H1, and seeing a lower high Short setup at 82.42. A close above 82.45 is required for any longs. Also, dollar appears weak right now. Please post a chart so I can see what you are seeing.
http://img573.imageshack.us/img573/8901/u15.png
Long View
interesting look, ill put a limit order around 82.45 I think we can be in for a short move up to test resistance for a small profit
upadate: I got in long usd/jpy at 82.48 …tp1 82.65 tp2 82.80
Ok, I updated my last post with your LONG outlook.
bank, I would love to post charts but I currently do not have a program for a screen capture…what do you suggest?
You can use ALT+Prnt Screen on your PC or FN+Prnt Screen or Download YASCU.
At H1 Pivot Swing High. Possible place to add to Longs.
bank, for some reason babypips wont let me attach my jpeg
Im trying to reply under advanced reply and then select manage attachments to upload my jpeg but it wont accept for some reason
You have to go to ImageShack® - Online Photo and Video Hosting, upload your image, and copy the link then you use the link to post the image here.
well my long got stopped out at 82.26 the low of the higher low setup, I missed my tp1 by 1.5 pips ughhhh!!! hate when that happens
net -26 pips
You win some you lose some. But with such a tricky setup, you will want to breakeven early next time. Sure there will be some short setups on that pair on its way down.
Our EUR/USD Long Trade matured at T5 for +215 pips. This swing trade has ended for this TF though there be a longer setup on the H1 chart.
thanks lol, my main concern ive been encountering is the issue with mixed signals from the higher tf to lower tf…how to decide which trend to take,
for instance on my usd/jpy trade:
the 1hr trend has been trending up
the 4hr trend since the high 01/07/11 has been down, however it hit a higher low on 02/04/11 and has been trending up…
the daily trend found support on 10/31/10 and has been somewhat rangebound finding higher lows
let me follow your eur/usd trade, right now its creating new highs, should I wait for a pullback to find support and go long on the high of the higher low?
Yes sometimes you will get mixed signals. It took awhile for me to decide on the USD/JPY so I used the knowledge of the movement on related pairs like the EUR and GBP to assess the probability of the trade. Specifically, weak dollar, hence the short setup at resistance would be more likely to hold. What I try to do is find a swing, hold it and keep adding to my position for a couple days or for a week. Let me know what pairs you trade so we can analyse together. I am more of a EUR/USD, GBP/USD trader.
i follow usd/jpy eur/usd gbp/usd and eur/jpy and eur/gbp crosess as they all correlate highly…but I will stick with eur/usd and gbp/usd to keep this thread on the same page ( no pun intended lol)
Yes this would definitely be the approach. Wait for confirmations on the last higher-low candle buy since we just complete a 30M swing.
Haha no problem!
here was the trade setup I was looking at for the usd/jpy
by the way bank, thank you very much for critiquing my trades I feel as though I have the right ideas but my executions are a little off so by having a extra pair of eyes helps ground my analysis.