6-12-2012 Tuesday - Henry

Monday 6/11/2012 21:03
G/U

H2 Chart
Sequence trend: Up
H2 Gold: Down
H2 DMI: Down
H2 range between inner bands: Upper -1.5575 Lower - 1.5456 (119 pips)
H2 TI trend: Up, but looks like it is about to cross ema
2 hour Romar / Simple spread: Simple - 1.5440 Romar - 1.5489 (49 pips)

H1 CHART
Sequence trend: In consolidation. Simple looks like it is about to cross ema to put the sequence trend down
H1 Gold: Up
H1 DMI: Down
H1 range between inner bands: Upper -1.5513 Lower - 1.5465 (48 pips)
H1 TI trend: Down

We are in heavy consolidation between the Sequence indicators on the H2 and between the Gold trend and Sequence indicators on the H1. Will need a gold sync at the very least for some determination of direction. If we get a Simple / ema cross on the H1 to put the sequence trend down, with the H2 sequence trend still showing up, this will further tighten this consolidation. There could be a long wait for the breakout in either direction.

1. Long on a Gold trend sync and an open candle above H1 Romar, which is above H2 Romar.
2. Short on a spike and hit to H1 TI.

EDIT-
6/12/2012 7:15

Both H1 and H2 are now synced for the up on Gold trend and Sequence Trend. Waiting on a retrace for entry long.

1. Long on retrace hit to H1 Ema or H2 TI @ 5500
2. Short on Gold sync reversal.

Long @ 1.5519 on the hit to H1 Ema according to plan, which also corresponded to a hit to H2 Gold/Ema.

Out for +20. Considered using a 40 pip TP, but could not focus on the trade since I had to cover the office today.

Evaluation- Happy with the entry and result, as it went according to plan. Was initially concerned with the H1 showing the Purple/Gold crossing, but the full Sequence trend and Gold trend sync made me feel confident that there was room for this entry.