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EUR USD short
My daily trend is down, the 4 hour recently changed to up
On the daily time-frame, price has retraced (in the last two candles) to over 61.8% of the recent down swing
Against the immediate bullish momentum in this pair, I have placed an order short at 1.30 70 with a large (-140pip) stop at 1.32 10, which is just above the recent spike high
My targets are R1 @ 1.29 30 and
R2 back at the recent lows @ 1.27 80
I am using the 4 hour inside bar (circled in yellow) as my trigger, which is roughly half way back into the preceding 4 hour candle with the long tail / wick indicating rejection of higher prices at this time
Although it only took two trading days to move up to present levels, it took 12 to move down, so this trade may run for two or three weeks (even if it does work out)
My daily trend is down, the 4 hour recently changed to up
On the daily time-frame, price has retraced (in the last two candles) to over 61.8% of the recent down swing
Against the immediate bullish momentum in this pair, I have placed an order short at 1.30 70 with a large (-140pip) stop at 1.32 10, which is just above the recent spike high
My targets are R1 @ 1.29 30 and
R2 back at the recent lows @ 1.27 80
I am using the 4 hour inside bar (circled in yellow) as my trigger, which is roughly half way back into the preceding 4 hour candle with the long tail / wick indicating rejection of higher prices at this time
Although it only took two trading days to move up to present levels, it took 12 to move down, so this trade may run for two or three weeks (even if it does work out)
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Re: usd jpy long trigger
New position taken
The daily time-frame and 4 hour indicators remains bearish. Counter to my indicators I remain bullish on this pair, based on the monthly and weekly time-frame charts
Price retraced to 98.20 last week, which was initially met with very strong buying interest, until the bearish sentiment was able to drive it back for a second test, or 'double bottom'
The 4-hour time-frame shows support (buying interest around 99.00) which I have used to place my stop on playing a break above the psychological 100 level. This is approximately 50% of the large 4 hour trigger candle (hammer) highlighted
Order to enter long @ 100.00, risk -120 pips to
stop @ 98.80
T1 = R1 = +120 pips @ 101.20
T2 = recent highs on daily time-frame @ 103.50 (+350 pips, R=3)
New position taken
The daily time-frame and 4 hour indicators remains bearish. Counter to my indicators I remain bullish on this pair, based on the monthly and weekly time-frame charts
Price retraced to 98.20 last week, which was initially met with very strong buying interest, until the bearish sentiment was able to drive it back for a second test, or 'double bottom'
The 4-hour time-frame shows support (buying interest around 99.00) which I have used to place my stop on playing a break above the psychological 100 level. This is approximately 50% of the large 4 hour trigger candle (hammer) highlighted
Order to enter long @ 100.00, risk -120 pips to
stop @ 98.80
T1 = R1 = +120 pips @ 101.20
T2 = recent highs on daily time-frame @ 103.50 (+350 pips, R=3)
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M
malaguti
you should keep a journal to record all your results, not just your positive ones. we learn more from our mistakes no?
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Cable short trigger
My daily indicator is flat and the 4 hour is long
However, on the longer term (weekly) time-frame, the descending resistance line from the end of 2012 appears to have stopped last weeks rally
I'm looking for a correction to my ascending support line of the daily chart, which is very close to both the 61.8% re-tracement of the last daily up-swing and the round number 1.52 00
The weekly and daily time-frames have been printing long up moves, interspersed with short downward 'corrections' and it is part of this 'correction' leg I am aiming to capture with this trade
Yesterday contained a 4hour (and indeed 1 hour) time-frame 'shooting star' type of candle, rejecting higher prices at this time, which I am using as my 'trigger'
Order short is at 1.54 30 with an 80pip stop @ 1.55 10
T1 is @ R2, or 160 pips at 1.52 70
T2 is @ my daily time frame ascending resistance line 1.52 30 (+200pips R=2.5)
My daily indicator is flat and the 4 hour is long
However, on the longer term (weekly) time-frame, the descending resistance line from the end of 2012 appears to have stopped last weeks rally
I'm looking for a correction to my ascending support line of the daily chart, which is very close to both the 61.8% re-tracement of the last daily up-swing and the round number 1.52 00
The weekly and daily time-frames have been printing long up moves, interspersed with short downward 'corrections' and it is part of this 'correction' leg I am aiming to capture with this trade
Yesterday contained a 4hour (and indeed 1 hour) time-frame 'shooting star' type of candle, rejecting higher prices at this time, which I am using as my 'trigger'
Order short is at 1.54 30 with an 80pip stop @ 1.55 10
T1 is @ R2, or 160 pips at 1.52 70
T2 is @ my daily time frame ascending resistance line 1.52 30 (+200pips R=2.5)
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cable long trigger (low R)
GBP USD has posted a with-trend (daily, counter trend 4 hourly) entry trigger signal on both the 4 hour and daily time-frame
I have not however set any order as the potential reward I see (to 1.57 00) is only 1.3 times the risk of the trigger bar (entry 1.55 40, stop 1.54 25 = -115 pips)
A 50% retrace of the bar would make it more attractive (-60pips for +220 = R3+), so I'll watch closely today for an entry opportunity around the 1.54 80 region
GBP USD has posted a with-trend (daily, counter trend 4 hourly) entry trigger signal on both the 4 hour and daily time-frame
I have not however set any order as the potential reward I see (to 1.57 00) is only 1.3 times the risk of the trigger bar (entry 1.55 40, stop 1.54 25 = -115 pips)
A 50% retrace of the bar would make it more attractive (-60pips for +220 = R3+), so I'll watch closely today for an entry opportunity around the 1.54 80 region
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GBP CAD long trigger
My daily trend is long (4 hour short)
The daily chart has generated a long trigger (hammer) at previous daily support
The 1.62 00 level has provided resistance for some years and may now hold as support? Thats the theory anyway
I have placed an order long at 1.62 70 with a stop at the round 1.62 00 (risk -70 pips)
T1 is the recent daily high at 1.64 20 (R2)
T2 is the high of the year at 1.63 00 (R3)
As always, if the orders are opened and price move in my direction to 1 R (+70pips) @ 1.63 40, I will move my stops to break-even
My daily trend is long (4 hour short)
The daily chart has generated a long trigger (hammer) at previous daily support
The 1.62 00 level has provided resistance for some years and may now hold as support? Thats the theory anyway
I have placed an order long at 1.62 70 with a stop at the round 1.62 00 (risk -70 pips)
T1 is the recent daily high at 1.64 20 (R2)
T2 is the high of the year at 1.63 00 (R3)
As always, if the orders are opened and price move in my direction to 1 R (+70pips) @ 1.63 40, I will move my stops to break-even
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Price has shot through R1 (+70pips - pale blue line) @ 1.63 40 without opening orders
Therefore I have removed my pending orders
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GBP CHF shoer (daily) trigger
The trend on the daily and 4 hour charts are long
However price is approaching a significant swing high / resistance area 1.48 20 and has printed a very clean 'trigger' candle (shooting star) on the daily chart
I have placed an order short at the break of this candles low, with a stop at the high, looking to move my stop to break even should my orders be opened and price move to 1 times my risk, and then take profits at 2 times risk and 5 times risk
Order 1.46 90, stop 1.47 85 (risk = -95pips)
T1 = 1.45 00 (+190 pips = R2)
T2 = 1.42 00 (+490 pips = R5)
stops to break even if orders opened & price moves down to 1R @ 1.46 05
orders removed if price moves to 1.46 05 before orders are triggered open
The trend on the daily and 4 hour charts are long
However price is approaching a significant swing high / resistance area 1.48 20 and has printed a very clean 'trigger' candle (shooting star) on the daily chart
I have placed an order short at the break of this candles low, with a stop at the high, looking to move my stop to break even should my orders be opened and price move to 1 times my risk, and then take profits at 2 times risk and 5 times risk
Order 1.46 90, stop 1.47 85 (risk = -95pips)
T1 = 1.45 00 (+190 pips = R2)
T2 = 1.42 00 (+490 pips = R5)
stops to break even if orders opened & price moves down to 1R @ 1.46 05
orders removed if price moves to 1.46 05 before orders are triggered open
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Price has posted to 0.83 40, which is +75 pips and 1 times my risk on this trade 1R
I have therefore moved my stop to break even
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Trade target achieved
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EUR USD long trigger
Daily indicators long, 4 hour short
Price has printed a long trigger (hammer style shape) candle on the 4 hour chart around a level of previous support zone on the daily chart as well as between the 50% & 61.8% fibonancci re-tracement level of the previous 'up' leg and bottom of the ascending channel on the weekly time-frame
I recognise that this signal is counter the recent very strong momentum (on the daily & weekly charts) as well as the last monthly candle that shows rejection of higher prices at this time, at the current years highs. However the risk reward is strong (around three times)
I have therefore placed an order long @ 1.35 00 with a 60 pip stop @ 1.34 40 and target just below the strong resistance of 1.37 00, presently representing the 2013 high
Daily indicators long, 4 hour short
Price has printed a long trigger (hammer style shape) candle on the 4 hour chart around a level of previous support zone on the daily chart as well as between the 50% & 61.8% fibonancci re-tracement level of the previous 'up' leg and bottom of the ascending channel on the weekly time-frame
I recognise that this signal is counter the recent very strong momentum (on the daily & weekly charts) as well as the last monthly candle that shows rejection of higher prices at this time, at the current years highs. However the risk reward is strong (around three times)
I have therefore placed an order long @ 1.35 00 with a 60 pip stop @ 1.34 40 and target just below the strong resistance of 1.37 00, presently representing the 2013 high
