Support/Resistance & Trend Lines

hey mate, i trade in a similar way, using TL's, SR, price action.
I agree with the eur/usd long, could have the potential to go to 1.35
Cheers
 

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Hey selmer6, you're sup-res lines look pretty close to mine. Glad to see someone else picking similar numbers!

We're bumping into the 38.2 from the December to June swing. Probably gonna take CPI or GDP tomorrow to push through it. Breaking 1.31 today was useful but we might see a retrace to 1.30. In any case I try not to fight my strategy too much.

Happy trading!

hey mate, i trade in a similar way, using TL's, SR, price action.
I agree with the eur/usd long, could have the potential to go to 1.35
Cheers
 
Open Positions
Long GBP/USD half position from 1.5550, stop @ 1.5550
Short USD/JPY half position from 87.90, stop @ 87.90
Long EUR/USD from 1.3050, 75 pip stop currently 13034, half position limit @ 1.3125
Long EUR/USD from 1.3080, 60 pip stop currently 13049, half position limit @ 1.3140

Orders
EUR/USD
Sell @ 1.2915 (upward trendline, 01/07+22/07), 60 pip stop

USD/JPY
Buy @ 87.40, (downward trendline, 21/06+14/07+27/07) 40 pip stop
Sell @ 86.40, (redrawn short term resistance using 3 spikes under last 10 bars) 40 pip stop

GBP/USD
Nothing near.
 
Hey mate
Could you post some charts regarding $/yen so i can see your reasoning?
To me we are nearing the support level from Nov 09.
And yes, our S/R are close, mine are drawn from a weekly line chart.
Have you dropped down timeframes, i work off the daily, with an eye on the weekly and monthly for guidance.

All the best
 
Stopped on both EUR/USD positions.

I'll tighten my stop to 86.90 on USD/JPY short from 87.90.
 
Hey dude, here's the chart I traded USD/JPY on. I traded the short previously but a little tighter. I'm trading it again as the close lined up good enough for me!

I suspect USD/JPY doesn't have much further to tall but I'm hoping for an exhaustion spike.


Hey mate
Could you post some charts regarding $/yen so i can see your reasoning?
To me we are nearing the support level from Nov 09.
And yes, our S/R are close, mine are drawn from a weekly line chart.
Have you dropped down timeframes, i work off the daily, with an eye on the weekly and monthly for guidance.

All the best
 

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Hey dude, here's the chart I traded USD/JPY on. I traded the short previously but a little tighter. I'm trading it again as the close lined up good enough for me!

I suspect USD/JPY doesn't have much further to tall but I'm hoping for an exhaustion spike.

few banks say its still a sell.
 
Moving stop to BE on short from 86.40. GDP wasn't too bad, but not great.
 
Last edited:
July 2010

I doubt any trades will trigger now and stops are in place on the remaining two positions (GBP/USD and USD/JPY).

Rather than dump a list of trades that's unreadable here's a slighter better view of July's trading.
 

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Sunday Order - 01/08/2010

Open Positions
Long GBP/USD half position from 1.5550, stop @ 1.5575
Short USD/JPY half position from 87.90, stop @ 86.90

Orders
EUR/USD
Sell @ 1.3010 (upward trendline, 30/06+13/07+21/07), 60 pip stop

USD/JPY
Buy @ 87.60, (downward trendline, 21/06+14/07+27/07), 40 pip stop
Sell @ 87.90, (resistance line), 60 pip stop

GBP/USD
Sell @ 1.5750, (resistance line), 100 pip stop
 

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Short GBP/USD from 1.5750 open. 100 pip trailing stop to BE and limit @ 1R.
 
Moving stop to 1.5650 on cable long.

Note that I'll reverse the 1.5750 trade if stopped before 1R.
 
Moving stop to 1.5750 on long from 1.5550

Open Positions
Long GBP/USD half position from 1.5550, stop @ 1.5750
Long GBP/USD from 1.5850, trailing stop to BE @ 1.5808, half position limit @ 1.5950

Orders
EUR/USD
Sell @ 1.3030 (upward trendline, 30/06+13/07+21/07), 60 pip stop

USD/JPY
Buy @ 87.50, (downward trendline, 21/06+14/07+27/07), 40 pip stop
Sell @ 87.90, (resistance line), 60 pip stop

GBP/USD
Sell @ 1.5685, (sharp upward trendline, 22/07+30/07), 70 pip stop
 
Open Positions
Long GBP/USD half position from 1.5550, stop @ 1.5750
Long GBP/USD half position from 1.5850, stop @ 1.5850

Orders
EUR/USD
Sell @ 1.3080 (upward trendline, 30/06+13/07+21/07), 60 pip stop

USD/JPY
Buy @ 87.35, (downward trendline, 21/06+14/07+27/07), 40 pip stop
Sell @ 87.90, (resistance line), 60 pip stop

GBP/USD
Sell @ 1.5740, (sharp upward trendline, 22/07+30/07), 70 pip stop
 
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