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Rsi Breakout

bizWiz
Mar 24 2010 at 16:10
397 posts
i do not usually post exit setups, only entry setups, so here's what i'm looking at currently:

<a href='' target='_blank'><img src=''/></a>

sold at the red dot, i'm now looking for the price to hit the support of the channel for an exit.

Attachments:


Sleep is for the weak.
bizWiz
Mar 25 2010 at 08:00
397 posts

bizWiz posted:
    moving on..

trying a short on eurusd:

<a href='' target='_blank'><img src=''/></a>

the first channel has failed, and a secondary channel formed. the price has retraced to the previous support of the first channel which now acts as resistance (upper yellow point), so i expect it to go down (lower yellow point). if the price gets to the second yellow point, i think the support is just to weak to hold it and the price should continue even lower.

i'm ready to get my pips back and some more! 😄


got it back and then some 😄. channel has completed, i've closed the position for +230 pips.

Sleep is for the weak.
bizWiz
Mar 25 2010 at 13:25
397 posts
missed a good setup:

<a href='' target='_blank'><img src=''/></a>

Attachments:


Sleep is for the weak.
bizWiz
Mar 25 2010 at 19:26
397 posts

bizWiz posted:
    missed a good setup:

<a href='' target='_blank'><img src=''/></a>


although price has retraced almost back to the entry level, i'm not going to enter the short position until i see some usd weakness on the other majors.

Sleep is for the weak.
bizWiz
Mar 26 2010 at 15:28
397 posts
usd is showing some weakness, trying a short on the usdjpy:

<a href='' target='_blank'><img src=''/></a>

Attachments:


Sleep is for the weak.
bizWiz
Mar 29 2010 at 13:51
397 posts
usd is continuing to show weakness signs, however the usdjpy is reluctant to go any lower - will close it if the price reaches new highs.

the previous usdcad setup is valid since we've seen that usd has weakened, but i've missed the second entry point so haven't taken the trade. i think that next time i'll just enter the trade and will exit if it's not confirmed, since it's better to exit with a small loss than never take the trade and miss the opportunity.

Sleep is for the weak.
bizWiz
Mar 30 2010 at 17:34
397 posts
excellent long opportunity in eurusd:

<a href='' target='_blank'><img src=''/></a>

i'm not waiting for the price to hit the support exactly since there was a gap in the weekend, so taking it into account, i've already entered the position. also, it's potentially a 200 pips trade, so i don't want to miss the entry because of 20 pips.


Attachments:


Sleep is for the weak.
bizWiz
Mar 31 2010 at 09:04
397 posts
although usdjpy is hitting new highs, the usd is losing grounds on all pairs, so i'm expecting it to start dropping soon.

the usdcad by the way would have been an excellent trade, that's if i would have taken it 😄.

Sleep is for the weak.
bizWiz
Mar 31 2010 at 15:15
397 posts
closed both positions, for a small profit. not sure why the usdjpy is climbing up, so will wait for a new entry.

Sleep is for the weak.
bizWiz
Apr 04 2010 at 22:38
397 posts
ok, here's an opportunity for a long in the eurusd (just opened):

<a href='' target='_blank'><img src=''/></a>

Attachments:


Sleep is for the weak.
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