Cable was a loser, but gives us a nice level to get long at next week
Attached Image (click to enlarge)
- #125
- Sep 17, 2013 9:30am Sep 17, 2013 9:30am
Git dat money {image}
A really spot on contrarian trade, a perfect example of the pattern, well the way I look at it anyway.
Look at the move off that entry......
- #131
- Sep 21, 2013 7:03am Sep 21, 2013 7:03am
Timeframe
From tick to monthly it's just one big zoom in or out on the actual price.
Be aware of where price is in relation to previous swing points and levels, use the zoom to help give you perspective on those relations. Trade your method. That's it.
From tick to monthly it's just one big zoom in or out on the actual price.
Be aware of where price is in relation to previous swing points and levels, use the zoom to help give you perspective on those relations. Trade your method. That's it.
Timeframe From tick to monthly it's just one big zoom in or out on the actual price. Be aware of where price is in relation to previous swing points and levels, use the zoom to help give you perspective on those relations. Trade your method. That's it.
are you sure with monthly senior? it's kinda long. >.<
{quote} I know your 1st language isn't english but I don't understand what you're on about, and I think you've missed my point anyway. .....Oh yeah.... if you call me "senior" one more time you go on the ignore list, get your shit together or sling your hook elsewhere..... capeesh? Have a nice weekend.
{quote} I know your 1st language isn't english but I don't understand what you're on about, and I think you've missed my point anyway. .....Oh yeah.... if you call me "senior" one more time you go on the ignore list, get your shit together or sling your hook elsewhere..... capeesh? Have a nice weekend.
{quote} It's GU Chart. Kindly Comment with my analysis about this pair. though the lower timeframe have been several bullish buying lows and it shows that monday opens might gap up again. >.< I will post my lower TF analysis later or tomorrow. Thanks Quidsey.{image}
- #139
- Sep 22, 2013 12:48pm Sep 22, 2013 12:48pm
Here are 3 trades on the EURJPY in a tight 50pip consolidation range.
Trade 1
i- At this point price has pulled back from the high, it's coming into a previous resistance swing point and we're expecting it to now become support, which (hey presto!) it does.
ii- As price starts to climb away from this level we can mark off the last swing before the low (blue line), this is our potential entry level but now we wait to watch price move higher. If price collapses through the level then we may consider a reverse trade short off the level. In this example price doesn't quite make a new high but it's certainly broken some smaller swing points and it's also created some space. Your own discretion is needed on wether you trade it or not.
iii- So here is the long trade. In my trading the SL is pretty much automatic, I then look to the recent price structure to get an idea of potential targets. Again I use S&R to suggest where price might go. Then some questions:
1. are you happy to take it even if it didn't engulf like it should?
2. have you got minimum 1R?
3. is there news?
4. are you around to take it manually or will you have to place an order?
At TP1 you've got a quick 1R trade, or hang on for TP2 better R but you might have to sit through a retest (this is where the breakevens do their arse), or hang it out again for TP3 and maybe a continuation of the overall trend higher, or maybe some variation of all that but whatever you do it's here that we win or lose. Plan your trade before and try to keep your decision making consistent. Make notes of your decision making.
Trade 2
i- so here we have another swing point that we can use to apply our strategy to. I mark up the high with a line then drag it back down or up until I find the previous swing. This again is discretionary.
ii- nice engulf, new lower low. This is a contrarian trade.
iii- so here's the entry but recent price action has created a minefield of trouble areas. This is maybe a pass depending on your own rules, but a short here is a pretty good bet as price hasn't made any new highs. There is the set-up of Trade 3 to aim for as a target maybe.
Trade 3
A large SL in relation to the FTA. Again it's whatever you're up for, conservative or aggressive.
All the best guys for next week.
Trade 1
i- At this point price has pulled back from the high, it's coming into a previous resistance swing point and we're expecting it to now become support, which (hey presto!) it does.
ii- As price starts to climb away from this level we can mark off the last swing before the low (blue line), this is our potential entry level but now we wait to watch price move higher. If price collapses through the level then we may consider a reverse trade short off the level. In this example price doesn't quite make a new high but it's certainly broken some smaller swing points and it's also created some space. Your own discretion is needed on wether you trade it or not.
iii- So here is the long trade. In my trading the SL is pretty much automatic, I then look to the recent price structure to get an idea of potential targets. Again I use S&R to suggest where price might go. Then some questions:
1. are you happy to take it even if it didn't engulf like it should?
2. have you got minimum 1R?
3. is there news?
4. are you around to take it manually or will you have to place an order?
At TP1 you've got a quick 1R trade, or hang on for TP2 better R but you might have to sit through a retest (this is where the breakevens do their arse), or hang it out again for TP3 and maybe a continuation of the overall trend higher, or maybe some variation of all that but whatever you do it's here that we win or lose. Plan your trade before and try to keep your decision making consistent. Make notes of your decision making.
Trade 2
i- so here we have another swing point that we can use to apply our strategy to. I mark up the high with a line then drag it back down or up until I find the previous swing. This again is discretionary.
ii- nice engulf, new lower low. This is a contrarian trade.
iii- so here's the entry but recent price action has created a minefield of trouble areas. This is maybe a pass depending on your own rules, but a short here is a pretty good bet as price hasn't made any new highs. There is the set-up of Trade 3 to aim for as a target maybe.
Trade 3
A large SL in relation to the FTA. Again it's whatever you're up for, conservative or aggressive.
All the best guys for next week.
