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Trading For Those With a 9-5 Job

  • #1,001
  • May 17, 2011 5:40am May 17, 2011 5:40am
Hi all,
GBPJPY has completed its average daily range for today AND we saw a reversal in the type of candle in the just concluded hour.
This might not really qualify for a trade for those with a 9-5 job but I think a 130pip (potential) trade should have some level of "immunity".
Sell GJ @ market price TP 131.50 SL 65pips

See chart attached.
Happy trading!
Meshach.
Attached Image
  • #1,002
  • May 17, 2011 2:42pm May 17, 2011 2:42pm
Where have you been? Hope all is well?
If you think you can or cannot do it you are correct
  • #1,003
  • May 17, 2011 3:32pm May 17, 2011 3:32pm
Quoting Olu
Where have you been? Hope all is well?
I'm fine, thank you bro.
  • #1,004
  • May 17, 2011 3:54pm May 17, 2011 3:54pm
It appears the dollar weakness trend is resuming. I have uploaded a daily chart of the usdchf where the retradement appeard to have come to an end. This chart is similar to usdcad and usdsgd

Price is below the 100sma
stochastics have turned
trend line break

Ripe for a short trade. Also the yen crosses are flying. The audjpy looks good too.
Attached Image (click to enlarge)
Click to Enlarge Name: usdchf-daily-17052011-2142uk.jpg Size: 73 KB
If you think you can or cannot do it you are correct
  • #1,005
  • May 17, 2011 6:27pm May 17, 2011 6:27pm
[quote=baz;4622197]
Quoting golferfx

thanks Golfer... yes ,i knew about JIm Rogers... i watched a Video of an interview he gave...in front of an audience in the states ( american university..it may have been on television..he was wearing a graduation cap )

anyway thanks...
and also looking at the EURO..the weekly is in BULLISH TREND as per the MAs...BUT my Mind Says ( SEEs ) ,its in a BEARISH MODE ..looking at the WEEKLY PRICE BARS ( BEARISH ENGULFING of a RESSISTANCE LEVEL )..
How do you get round this Contradiction ???

baz


Hey Baz,

I quess Olu said it best...I just don't trade it.

With that said, eur/usd is the largest traded pair anywhere...but you know my friend...I really have not been too interested in the pair.

If the dollar is so freakin weak...then why not go with a currency that is too freakin strong.

So, long Aud/usd was good...short usd/sgd was good...even short usd/chf was good.

I guess I'm not a regular on the 5 minute sites.

I hope this helps,



golferfx



p.s. fXc good call bro on gbp/jpy !
  • #1,006
  • May 17, 2011 11:32pm May 17, 2011 11:32pm
[quote=golferfx;4625095]
Quoting baz
. . . p.s. fXc good call bro on gbp/jpy !
Thanks a bunch bro.
  • #1,007
  • May 18, 2011 2:35am May 18, 2011 2:35am
[quote=golferfx;4625095]
Quoting baz



Hey Baz,

I quess Olu said it best...I just don't trade it.

With that said, eur/usd is the largest traded pair anywhere...but you know my friend...I really have not been too interested in the pair.

If the dollar is so freakin weak...then why not go with a currency that is too freakin strong.

So, long Aud/usd was good...short usd/sgd was good...even short usd/chf was good.

I guess I'm not a regular on the 5 minute sites.

I hope this helps,



golferfx



p.s. fXc good call bro on gbp/jpy !

thanks Golfer....
always a lesson to be learned....just like Jake Lemmon ,right at the end of the Movie " The Legend Of Baggar Vance "..
i am sure you know of the Movie.... life lessons on a Golf Course .... and people think its only a Sport !!!

take care and all the best

baz
  • #1,008
  • May 19, 2011 9:06pm May 19, 2011 9:06pm
Hi all,
this trade has interest rate differential as its main propellant.
Daily tf just showed a degree 2 swing low,
See chart attached.
BUY AUHF TP OPEN SL 0.9379
Happy trading!
Meshach
Attached Image
  • #1,009
  • May 20, 2011 8:20am May 20, 2011 8:20am
Hi Guys

Have been very busy in my 9-5 that I havent posted recently. See that's why we need to hone our skills and escape the 9-5 finally

Check out the gbpnzd. Price is just sitting on support and if (maybe when) it breaks we will revisit the lows (400pips) and beyond. The trend in this pair has been relentless down.The gbp has been a consistent underperformer recently. It is carry positive too
Attached Image
If you think you can or cannot do it you are correct
  • #1,010
  • May 20, 2011 8:21am May 20, 2011 8:21am
Just an update

The only trades I am in at the moment is

Short July Sugar
If you think you can or cannot do it you are correct
  • #1,011
  • May 20, 2011 8:27am May 20, 2011 8:27am
Quoting forexcompoun
Hi all,
this trade has interest rate differential as its main propellant.
Daily tf just showed a degree 2 swing low,
See chart attached.
BUY AUHF TP OPEN SL 0.9379
Happy trading!
Meshach
Will keep an eye on audchf. By the way what is the basis of your using ATR260?Is there a lot of advantage over the usual 10,14 or 21?
If you think you can or cannot do it you are correct
  • #1,012
  • May 20, 2011 9:16am May 20, 2011 9:16am
Quoting Olu
. . . By the way what is the basis of your using ATR260?Is there a lot of advantage over the usual 10,14 or 21?
260days = 1 trading year
5days *52weeks
Happy trading!
Meshach.
  • #1,013
  • May 20, 2011 11:11am May 20, 2011 11:11am
Quoting forexcompoun
260days = 1 trading year
5days *52weeks
Happy trading!
Meshach.
i thought so but just wanted to confirm

Olu
If you think you can or cannot do it you are correct
  • #1,014
  • May 20, 2011 11:15am May 20, 2011 11:15am
Went short this pair @3825. Stop was just above the recent high. Looking for new lows. First challenge is the 3760 support.

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: eurcad-hourly-20052011-1713uk.JPG Size: 82 KB
If you think you can or cannot do it you are correct
  • #1,015
  • May 21, 2011 7:11pm May 21, 2011 7:11pm
Hey 9/5'rs.


2 Charts to put on your radar.

Euro/pound.

Told Olu .9000 would be a resistance.

Now we have a weekly chart with a trendline that looks like it will break back below.

Daily is a nice 1-2-3 at the resistance and the break below .8650 should send the bulls into hybernation and the bears to come out to play with targets below .8250/.8150.

Let's plan ahead.



golfer
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eg weekly.gif Size: 20 KB
Click to Enlarge Name: eg daily.gif Size: 28 KB
  • #1,016
  • May 22, 2011 6:07pm May 22, 2011 6:07pm
find upoaded a daily chart of the above pair.

price is under the 100sma
price is forming a potential H&S
stoch has turned down again

head to neckline distance is around 950pips. A break of the neckline/support could target the low 1.23xx area! A good trade for the 9-5ers when it happens. Fundamentally the trouble is brewing again in the euro and this could cause it to move down fast.

Olu
Attached Image (click to enlarge)
Click to Enlarge Name: euraud-daily-22052011-2357uk.jpg Size: 113 KB
If you think you can or cannot do it you are correct
  • #1,017
  • May 22, 2011 6:19pm May 22, 2011 6:19pm
Quoting golferfx
Hey 9/5'rs.


2 Charts to put on your radar.

Euro/pound.

Told Olu .9000 would be a resistance.

Now we have a weekly chart with a trendline that looks like it will break back below.

Daily is a nice 1-2-3 at the resistance and the break below .8650 should send the bulls into hybernation and the bears to come out to play with targets below .8250/.8150.

Let's plan ahead.



golfer
Hi Golfer I was going to upload my own chart of the eurgbp to put on our watch but you beat me to it.

The stoch has turned down
price is just about sitting on the 100sma
massive large bearish candle

As Golfer said I was bearish on this pair but golfer correctly said we would hit 9000. We seem to be on the way down now and the time might be now to find suitable entries for shorting

Olu
If you think you can or cannot do it you are correct
  • #1,018
  • May 22, 2011 6:35pm May 22, 2011 6:35pm
Quoting Olu
Hi Golfer I was going to upload my own chart of the eurgbp to put on our watch but you beat me to it.

The stoch has turned down
price is just about sitting on the 100sma
massive large bearish candle

As Golfer said I was bearish on this pair but golfer correctly said we would hit 9000. We seem to be on the way down now and the time might be now to find suitable entries for shorting

Olu
Olu..if i may ..can i ask why you have chosen the 100 SMA as a TREND FILTER or Confirmation ...??

thanks

baz
  • #1,019
  • May 22, 2011 6:43pm May 22, 2011 6:43pm
Quoting baz
Olu..if i may ..can i ask why you have chosen the 100 SMA as a TREND FILTER or Confirmation ...??

thanks

baz
Hi Baz

The 100sma just hapened to be the sma I have had the most success with. I have another system with the 13sma and the 10 rsi on it that I also use. As far as I am concerned interpreting price action is the most important but it helps if certain simple indicators line up with what you are thinking. I also use the 13/34 ema on a weekly chart to detect an entrenched trend

The 13ema 10rsi is what put me into the eurcad @3825

Olu
If you think you can or cannot do it you are correct
  • #1,020
  • May 22, 2011 6:49pm May 22, 2011 6:49pm
Quoting Olu
Hi Baz

The 100sma just hapened to be the sma I have had the most success with. I have another system with the 13sma and the 10 rsi on it that I also use. As far as I am concerned interpreting price action is the most important but it helps if certain simple indicators line up with what you are thinking. I also use the 13/34 ema on a weekly chart to detect an entrenched trend

The 13ema 10rsi is what put me into the eurcad @3825

Olu
thanks for your reply..
Looking at Cable..it has stopped at the 100 sma..and the TL... Last Week we had a Small Body on the WEEKLY BAR..perhaphs a Pause ...after the BEEB the previous week ...the MONTHLY CLOSE will be the INTRESTING PA bar..
thanks
and take care

baz

USD Spot.png
Attached Image (click to enlarge)
Click to Enlarge Name: USD Spot.png Size: 11 KB
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