EUR/NZD
Chart Set Up:
Map out all Weekly (red lines) Daily (green lines) and 5 minute (white lines) support and resistance levels
EMA 20
ATR (5)
5 -Minute Buy Set-up:
Recent B/O of resistance with confirmed price acceptance
Reversal of down trend at support (bounce)
False B/O of support
5 -Minute-Sell Set-up:
Recent B/O of support with confirmed price acceptance
Reversal of up trend at resistance (bounce)
False B/O of resistance
Rules:
Stop Loss: Previous swing level, plus spread
Take Profit: Full profit at next major level, minus spread
Optional scale in: Pullback to EMA 20, if context will allow it
Minimum TR: 30 pips
Minimum scalp: 10 pips
3 Likes
Madalyn
September 9, 2019, 5:17am
3
how long have you been doing this?
1 Like
Been trading about 5 years now
You?
Ugly looking breakout, but still managed to eek out a 19 pip scalp.
Flat until probably Asia tomorrow. Bye for now.
5 Min basing and coiling structure. Wait for strength and clear BO above this area of resistance.
Probably could have waited for a retest, but confident this will continue.
Entry: 1.72003
SL: 1.71813
TP:A 20 pip scalp would be reasonable here, considering where it is at on the 4-hour time frame
And this is what we wound up with. Absolutely no follow-through and a 20 pip SL
I would trade this as a false breakout and continuation short, but the ATR is at 5 and it’s late in NY.
See you for Asia session
Inverted Cup and handle pattern, coiling for BO of minor support:
Took short position on BO of minor support
Entry: 1.71848
Thanks. Unfortunately, now price is stuck in another tight trading range. I would like it to break out soon so i can get some sleep.
Took 10 pip loss. Should have been out 20 bars ago.
Took the BO of whatever that was. Looking for 1:2. Will watch it close in case it stalls again.
Entry Long: 1.71814
SL: 1.71655
TP: 1.72078
Horrific price action. But that’s what I get for trying to trade within a pullback on a higher time frame.
After the third stop out in a row, I’ve decided to set up short on the 4 HR. More options to scale this way:
Scaling in and scalping the 5 minute chart on the way back down. It almost took out my stop again on the 4 HR. I certainly hope the pullback phase of this week is over with.
About break even for the scale-in trades. Trying it one more time at the top of the range
Reached just high enough to take out my stop and return to the tight trading range. Can’t lie. That one hurt, even though my position size was small. Got some work to do. Looks like more scratching and clawing this week too.
It looks good for continuation long, but the breakouts have been failing. Still in pull-back mode on higher TF.
I’ll definitely watch this thread. Good thing I found it early on! 
I feel you! Same goes with my NZDCAD chart right now. 
But I hope price starts moving so you get to rest soon! 
