LJ Forex Group | Page 47 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

JPY Group - Best Group to Trade 60 replies

Your experience with Forex.com [GAIN Capital Group, LLC] 37 replies

Forex Techniques Development Group 24 replies

FOREX, Robert Gray, FXLQ, and Nfa/ctfc... PLEASE REPOST IN EVERY GROUP 0 replies

Attachments: LJ Forex Group
Exit Attachments

LJ Forex Group

  • #921
  • Jan 24, 2012 4:55pm Jan 24, 2012 4:55pm
Hey LJ

Did you catch that usdnok short?

I took it but after multiple tests of 5.9 area decided to scratch it (will regret that tomorrow lol). Still have the AU long with 3 pips DD

Greenhaze
  • #922
  • Jan 24, 2012 5:23pm Jan 24, 2012 5:23pm
Quoting lovejoy80
Looking good
Trade entry triggered. First ever trade on this pair!
Attached Image (click to enlarge)
Click to Enlarge Name: usdnoktrade.gif Size: 18 KB
  • #923
  • Jan 24, 2012 5:32pm Jan 24, 2012 5:32pm
Quoting Greenhaze
Hey LJ

Did you catch that usdnok short?

I took it but after multiple tests of 5.9 area decided to scratch it (will regret that tomorrow lol). Still have the AU long with 3 pips DD

Greenhaze
You mean you've left me high and dry trading a pair I know nothing about ... thanks mate

I treat these type of pairs as daily TF setups - pretty much set and forget - of course as its essentially a continuation breakout setup I'd like to see some momentum fairly soon (i.e. by tomorrow at some point) otherwise I would cut the trade.
  • #924
  • Jan 24, 2012 5:35pm Jan 24, 2012 5:35pm
Quoting lovejoy80
Remember 'efficient trade management' is not taking 100% profit at the FLR/FLS ... and what does efficient trade management lead to - faster account growth for the same given risk
Small amount left on the table to see what AUD CPI data can bring in an hour...but if the monthly area is going to hold as resistance then price will either fall from a) the area I just took profit from or b) a double top - that monthly area is key to determining future direction on this pair IMO.
Attached Image (click to enlarge)
Click to Enlarge Name: au-trade 2.gif Size: 14 KB
  • #925
  • Jan 24, 2012 5:43pm Jan 24, 2012 5:43pm
Quoting lovejoy80
Took a BE on Gold - I did consider treating this more off a positional trend trade (as the daily TF does have some characteristics to support this - the TL and a series of lower highs and lower lows), but I prefer to stick to my FX pairs for this approach so opted for the reaction style TT trade management instead.
I thought this might happen i.e. price would go on and hit the 1661/2 area.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 19 KB
  • #926
  • Jan 25, 2012 2:58am Jan 25, 2012 2:58am
Quoting lovejoy80
Small amount left on the table to see what AUD CPI data can bring in an hour...but if the monthly area is going to hold as resistance then price will either fall from a) the area I just took profit from or b) a double top - that monthly area is key to determining future direction on this pair IMO.
The CPI spike took me out of the final position on AU so all out now - it does clearly highlight one point though - over the long term using a trade management strategy that allows you to bank regular profit and catch some runners allows for efficient , fast account growth.

Anyone that consistently takes full profit at FLR's and FLS's would do well to think about these comments.

BTW -watch that monthly chart and a potential LTF double top formation...also bear in mind that AU is very well correlated with EP right now...
Attached Image (click to enlarge)
Click to Enlarge Name: au-trade3.gif Size: 14 KB
  • #927
  • Jan 25, 2012 3:31am Jan 25, 2012 3:31am
Quoting lovejoy80
Trade entry triggered. First ever trade on this pair!
Out at BE. Normally my FLS on a trade like this would be the breakout bar low but given a) how the bar was a fair way away and b) this is a pair I know nothing about, I decided I wasn't going to take a loss once price hit the 4HR S/R area marked hence moved to BE and got stopped out.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: usdnok- 4hr.gif Size: 15 KB
Click to Enlarge Name: usdnok2.gif Size: 14 KB
  • #928
  • Jan 25, 2012 3:49am Jan 25, 2012 3:49am
Quoting lovejoy80
Couple of others on the watchlist.
This ANZD setup is back in focus again.
  • #929
  • Jan 25, 2012 3:52am Jan 25, 2012 3:52am
Some other technical setups on the watchlist.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: aj.gif Size: 26 KB
Click to Enlarge Name: ej.gif Size: 18 KB
  • #930
  • Jan 25, 2012 3:54am Jan 25, 2012 3:54am
Quoting lovejoy80
Some other technical setups on the watchlist.
Though given UJ is finally doing what I expected of it I'm slowly switching to a trend trading / position building methodology on the Yen pairs and thus the 76.60 and 81.45 areas no CJ and AJ are firmly on the watchlist.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: cj.gif Size: 22 KB
Click to Enlarge Name: aj2.jpg Size: 141 KB
  • #931
  • Jan 25, 2012 3:56am Jan 25, 2012 3:56am
An interesting confluenced location on Silver
Attached Image(s) (click to enlarge)
Click to Enlarge Name: silver1.gif Size: 19 KB
Click to Enlarge Name: silver2.gif Size: 19 KB
  • #932
  • Edited 4:25am Jan 25, 2012 4:07am | Edited 4:25am
Quoting lovejoy80
Out at BE. Normally my FLS on a trade like this would be the breakout bar low but given a) how the bar was a fair way away and b) this is a pair I know nothing about, I decided I wasn't going to take a loss once price hit the 4HR S/R area marked hence moved to BE and got stopped out.
Good Day LJ!

I had my FTA at the same area but while yesterday risk pairs were raising ,this one just stood bit below the 5.9 and that was alarming for me mainly becouse scandinavian currencies work very well during risk on sentiment.

I'm offering UJ 78.20 atm.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 69 KB
  • #933
  • Jan 25, 2012 4:34am Jan 25, 2012 4:34am
Quoting Greenhaze
Good Day LJ!

I had my FTA at the same area but while yesterday risk pairs were raising ,this one just stood bit below the 5.9 and that was alarming for me mainly becouse scandinavian currencies work very well during risk on sentiment.

I'm offering UJ 78.20 atm.
That's good info as I wasn't aware how those currencies move with risk appetite (I have never looked at these pairs before, might start looking now in more detail).

Ha, I'm in a long from the daily breakout and retrace to 77.60 - tightened up my position due to that resistance area.
  • #934
  • Jan 25, 2012 6:30am Jan 25, 2012 6:30am
Took 50% off the table on UJ short and moved stop to BE. Now i'm leaving my station hoping that H1 beob wannabe will trigger some more shorts. Good luck with those longs ..... NOT!
  • #935
  • Jan 25, 2012 6:37am Jan 25, 2012 6:37am
Quoting Greenhaze
Took 50% off the table on UJ short and moved stop to BE. Now i'm leaving my station hoping that H1 beob wannabe will trigger some more shorts. Good luck with those longs ..... NOT!
Attached Image (click to enlarge)
Click to Enlarge Name: uj daily.gif Size: 15 KB
  • #936
  • Jan 25, 2012 6:40am Jan 25, 2012 6:40am
Didn't trade it (because I'm in other correlated trades) but learning to know what price must do if your trade idea is to work out is very important when it comes to trade management.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1.gif Size: 21 KB
Attached Image
  • #937
  • Edited 12:39pm Jan 25, 2012 10:12am | Edited 12:39pm
Quoting lovejoy80
New Blog Post USD/JPY – FX Trend of 2012?

A more detailed look at Fundamentals can be seen in post from FxLive Is The Market Changing Its Tune On USD/JPY?

On a separate note, for those that got caught with an FTB short on EJ @ 101.10 yesterday, I'll detail why for me this was not a high probability trade (and hence why I did not trade it) when I get some spare time.
  • #938
  • Jan 25, 2012 12:01pm Jan 25, 2012 12:01pm
Just sold some ucad expecting it to break this support. I mean... c'mon .... low rates till end of 2014.
Attached Image (click to enlarge)
Click to Enlarge Name: ucad.jpg Size: 73 KB
  • #939
  • Jan 25, 2012 12:02pm Jan 25, 2012 12:02pm
i see 1674-1670 range as important PPZ..and 'looked like' price was about to turn..(1660 as price to hold)
with a BEOB and break of TL..
oh well i found it a decent trade.

glad did not take a full loss..but frustrating!!
risk was 1% but cut out for 0.8% of it.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 15 KB
  • #940
  • Edited 4:14pm Jan 25, 2012 12:35pm | Edited 4:14pm
Quoting Greenhaze
Just sold some ucad expecting it to break this support. I mean... c'mon .... low rates till end of 2014.
I chose some of the yellow stuff.
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 15 KB
5 traders viewing now