Fx futures Journal

Quote from Buy1Sell2:

The Aussie interests me for an intraday short, but I would prefer the 20 MA from the 240 chart to have a little less of a steep angle here. I will look for a new short signal from the 60 to give the sell signal.
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Shorted the Aussie futures here at .7697. Profit target is .7647.
 
Looks like we may take a bit of intraday heat (bounce) here on our positions. This must be embraced and is necessary to withstand when trading--it may be false--

Note: I would like to get back into the Canadian short, but it has the beginnings of an upside reversal pattern going on the 15 minute chart and since I am already short Aussie and Euro Futures, we'll keep it where we are for now. :)
 
Quote from Buy1Sell2:

I am changing my profit target from 1.2789 to 1.2726 based up the action on the 240.
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I don't believe that the 1.2789 target will be difficult to hit, the 1.2726 is questionable, but the 60 and 240 are synced up together today and so I must hold for that lower target.
 
Sorry I did not post in real time, I shorted the Pound at an average price of 1.8995. Both 5min and Hourly charts showed short entry.

Of course I took my profit at 1.8981 and when I came back to the computer after lunch, it was at 1.8935 lol.. oh well I can imagine I took those extra 50 pips lol....
 
Quote from Buy1Sell2:

I am going to stick with the intraday Euro FX short here based upon the 240 chart.
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I've been craning my neck from every angle, trying to pull out something from the 240 chart, but keep drawing a blank (this wouldn't be the first time :-) Can you elaborate any, B1S2, on what this chart says to you, provided it's not purely intuitive, or based in the proprietary realm.

I do see the RSI coiling into a triangle, which suggests to me an imminent b/o, but I can't find enough clues to favor one direction over the other. The only other thing I notice is that price appears to be loosely confined within a consolidation range of 1.2880 - 1.2660. Would your current short trade be playing off an anticipated movement down toward the lower level again?

Thanks for any thoughts - congrats on the CD ...
 
Quote from mephistoII:

I've been craning my neck from every angle, trying to pull out something from the 240 chart, but keep drawing a blank (this wouldn't be the first time :-) Can you elaborate any, B1S2, on what this chart says to you, provided it's not purely intuitive, or based in the proprietary realm.

I do see the RSI coiling into a triangle, which suggests to me an imminent b/o, but I can't find enough clues to favor one direction over the other. The only other thing I notice is that price appears to be loosely confined within a consolidation range of 1.2880 - 1.2660. Would your current short trade be playing off an anticipated movement down toward the lower level again?

Thanks for any thoughts - congrats on the CD ...
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To be honest, I don't have a lot left here to go on the 240 either. I am attaching a chart for perusal. Yes it is my thought that with the MACD above zero that we stand a chance of oscillating downwards to the lower end of the range. The 60 minute chart is telling me to bail though and look for a better entry. I am taking my 18 pip profit here at 1.28320 and will reevaluate. :)
 

Attachments

The Aussie has some interesting 60 and 240 charts which suggest some downside. The problem is that we had a long RSI grail with the 09/01 close and so the short that I have is running against that. I will be watching this one closely.
 
Quote from Buy1Sell2:

The Aussie has some interesting 60 and 240 charts which suggest some downside. The problem is that we had a long RSI grail with the 09/01 close and so the short that I have is running against that. I will be watching this one closely.
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Gotta stay short for now. 240 chart attached
 

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Thanks for your comments, B1S2, and for the view of the chart. Not sure of the reason, but my rsi (14) unfortunately does not duplicate what your chart shows - that leaves me wondering ... hmm. If I may ask, the lowest line on your scale which is approached twice by the index plot line - is that your "30" line, and then increments of ten going up?

I don't follow the Aussie, but the setup on that chart would have me busily searching for my entry if I did :-) Good luck ...
 
I mainly trade the Euro, Pound and Yen and dabble in the Swiss Franc when I am feeling reckless. Hopefully I can pop in now and again with trades and indicator discussions.

This morning I lost money going long the Swiss Franc and Euro but made money shorting the Pound and Yen for net profit overall. I do not trade everyday but when I do I will try and post what I am doing and hopefully a chart for discussion if you do not mind.
 
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