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Help Me Establish The GbpUsd After Dinner Club 40 replies

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The Club!

  • #13,521
  • Feb 20, 2014 6:20pm Feb 20, 2014 6:20pm
I'm short 5 separate trades (open on 2/16) based on three very common failures (shown inside the white circles) My 5 targets are marked 3 to 5 pips above the white dashed lines and of course my entries are marked in green.

1,2,3 & 5 targets are based on common intra-bar short divergence failures and the 4th target is based on the open of an impulse candle. The chart is a 1h and my stops are set equal-distance apart from the highest entry.

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Zane
  • #13,522
  • Feb 20, 2014 6:22pm Feb 20, 2014 6:22pm
Good Morning,
It's been a a deeper draw down than expected but my targets remain the same as my previous post for the exception of another short entry at 3758. When the last target is met at 3577, I will set that entry to B.E. and trail.
Entries are as follows.
Multi lots at various levels (see prior post with chart)

3758
3720
3702
3689
3666
targets are as follows.
3648
3620
3609
3577
Balance remain open target

Entries and targets are based on previous chart and post,
Good pips to all:

Zane
Zane
  • #13,523
  • Feb 20, 2014 6:30pm Feb 20, 2014 6:30pm
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Zane
  • #13,524
  • Feb 20, 2014 6:37pm Feb 20, 2014 6:37pm
Quoting zane gray
Good Morning, (at least where I live) I've read the thread for a long time and hope that I can contribute at a moderate level whenever possible. There are some very good traders on this site and at the present time...I'm not one of them. I trade only the eur/usd and my approach is 100% tech. My time frames are 15m and 1hr and my indi's are MACD with intra-bar divergence and two MA's...81 and 5. I do not trade these two in unison but rather as separate set-ups.
Hello Zane, welcome abroad..
enjoy the club..
  • #13,525
  • Feb 20, 2014 6:43pm Feb 20, 2014 6:43pm
Quoting andexQ
{quote} Hello Zane, welcome abroad.. enjoy the club..

Thank you
I hope I can shed some light on my trades as they come about.
Zane
  • #13,526
  • Edited 9:06pm Feb 20, 2014 7:44pm | Edited 9:06pm
Quoting zane gray
{quote} Thank you I hope I can shed some light on my trades as they come about.

HI friend. You're shorting above major support, in an uptrend, right?

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  • #13,527
  • Feb 20, 2014 10:55pm Feb 20, 2014 10:55pm
Quoting c3p0
{quote} HI friend. You're shorting above major support, in an uptrend, right? {image}
Yes I know. But the original entries were made as a test of the support as resistance on 2/13 with sound techs. leading to 1.3646, 25 and 06. since that time I've had to stack @ 3689, 1.3720 and 1.3758.

I now sit with a small DD and sound stops above 1.38

If this goes through 1.3850 then I will accept the rally and short heavy from there with the same targets.

My targets are not S/R lines but rather momentum failures that will become sound S/R points in the near future.

But yes you are correct, my short as it stands is above heavy support and my lots are small

Thanks for the overview.
Zane
Zane
  • #13,528
  • Feb 21, 2014 12:48am Feb 21, 2014 12:48am
Quoting andexQ
Hi, anyone notice Chinese Yuan ? Seem at last stage of its top-formation (in case of USD/CNH is bottom-formation). {image}
looks promising - unfortunately my two broker do not provide CNH
  • #13,529
  • Feb 21, 2014 12:50am Feb 21, 2014 12:50am
Quoting zane gray
Good Morning, (at least where I live) I've read the thread for a long time and hope that I can contribute at a moderate level whenever possible. There are some very good traders on this site and at the present time...I'm not one of them. I trade only the eur/usd and my approach is 100% tech. My time frames are 15m and 1hr and my indi's are MACD with intra-bar divergence and two MA's...81 and 5. I do not trade these two in unison but rather as separate set-ups. When I learn how to post charts I'll gladly provide a visual example of any and all trades...

welcome on board and enjoy the time


always green pips
  • #13,530
  • Feb 21, 2014 1:11am Feb 21, 2014 1:11am
Quoting zane gray
I'm short 5 separate trades (open on 2/16) based on three very common failures (shown inside the white circles) My 5 targets are marked 3 to 5 pips above the white dashed lines and of course my entries are marked in green. 1,2,3 & 5 targets are based on common intra-bar short divergence failures and the 4th target is based on the open of an impulse candle. The chart is a 1h and my stops are set equal-distance apart from the highest entry. {image}

Hi Zane Gray,

good morning. Looking at my volume profles the trade nr. 3 is in an area, where I would have been tempted to take the trades eventually, too. But I had chosen to take the first short trades around 3764, because there were two virgin POC's located (and due to my time schedule at the moment I do trade rather longer swings).

Trade Nr. 2 on your chart is debatable. The 3670 area was not a bad area at all to take such a short trade.

Trade Nr. 1, out of my sight, was poorly chosen, because it was at strong support. In this case, I would have preferred a trade, where price had retested this support from the lower side after breaking it.



Wish you good luck with your trades now. Have you everytime this wide SL's?
  • #13,531
  • Feb 21, 2014 1:27am Feb 21, 2014 1:27am
Quoting infinitus
{quote} looks promising - unfortunately my two broker do not provide CNH

Try CNY..
because some broker use CNH and others use CNY.. but basically are the same.

Anyway glad to see you again Infy.
  • #13,532
  • Feb 21, 2014 5:15am Feb 21, 2014 5:15am
Quoting infinitus
{quote} Hi Zane Gray, good morning. Looking at my volume profles the trade nr. 3 is in an area, where I would have been tempted to take the trades eventually, too. But I had chosen to take the first short trades around 3764, because there were two virgin POC's located (and due to my time schedule at the moment I do trade rather longer swings). Trade Nr. 2 on your chart is debatable. The 3670 area was not a bad area at all to take such a short trade. Trade Nr. 1, out of my sight, was poorly chosen, because it was at strong support. In this case,...
Hi Infy,
From the bottom up...no I usually don't prescribe to this large a stop, nor do I regularly apply stacking to my positions. So with that said I can look to exit at B.E. (1.3699) or sit it out and advance the bottom line at one of the 5 TP's.
I had to leave to computer for quite some time and when I saw the failures, I decided to trade back down to them. Stacking and a stop increase was one of my options...still well within 10%.

The first trade was taken from the rejection of the support/resistance but I didn't expect the rally to continue with such pace.

I'm looking at a minor short bias that will bring me to 1.3668 (see 1hr chart) so I my reduce equal lots and set the balance to BE.
Thanks and nice to hear from people who don't badger others like other threads.

Zane
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Attached Image
Zane
  • #13,533
  • Edited 6:04am Feb 21, 2014 5:42am | Edited 6:04am
Hi Everyone

Has anyone checked out XPD/USD lately? it has a nice pattern on the daily chart.... it's winding up like a spring! You can see from the chart that I have two short trades on it currently.
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  • #13,534
  • Feb 21, 2014 8:54am Feb 21, 2014 8:54am
Target still stays the same for me 1.38, but there is possibility of consolidation or attempts of selling in next 2 weeks, in any case my target is firmly 1.38 for now.
http://prntscr.com/2uhpxz

Meanwhile took 150 pips today, trades on GJ, EJ , EA, Gold, GCAD, GBPAUD, USDCAD. Maybe should have listed pairs where trades were not taken becouse list is smaller
  • #13,535
  • Feb 21, 2014 3:10pm Feb 21, 2014 3:10pm
Quoting andexQ
{quote} Try CNY.. because some broker use CNH and others use CNY.. but basically are the same. Anyway glad to see you again Infy.
Hi AndexQ,

was on vacation and when back was a bit overwhelmed by some disturbing factors LOL

Hope to contribute more again, but feel a bit of message board burn out


I looked for both symbols, but they do not offer them. Question is: how long can they ignore CHN?


Wish all of you a nice weekend
  • #13,536
  • Feb 21, 2014 3:13pm Feb 21, 2014 3:13pm
Quoting zane gray
{quote} Hi Infy, From the bottom up...no I usually don't prescribe to this large a stop, nor do I regularly apply stacking to my positions. So with that said I can look to exit at B.E. (1.3699) or sit it out and advance the bottom line at one of the 5 TP's. I had to leave to computer for quite some time and when I saw the failures, I decided to trade back down to them. Stacking and a stop increase was one of my options...still well within 10%. The first trade was taken from the rejection of the support/resistance but I didn't expect the rally to...

Hi Zane Gray,


I do my best to keep this as a badgering free zone

I think all of us do make every here and then some faults. Nothing to ponder.....


I too was surprised, that rally continued with high pace. I was delighted, that I had not taken some counter trend trades.


Hope all goes well with your trades now....
  • #13,537
  • Feb 21, 2014 3:14pm Feb 21, 2014 3:14pm
Quoting janpec1000
Target still stays the same for me 1.38, but there is possibility of consolidation or attempts of selling in next 2 weeks, in any case my target is firmly 1.38 for now. http://prntscr.com/2uhpxz Meanwhile took 150 pips today, trades on GJ, EJ , EA, Gold, GCAD, GBPAUD, USDCAD. Maybe should have listed pairs where trades were not taken becouse list is smaller

Ca-----shinggggggg
  • #13,538
  • Feb 21, 2014 3:17pm Feb 21, 2014 3:17pm
Quoting janpec1000
Target still stays the same for me 1.38, but there is possibility of consolidation or attempts of selling in next 2 weeks, in any case my target is firmly 1.38 for now. http://prntscr.com/2uhpxz Meanwhile took 150 pips today, trades on GJ, EJ , EA, Gold, GCAD, GBPAUD, USDCAD. Maybe should have listed pairs where trades were not taken becouse list is smaller

Todays silly move up has enhanced the chances greatly for the 1.38x tour. From an EW point of view, best would be now, that price drops now to at least the 3687 support shelf (wave C of ABC-flat), only to reverse there and take direction to the 1.38x
  • #13,539
  • Feb 21, 2014 3:18pm Feb 21, 2014 3:18pm
Quoting infinitus
{quote} Todays silly move up has enhanced the chances greatly for the 1.38x tour. From an EW point of view, best would be now, that price drops now to at least the 3687 support shelf (wave C of ABC-flat), only to reverse there and take direction to the 1.38x

The only way I can see great bearish potential, is, when price stays below of 3685. Then we can count the move down eventually as 1-2, 1-2 move
  • #13,540
  • Feb 21, 2014 3:55pm Feb 21, 2014 3:55pm
GBPCHF sell from 1,4760 and TP 1,46670 aand SL 1,4900 ..we will see next week
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