Friday, May 18, 2007

US Session 18-05-07

A tricky session. I smelled the rat but couldn't avoid falling into the trap after the release of US consumer confidence report. Two losing positions in a row, wiping my earlier gain on the CAD trade +29 pips.

Long USD/CHF -12 pips (a speculate trade that went wrong)


Short AUS/USD -11 pips (jumped in the trade too soon without further confirmation)


Session rating: - ; Level: 2 star
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2 comments:

Anonymous said...

Dear Mr. Lloyd

Your charts may be quite clear to you, however if you are posting them to instruct someone (which is a noble endeavor)they are deficient in a couple areas. Wouldn't a person wonder just which bar the long or short is on? The arrows by themselves seem confusing. If it's an up arrow why doesn't it say "buy" or "bot" & the amount? And the chart is not clear on what period - day, hour, etc - sorry to be critical, but your charting service seems rather weak to me.

5/18/07, 10:14 PM
Lloyd said...

Hi Anon XXX,

If you check closely, you will notice that most of my charts are just simple 5 minutes intrady candlesticks covering two fixed trading periods (i.e. European session 8.30am - 11.30am UK time & US session 1.30pm - 4.30pm UK time).

To clarify, I am still practising discretionary trading and therefore, those arrows found within my charts are there to assist me in making right decisions. Basically, different set of arrows when combined with different candlestick patterns yield different meanings to me. For starter, I have compiled some of my favourite candlestick combinations here for you to check on.

At the moment, these charts are collected for my own research/reference purposes. I hope to reveal more detailed information in due course.

5/19/07, 1:00 AM

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