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USD/CHF

  • #2,321
  • Jul 21, 2011 3:30am Jul 21, 2011 3:30am
moved sl to 0.81412
Quoting clc4x
Long at 0.82428, S/L at 0.80718 (D1CTT, counter trend trading)

http://lcchong.files.wordpress.com/2...ng?w=877&h=397
  • #2,322
  • Edited 5:16am Jul 21, 2011 4:59am | Edited 5:16am
Looks like a long set up on a second break of .82329 from the 60 min taking the swing which i still believe is corrective against the 4 hour and daily into a deeper corrective move.

If it breaks by 1 pip then .8272 will be my target with the stop 1 pip below .81922


pipfarm
Follow The Markets Structure - Patience and Discipline
  • #2,323
  • Jul 21, 2011 7:52am Jul 21, 2011 7:52am
Quoting pipfarm
Looks like a long set up on a second break of .82329 from the 60 min taking the swing which i still believe is corrective against the 4 hour and daily into a deeper corrective move.

If it breaks by 1 pip then .8272 will be my target with the stop 1 pip below .81922


pipfarm

Trading corrective swings is not easy, this trade set up is now off as the previous swing low was broken rendering the set up as void.

I am now looking at a break of .81766 by at least 1 pip to take us back into the longer term downtrend direction with a stop one pip above .82362. My target will be .8116

pip
Follow The Markets Structure - Patience and Discipline
  • #2,324
  • Jul 21, 2011 10:20am Jul 21, 2011 10:20am
Quoting pipfarm
Trading corrective swings is not easy, this trade set up is now off as the previous swing low was broken rendering the set up as void.

I am now looking at a break of .81766 by at least 1 pip to take us back into the longer term downtrend direction with a stop one pip above .82362. My target will be .8116

pip
I shot on failing to break up the pink line.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: uch-h4.gif Size: 17 KB
Click to Enlarge Name: uch-30m.gif Size: 18 KB
  • #2,325
  • Jul 21, 2011 3:38pm Jul 21, 2011 3:38pm
Quoting Oodr
I shot on failing to break up the pink line.

Nice entry there oodor, although i stopped using these kind of trendlines break entries a long time ago as i found them a bit hit and miss, they do tend to get you in a fair bit earlier but i found that they did not give me the right perspective for placing my stops with confidence

This trade has been a bit slow moving, i guess due to the meeting of the big guns today and even now we have yet to see any significant reaction to the statement from the meeting but we are hopefully on the way to the target, as im writing this and watching the charts we are getting ever closer.

pip
Follow The Markets Structure - Patience and Discipline
  • #2,326
  • Jul 21, 2011 3:59pm Jul 21, 2011 3:59pm
Quoting pipfarm
Nice entry there oodor, although i stopped using these kind of trendlines break entries a long time ago as i found them a bit hit and miss, they do tend to get you in a fair bit earlier but i found that they did not give me the right perspective for placing my stops with confidence

This trade has been a bit slow moving, i guess due to the meeting of the big guns today and even now we have yet to see any significant reaction to the statement from the meeting but we are hopefully on the way to the target, as im writing this and watching the charts...
Stop hunted and short reentered.
Attached Image (click to enlarge)
Click to Enlarge Name: ucad-5m.gif Size: 33 KB
  • #2,327
  • Jul 21, 2011 4:02pm Jul 21, 2011 4:02pm
Quoting Oodr
Stop hunted and short reentered.
It was hunted just minutes before NY market close, at the day's highes level.
  • #2,328
  • Jul 21, 2011 4:05pm Jul 21, 2011 4:05pm
I agree with you about those types of trendline breaks. It can get you in earlier but I also have found them not fully reliable. But in the shorter time frames I do favor shorts on any pops in the pair.


Quoting pipfarm
Nice entry there oodor, although i stopped using these kind of trendlines break entries a long time ago as i found them a bit hit and miss, they do tend to get you in a fair bit earlier but i found that they did not give me the right perspective for placing my stops with confidence

This trade has been a bit slow moving, i guess due to the meeting of the big guns today and even now we have yet to see any significant reaction to the statement from the meeting but we are hopefully on the way to the target, as im writing this and watching the charts...
Trade what you see, not what you think!
  • #2,329
  • Jul 21, 2011 4:13pm Jul 21, 2011 4:13pm
Quoting Oodr
It was hunted just minutes before NY market close, at the day's highes level.

I doubt very much if it was hunted, just a wrong entry point from you as i mentioned in my previous post.

My stop has not been in danger since i entered because i waited for what i consider to be the optimum entry point, trying to catch the top of the swing is dangerous,id rather let the price show its hand first and then enter even if it means missing part of the move. Even if this trade goes against me there is usually a point of exit before the stop is hit therefore limiting the original risk involved when first taking the trade.


pip
Follow The Markets Structure - Patience and Discipline
  • #2,330
  • Jul 21, 2011 4:24pm Jul 21, 2011 4:24pm
Quoting pipfarm
I doubt very much if it was hunted, just a wrong entry point from you as i mentioned in my previous post.

My stop has not been in danger since i entered because i waited for what i consider to be the optimum entry point, trying to catch the top of the swing is dangerous,id rather let the price show its hand first and then enter even if it means missing part of the move. Even if this trade goes against me there is usually a point of exit before the stop is hit therefore limiting the original risk involved when first taking the trade.


pip
I am sorry that I put the wrong trade here, because I traded chf and cad at the same time. The short of uchf was a success, while the stop-hunted one which I had posted in the USD/CAD thread was the short of ucad. The reentered short of ucad runs OK so far.
Attached Image (click to enlarge)
Click to Enlarge Name: uchf30m.gif Size: 22 KB
  • #2,331
  • Jul 21, 2011 4:28pm Jul 21, 2011 4:28pm
Quoting Oodr
I am sorry that I put the wrong trade here, because I traded chf and cad at the same time. The short of uchf was a success, while the stop-hunted one which I had posted in the USD/CAD thread was the short of ucad. The reentered short of ucad runs OK so far.
what was the spread, the spread of usdchf at that moment was 60 pips on fxdd, now it is 16 pips!, the spread on nzd is 11 pips
  • #2,332
  • Jul 21, 2011 4:35pm Jul 21, 2011 4:35pm
60 pip spread? The highest I saw was around 8, now is back to normal around 2-3pip spreads and NZD around 4. It is the slow time of the day, no volume in the markets. I'm on FXCM.


Quoting ziko123
what was the spread, the spread of usdchf at that moment was 60 pips on fxdd, now it is 16 pips!, the spread on nzd is 11 pips
Trade what you see, not what you think!
  • #2,333
  • Jul 21, 2011 4:38pm Jul 21, 2011 4:38pm
Quoting ziko123
what was the spread, the spread of usdchf at that moment was 60 pips on fxdd, now it is 16 pips!, the spread on nzd is 11 pips
I did not noticed the spread change, since the short of USDCHF had gone well all the way. Maybe someone else can answer the question.
  • #2,334
  • Jul 21, 2011 5:50pm Jul 21, 2011 5:50pm
what did cause the huge spike? ..did i miss something?

Dukascopy, 15min chart USDCHF:

http://www.picshare.at/img/1311288792_usdchf.jpg

i cross checked with other data ...seems to be an error of my broker
  • #2,335
  • Jul 21, 2011 6:19pm Jul 21, 2011 6:19pm
it is an error from your broker, I don't see any spike like that on my charts.


Quoting torkay77
what did cause the huge spike? ..did i miss something?

Dukascopy, 15min chart USDCHF:

http://www.picshare.at/img/1311288792_usdchf.jpg

i cross checked with other data ...seems to be an error of my broker
Trade what you see, not what you think!
  • #2,336
  • Jul 21, 2011 8:56pm Jul 21, 2011 8:56pm
I dont think that is an error. I got the same spike here, on GOmarkets. Also on GBP/CHF. Anyone knows about this spike ? Anything to do with GOLD ?
Quoting OMGtrader
it is an error from your broker, I don't see any spike like that on my charts.
  • #2,337
  • Jul 22, 2011 2:36am Jul 22, 2011 2:36am
Got 2 brokers, FxPro, Alpari Uk.

FxPro spike : 133p

Alpari UK spike: 5174.2 pips !!!!!!

Must be a record or something......
Attached Image (click to enlarge)
Click to Enlarge Name: UCspike.jpg Size: 65 KB
  • #2,338
  • Jul 22, 2011 2:53am Jul 22, 2011 2:53am
Guys, that spike on usd/chf seems to be for real and it seems price is trying to get to the High of that spike. What do y'all think?
  • #2,339
  • Jul 22, 2011 2:57am Jul 22, 2011 2:57am
Quoting kostas1
Got 2 brokers, FxPro, Alpari Uk.

FxPro spike : 133p

Alpari UK spike: 5174.2 pips !!!!!!

Must be a record or something......
epic!!
  • #2,340
  • Jul 22, 2011 3:13am Jul 22, 2011 3:13am
Anyone shorting usd/chf, are you staying in?
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