PPZ too and fibs / MA confluence.

Lastly, Silver is now at a resistance area too.
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  • #2,318
  • Jun 15, 2010 12:42pm Jun 15, 2010 12:42pm
With equity futures at resistance levels its time to look at currencies to see whether we have any short opportunities. The best potential setups IMO are EJ, EU, GU and GJ...which are all at or near resistance levels....in particular GU as per chart below...PPZ and 50% fib confluence.

I still think YMMO will run up to 10430-40 area...so only going to enter a couple of trades until we get nearer that area on YMMO. GU is the best setup IMO and I've tested the water with 1% short with SL above recent highs.

Aside form this gone long E/CAD as testing broken resistance as support now.
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  • #2,319
  • Jun 15, 2010 12:59pm Jun 15, 2010 12:59pm
i too want a close below 4800 preferably on daily. lets see.

Quoting lovejoy80
Thinking about it... if 10370 on dow holds as resistance then GU should bounce down from this level. I'll be looking for GU to close below 1.4800 on 4HR chart i.e. I'll enter on way back down if that makes sense
  • #2,320
  • Jun 15, 2010 11:07pm Jun 15, 2010 11:07pm
Not having a great week so far this week and certainly not getting anywhere close to the type of weekly gains I was making nearer the beginning of this journal...trying to work out whether it's me or the market! One thing I will start keeping a record of is the type of trades I am making so either:

Touch Trade (TT)
Price Action Trade (PA)
Breakout (BO)
Intraday P&V / trend trading (P&V)
Longer Term Trend Trading (LTT)

That way I can keep a more accurate record of the types of trade I am making and which is causing me winners and which are causing more too many losers. I'll post a summary at the end of each day of all my trades per category, this way I can keep a ongoing total.
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