Anybody else catch the june 4th drop? I got tottally lucky. I had a BE sl in place from a previous trade.
Before bed I watched it come within 45 pips, figured I’d be stopped before morning. I was figuring it would break down after the diaily triangle, but what with the news I didn’t want put in a wider stop and chance a loss off of a spike.
Got up this morning and it had come within 6 pips of my stop, get rejected by a pivot, and tottally reverse and broke out of the EU’s descending triangle. I watched it until it went past 1.2000 a bit and got out.
A nice 208 pips, better lucky than good I guess, lol. Nice start to the weekend.
Sure, I’ve actually been using a combo of three (ponsi’s stuff, ichi & now cobras indicator set) (I like version 3) things for daily trades and hourly scalping/trend trading.
I’ve found, for the last couple of week anyway, that it’s pretty easy to get 30 pips out of EU, if I wait for a H1 trix line cross to happen or be imement or not spent, then drill down to 5M, wait for another trix line cross and then get in and either take 30 or let it ride. Usually it’l go to 30-50 and then reverse some, if it continues. I’m working on an hourly trend/scalp method, as I’ve got daily trend trading down good and those set ups sometimes dont happen for days.
For the H1 corbra method I get up for the new york open and start looking for H1 trix line crosses.
Oh man I missed it by a few pips, I was stopped out just prior to the drop!
I got back in this morning, ahead about 60 pips now, minus the 50 from the SL kicking in.
USD/JPY looks like an excellent sell, the Japanese house selected a new Prime Minister last night so their crisis appears to be over. Should see an appreciation of the yen.
I saw a cross with the ichimoku indikator and decided to go short. I entered late but not toooooo late. Only a few seconds later there was the big drop and i catched 80 pips before i closed my positions
Later they were NFP news, thats why i closed my positions and went with 80pips in the weekend.
