Just applied 18.3 on USD/JPY. I'll leave the trade run until the end of day. Stop - 83.1.
Attachment
Next target - buying the break of a diamond, in the opposite direction of the main diagonal. Unfortunately an intraday stop will have to be used. The diamond is at a very nice location.
Attachment
Attachment
I'd like to sell the break of the following trendline, as it would give a stop outside the day's range. However, there is a divergence pointing to 1.556, so instead I'm going to wait for a false break, and buy it when the price jumps back on the trendline, and use the divergence as a target. Though of course I'll have to watch it closely, and it might go without me.
Attachment
To see the divergence I had to use a non-standard 45 minute TF.
Attachment
I'm moving the stop above the day's current high, reducing my risk. Not exactly BE but good enough.
Attachment
Because the day's range was only 55% of 44ADR (42 pips), I choose to let the trade run for a longer period of time, and I'm moving the stop to almost BE. It's a free run now.
Attachment
Next target: NZD/USD trendline break buy. A level for stops was offered, so I took it. TP based on ADR, in this case it is roughly 80 pips or 80% of 44ADR. Now the price seems to be turning around, so I'm putting a reverse order, with a stop above the current sessions high. Trade is against the MMOW, but with the MMOM.
Thanks to Mr. C for pointing out the comb on EUR/USD. Because my platform only has H3, and no H4, the comb looks a bit different. You can see the order on the chart, the stop is above yesterday's high.
Thanks to Mr. C for pointing out the comb on EUR/USD. Because my platform only has H3, and no H4, the comb looks a bit different. You can see the order on the chart, the stop is above yesterday's high.
Attachment
USDCHF sell order. Stop above the session's high. Sell order below yesterday's low. Trade will be against the MMOW but with the MMOM. The top and bottom borders are not parallel, but the formation is slightly narrowing. I could buy right now with a stop below yesterday's low, but I'm not sure of that, so I choose to trade the break instead.
- | Joined May 2010 | Status: Looking for the KO trade | 471 Posts
Hey Mizuno,
Where are you fellow? Anyway, hope you have a great holiday period, and I hope to see you back here soon, your charts have been looking good, so keep up the hard work, let's all grab some more pips in 2011.
Peace out
Where are you fellow? Anyway, hope you have a great holiday period, and I hope to see you back here soon, your charts have been looking good, so keep up the hard work, let's all grab some more pips in 2011.
Peace out
Hey Mizuno,
Where are you fellow? Anyway, hope you have a great holiday period, and I hope to see you back here soon, your charts have been looking good, so keep up the hard work, let's all grab some more pips in 2011.
Peace out
Here's a setup I'm not taking. A wedge with fully formed upper border, providing an opportunity to buy on the 3rd approach of the bottom border. However, there is a divergence against this idea, which is the reason why I'm only watching this. It probably might be worthwhile to skip the buy and sell the break of the bottom border, as if you were reversing the buy trade, but I do not see a reliable high formed yet.
The two green dotted borders are parallel.
The two green dotted borders are parallel.
Here's a setup I'm not taking. A wedge with fully formed upper border, providing an opportunity to buy on the 3rd approach of the bottom border. However, there is a divergence against this idea, which is the reason why I'm only watching this. It probably might be worthwhile to skip the buy and sell the break of the bottom border, as if you were reversing the buy trade, but I do not see a reliable high formed yet.
Attachment
The two green dotted borders are parallel.
Attachment
An intra-day stop would've been used, and I'm not too sure about the use of intra-day stops, though I have decided that I might trade some diamonds and combs with local stop placement. Senior members and Igrok himself recommend the use of outside the day's range stops only, so I'm aware that I might regret this.
Also, here's an after the fact chart. To me it only became fully visible after being broken, as I could not define the lower rising border of the right hand side of the diamond.
USDCHF sell order. Stop above the session's high. Sell order below yesterday's low. Trade will be against the MMOW but with the MMOM. The top and bottom borders are not parallel, but the formation is slightly narrowing. I could buy right now with a stop below yesterday's low, but I'm not sure of that, so I choose to trade the break instead.
Attachment
Attachment
Got greedy and was punished accordingly. Actually, it looks like there was an 18.3 in the opposite direction, giving me a clue to close and reverse, but the time was a bit early for the template, and I wasn't at the PC at the time.
Attachment
Next target: NZD/USD trendline break buy. A level for stops was offered, so I took it. TP based on ADR, in this case it is roughly 80 pips or 80% of 44ADR. Now the price seems to be turning around, so I'm putting a reverse order, with a stop above the current sessions high. Trade is against...
An early diamond buy order. I have placed the stop outside the low of the main diagonal. Looks like we have a bigger diamond, so I guess it might make sense to close and reverse the position as soon as the upper border is broken (at 1.3335 would be nice), with a stop above the week's high, as the main diagonal of the bigger diamond is upwads. Let's see what happens next, not going to sell unless this buy is a legit trade.
An early diamond buy order. I have placed the stop outside the low of the main diagonal. Looks like we have a bigger diamond, so I guess it might make sense to close and reverse the position as soon as the upper border is broken (at 1.3335 would be nice), with a stop above the week's high, as the main diagonal of the bigger diamond is upwads. Let's see what happens next, not going to sell unless this buy is a legit trade.
Attachment
Attachment
Attachment
Looks like we have a diamond in the process of formation on EUR/CHF. I will attempt to catch the second approach of the narrowing triangle, against the direction of the main diagonal. SL placed above the high of the main diagonal, entry you can see on the chart. TP point of 1.235 seems reasonable.
I tried projecting the high in the following way, but it seems that it cannot be used in this case because, and the stop would be not as attractive.
I tried projecting the high in the following way, but it seems that it cannot be used in this case because, and the stop would be not as attractive.