USDJPY - looking for long opportunities
Masterrmind............
Masterrmind............
Master your Mind then Master your Trades
Ratios & Harmonics: a Different Way to Trade
- #13,721
- May 7, 2015 2:00am May 7, 2015 2:00am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
- #13,722
- May 7, 2015 2:18am May 7, 2015 2:18am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUDUSD - Global outlook is certainly to short the aussie...... :nerd:
Looking for the right type of bearish intent to the downside to enter a possible 100 pip trade!
Will continue to monitor trading opportunities on this pair....... expectation is for price to fall sooner rather than later (we shall see)
Masterrmind............
Looking for the right type of bearish intent to the downside to enter a possible 100 pip trade!
Will continue to monitor trading opportunities on this pair....... expectation is for price to fall sooner rather than later (we shall see)
Masterrmind............
Master your Mind then Master your Trades
- #13,723
- May 7, 2015 2:22am May 7, 2015 2:22am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
USDJPY - looking for long opportunities {image} Masterrmind............
price hit the DO and then reversed with power......
no entry on this pair
Masterrmind..........
Master your Mind then Master your Trades
- #13,724
- May 7, 2015 2:37am May 7, 2015 2:37am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #13,725
- May 7, 2015 2:40am May 7, 2015 2:40am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
AUDUSD - Global outlook is certainly to short the aussie...... :nerd: {image} Looking for the right type of bearish intent to the downside to enter a possible 100 pip trade! Will continue to monitor trading opportunities on this pair....... expectation is for price to fall sooner rather than later (we shall see) Masterrmind............
Price pushing up steadily and headed towards the DO
This is what I like to see..... if price gets close enough I'll look at shorting down from there......
Masterrmind...........
Master your Mind then Master your Trades
- #13,726
- May 7, 2015 3:28am May 7, 2015 3:28am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} AUDUSD - update {image} Price pushing up steadily and headed towards the DO This is what I like to see..... if price gets close enough I'll look at shorting down from there...... Masterrmind...........
Now short the aussie.....lets go!
Will monitor it closely as it is a slightly aggressive entry and as per normal the obstacles on the chart will be watched closely........
Masterrmind...........
Master your Mind then Master your Trades
- #13,727
- May 7, 2015 7:40am May 7, 2015 7:40am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPUSD - update
Now long the cable about 17 pips at present........
NB: 2nd short entry on the aussie!
Masterrmind...........
Now long the cable about 17 pips at present........
NB: 2nd short entry on the aussie!
Masterrmind...........
Master your Mind then Master your Trades
- #13,728
- May 7, 2015 7:47am May 7, 2015 7:47am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
EURUSD - update {image} + closed out for +6 pips last night (my time) as I didn't want to let it run over night. + euro has not really moved alot and continues to trade within my PRZ range. + still looking for a shorting opportunity but that might have to wait until London Open Patience and observation time for me.......... Masterrmind...........
Result was........ you guessed it....
Any other traders take the EU short?
In advance and there for the taking....simple!
Good trading,
Masterrmind...........
Master your Mind then Master your Trades
- #13,729
- May 7, 2015 7:59am May 7, 2015 7:59am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPUSD - update {image} Now long the cable about 17 pips at present........ NB: 2nd short entry on the aussie! Masterrmind...........
Now sitting on +40 pips......
Masterrmind............
Master your Mind then Master your Trades
- #13,730
- May 7, 2015 8:13am May 7, 2015 8:13am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} UJ - update {image} price hit the DO and then reversed with power...... no entry on this pair Masterrmind..........
Original posting was @ Post #13723
Result.......was:
Depending on your entry strategy you might of had a bit of DD in that trade but end result as outlined in advance........ :nerd:
Any trader grab some pips ?
Many there for the taking you only need to time it right..... risk can never be totally avoided so position your trade correctly.
Greed will get you killed in this business...........
Good trading,
Masterrmind..........
Master your Mind then Master your Trades
- #13,731
- May 7, 2015 8:27am May 7, 2015 8:27am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPJPY ---- careful timing the short as the pattern is not quite complete and the bulls are still showing strength.
I have presented a pattern on the GJ before it has completed so as they say....anything can happen
BUT..........
hitting the 886 level is worthy of note....
good luck to any or all that brave the trade
Masterrmind..........
I have presented a pattern on the GJ before it has completed so as they say....anything can happen
BUT..........
hitting the 886 level is worthy of note....
good luck to any or all that brave the trade
Masterrmind..........
Master your Mind then Master your Trades
- #13,732
- May 7, 2015 8:41am May 7, 2015 8:41am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
GBPJPY ---- careful timing the short as the pattern is not quite complete and the bulls are still showing strength. {image} I have presented a pattern on the GJ before it has completed so as they say....anything can happen BUT.......... hitting the 886 level is worthy of note.... good luck to any or all that brave the trade Masterrmind..........
Aggressive short entry
Reduced position size
Generous SL
TP @ about 100 pips
Masterrmind...........
Master your Mind then Master your Trades
- #13,733
- May 7, 2015 8:44am May 7, 2015 8:44am
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} GJ update Aggressive short entry Reduced position size Generous SL TP @ about 100 pips Masterrmind...........
Hope those following took advantage of the setups as they are real!
Until tomorrow........
Good trading to All,
Masterrmind............
Master your Mind then Master your Trades
- #13,734
- May 7, 2015 6:01pm May 7, 2015 6:01pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
Master your Mind then Master your Trades
- #13,735
- May 7, 2015 6:07pm May 7, 2015 6:07pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} AUDUSD - update {image} Now short the aussie.....lets go! Will monitor it closely as it is a slightly aggressive entry and as per normal the obstacles on the chart will be watched closely........ Masterrmind...........
Heading down as per expectations but will it hit the lower level?....... time will tell........
Masterrmind..........
Master your Mind then Master your Trades
- #13,736
- May 7, 2015 6:15pm May 7, 2015 6:15pm
- | Joined Aug 2013 | Status: Trader | 1,289 Posts
{quote} AUDUSD - update {image} Heading down as per expectations but will it hit the lower level?....... time will tell........ Masterrmind..........
AU
I have similar TP as yours.
Just curious, are you trading breakout too?
- #13,737
- May 7, 2015 11:13pm May 7, 2015 11:13pm
- Joined Jun 2013 | Status: Master chaos and you master trading | 11,287 Posts
{quote} Hi, AU I have similar TP as yours. Just curious, are you trading breakout too?
I'm what you would call a dynamic trader.
A dynamic trader uses multiple trading techniques to analyse, enter, monitor and exit their trades. I might set SL and TP levels but based on how OF and PA behaves it might mean an earlier than expected exit out of the trade and then a possible re-entry under more favorable trading conditions.
In other words I'm always following:
*price action;
*order flow (short and long term) ..... this does not mean that I always take trades in the same direction as OF as I clearly do not but it is arguably safer if you do;
*minor + major trading levels;
* S+R levels
*Pivots (daily, weekly and monthly).... you will not see daily pivots on my chart because I know where they are and I want to limit as much as possible any form of line or indicator on my charts (I try to maintain as few as possible on my charts)..... in short that means "the cleaner the chart the better"..... However informative indicators can be quite useful provided they are applied as they were intended and never ever used as a sole reason to enter a trade (never do this!);
*Harmonics;
*Patterns;
*Fundamental awareness (always important but more important on the longer term trades);
* Fibonacci ratios (more so the zones of confluence at say pivots and 00 levels... psychological levels etc);
* Trendlines (basic lines and very simple to apply but highly useful);
*Session patterns (eg Frankfurt, London, NY.... what is price expected to do in any of these sessions based on previous sessions.....powerful!)
* several other techniques as needed and as they apply to a particular chart.
The breakouts are traded of course but the bottom line in my trading is to simply get as many factors in my favor before I take a trade such that the probability (in my opinion) is as high as possible.
You might have noticed that some trades I take are a little riskier than others but usually these trades are opened after a great trading session and the position sizing has been dramatically reduced.
That is to say..... higher risk = NO trade or if you trade it drop your risk by 1/2 or 1/3 or 1/4 or 1/5 as per your own assessment.
I've probably rambled on much more than what you wanted but you did ask me how I trade albeit in respect to breakouts which I do trade because I'm always looking for the momentum of price to choose a direction and then I want to jump on board for the ride.
I could talk about trading until infinity but I'll leave it at that for now........... :nerd:
Good trading and all the best to you,
Masterrmind............
Master your Mind then Master your Trades
- #13,738
- May 8, 2015 1:21am May 8, 2015 1:21am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
A short entry on the GBPUSD for today.
Reasons for entry:
Momentum drop in bulls, double top formed right inside the golden zone with a major round number backing up the 78 fib.
Where it is now:
Currently stalling out at the 38 fib retracement. I expect congestion and/or a pullback from here. Hopefully not too much to knock me out at BE.
What is coming up next:
Structure at the 50 fib and 61 fib. These will be assessed at the time for hold or close.
Risks: general election results still coming in, although the outcome is pretty much understood now.
Nevertheless, SL moved to BE very early on... for those who don't trade the GU, there was a 200 pip move last night when the polling stations shut!
Reasons for entry:
Momentum drop in bulls, double top formed right inside the golden zone with a major round number backing up the 78 fib.
Where it is now:
Currently stalling out at the 38 fib retracement. I expect congestion and/or a pullback from here. Hopefully not too much to knock me out at BE.
What is coming up next:
Structure at the 50 fib and 61 fib. These will be assessed at the time for hold or close.
Risks: general election results still coming in, although the outcome is pretty much understood now.
Nevertheless, SL moved to BE very early on... for those who don't trade the GU, there was a 200 pip move last night when the polling stations shut!
- #13,739
- May 8, 2015 1:49am May 8, 2015 1:49am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
What is coming up next: Structure at the 50 fib and 61 fib. These will be assessed at the time for hold or close.
Predictably, more of a reaction at 61 fib and structure. This is the golden zone for any potential reversal.
Decision process: hold for now on the basis of the recent increase in bearish strength. However, a return above the 38 fib will be cause for concern.
- #13,740
- May 8, 2015 2:22am May 8, 2015 2:22am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Decision process: hold for now on the basis of the recent increase in bearish strength. However, a return above the 38 fib will be cause for concern.
But what a fantastic example of the importance of the golden zones.
Time to get out of this trade soon I think, if daily target is hit.
