EU - GU - GJ TRO SETUP TRADES

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monarch
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EU - GU - GJ TRO SETUP TRADES

Postby monarch » Thu Nov 12, 2009 9:55 pm

This thread is to show the setups with charts for trade setups, entries, targets, and stops.

The indicators used are all found on this forum from TheRumpledOne.

All trade times will be based on Eastern Standard Time.


Cheers

Monarch

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monarch
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Postby monarch » Thu Nov 12, 2009 10:06 pm

No trades at this time but on the Eu and GJ 3pm EST there was a #3 signal on the hourly candle. I am presently trading the 15 min setups, but will start to trade 1 hour signals also.

On the EU and GU I am looking for +7 pips after spread and commissions, and on the GJ +10.

Most setups for reversal trades are near a support/resistance area where the #3 form, and I use that high/low for stop at this time.

I am working on confluence of the hourly and 15 minute charts for possibly bigger profits.

Cheers

Note: On the EU Long 1 hour chart I see target at 1.4877
UPDATE: EU has climbed to 1.4869 prior to Asia - long was good signal

On the GJ short 1 hour chart I see target at 149.26
UPDATE: GJ has finally made it's move downward to 149.62 so far in early Asia.


I will monitor these two trade for the next few hours into asia and pre-frankfurt.
Last edited by monarch on Fri Nov 13, 2009 1:20 am, edited 1 time in total.

monarch
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Postby monarch » Fri Nov 13, 2009 1:00 am

GU Signal Short 7pm EST
Entered at the 8pm EST open of 15 min candle
1.6590
Target 1.6583
Stop 1.6593
Attachments
GU 1 Hour 8pm.PNG
GU 1 Hour 8pm.PNG (59.42 KiB) Viewed 3853 times
GU Short 8pm.PNG
GU Short 8pm.PNG (65.55 KiB) Viewed 3855 times

monarch
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GU Short Exit

Postby monarch » Fri Nov 13, 2009 1:16 am

That trade took 15 minutes to complete

Exit 1.6583 +7

Here is the chart after close of trade

Cheers,

Monarch
Attachments
SHORT GU +7.PNG
SHORT GU +7.PNG (32.79 KiB) Viewed 3851 times

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roger_over
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Postby roger_over » Fri Nov 13, 2009 1:38 am

Mahalo!! for sharing and posting this. It is very helpful.
Do you trade both directions?
Genius is more often found in a cracked pot than in a whole one.
E. B. White

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monarch
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Hey Roger Over

Postby monarch » Fri Nov 13, 2009 4:52 am

roger_over wrote:Mahalo!! for sharing and posting this. It is very helpful.
Do you trade both directions?


Greetings Roger_over, yes I will trade both directions, but what I am working on is trading the 15 minute signal with an hourly confirmation.

I will give you a few chart pictures.

Cheers, Monarch

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EU Hourly Chart

Postby monarch » Fri Nov 13, 2009 5:13 am

In this first chart you will see red and green boxes showing the direction the market is making and where the next area of sup/res could happen.

I will show in the next hourly chart the #3 signal that formed earlier today at the bottom, so now I am looking for the next #3 to form and that will be displayed on the next chart also.

These red and green areas show the recent sup/res areas, and using the hour chart gives us the edge for a stronger area to expect the bounce to form.

You will not I have an area marked for my expected area of the hourly signal to appear, but I never expect the market to play out the way it should.

We could have an complete stall anywhere on this move up and could have a #3 form, so I keep my eyes open on the hourly and 15 min throughout the Asia session mostly.
Attachments
EU 1 Hour Directional chart.PNG
EU 1 Hour Directional chart.PNG (27.45 KiB) Viewed 3813 times

monarch
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EU 1 Hour chart

Postby monarch » Fri Nov 13, 2009 5:17 am

This second hourly chart shows the actual chart I watch along side the 15 min chart. You can see the #3 that appeared 11 hours ago, giving a great signal long that I made mention of when it appeared. I also predicted the target area of 1.4877 to be reached on this leg upward, were nearly there now.

I am waiting for the sellers to jump back on the bus and drive this down, but we all know the way it works, expect a big climb giving us the idea, HEY IT IS LONG - then we get that signal to just jump out at us.
Attachments
Hourly Sup-Res areas.PNG
Hourly Sup-Res areas.PNG (38.8 KiB) Viewed 3810 times

monarch
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EU 15 min

Postby monarch » Fri Nov 13, 2009 5:23 am

Finally the 15 min chart, that gives me the view I really prefer to trade from, I use to trade the 5 min chart, but realized the 15 min has really improved my entry and exits.

I have no problem waiting for a trade to form, many times I can see it forming, but I will just sit and wait for it, the only real problem is I jump in the trade earlier then I should, hopefully I can curb this appetite for disaster and let the sup/res play out along the lines of the #3 signal.

One thing I do like, if you take a #3 signal, you will know quickly if that fails, if price breaks that #3 high/low, just exit, sure a 10 pip loss could be the result, but that is okay, we can attack every time we get an opportunity to make back that loss.

In the past 24 hours I have taken 4 EU, 3 GU, 2 GJ trades, and all have performed at 100% based on patience, signal, and discipline for entry and exit.

My targets are very small compared to the time it could take to setup, but in 24 hours I have locked in 50+ pips of 100% profit, with no losses, and if there is another setup in the next hour, I will once again attack, win or lose, I must follow the simple setup.

Cheers

Monarch
Attachments
15 min EU waiting chart.PNG
15 min EU waiting chart.PNG (36.78 KiB) Viewed 3809 times

monarch
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GJ HOURLY CHART

Postby monarch » Fri Nov 13, 2009 5:41 am

This is the GJ hourly, you will notice I have place a red rectangle box in the area of many candles showing resistance.

We will either get a big stall in this area, or a breakout north.

I am looking for a #3 to form, it may happen in Frank or London.

150.04 area is the 61.8 fib on the overall move down.

Once again, wait, wait, wait, it pays off GREAT!!!


8)
Attachments
GJ Res Area Hourly Chart.PNG
GJ Res Area Hourly Chart.PNG (33.83 KiB) Viewed 3807 times

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