Trading For Those With a 9-5 Job | Page 44 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Trading For Those Who Have A Day Job 28 replies

Trading For Those Who Have A Day Job 0 replies

For those of you who ARE trading the Yen... 9 replies

Start Trading: Throw Those Excuses Out the Window 0 replies

Attachments: Trading For Those With a 9-5 Job
Exit Attachments

Trading For Those With a 9-5 Job

  • #861
  • Apr 22, 2011 5:05am Apr 22, 2011 5:05am
Quoting forexcompoun
Hi all,
price has come back to my entry for long and as such, I have exited the usdcad long. I added a small short to run till the same 0.9436 form there, I'll re-assess the long.
See chart attached.
Happy trading!
Meshach.
Hi all, yesterday I exited the buy part of my hedge expecting price to drop. The day ended as a slightly bullish pinbar. Moreso, the just completed 4hr candle broke a supply trend line. I would patiently await a re-test of this 4hr trend line. If it holds, I'll exit d sell trades and then go long. Happy trading! Meshach.
  • #862
  • Apr 22, 2011 8:11am Apr 22, 2011 8:11am
Quoting forexcompoun
Hi all, yesterday I exited the buy part of my hedge expecting price to drop. The day ended as a slightly bullish pinbar. Moreso, the just completed 4hr candle broke a supply trend line. I would patiently await a re-test of this 4hr trend line. If it holds, I'll exit d sell trades and then go long. Happy trading! Meshach.
Hi all, the 4hr candle just ended. It respected the 4hr resistance @ 0.9536 to the pip. Looking at the 1hr candles, the just concluded candle is suggestive of further down. I'll hold my shorts and re-assess around market close. Happy trading! Meshach.
  • #863
  • Apr 22, 2011 12:57pm Apr 22, 2011 12:57pm
Quoting forexcompoun
Price just touched the trend line @ 1.5400 and our sell limit has been triggered.
Now, let's journey to 1.5080/5
Happy trading!
Meshach
These trades is right up my street. I am not in yet but will look into it as we are not far away and the trend is definitely down.

Can I highlight audcad? We have a breakout to new highs bet we have not reached the all time highs.
If you think you can or cannot do it you are correct
  • #864
  • Apr 22, 2011 12:59pm Apr 22, 2011 12:59pm
Quoting Olu
These trades is right up my street. I am not in yet but will look into it as we are not far away and the trend is definitely down.

Can I highlight audcad? We have a breakout to new highs bet we have not reached the all time highs.
it is carry positive too...
If you think you can or cannot do it you are correct
  • #865
  • Apr 22, 2011 10:57pm Apr 22, 2011 10:57pm
Quoting forexcompoun
Hi all, the 4hr candle just ended. It respected the 4hr resistance @ 0.9536 to the pip. Looking at the 1hr candles, the just concluded candle is suggestive of further down. I'll hold my shorts and re-assess around market close. Happy trading! Meshach.
Funny price action. USDCAD is set to journey upwards but for a little while. The up move should be capped at 0.9556/6x region and from there we would expect price to drop.

Quite amazingly, the region I specified is in confluence with the 38.2% fibonacci retrace level of the (just ended) week's high to low. This level also serves as the retest of the back side of a newly broken demand trend line on 4hr time frame.

I simply suggest selling USDCAD @ 0.9556/6x region.
See chart attached.
Do have a lovely weekend.
Meshach.
Attached Image (click to enlarge)
Click to Enlarge Name: funny_loonie.gif Size: 21 KB
  • #866
  • Apr 23, 2011 4:48pm Apr 23, 2011 4:48pm
My take:

We have a hammer plus confirmation of the hammer (bullish)
Stoch has turned up on the daily chart (bullish)


price is in an entrenched downtrend (bearish)
price below the 100sma (bearish)

Summary: There is a potential for a rise to the immediate trendline (0.9660 area) but the trend is still down.
Attached Image
If you think you can or cannot do it you are correct
  • #867
  • Apr 24, 2011 8:59am Apr 24, 2011 8:59am
Hi Olu, re-check the level I gave you. That's about 38% expansion over last weeks range. Now subtracting that exp from 100% would give a golden ratio retrace. With a 'deep enough' retrace and a HL (higher low) made we would be set to establish an up trend on daily tf once and if we close above the previous high -Joe Ross calls that a 1-2-3 low and from there we can expect a 200% expansion of the range from point1 to point2. Hope I made a little sense? Meshach
  • #868
  • Apr 24, 2011 3:04pm Apr 24, 2011 3:04pm
Thanks for sharing your trade. I have a micro account with forex.com and gbp/aud is not showing in my list of pairs. Win or lose, can you keep us up to date on how you do on this pair? I am interested in your entry and exit strategy. Thank again and happy trading to all.

Quoting forexcompoun
Price just touched the trend line @ 1.5400 and our sell limit has been triggered.
Now, let's journey to 1.5080/5
Happy trading!
Meshach
  • #869
  • Apr 24, 2011 7:14pm Apr 24, 2011 7:14pm
Quoting 4_x
Thanks for sharing your trade. I have a micro account with forex.com and gbp/aud is not showing in my list of pairs. Win or lose, can you keep us up to date on how you do on this pair? I am interested in your entry and exit strategy. Thank again and happy trading to all.
Thanks bro, right click on ur list of pairs then select 'show all' this should make gbpaud appear. As for the trade update, sincerely, in my heart of hearts I consider the specified TP hit already but let's see if there would be any 'surprise' along the way. Meshach.
  • #870
  • Apr 24, 2011 8:02pm Apr 24, 2011 8:02pm
Hi Olu,
here's yet another trade that PERFECTLY fits the theme of this thread. GBPUSD sell, brother, its simply beautiful!! Price formed a 2-bar reversal pattern on a supply trendline- simply amazing!!
Find chart attached.
Meshach
Attached Image (click to enlarge)
Click to Enlarge Name: simply beautiful_gbpusd.gif Size: 21 KB
  • #871
  • Apr 24, 2011 8:15pm Apr 24, 2011 8:15pm
How far south do you see this going?

Quoting forexcompoun
Hi Olu,
here's yet another trade that PERFECTLY fits the theme of this thread. GBPUSD sell, brother, its simply beautiful!! Price formed a 2-bar reversal pattern on a supply trendline- simply amazing!!
Find chart attached.
Meshach
  • #872
  • Apr 24, 2011 9:38pm Apr 24, 2011 9:38pm
Quoting forexcompoun
Hi Olu,
here's yet another trade that PERFECTLY fits the theme of this thread. GBPUSD sell, brother, its simply beautiful!! Price formed a 2-bar reversal pattern on a supply trendline- simply amazing!!
Find chart attached.
Meshach
I agree with this counter trade too. The candlestick formatiol was just too overstretched. And now we have broken the low of the inside candle. One will have to be nimble though 6425 might be an initial target i.e the breakout point.
If you think you can or cannot do it you are correct
  • #873
  • Apr 25, 2011 1:00am Apr 25, 2011 1:00am
Quoting 4_x
How far south do you see this going?
1.6427 (historic)
1.6393 (psychological)

Those are the two levels to expect TP.
Do have a nice day.
Meshach.
  • #874
  • Apr 25, 2011 1:16am Apr 25, 2011 1:16am
Quoting Olu
I agree with this counter trade too. The candlestick formatiol was just too overstretched. And now we have broken the low of the inside candle. One will have to be nimble though 6425 might be an initial target i.e the breakout point.
Nice to know that we both agree on this one.
Maybe I should tell you now that I'm resident in Nigeria (Lagos).
These charts have been "proudly Nigerian".
Lets keep the flag flying bro!

You are God's best!
Meshach.
  • #875
  • Apr 25, 2011 6:53am Apr 25, 2011 6:53am
I will ride this to psych level. I'm looking forward to more Nigerian charts. I received your private message and I'm interested. Good luck to all!

Quoting forexcompoun
Nice to know that we both agree on this one.
Maybe I should tell you now that I'm resident in Nigeria (Lagos).
These charts have been "proudly Nigerian".
Lets keep the flag flying bro!

You are God's best!
Meshach.
  • #876
  • Apr 25, 2011 8:13am Apr 25, 2011 8:13am
As posted earlier the $ move against it's rivals will be a small one, if anything at all. Does the $ strenghten a bit, or just play with the field and consolidate to allow the desks to hunt for stops, only time will tell. There is alot going on behind the scenes that the average trader is not privy too right now. Sitting on your hands for 3-4 days might be the best strategy until it plays out and shows it's direction.
  • #877
  • Apr 25, 2011 9:29am Apr 25, 2011 9:29am
Quoting packtrain52
As posted earlier the $ move against it's rivals will be a small one, if anything at all. Does the $ strenghten a bit, or just play with the field and consolidate to allow the desks to hunt for stops, only time will tell. There is alot going on behind the scenes that the average trader is not privy too right now. Sitting on your hands for 3-4 days might be the best strategy until it plays out and shows it's direction.
You are right packtrain52. In fact the markets as a whole is not behaving technically. Volatility has been higher in the last few weeks and stops are being triggered left right and centre.

I would love to sit on my hands but I cant. I am nursing a small long on usdcad and a small short in gbpusd which I am hoping to close today.

I am also short july sugar

The bernanke speech is the elephant in the room. That is what will determine whether the trend continues or we have a reversal
If you think you can or cannot do it you are correct
  • #878
  • Apr 25, 2011 10:45am Apr 25, 2011 10:45am
You are absolutely right about Bernanke and his comments. Your currency trades might work out if he says the right lies. Sugar is a good move, several of us have been in sugar for several weeks and I just closed out a good coffee long last week. Sugar should solidify shortly and turn.
  • #879
  • Apr 25, 2011 11:54am Apr 25, 2011 11:54am
Quoting forexcompoun
Funny price action. USDCAD is set to journey upwards but for a little while. The up move should be capped at 0.9556/6x region and from there we would expect price to drop.

Quite amazingly, the region I specified is in confluence with the 38.2% fibonacci retrace level of the (just ended) week's high to low. This level also serves as the retest of the back side of a newly broken demand trend line on 4hr time frame.

I simply suggest selling USDCAD @ 0.9556/6x region.
See chart attached.
Do have a lovely weekend.
Meshach.
Price played out this little script to the pip. I suggest taking a short from the upper extreme region specified in the quoted text. TP is simply 61.8% fibo retrace level of las t week's high to low. Compute d pip value of last week's high-low then find 61.8% of it. Subtract this 61.8% pip value from last week's high. That's your TP. From that level we would re-assess for fresh longs. Happy trading! Meshach.
  • #880
  • Apr 25, 2011 2:38pm Apr 25, 2011 2:38pm
Quoting Olu
You are right packtrain52. In fact the markets as a whole is not behaving technically. Volatility has been higher in the last few weeks and stops are being triggered left right and centre.

I would love to sit on my hands but I cant. I am nursing a small long on usdcad and a small short in gbpusd which I am hoping to close today.

I am also short july sugar

The bernanke speech is the elephant in the room. That is what will determine whether the trend continues or we have a reversal
Exited for a total of 39 pips. It was counter trend and so was watching it like a hawk. In fact a good friend of mine that comes to this trend will question why I took these trades as I am generally a trend trader not a 'turns' trader.

As you said Packtrain52 I am sitting on my hands till after the speech

The only trade I am in now is July Sugar
If you think you can or cannot do it you are correct
2 traders viewing now