Wallstreet1928 Analysis & live calls on FTSE,DAX,S&P...aimed to help New traders

[lapalabra]

What I understood from the thread is that there should be a fairly tight range overnight, which is near to the highs/lows of the previous day, but not above. in USD/JPY it has rallied overnight in the Asian session, above the previous days highs, there was no range breakout from what I could see.

Did i miss something though?

Yes, you missed two key factors:

1) My disorganisation in mixing up the two threads Miki and PhilNewton you posted as I copied and pasted them onto the same printed document

2) My disorganisation in mixing up the two threads Miki and PhilNewton you posted as I copied and pasted them onto the same printed document

Now you take those two into account you can see I'm on to a winner

The break of the TL is fine, but yes Geo you're quite right the rally does not give this set up the right criteria according to PN, this is Miki's channel bo I'm trading, or a mish mash, or something (sigh)

 

[masnachu]

Oh yes. Flicking between those currencies mentioned.

Did you follow the posts from GEO about the 15M breakout strat? This is what I am trading this week.

http://www.trade2win.com/boards/for...55-phil-newtons-range-break-out-strategy.html

Previously, I have been trading on the first break of a TL, not the pullback.

So I am looking at that bottom TL on the 15M as an area for a pullback and on a descending candle to enter - as per trade on USDCHF (closed out b/e)

On USDCHF I believe I made a mistake - re: read the part about entering on the limits of daily ranges. I have done that, I am shorting close to a bottom.

Whats your thoughts USDJPY?

Yea I had a mooch around Phils site on saturday , some nice stuff on there , the pullback is just the "break retest" idea, it's a sound principle

did you read the "price action" basics on his site Price Action ? Its something I first learnt from a Larry williams book (Long term secrets....) a few years ago , again good basic principles for learning price strcture/action etc

Not loving the swissy in that area (large Consolidation on dailies , S/R zone on weekly)

JPY , couple of inside days on daily (so S/R set from those) , so I was just watching the breakouts on the 1hr and 15m

Only really bother with EurUsd and cable (sometimes).

 

[Geofract]

The break of the TL is fine, but yes Geo you're quite right the rally does not give this set up the right criteria according to PN, this is Miki's channel bo I'm trading, or a mish mash, or something (sigh)

Ah, that makes more sense if it's Miki's channel setup, sorry, just presumed it was PN setup... oopps.

Post that chart then!

 

[lapalabra]

Went short on CAD/JPY @ 8.580. Hope I didnt jump the gun by getting in too early especially with the way markets are rallying today.

Hoping the oil inventory numbers later on show a surplus in levels causing crude to drop.

£1 a point! *eek*

I was soooooooooo tempted...it hit the top of my trendline....but was looking for something closer to round number monster entry...

 

[lapalabra]

Ah, that makes more sense if it's Miki's channel setup, sorry, just presumed it was PN setup... oopps.

Post that chart then!

You presumed it was cos I said it - yeah its Mikis

 

[Geofract]

Did you read PN's thread Lapster?

I've joined his site for 6 months - there's some good info on there, and I like his strategies, they make sense to me so far.

 

[lapalabra]

Did you read PN's thread Lapster?

I've joined his site for 6 months - there's some good info on there, and I like his strategies, that make sense to me so far.

No I will look to join, email him today. His articles / videos made sense and there's detail and thought there.

Will post chart, but watching AUDGBP closely now...

 

[Geofract]

EUR/USD might be interesting for a counter trend trade if 14200 doesn't hold. Not that I will take it, but just though I would mention it for all you contrarians out there

Potential pin bar on 4 hr.

 

[lapalabra]

Not loving the swissy in that area (large Consolidation on dailies , S/R zone on weekly)

JPY , couple of inside days on daily (so S/R set from those) , so I was just watching the breakouts on the 1hr and 15m

Only really bother with EurUsd and cable (sometimes).

I make a triangle out on the daily with the usd swissy (though I'm not fond of tris) and the weakening USD giving some downside bias

 

[Geofract]

I guess this is what you're looking at Mr. Lapster - well the inverse I suppose - I only have GBPAUD, not AUDGBP.

 

[masnachu]

I make a triangle out on the daily with the usd swissy (though I'm not fond of tris) and the weakening USD giving some downside bias

I'm using a shallow channel on the daily , Last 2 swing lows (2nd & 24th June) , project parrallel to intervening swing H (8th), then subdivide. (although I'd best go and look at IG see what the hell they've got on their charts Edit : Just checked , yea happy with that on IG too)

 

[lapalabra]

I guess this is what you're looking at Mr. Lapster - well the inverse I suppose - I only have GBPAUD, not AUDGBP.

OK OK OK I promise I'm gonna work out the posting chart thing ok!!???

(sigh)

yes it is - so looking for a retest if there is a break out the channel and a 15M ascending bar (in your chart) after that retest

If I don't see it, move to higher TFs and wait for it (as per PN)

Update on USDCHF: Second retest, preparing to enter again on close of this descending bar, if it makes a lower low than last move down @ 10670.

 

[Geofract]

OK OK OK I promise I'm gonna work out the posting chart thing ok!!???

don't sweat it!

 

[dr.blix]

db - we're looking at the same thing, but its a 12point range with 2 point spread and a margin of error for entry of -/+2 let's say, suddenly you're looking @ around 8pts - range just too tight to make it worthwhile.

It's really obeying the tls though, so probability wise go ninja, but r/r is terrible.

you're right there lapster.

unfortunately i messed around in there...i opened positions that could have netted me a few points, but panicked on each position to take a few small losses (before they retraced and came good)...

lost - 10 pts in total.

i'm now short 4454, looking for 434, but i'll close on signs of strength.

 

[dr.blix]

btw lapster, i'm picking up hyped up vibes from your posts!

if you are actually hyped, maybe take a 10min break?!

apologies if you were just joking around, but, we must remain ever vigilant with the ongoing battles and skirmishes with our emotions.

 

[Manya1983]

Short EUR/USD. Quick scalp. Entry 1.240.

 

[lapalabra]

btw lapster, i'm picking up hyped up vibes from your posts!

if you are actually hyped, maybe take a 10min break?!

apologies if you were just joking around, but, we must remain ever vigilant with the ongoing battles and skirmishes with our emotions.

Ah hyped up vibes!? I'm actually quite calm today for once, cheers

 

[dr.blix]

ftse h&s?

 

[pentlow1]

you're right there lapster.

unfortunately i messed around in there...i opened positions that could have netted me a few points, but panicked on each position to take a few small losses (before they retraced and came good)...

lost - 10 pts in total.

i'm now short 4454, looking for 434, but i'll close on signs of strength.

DB are you seeing any signs of strength yet, or are you going to keep your short on? i am at a loss to know what to do at this time. Just kicking myself for closing out my long too early this morning, rather than sticking to my trade which i put on for all the right reasons, and took off for the wrong reasons, duh! I expect i will just sit it out until the US opens, and wait for my trade signals again. Appreciate your thoughts on this.

 

[Manya1983]

Closed EUR/USD for 5 points. Thats lunch sorted.

Now just gotta wait for the CAD/JPY to sort out the Ferrari. I need to let it move 20 more points before I'll put it to break even.