EU - GU - GJ TRO SETUP TRADES

[monarch]

This is another look at areas to watch.

GJ moves much faster and further then the EU or GU, so it would be no problem for this thing to puncture that 61.8 fib with distance, and then just stall and give signal SHORT.

Come to us, we will take your pips.

[monarch]

GU has just tapped the 1.6606 resistance, this was the high the last #3 formed on the 15 minute, if we break upwards, that will reduce that previous #3 signal and will be waiting for the next one to form higher.

[monarch]

This is an updated GJ Hourly chart, you can see the new green area of a higher move that formed, were now getting put into a position of the market movers taking over.

We can only watch from here, I will not risk any capital on this type of market, but once it forms, we attack and drain the bank.

Cheers.

[monarch]

EU Long Signal on the 15 min 9:15 am candle close

Will monitor this setup, Friday is not my preferred trading day.

Update: Previous #3 formed at supp line 1.4845, were now 2 candles past and #3 dropped to a new low at 1.4836. watching stall patterns at the moment.

9:40 am - #3 is forming at 1.4828 with the 15 min showing rejection of the major supp area.

[monarch]

Okay, with it being Friday I was not even tempted to press the ENTER button, but the EU finally showed rejection on that dip, I even had an hourly confirmation to Long.

GJ also formed a #3 on the 15 min at 9:45 am EST, but the hourly did not confirm Long on that pair.

Through the London session both the EU and GJ gave great short signals in the areas projected.

Have a great weekend everyone, done for the week.

Cheers,

Monarch

[monarch]

Well, I could not resist, with one minute till the 10:00 am bar I took a long right at the edge of the formed #3 with expectation of a bounce, I had a stop just below the supp #3 line and when the new hour opened price dipped and took out my stop, then i seen the opportunity to jump back in long and made up the loss.

So it was a -7 and a +7, you have to play the game to keep those pips squared.

Cheers
Monarch

[roger_over]

Once again thanks for taking the time to post and I did the same thing and did multiple re-entries on the signals 5m-15m (EU) which paid off .
Forgive me for not knowing this and (I have done several searches) but what do the terms "going North and South "mean direction wise. is north down and south up?
Thank you

[monarch]

Once again thanks for taking the time to post and I did the same thing and did multiple re-entries on the signals 5m-15m (EU) which paid off .
Forgive me for not knowing this and (I have done several searches) but what do the terms "going North and South "mean direction wise. is north down and south up?
Thank you

That is so funny, most traders think north means sell/short, and south is a buy/long, but here in california, when I travel south, I say going down to LA, or if I am going north I say Up to San Franscisco.

Either way, as long as you know where your going, then you will get there.

I have more charts to show later, but I will have to get out of a real relaxing chair and go to the desk to do it.

The EU did take off north at that 10am candle this morning, so the long was near precise entry, I was long at 1.4830 after that small fake out that seems to happen when it is ready to reverse.

I am also going to evaluate and report here which times are best for reversal times in the Asia and early NY, I do not trade London, it interferes with my sleep.

Cheers and a great weekend to you all.

Monarch

[roger_over]

Cool ,
Thanks for taking the time , I never thought about it that way , I used to live in San Jose and yes when I would go "down south" to LA . I thought according to the chart it appeared you meant north was up.
Thanks for posting the times as I am in HI. the london sess is prime sleeping time ,although I am tempted to stay up later and trade the start of london as opposed to getting up early and trading NY. So any info on trading time is appreciated , A great weekend to you as well.
Aloha

[monarch]

Hey Roger, I have been working some hours here this weekend on perfecting entry points on the indicators for trades. I had a long visit with a close friend that trades also, and he helped me with a few ideas to give a better entry on the type of trades I take.

I want to be careful on taking a trade on just a #3 forming, they re-paint and could turn against you if you enter prematurely. I will try to get some things together for the thread here this week, we should be getting some rain towards the end of the week, and that will allow me more time in the day to work on the charts.

Cheers, Monarch