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there were buys on aud/usd at 0.9130, 0.9132 and 0.9141, 0.9146 in the asian session and this mooring in the london session. all stops at 0.9110 for the time being. take profit will be a 2 stage process, one being above 0.9233 and the other above 0.9530

NB. Do you remember that I asked you to change your Stoplosses from 0.9129/0.9118 to 0.9110 yesterday? The reason for this is that I noticed a technical feature that suggested the TREND entries may have been voided. The first entry yesterday at 0.9169 was the first trend entry. its stop loss was 0.9129 (40 pips). The main countertrend entries were 0.9151, 0.9142 and 0.9150 followed by 0.9148 and 0.9132. As you can see the INSTANT a 1 minute candle poked through the TREND entries stop loss price begun its powerful ascent. Therefore, to cover ourselves I chose the stop loss of the 1st countertrend trade which was 0.911. This protected us from getting stopped out and has also assisted in me knowing what price is going to do in the future. In the future I will be on the lookout for such events as that unique 1 minute candle (call it the ‘reaper’ candle if you wish - so you know what I am talking about) would have been a perfect reentry opportunity with 18 pips stop loss. What you could actually do in the future is set a ending order of a buy stop to buy at that ‘reaper candle/stopout’ level and go to sleep in full knowledge that when you wake up if price has hit your entry level you will be in profit. I hope that you understand what I have just written. I hope it will all make sense whenever we have a similar situation in the market.

I will update on AU TP level

Nice calls on AUDUSD today! I am still watching and monitoring your calls. I am following you on twitter. I am expecting EURUSD to top out Friday or Monday. I believe you are defiantly onto something here, but as with every trading method it has it’s inconsistencies. None the less I am gaining interest with you!

I have taken two very small experimental trades on AUDUSD as follows:
both entries at 0.9231, 1 SL at 0.9221 and the other at 0.9212. Let’s see what happens :slight_smile:

I expect 0.9609 will be the TP for our AUDUSD long - bu tI will confirm and keep you posted every step of the way

You mentioned something about a two stage take profit process. But now we are going to be taking profits at only one point?

0.9212 was meant to be 0.9205 from last night

a close below 0.9252 on 15 min could be the next buy impulse

I have taken 50% profits on AU now

setting stop loss for other half of trade to 0.9197 to lock in profits

I have also entered an additional AU long with Stoploss 0.9221 for the sake of cover my back in case price zooms straight towards TP 2 which I strongly feel will be the case

added to my buy AU again at 0.9267

altering new trades’ sl to 0.9213 for the time being

get ready for another trade

I have bought again at 0.9256 on AU

Fully prepared to buy more if I get a 15 min close below 0.9252 & 0.9242

0.9233 @ 16:00gmt was my last buy on AU with only a 20 pip stop loss

Of all of my mini trades today this one has been the most significant - it was a retest of yesterday’s last buy and and a better price by 20 pips at that

Have a great weekend readers!