FX trading Nov12 - Nov16

[Mr.Black]

i am closing this one for + 15 pips profit...

 

[bbmac]

a weak 1min (my trigger) Reversal set-up at this 0727 area high, but cannot identify the resistance. 0737-50 seems the next most likely resistance area as 0700-0715 breaks to the upside, with that last but one 1hr potential SBR zone ahead mentioned above, that coincides with the only just about identifiable 4hr potential SBR zone in the down move since Friday.

For me, oscillator divergence/extrems with band deviation and price action confirm but lacking identifiable supp/res is like sitting on a 3 legged stool...it's quite firm but liable to the odd topple,..... a 4 legged chair is safer.

 

[bbmac]

and it could all have been so different, ie gone a bit pete tong...Nice Reversal set-up on trigger and intermediate+ at that 0737-50 resistance area played out, always best to wait for the confluence of all 4 factors than gamble on 3.

 

[Mr.Black]

I am short on EUR/USD....

 

[bbmac]

sorry here is the trigger and intermediate set-ups. With stochs extreme o/b to 1hr and breech of 1,5,15min fib tunnels and donchian channels too, it became a decent shorting opportunity...high in probability at identifiable potential resistance.


Bids now 0700/10 say mni, 23.6 of up move is around there too.
(1min Reversal Extreme with 5min Reversal Extreme (ii) confirm.)

 

[Mr.Black]

I am closing My short for +13 pips profit....

 

[bbmac]

Wd: Mr.Black

GN: 61.8% of this move would come in around 0721-25 area?? you putting an order in??

The trigger and intermediate [1 and 5min] set-ups were confirmed there by set-ups to 1hr. [15 and 30min Reversal A (ii) and 1hr Reentry type 2.]

 

[bbmac]

178 todays lo-hi pip range in cable, y/days 343, but today still above 5/10/20 day averages. Nice.

 

[bbmac]

nice example of time frames confirming each other, the 1min reversl and 5min reentry set-up in the last but one 5min/last 15min RBS zone of this up move,

Will it result in anew highj, No idea!! but you often get a retest of an area if only for a lower high/equal high if the up trend is over/on fpr a deeper pull back) so it remains a high probability set-up.

[1min Reversal B with 5min Reentry type 1.]

 

[graemenash]

Also in that GBPUSD setup above a perfect retrace to the 61.8 fib & bounce following the initial 1min signal. Didn't take it myself as the technical trend wasn't quite there as per the rules of my system but a good entry nontheless.

Still holding EURCHF short from 1.6439 but it's been milling around in a tiny range so far, currently +8.

 

[bbmac]

MR.Black...what time frames you working offf there with your trend indicator, and what is your trigger? Looks interesting, Thx.

 

[bbmac]

U.s Pending Home sales due at 1500pm gmt....forecast/previous = -2.0% / -6.5%

 

[bbmac]

So new highs reached by cable... finding some resistance at the 38.2% fib of the friday high to that 0522 lows base, 0766 area, just as Uk DEFRA confirms Bird Flu outbreak in the East Anglian region is the ' deadly ' H5N1 strain.

Nice trigger (1min) Reversal set-up at that resistance being the Reversal Extreme, also having an intermediate 5min Reversal A seq confirm.

I won't be around to post for the rest of this week.

Good trading all.

 

[2be]

U.s Pending Home sales due at 1500pm gmt....forecast/previous = -2.0% / -6.5%

With a negative pending home sale expected cable seems to glide gently up, and have created a daily trending channel. It migh continue like this for the rest of the London session. Looks like on the 1hr chart cable has confirmed its trading territory above EMA8 as the lower band and BB(2) as the upper band. Long positions are more likely to be profitable, the established daily trend is likely to continue.

 

[graemenash]

EURCHF finally breaks lower.... stop to b/e and limit to 1.6355.

I'm off out now because it's my birthday (!) so I won't be able to manage the rest of the trade properly, but at least the risk is now cut to zero.

 

[ampro]

... finding some resistance at the 38.2% fib of the friday high to that 0522 lows base, 0766 area...

Yes, as expected, that zone will likely to have a say in events this week. Continued upside will attract att'n 100 pips further on at 2.0870-90 (hourly), ahead of 2.0990.

Rejection of this dual s&r-38.2 zone sends it back to todays Tokyo low & into the late Sept/mid Oct range of 2.0270-2.0460.

I guess you shorter frame watchers will be eyeing today's sbr (2.0690) for a fast flip entry on confirmed lower top behaviour.

 

[Mr.Black]

MR.Black...what time frames you working offf there with your trend indicator, and what is your trigger? Looks interesting, Thx.

I am working whit 15 min 60 min , 240 min and Day... My trend indicator is made of hakin-ashi bars.. row data...no fancy pancy thing...For trigger I am using channel break out signal on 15 min

 

[Mr.Black]

This is one other trend indicator based on moving average... but whit this one you can see what is the trend in all time frames you interested in... and qualify pullbacks or disqualify them

 

[kenobi]

Hi, I dont understand why you short an inverted head and shoulders on your chart. At the very least, this is heading back to 2.0800.

well, that was an easy trade

 

[ampro]

well, that was an easy trade

Effortless to say the least. No reason to fully encash either on the overnight/early doors activity.

Yesterdays lower rbs zone can be hiked up 50 odd pips to the present axis level into early London trade.

The uptick stays honest above 2.0670 (last hourly swing low), so the (tentative) longs have a good view of proceedings for now.