Hello Bijoy,
Came across this chart. Can u put your thought on this possibility?
Is it a possible opportunity?
DD
nice catch but i wouldnt bet my money on it the sell off is too sharp for me to call it a retracement. but in ideal world it is an ideal setup.
Hai dubadat.
Actually EUR/CAD is not in my watch list of pairs (See Post #1 to know my watch list).
Even then I went through the chart and seeing an opportunity to go long on the pair.
The price and stochastic is also showing some hidden bullish Divergence.
If I am in the court, I will wait for a strong bullish candle to close above 1.2835 which will be above the recent bearish candles. I will place my stop loss just below the previous resistance (Somewhere around 1.2775) and will look for a TP which will give an RR ratio of 1:2.
Thanks Bijoy,
Appreciate your response.
DD
dubadat…
hey bijoy. i know its your show, and i enjoy it, but i see something on EURUSD that is similar to your method, so im gonna share it here if you dont mind. Green vertical is my buy order, red one is my tight stop. 1st tp is the current price, second is previous high. For bigger image click here
Hai kwonkicker.
It is nice to see your plan to place buy order at 1.3071 which is at previous resistance. In my case, I am more conservative and will look for closing of a valid bullish candle at previous resistance before entry.
btw market is rallying without even looking back to my entries lol)
Yes. It looks like the price don’t want to retrace to the extent what we expect to !!!11
Friends,
Since start of this thread I had 7 (1 to 6 and 8)wining trades in a series. Finally I faced my first loosing trade.
Yes…I lost my trade 7 (Short USD/JPY from post # 44).
Price hit stop loss and gave birth for my first loosing trade of the month.
This trade took back 50 pips from me and deducted my account by 2.2%. Now my account balance is reduced to $3517.00 from $3583.00.
What I did wrong ?
I think I violated one of my trading rule while having this entry. It was necessary for me to wait until the price to come back and close under the trend line before getting entered !!!
What are your thoughts ? guys …
My trade 9 (Short on GBP/USD) is still open and is presently in the red area.
BIJOY
A very honest appraisal of of the reason the trade failed. It was not a fault of the system. It was a lapse in following rules. You have not lost a trade. You have learnt something my friend.
This will help your trades in the future.
7:1 winning ratio is a great winning ratio.
Many more winning trades await you
DD
Hai dubadat…
Definitely I learned a good lesson from this trade, my friend…
Also
Hai kwonkicker,
It is a nice set up spotted by you on NZDUSD. I will wait for the price to bounce from the trend line and a 4 hour bearish candle to close below 0.8200 with patience.
similar setups can be found on GBPUSD AUDJPY and possibly USDCAD. btw EURAUD has completed trianglish wedgish pattern-they all look same to me- and is about to break.
Next one or two candles can guide us to determine future directions.
I will enter directly in some trades, if candles signals for a bounce and will wait for a pull back, if it is a break out.
Did you check the weekly and monthly chart? 
Yeah, The pair is in a downtrend in the weekly and monthly chart. But on the weekly chart, the pair found support near around 77.00 to 78.00 area and started a retracement. But I failed in defining the right direction.
The trend is your friend until it ends
Yes, there is a strong monthly support starting at 77.80
Not saying that your trade was bad… just that the odds were not the best.
