I am trailing the SL for my GBPUSD signal. Price is breaking the D1 level, so I’ll wait. If the current bar closes above the level then I will keep my trade open. If not, then I will close. I have already a 4R profit in my account with that stop level.
The AUSUSD trade is still open. I want to see price breaking the H4 channel (black dashed lines). Anyway, I will move my SL after this candle closes, so I have a 3R secure profit on this trade.
Things are going better for the British pound at the moment. The fears of the consequences of a Brexit vote to pull out from the EU has gone down measurably among traders. And the new British Prime Movement is taking things calmly for now.
Closing my positions…
AUDUSD made a retracement after the first impulse. Then price went up again and a big candle touched my SL (blue circle). It would be more intelligent to put my SL to BE and the TP in the recent maximum for a 6R profit instead of half of it. But, I need to improve on that, too… 
GBPUSD was as expected: it completed the range, and even better, broke it, a signal of bullish momentum. So I expect a retrace to the buy zone next week. I closed when the candle closed below the level as I said.
I made a new buy on the AUDUSD. I was a bit afraid because of price being just below a strong resistance. But my bet was that this was a breakout (higher minimun on D1 with pinbars) and price could go higher until the big weekly support zone. So I put my buy order within the first 3rd part of the pinbar (I wanted to make a sure 2R profit if price started to make a reversal pattern on the resistance zone (thick blue line). Finally price started to do what I wanted, my trade is still open, I am trailing my SL. I have a secured 2R but I expect some reaction tomorrow so probably I will close before my TP is hit.
Well, AUSUD is going so good that I am a bit afraid… I added a new buy position. Now price is hitting a D1 resistance area (is the previous spike on D1 chart). If price closes below that area, I will close both positions. If price break that area I will move my SL below it. Let’s see how EEUU elections affects markets (I am very curious about it).
I close my two trades on AUDUSD before the EEUU big fundamental of today. that is a 17R profit.
Eur/Gbp continue its consolidation movement around 0.86 level, break below immediate support zone 0.8565/60 would open the door to further downside.
Hello!
EURGBP as csc2009 wrote, is going down. There was a false break upward and that’s for me a signal for bearish momentum. I expect price to go higher until the resistance and then look for nice pinbars to enter short. I think now it is doing the pullback.
I have now a sell on USDZAR. Price is inside a weekly range. So it was very obvious. After a first reaction of the up level of the range I took my trade and now I expect some reaction in the middle. Price was moving very fast recently so I expect this trade to last… 2-3 days? anything can happen.
I think my USDZAR is going to BE, let’s wait… I put my SL to BE after the indecision area (you can see a big doji there). Probably a better idea would be to close the trade just after the strong green candle after that indecision area?? Anyway, I have my position protected.
I missed a very good trade on AUDCAD. I draw dynamical levels, so when I saw the pinbar, knowing it was good signal for a sell I didn’t take it because of the dynamical resistance. It was a very small profit for me. I was wrong, the horizontal levels were more important and finally this pinbar is making a 10R trade.
Finally my USDZAR went to BE. I was hoping (WRONG!!!) that price would go down again. Insted of being emotional, the better idea would have been to close the sell order in the pause zone price made in the strong up move.
Keep up the good work, interesting thread.
Hello!!
Well, USDZAR is working according to my analysis. After a TRAP (price getting the SL’s above the level) I saw a new pinbar (strong rejection of the level) and reenter my trading position. I used the same pinbar of last week for my entry and SL levels. On the D1 chart you can see a very strong pinbar, so I hope price to go lower this week.
After trailing my SL to an area behind a H4 level, price started to go against my trading idea and hit it. That is a nearly 4R profit. Don’t know if this will be a small or big reversal, and I don’t want to do the same mistake again and get a BE trade waiting and hoping price to go on my direction. This is one of the thing that bothers me more: if now price does a small reversal and then go again in my direction… I will miss a 7R or even a 15R movement. Probably this is normal and I am being greedy about it.
I am reviewing my trading, and… I don’t like it. I am doing scalping on H4 and missing the major part of D1 or Weekly movements. Even monthly movements.
I trade too much. My idea of good trading is 2-3 trades per month. I think the problem is that I trade the H4 noise. My entries are pinbars on H4 on D1 levels, that’s ok. But when trailing my stops or putting profits my goals are some level or candle on H4 that… it is nothing! but noise!!
Example. On EURGBP, I put a sell order, trail my stop and get a 3R trade. Ok, not bad.
BUT on the D1 chart you can see that there is a 25R potential profit, with the same entry!!
So I am thinking of using H4 only for my entries, and using D1, or weekly chart to follow it. I need to analyze it a bit more. I need to write a trading routine that works for me and gives me those big trades.
Don’t know, just my ideas about my trading. I don’t like how I trade, with fear and closing too soon and trading too much.
I have a buy on NZDUSD. My last trade on this pair was a BE. There was a resistance area near the entry point. Now my entry has more room to move, so I hope price to go up until the same resistance zone. I have my TP there (that is a 6R). There is an obstacle at 4R (now price is there) so I will be watching carefully what price is doing here. If this candle closes below this level probably I will close 1/2 position and put rest on BE.
This trade has something I see in much of the very best reversal pinbars I trade: on the D1 a strong previous move, then on the H4 chart we see two waves (U or inverted-U shaped). If you put the RSI you can see also divergence, so the second wave has less momentum. This second wave is the place where good pinbars occur. Usually they are located on the external band of the bollinger band indicator (with sigma=2.5), with the wick spiking out of the BB.
This one I missed. It is another good example of a perfect entry, this one with some SL’s before price starts moving in the desired direction. You can see how the indicators gives you the entry: pinbar spiking on the external BB + 2 waves + strong previous movement on D1 + divergence on the RSI.
Week started with USDZAR breaking an importante level. This is what I wanted really but I closed my trade too early (I am trying to figure out how to avoid this). So I expect some pullback to the level so I can reenter with a short position.
New trade on USDCHF. My idea is that price on the weekly chart has a breakout structure so my bias is buying. You can see also on the D1 chart a strong fundamental in the same direction. And on the H4 I have the usual pinbar on a level and the structure is a retest of this area. My SL are so close that price almost touched it, but luckly it did’nt. So now is a 7R trade, I will follow it the rest of the week. If my SL had been touched, I would reenter the buy trade. So I would have a 6R or 5R trade insted.
The EURGBP is trying to pullback to the 0.8600 level as shown on the daily chart. From that point, the pair may try to go back down. The bearish trend is still in place.
This is my analysis for EURGBP:
On weekly charts price made a false break so my bias is a down movement until an horizontal level.
On the D1 chart you can see an important level where a recent pinbar was formed. So this chart gave me the zone where to look for pinbars on H4 (my trigger candle) to enter shorts.
BUT… I had no good signals for entry on H4, so I have no positions here.
You can go to H1 or M15 and I am sure there are good pinbars there. But I don’t trade those timeframes (too much noise).
