Indeed good for a quick buck :cool:

[weglaufen]

Just a humble sharing on a intra day trade on 25th Sep on USD/JPY.

[Winston]

firstly, i dunno if it is a forum setting thats why your pictures didnt come out... but thats a really cool quick take.

nice.

[weglaufen]

Hope this is clearer!

[Winston]

did you pre-set up this... or you watched it happen?

what made you feel the reversal?

heh (: w

[weglaufen]

A slight decline in consumer sentiment, but consolation, improved compared to month of August's. Thus, market still moved. Hmm.

For details, refer to https://secure.ibfx.com/News/EconomicCalendar.aspx.

[weglaufen]

did you pre-set up this... or you watched it happen?

what made you feel the reversal?

heh (: w

Wells, at 830 pm, there was news on US Jobless Claims, the plunge occurred as claims was above consensus level. At 10 pm, there was another piece of news surrounding new home sales. Either 1) USD/JPY plunges further or 2) it rebounds to make up for the news effect plunge.

Based on the upward sloping line aka support, (drawn from connecting the lows for that day), if it breaks below, would need to short it. BUT, market usually rebounds you see, so that second line below it is to protect against false breakthroughs. It worked. Buy market order filled. And, trade closed when it reached targeted profit. :rolleyes:

[Winston]

impressed. nice use of s/r and patience.


nice.

[Winston]

i love the clarity of the logic. simple and clean.

if it happens, it happens, it doesnt, it doesnt. that's the best way!

[weglaufen]

Wells, after days of breaking through previous day's support levels, EUR/USD seems to be recovering from its breathtaking declines as the financial crisis engulf the European banks.

Just some trades made with the aid of fibo lines.

[Winston]

hmm... your second cluster is impressive.... you've really good pattern recognition.,..... first cluster is lucky loh! :P

[Shufang]

wow huixian, a very beautiful display of various trading strategies plus objective analysis that you have here!

for the benefit of newbies, the symbols of Oanda:
- a triangle that points upwards is a Long entry, a green circle after that is profit take. the converse for a Short entry (downwards triangle)

[weglaufen]

hmm... your second cluster is impressive.... you've really good pattern recognition.,..... first cluster is lucky loh! :P

Everyone needs abit of luck sometimes. :D

But, still need skill to make money. More skills than luck = Sustainable. :cool:

[weglaufen]

In forex, the spill over carnage from the rest of the financial markets have been wells, less severe for intra day trading since positions are supposed to be closed out within the day itself.

On a day when market started moving when I logged in, its obvious that the market was climbing up, so naturally I rode along with the wave and targeted modest pips which translated into more trades.

But more trades = more pips lost from the bid/spread :(

But overall still make money, so don't complain too much right. :rolleyes: