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Friday, June 11, 2010

15MIN Chart Reversal Pattern!!!



This is the same HP setup i have posted a few times before. I usually see this on the 5min charts but today it formed on the 15min and I have found it to be very accurate at showing future direction. What you look for is the formation of a doji candle at the top or the bottom of a move. And then opposite candles on each side of the doji showing the reversal. In this case red candle down, doji, yellow candle up and then the buy off to close of the yellow candle. And of course the close and short of the bounce of the 50SMA. I know this is not exactly scalping per say but it does give you a direction in which to look to take trades. The first chart photo was taken when it the setup formed and the second chart photo was taken at the market close. I shared this with some other traders earlier. I hope you made some money with it.

NY #1-4


Got a late start...
1- tested the recent lows had yellow broke against me -6
2- had the 50fib at 49 took the buy +4
3- saw rest at 43 got in 44 +9
4- shorted off the red +5
Now past my bedtime, have a good one...

Wednesday, June 9, 2010

5 Min Chart, 2nd Half of NY Session!!!


This exact same setup happened in the first half of NY except it was an uptrend, so we were looking for PB's to buy into the up move.

#17


17-same trade, yellow had 6 got +5 time of day and execution

#15-16


took a bunch more trades on this move down here are a couple more i just took.
15-yellow +3
16-same trade +2

#11-14


11-yellow I was telling myself hold this james hold this but it hit the fib and i exited +8
12-luckily i got the same exact trade again off the yellow entry but like a dumbass i exited at the fib again +8
13-got yellow but going down so looking for quick strikes +2
14-again price stretched down to the support at 24 where i entered a tad premature it turns out, +1. I knew i should have held that damn short....coming to the end of my session...

#7-10


7-yellow buy, this are quick hits in and out +2, market seems to be reversing we will see.
8-yellow buy +3
9-same trade same exite spot +5, i should be shorting from from my exit, damn easy to see now.
10-another buy off the stall a break lower and I would exit instead +2

#3-6


3-got yellow bought, zig zag, thought this was going to break back up, when it broke the low in this range i exited -4 MFer!!!
4-same setup again got the buy off the yellow +7
5-stretched up, yellow shorted and jumped in the water is nice fast +6
6-again yellow took the buy off the support at 24 got in 23 +2

NY #1,2


1-price stretched i shorted off the yellow,and it broke higher, first trade a loss, you believe that shit -3 and of course it came back!!!
2-same trade took it off the fib +7

Tuesday, June 8, 2010

#22,23 50SMA Bounce!!



22-heard the audio alert, price pushed up and i shorted, these are really easy trades for me. +3
23-same exact trade except this was the bounce off the 50sma AGAIN +3.

#20,21


20- price again stretch, paused i shorted +3
21- had support at 84 got in at 85 off this push up looking for the price to stall of the volumn of the move up. +9

#18,19


18- price shot up saw 57 as support on my charts and from earlier on the 5min. got in at 59 and very quick got +5 BUT If you look before this move up the trend was moving down then came up to the spine and it looked like it was heading down for a nice continuation trade but intead the price flew up 20 pips, there is no way I could have recognize this move to be able to grab any of it. So for me it is much easier to let the move exhaust itself and catch and easy retrace.

19-price spiked again, shorted +9

#13-17


13-again price tested the lows, i should have held my previous short, but price spiked up and i shorted at 22 +5
14-same type of trade off the yellow +2
15-same trade i did earlier got yellow shorted from just above the test of the daily pivot +3
16-missed a few entries here but i waited for the reversal yellow and took it for +2
17- same yellow trade +5

#9-12


9-again the price pushed down and tested the lows started getting yellow, then price started stepping up and i bought, my SL would have been a break of the previous low +3
10- i missed the short continuation trade but the last time the price reversed up to the 40's area so i was not sure if it was going to do the same, so i waited and the price pushed to 14. I know the EU likes to stall many times between 12-14 price area so i bought at 14, a break below 11 would be my sl. +4
11-price pushed up and i shorted into the downtrend +5
12-price kept moving up got yellow telling me OB and time to go down plus i was at the daily pivot +9

#5-8


5-again price came down to test the lows, got yellow and bought +5
6-took the pullback to short into the down trend and it broke against me -4
7-price stretched,again jumped in a short off the yellow, thought it would break down further, missed the exit +3
8-yellow again and shorted +10

NY #1-4


1-recent lows were 22 took the buy on the step up trade +3
2-missed the buy again but the priced pushed up, i noticed earlier support had formed at the 37 area and here is stalled so i took the short counter trade +2
3-similar trade but a bit higher entry, price spiked down i missed the exit for +2 so i held it then it came back +4
4-and i bought on the exit for the continuation trade the other way +4

Pre Asia



I happen to be at the computer and heard the audio alert, so I opened the charts had yellow and saw price was pushing down and about to bounce off the 50sma 5min so i took the buy at 57 +4.

Monday, June 7, 2010

Doji Hammers & Double Stack Candles Patterns!!!


-These doji hammers clearly show reversals in price, usually you can grab some pips once these have formed.













-Next you can see the two side by side candles form a double stack and the top wicks form a sort of tweeser top, showing reversals in price.

#10-12


10-yellow priced stretched and i shorted +4
11-again took another short from the same area as before +4
12-same trade again but we are getting at the end of london so i wanted out quickly as this likes to reverse up and become unpredictable +3

I found this session difficult to read as there was no solid trend for the session instead the yellows proved to provied solid quick in and out pips.

#7-9


7-got yellow took the buy +4
8-again yellow +3
9-shorted off the stall +4

#3-6


3-i saw the overall trend was down had just tested 17 so a pullback up to short back into the move. Was up 5 pips and did not close thinking it would break down into the 20's. instead it rev. up on me exited -4
4-shorted again, same mindset damn if it did not bite me again -4
5-took the short again from the same area in trade #2 +5
6-same trade but quicker as it seemed the price was obv. trying to rev. up again. tough to read in here +3

NY #1,2


1-I sensed a small rev. here +3
2-pushed up higher the overall trend seems to be reversing down +7