FX trading Nov19 - Nov23

[bbmac]

Cable finds better entry short in that 5/15min SBR zone at the 50% fib of the move that coincided with a former higher swing low on way up, at 0601bid entry. The 5min Reentry type 1 turns into a type 2 with a 1min trigger Reversal A (ii).

This was the reason I was excercising caution on any re-entry short, the long set-ups down at todays lows were confirmed by a 1hr reentry type 1 and a 30min Reversal Extreme with 60bol perfect X...see screenshot. Ie there were reversal set-ups to 30min and a 1hr reentry set-up at those lows/support cluster.

 

[bbmac]

Nice analysis ampro..thx.

Here are those set-ups discussed above:

1min Reversal A(ii) with 5min Reentry type 2.

 

[graemenash]

Stopped out of AUDUSD -12, first loss of the week.

Took this trade on EURJPY, which was all over in 9 minutes!

Short 160.67, exit half at 160.50 offered, exit other half b/e.

There was a similar setup on USDJPY at the time too, but in between trading EURJPY, monitoring a possible EURUSD long entry and talking to the missus on the phone (!) there wasn't much chance... I need some employees

 

[ampro]

The Dragons beginning to sweat

Keep your hand on your hat & watch out below!

 

[FXSCALPER2]

Hey bbmac,

What do you think about shorting GBPUSD at the figure?

 

[bbmac]

Hi FXSCALPER2, what figure did you mean?

That 50% fib of the intraday 0698-0525 move coupled with that previous higher swing lo on way up, provides resistance again at that 0608-11 area. This time it's 1min regular sequential divergence, 5min regular immediate divergence and 15min hidden/reverse divergence set-ups.

the 15min screenshot is attached.

 

[Mr.Black]

I am closing my short for - 52 pips loss....

 

[ampro]

The Dragons beginning to sweat

Keep your hand on your hat & watch out below!

Thank you B & RT for your mails.

Yes, the subtle mob handed presence on the mic from the BoJ head honcho’s is often sufficient to spook the market. As it will be when the Eurozone officials wind themselves up.

However, currently there are differing agenda’s at work out there across the pairs & we live in very interesting (financial) times, even from a year back.

As ever, those who possess a tight game plan(s) & continue to respect the god that is RISK will stay relatively dry & safe.

Whether we ply our (technical) trade via the short, mid-long term timeframes, or a combination of both, and whether or not we include a decent dollop or two of the funnymentals in our daily diet, the psychology will continue to shine a light.

Nothing like a real good ‘spook show’ to expose one or two weak links. And as prices begin flirting with all time highs/lows & threatening raw nerve levels, those tight strategies will be well placed to avail themselves of the heightened psychology!

Trade safe

 

[graemenash]

Long GBPUSD 2.0633, stop 2.0615. half my normal volume as I have a feeling the FX markets may be a little funny over the next couple of days.

Still holding Tuesday's USDCHF short from 1.1095 btw; waiting for touch of 1.0996 so I can move stop in on the remaining half to 1.1044

EDITS
-------
1219 Price breaks start point of retrace; stop to b/e.

 

[bbmac]

G/l with those trades graeme, nice hold on chf.

Cable still in the overnight/asian range all London/European sesssion so far 0615-0684.
Thanksgiving today, and likely long w/e for many stateside, so liquidity may suffer.

Only set-up I've acted on today was this, shown is the 5min Reentry set-up confirm in what then was a very marginal Equal Low/Lower High potential SBR zone on the 5min (intermediate) chart, 0652-0671. (as opposed to a decent Lower lo and Lower hi SBR zone.)

The second circled (lime green) was where the 1min trigger set-up as a Reversal type C, as the 5min confirm turned into a Reentry type 2 from a type 1.

(5min Reentry type 1)

 

[bbmac]

gbpusd daily

the screenshot is the Gbpusd Dly chart shwoing the upward support trendline (solid red) from 17th/08 ...so far no tests. The dotted yellow upward support trendline from 18th/09 held twice when tested... (last 2 green circles) once as support then from below follosing a breech, as resistance. Since then it has been breeched by the suceeding Daily candles, so is probably no longer valid. The new upward support trend line would have to be the red dotted shown, no tests so far, with the one from 17th/08 too still intact just below, no tests yet.

Just an opinion.

 

[bbmac]

The screenshot is the Weekly chart in gbpusd that shows the upward sloping channel that has developed since mid 2006. You will see tat it has been tested at it's upper and lower extremes, the lower extreme of the channel holding twice and the upper extreme certainly once, arguably twice.

 

[hornblower]

The screenshot is the Weekly chart in gbpusd that shows the upward sloping channel that has developed since mid 2006. You will see tat it has been tested at it's upper and lower extremes, the lower extreme of the channel holding twice and the upper extreme certainly once, arguably twice.

Hi bbmac
thanks for all your imput on this thread,
I am not trading this week because of the us holidays

its been difficalt to make money the last few weeks , so I have been having at bit of time off ,to do other things

we have lost a lot of good traders from this thread
have you had an email asking you to join an elite group yet ?
I think you will as you seem to be on the ball so to speak
regards
hornblower

 

[Mr.Black]

I am long on GBP/USD

 

[graemenash]

Stopped out of GBP/USD breakeven.

 

[Mr.Black]

stoped out - 17 pips loss

 

[Mr.Black]

My project for next trading week will be timing market turns using 3 currency pairs EUR/USD , EUR/GBP and GBP/USD .... EUR/GBP will be my trigger signal and tool to make conclusions wich is stronger or weaker EUR or GBP or USD... this is a chart whit some entry signals... I am using 1 hr time frame

 

[Mr.Black]

and this is my first trade using this method... I am long on GBP/USD and short on EUR/USD...

 

[Mr.Black]

not bad .... closed EUR/USD trade for - 6 pips loss and GBP/USD for + 18 pips profit ...net +12 pips profit.... next time I have idea how to choose only one pair to trade...

 

[shadowninja]

Boys in Tokyo are busy. Sent those ducks to peck 55 pips into the bag. :cheesy:

Damn. I'm tired. Will sleep well.