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Discovering An Edge

  • #121
  • Jun 24, 2015 8:40am Jun 24, 2015 8:40am
Quoting panamamike
I just took profits on both GC and UC ..... GC on high of day test and Ucad on 10 D ATR. Great minds......lol {quote}
Great trades! I have an ambitious target on UC of 12535 based on trendline breakout.
A pip is only worth it if you know how much you risked to earn it
  • #122
  • Jun 24, 2015 8:41am Jun 24, 2015 8:41am
an hourly close in GA above today's high will have me long and looking for a test of 2.05 which is just below 10 d ATR. the high of the day also happens to be the London open.
  • #123
  • Jun 24, 2015 8:46am Jun 24, 2015 8:46am
Quoting vlady1974
{quote} Great trades! I have an ambitious target on UC of 12535 based on trendline breakout.
It could very well bust up.....but yesterday High is just abive the 10 d ATR (1.23736) so I took my profits and happily returned to the sidelines
  • #124
  • Jun 24, 2015 8:49am Jun 24, 2015 8:49am
when a currency pair is not in an established strong trend nor has a fundamental news thrust, I respect the 10d ATR...sometimes leaves $ on the table, but it is uncanny how many times the pair respects that level.....especially on new highs or lows established at a session open.
The UCAD turned at the low today almost exactly at the 10d ATR (1.22766). Now it has touched the top of the 10 d atr.
  • #125
  • Jun 24, 2015 9:33am Jun 24, 2015 9:33am
well done on UCAD.....
  • #126
  • Jun 24, 2015 10:02am Jun 24, 2015 10:02am
L GA 2.0443. T 2.0490
  • #127
  • Jun 24, 2015 10:02am Jun 24, 2015 10:02am
GL the rest of the day guys..... Off to the beach
  • #128
  • Jun 24, 2015 10:52am Jun 24, 2015 10:52am
Quoting panamamike
GL the rest of the day guys..... Off to the beach
Enjoy the surf!! Jealous!

BTW... joined you on GA @ 2.0401
A pip is only worth it if you know how much you risked to earn it
  • #129
  • Jun 24, 2015 1:49pm Jun 24, 2015 1:49pm
Closed all USD related trades for +310
A pip is only worth it if you know how much you risked to earn it
  • #130
  • Jun 25, 2015 1:22am Jun 25, 2015 1:22am
Quoting vlady1974
Closed all USD related trades for +310
Hey mate check your eurusd 4hr chart. 100sma. We recently closed below 100sma. Look back at what that line has done in the past. It has determined the trend. In my opinion eurusd is now bearish. Any rally or attempt to stay above that line will be fraustrated by 100sma
  • #131
  • Jun 25, 2015 4:24am Jun 25, 2015 4:24am
today could be a big turn point for EJ. Currently the hourly just broke uptrend since mid April. A daily close below 138 could see much lower going forward. My system got me short at 138.38.....took half off at 138.05.... Trailing rest on hourly PSAR.
  • #132
  • Jun 25, 2015 4:28am Jun 25, 2015 4:28am
137.60 next target.... 10 d ATR low
  • #133
  • Jun 25, 2015 4:46am Jun 25, 2015 4:46am
Quoting panamamike
today could be a big turn point for EJ. Currently the hourly just broke uptrend since mid April. A daily close below 138 could see much lower going forward. My system got me short at 138.38.....took half off at 138.05.... Trailing rest on hourly PSAR.
Success is nothing more than a few simple disciplines, practiced every day.
  • #134
  • Jun 25, 2015 5:45am Jun 25, 2015 5:45am
Quoting panamamike
today could be a big turn point for EJ. Currently the hourly just broke uptrend since mid April. A daily close below 138 could see much lower going forward. My system got me short at 138.38.....took half off at 138.05.... Trailing rest on hourly PSAR.
Very busy morning, but I did see what you mean. I was avoiding EUR pairs after yesterday's drama. However, I saw the impulse move and the sharp retrace - which I think confirms the downside. ie. it wasn't a straight line down. In at 138.35
A pip is only worth it if you know how much you risked to earn it
  • #135
  • Jun 25, 2015 7:06am Jun 25, 2015 7:06am
best trading this past session was smacking the Swiss vs the commodity currencies after their central banker jawboning. Should have also hammered it vs the YEn, but already short EJ.

Next up....wait for the market to pick a direction for the session at the top of the next hour post US Eco numbers.
  • #136
  • Jun 25, 2015 7:27am Jun 25, 2015 7:27am
BTW,

If anyone's interested, here is my guide to select currency pairs to trade. It is the same CSM on a 5,15,60 and 240 minute time frames. It is a very good guide

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-06-25 07_23_27-CSM.png Size: 133 KB
  • #137
  • Jun 25, 2015 7:54am Jun 25, 2015 7:54am
L GU 1.5743
  • #138
  • Jun 25, 2015 8:37am Jun 25, 2015 8:37am
took half at +15...SL moved to +2.... Second target is 1.5790 just below 10 d ATR high and yesterday hod
  • #139
  • Jun 25, 2015 8:42am Jun 25, 2015 8:42am
GA triggered long at 2.0358 ..... Target 1 18 pips...target 2 2.0425
  • #140
  • Jun 25, 2015 8:44am Jun 25, 2015 8:44am
wow...that was fast.....T1 hit....stop to +3 looking for T2
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