yay! closed my NU trade at 1:3 profit, very happy about this trade because i followed my plan exactly. EA on the other hand just stopped out for a small loss.
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Making pips is my interpretation of the question: " What is the sound of one hand clapping?"
Keeping pips is the sound of two hands clapping…
I have no doubt you will be clapping with two hands! 
Well done! A well-deserved profit! 
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I was really hoping to find a trade to get in to before I leave for work today, but I’m just not seeing anything that I like. I’ll be watching NU for a retracement and another sell entry…
1 hour timeframe, NZD/USD, downward pennant, pennant formed with 5 bars.
The Ever Salient VIPER
This is for education only and is not investment or trading advise
Thanks for the tip 
I’ll be at work for another 9 hours, so I’ll have to re-assess the situation then…
@Clint is a wealth of information. Just linking this here for personal reference and for anyone else who struggles with the math…
https://forums.babypips.com/t/needing-help-with-the-math/75982
Well, I didn’t see any trade opportunities jumping out at me on Thursday or Friday, so I just stayed out of the market. To wrap up the week, with one small loss, and two positive trades my account increased by 11%. I’ll be reviewing the NY close charts that wrapped up this week after I make dinner for the kids, and then post some possible trade opportunities for next week.
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Well, CC be well I’m out.
The Ever Exiting VIPER
Umm…okay? See you around…
Excelllent, great result !
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Thanks, but my account is small so it is easy to make a big impact - positive or negative!
These are two trades that I am going to be watching when market opens:
I am watching the NZD trades too, but think it might be a couple days for a good retracement entry.
10 hours after market open both of the above trades are still far above the entry point that I wanted. However, GJ is showing on the 4 hr chart that it may reverse and I think I can possibly get a 1:3 RRR on a countertrend trade. Then when it finds support (assuming all goes as planned) at the 149.285 level, I’ll look for a signal to go long as I had originally planned. I don’t usually do countertrend trades, so I am a little nervous about this…but this is what I think is most likely to happen - so I’m going to go for it.
As I am watching this trade, I was thinking about how often we price action types read the NY close charts and then “expect” a retracement during the Asia session. I’ve always wondered why is that? Are they just really in to countertrend trading during the Asia session? Just curious, one of those things I know to look for but don’t understand the underlying reason for it.
Update: research online basically says that after the stronger moves in NY session, there is often consolidation during Asia session. Of course, in general there will be more “normal” movement of the Asia pairs like AUD/JPY/NZD since these are their business hours.
well, it got halfway to my target and i lowered my stop to “in profit” territory because it came back up and started looking bullish. sure enough i was stopped out. small profit. this level seems to be holding - may not get a better entry to go long atm. i’m still on the fence about taking a further trade.
Update: although this trade didn’t make me much money, I think I learned something from it. Price kept moving down and hit 1:2 RRR. So, in the future if I attempt a countertrend trade, I think I will set that smaller RRR as my TP. Duh, retracements are always shorter than the dominant trend legs. So, set that smaller RRR, and leave my trade alone and trust my initial instincts for what price is going to do <-- I was right about the direction it was going to move, I just need to stick to my plan.
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Long on GU…shooting for 1:3 rrr. Couldn’t get the entry I wanted, but want to get a trade in before I leave for work. Still not a bad entry I think.
Opened a countertrend trade on NU…reasoning is that it is due for a retracement. Price is extended far from the MA’s that I am using which means there should be a strong move back. Price is also at a level that found support previously.
Ouch, that one hurt. Well, this GBPUSD trade stopped out. If the daily candle closes (bearish) and south of the trendline tomorrow at NY close, then I would be looking for a short opportunity.
My NU trade was closed out (voluntarily by me) because I realized shortly after opening it that it was making my margin uncomfortably close. #SmallAccountProblems So, anyway, it was basically zero change (slightly positive).
As I said before, a small account is easy to impact in a big way - positive or negative. This losing GU trade knocked me down 12%. I know that is a lot in most people’s eyes, but I don’t trade based on set risk values. I trade based on the dollar amount I am comfortably willing to lose. And I was intentionally increasing my risk so that I could increase my potential profit as well. So, that being said, I’m not planning on opening any more trades this week as I work 12 hour shifts for the next 3 days and it’s end of week anyway (early Friday morning). Fresh start next week.
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Hey everyone, been super busy this past week…but thought I’d check in and mention the trades I’m watching at the moment.
First up, NU. So, on Friday it dropped a pin bar (possible rejection)…but I don’t feel confident that it’s going to continue in a bearish direction right now. If we look at the weekly, we see that it is at a level where it has found support multiple times before. This trade may not be ready for a while, I’m looking for it to come back up and test the level I have indicated here. I don’t mind sitting back and waiting for the right opportunity.
Next one, is UJ. It’s at a level right now and I think it will continue in a bullish direction, then hopefully drop down and test the level as support. That is where I would be looking to get in to a buy trade. But, it could also stall out and reverse at this level as it has before - so be on the look out for bearish activity.
Another trade I’m watching is GC. I see a reverse head-and-shoulders pattern and price has just come down and tested the neckline as support. So, I’m watching for bullish signals off of this level.
Lastly, I’m watching UC. It’s looking bullish and if it shows rejection of this level - I’d be looking at a buy trade.
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