Hi! This is my analysis for today!
The pip profit is above yesterday’s. Let see what the market is telling me, hope good news!
[ul]
[li]NZDJPY bias long. It is telling me that it maybe get a correction. I think I’m going to move my stop 10 pips below previous day low. That is a small risk of 40 pips.[/li][li]AUDJPY bias long. It is retracing, I’m going to move my stop below previous short term support. It is by far the worst of my current trades both in pips and cash, so if it drops a little more, I will close it with the stop. The stop is risking only 33 pips more.[/li][li]USDJPY bias long. It is showing support, 3 doji like candles without breaking the support, and also just on my uptrend channel. That is enough for me to leave it untouched.[/li][li]AUDUSD bias … well, don’t know what to think about it. I think I’m going to wait until a more estable condition on it, because yesterday’s candle was too long and current candle is already very long, and very near my support, so I think it is too risky for me to short it. Also the channel, that I use to define my bias on most pairs, is almost flat. I’m not going to trade it for a while.[/li][li]CADJPY bias long. The support is holding. USD and CAD are somewhat correlated, so I think it is reasonable that both are showing similar signals for me. I’m not going to move anything on this pair for the moment.[/li][li]NZDCAD bias long. I see the support holding, but to be safe I’m moving my stop to previous support, that is giving me a total risk of 50 pips on the trade.[/li][li]AUDCAD bias short. It is working wonderful. Thanks to weaker data from AUD today all the bad moves on AUDJPY is offseted by this pair. Not looking anything to move my stop.[/li][li]AUDCHF bias short, same as AUDCAD.[/li][li]GBPCAD bias long. I see a bullish engulfing pattern. That very well could transform to a 3 outside up pattern if current candle closes above and green, so I’m placing a order on close above the resistance level at 1.5710.[/li][li]NZDUSD bias long, but current price action shows that there is a correction or maybe a trend change. I’m moving my stop 10 pips below previous low, that gives a total risk of less than 10 pips to the trade.[/li][li]NZDCHF bias long, just above my uptrend lower line channel, I think a buy is very near on the pair, but I want to see a nice candlestick on it because is some correlation risk with NZDUSD that has also risk of end of the uptrend because the patttern and also there is the correlation between NZD and AUD and AUD is a litttle weak.[/li][li]GBPNZD bias long. I just opened my trade on it, will see if what I think about a trend reversal on it and the green candles I’m looking works. There is also a risk that this is only a false move from the current consolidation (short term) channel.[/li][li]GBPAUD bias long. It is working nicer than GBPNZD because the aussie is weaker than the kiwi. Nevertheless, I think both trades are going to work well because I think the pound and the cable are fundamentally weaker than the aussie and kiwi.[/li][li]CADCHF bias short. I just sold it. The two red candles before it are very nice looking, well, yesterday’s is not too nice, but it’s body is big enough to show that bears are under control for now.[/li][li]GBPCHF bias long. The price is currently on the 38.2 % retracement, and on a previous resistance. Also it is on my middle line of the uptrend channel and previous candle is an inverted hammer, that could transform to a morning star or something like that. I’m going to place a buy if current candle closes above previous day’s high, at 1.45.[/li][li]EURAUD bias long. My buy was just triggered and it is now on profit. There is some risk on this trade because the price has yet to close above 1.2908, that is the previous trend line that has broken. It could bounce there and reverse down and transform in a downtrend, but looking at current longer term price action, I see HH and HL, inside a big up channel. That gives me a lot of confidence on the trade![/li][li]EURGBP bias short. It is holding below the previous high and also below my stop. I think current PA is good enough for a short.[/li][li]USDCAD bias short. I’m little scare on this pair. Previous day is a ugly green candle showing balance. Balance is not what I want to see hehehe, I want to see lot of bears eating bulls, so I’m adjusting my stop to previous resistance, just in case this candle transforms to a bullish channel bounce.[/li][li]GBPUSD bias long, trade is working as expected. Currently bouncing on my up channel upper line.[/li][li]AUDNZD bias short. The support is about to be broken. Bad results on the aussie is making it weaker than the kiwi (as I said before) and current candle seems really bearish! Nothing to change on the pair for the moment.[/li][li]EURNZD bias long. The price is currently on a resistance. Let’s see if it makes it and becomes a good long.[/li][li]USDCHF bias short. It is doing very well, but now is on a support. I expect some problems here. If I see a candle pattern that shows a reversal, I’m going to move my stop.[/li][li]EURUSD bias long. Previous day was a pinbar, on a resistance. I’m going to lock some profit on it because it could very well reverse and let me out without anything. I’m locking about 45 pips on it.[/li][li]GOLD bias short. Well, it made a evening star pattern, on a resistance level, that is also the 61.8 % retracement, I see enough reasons to place a order on close below 1448 with 2 % risk. This is the first time I trade gold with PA; previously I traded it with buy & hold, so this is going to be an experiment for me! hope it results in a shiny and golden experience![/li][/ul]
Current floating profit is greater than yesterday, both in pips and money, and that makes me happy hehehe, and makes me thank MG99 for this great thread.
I’m going to continue trading this way for 2-3 months, but someone told me that one should double their account in 20-30 winning trades, and I think that this technique with it’s simple approach and with the easy MM is going to give trades that wins 5 % or more each one. Also, there is enough fun on it for me, and also too little time to invest so it is a prefect balance for full time working people like me.
from now, the price is in better place than yesterday, it made a tweezer bottom halting the down move just at the same price, strong support, isn’t it? well, we will see soon![/li][li]AUDJPY bias long. My stop is holding! the candle pattern is a very nice spinner that shows strong support, but I can’t say victory yet.[/li][li]USDJPY bias long. Previous day finished green, and made the morning star pattern. It is a cute signal for me, because is turning my trade on the pair to the green side![/li][li]CADJPY bias long, seems to be working my way, the same as other yen pairs. Support is holding.[/li][li]GBPJPY bias long, this is nice, if today’s close is above 152.6 I will buy tomorrow :)[/li][li]NZDCAD bias long. Current price pattern is a nice pinbar on a support. What say, is a VERY nice pinbar 
well, waiting to see what happens next, it made a new lower low, so I continue with my short here[/li][li]EURNZD bias long. It is showing some support at this level, will see in some days, maybe 2 or 3.[/li][li]USDCHF bias short. In a retracement. I have an entry on close below 0.9939.[/li][li]EURCAD bias long. I’m going to buy it at 1.3235[/li][li]NZDUSD bias long. Waiting to see if it follows my idea or reject it.[/li][li]USDCAD bias… maybe long. Waiting for clearer signal. It is holding on the support, and very well could be bouncing on it to continue the previous uptrend, or maybe only bounce to a new lower high, only time will tell.[/li][li]EURUSD bias long. It is on the bottom of it’s channel and it could be in the process of making a cypher harmonic pattern (ignore this if you don’t know about harmonics! I’m only trying to incorporate harmonic trading to price action). It is also on a lower time frame up trend line, if it closes below that line, it could drop up to 1.29, before bouncing, or it could be worse and become a bear trend.[/li][li]GOLD bias short. Currently in a range that has not been broken yet.[/li][/ul]