EU - GU - GJ TRO SETUP TRADES

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monarch
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GU 5 Min Chart

Postby monarch » Fri Nov 20, 2009 3:26 am

With the 4 hour chart giving Long signals, I focus on the up close view of the 5 minute chart.

I can see with the Rat Zone that price is STUCK in a small range, and all of a sudden price (the rat) chases the cheese upwards, then realizes that he is out of his box, so he goes back to SNIFF the box, and decides the cheese is more important at this moment then the confines of his BOX.

So I join the RAT RACE and when he SNIFFS, I jump on his back holding on tight and ride the move up to get that CHEESE.

Hope you enjoyed that, I sure did, only got +5 pips on it, but with a good streak of wins I am risking small cheese balls.

Cheers.

Here is the chart.
Attachments
GU Long - Rat Race.PNG
GU Long - Rat Race.PNG (24.67 KiB) Viewed 570 times
Last edited by monarch on Mon Nov 23, 2009 11:38 pm, edited 1 time in total.

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monarch
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Short EU

Postby monarch » Fri Nov 20, 2009 4:13 am

Had the 1.4914 marked as stall area, price squeezed above a few more on this run.

I entered on the 5 min candle at 11:10 pm EST, price is sitting right at 1.4914.

Target is 1.4907 and stop above 1.4920 break.

I have 1.4907 marked on the chart, but that is actually 1.4898 area.
Attachments
EU Short.PNG
EU Short.PNG (22.75 KiB) Viewed 560 times

monarch
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Postby monarch » Fri Nov 20, 2009 4:28 am

Exit EU short, price broke above my red line, important to have stops, I try to keep my stops at the same as my profits.

Will post a chart in a few.
Attachments
EU short Loss.PNG
EU short Loss.PNG (19.98 KiB) Viewed 555 times

monarch
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Postby monarch » Fri Nov 20, 2009 4:44 am

EU is sitting right at my stop line 1.4920.

Could spike upwards towards the daily high, waiting once again.

monarch
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One more short

Postby monarch » Fri Nov 20, 2009 5:23 am

Okay, I seen my last short stopped out, and I knew there was going to be a true stall to pay out, so I watched the 5 min only, knowing the hourly and 15 min was getting tired.

I did not post this at the time of the trade so I could concentrate more on the trade, I will do my best to give live trades, which I think is an awesome help to those who like to see others sweat once in a while.

Lesson learned, I took a loss for -7 pips + 2 pips spread for -9 pips
Waited and re-entered the same direction just a little bit later and this time cleared +10 pips profit, so +1 on the two trades there.

My trades today
UJ +11
EU +7
GU +5
EU -9
EU +10

Total +24 pips

4 wins and 1 loss.

Keep the losses small, and the wins can win.

Cheers, going to bed here soon.

Monarch
Attachments
EU short again.PNG
EU short again.PNG (23.9 KiB) Viewed 542 times
Last edited by monarch on Mon Nov 23, 2009 11:50 pm, edited 1 time in total.

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monarch
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Postby monarch » Fri Nov 20, 2009 5:45 am

GU hit Daily High

Short at 1.6670

Real tight stop, a break of the Rat Zone 1.6674

Limit +7 pips (as is my norm) 1.6659 target
Attachments
GU short.PNG
GU short.PNG (23.87 KiB) Viewed 535 times
Last edited by monarch on Mon Nov 23, 2009 11:40 pm, edited 1 time in total.

monarch
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Postby monarch » Fri Nov 20, 2009 6:01 am

Closed GU short at top of new hour with a break even, did not like the slow market, and a breakeven is great when it could go either way.

I had a 4 pip spread to play that trade, so it came my way 6 pips, and I said, good night.

Cheers, Monarch
Last edited by monarch on Mon Nov 23, 2009 11:50 pm, edited 2 times in total.

monarch
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Postby monarch » Fri Nov 20, 2009 3:16 pm

Looks like London did the sell off of the EU and GU as expected.

The Sell Zone on EU held and the UJ Buy Zone I had marked also paid out.

I do not trade Frankfurt or London these days, I get enough trades during Asia session, so I find time to sleep normal, then go do a full days activities before finding myself about 3-4 hours of Asia pips.

I hope everyone has a great weekend, and we will see you when the market opens back up.

Cheers and Good Trading to ALL.

Monarch

monarch
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Postby monarch » Fri Nov 20, 2009 3:17 pm

Looks like London did the sell off of the EU and GU as expected.

The Sell Zone on EU held and the UJ Buy Zone I had marked also paid out.

I do not trade Frankfurt or London these days, I get enough trades during Asia session, so I find time to sleep normal, then go do a full days activities before finding myself about 3-4 hours of Asia pips.

I hope everyone has a great weekend, and we will see you when the market opens back up.

Cheers and Good Trading to ALL.

Monarch

drofwarc
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Postby drofwarc » Sat Nov 21, 2009 1:22 am

Hi monarch,

I just found this thread and think it's great. I'm looking forward to seeing you back in action next week.

A question for you. Do you take into account the direction of the daily trend or the daily close?

Also, could you talk more about how you pick your entry points.

Thanks and have a great weekend.

drofwarc

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