My two main trades today
EURUSD
USDJPY
Comments are welcome
Demarko
EURUSD
USDJPY
Comments are welcome
Demarko
'Simplicity is the ultimate sophistication'
- #77,443
- Nov 12, 2014 12:35pm Nov 12, 2014 12:35pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #77,444
- Nov 12, 2014 12:40pm Nov 12, 2014 12:40pm
GU Setup for PRE LS:
GU has given up its earlier gains as Carney delivers the BoE inflation report & has broken through LS lows ~1.5800
I am looking for sell limit, still thinking it s in a bearish movement & keep going tomorrow.
My idea for Pre LS:
1. Sell limit @ 23,6 % fib
2. Double up @ 50 % fib
SL at 61,8 % / TP ~ 161,8 fib extension in the other direction of the picture,of course ( move SL to BE if PA reachs ~ 130% Fib )
- Any feedbacks are welcome -
GU has given up its earlier gains as Carney delivers the BoE inflation report & has broken through LS lows ~1.5800
I am looking for sell limit, still thinking it s in a bearish movement & keep going tomorrow.
My idea for Pre LS:
1. Sell limit @ 23,6 % fib
2. Double up @ 50 % fib
SL at 61,8 % / TP ~ 161,8 fib extension in the other direction of the picture,of course ( move SL to BE if PA reachs ~ 130% Fib )
- Any feedbacks are welcome -
- #77,445
- Nov 12, 2014 1:09pm Nov 12, 2014 1:09pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #77,447
- Nov 12, 2014 1:15pm Nov 12, 2014 1:15pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
- #77,448
- Nov 12, 2014 1:17pm Nov 12, 2014 1:17pm
{quote} What did u based ure entries on? Coz they not classic, nor scouts.
The second position having again bears bias in my mind i saw MMs pulling the price up to get better prices for short positions so i opened another trade
On the USDJPY trade i opened my positions based on the increased volume of the 2 lower wicks ( indication of bull building positions ) that i have in yellow circle
Demarko.
'Simplicity is the ultimate sophistication'
- #77,451
- Edited 3:16pm Nov 12, 2014 3:05pm | Edited 3:16pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
GBPCAD Short Trade Closed:
Closed for Profit of about 201.7 pips average/total. This was for 0.6 lots = $1,128.08
GBPAUD Short Trade Closed:
Closed for Profit of about 233.6 pips average/total. This was for 0.6 lots = $1,274.81
GBPJPY Short Trade Closed:
Closed for Profit of about 75.4 pips average/total. This was for 0.6 lots = $421.28
Closed for Profit of about 201.7 pips average/total. This was for 0.6 lots = $1,128.08
GBPAUD Short Trade Closed:
Closed for Profit of about 233.6 pips average/total. This was for 0.6 lots = $1,274.81
GBPJPY Short Trade Closed:
Closed for Profit of about 75.4 pips average/total. This was for 0.6 lots = $421.28
- #77,453
- Nov 12, 2014 4:39pm Nov 12, 2014 4:39pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
GBPCAD Short Trade Closed: Closed for Profit of about 201.7 pips average/total. This was for 0.6 lots = $1,128.08 {image} GBPAUD Short Trade Closed: Closed for Profit of about 233.6 pips average/total. This was for 0.6 lots = $1,274.81 {image} GBPJPY Short Trade Closed: Closed for Profit of about 75.4 pips average/total. This was for 0.6 lots = $421.28 {image}
Excellent trading and good examples for all of us Sonicers to learn from.
The Trade Levels indicator includes the option to show the actual $ involved.
-tah
- #77,457
- Nov 12, 2014 8:51pm Nov 12, 2014 8:51pm
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,552 Posts
Just closed a long classic trade for UJ +19 pips or so. I mostly got my entries nailed but I need some help in where to take profits. I tend to not "let profits run" but even if you "let profits run" how would you decide on where to take profits? For this trde I seem to have gone against the "no asian session" rule so I ran with the profits far earlier... {image}
From what I see you traded this well.
Yes, the run of AS setups is less reliable than in the LS, because the AS range is typically only 25-35 pips. As for where to decide to TP, you can use the Levels, pivots, historic consolidation areas, and looking for confluence of any combination of these to help establish a priority. In your case, the 3/4 Level and MR1 were in confluence. So, your choice to TP in that area is faultless. Historic PA is the source of all, of course, so always look back to see where your thought for a TP stands relative to historic S&R or consolidation areas. And keep the AS range, the Day range and the Week range in mind. We have the Day and Week range marks on our template, but not the AS marks. So, you just need to be aware of the uniqueness of the AS when trading it.
Very Nice Job, Sonicer!
-tah
- #77,458
- Nov 12, 2014 9:20pm Nov 12, 2014 9:20pm
- Joined Nov 2013 | Status: Trading Chaos | 1,133 Posts
- #77,459
- Edited 9:47pm Nov 12, 2014 9:33pm | Edited 9:47pm
{quote} tjinhean, From what I see you traded this well.
I'm traditionally an Indices trader, being more active on the Dax and the Nikkei for their respective sessions. Attached is the two trades on the Dax I took during yesterday's German open to German close. I face the same difficulty identifying regions to take profit.
For the first trade I entered at 9348 with a good down move before session open and the previous session hang Seng closing downwards, and the entry was initiated with the re-entry of the PA back inside the dragon, and a fake upmove inducing longs caught me too, so I cut my losses and went the other side. I then let this trade run its course of around 100 points, after which it retraced back into the dragon, where my trailing stops were triggered. There was a sour feeling as the trailing stop should not have been triggered since it presented a great opportunity for another adding on of a position, to ride on the second wave down.
My major doubt still holds, on whether pivot levels/ previous S&R still holds as valid areas for TP levels in other markets such as stock indices.
Many thanks,
tjinhean
