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Price Action and Trading Discussion

  • #4,321
  • Feb 13, 2014 8:35am Feb 13, 2014 8:35am
Quoting jen101
{quote} No but short on eurjpy. BE hit earlier with euro news, just re-entered. Also short on nzdusd. Negative at the moment, but that was a great pin bar yesterday. So, what do you reckon? {image} {image}
Looks good, although if your stop is hit, it looks like it could immediately reverse and move back down

Still in this usdjpy long, widened the stop before usd news release.
  • #4,322
  • Feb 13, 2014 9:18am Feb 13, 2014 9:18am
Quoting GDR3k
{quote} Looks good, although if your stop is hit, it looks like it could immediately reverse and move back down Still in this usdjpy long, widened the stop before usd news release.
Going north . Eurjpy is neurotic. Re. nzdusd, pin bars like that are virtually dead certs - that has to come back down!!

Your usdjpy long - did you trade off the spike that happened on 7th Feb?
  • #4,323
  • Edited 10:25am Feb 13, 2014 9:56am | Edited 10:25am
Quoting jen101
{quote} Going north . Eurjpy is neurotic. Re. nzdusd, pin bars like that are virtually dead certs - that has to come back down!! Your usdjpy long - did you trade off the spike that happened on 7th Feb?
Nope I traded off a 1hour bearish spinner candle from the 6th feb @ the 101.83 area

usdjpy has been kicked up the arse

edit - closed usdjpy long for +31
  • #4,324
  • Feb 14, 2014 1:01am Feb 14, 2014 1:01am
GDR3k, here you go, a trade the way you do it

Edit, have BE.
Attached Image (click to enlarge)
Click to Enlarge Name: audusd.PNG Size: 66 KB
  • #4,325
  • Edited 3:54am Feb 14, 2014 3:34am | Edited 3:54am
Quoting jen101
GDR3k, here you go, a trade the way you do it Edit, have BE. {image}
I'd have had my stop loss just above that wick which is right after that green candle you sold from, with my target equal in pips, r:r of 1:1

edit - are you still in your nzdusd short?
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  • #4,326
  • Feb 14, 2014 5:19am Feb 14, 2014 5:19am
Quoting GDR3k
{quote} I'd have had my stop loss just above that wick which is right after that green candle you sold from, with my target equal in pips, r:r of 1:1 edit - are you still in your nzdusd short? {image}
BE hit.
nzdusd SL hit. Looks like it might be reversing now but I have vowed I would never move my stops...

Anyways, what do you reckon on this on the weekly? Big fat number and high going back to 2011??
Attached Image (click to enlarge)
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  • #4,327
  • Feb 14, 2014 5:31am Feb 14, 2014 5:31am
Quoting jen101
{quote}Anyways, what do you reckon on this on the weekly? Big fat number and high going back to 2011?? {image}
Looks good although I'd most likely go for 1:1 or 1:2 as I find the bigger moves are harder to get, I prefer to catch the temporary bounces away from an area and then close for a profit.
  • #4,328
  • Feb 14, 2014 5:44am Feb 14, 2014 5:44am
Just entered long on gbpaud @ 8515 with a 48 pip stop, ideal target is 8643 where I've got a sell order waiting.
Attached Image (click to enlarge)
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  • #4,329
  • Feb 14, 2014 6:05am Feb 14, 2014 6:05am
Quoting GDR3k
{quote} Looks good although I'd most likely go for 1:1 or 1:2 as I find the bigger moves are harder to get, I prefer to catch the temporary bounces away from an area and then close for a profit.
Yes that is optimistic. I was hoping to trail it and see how far it could go. I normally use 1:1. I have a theory that, regardless of strategy, your chances of hitting your target diminishes exponentially, not linearly, the further away it is. Less than 1:1 is not acceptable to me, so that is why I have been using 1:1. Adjusted let's not be greedy.
  • #4,330
  • Feb 14, 2014 6:47am Feb 14, 2014 6:47am
Quoting GDR3k
Just entered long on gbpaud @ 8515 with a 48 pip stop, ideal target is 8643 where I've got a sell order waiting. {image}

GDR your stop for this pair and trade is too tight IMHO.. considering especially its state of current volatility range.

nerveless I hope it takes off right away for you, i am still in it too.
Passion, Persist, Patience, Protect
  • #4,331
  • Edited 7:59am Feb 14, 2014 7:14am | Edited 7:59am
Quoting FXEmpire
{quote} GDR your stop for this pair and trade is too tight IMHO.. considering especially its state of current volatility range. nerveless I hope it takes off right away for you, i am still in it too.
I'd have liked a move away from 8500, just going to keep the position on and see what happens

http://thelanguagelab.ca/wp-content/...blog-27-21.jpg
  • #4,332
  • Feb 14, 2014 8:09am Feb 14, 2014 8:09am
Quoting jen101
{quote}I have a theory that, regardless of strategy, your chances of hitting your target diminishes exponentially
I also agree with that, personally I find it much easier and more profitable scalping certain areas instead of trying to go for the large swings and prefer to be in and out of the market as quickly as possible.
  • #4,333
  • Feb 14, 2014 12:11pm Feb 14, 2014 12:11pm
Quoting GDR3k
Just entered long on gbpaud @ 8515 with a 48 pip stop, ideal target is 8643 where I've got a sell order waiting. {image}
Out for +31, PA is very sluggish and I'm not holding any positions over the weekend, that's me done until Monday/Tuesday, have a good weekend
  • #4,334
  • Feb 14, 2014 10:14pm Feb 14, 2014 10:14pm
Quoting GDR3k
{quote} have a good weekend
I'll do that GDR3k, you have yourself a merry Saturday and happy new Sunday...
Howlin' at the Moon on the Roof
  • #4,335
  • Feb 17, 2014 2:48am Feb 17, 2014 2:48am
1st trade of the week to get thing going on usa holiday..
AUDCHF short.. I see bullishness weakness on this pair for the time being, let's see how it pans out.
Attached Image (click to enlarge)
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Passion, Persist, Patience, Protect
  • #4,336
  • Edited 7:16am Feb 17, 2014 6:18am | Edited 7:16am
EurUsd short.. lack of bearish strength ..possible short term gain, maybe a reversal.
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Passion, Persist, Patience, Protect
  • #4,337
  • Feb 17, 2014 6:21am Feb 17, 2014 6:21am
Looking at 1.48875 to get in long on gbpchf
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  • #4,338
  • Edited Feb 18, 2014 3:05am Feb 17, 2014 1:01pm | Edited Feb 18, 2014 3:05am
Quoting GDR3k
Looking at 1.48875 to get in long on gbpchf {image}
filled at 4893, target 4990

edit - out for +22
  • #4,339
  • Feb 18, 2014 4:46am Feb 18, 2014 4:46am
Here we go again, bouncing off a confluence level, with trend .
Attached Image (click to enlarge)
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  • #4,340
  • Feb 18, 2014 4:51am Feb 18, 2014 4:51am
Quoting jen101
Here we go again, bouncing off a confluence level, with trend . {image}
I had a buy order down at 8250 but cancelled it before the CPI release, silly me...
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