18 March 2010

Not posted for a day or two due to being rather busy elsewhere.

GBP/CHF just catching my eye as it has a nice range on the 1Hr time frame with resistance being at yesterdays high. Price on the 4hr (top left) making high highs and higher lows and price right at the top of the range so a breakout to the upside could put me in long. Entry will be on the lower time frame in the usual way above the breakout high and the stop will be after the pullback low.

AUD/USD

A pair that I don't usually trade but that someone brought up on one of the forums and I have been watching it since. Great example of resistance turning into support on the 4HR (top left) range can be seen on the 15Min and the 1Hr, my bias is bullish so only looking to buy a break to the upside so no short breakout.

                                     

 

 13:42

Very dull London session for me with not much moving so not much to really report, US markets open and still not a huge amount of life. Looking like it could be a slowww day....

16 March 2010

Going to have to keep it short and sweet today :)


Eur/Jpy



I had EJ range bound but making higher highs and higher lows within that range on my 4hr chart. So I had a 4hr trend within a range. Now becasue Im only trading intrady day I can trade this with a bullish bias. I took a counter trend Short  yesterday which I held overnight. Price has pretty much bounced off the 38.2% fib for the trend and so I have managed my stop for the short to the high of the bounce. So if the up trend resumes my short counter trend trade will be stopped out and I have also placed a long entry at this point. Or if price continues to retrace I will remove my long entry and keep trailing the stop down locking in profit. I will get screen shots up ASAP.


Ok so the EJ fib set up to the long side so I managed my stop for the short trade to the same as my Long entry. The short was stopped out for a nice profit and I took the long Entry of the 38.2% fib as shown in the chart.

I was long at 123.75 and things are running nicely. Its a different setup to what I have posted before and as a swing trade it has a different trade management. I have locked In 50 ticks on a 3rd of the posistion and there are still 2/3rds running.

15 March

15 March

Ok so running through the Video setupon Euro/Usd if you didn't get a chance to see it then heres the link.

http://www.youtube.com/watch?v=MJ0QSQEy3i0&feature=player_embedded

Price breaking out on the 15Min range that I had marked out (bottom right) and so I'm using the 3M time frame (bottom left) to find my entry below the breakout low. Entry is the red line, blue line is the stop and the green line is my scale out point.

Euro trade on and running so now waiting for the scale out. Come on the Euro.

11:50

Euro trade stopped out and the 15min setup is no longer valid, now looking onto the 4hr and 1 hr ranges as marked out.

14:12

Euro/Jpy short on and running but didn't get a chance to get loads of screen shots and its a different strat so I'll run through the setup another time. It's a swing trade though and will prob be held through the night so I'll update on it tomorrow. :)

11 March 2010

Not posted for a few days as between the managed account and trading for Sigma my personal account hasn't really had a look in. Had some alone time with it this morning though and saw a nice opportunity on the GBP/CHF and thought it was worth a post.

Soooooooo.....

GBP/CHF

Seems to be a similar story accross the board after that big GBP sell off a week or so ago, things have been drifting a little sideways. I've marked out the range in the usual way on the 4Hr and am looking for the breakout or turn around at each extreme. Depending on how active you want to be there is also the potential to fib the range and look for price to turn around at some of those fib levels in the same way I showed before.
However looking at the lower time you can clearly see that a range has developed within my greater range so I've marked this off and would look for this to be my trade setup first. Due to the fact that this range is a little tighter I won't be trading the turn around or using the fib method either and will just wait for the straight break. I also won't go back to looking at that 4hr range untill the lower time frame breaks. I have also marked this out on the 15M chart.

Soo lets see what happens.....



GBP with a little get a little energy boost and pops out the range.

So to the lower time frame we go to try and get in on the action with an entry based on what price is doing.

                  

 The chart should show the entry clearly and now waiting for the trade to trigger or be void.                              


So the trade is still pending and there is some important swissy news out shorty. From my view I'm happy to trade through the news but there are others that would pull the order. For me I placed the trade over an hour before the news (which is my cut off point) so even though it hasn't triggered I'm going to let the order stand Unless it voids by my setup rules.

Swissy trade voided and off the table. Sorry for posting on a rubbish pair today but I wasn't to know that it wasn't going to move for me. Buuuuut the setup is still there. Due to the false break, range high is moved to breakout high.

8th March

Following on from the setups I marked out on yesterdays video the EUR/USD had a little look above its upper boundary but no trade was triggered and price retraced back into the trading range. The retracement has pulled all the way back making a lower low which gives me the green light for a short as this suggests price is turning around at a known point of resistance. My short order is pending below the lower low and I am now waiting for this to trigger or void.

Short Trade on and scale out has just been hit.









Little bit of trade Management for me due to the break of a previous swing high. Stop is now at 1.3655 so worse case the trade is +21 ticks on a 1/3rd of the posistion. :)

Ok so last 1/3rd of the Eur short stopped out and the trade overall was +21 ticks to one lot. So not great but I'll take it. Becasue of the false breakout to the upside my range is now managed to that breakout high to. So we are back to waiting now.

7th March 2010

Usually on a sunday I like to have a quick look at how the week ended and how next week is going to start. This way when I sit down tired and groggy on Monday morning I already know whats going on and can crack on with a cup of coffee before the day gets to taxing.


Video is tiny for some reason so also have it on You tube.

http://www.youtube.com/watch?v=KHnRBPYTyKs


Thanks

Pozzy

04 March 2010

Sorry I didn't get to finish yesterdays post but all in all a poor day. I kept damage to a minimum and ended up around 40 ticks down so could of been a lot worse and the moves at the start of the week mean that I'm still on track.

I made a cheeky video in the afternoon as I had some time on my hands and It shows a slightly different setup.

I looked at a different pair as well just to try and keep it interesting. This setup works nicely for a wider range so it fits well with what we have seen with the large GBP moves and it also throws in some fibs so mixing it up a little. I'm not to sure if it's the traditional way Fibs are used but it works for me and provides a good way to scalp a larger range after a large move so I thought I would post it. The trade itself wasn’t fantastic and only made a small profit but It shows one of the ways I like to use fibs.For some reason I couldn't upload it so I put it on youtube, (sorry its a little fuzz)

http://www.youtube.com/watch?v=kjkhkUYCHAU&feature=player_embedded

Fairly dull morning for me so far, Would like to post a setup but I haven't really got one. Can't see myself doing anything until after all the GBP news. Tried shorting this morning and took a small loss so I'm staying out for now as price action is pretty poor.

Soo back to waiting for me.

Thanks

Pozzy