TraderDesk GBP/JPY Trades

[TraderDesk]

Two months before I saw a spike and a drop down afterwards.... Let's see if we see a repeat in this pattern.

[TraderDesk]

Here I see the reversal of the spike up in the last post. If it continues to go down then the pattern in the 4 hour chart of the previous post should set the trading...

Look at this 4 hour chart for Aug.6th. Where I show the spike up and then the deep reversal does it look like a copy so far on the second 4 hour chart which is now in real-time? Yes it does... Now I can see patterns in everything so I like to see where PA is against the Heiken-ashi trend. If that matches as well then the probability of estimating the direction price actionis taking will be much higher... Every trade is placed against the probability outcome...

First chart shows Aug.6th spike up and reversal

24-Sep-13 10-57-51 AM 4 hour.png

This chart shows now the same pattern for the moment.

24-Sep-13 11-53-17 AM 4 hour.png

And here I drill down to the 30 minute time-frame to see the spike and reversal...

24-Sep-13 11-52-08 AM 30 minutes.png

So now we wait to see what happens in the next hour...

[TraderDesk]

The 4 hour chart has shown my thoughts that the price action spike this morning was just a fake to get better entries for those going bearish. I have seen this pattern many times and the Aug. 6th chart that I posted earlier is an example of one...

[TraderDesk]

Sept.25 2013:

Morning... 4 hour chart shows yesterday the swing bias went bearish so I would open sell positions at certain levels like 157.80 - 158.3 area.

The question is will this be a couple days of bearish bias or a longer-term bear movement on the weekly?

However it goes as long as the 4 hour chart is bearish I would look to have intra-day bear positions.

25-Sep-13 8-09-00 AM 4 hour.png

[TraderDesk]

Here is where PA action is now in the 30 minute chart. I have placed sell limit orders to catch the move up and if/when PA goes back down I will look to take profit. That depends on what strategy I have open the positions against but it can be from 25 pips to 22 pips...

25-Sep-13 2-10-05 PM 30 minutes.png

[TraderDesk]

Well we had some interesting price action where I had to close out my sells today...Now I am looking to add some buys...

25-Sep-13 7-52-14 PM 1 hour.png

[TraderDesk]

Sept.26 2013:

Good morning, I am up earlier then usual as my computer woke me up with a price alert. Last night I had closed my sell positions and open buy positions when price on the 30 minute charts reverted back above the HA line.

Before I left the trading station I had set a price alert if price went above 159 to send me an alert which it did 05:25am local time. Now I will go make some coffee after I post here...

So for today I will close some buy positions to make up for yesterday and will add more buy orders when I see price action at better levels and when the London market wakes up.

Here is the chart:

26-Sep-13 5-38-55 AM 1 hour.png

[TraderDesk]

Some nice volatility happening with this pair. Price action is down where the HA line is on the hourly chart which I use when there is higher daily volatility on this currency pair.

I had close my earlier buy positions to get some profit and now have open a few new ones with buy stops higher up if/when price action moves up. If not then I have to close all my positions if price goes below 158. Now it is a wait and see...

26-Sep-13 12-40-19 PM 1 hour.png

[TraderDesk]

Sept.27 2013:

Good morning...

The last two days have been interesting price action moves. I won't get into details just to say that when you have these type of patterns to always look at the higher time-frames for guidance.

Here is the 1 hour chart. Price action is struggling to find it's groove so some injections into the market will be causing this. I will stay bullish in my orders as the 4 hour chart is still bullish in retrospect to price action.

27-Sep-13 8-34-38 AM 1 hour.png

Just now you can see some activity in price action, let's see if can pick up momentum today.

[TraderDesk]

Okay it is Friday and I have closed out my positions. It is early but I prefer to take some profit and watch how the day goes....