3 Sept 2009

1hr and 4hr TFs????

What are these TFs Daniel?? 1 and 4hr? what happened to the dailies?

No panic - I'm on leave this week and I'm selecting the best trades (non-usd) on the daily and waiting for tighter entries on the MIN 1hr TF - No Lower - so I'm not hunting the lower TFs more gaining a tight entry based on 1hr and 4hr SR levels and PASR in the daily direction. All this because I have time this week.

Back to work next week so no matter what - back to the daily TF as I'll only be looking at the charts for a quick 30mins after 2200UK time each evening!!

Pulled or rather stopped out of audusd - I moved the stop last night to the top of the daily IB and was taken out today - small profit and I'll wait till after US NFP on Fri and Labor Day on Mon before entering the market again.

I've initiated a small short position in gbpchf based on the pullback and textbook 1hr Shooting Star. Been looking for an entry into this pair - just hope that NFP leaves this one alone. IMF warned today that the UK was the worst placed country to pull thru the recession too; that should help this piece of crap sterling plummet and also help my other 12 pip risk position long eurgbp that I took this evening on the appearance of H4 ii candle formation at the weekly 20ema. I'm pretty sure we will see another attempt on the big down TL - hoping for a break thru with such small risk (12 pips) that I risked £2 per point. Again, could be risky with NFP but I'm hoping these pairs are left alone unless CABLE messes the party up tomorrow?? We will see!