GBPJPY {image} Shorting opportunity ??? Masterrmind............
Masterrmind...........
Master your Mind then Master your Trades
Ratios & Harmonics: a Different Way to Trade
- #13,521
- Apr 8, 2015 6:20pm Apr 8, 2015 6:20pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Masterrmind...........
- #13,522
- Apr 8, 2015 6:32pm Apr 8, 2015 6:32pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} EURUSD {image} Masterrmind.........
Masterrmind............
Master your Mind then Master your Trades
- #13,523
- Apr 8, 2015 6:50pm Apr 8, 2015 6:50pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #13,524
- Apr 8, 2015 7:10pm Apr 8, 2015 7:10pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPUSD [H1 chart]
General outlook...........
1. If price remains above the trendline I'll be looking at taking a long position (but need to focus on an M15 TF)
2. If price breaks out below the trend line then I'll be looking at price to test the DO line and major structure low (A point) with a good chance of testing the WS level.
Note: an aggressive C buy yields a possible 1:1 risk:reward!
Good trading to all,
Masterrmind............
General outlook...........
1. If price remains above the trendline I'll be looking at taking a long position (but need to focus on an M15 TF)
2. If price breaks out below the trend line then I'll be looking at price to test the DO line and major structure low (A point) with a good chance of testing the WS level.
Note: an aggressive C buy yields a possible 1:1 risk:reward!
Good trading to all,
Masterrmind............
Master your Mind then Master your Trades
- #13,525
- Apr 8, 2015 7:38pm Apr 8, 2015 7:38pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPJPY [H1 chart]
Generally a similar outlook to that of the cable at this stage but it is very early days......
Many obstacles along the path so watch the order flow, observe price action and look for suitable entries with good r:R..........
Ultimate strategy is to short the pair once price reaches my PRZ zone!
Will now look at M15 charts for possible entries for day trading..........
Masterrmind.............
Generally a similar outlook to that of the cable at this stage but it is very early days......
Many obstacles along the path so watch the order flow, observe price action and look for suitable entries with good r:R..........
Ultimate strategy is to short the pair once price reaches my PRZ zone!
Will now look at M15 charts for possible entries for day trading..........
Masterrmind.............
Master your Mind then Master your Trades
- #13,526
- Apr 8, 2015 8:23pm Apr 8, 2015 8:23pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
USDCAD [M15 chart]
Worth a look at for those with a reasonable risk tolerance (.......pssst.. short possibility)
Perhaps only for a few pips so it needs to be closely monitored.
I'm short U/CAD now just for a few pips depending on PA!
Masterrmind..........
Worth a look at for those with a reasonable risk tolerance (.......pssst.. short possibility)
Perhaps only for a few pips so it needs to be closely monitored.
I'm short U/CAD now just for a few pips depending on PA!
Masterrmind..........
Master your Mind then Master your Trades
- #13,527
- Apr 8, 2015 8:53pm Apr 8, 2015 8:53pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
USDCAD [M15 chart] {image} Worth a look at for those with a reasonable risk tolerance (.......pssst.. short possibility) Perhaps only for a few pips so it needs to be closely monitored. I'm short U/CAD now just for a few pips depending on PA! Masterrmind..........
they all add up at the end of the week...........
Masterrmind.............
Master your Mind then Master your Trades
- #13,528
- Apr 8, 2015 11:13pm Apr 8, 2015 11:13pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUS200 [M15 chart]................ (looking for a possible long entry)
One for those traders who trade Indices..........
This chart is worthy of attention with plenty of confluence and the coming together of multiple factors.
Note that I will not generally post Index setups unless the chart looks super promising!
Gone long with this one!
Masterrmind............
One for those traders who trade Indices..........
This chart is worthy of attention with plenty of confluence and the coming together of multiple factors.
Note that I will not generally post Index setups unless the chart looks super promising!
Gone long with this one!
Masterrmind............
Master your Mind then Master your Trades
- #13,529
- Apr 8, 2015 11:35pm Apr 8, 2015 11:35pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPJPY [H1 chart] {image} Generally a similar outlook to that of the cable at this stage but it is very early days...... Many obstacles along the path so watch the order flow, observe price action and look for suitable entries with good r:R.......... Ultimate strategy is to short the pair once price reaches my PRZ zone! Will now look at M15 charts for possible entries for day trading.......... Masterrmind.............
Price attempting to roll over........
Following the OF but have not entered into either pair at this stage.
Masterrmind............
Master your Mind then Master your Trades
- #13,530
- Apr 9, 2015 12:06am Apr 9, 2015 12:06am
- | Joined Aug 2013 | Status: Trader | 1,289 Posts
AUS200 [M15 chart]................ (looking for a possible long entry) One for those traders who trade Indices.......... {image} This chart is worthy of attention with plenty of confluence and the coming together of multiple factors. Note that I will not generally post Index setups unless the chart looks super promising! Gone long with this one! Masterrmind............
PA at M15 and H1 looks promising.
Cheers.
- #13,531
- Apr 9, 2015 12:28am Apr 9, 2015 12:28am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} I am on the same page with you. PA at M15 and H1 looks promising. Cheers.
When you start analyzing charts in this way it doesn't take too long before everything on your chart starts to make sense.
A bit like putting all the pieces of a jig-saw puzzle together....... even following PA dynamically across the chart still feels like solving a jig-saw puzzle to me!
When M15 and H1 or whatever TF you choose to use complement each other then your trading will start to make more sense and you will see and 'feel' opportunity!
Good trading to you,
Masterrmind............
Master your Mind then Master your Trades
- #13,533
- Apr 9, 2015 8:02am Apr 9, 2015 8:02am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Nice trading, Jamos
It's been pretty quiet on here again today
A couple of trades I'm in right now - I'll post some better explanations once they've finished but right now I'm keeping an eye on them both:
EU Short
GU Short
It's been pretty quiet on here again today
A couple of trades I'm in right now - I'll post some better explanations once they've finished but right now I'm keeping an eye on them both:
EU Short
GU Short
- #13,534
- Edited 9:00am Apr 9, 2015 8:45am | Edited 9:00am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Update: Out of them both.
EU short for +38 pips
Bulls decelerated into resistance, retested and failed. Entry was in line with longer term orderflow.
Exit was on price hesitation at Daily S1 and structure (0 fib).
The longer term orderflow seems to be breaking down, so the exit was taken as if this turns out to be a double bottom.
GU short: +46 pips
Significant increase in bearish orderflow (long term). Expectation: shallow pullback to 38 fib... hit the fib almost to the pip.
Also happened to coincide with the golden zone of the accelerated bearish swing.
Entry was a little early - price returned to retest the 38 fib.
After that, price moved swiftly and broke 1.48000 easily before getting caught up on Weekly and Daily S1.
1.48000 became resistance, but I wanted to see a strong push through those support levels. I didn't see it on the second test of Weekly S1 and so I exited.
Hindsight: price managed to push through and retest the lows. But targets exceeded so all is good
EU short for +38 pips
Bulls decelerated into resistance, retested and failed. Entry was in line with longer term orderflow.
Exit was on price hesitation at Daily S1 and structure (0 fib).
The longer term orderflow seems to be breaking down, so the exit was taken as if this turns out to be a double bottom.
GU short: +46 pips
Significant increase in bearish orderflow (long term). Expectation: shallow pullback to 38 fib... hit the fib almost to the pip.
Also happened to coincide with the golden zone of the accelerated bearish swing.
Entry was a little early - price returned to retest the 38 fib.
After that, price moved swiftly and broke 1.48000 easily before getting caught up on Weekly and Daily S1.
1.48000 became resistance, but I wanted to see a strong push through those support levels. I didn't see it on the second test of Weekly S1 and so I exited.
Hindsight: price managed to push through and retest the lows. But targets exceeded so all is good
- #13,536
- Apr 9, 2015 10:28am Apr 9, 2015 10:28am
I had a BE trade, then 2 losses totaling -30 pips then went for the same short on the cable.
Entry was the second rejection of the golden zone. I normally manage things quite close but it is a nice day and so I went to the park and set my SL above the structure in the golden zone and my TP just short of the 1:1 of the move, got back to a nice 95 pips making me +65 on the day.
Just look at those 1:1s on the cable today. I missed the first one this morning as was not at my laptop in time. Then lost a couple misjudging the next turn downwards (hence the 2 -15 pips mentioned above).
Still with that nice day I am still a little hit and miss at the moment. Just under BE on the week so far and a couple silly money management issues going on. Still learning and staying around the BE mark.
I seem to be better when my money invested in a single trade is a little less. I am also going to take my time with trades a little more and get better at waiting for the better setups.
I am starting work next week so going to try to get an hour trading in the morning before starting (about 7.30am-8.30am UK time) and then 1-2 hours in the evening. I feel I have come so far and need to keep this going. I have also been monitoring the markets at these times and think there are some good trade opportunities at this time so could work out well.
Entry was the second rejection of the golden zone. I normally manage things quite close but it is a nice day and so I went to the park and set my SL above the structure in the golden zone and my TP just short of the 1:1 of the move, got back to a nice 95 pips making me +65 on the day.
Just look at those 1:1s on the cable today. I missed the first one this morning as was not at my laptop in time. Then lost a couple misjudging the next turn downwards (hence the 2 -15 pips mentioned above).
Still with that nice day I am still a little hit and miss at the moment. Just under BE on the week so far and a couple silly money management issues going on. Still learning and staying around the BE mark.
I seem to be better when my money invested in a single trade is a little less. I am also going to take my time with trades a little more and get better at waiting for the better setups.
I am starting work next week so going to try to get an hour trading in the morning before starting (about 7.30am-8.30am UK time) and then 1-2 hours in the evening. I feel I have come so far and need to keep this going. I have also been monitoring the markets at these times and think there are some good trade opportunities at this time so could work out well.
- #13,538
- Edited 12:33pm Apr 9, 2015 10:37am | Edited 12:33pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Long GU... counter trend.
Chart to follow
______________
Short-lived, but posted because I'm looking for re-entry.
The entry was risky because the long term orderflow was definitely bearish, so any long would carry considerable risk.
Reasoning: increase in bullish strength (marked in yellow) followed by a drop in momentum on the next bearish swing (falling away from the white line).
Plus there were multiple confluent AB=CD patterns.
After entry, price immediately rejected being above 1.47500 (minor resistance).
Scratch trade.
But still looking for a good (better!) long opportunity here
Chart to follow
______________
Short-lived, but posted because I'm looking for re-entry.
The entry was risky because the long term orderflow was definitely bearish, so any long would carry considerable risk.
Reasoning: increase in bullish strength (marked in yellow) followed by a drop in momentum on the next bearish swing (falling away from the white line).
Plus there were multiple confluent AB=CD patterns.
After entry, price immediately rejected being above 1.47500 (minor resistance).
Scratch trade.
But still looking for a good (better!) long opportunity here
- #13,539
- Apr 9, 2015 12:49pm Apr 9, 2015 12:49pm
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} control and sl taking profits and closing {image}
it is a nice day and so I went to the park and set my SL above the structure in the golden zone and my TP just short of the 1:1 of the move, got back to a nice 95 pips making me +65 on the day.
I am starting work next week so going to try to get an hour trading in the morning before starting (about 7.30am-8.30am UK time) and then 1-2 hours in the evening. I feel I have come so far and need to keep this going. I have also been monitoring the markets at these times and think there are some good trade opportunities at this time so could work out well.
- #13,540
- Apr 9, 2015 8:11pm Apr 9, 2015 8:11pm
- | Joined Aug 2013 | Status: Trader | 1,289 Posts
{quote} Yes the idea is always to stack the factors in your favor and not to forget analyzing all of the reasons why you shouldn't be taking a TRADE! When you start analyzing charts in this way it doesn't take too long before everything on your chart starts to make sense. A bit like putting all the pieces of a jig-saw puzzle together....... even following PA dynamically across the chart still feels like solving a jig-saw puzzle to me! When M15 and H1 or whatever TF you choose to use complement each other then your trading will start to make more...
By the way AUS200 TP was hit
Good trade mate.
Cheers.