Seeking consistency

[Leia]

Re: usd aud 4 hour short

there is a lesson here, which I though I had learned, clearly not!

Stop 5 pips too small, @25pips I would be in the trade over twice the risk in profit with my stop at break even
just to rub some salt into this particular wound heres the chart

 

[Leia]

Nfp

I am looking for retracements on cable, & euro toward the level of their 4H 20ema's (1.55 / 1.31 respectively) and 5, 15 or 30 rejection candles (shooting star / bearish outside / bearish engulfing) to trade back down to existing levels....

 

[Leia]

Re: Fri 7 Jan eur jpy

My stop has now been hit for -10, the best possible result from this trade would have been +6 pips

The stop was literally hit by the spread, another 1pip would have kept me in
Following my usual rules (5m bar high below entry) I would have then been stopped out for break even, however the trade was sound
not that I was prepared to wait for nfp with an open position, but look what happened (red horizontal line is original stop, blue entry, green target red vertical is entry, then subsequent ones are where I would have been stopped out at break even
but the trade target was actually reached....

 

[Leia]

Re: Nfp

I am looking for retracements on cable, & euro

euro taken, but stopped out for breakeven, having been over 40 pips up

 

[Leia]

Re: Nfp


quick ozzie taken for 19 pips too

 

[Leia]

Re: Nfp

and euro, although order placed @ 1.30 00 didn't trigger (again by the spread), I took a 1.29 90 for 50pips perthe attached

 

[Leia]

eur gpb short, 4H trigger + set up

Daily and 4H trend is down
price has pulled back between 50% & 61.8% of previous down move and rejected (on 4H chart) higher prices

heres the chart with my obviously 4H hammer entry trigger
trade has opened, and is presently in a loss status

 

[Leia]

aus usd long

I spotted 4H hammer at a reasonable level, but didnt want to take that size of risk so have taken this 15m hammer candle for hopefully a quick 20+ pips (initial stop -20 target +50, however I will take less if it struggles as it is counter the higher timeframe trends

 

[Leia]

Re: aus usd long

I will take less if it struggles as it is counter the higher timeframe trends

Or I will take a loss if my stop is hit, as it was.
Serves me right, my short term trading strategy aims to get me in at about the swing lo / hi level and thus minimise my stop size)
This trade was more like going long at they Hi (OK I did see a point or twos profit),so clearly needed a larger stop, meaning it was a rubbish short term trade entry
It also isn't a London open trade either, so I deserve this hit after such a great Friday afternoon last week playing the nfp news release to my credit

 

[Leia]

Monday 17 Jan

My filter this morning has returned 10 of my 12 candidate pairs as ones to watch, clearly far too many to handle.
I have therefore reduced this to three, using my assessment of the ones with the largest potential moves
cable long from 1.58 45 (looking for 35 pips, 25 risk)
eur jpy long from 110.10 (looking for 60 pips, 10 risk)
gbp jpy long from 131.35 (looking for 50 pips, 45 rsik)

 

[Leia]

Re: Monday 17 Jan

cable long from 1.58 45 (looking for 35 pips, 25 risk)
eur jpy long from 110.10 (looking for 60 pips, 10 risk)
gbp jpy long from 131.35 (looking for 50 pips, 45 rsik)

I entered cable and gbp jpy, both moved into profit positions and I moved my stop to breakeven once a 5min candle had printed entirely above my entry level (ie low above entry for long trades)

My breakeven stops were then taken out so to breakevens today

 

[Leia]

Re: eur gpb short


I have moved my stop to breakeven, as the 4H moving average has crossed to the long side.
However the last 4H bar was an encouraging bearish shape and is just about entirely below my entry level

 

[Leia]

eur usd, 5m trend US open

I have applied my London open to the US session today (I know Mondays are often quiet)
The 5m trend has just crossed short, in alignment with the 1H trend
I am looking for a 100 pip move down, for a 20 pip risk entering at 1.32 90
The trade has opened, let see if this afternoon goes a bit better than my aussie on Friday

 

[Leia]

Tue Jan 18

My filter has returned 9 out of 12 potential pairs for this morning
I have removed two because I think they hae already completed their moves (usd chf short and usd cad short)
I have chosen 4 based on my perception of the best risk to reward of the remainder
cable long 1.59 00 (risk 30 target 50+)
usd jpy short 82.65 (risk 15 reward 30)
eur gbp short .83 65 (risk 20 reward 50)
gbp jpy long 131.45 (risk 20 reward 40)

 

[Leia]

Re: Tue Jan 18

cable long 1.59 00 (risk 30 target 50+)
usd jpy short 82.65 (risk 15 reward 30)
eur gbp short .83 65 (risk 20 reward 50)
gbp jpy long 131.45 (risk 20 reward 40)

There was very little in the way of pull backs this morning, a 'break out' trade was a better option for both cable and gbp jpy, my desired entry level was way off
However, I have taken a short position on eur gbp.
My 1H chart shows the trend as short and a 61.8% pull back of the previous swing high, to a 100% pull back (potential double top on that time frame) provides a good level for my stop
The 5m chart shows that my potential short entry area was taken out (green line), but price seemed to stall and so I took a short entry on the retrace. The position is currently fluctuating around break even. There is GBP news at 9:30, so I aim to be out (or at least be at breakeven) on this trade position by then

 

[Leia]

Re: Tue Jan 18

T
However, I have taken a short position on eur gbp.

Stop hit for -20
This is my first losing trade on my London open short term trading strategy.

 

[Leia]

Initial News releases of the week

9:30 GBP
10:00 EURO

I'm interested in rejections of Hi's & Lo's on cable and gbp jpy after the news:
Cable Hi's 1.59 70 to 1.60 00 (got to be a great short zone, round number like 1.60)
Lo's 1.59 20 to 1.59 00

g j Hi's 131.90 to 132.20
Lo's 131.50 to 131.30

watching for reactions to these zones and trade entry potential after 9:30

 

[Leia]

Re: Initial News releases of the week

9:30 GBP
watching for reactions to these zones and trade entry potential after 9:30

and the reaction was, take out the High's and keep on going!
No entry for me looking for euro crosses now

 

[Leia]

Re: Initial News releases of the week

looking for euro crosses now

eur usd Hi 1.34 55 1.35 05
Lo 1.33 20 1.32 45

eur jpy Hi 111.00
Lo 109.50

 

[Leia]

Re: Initial News releases of the week

eur jpy Hi 111.00
Lo 109.50

I thought I was ready for it this time, a break of the previous minor resistance with a convincing thrust looked like a repeat of the gbp move 30mins earlier, so I am in long eur jpy with a 20 pip stop (to prev 5m support) inthe hope it will follow gbp for 30 or 40 pips (to 111.00, or perhaps through?)