went short on aud/jpy a couple of minutes ago.
attached is aud/jpy h4 chart. cheers
am more looking to short at around 76.5, maybe 76 if it holds...
PS: 1000 posts -
(they even give you a long weekend to party!)trade safe
P
- #7,141
- Jun 30, 2010 2:26am Jun 30, 2010 2:26am
am more looking to short at around 76.5, maybe 76 if it holds...
PS: 1000 posts -
(they even give you a long weekend to party!)trade safe
P
- #7,142
- Jun 30, 2010 5:15am Jun 30, 2010 5:15am
- Joined Nov 2009 | Status: Following X to get the effect | 1,302 Posts
just updating my trade aud/usd off my posts (monday I think) :
Entered @ .8690 short +200, SL now @ .8600, added another to the same trade this morning@ .8550...
US Non-Farm kept me out of eur/usd retracement - will look for entry in few mins...
trade safe
P
I was looking AUD/USD - AUD/JPY and GBP/USD.. but all the three were screwed up....
I don't see any clear trade possible on the EUR/USD.. maybe a touch short entry off the 50% Fibo + 2300 area + up channel breakout level.....? am I right?
- #7,146
- Edited 8:44am Jun 30, 2010 8:24am | Edited 8:44am
Very nice trade Paulette
I was looking AUD/USD - AUD/JPY and GBP/USD.. but all the three were screwed up....
I don't see any clear trade possible on the EUR/USD.. maybe a touch short entry off the 50% Fibo + 2300 area + up channel breakout level.....? am I right?
It is all about the perspective you hold when looking at the charts, we can look at the same chart and all have a different perspective of the chart. Our perspectives are often different - and that is ok. Trust your strategy and own it, it is your pennies you work with and nobody else's. So pick the perspective that works for you, nothing wrong with sitting on sideline either - you dont make trades, you select those that will serve you best.
I only work with:
4hr / Day
trend, S/R, RN & 50Fib as key criteria,
then I would add elements such as CTL, channels, triangles - slight tweeks here and there, as I always try to measure twice and cut once;
S/R levels are becoming more important in a second strat which I am working on - range trading with the trend. This latest development will also aide my first strat as my id of S/R improves daily.
EUR/USD was a touch of the 61Fib, then news interfered and I have just put a small trade on below1.2250, hoping it will go to the next RN or at least the S-level @ 1.2208-ish...
EDIT: EU trade cancelled - 15
Hopes this answer your questions
Trade safe
P
Thank you very much for the nice explanation....
Yep, I agree with you... each person has his personal views of the same thing....
About S/R on range strategy, I assume that is a kind of Ping-Pong, but only taking the signals according to the overall trend....
The famous touch entries that you are playing a lot of times....
I really think it is a very advanced technique, but very profitable if you can set the S/R's and confluences in the right place..
Yep, I agree with you... each person has his personal views of the same thing....
About S/R on range strategy, I assume that is a kind of Ping-Pong, but only taking the signals according to the overall trend....
The famous touch entries that you are playing a lot of times....
I really think it is a very advanced technique, but very profitable if you can set the S/R's and confluences in the right place..
That is why.......
OPTION1: there is a commercial trendscanner indicator available (this is copyright). There are pictures given on this forum.
Option2: Use the multipair MA indicator (given on this forum)
OPTION3: use currency strength meters to filter trades. There are many available free and commercial. There is a good one given on this forum.
Please dont ask for templates. I set mine up for my own trading style.
Yeah, I'll look for those options
