Firstly BAH! I couldn't recatch my last weeks trading results with myfxbook account pictures etc. All i can say that i had super week last week. I mean, it was my first really good, profitable week! And it felt amazing. Even tho i lost a trade on friday, but that doesn't matter because i finished with wooping over 5% in profit!!!
So good luck this week guys, lets hope we can bag some more
Cable short is giving me some sweats As i have progressed to using smaller SL, usually the high of the highest candle of stacticcandles patter or just above it And cable is playing with the recent highs!!!
Just gotta love those Small Time Frame (STF) trendlines. Yes, their existence is short but they do come in handy. And they sometimes show unreal S&R!
Edit: Like i said, i took two trades. Both short. Cable and fiber.
- Entry 1.2362, SL 1.2370. Took profit at 43 pips which made my R&R 1:5
- OTE. We had a small OTE formed aswell (but i was already in the trade)
- Holy grail
- TT and pivot sell zones
- 1.2360 was a key level
- Friday's asian high
- Entry 1.5710, SL 1.5720. Took profit at 15 pips which made my R&R 1:1.5
- TT and pivot sell zones
- Stoch was indicating lower prices
Already posted this trade picture. I was aiming for 1.5715 but i thought it will never reach there. Well i was wrong that level was touched like gazilion times
Anyway. Am happy with today! And am very happy to lower my SL to the minimum.
For tomorrow or day after (i know i said don't predict market), i think cable will blast upwards. And i think it will be a big move too which ever way it chooses to go. If you catch it, you might want to holding it till the end of the week
Well it happened today unfortunately i couldn't participate in that huge move! It never gave a good sell signal, despite some spikes lower and straight up which aren't valid for me.
I did expect (or more like wanted) one more low. Thats why i tried to short yeah yeah... not the best idea but! These losses only make me love my tight SL even more. Along with small long scalp, i took only -0.8% loss which is good.
Just wanted to show a sweet setup am in right now Don't know how it will end, but from technical side it looks pretty beautiful.
LONG Kiwi (NZD/USD):
- Holy grail 1h;
- Big figure 0.8100;
- Pivot S1;
- Sweet static candles;
- HTF trendline;
No, magic number is 4. I usually enter at the 4th candle. Just try to look at chart for at least 4 candles at the same level. You'll see more than a few setups take shape like that. Even for example fiber two days ago, before rally up from CPP. Yesterday's fiber run up at LO (thats where i shorted and took a small scalp).
And just my assumption - more stacked candles at the same level, more S/R there is. And it makes you to wait, and more often wait through bad trades (save you some money).
Like i said, try to look at charts for those candles. Maybe it will be helpful for you