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  • #1,581
  • May 10, 2012 4:01pm May 10, 2012 4:01pm
Quoting lovejoy80
The reason I added another position was because of the bounce off the clear daily SR on EP and the false breakout setup it formed on the 1HR TF.

I would have taken this outright had I seen it in time but I didn't so instead used the risk sentiment correlation to add another position short on UCHF (as well as the AU long and UCAD short that I tweeted earlier).

The end result being +3.8R on the two combined positions.
Closed the AU long and UCAD short earlier today...was looking for some more follow through but it became clear that USDx wasn't going to break below 80 and EP wasn't going to hold 1359's so it was time to scale out.

Made +1.2R on UCAD and +2.5R on AU.
Attached Image(s) (click to enlarge)
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  • #1,582
  • May 10, 2012 4:16pm May 10, 2012 4:16pm
Missed this GJ short earlier
Attached Image(s) (click to enlarge)
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  • #1,583
  • May 11, 2012 1:30am May 11, 2012 1:30am
Quoting lovejoy80
Nice chart on GJ...completely forgot about this area...multitasking proves difficult for us males at times
Closed 1/2 at 129.30 for +90 pips. Moved SL to 128.00, and will change TP2 depending on price actions.
Attached Image (click to enlarge)
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  • #1,584
  • May 11, 2012 1:37am May 11, 2012 1:37am
Quoting Balhana
Closed 1/2 at 6490 for +45 pips. Moved SL to 6545. Just changed the plan.
Closed the remainder at 1.6450 for +85 pips (+130 in total).
Attached Image (click to enlarge)
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  • #1,585
  • May 11, 2012 1:39am May 11, 2012 1:39am
Quoting Balhana
Closed the remainder at 1.6450 for +85 pips (+130 in total).
I attached the old chart...
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  • #1,586
  • May 11, 2012 2:26am May 11, 2012 2:26am
Quoting Balhana
Closed 1/2 at 129.30 for +90 pips. Moved SL to 128.00, and will change TP2 depending on price actions.
Nice, I missed both the long and the short setups on GJ yesterday, pretty annoying considering they were great looking setups.
Attached Image (click to enlarge)
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  • #1,587
  • May 11, 2012 3:03am May 11, 2012 3:03am
Quoting lovejoy80
Nice, I missed both the long and the short setups on GJ yesterday, pretty annoying considering they were great looking setups.
Added two more longs at 128.50, so three lots now. Moved SL to 128.40.

GBP/JPY 15M
Attached Image (click to enlarge)
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  • #1,588
  • May 11, 2012 3:32am May 11, 2012 3:32am
Quoting Balhana
Added two more longs at 128.50, so three lots now. Moved SL to 128.40.

GBP/JPY 15M
Closed 1/3 (one that I entered at 128.40) at 128.70 for +30 pips. +120 pips so far.

CBP/JPY 15M
Attached Image (click to enlarge)
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  • #1,589
  • May 11, 2012 3:48am May 11, 2012 3:48am
Quoting Balhana
Added two more longs at 128.50, so three lots now. Moved SL to 128.40.

GBP/JPY 15M
We were just discussing this setup in the Trading Room...here is a top down analysis.

1. Daily chart - very recent support in terms of a bar low and daily open/close

2. 4HR chart - clear SR i.e. multiple rejections within this zone as well as a falling TL - not placing a lot of importance on the TL because drawing it is subjective compared to the SR

3. 1HR - same HTF SR is clear and have a rising TL.

So now we can see price had a strong breakout from below 128.40's and this is the FTB. So now it's time to look further down the TF's to see if we can pinpoint an SD zone which gave rise to the breakout and a clear decision point to break the SR.

Scrolling down to M5 we can see the zone but it's not overly clear where the decision was made to move higher...it's a fairly wide zone arising out of previous demand up to the SR.

Finally if we look at M1 (yes M1!) we can see where the decision was made to break the SR and where the source of the big demand imbalance occurred...this is where we expect demand again and thus this is where we want to go long, just above this zone with our SL just below the M1 zone and spike lower....thus this would be @ 128.44 + spread with a SL at 128.29.

Finally, if we scroll to today's action we can see that price indeed bounced exactly from this M1 decision point @ 128.43 and has so far bounced around 50 pips.
Attached Image(s) (click to enlarge)
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  • #1,590
  • May 11, 2012 3:59am May 11, 2012 3:59am
Quoting Balhana
Closed 1/3 (one that I entered at 128.40) at 128.70 for +30 pips. +120 pips so far.

CBP/JPY 15M
Closed 1/3 at 128.85 for +35 pips (+155 pips) because I don't like those wicks. SL to BE+1. Let 1/3 to run.

GBP/JPY 15M
Attached Image (click to enlarge)
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  • #1,591
  • May 11, 2012 5:17am May 11, 2012 5:17am
Bought AU at 1.0037 for a scalp. SL to BE+1.

AUR/USD 1M
Attached Image (click to enlarge)
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  • #1,592
  • May 11, 2012 5:50am May 11, 2012 5:50am
Quoting Balhana
Bought AU at 1.0037 for a scalp. SL to BE+1.

AUR/USD 1M
Closed 1/2 at 1.0050 for +13 pips. The second lot got stopped out at BE+1.
  • #1,593
  • May 11, 2012 6:47am May 11, 2012 6:47am
Quoting Balhana
Closed 1/2 at 1.0050 for +13 pips. The second lot got stopped out at BE+1.
Heavy scalp today. Took three longs at 1.0037 for AU again and closed 2/3 at 1.0047. (+20 pips) My final target is 1.0065ish, where I will consider shorting.
Attached Image (click to enlarge)
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  • #1,594
  • May 11, 2012 7:36am May 11, 2012 7:36am
Quoting Balhana
Closed 1/3 at 128.85 for +35 pips (+155 pips) because I don't like those wicks. SL to BE+1. Let 1/3 to run.

GBP/JPY 15M
The rest one got stopped out at BE+1. +156 pips in total.
  • #1,595
  • May 11, 2012 7:43am May 11, 2012 7:43am
Quoting Balhana
Closed 1/2 at 129.30 for +90 pips. Moved SL to 128.00, and will change TP2 depending on price actions.
Nice trade, my entry was somewhat later triggered on the 1H-TF via a 1H-PB @ 1H-demand just above 4H-demand. My final target was @ 12950-ish were previous 1H-demand flips into supply, price just came within a few pips shy of my final target. Today I reentered at the left eye of a 2-day PB, at the moment price is near my entry point and close in stopping out my remaining position. Price is having trouble with a previous (dotted) suppy zone.
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Pipcrawler
  • #1,596
  • May 11, 2012 8:19am May 11, 2012 8:19am
Quoting xmzhang
Nice trade, my entry was somewhat later triggered on the 1H-TF via a 1H-PB @ 1H-demand just above 4H-demand. My final target was @ 12950-ish were previous 1H-demand flips into supply, price just came within a few pips shy of my final target. Today I reentered at the left eye of a 2-day PB, at the moment price is near my entry point and close in stopping out my remaining position. Price is having trouble with a previous (dotted) suppy zone.
Re-entered at 128.35 (15M Pinbar). This time one lot only.

GBP/JPY 15M
Attached Image (click to enlarge)
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  • #1,597
  • May 11, 2012 9:01am May 11, 2012 9:01am
Quoting Balhana
Re-entered at 128.35 (15M Pinbar). This time one lot only.

GBP/JPY 15M
Closed 1/1 at 128.61 for +26 pips.
Attached Image (click to enlarge)
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  • #1,598
  • May 11, 2012 10:53am May 11, 2012 10:53am
Took 4 shorts at 0.7875 with SL @ 7879.

NZD/USD 1M Chart
Attached Image (click to enlarge)
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  • #1,599
  • May 11, 2012 12:02pm May 11, 2012 12:02pm
Quoting Balhana
Took 4 shorts at 0.7875 with SL @ 7879.

NZD/USD 1M Chart

Closed 2/4 at 0.7867 for +16 pips, and SL to BE+1. It's too late. Maybe just need to close the rest....
  • #1,600
  • May 11, 2012 12:14pm May 11, 2012 12:14pm
Quoting Balhana
Closed 2/4 at 0.7867 for +16 pips, and SL to BE+1. It's too late. Maybe just need to close the rest....
Just closed the remainder at 0.7868 for +14 pips. +30 pips in total.
Attached Image (click to enlarge)
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