Sunday, March 29, 2009

A couple trade ideas from a follower (updated)

ERUUSD
>1.3380 pivot
1t 1.355 r1
<1.3276>140.20 m4
1t 140.62 r3
2T 142.30 pivot

Update: Long never triggered. Short triggered, hit first target and beyond. Moving stop to >1.3180.

AUDUSD
>168.63 Gartley buy
Targets are the Fib levels

Update: Triggered and was good for about 50 pips. Stopped around .6900. A couple of us were together earlier and entered this one at the .786 fib level (around .6882), about 20 pips from a dbl bottom. Because we entered early we were not able to book as many pips. This was a bit more aggressive entry I think. It could have easily continued south and stopped us at the stop loss (the dbl bottom) and missed the up move all together.

In my mind this wasn't a real clear Gartley pattern. It does go to show how we all can see things a bit different and still get good results. The person that called this booked about 50 pips then noticed a pattern forming after his targett was hit. He then entered a short and is still in that trade and has booked over 100 pips on the second move. I'll show this move later when i get the time. It was a great call on his part.

EURJPY
>130.60
1t 131.00 pivot
<129.40

Update: Long never triggered. Short triggered, hit first target and beyond. If your watching the S$R levels the next target was 126.70. Moved stop to >127.40. Trade stopped.

Remember to book profit and reduce risk along the way.

No comments: