Technical Templates

[xerb]

Wherever possible I prefer to engage when a swing is in progress jcp, the method behind that madness being I usually get to stick the stop behind a reasonably formed pullback level that is honouring a shift up/down in momentum, particularly if it's an intraday bet (which I must admit is rare lately).

If I need to locate such a level that necessitates a larger than normal stop I simply reduce my bet size to maintain the desired pecentage of equity allocation.
Obviously, every situation warrants a slightly different decision. It needs to be a flexible arrangement based on the objective for that specific trade, the pair in question (as some are more volatile than others) & the circumstances surrounding the entry.

[Sarah Foster]

I have the following pairs right up there on my hit list for today/this week.
Just a quick peek at the hourly charts will explain why.

Canadian Dollar v/s EURO, $US & AUD
AUD/USD, GBP/AUD, GBP/USD, EUR/USD & EUR/GBP.

Whichever sets up the likeliest will trigger me in. I'm looking for the usual stuff - nice trending behaviour on the hourly transferring down onto the 15/5min charts, preferably with a pullback and/or a 1-2-3 or stoch hook on the 60/15m.

[jcpfx]

I have the following pairs right up there on my hit list for today/this week.
Just a quick peek at the hourly charts will explain why.

Canadian Dollar v/s EURO, $US & AUD
AUD/USD, GBP/AUD, GBP/USD, EUR/USD & EUR/GBP.

Whichever sets up the likeliest will trigger me in. I'm looking for the usual stuff - nice trending behaviour on the hourly transferring down onto the 15/5min charts, preferably with a pullback and/or a 1-2-3 or stoch hook on the 60/15m.

I agree: UsdCad, GbpUsd, GbpAud, EurGbp were candidates coming into the week, and EurCad, AudUsd and EurUsd have become more interesting since monday.

This morning though, the Euro pack seems to want to retrace rather than break away again. So I am personally waiting for breakouts from o/n highs + pullbacks. Or, if the retraces go further back to the prior 4H lows, i'll need a 15min 1-2-3 + o/s stoch reading (or hook maybe) to get back in long.

I like GbpUsd right now, which could push lower..and I like GbpNzd which has some downside possibilities.

[2Taps]

Canadian Dollar v/s $US & AUD
Whichever sets up the likeliest will trigger me in.

Yeah, those are the top rankers for me this week.
I'm back in on a continuation lift this morning with aud/cad being supported through Asia into Europe & a double (60/15) hook entry on usd/cad.

[jcpfx]

Happy Friday traders,

I was wondering if anyone would have even considered a short on NzdJpy this morning.

4H view > we have retraced back to a prior swing low + bounced close to yesterday's high print without changing the 4h Lh/LL pattern
so theoretically the trend is still down.


This is the 15Min chart showing my rationale for entering (which I did on the 1-2-3) but I scratched the trade @ par already, because most of the other Jpy pairs have violated the LH/LL pattern on their respective 4H charts...

Any comments guys?

Thanks!

[kipper]

I was wondering if anyone would have even considered a short on NzdJpy this morning.

Hello jcp.
Not me I'm afraid. Kiwi has exhibited some strength the past couple of days & Yen is a weakening over the same period as evidenced by the higher highs & lows on the hourlies across-the-board.

I'm still focused on usd/cad which is continuing to display by far the smoothest trending action this week.
It's also printed another 60min/15min hook into todays european action.
Unless it's really standing out big & proud then I'm not interested in it.

[strobe]

I'm with kip on that one too jcp.
I look for the most visually appetizing background behaviour first & then put it on my watch-list for closer scrutiny.

I've also been betting usdchf & audcad this week based on that criteria.

[jcpfx]

...and here is a plain old stop loss...


4H trend still in place with the LH/LL pattern in place so shorts are still the way to go


15Min chart: price has retraced to 50% of the day's extension, right at yesterday's low print. It made a couple of pin bars on the 15min chart
as well as a Stoch hook. Unfortunately, I shorted this setup only to be stopped out on the IFO print.

Was this a bad trade in your view or is it just one of those days?

[speedbump]

...and here is a plain old stop loss...
Unfortunately I shorted this setup only to be stopped out on the IFO print.
Was this a bad trade in your view or is it just one of those days?

It's always a 50/50 punt stepping in ahead of data jcp.
Market was expecting (& to some degree priced in) a positive number, but evidently not that positive.
You're always going to get knee-jerk spikes on the back of under or over consensus releases. That's one of the drawbacks of intraday trading.

I'd file that one under "one of those occasions"....it could just as easily had gone the other way & you'd be looking at an acceptable exit profit.
Watch it turn around & slide slowly in your original direction now!

Did you not have usd/cad as one of your higher priority candidates this week?
That one has been tacking on very acceptable mileage & was mentioned on here during Tuesday's exchanges.

[jcpfx]

Hello jcp.
Not me I'm afraid. Kiwi has exhibited some strength the past couple of days & Yen is a weakening over the same period as evidenced by the higher highs & lows on the hourlies across-the-board.

I'm still focused on usd/cad which is continuing to display by far the smoothest trending action this week.
It's also printed another 60min/15min hook into todays european action.
Unless it's really standing out big & proud then I'm not interested in it.

Thanks Kipper & Strobe forthe quick feedback,

I agree that the Kiwi has NOT been an ideal candidate this week. I also had my doubts as noted in the prior posts (KiwiJpy was the only jpy pair exhibiting some reasonable activity this morning off an interesting level...and it's not a high probability play to bet on the exception).

I see that recently you're using the 60min + 15min hook...has the simple 15min hook OR 1-2-3 gone out of fashion?