Besides Columbus day, it’s the Canadian Thanks Giving. Sometimes it’s better to be lucky and good. I had 2 open trades audusd and eurusd. Having one of those can’t concentrate and focus days, even though I mixed up both charts I made a small profit on both. So I’m with you everything is off and retiring to watch the tv. My kids are home today and they all have friends over in the pool so I’m hiding in the house.
I never traded Monday for a long time, Friday neither. I could never seem to make money on those 2 days, so I avoided them, other than today I’m a lot better recognizing potential opportunities so now I go Sunday to Friday noon. Anyway back at it tomorrow or tonight after my afternoon nap.
I see Pete Fader posted, now there’s a trader that knows Wyckoff. Hope he sticks around. If you havene’t caught any of his video’s take a look. Tons of great info.
Good luck PMH on your trades. I hate trading NZD and JPY I never get them right.
I never traded Monday for a long time, Friday neither. I could never seem to make money on those 2 days, so I avoided them, other than today I’m a lot better recognizing potential opportunities so now I go Sunday to Friday noon. Anyway back at it tomorrow or tonight after my afternoon nap.
Same here Monday is like black Monday for me every Monday, Friday not so bad as long as I don’t trade past NY. If I do it is usually terrible. I do know why but I am reaching that point where I will be saying No to Monday’s.
For me I when I’m trading shorter time frames I want as much of the probabilities on my side as possible. Of course that would mean under most circumstances no trading Fridays for sure. As I said I will trade Mondays, Fridays and the rest of days and sessions, but only when things are in my favor. If you believe trading success comes from the long term, no need to take unfavorable trades or sessions in the short term, as your trading is not dependent on one trade or session.
I have a pending short order on the 30 minute audusd. Volume indicates Markdown, price is trending down, from the earlier uptrend. Trade is confirmed using support, resistance and money flow index. Fibonacci reading done on the 30 minute time frame, I illustrated on 5min minute chart, cause it’s easier to read. Red is stop, between the green lines is entry, trailing stop is at the turquoise, gold lines are potential profit targets. No aud reports til after 7:30pm EST and no usd til tomorrow 8:30pm EST. I may hold on to this until I can get a feel for tomorrows usd reposts if down trend continues
Hello everyone…had a sh*t 24 hours through a choppy NZD/JPY! Small losses, thanks to betting low on these trades… It looks like the pair stalled around 84.00 and chopped up and down; after several shorts being stopped out, I started believing that a rehearsal was in place, but instead of waiting I started placing entry orders to the upside, but, alas some of these got triggered but stopped out also. I am now flat on this pair, waiting to see if the bear trend will continue or reverse…
Thank goodness I stuck to my money plan and did not ‘bet the farm’ on these trades…
Had a choppy yesterday as well. Was looking to short sterling, first move lower looked like fake so went into my 4hr, waited for the confirmation, just as I went short a pull back was due took me out for 15 ticks had the same, had the same trade on the Euro so went down 30 ticks. It was time to retire for the day. Anyway Sterling did move lower just not for me.
In any case the USD may have some trouble as all pairs are caught up in congestion.
Well, part of our fund is ready to go so it is official I am a full time trader. This will be my first full day of trading as a pro. So you may not see me a lot but you will still know what I am looking at I will post up some my efforts my partner has put a gag order me not to make the funds performance public but I’ll still share some stuff here. Wish me my luck guys!
Haven’t done a video in a while so enjoy. Hope you guys had a good trading day. I spent most of the day look at strategy going forward. Thinking about going long on Sterling will decide at sessions close but it looks like the sell side is struggling. We shall see.
Seems like that 1.5870 level came off a pip or two shy in the end on GBP/U. Sad news is I missed the opportunity to buy as price ran away in the Asia session to above 1.6000. I was expecting it to languish at at least 15880 till early London but seems like that guy ran away. Anyway, I have been pushing the 1.5870 for some time now (Gutted). It has made me set limit orders at all the other reversal points but hope some of you managed to catch that turnaround, I get the feeling Sterling will tick away nicely perhaps all the way to 1.63 areas but risk/reward doesn’t really work out anymore for me as stops need to be under that 1.5870 support so unless it pulls back for a retest in which case I would rather wait for the break and follow to perhaps 1.53 areas.
Anyway looking at the Yeng pairs at the moment looks like the Aussie and the Euro could continue lower against the Yeng so looking for that oversold area which appears to be coming. Keep an Eye on 132.90 EJ and 91.12 ofro AJ, good buying area, some good order clusters should be at that level so at worst break even after 100 pip lift off but targets are 136.11 and 138.09 extended target EJ and 94.00 target 95.81 extended AJ.
Look at the size of that!! 121 pips in the space of ten minutes!! It was all due to the RBNZ’s Governor saying that the NZD exhange rate was ‘unsustainable and unjustifiable’… Of course we have all heard him say this before, so why the big reaction in GBP/NZD (and AUD/NZD, among other Kiwi pairs)?
Whatever the politics, I made £170 out of this…
Now I am off to mark my students’ music theory exam papers…with a big smile :))
[QUOTE=“PipMeHappy;661514”]. Now I am off to mark my students’ music theory exam papers…with a big smile :)) Happy trading to you all!![/QUOTE] very nice catch, and, don’t give to many "A’s"now !!,
