as shown we are long gj
happy trading
as shown we are long gj
happy trading
as shown we have short aud/usd on a daily chart 618 fibonacci and down trend line convergence
happy trading
a couple of losses but that is the business isnât it?
now long on au
now also long gj upon tweezers and hammers
stopped out at b/e after forming a bear harami on 2-hr chart
we have now reversed on a 2h and 4h harami at the aud/usd 786 fib and ema356 resistance
off to poker! happy trading
au updates
t84 reverse au from long to short
updates soon
t85 short gj
t84 short aud/usd 0.7470
t85 short gbp/jpy 145.00
t86 short eur/usd 1.118
14 to go and I am done!
happy trading
looking at the âlonger termâ and in hindsight there was not a reverse from long to short on the au
the au has formed a weekly morning star which I had noticed but âignoredâ since I do not trade longer term,
however, the daily chart is showing still a strong up trend whilst the 4h chart has formed a nice morning start at the 618 and at the back of a broken down trend lineâŚ
so all in all we should be on the âlongâ side of the aud/usdâŚso we areâŚ
13 to goâŚ
as shownâŚ
the eur/usd has been on an up trend since 3/jan/17 and most recently since 7/apr/17 which appear to be its âfifth waveââŚ
Resistance: it has hit a major resistance area with the actual resistance line being at the 1.13 (it hit just 30 pips below it)
Candle: It has formed a day engulfing candle and it is in the process of forming a âharamiâ on the weekly chart
RSI: it is showing signs of a divergence in both the daily and 4-hr chart
Trend Line Break: it has broken the inner up trend line in the 4h chart
*It is one of my trading signals to trade the break of a inner trend lineâŚ
So, I can jump in and trade this reversal signals, or I can wait for a nice confirmation at the end of the week if it forms the âweekly chart haramiâ, meaning we need the eur/usd to close at around 1.12 (not too many pips below it nor above its weekly opening of 1.1203 eitherâŚat the moment it is trading at the 1.1220 which is quite tempting knowing that if i am right, it will close at 1.12 by end of weekâŚ
uhmmmâŚthis are the times I âjump in earlyâ and a lot of time get burned, or this is the time I decide to be discipline and miss out!..it never seems to workâŚthe problem is âlack of consistencyâ if I âalwaysâ follow the rules and are discipline and always wait for confirmation when I am in doubt then I will get the good with the bad in a more âbalanceâ way resulting in consistent profits.
I am just looking forward to finishing the month so I can start fresh once again. I have finally finished my updated trading rules/guidelines and have identified 3-key groups of trades I want to be in.
I started with 5 groups (based not on my written rules of the challenge) but based on my âActual tradesâ two of those âwere not appropriate trading methodsâ as example, trading against the trend without a trend line break but purely on RSI divergences !..they are expensive! you lose more than you win!
happy trading
t88 now short in e/u after the projected crown reversal formed at the 786
we are moving the stop for the eu from 51 to 72 (above the day engulfing candle high) the eur just missed us by 0.4 pips! to stop us outâŚa pretty close callâŚI want to give it more room to breath so the risk is now 43 pips
happy trading
reversed our long au at b/e now short due to strong resistance and a engulfing candle formed at the 4hr chart at the day resistance levels as shown ema, fib 382/6187/786
my concern still remains with the morning star formed at the weeklyâŚso lets see if we get to collect some pips out of this shortâŚ
happy trading
hard to update the thread while entering once trade but here it isâŚ
10 more and I am done, I really look forward to not keep updating this forum, it is just too time consuming, I donât know how you all guys do it!
I wish you all the best!
happy trading
now that the market has moved and formed positive signals I have updated the stops once more reducing some of the risks in the three open trades
happy trading
all of our trades are still on positive but you never know. at least the a/u has moved enough to move our stop to b/eâŚnow waiting for the other two.
happy trading
now we have two out of our three trades at b/e
happy trading
now all our open trades 88, 89 and 90 are at b/e
although i am taking a big risk to get stopped out with the eur/usd, letâs see what happens
gj is at +170 pips
au is at +50 pips
eu is at a megre +10 pips despite of having moved about +30pips and I believe it might be wanting to have a go at the major resistance levels stopping us out in the way reason why I have shorten my position and taken some profits while leaving the remaining at b/e
happy trading
happy trading