Taken profit on the E/J trade and closed out as we have approached and hesitated below this S/R line. My thoughts are now taking a long if we break above it and I get confirmation (pullback and PA) or short if we move away.
Razor
Razor
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DislikedSpewing I missed this one
I was chatting with another trader on Skype this morning about the following trade and it happened nicely. I thought I would add it here for you mate cause I know how much you enjoy simple trading.
The plan was a pullback to the base of the previous few bars as seen on the daily chart and then to scale down as we got nearer to see if we could get some good PA. It happened and I wasnt there for it DOH. Oh well we miss some here and there dont we. lol
RazorIgnored
DislikedHi Razor.
Nice work. Just curious about the various price points highlighted on the daily chart by diff coloured dotted lines. What is the significance of these points? They don't appear to be S/R levels....at least from what I can determine? Hope you can clarify? As always, I enjoy reading your posts and find your journal very informative.http://cdn.forexfactory.com/images/icons/icon14.gif
Thanks mate.
MIgnored
DislikedI have taken some longs on the following pins. SLs are below the 50% retrace of the pins and targets are around 2x to 3x but will see how things go. I will be locking in some profit and moving SLs to BE when I get the chance due to this being against the grain but there is some upside potential for a few pips and the Pins were quite strong and around areas of S/R
Dow mini
Silver
and AUD/USD I have a pending order at the 50% retrace mark. It is not the best pin bar due to where it is sitting in relation to the previous bar however a 50% retrace...Ignored
DislikedI took a half sized position at 8670 on the AUD/USD as it looks to now be moving forward. It lingered around the mid point of the pin without executing my order. SL is below the mid point at which point the other half will be picked up with SL below the base of the pin. Profits will be watched as we head higher.
Silver and Dow are slightly up also.
RazorIgnored
DislikedUpdate on Positions
AUD/USD Long @ 8633. 1/3 postion removed at 45 pips and SL moved to BE
DOW mini Long @ 9913. 1/3 position removed at 9940 and SL moved to BE
EUR/USD Long @ 1.3668 Trade is full lots and SL is now at BE. Aiming for 1/3-1/2 off at around 60 pips, rest to run but will consider trailing stop below the 4 hourly lows
Silver Long @ $15.17. Currently lingering and 1/2 off set for $15.50 or there abouts.
Had a small loss on yesterdays AUD long but left the order for 50% retrace in place which was picked up. So far the small...Ignored
DislikedAll positions have had a little taken off them and are now running at 1/3 except silver which has had the SL tightened but it running full. There is still a good deal of upside and I am looking to perhaps trail the SL for the others below the hourly swings. So far these trades have reversed a slight drawdown and have added about 1.5-2% which just aint too bad.
RazorIgnored
DislikedAll positions have had a little taken off them and are now running at 1/3 except silver which has had the SL tightened but it running full. There is still a good deal of upside and I am looking to perhaps trail the SL for the others below the hourly swings. So far these trades have reversed a slight drawdown and have added about 1.5-2% which just aint too bad.
RazorIgnored
DislikedNice trading mate. The only concern for AUDUSD progression is PA is heading for confluence of resis ( 50% fib (4H swing), SR level (87.3ish prev low ) so PA around this point will be of interest. A failure to breach could see revers as trend I believe is still bearish. If PA moves past, then 89 to 89.50 becomes next point of interest (for me) for a sell. Just my 2c and ofcourse I could be wrong (have attached a chart which hopefully explains what I'm on about). Be interested in your views.
Good luck.
Cheers
Mitch
AttachmentIgnored
DislikedWell the above topic is somewhat true. During my sleep the dow peaked at around 10130 which was a great level to take profit but alas I was having my ZZZZZs so I woke this morning and took profit at 10061 which is quite a bit less but the AUD trade was closer to the peak and I took profit on this too. I would be happy to see a small pullback before coming back and retesting the highs. It will be at this point interesting to see if the bulls have some strength over the bears.
The EUR trade was completelt closed out also and silver has been halved...Ignored