Some of my trades, forecasts

[4xpipcounter]

I already got lost, but someone asked something about the Tokyo session, with respect to a possible reversal.
Nothing usually gets established during Tokyo, because of the low volume that is traded during Tokyo. Look at volume as horsepower. That is what drives the price action. This is why we see some of the main move created during the London open and close, Tokyo close, and the 1st 4 hours of the NY session.
What will move prices during the Tokyo session is any news coming out of Japan, and that usually amounts to volatility, and not any directional path.
There are giveaway signs that, a lot of times, are established during Tokyo. As an example the DOWN has returned to the GBP/CAD. With Friday's low being taken out by the start of the week spike, and then two hours later, another low established. This means the bears are going to have their day in cable-loonie land.
Similarly, the EUR/CHF has the same situation. Watch out, though for 2 main levels on the EUR/CHF, as a correction is coming--the MS2 at 1.3163, and the WR1 at 1.3176. The MS2 is a little worn out, because it has already been hit a lot this month, so look for 1.3176 to be containment on the current drive UP.

 

[4xpipcounter]

Eur/chf

I just set a TP for 1.3176, which is the WR1. We should get a sizeable bounce off that level, and it will get me a better entry on the long. So for this position, hopefully, I'm right on the reversal, and it will net me +37 pips, and then I will get back in at circa 1.3070 for the longer term.

 

[4xpipcounter]

Eur/gbp & aud/jpy

I took the EUR/GBP out at .8191 for +21 pips. As I mentioned in my WR it is looking tight, and my even progress north.
The AUD/JPY looks really good, so I have an entry to go short at .7787.

 

[4xpipcounter]

Re: Eur/gbp & aud/jpy

It just about took off without me. I entered a short at 76.95, and canceled the entry order.

I took the EUR/GBP out at .8191 for +21 pips. As I mentioned in my WR it is looking tight, and my even progress north.
The AUD/JPY looks really good, so I have an entry to go short at .7787.

 

[DEC]

Re: Eurchf

The red line curving up on the 8/25 chart was a precursor to what happened on Friday. Also, the decomp and the CE adds a more holistic look to price action. You not only want an accurate day trade, but also have a good view, futuristically.

As follow up, here are the TRM charts from Friday for this pair, I noticed that someone was asking you what a CE chart is.

 

[4xpipcounter]

Re: Eurchf

I alluded to it as per a conversation we had on this thread after you posted the charts. The bottom of the CE was in conjunction with my WS2 from last week (the 1.2971 area), which is why I thought it was a viable reversal area.

As follow up, here are the TRM charts from Friday for this pair, I noticed that someone was asking you what a CE chart is.

 

[DEC]

Re: Eurchf

I alluded to it as per a conversation we had on this thread after you posted the charts. The bottom of the CE was in conjunction with my WS2 from last week (the 1.2971 area), which is why I thought it was a viable reversal area.

Yes, but it doesn't count, because on a 5-digit broker, you were actually 0.4 pips off.

 

[DEC]

Re: Eurchf

My thread is starting to go to the dogs--lol

I will get a picture of my adorable Fiona soon and post it on the avatar.

 

[4xpipcounter]

Re: Eurchf

Tucker, Fiona, and Romeo. How nice!

I will get a picture of my adorable Fiona soon and post it on the avatar.

 

[4xpipcounter]

Re: Eurchf

You can always fire me--lol.

Yes, but it doesn't count, because on a 5-digit broker, you were actually 0.4 pips off.

 

[DEC]

Re: Eurchf

You can always fire me--lol.

You are invaluable, nobody would do that.

 

[Metals trader]

Re: Eurchf

As follow up, here are the TRM charts from Friday for this pair, I noticed that someone was asking you what a CE chart is.

Good charts and analysis guys.

looks like lack of comments by BoJ about intervention has resumed the yen rally for now. think some of the JPY crosses you mentioned in your weekly report 4x hopefully willgive us some juicy entries this week.

 

[4xpipcounter]

Re: Eur/gbp & aud/jpy

I took the trade out at 76.04, for +91 pips. I mentioned in my WR that the "ideal" reversal would be circa 75.00. It does not mean it would get hit. As the pair inches closer to that point, I could consider an entry to go long.

It just about took off without me. I entered a short at 76.95, and canceled the entry order.

 

[4xpipcounter]

EUR/JPY trade

Went long at 107.71. As per my report, this is a key reversal area for the EUR/JPY, and one of the pairs in bold.
It is in red on the actual report and available to anyone upon request.
I've been working with a few people directly who are following my thread. The emphasis, of late, has been my WR, not for some sort of ego trip, but as per some personal conversations, stressing the importance of trading your own forecasts and charting abilities.

 

[4xpipcounter]

Yen's entries for the week

MT, I hope the bold pairs show up as such in this forum. They stand out on the actual report, because they are red.
Those would be considered my best choices.
OTOH, last week I called the AUD/CAD boring and said it would peak at .9495, and that is exactly where it peaked. Also said the excitement would begin on the downside at that point. Well, the week started and spiked south without me.
I already rode the AUD/JPY south for a nice gain. Now, I'm jumped on the EUR/JPY north.
The USD/JPY could hit my ideal short entry point around 107.50.
The charts Daniel posted are from TRM. It is the only paid service worth the price.

Good charts and analysis guys.

looks like lack of comments by BoJ about intervention has resumed the yen rally for now. think some of the JPY crosses you mentioned in your weekly report 4x hopefully willgive us some juicy entries this week.

 

[4xpipcounter]

GBP/CAD--hourly

Notice how the MR1 was acting as support, but now there is a comfortable move under it, then we have a retrace back to that level, but it is still acting as resistance.
Next stop is the MP at 1.6128.

 

[4xpipcounter]

Re: Eur/chf

I'll discuss a shortcoming of mine. Judging by comments in the PM's e-mails, and IM's, many people following this thread are learning a method to trade with. I don't know it all, but I sure wold like abet anyone's interest to that end. I'm also not going to pretend to be indestructible. All of us have faults, and when it comes to trading we better know how to address them. We are not only made excellent traders because we have such glowing and wonderful good points, but also by acknowledging where possible shortcomings are at and dealing with them.
First of all, the 3 M's are essential, or be prepared to fail, and they are the methodology, margin management, and mind management. There are other elements that really branch from the 3 M's, that also need to be addressed, one way or another.
That brings me to my shortcoming. I am bullheaded in many ways. I was determined that the price was going to hit my WR1 or I was going for the ride. Well, I went for the ride. It is at this point that having ice in your veins helps. It is also evident and helpful to have a backup plan (Story for another day.) in place. I do admit, it would have been better to take the trade out for a 30-pip loss, then enter where it is now, but that's not what I decided to do.
This is where I get e-mails (Not giving your names) and panic, "Oh my goodness!!! What is happening on the EUR/CHF!!! Were you wrong!?!?"
That's why I say, especially if you don't have the mental makeup, don't follow other people's trades, no matter how good you think they are. Also, when you enter a trade, you need to have a plan for exiting and a backup plan. That's why the one that sent me the e-mail is panicking, and why I am not.
I got news for you. Even though I do not think it will happen, the EUR/CHF could drop to 1.2786. Just a fact. Better have a plan in place if you are long.
Successful traders know these things, so I'm hoping maybe I got some new ones to thinking through my rambling.

I just set a TP for 1.3176, which is the WR1. We should get a sizeable bounce off that level, and it will get me a better entry on the long. So for this position, hopefully, I'm right on the reversal, and it will net me +37 pips, and then I will get back in at circa 1.3070 for the longer term.

 

[Denman]

Hello Paul et-al. Because I am a newbie to trading, I, like others reading this thread, AM following and placing your trades. And I must say I have really enjoyed the ride. And though, at the moment I am following you, I AM slowly learning and beginning to understand what you seasoned traders are talking about. I have promised my-self, in my advancing years, to not only learn it but to hopefully make a little income from it. Paul, you and others on this thread, have been truly remarkable and If some on here cant see that then IMO I wish they would bugger off! To ALL you great people out there keep up the good work, many sincere thanx, and kind regards.
David

 

[Denman]

PS, I, also, am STILL on the EUR/CHF, In for a penny etc

 

[4xpipcounter]

David, thank-you. It is my goal for this thread to be beneficial to everyone who comes by.
Feel free, if you have questions to fire away. Also, in learning, whatever you adopt to your method of trading, to ensure yourself that it is not based on what someone said, but based on a conviction that you see and know and thoroughly understand the full implementation of what you are doing. It's great to have respect for your peers, but when it comes to your personal trading that adaptive process has to be personal.
Here's an example. I use the stochastics as a momentum indicator. Most people use it as an OB / OS indicator. If you use it, then you have to be convinced of the usage for you in that personal way.

Hello Paul et-al. Because I am a newbie to trading, I, like others reading this thread, AM following and placing your trades. And I must say I have really enjoyed the ride. And though, at the moment I am following you, I AM slowly learning and beginning to understand what you seasoned traders are talking about. I have promised my-self, in my advancing years, to not only learn it but to hopefully make a little income from it. Paul, you and others on this thread, have been truly remarkable and If some on here cant see that then IMO I wish they would bugger off! To ALL you great people out there keep up the good work, many sincere thanx, and kind regards.
David