Showing posts with label Automated Trading. Show all posts
Showing posts with label Automated Trading. Show all posts

Sunday, 16 September 2012

GBP/JPY Shorting Now - Correction Appears Possible

Shorting the GBP/JPY, which to me, appears heavily overbought considering the state of affairs of the UK economy. Normally I do not take trades at this time, but I made the fatal mistake of opening my charts and looking for an opportunity. These days, I cannot open a chart and not see some sort of angle. I'm trading light here, because I'd rather relax and prepare for Monday, but here it is:





Looking for price to move from 126.96 down to either 126.50 or even better, down to 126.20 (Fibonacci levels of the latest rise), I need to pay for a new monitor and start planning on buying a car. My risk, so far 8 basis points, or pips at 127.068 on a 40K. I will glance at the charts and move this one into break even as soon as it is reasonable. Time to relax, and welcome to the new trading week of Sept 17, 2012 to Sept 23, 2012.

Sunday, 9 September 2012

USD/CHF Trade Idea > Long at Demand Zone

Based on the last significant Demand Zone, I am entering an Automated Trade order based on this chart:


Based on the last significant buying area (demand zone), when it was a good idea to go long on this pair, I have entered an automated order to purchase 3 mini-lots or a $30,000 contract to purchase this pair long at 0.9433 if it dips with the intention of the pair bouncing up to a supply zone of 0.9560ish. Risk -ve 23 pips vs. Reward +ve 129pips. I may remove the automated order and do this one manually or adjust the entry point based on the activity in the next hour or two. Swing low to swing high.