My J16 Style Trades

I'm watching this UJ as a short term trade, I'm keeping my uj daily long as is, if this short term short on UJ happens, I'll take on a different account.

So obvious 1hr pin at resistance, this alone wasn't good enuf, if the pin was higher off the resistance, I woulda played it, so I'm looking for another test of this resistance, with some PA, to get short. Pref it really hits the resistance for real and gives some good pa.

here's the chart.

EDIT: If this was during london or usa session ,I woulda probably played this, or if it had a been a nice clean run up before creating the pin, I would have also played it. To much consolidation around the pin during dead times really makes it a no go, just wanted to make it clear why this first pin wasn't good enuf for me.

Long ej 113.78 stop 113.58 risk .5%

Sorry can't talk about the trade yet, busy managing trades. Will post about it later.

UJ Long I'm still in, the stop was at 83.50, stop missed getting hit by 1/10 of a pip, I'm moving that stop to 83.45, probablay still get hit, but in case we some how form a low here the extra 5 pip buffer is worth it for me.

EJ moving stops to b/e 113.78

Here is a trade I'm also in, this is a differnet account to the one i'm trading with the trades on this thread.

So it doesnt' count towards this threads performance, I just want to post it incase anyones interested in this type of setup.

If you look at the red arrows, the wicks are the same length then the bar high breaks, enter with stop below todays low.

I learnt this from a friend.

Worsk great alot of the time.

Ask any questions if interested in it, and my explanation is not clear.

stopped out for b/e

No updates other then Uj still hanging on.

Some might find this of interest, I sure was shocked, I have read on many occasions how bad the support is at IB, and how they only help you during setup of account, they must have changed there attitude, cause they are so helpful, it's really cool.

5.8% gain so far!
Good going Smith

Thanks Lord.

So took a hit on UJ, trades on this thread are all flat for now.

Some new trades possibly brewing, will post when they arrive.

what's the reason behind taking this 'setup'? what about the wicks?
btw, the wicks are not exactly the same length.

Thanks!

A friend showed me, basically it's a momentum trade, works well on lower tf's as well, kind of like you get a strong bar, then it retraces a little, closer the wick size the better, then once the previous bar hi/low breaks get in, stop size is always small, and often produces big runs, wick size's dont' have to be exactly the same esp on daily, but on 4hr or lower, its goto be really close in size.

This particular trade is not looking good, euro seems to really need a good retrace.

Sometimes during news times it's a good way to catch the run, without jumping straight in and getting wipsawed, lower tf of course for that purpose.
I hope this explained it somewhat, if still not clear I can try again.

My next setup is daily Pound/cad if it closes like this, I'll be playing a break, and or retrace, not sure yet, willb e sure to place setup as it triggers.

I hope my last few losses will keep the trolls away, since you guys now know I am a failure, you won't have any reason to post here anymore.

Here is the pcad chart, obviously I'm looking at the daily bearish outside bar, hopefully closing below 6200 and engulfing the previous 3 days, this should be good for some pips.

.1% short pcad, enter 6208 stop 6235

will add on break or otehr scenario, talk about it later, busy.

So reason for trade was the daily beob, retrace to just above 6200,
stop placement reason is on the chart, bar high.

I will be playing the daily break as well, and or more retrace entries.

Shorted au/usa 9665 stop 9682

reason 5 min pin at area that I like, chart will follow.

risking .2%

Heres the aussie area I like, only willing to risk small for a few re asons like against large tf trend, time of day, but often times I do catch huge runs from these little dirty entries, long term they pay off.

EDIT: 5 min pin chart added

Got smoked, keep risk small on these for a reason, I'll catch one soon then you'll understand why I bother with them.

Ok, I've set my orders for the straight daily play of pound/cad

Entry is 6119 stop is 6435, I will be fast to move stops down.

I'm risking .5% not quite good enuf of a setup to risk 1 %

The setup is the daily beob chart a few po sts back.

shorted aus at 9664 stop 9682 risk .5%

very risky trade

Stops to b/e here is hcart of where we are.