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  • #2,341
  • Dec 7, 2012 7:58am Dec 7, 2012 7:58am
Quoting burnzmeister
Okay,

We just had green figures across the board for the US and this has given rise to a saucey little setup on GBP/JPY: A bounce from the 200 and intersection of the 12 and 72 EMAs. However, this is obviously a spike from the news, so the question is: Do we trade it? It is also Friday, so any move to finish off the week will be limited.

What do you guys think?

*Edit: The setup hasn't completed yet...
I saw that, was trading the UK 100 at the time. I hit my TP on the 100 but decided to volatile to trade!
  • #2,342
  • Dec 7, 2012 8:04am Dec 7, 2012 8:04am
Quoting burnzmeister
Okay,

We just had green figures across the board for the US and this has given rise to a saucey little setup on GBP/JPY: A bounce from the 200 and intersection of the 12 and 72 EMAs. However, this is obviously a spike from the news, so the question is: Do we trade it? It is also Friday, so any move to finish off the week will be limited.

What do you guys think?

*Edit: The setup hasn't completed yet...
It is also a close of 4H bar according to my broker time... which shows an outside bar, a good bullish sentiment.... I would not enter with such a huge SL though (70 Pips).... more over this pairs not in my trading list.... so i don't know much about it....

Again its a friday..... keep a note...

Cheers,
FX-Pro
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  • #2,343
  • Dec 7, 2012 8:10am Dec 7, 2012 8:10am
Any one entered the A/U 1H.... Trigger ?
  • #2,344
  • Dec 7, 2012 8:16am Dec 7, 2012 8:16am
Quoting FX-Pro
It is also a close of 4H bar according to my broker time... which shows an outside bar, a good bullish sentiment.... I would not enter with such a huge SL though (70 Pips).... more over this pairs not in my trading list.... so i don't know much about it....

Again its a friday..... keep a note...

Cheers,
FX-Pro
Agreed. The SL would have been way too large. Your H4 chart looks exactly the same as mine. Nice to know I'm seeing the same channels/trends you are
Most people have the will to win, few have the will to prepare to win
  • #2,345
  • Dec 7, 2012 8:17am Dec 7, 2012 8:17am
Quoting FX-Pro
Any one entered the A/U 1H.... Trigger ?
What about the strong resistance at 1.0480. Doesn't that put you off?
Most people have the will to win, few have the will to prepare to win
  • #2,346
  • Dec 7, 2012 8:25am Dec 7, 2012 8:25am
Not Much Movement from morning.... So i entered with a single lot...

dot want to risk too much on this trade...

Lets see...
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  • #2,347
  • Dec 7, 2012 8:30am Dec 7, 2012 8:30am
Quoting burnzmeister
What about the strong resistance at 1.0480. Doesn't that put you off?
Yes it does.... however I was expecting this pair out of channel (Above the channel) yesterday itself.... with the little bit of A/U Fundamentals... but the bulls could not hold the high yesterday....

I'm assuming its a pull back from the current uptrend.....

Lets see...
  • #2,348
  • Edited 9:04am Dec 7, 2012 8:31am | Edited 9:04am
Is there a re-entry set up at aud/chf with rejection of a RN and close above the PAC?
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  • #2,349
  • Dec 7, 2012 8:41am Dec 7, 2012 8:41am
Quoting FX-Pro
Yes it does.... however I was expecting this pair out of channel (Above the channel) yesterday itself.... with the little bit of A/U Fundamentals... but the bulls could not hold the high yesterday....

I'm assuming its a pull back from the current uptrend.....

Lets see...
It's a tough call. Good Aussie jobs figures yesterday and good US jobs figures today. Good luck mate.
Most people have the will to win, few have the will to prepare to win
  • #2,350
  • Dec 7, 2012 8:41am Dec 7, 2012 8:41am
Price for A/U looks really wedged in between sloping support line and 1.4800 resistancezone.
Would the tilt of the channel suggest good odds for bullish breakout of the wedge?
  • #2,351
  • Dec 7, 2012 8:48am Dec 7, 2012 8:48am
Quoting chux33
Price for A/U looks really wedged in between sloping support line and 1.4800 resistancezone.
Would the tilt of the channel suggest good odds for bullish breakout of the wedge?
That's the general idea with wedges, because you'd be going with the trend. Hence, a bullish breakout is more likely.

However, it's always good to see strong momentum before entering, and I don't see one here yet IMHO
Most people have the will to win, few have the will to prepare to win
  • #2,352
  • Dec 7, 2012 8:57am Dec 7, 2012 8:57am
Quoting chux33
Would the tilt of the channel suggest good odds for bullish breakout of the wedge?
That's what i'm looking for...

I may wait for the next bar or two & close it.... as i don't keep open position on the weekends...

Lets see...
  • #2,353
  • Dec 7, 2012 9:46am Dec 7, 2012 9:46am
Quoting FX-Pro
Not Much Movement from morning.... So i entered with a single lot...

dot want to risk too much on this trade...

Lets see...
On BE.... with + 18 Pips.....

Cheers,
FX-Pro
  • #2,354
  • Dec 7, 2012 9:48am Dec 7, 2012 9:48am
Hey FX-pro, looks like you got the breakout.
Do you take profit at .0500 or before?
(if u dont run out of time...)

guess the answear is above...
  • #2,355
  • Dec 7, 2012 9:52am Dec 7, 2012 9:52am
Quoting dervel
Is there a re-entry set up at aud/chf with rejection of a RN and close above the PAC?
Nope...!

Not a good one IMO...

Here is how i look for Re-Entry setup

http://www.forexfactory.com/showthre...87#post6011487

Cheers,
FX-Pro
  • #2,356
  • Dec 7, 2012 9:58am Dec 7, 2012 9:58am
Quoting FX-Pro
On BE.... with + 18 Pips.....

Cheers,
FX-Pro
Who am I to counter your logic FX-Pro, lol. Good call
Most people have the will to win, few have the will to prepare to win
  • #2,357
  • Dec 7, 2012 10:12am Dec 7, 2012 10:12am
Quoting burnzmeister
Who am I to counter your logic FX-Pro, lol. Good call
Its just the trust that i have in my edge & thats it....

Your views are always welcome...

In fact you are trying to pick those A++ trades... I can see that....

Good Luck...
FX-Pro
  • #2,358
  • Dec 7, 2012 10:17am Dec 7, 2012 10:17am
Quoting FX-Pro
On BE.... with + 18 Pips.....

Cheers,
FX-Pro
Oh I Cant....

Price is approaching 1.0500....

I closed it for 20 Pips...

Night Night....
FX-Pro
  • #2,359
  • Dec 7, 2012 10:30am Dec 7, 2012 10:30am
Quoting FX-Pro
Its just the trust that i have in my edge & thats it....

Your views are always welcome...

In fact you are trying to pick those A++ trades... I can see that....

Good Luck...
FX-Pro
I think I've been looking at too many pairs to tell you the truth. Different pairs really do behave differently and tend to have their own optimal entry paterns. I'm only looking at the Aussie from now on, until I've mastered it! The outside bar really does seem like a good EMA bounce entry and S/R bounce re-entry pattern for this pair.

Do you have a reliable entry pattern you look out for over any others FX-Pro?
Most people have the will to win, few have the will to prepare to win
  • #2,360
  • Dec 7, 2012 11:06am Dec 7, 2012 11:06am
Quoting FX-Pro
Any one entered the A/U 1H.... Trigger ?
Yes. I was in.
Made +20pips
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