Daily Chart Trading Discussion

I was whipsawed by the market over night, but we formed a nice 1hr pin bur just under 28. i have shorted again, at 27.79 and put my stop above 28. it is at BE and im looking for 26.60 http://twitter.com/#!/highlander135

got out of silver at 26.60 for a nice profit.

Not been posting in here for a while, but here is my trade for tonight, its a daily pin bar on the USD/CHF which has occured on a pull back to resistance which was old support. I will short on the break of the low of the pin. stop above the high.

Also a 4hr pin on the gbp/chf which i will short as well. spreading the risk on the two setups- here goes...

Interesting.

So you are saying you will be going short as soon as it drops below 0.
9175 or are you going to wait for some kind o confirmation?

I will short as soon as it breaks 0.9171, I have a pending sell order there at the moment. Sometimes they never break below or above, by waiting we can avoid some dodgy trades.

This is as near to NFP that i will ever trade, normally would not trade on wednesday or after, but i like the look of these.

Both trades have now been filled and are in a small profit, now in the hands of the market gods...

Ok I have been stopped out on both trades, but its basically the same as been stopped on 1 as I split my risk over both pairs. This was the risk of trading so close to NFP, and I had hoped that the daily would have closed in profit yesterday but it did not.

This morning I realised that I was very exposed to dollar strength as i am also long on xag/usd. And that a good jobs number would likely see a spike on these pairs as well as a jump in to riskier assets like the gbp against the chf.

Having seen that i was vulnerable i took a fixed odds bet on the usd/jpy through IG that it would touch 84.16 today to protect myself from $ strength.

this did happen and i managed to reduce my loss on the gbp/chf and usd/chf to about 0.6% and now my silver has risen nicely so the day has not turned out to bad.

I quite often use options or one touch bets on days like nfp to protect myself if im in a trade, some times it works other times it doesnt.

Tought Id recap for anyone coming accross this thread.

I think SN's "Small Body Uptrend Warning" is good.
http://www.candlecharts.com/blog/

I short USD-SGD on H4 PB yesterday.
The Daily candle shown PB on closed.

Hey tradpat! good to see to see you, and that your still trading.

The market took my out during the intraday... even i thought it was a very nice PB... hit the SLo... loss 130 pips (

hi highlanders... how r u getting on?

yes... i try to trade fewer now... learn to be patience... in waiting to "ambush" on good candle patterns / set ups.

hope u r doing well in fx trading.

cheers

Something to watch... around RN for pairs below
AUD-NZD 1.2500
AUD-USD 1.0000
Gold 1800.0
Silver 40.00
NZD-USD 0.8000
USD-CAD 1.0000
USD-CHF 0.9000
CHF-JYP 85.00
EUR-AUD 1.3500
EUR-USD 1.3500
GBP-USD 1.5500

my long on eur-cad is free trade now after setting SLo=BE.
the trade was taken on H4 RN 1.3500 broken up

i got lucky today for metals.
my pending order on gold was triggered at H1.
i locked half of it to let free run

i short silver at the opening after seeing the long upper wick PB pulled back (down) on Ma... so far so good... already locked some pips to let it free run

cheers

Hey tradpat, took the exact same trade as you!, i have exited in full.

http://www.forexfactory.com/showthre...50#post4978350

i am looing at RN 35.00


about to go sleep... ooops my gold SLo was hit for 200 pips

i was looking at RN 1700


hi highlander

i recently i noticed the round numbers are good key lines for potential trades, in addition to PA and MA. try it yourself

cheers

hello there, been reading it from the begining, how are things? what happened to unclegormit?

of course, greenius.