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Good trading day for those small time frame traders

Discussion in 'General Forex Talk' started by Agent86, Apr 1, 2010.

  1. Agent86

    Agent86 Sergeant

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    Hi all

    I'm bored, so I post

    Today the 5min EUR/USD has some nice action today

    My personal strategy does not trade a .382 fib retracement, however this morning was a nice down AB move with a .382 retrace and nice bearish tweezer tops at this level
    It continued to the target like clockwork on the 5min charts for a 23 pips gain and only 3-4 pips risk SWEET

    After target was hit it bounced right back to the beginning and formed another AB bullish up move with a nice .382 retrace and shows us a bullish engulfing candle and takes off toward the target for possible 37 pips gain

    Currently at a 25 pips gain and only 8 pips risk it could see target of 37 pips or could get out at the MACD reversal and likely close with a few pips regardless.

    I don't trade .382's but those who do could have had a nice go at it.

    Happy trading
     
  2. Agent86

    Agent86 Sergeant

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    Yup hit the target

    Yep hit the target with another 37 pips, but only took 31

    Actually NO MACD reveral occurred so I kept watching.

    This one actually formed another AB on the way up letting me get a piece of the action, then retraced as a perfect .50 which I can trade; and gave me a nice bullish engulfing candle telling me it's about to take off, but it was a bit outside my desired stop so I had to waited a bit.

    It retested the bullish engulfing and then formed another smaller one which let me take the trade at a risk/reward of 10pips/31 and within 10 min. it power moved to the target

    32pips SWEET or 37+ for those who got in on the first move at .382 of the previous AB

    Just bored though anyhow was a perfect setup and trade for me, I love to see it moving like clockwork.
     
  3. Forexwatchman

    Forexwatchman Sergeant

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    Give us a graphic Agent86 and this post will rock! It's good to have other traders share the small trade setups that they encounter and adding a visual will help the newbies feel more informed.
     
  4. Agent86

    Agent86 Sergeant

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    Too ease some of the boredom I'll post my screenshots

    Hi all

    I'll post some screen shots during the day for others to review

    All trades are from the 5min charts, but analysis has been done from the weekly,daily,4hr,1hr,15min,5min. to get to this point

    As you will see my charts are simple there is more text for the screenshots then anything else on the charts, but typically you will see only MACD and fib tool and thats about it.

    The other tab on my chart has same 5min but with the CCI and 20,10,10 schotastics and bollingerband, but I rarely use that chart, I'm considering removing it altogether

    Anyhow here is my daily posts I hope you can get some ideas for your own strategy.

    Index of /screen
     
  5. Agent86

    Agent86 Sergeant

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    daily screen shots for small time frame traders

    Hi all

    just bored, posting daily screen shots

    See latest images by date and time:

    Index of /screen

    Just click the latest date

    i'll post during the day so you can see potential setups.

    This is only one type of strategy and there are just so many

    But you can keep things simple and still make lots of pips each month with little drawdown

    anyhow happy trading
     

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