EURGBP might be rising but its too risky going long at the moment as everyone and their mama can see that its going to turn soon and move in the opposite direction , some of us will just sit back and watch and wait for the reversal if we miss that then the breakout of the upward channel. What you are doing is too risky IMO , hopefully you are experimenting like this on a Demo
Yes, I know, that’s why I used only 1/2 of my risk. Anyway I had luck and make a very small profit. But it was a bad trade, I agree with you. It is better to see a well established downtrend and then follow it. I had luck, was bad trading.
I hate seeing now USDJPY going up without me on board… :mad:
Very strong break of the historical maximum. So I wait for price to go to the previous pause (or near) and see some good rejection. My bias is buying here.
No EURGBP opportunities yet, but I had this good trade on USDZAR right now!!. I put a target profit, I would have let it run… but, anyway, a good pinbar doing its job.
It is clear what I need to improve: LET THE PROFIT RUN. The most intelligent thing to do would be close 1/2 position were I closed, and let the other half run, with my SL below the tilted line. I need to improve that, I keep my trading very simple with a SL and a TP, and I would like to improve that using different profits or even different entry levels (not putting all my position in only one place).
New trade on EURGBP, now I have my position on BE and if the current candle closes as green I will close 1/2 position. My TP is on the buy zone.
Green candle, but pinbar in my direction, so I added a new position and moved my initial stop (SL1.1) to a previous resistance level (SL1.2). Both TP1 and TP2 are at the same position. The pinbar is a rejection of the black level (H4 level), it closes below it so It’s a good entry for me. Noise of H4 fill my entry point and let’s see what happens…
Well… my trade idea on the EURGBP was a very bad idea… a potential 5R or even more trade results in a 1,7R trade… I had a better result in my other pair, USDZAR: 4,62R. A fundamental was in my favour, but I don’t know what happened, I just enter according to my rules. I think I have a very bad website for fundamentals. I thought the only important one today was the FOMC.
It’s a good result: 6,32R… but my EURGBP trading was poor. I traded a pinbar in the middle of two important zones, and moved the SL1 too early. I don’t like it at all. I still don’t know how to add properly to a position, it is like letting the profits run, I still don’t know how to do it well…
New trade idea, on the AUDJPY. After a range in an up movement inside a bigger range, I look for reversal and buy signal. In the weekly chart I see how sell momentum was fading, specially after that big fundamental.
This trade is going really good. Pinbar signal just where I was waiting for it !!. So I put a buy order. I have closed 1/2 position at TP1, move my SL to BE and let it run to TP2. I have no data for EURGBP, there is some problem with my platform. So this is now the only position I have open.
I closed the AUDJPY complete position. I realized there is a strong level in D1 chart. My first clue was that big red candle with bear momentum (long up tail). Then I started to reanalyze everything again and saw the D1 level. So I closed all.
And here is the D1 chart with my new “friend” level that told me to close all my position:
Today I had this very good trade on AUDCHF, it is like the paradigm of my trading method. I put the comments on the picture. What I would like to improve is to let this kind of trades go, because I saw in the historical charts that a lot of these entries had a 15R-20R potential. So I have to work more on that.
Finally my platform works! I have access to EURGBP so I studied a bit what happened this days… (see picture). My trade idea now is a clear rejection of the buy zone, retest and buy signal to enter. Now there is a lot of noise. I need to see price doing clear and big movements, a sign of volatility. You can see that there were two good signals for a 16R trade.
I am also looking the AUDCHF pair. It has bearish momentum, but it is still not breaking a very important horizontal level. It was a resistance in the D1 chart twice, and was broken also with big momentum. I expect a buy signal on that level. This is the buy scenario. But there is also a sell scenario: that the recent strong move is a tramp of that level, price then breaks down, retraces back and gives a sell signal. The sell scenario is reinforced by the D1 pinbar of last friday. So I will wait for (a) very strong pinbar in the up direction… or (b) strong breaking of the level to the down direction.
Pinbar in the AUDCHF, but not very strong. Anyway I took the trade (I am trading with market money after several good trades). It has very good momentum, I think it will start showing weakness at the TP area, so I will close when the first selling pressure appears.
Price broke the TP level, so I trail the SL below that zone. My next TP is in the previous maximum. I have then a 4R realized if price hits my stop. I hope not 
I have open a trade on EURGBP, the pinbar formed above my predefined buy zone was my trigger. Now price has two obstacles. The first one was broken, so I put my position to BE. Now I need to see price broking the next obstacle. If the current candle closes below the blue line I will close 1/2 position. If closes above, I will move my SL above the 1st obstacle (lower blue line) and let price continue. BUT if any candle closes below the 2nd blue line after the breaking, I will close my trade.
Well, price rejected very strongly the obstacles, so I have closed the entire position. There were already three times price tried to go up but it couldn’t. I think there are chances it will go higher, because every rejection is weaker than the previous one. The first rejection gives you a big red candle. The second is a strong pinbar but price continues up with some force. And the last reaction is weaker, it has a smaller wick. I will wait until price breaks this area upwards, then do a pullback and then I will look for a buy entry signal.
EURGBP: price breaks the level, so next week I want to see price retracing to the level with noise, then a good pinbar to enter a buy signal.
I have opened a buy signal on GBPUSD. This pair has a very clean structure: a clear range. So the trade was very obvious, a pinbar in the extreme of the range. Enter in the 1/2 of the range, price fills my position and goes up. I put my TP on the other extreme of the range.
EURGBP pair has continued its upward move. On the weekly time frame, the pair has completed two strong price waves to the upside and a third is in progress. A piercing bullish candle formed last week seems to be an attempt by the bulls to push further upwards after a retracement two weeks ago and may target the gap created four weeks ago during the crash of the Sterling pound or at least the long tail doji created three weeks ago. Trade safe.
GBPUSD is going upwards. I have put my SL to BE after the first big bullish movement.
I also have a buy position on the AUDUSD. I tried to put all relevant ideas on the chart (those numbers are references to my trading journal, where I basically write the same things I am writting here. I strongly recommend to write your thoughts of every single trade, you improve a lot and on the weekends you can review what you did).
