Technical Templates

[castor]

Hi jcpfx, JimmyMac, and Carll

thanks for your helpful responses.

It seems that it really isnt as easy as it looks, with so many things to consider. Judging from my capital size, I doubt it is time for me to switch careers for now. Better to just stick to what I am doing as jcpfx suggest.

That is really my concern actually. Now that I think of it, having your entire household income depend solely on trading can be pretty frightening and really stressful for me, especially during bad months. Looks like i'll just treat trading as a sideline for now and see how things goes.

Thanks again for your replies Appreciate them!

Good luck to the 3 of you and the rest of the traders here, and to jcpfx, all the best to you, hopefully you will reach the top of that chart again! Don't give up

[jcpfx]

Good afternoon everyone,

don't know about you, but it was a tough week here

Scratched a UsdJpy long on monday, with it going nowhere and then falling back, and took a AudUsd short which allowed for a better than breakeven day.

Tuesday I was ready to short Aud against Usd or Cad and chose AudCad because it had retraced to 50% of the day's high-low move while AudUsd had not retraced as much. THe structure thoguh had me in doubt and I took my profits just ahead of 1.0500 where I was anticipating possible support. Nothing exciting there.
I also shorted EurUsd when it retraced, just after 4PM CET, to 50% of the drop (which flipped my bias to short) and diddn't manage it well, because I took everything off at 1.3000 shortly after LDN close.

Wednesday I continued with a short EurUsd bias and shorted on the 15Min hook at 8am CET, looking for a ride back to tuesday's low, which happened on data.
I also diddn't take the short in EurNzd which setup around lunch time at 1.5400 even if the setup was picture perfect, because it had already gone past 100% of the daily ADR and I was in doubt that it would have wanted to go back down there...

Yesterday (Thursday) the only setup that I would have taken was NzdJpy but I was concentrated on NzdUsd, UsdJpy, AudUsd...and frankly missed it totally.

Today I took the 15Min hook on GbpUsd at 8:45 CET with a stop at 1.5435 hoping for a continuation to yesterday's high & possible 1.5500 but got stopped out...and then Cable went to 1.5500

Frankly I am also upset that I wasn't able to get a piece of NzdUsd this week. If anyone has some success stories to share from this week, they would be more than welcome in order to inspire me

Catch you all on Sunday for the usual analysis and preparation going into next week.

[xerb]

No inspiration from me I'm afraid!
Shorted aud/cad tuesday lunchtime (gmt) & scratched it the following day for a small loss.
Opened a usd/jpy long yesterday afternoon through 99.25 & it got stopped during its own session this morning as it dropped through the 99.0 figure.

The only bright spot & saving grace for me this week was wednesday's aud/nzd pullback short.
Most everything else was a choppy, low quality mess.

[visualxray]

No inspiration from me I'm afraid!

Same here. I didn't like the look of Yen at all this week so gave it a wide berth.
I placed a buy stop on USDCHF @ .9375 late Monday but for some reason it didn't trigger & by the time I got to the charts Tuesday evening it was up above .9400 & the value had gone.

To cap a frustrating week my 0.8490 sell order on EURGBP got slipped to .8469 so although it's currently running at a profit it's left a bad taste.
That's my lot for the week. Quiet & uneventful.

[jcpfx]

No inspiration from me I'm afraid!

Same here.

Thanks guys for sharing your adventures. It seems that we've only got a few bruises after this week, so during the weekend all we've got to do is shake it off and get the concentration back!

Have a good weekend, and catch you on Sunday for the week ahead planning

[hawkmoon]

There are one or two regular candidates of this thread still up there vying for attention next week, namely AUD/CAD & USD/CAD.
Recent Canadian Dollar & Sterling strength have focused & highlighted the typical technical structures that this approach likes to avail itself of, & to that end GBP/AUD, GBP/CHF, GBP/USD & CAD/CHF are heading my watch list for potential long bets next week.

On the short side the best of my picks are; AUD/CAD, AUD/NZD & USD/CAD.
I will trigger any of those pairs that offer appropriate continuation and/or pullback behavior with accompanying hook confirmation.

[jcpfx]

There are one or two regular candidates of this thread still up there vying for attention next week, namely AUD/CAD & USD/CAD.
Recent Canadian Dollar & Sterling strength have focused & highlighted the typical technical structures that this approach likes to avail itself of, & to that end GBP/AUD, GBP/CHF, GBP/USD & CAD/CHF are heading my watch list for potential long bets next week.

On the short side the best of my picks are; AUD/CAD, AUD/NZD & USD/CAD.
I will trigger any of those pairs that offer appropriate continuation and/or pullback behavior with accompanying hook confirmation.

Good Morning Hawkmoon,

I agree: Cad & Gbp are showing strength and UsdCad short & GbpUsd long are my two favorites going into tomorrow. I have doubts that Aud will continue to as weak, because AudNzd has started to show signs of exhaustion in my opinion, and I am preparing to jump ship to NzdCad short & GbpNzd long to that effect. Aud remains the weaker of the two for now, but I feel that it may change.

I also think that UsdJpy is worth watching for short bets this week, and it will be on my watchlist.

As you know, I try to avoid the CHF pairs so I'll just wish you luck on them

[speedbump]

There are one or two regular candidates of this thread still up there vying for attention next week, namely AUD/CAD & USD/CAD.
Recent Canadian Dollar & Sterling strength have focused & highlighted the typical technical structures that this approach likes to avail itself of

Those two have certainly sprinted out of the traps handsomely again this week as has gbp/aud.

I took gbp/usd off the table yesterday along with usd/jpy as they've been huffing & puffing this week, but having said that it's a far livelier week than the previous one, so we can't really complain.

[2Taps]

Which is why it's always made perfect sense to identify a varied selection of pairs, latch onto the currencies displaying the obvious, continuous trend behaviour & ride them until they exhaust themselves.

No point in making life any harder than it needs to be.

[jcpfx]

Good Day traders,

what a week for some pairs! AudCad, UsdCad, UsdJpy were quite friendly to the model used this week...lets see what this week holds in store for us

In my view, Cad remains strong, as does Gbp and maybe Nzd, and Jpy is looking weak still...so the first pairs of interest are CadJpy & GbpJpy to the upside.
The behaviour of the USD will have me watching for continuation on GbpUsd & UsdCad as well.

Good luck to all!