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.
EU - GU - GJ TRO SETUP TRADES
Moderator: moderators
GU 5 Min Chart
- Attachments
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- GU Long - Rat Race.PNG (24.67 KiB) Viewed 2365 times
Last edited by monarch on Mon Nov 23, 2009 11:38 pm, edited 1 time in total.
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Short EU
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.
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
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- EU Short.PNG (22.75 KiB) Viewed 2355 times
One more short
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
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
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- EU short again.PNG (23.9 KiB) Viewed 2337 times
Last edited by monarch on Mon Nov 23, 2009 11:50 pm, edited 1 time in total.
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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
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
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- GU short.PNG (23.87 KiB) Viewed 2330 times
Last edited by monarch on Mon Nov 23, 2009 11:40 pm, edited 1 time in total.
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
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.
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
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
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
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
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
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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Thank you for your support.
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