I think this was the only true recent diamond. Main diagonal was pointing up, and it broke to the downside, reaching its target.
Unimportant fellow's equally unimportant journal v2.0
- #22
- Edited 10:08am Oct 13, 2010 9:51am | Edited 10:08am
My USD/JPY 18.1 short order got activated and I'm putting a reverse at 82.03, stop at 81.71.
Also, it looks like we had 18.4 EUR/CHF.
Now let's play a game of "Is Mizuno going to be stopped out on EUR/CHF or not?"
Here's how it looks like what's going to happen. The price was decelerating, now it's flattening out, and it will start accelerating up, and stop me out, or stop me out later tomorrow. I'm not moving my stop.
15min and 30sec views. Also we can see the sexy touch it made some time after breaking the TL (I entered at the break).
Also, it looks like we had 18.4 EUR/CHF.
Now let's play a game of "Is Mizuno going to be stopped out on EUR/CHF or not?"
Here's how it looks like what's going to happen. The price was decelerating, now it's flattening out, and it will start accelerating up, and stop me out, or stop me out later tomorrow. I'm not moving my stop.
15min and 30sec views. Also we can see the sexy touch it made some time after breaking the TL (I entered at the break).
- #23
- Oct 13, 2010 12:42pm Oct 13, 2010 12:42pm
Was going through my old journal (which is in the recycle bin) and I saw this:
I feel honoured that someone is taking the time to read my old journal, even though I think it was crap, especially when there are quite a few better quality journals available!
I feel honoured that someone is taking the time to read my old journal, even though I think it was crap, especially when there are quite a few better quality journals available!
- #24
- Oct 13, 2010 3:04pm Oct 13, 2010 3:04pm
Just sold GBP/JPY as I saw that price had touched the upper border. The channel is a bit widening, so I think this might mean that there's a higher risk to trading this formation.
Entered at 129.888, SL above the day's high at 130.21. TP - 128.5. Will probably reverse if stopped out but I'll update before placing the reverse order.
Entered at 129.888, SL above the day's high at 130.21. TP - 128.5. Will probably reverse if stopped out but I'll update before placing the reverse order.
- #26
- Oct 13, 2010 3:33pm Oct 13, 2010 3:33pm
Here's the situation with USD/JPY sell, which was originally an entry for late 18.1. The market has made a third touch on a descending trend-line, thus I'm using this as an excuse to keep the trade open with the original target.
- #27
- Oct 14, 2010 4:51am Oct 14, 2010 4:51am
Just sold GBP/JPY as I saw that price had touched the upper border. The channel is a bit widening, so I think this might mean that there's a higher risk to trading this formation.
Entered at 129.888, SL above the day's high at 130.21. TP - 128.5. Will probably reverse if stopped out but I'll update before placing the reverse order.
Attachment
- #28
- Oct 14, 2010 4:53am Oct 14, 2010 4:53am
Here's the situation with USD/JPY sell, which was originally an entry for late 18.1. The market has made a third touch on a descending trend-line, thus I'm using this as an excuse to keep the trade open with the original target.
Attachment
- #29
- Oct 14, 2010 4:59am Oct 14, 2010 4:59am
My USD/JPY 18.1 short order got activated and I'm putting a reverse at 82.03, stop at 81.71.
Also, it looks like we had 18.4 EUR/CHF.
Now let's play a game of "Is Mizuno going to be stopped out on EUR/CHF or not?"
Here's how it looks like what's going to happen. The price was decelerating, now it's flattening out, and it will start accelerating up, and stop me out, or stop me out later tomorrow. I'm not moving my stop.
15min and 30sec views. Also we can see the sexy touch it made some time after breaking the TL (I entered at the break).
Attachment
Attachment ...
And as for the part where I was expecting the price to accelerate upwards and stop me out:
- #30
- Oct 14, 2010 5:09am Oct 14, 2010 5:09am
Here's a setup on CAD/JPY. It is high risk, as neither of the borders is confirmed with 3 touches. However, the lines are nearly completely parallel on fxTrade and completely parallel on MeatTrader4, so I'm willing to take a bet.
Two trades with divided risk:
Short at 82.04, SL1 - 82.22 (above TL), SL2 - 82.374 (above October 6th high)
TP - 80.2
Attachment
- #31
- Oct 14, 2010 5:22am Oct 14, 2010 5:22am
Price is moving away. Trailing my orders down by 4 pips.
Attachment
The lines are almost completely parallel, though the move sequence inside is not exactly correct, if you count the first touch on the upper border. However, I think that the first touch on the upper border and the first close approach on the lower border is something what was giving additional clues for an early entry yesterday. Next idea - buying from the bottom of the channel.
- #32
- Oct 14, 2010 6:43am Oct 14, 2010 6:43am
Here's an interesting setup on GBP/USD, giving an opportunity to sell from the upper border. I'm not going to take this, as for one, it is a broadening formation, and two, it is pointing upwards and I would have to sell from the top, something that I think reduces the odds for a successful trade. The first touch of the bottom border is not ideal either. Instead I'll wait for the upper border to be confirmed and then I'll trade the break of the lower border. If I were to sell the approach of the top border I'd choose 1.585 as the target.
- #33
- Edited 7:23am Oct 14, 2010 7:12am | Edited 7:23am
Here's an interesting setup on AUDCAD. The triangle is not formed yet, but it has three touches on the upper border. Tthe move sequence is not correct so I think it counts as a single touch only, though the third touch might be a hint that the line has some technicality. Also, this would be weekly and monthly 18.4. Not sure of a target yet. Stop would be above Sep30 high, 1.0027. I don't want to use the lower border of the potential triangle as the TP as it seems that there should be a better target available. Will update as soon as I work it out.
- #35
- Oct 15, 2010 4:11am Oct 15, 2010 4:11am
Buy order on EUR/GBP. It will only be activated if the line gets broken AND the main move of the day is changed.
Entry order at 0.88, sl - 0.8780 (below intraday low), TP1 - 0.883 (~95% ADR), TP2 - end of day. Could've sold the dotted line with a stop above the days high, but noticed it too late. The dotted line defines the triangle with correct move sequence.
Entry order at 0.88, sl - 0.8780 (below intraday low), TP1 - 0.883 (~95% ADR), TP2 - end of day. Could've sold the dotted line with a stop above the days high, but noticed it too late. The dotted line defines the triangle with correct move sequence.
- #36
- Oct 15, 2010 5:52am Oct 15, 2010 5:52am
Applying 18.1 on GBP/JPY and USD/CHF. They are at 29% and 37% of 40ADR respectively.
GBP/JPY - buy @ 130.55, stop - 130.0, tp - 131.5 (~100% 40ADR)
USD/CHF - sell at 0.9526, stop - 0.95711, tp - end of day.
These two pairs do not share any currency symbol so there should be little correlation between the two pairs. There are some news coming for USD later today so we might see an extension.
GBP/JPY - buy @ 130.55, stop - 130.0, tp - 131.5 (~100% 40ADR)
USD/CHF - sell at 0.9526, stop - 0.95711, tp - end of day.
These two pairs do not share any currency symbol so there should be little correlation between the two pairs. There are some news coming for USD later today so we might see an extension.
- #37
- Oct 15, 2010 5:59am Oct 15, 2010 5:59am
And my lovely EUR/CHF - well, I'm still playing a patience game with Miss Market.
Attachment
And as for the part where I was expecting the price to accelerate upwards and stop me out:
Attachment
- #38
- Oct 15, 2010 6:02am Oct 15, 2010 6:02am
Scratch the part with monthly 18.4, it's weekly 18.4 only. Thus I can use 0.9825 as my target, which is roughly ~ 90% AWR.
Sell order at 1.0003, stop - 1.0028. Don't want to use the lower border of the potential triangle (flag?) as my TP point as my R:R would only be 1:2 which is kinda "meh". No reverse planned yet.
