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  • #81
  • Apr 19, 2011 1:49am Apr 19, 2011 1:49am
Quoting darendse
Morning all

I am starting a little earlier this morning.....here is my view for today...

Euro....Short momentum set to continue, yesterday's fall took the price right down to bullish trendline on H4. D1 opened below bullish trend-line. M5 PA this morning suggests it will be broken. I opened short position @ 1.42155.

Aussie...Triple top on D1 formed. After breaking rising wedge on H4 short momentum set to continue based on this mornings M5 PA. Opened short @ 1.04592.

Pound.....no comment. I am sitting on sideline.

Swissy....Triple bottom on...

Closed both positions. 19 pip loss in total .
  • #82
  • Apr 19, 2011 1:53am Apr 19, 2011 1:53am
Quoting darendse
Morning all

I am starting a little earlier this morning.....here is my view for today...

Euro....Short momentum set to continue, yesterday's fall took the price right down to bullish trendline on H4. D1 opened below bullish trend-line. M5 PA this morning suggests it will be broken. I opened short position @ 1.42155.

Aussie...Triple top on D1 formed. After breaking rising wedge on H4 short momentum set to continue based on this mornings M5 PA. Opened short @ 1.04592.

Pound.....no comment. I am sitting on sideline.

Swissy....Triple bottom on...
Hey darendse

Thanks for your analysis. Can you show a pic of your Swissy flag on H4?
  • #83
  • Apr 19, 2011 1:55am Apr 19, 2011 1:55am
Quoting Custos
Either trade longer-term, or wake up at 3. Intra-day trading in the forex market without trading the london session doesn't make any sense. You would come to the party when it is already over.
What do you guys think about short-term trading the FX spot market?
Say that all timeframes lower 4H are short-term.
I've heard a few fulltime trader saying that, for short-term and scalping the currency futures would suit better.
I dont' want to discuss if short-term trading in general is a good or bad thing to do, but rather want to know if somebody has experience with futures.

Best regards
  • #84
  • Apr 19, 2011 2:10am Apr 19, 2011 2:10am
Howdy Everyone,

Sorry I didn't post yesterday. I got a bit caught up in the trading yesterday with all the volatility. Took a loss early on then spent the rest of the day waiting for another opportunity to short the EURUSD and EURJPY. That opportunity came just before the downgrade of the US and needless to say I took another hit :-).

Eventually made most of it back when I shorted both again along with the GBPJPY but it was a hell of a rollercoaster day.

Today I would like to see further Euro weakness but I wanted to see the lows taken out before I look to short. So the pairs I am looking at this morning are the AUDJPY, AUDCAD and EURCHF. These seem to be the only ones at the extremes, so I think they will be my pairs of choice this morning.

Obviously if we start to get some real momentum I will jump in and out to try and benefit but otherwise the pairs above are the ones I am interested in.

@Beyon - I don't personally trade the currency futures but I do look at the indexes. The real benefit from the futures is the ability to see the time and sales, price ladder etc. I guess from that perspective it will give you an additionaly edge but... do you know how to read this information if you had it? So therein lies your answer I think.
  • #85
  • Apr 19, 2011 2:10am Apr 19, 2011 2:10am
Quoting Lovinit
Hey darendse

Thanks for your analysis. Can you show a pic of your Swissy flag on H4?
Hi Lovinit

It is attached. I ignored the long spike from yesterday. The Triple bottom at 0.8900 is much greater significance to me.

I reopened my positions, going into London.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd-h4.jpg Size: 42 KB
  • #86
  • Apr 19, 2011 2:11am Apr 19, 2011 2:11am
Quoting darendse
Closed both positions. 19 pip loss in total .
Sorry buddy... but at least it was early on... you now have all day to make it back and more :-)
  • #87
  • Apr 19, 2011 2:24am Apr 19, 2011 2:24am
Quoting AFX-UK
Sorry buddy... but at least it was early on... you now have all day to make it back and more :-)

...thx, true. Keeps me humble and focused.
  • #88
  • Apr 19, 2011 2:29am Apr 19, 2011 2:29am
Quoting stefan416
Hey I must say I am enjoying your postings. you, as well as the others posting here, seem like a very competent trader. I was wondering if someone here could give me some advice since I am still a junior member and cannot start threads yet. I am in the beginnings of becoming a trader in Toronto, Canada. Now from what I know the London session seems to provide the largest movements out of all the sessions in the day but that would be 3am to 12pm my time. My question is how should I approach trading from a time perspective? Should I try and get up...
Hi Stefan,

I think in the beginning the most important thing is to learn your trade so to speak. So you want to learn to make profits however small they are. The reason for this is much about trading is confidence.

So in the early stages it is important to know you can do this, then later you can look at refining your art. So what that means is in the beginning I would recommend you stick to longer term charts, say 4 hor and above. This way you have alot more time to plan and exeucte your trades.

With the shorter timeframes you don't have as much time to think so you really really need a plan. Once you are in the mix you then only have your reactions.

You can be profitable trading either way. In the beginning I would recommend learning on the longer time frames.

If you have any other questions please let me know.

Best

AFX
  • #89
  • Apr 19, 2011 2:55am Apr 19, 2011 2:55am
Good morning. I am going to focus on the USD/CHF this morning. It did not go past the 0.9000 level that I was watching, so I am looking to sell that pair.
  • #90
  • Apr 19, 2011 3:00am Apr 19, 2011 3:00am
Ouch!!

I have now gone back to the drawing board.....and by the long tails on the H4 candle (Euro and Aussie), interpret this as bearish failure.

Bearish sentiment is weak, so I am standing on sideline till....

1. M5 PA confirms my analysis again.

2. PA changes in such a way that new analysis changes my viewpoint of the sentiment.
  • #91
  • Apr 19, 2011 3:17am Apr 19, 2011 3:17am
Yah so far this morning all I have seen is the pairs I wanted to short break higher. Needless to say... I am on the sidelines for the moment...

Watching, waiting like a cheetah stalking its prey... I am only interested in the trades that offer the highest probabilities. If it doesn't make sense, I am a mere spectator :-)
  • #92
  • Apr 19, 2011 3:27am Apr 19, 2011 3:27am
Quoting AFX-UK
Yah so far this morning all I have seen is the pairs I wanted to short break higher. Needless to say... I am on the sidelines for the moment...

Watching, waiting like a cheetah stalking its prey... I am only interested in the trades that offer the highest probabilities. If it doesn't make sense, I am a mere spectator :-)
AFX, I could not said it better. I feel the same way, and I too am sitting on the sidelines waiting to pounce.
  • #93
  • Apr 19, 2011 3:28am Apr 19, 2011 3:28am
Quoting AFX-UK
Yah so far this morning all I have seen is the pairs I wanted to short break higher. Needless to say... I am on the sidelines for the moment...

Watching, waiting like a cheetah stalking its prey... I am only interested in the trades that offer the highest probabilities. If it doesn't make sense, I am a mere spectator :-)
AFX, I could not said it better. I feel the same way, and I too am sitting on the sidelines waiting to pounce.
  • #94
  • Apr 19, 2011 4:07am Apr 19, 2011 4:07am
Got signal for Long USDCHF...entered @ 0.8968.

Changed my sentiment on Aussie from bearish to neutral.
  • #95
  • Apr 19, 2011 4:18am Apr 19, 2011 4:18am
I suspect the Aussie is trailing the Gold price which is almost at 1500!

Dunno why Euro and Pound is up.....could it be S&P downgrade of $....but then Swissy should also gain ?

This would suggest that either the Euro rise won't last or my long USDCHF will tank
  • #96
  • Apr 19, 2011 4:20am Apr 19, 2011 4:20am
I wish you well. I am still watching it and the EUR/USD.
  • #97
  • Apr 19, 2011 4:21am Apr 19, 2011 4:21am
The USD/CHF is looking like it is waking up, and it does look up.
  • #98
  • Apr 19, 2011 4:35am Apr 19, 2011 4:35am
Quoting Dcb
The USD/CHF is looking like it is waking up, and it does look up.

Scaled out 50% of position at +10 pips....Stop is at BE for remaining 50%.
  • #99
  • Apr 19, 2011 4:49am Apr 19, 2011 4:49am
Quoting darendse
Scaled out 50% of position at +10 pips....Stop is at BE for remaining 50%.
Congratulations! I am looking at the USD/CHF H4 bars, and you are doing well. I was not willing to chance it, but cogratulations to you.
  • #100
  • Apr 19, 2011 4:50am Apr 19, 2011 4:50am
Quoting Dcb
The USD/CHF is looking like it is waking up, and it does look up.
from h4 up to monthly, the usd/chf is in a downtrend. Trying to be smarter than the trend will break your account. So, until the trend changes, I recommend you to trade with the trend, not against it.
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