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Snow Dog

Higher Lows Lower Highs

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I've been working on something where I don't have to be as proactively involved since there's no way I'm staying up all night to trade the fx but I like the movement best in the European market hours into the early US hours -- so the 1 hour charts seem to be a good solution where the moves don't get too erratic and tend to set-up for me only once or so daily. Instead of faster charts like my other daytrading where I may have to contend with multiple trades in a few hours.

 

GBPUSD was good again last night for a 70+ pip move again to the long side.

 

MMS

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GU 15 min, showing that chart here but entry was from the next 1 min lh that followed the 15 min close.

 

Why this 15 min set up candle and not the others, well this one closed on the low of prev support with little/no lower wick. The 1 min lh that followed 15 min close, price stayed below the 50 level (another one of our favoured set ups) to confirm the sell even though at that stage the low of range hadn't been broken.

 

My target was originally the 85 level once 6015 area broken (yes the 15/85 trade) but when RN was giving some resistance Mrs V said out so we did.

1.gif.519883ea6130b5526d3c0393611f7d4e.gif

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Trading pre UK news 9.30 gmt was boring with no decent set ups. GU jumped up on the news but quickly struggled. A 1hr shooting star and 15 min shooting star was followed by a perfect lh, price fell below the 1 hr 8 lwma (gold ma) and another 2 lh's followed.

1.gif.850cb9cee5170938b3b3e4872dd3eb54.gif

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I personally went short on that on the break of 1.6000 but it hasn't followed through yet -- still holding short but it's on the wrong side of 1.6000 at the moment!

 

MMS

 

I hope you managed to hold in long enough.

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Yep, that one worked out nice for me - picked up just shy of 90 pips. Ironically that was a mistake -- my target was supposed to be about 45 pips but I screwed up -- and got way lucky as it hit the bigger target despite my mis-key. But, the key was holding on and it worked well.....

 

MMS

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1hr neg close then a doji, 1hr lower high in bigger pic. 15 min shooting star. 5 min the smaller bounce from 111.25 is clear suggesting that level would fail. 5 min lh, shooting star little/no lower wick.

 

We had 2 small loss of contacts in the trade so exited +20 at RN.

1.gif.c8c252cfa6481c3600e9f36276fd7820.gif

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Had a nice one today as well on EURJPY and EURUSD. Still trying to get one on the GBPUSD had it to short at xx39 it hit xx40 earlier then bounced so I guess I should be thankful but surprised it didn't follow through like the other 2.

 

Mmmh yes obviously sometimes gu does its own thing. I'm a little ticked off at missing 1.3300 eur bounce that was a key S/R area.

 

Won't be the first and certainly not the last trade I'll miss!!

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Yep, that one worked out nice for me - picked up just shy of 90 pips. Ironically that was a mistake -- my target was supposed to be about 45 pips but I screwed up -- and got way lucky as it hit the bigger target despite my mis-key. But, the key was holding on and it worked well.....

 

MMS

 

May all of your mistakes cause you to win twice as much as you intended!

 

Best Wishes,

 

Thales

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May all of your mistakes cause you to win twice as much as you intended!

 

Best Wishes,

 

Thales

 

Welcome here.

 

1hr pos close doji, reject of 85 level (15/85 trade down). 15 min positive close. 5 min hl, little no upper wick on entry candle.

 

Counter trend so out +20 (surprise, surprise). Obviously a realistic target is 5750 but what the heck.

1.gif.3ab2eeade4185231a63c1e5124e4c759.gif

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1hr positive close but large upper wick around Y's low. 15 min shooting star. 5 min lh little/no lower wick. Mrs V's its Freaky Fri I'm not playing with RN +20 bank indi went off. So out +20.

 

We are also going out in a little bit so 2 x +20 and we are pretty happy. No doubt at least we are going to 5685 and lower from there TWT.

2.gif.115140a65d5b36cb8447065ece989308.gif

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Price supported at Y's US late session highs around 5610. 15 min doji, 5 min hl with little/no upper wicks. Price struggled at Wed's high 5648, gave some chance but with UK news coming and our internet connection playing up happy to exit with +20.

1.gif.9de34d7c8bb1a4954ebc28a4132bfe22.gif

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1st post for a while.

 

1hr close pos as did 15 min. Nice 5 min hl. Target originally 5570 (we have that as our days open) but for this time of day we are happy with anything around 20, we got +24.

1.gif.0c2a83a047a259e795456040ca13d197.gif

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Nice job on the short -- I had one at 1.3308 to 1.3257. Counter trend so I had my doubts.

 

Then again have another short setting up for tonight so we'll see....

 

Nice, I also tried to get in at 3308 but got 'invalid price' so had to wait a little.

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Today my short was set at 1.3248 - never triggered -- unfortunately I didn't get anything back on the buy side though I did have a short on USDCHF which worked instead at 0.9628 though in general I find the EURUSD trades smoother and more predictably for me.

 

MMS

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Did not trade at all yesterday, had some things to do.

 

GU had nice lh's on gu from around 6am gmt. A little early for me this am.

 

Eur had a similar set up as au. Both struggled at identified R areas. We just happened to trade au. Counter trend so I'm happy to bank pips at target level 50% of y's range which provided S area during Asian trade.

4.gif.d83e8c26c20299445930943f0ec16bad.gif

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For various reasons Feb has been pretty quiet so far. Sold 6152.

 

I know Y closed a shooting star and this thing is prob going lower but we have hit 25 psych level target. On NFP day we are happy with that and are prob finished now until after that news is out.

 

1hr shooting star, 15 min neg close, 5 min lh little/no lower wick. 15 min also was an evening star pattern which is one I like.

 

I did miss the double top sell around 6160 with CII divergence on 5 min.

1.gif.8fa4891ff34c92c49621966e3856fffa.gif

3.gif.9fd337f47711d44044000fc7ae5185a5.gif

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I had what I thought was a nice short going post the employment report but it didn't quite stretch to my target -- it's still got a chance as you can see from the attached but it has bounced -- I need to hope it resumes that reaction move down.......

 

MMS

 

attachment.php?attachmentid=23646&stc=1&d=1296830557

eurusdshort.jpg.142c1e34effb72a4031b89e77324ab2b.jpg

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I had what I thought was a nice short going post the employment report but it didn't quite stretch to my target -- it's still got a chance as you can see from the attached but it has bounced -- I need to hope it resumes that reaction move down.......

 

MMS

 

attachment.php?attachmentid=23646&stc=1&d=1296830557

 

I don't mess with nfp at all. Whilst I think its going down I'm actually not fussed. I have + pips on nfp day and more than happy to leave that one alone.

 

This is a perfect break of 2 point in 1 2 3 lh. Just showing I didn't have charts up.

1.gif.7c254de33dc0cc8fb1894071ecd4138e.gif

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15 min hl doji, reject of days open, fib retrace of Fri's range combo at 6110.

 

5 min hl, the upper wick was about at limit of what I like, the 15 min doji clinched it though.

 

Out half at todays high, +23, we have gone through Fri's high so any pullback here 6180 and will be happy to close bal at +50-ish.

 

Bal out +49. Went out and missed further hl kicks up.

1.gif.6e4fb2e012b251615cac6f25d38b7cdf.gif

2.gif.d68ca78b52a7b906f5f8dcb736bd6829.gif

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