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My view journal

Just closed a short fibre from 1.3768 for some pips. Think we are going down to 1.35 but dont like open trades when I sleep.

Quoting seykota
Hi,

I understand your view.
I trade big WE gaps if I see reasons why the gap exist.

Made some pips from this ....

Good luck with your trading.
and this is what iIsee.

Approaching a region of historical resistance as well as a trendline. Both the trendline and the SR line is drawn from daily closes not lows. If I was JOB ready to intervine this is where I would do it.

On the weekly we also have a long momentum candle (which can be seen at the end of trends).

So lets see if we get some kind of technical indication of a turnaround here that we can trade.


Maybe not much of an analysis but we wait and see...

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy.gif Size: 16 KB

Attached Image (click to enlarge)
Click to Enlarge Name: audjpy_weekly.gif Size: 23 KB
U thinking long?
Spinner 'Tis in the Waiting.....
Yes but not yet.

Quoting Spinner
U thinking long?
Hi,

You wrote that you don't close based on one candle is that also true for opening a trade? If so what more do you look for? I'll give you an example from todays EUR/USD H1 chart. There is a nice hammer indicated with the arrow. I took the trade here as it sits right above an S/R identified earlier. Should I have been looking for more more confirmation? And if so should i look at lesser time frames and find a good entry candle from there?

We had good patterns on lesser timeframes in that hourly candle like

 

  1. Hammer on M30,
  2. engulfing on M15
  3. Double bottom on M5


Just trying to be more accurate with my entries and seeing confirmation before entering.

Had an nice (like its nice and stress free to be in a trade )~100 PIP ride to 1.3505

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-hammer.gif Size: 18 KB

Quoting seykota
Hi,

Yes right candle. I never close based on one candle. But the candle give me signs. Signs reduce my confidence in the trade and other signs make me close the trade.
I close always to late
Looks good to meeee!
Spinner 'Tis in the Waiting.....
Hi,

Nice trade ....
Eurusd start to make me angry because I want it to break this "old top" level.

Well hammer for me is not a "safe" trade indication and I want some comfirmation. Like price move nicely from this candelsticks. Like my USDCHF trade I still have some positions on

I use a lot fibonacci/rsi/candelsticks pattern in my trading. So I want at least 2 of 3 before I take a trade.

Last week traders act like lamb with a fox near them. So trade with some caution if you trade with "tight" SL.

Not sure I really answer your question but gave some opinion. You are all free to ask question and I try to answer them when I can.

Enjoy life....

Quoting TheSwede
Hi,

You wrote that you don't close based on one candle is that also true for opening a trade? If so what more do you look for? I'll give you an example from todays EUR/USD H1 chart. There is a nice hammer indicated with the arrow. I took the trade here as it sits right above an S/R identified earlier. Should I have been looking for more more confirmation? And if so should i look at lesser time frames and find a good entry candle from there?

We had good patterns on lesser timeframes in that hourly candle like
[list][*]Hammer on M30,[*]engulfing...
Hi,

Bank of Japan will act on yen but the question is when.
They will not do it in the middle of a storm because it will not give good results. When crisis is "over" then JPY will not be "safe" currency and some natural moves will start and BOJ will not need to put to much on table to push the move.

I know some traders loading with JPY trades. If you have big pocket then it may be an alternative.
I do not have big pocket and do not trade like that.
I avoid taking trades where I bet on JPY get stronger. So short AUDJPY is not ok for me. But I took some long AUDJPY today

//Sey

Quoting TheSwede
and this is what iIsee.

Approaching a region of historical resistance as well as a trendline. Both the trendline and the SR line is drawn from daily closes not lows. If I was JOB ready to intervine this is where I would do it.

On the weekly we also have a long momentum candle (which can be seen at the end of trends).

So lets see if we get some kind of technical indication of a turnaround here that we can trade.


Maybe not much of an analysis but we wait and see...

Attachment 790890
Attachment 790891
Hi,

I see some long sign for AUDJPY. We need confirmation for this ABCD setup but good to know what to look for.

//Sey
Attached Image (click to enlarge)
Click to Enlarge Name: Screen Shot 2011-09-28 at 6.25.52 AM.png Size: 34 KB
I take long on some m15 candle bounce...but this trend line gives me more confidence...
Attached Image (click to enlarge)
Click to Enlarge Name: AJ trade.jpg Size: 164 KB
Quoting TrendTrader
I take long on some m15 candle bounce...but this trend line gives me more confidence...Attachment 795058
Hi.

On your picture I see 2 trigger - Confidence builder -
- Rsi bouncing on 40 region.
- Trendline breakout.

@TheSwede : You see I snap some pips from JPY.

My plan is to ride this to 0% and -23%

Enjoy your day.
  • Post #72
  • Quote
  • Edited at 5:58am Sep 28, 2011 4:29am | Edited at 5:58am
Usd/jpy is being a bit stubborn. got some pips long yesterday but today bak down.
COT has less long yen traders every week.... we'll see.

as for a/j we have the rate differential in our favour. Here's my daily chart
Attached Image (click to enlarge)
Click to Enlarge Name: a j sey.jpg Size: 127 KB
Spinner 'Tis in the Waiting.....
Good luck.

Quoting seykota
Hi.

On your picture I see 2 trigger - Confidence builder -
- Rsi bouncing on 40 region.
- Trendline breakout.

@TheSwede : You see I snap some pips from JPY.

My plan is to ride this to 0% and -23%

Enjoy your day.
Just looking for now. will put some orders after 12:00 gmt
Spinner 'Tis in the Waiting.....
Ok, I don't take a trade only on a hammer either. If I see a hammer where I don't have an SR or trendline I wouldn't take it. With this approach its important go get your trendlines and SRs correct. I don't trust my trendlines to the same extent that I trust my SR's.

If I see a hammer that for some reason has a shape I don't like (guess its not a hammer then) I pass. Maybe I should start looking on something more but have never used RSI to a great extent. Maybe I should go over my trades and se how RSI have looked like when i took trades.

See chart. On the second green circle I would already be in the trade because of the engulfing on the previous bar, but thats another story.

Attached Image (click to enlarge)
Click to Enlarge Name: eurusd-h1-w39.gif Size: 24 KB




Quoting seykota
Hi,

Nice trade ....
Eurusd start to make me angry because I want it to break this "old top" level.

Well hammer for me is not a "safe" trade indication and I want some comfirmation. Like price move nicely from this candelsticks. Like my USDCHF trade I still have some positions on

I use a lot fibonacci/rsi/candelsticks pattern in my trading. So I want at least 2 of 3 before I take a trade.

Last week traders act like lamb with a fox near them. So trade with some caution if you trade with "tight" SL.

Not sure I really answer your question...
Well be a trend follower have some bad side.
Yesterday I close a very good trade on BE+5pips


So is life ....

Quoting seykota
Hi.

On your picture I see 2 trigger - Confidence builder -
- Rsi bouncing on 40 region.
- Trendline breakout.

@TheSwede : You see I snap some pips from JPY.

My plan is to ride this to 0% and -23%

Enjoy your day.
Euro / USD had a nice ride down last week.
I have a "test level" for Eurusd.
The level we need to check on h4/d1 is 1.3046.

I would not be surprise to see a long coming from this level.

Break down from here will take us to 1.2830 ....
Yes good idea
Spinner 'Tis in the Waiting.....
Hi,

Price now is 76.76
Very intressting level and Some long from this region will not be a surprise on the market.

Lets see
Not very sure about that....75.44 is also beaconing,. previous weekly low
Spinner 'Tis in the Waiting.....
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