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MultiTimeFrame Trend Trading with Price Action

  • #81
  • Jan 6, 2015 4:06am Jan 6, 2015 4:06am
Quoting Eod
Hello stevepatt, i post here a little question and i very glad to read your analisys: if DRAGHI start the QE in europe, where we will go our EURO? this is my chart on tf M1..... {image}

Hi Eod;

I never make Market Predictions I only go where the Markets Lead me.
  • #82
  • Jan 7, 2015 2:37am Jan 7, 2015 2:37am
NZD/USD H4 Bearish Trade

I've taken a couple of Short Trades on this pair one partially successful and one at BE so it's time for another attempt.

The Market has been forming a Daily Bearish Wedge since October.

I hope the chart below explains clearly why I took the Trade.

I'm still in this Trade Post 80 but I've tightened my SL to -11 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 7th Jan 15 NZD:USD H4 Chart.png Size: 159 KB
  • #83
  • Jan 7, 2015 5:37am Jan 7, 2015 5:37am
Quoting stevepatt
{quote} Hi jazzclef; Still in AUD/JPY Trade but it's turning on me at the moment going to be crunch time later in the day. {image}

Here's an up date of the AUD/JPY Trade.

Yesterday we saw a Test of my entry point fortunately, for me, there was Bearish Momentum we are now seeing a Test of that H4 Bearish Momentum.

I've still got a 2:1 Risk Reward Ratio for this Trade.

The NZD/USD Trade Post 82 is now starting to make Bearish noises.
Attached Image (click to enlarge)
Click to Enlarge Name: 7th Jan 15 AUD:JPY H4 Chart.png Size: 124 KB
  • #84
  • Jan 7, 2015 8:54am Jan 7, 2015 8:54am
Quoting stevepatt
{quote} Here's an up date of the AUD/JPY Trade. Yesterday we saw a Test of my entry point fortunately, for me, there was Bearish Momentum we are now seeing a Test of that H4 Bearish Momentum. I've still got a 2:1 Risk Reward Ratio for this Trade. The NZD/USD Trade Post 82 is now starting to make Bearish noises. {image}
Happy New Year Stevepatt!
I had short on AUDJPY as well, I've closed yesterday +55 pips and took Long USDJPY because it pulled back up to the Support 117.94 and FIB 50%. I've opened 2nd trade yesterday short on AUDUSD after pullback.
BTW well done on EURJPY trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY.jpg Size: 279 KB
Click to Enlarge Name: AUD.jpg Size: 254 KB
  • #85
  • Jan 7, 2015 10:06am Jan 7, 2015 10:06am
Quoting Tronis
{quote} Happy New Year Stevepatt! I had short on AUDJPY as well, I've closed yesterday +55 pips and took Long USDJPY because it pulled back up to the Support 117.94 and FIB 50%. I've opened 2nd trade yesterday short on AUDUSD after pullback. BTW well done on EURJPY trade {image} {image}
Hi Tronis;

Nice Trading looks like you are doing well trading from H8 Charts.

I must admit it was looking at your charts that started me looking at Fibs again for correlation when taking Trades.
  • #86
  • Jan 7, 2015 10:22am Jan 7, 2015 10:22am
Quoting stevepatt
{quote} Hi Tronis; Nice Trading looks like you are doing well trading from H8 Charts. I must admit it was looking at your charts that started me looking at Fibs again for correlation when taking Trades.
Thanks Stevepatt, I don't trade only from 8H charts, I look all of them before making decision to open the trade. It just make less noise then 4H charts.
On AUDJPY I would cash in or SL move to BE. It didn’t make a new low today before started pullback, but it just my opinion.

Edit: I meant new low after 17/12/2014
  • #87
  • Jan 7, 2015 12:25pm Jan 7, 2015 12:25pm
Doubled up my position after the price touched FIB 50, SL moved to +2 pips. Will see what will happen
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY1.jpg Size: 256 KB
  • #88
  • Jan 7, 2015 11:13pm Jan 7, 2015 11:13pm
Quoting stevepatt
{quote} Here's an up date of the AUD/JPY Trade. Yesterday we saw a Test of my entry point fortunately, for me, there was Bearish Momentum we are now seeing a Test of that H4 Bearish Momentum. I've still got a 2:1 Risk Reward Ratio for this Trade. The NZD/USD Trade Post 82 is now starting to make Bearish noises. {image}
AUD/JPY D1 Trade

Taken out of this Trade whilst I was sleeping for +8.2 pips +0.07R.

I'm still in the NZD/USD D1 Trade, at the moment it's running at -32 pips.
Attached Image (click to enlarge)
Click to Enlarge Name: 8th Jan 15 AUD:JPY D1 Chart.png Size: 102 KB
  • #89
  • Jan 8, 2015 12:52am Jan 8, 2015 12:52am
Entered AUD/USD short near the .81 level... All indicators showed bearish momentum, however price action (Daily) was showing indecision with spinning tops followed by a doji candle. But most importantly...the 0.81 round number that has acted as strong support in the past...
Its not a lost trade however it is nerve wrecking and risky
Attached Image (click to enlarge)
Click to Enlarge Name: Image2.png Size: 76 KB
  • #90
  • Jan 8, 2015 12:59am Jan 8, 2015 12:59am
Quoting stevepatt
http://www.orderflowtrading.com/Lear...w/Mindset.aspx This is a good resource for exploring Market Flow something I'm still getting my head around. https://www.youtube.com/user/rickoswave1/videos This is a series of videos from Peter Brenan a guy who has paid his dues. Good to see so many people interested in learning the art of Trading.
So far a very nice read, thanks for posting this Steve!
  • #91
  • Jan 8, 2015 11:00pm Jan 8, 2015 11:00pm
Quoting stevepatt
NZD/USD H4 Bearish Trade I've taken a couple of Short Trades on this pair one partially successful and one at BE so it's time for another attempt. The Market has been forming a Daily Bearish Wedge since October. I hope the chart below explains clearly why I took the Trade. I'm still in this Trade Post 80 but I've tightened my SL to -11 pips. {image}

NZD/USD D1 Bearish Trade

Taken out of this Trade for (-60.2) pips (-1R).
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Jan 15 NZD:USD D1 Chart.png Size: 101 KB
  • #92
  • Jan 8, 2015 11:19pm Jan 8, 2015 11:19pm
Quoting stevepatt
{quote} AUD/JPY D1 Trade Taken out of this Trade whilst I was sleeping for +8.2 pips +0.07R. {image}
AUD/JPY D1 Trade from 4th Jan. 15

It's always a good idea to see what you can learn from your unsuccessful Trades.
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Jan 15 AUD:JPY D1 Chart.png Size: 149 KB
  • #93
  • Jan 9, 2015 4:50am Jan 9, 2015 4:50am
Quoting saruhn
Entered AUD/USD short near the .81 level... All indicators showed bearish momentum, however price action (Daily) was showing indecision with spinning tops followed by a doji candle. But most importantly...the 0.81 round number that has acted as strong support in the past... Its not a lost trade however it is nerve wrecking and risky {image}

Hi saruhn;

Take a look at this Post 77 it explains why I didn't want to enter Short after the Daily PB on 6th Jan.

The Weekly Swing Point from May/June 2010 is attracting a lot of Pending Buy Orders.

It might take a couple attempts, at this level, before all these Pending Buy Orders are absorbed and the market continues down.

On the other hand, of course, it could continue to head North and we could see a change in Trend bias.

Only the Market can decide this, we only go where the Market leads.

At the moment I'm looking for Bearish PA, on this pair, that will give me enough potential return before reaching this Weekly Swing Point.
Attached Image (click to enlarge)
Click to Enlarge Name: 9th Jan 15 AUD:USD D1 Chart.png Size: 105 KB
  • #94
  • Jan 12, 2015 3:47am Jan 12, 2015 3:47am
Quoting stevepatt
{quote} Hi saruhn; Take a look at this Post 77 it explains why I didn't want to enter Short after the Daily PB on 6th Jan. The Weekly Swing Point from May/June 2010 is attracting a lot of Pending Buy Orders. It might take a couple attempts, at this level, before all these Pending Buy Orders are absorbed and the market continues down. On the other hand, of course, it could continue to head North and we could see a change in Trend bias. Only the Market can decide this, we...
Gottcha, thanks!

Any thoughts on the EUR/JPY? Is there a bullish correction underway? price on the daily is playing around the 200 MA. Ive been short @ the 141.00 level and my tp was @ 140.00, and while I wasn't here it hit 140.013 and didn't take my tp )).

USD/CAD I entered long @ 1.18370

Thanks,
  • #95
  • Jan 12, 2015 11:50pm Jan 12, 2015 11:50pm
USD/JPY D1 Bearish

Taken a Short Trade on USD/JPY D1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 13th Jan 15 USD:JPY D1 Chart.png Size: 134 KB
Click to Enlarge Name: 13th Jan 15 New Highs and New Lows.png Size: 154 KB
  • #96
  • Jan 13, 2015 12:06am Jan 13, 2015 12:06am
Quoting saruhn
{quote} Gottcha, thanks! Any thoughts on the EUR/JPY? Is there a bullish correction underway? price on the daily is playing around the 200 MA. Ive been short @ the 141.00 level and my tp was @ 140.00, and while I wasn't here it hit 140.013 and didn't take my tp )). USD/CAD I entered long @ 1.18370 Thanks,

Hi saruhn;

I haven't seen a Pullback on EUR/JPY D1 to get a good entry.

Where you entering from a shorter TF at 141.00?
Attached Image (click to enlarge)
Click to Enlarge Name: 13th Jan 15 EUR:JPY D1 Chart.png Size: 113 KB
  • #97
  • Jan 13, 2015 1:34am Jan 13, 2015 1:34am
Quoting stevepatt
{quote} Hi saruhn; I haven't seen a Pullback on EUR/JPY D1 to get a good entry. Where you entering from a shorter TF at 141.00? {image}
Yeap, I basically entered the position watching the H1 TF. It was a very aggressive and risky entry point. Indicators where showing slightly bearish momentum on that TF, candles where at a neutral point, doji candles showing indecision so I was betting that the 141 lvl would turn into resistance. (If that makes sense )

Also on the daily TF the 200 MA was kind of acting as support which made this trade even more risky.

The higher TF's where showing obvious bearish movement it was just a matter of entry for me.

Im still holding the position. My SL is @ 141.95, not so sure about my TP tho, I was thinking about ~ 138.60? or is that too optimistic? im still working on my position exits...
Attached Image (click to enlarge)
Click to Enlarge Name: EURJPYH1.png Size: 70 KB
  • #98
  • Jan 13, 2015 3:02am Jan 13, 2015 3:02am
Quoting saruhn
{quote} Yeap, I basically entered the position watching the H1 TF. It was a very aggressive and risky entry point. Indicators where showing slightly bearish momentum on that TF, candles where at a neutral point, doji candles showing indecision so I was betting that the 141 lvl would turn into resistance. (If that makes sense ) Also on the daily TF the 200 MA was kind of acting as support which made this trade even more risky. The higher TF's where showing obvious bearish movement it was just a matter of entry for me. Im still holding the position....
Hi saruhn;

If I was in a Short Trade I'd be looking around the 138 RN for my TP.

Look for levels where there has been a lot of Bullish and Bearish activity.
Attached Image (click to enlarge)
Click to Enlarge Name: 13th jan 15 EUR:JPY D1 Chart.png Size: 115 KB
  • #99
  • Jan 13, 2015 3:39am Jan 13, 2015 3:39am
Quoting stevepatt
{quote} Hi saruhn; If I was in a Short Trade I'd be looking around the 138 RN for my TP. Look for levels where there has been a lot of Bullish and Bearish activity. {image}
what I was thinking, thanks a bunch.
  • #100
  • Jan 19, 2015 11:33pm Jan 19, 2015 11:33pm
AUD/USD D1 Short

GBP/USD D1 Short
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20th Jan 15 AUD:USD D1 Chart.png Size: 109 KB
Click to Enlarge Name: 20th Jan 15 GBP:USD D1 Chart.png Size: 119 KB
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