Forex ideas

Nice job... keep up the good work.. Do you use smaller time frame charts for your entries, ie, 3, 5 mins? What is your average stop size?
 
Quote from KiwiRoo:

Nice job... keep up the good work.. Do you use smaller time frame charts for your entries, ie, 3, 5 mins? What is your average stop size?
More...

I dint use smaller then 5 min charts. I'm not best scalping trader and I don’t like to do that. It is just my experience. I have 10years experience with stocks and I'm not good scalper. But point is that system what I use (pure TA) is good for all time frames and everyone can use it. I use usual around 1% per trade. I'm also very conservative trader. After bad memories when I started I'm careful and I don't want broke after several trades.

Wish you all nice weekend
 
FOREX Corner

Date: 07/27/2008

Time:11:55 am ET
¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬¬
For Monday I didn’t find exactly setup chart but I found several interesting what I will follow during day. First I like to say that as in stocks or any instruments my focus is low risk setup and for me that mean setup where I can make reasonable trading plan with at least twice bigger reward possibility then risk what I will use.

USDCHF

I like weekly chart (flag and I draw action what we can get and what chart suggest after flag consolidation.

http://tinyurl.com/6pklyy


Equal move will be 50sma and previous low resistance area and that is action what I will follow. I use weekly charts not for setup just for possible direction. For setup I will follow 60 min chart. After nice strong move up with buying pace obviously bigger then selling pace in to low chart pulled back. For setup it must stay above 20sma (blue line) and if that will be case on the 5/15 min charts I will look for setup. This is just idea for now.
http://tinyurl.com/68clsv


USDCAD

I post last week this chart:
http://tinyurl.com/6fmckv


This is just example how I look on all this. I didn’t took it as swing trade but I was look for intraday setups. It is always good to see direction on bigger time frames what can help for intraday setups:
http://tinyurl.com/5znw2q



USDJPY

It is for now just idea too. I like 60 min base, but for low risk setup need to stay longer in base. But if will anyway, go and bounce from 10sma (brown line) I will take it, but with less risk then usual. It will be early breakup and trading risk will be higher
http://tinyurl.com/5jk4vr



GBPJPY

Close chart as USDJPY. It is something what I will watch. If will bounce from 10sma (brown line) then I will look for previous high target area. But if consolidation will continue then I will look for 50sma weekly resistance area.
http://tinyurl.com/5dsg84


As told above all charts are now on watch list for me. All updates I will send when I will see low risk setups.

Good trading!!!
Ivica
 
12:00

http://tinyurl.com/5v4vul

Bear flag on the daily time frame and I show it at 120 min chart. This is 3rd try to break down with consolidation (base) at low. I will short it under base and I will look for 1st support area as 1st target. But if will be daily trigger then we can expect much more as setup on the daily chart (bear flag).

EURJPY

Another oportunity.

http://tinyurl.com/5ra7ds

Good luck..
Ivica
 
FOREX Corner

Date: 07/28/2008

Time: 18:08 pm ET


Here are two ideas, worth to follow. I will like to see longer consolidation before setup, because right now consolidation didn’t hold enough long for low risk setup. On both charts blue line (20sma) is very important and I like to see bounce or pullback from it. If that wont be case then risk will increase. I use them for trend pace.

http://tinyurl.com/6ao5uf
http://tinyurl.com/5rlgz3



Good trading!!!
Ivica
 
You must log in or register to reply here.
Back
Top