EURUSD Real Time Trading

EURUSD reached a PEAK @ 1.19081 and is currently trading around 1.1865x (it has come down around 40PIPs)

I am betting this downward momentum will not develop into a BEAR TREND. So the counter is still BULL and may resume BULL rally anytime

So I am BUYING EURUSD @ 1.186xx (the ‘xx’ indicates 4h and 5th decimal places can be anything) with the following parameters
TRADE-1: BUY EURUSD @ 1.1865
CUT-LOSS @ 1.18000
Profit-Target @ 1.1908

Now the RISK vs. Rewards is 43PIPs Vs. 65PIPs.

For those who prefer 1:1 then place LIMIT ORDER @ 1.1852 instead of entering @ SPOT

Is there any reasoning why you’re ‘betting’ it wont develop into a bearish trend?

I have been observing a specific pattern that market does during TREND REVERSAL and this instance that pattern didn’t happen

Of course market can do whatever it does. That’s why I set the CUT-LOSS @ 1.18. So it all comes down to which one market will hit first? The profit Target or CUT-LOSS?

I am going to document up to 10 trades (as and when trade setup emerges) and see how this ‘pattern’ influences market course

Trade No.1 is still open

Trade No.2 is USDCHF and it has comedown from its PEAK of 0.9233X and currently trading at 0.918XX Level and I am betting it will resume its BULL TREND and will breach the existing PEAK. I only have DATA on EURUSD (I used to trade only EURUSD and encouraged by the reliability of the pattern I was talking about earlier, I am using this forum to document other currency as well) so I am going to go LONG with 100PIPs CUT-LOSS. This trade is only paper trade and I am not betting any real money here. So here are the trade parameters:
Counter: USDCHF
BUY-SPOT @ 0.918XX and Take Profit @ 0.9233X and CUT-LOSS @ 0.908XX

Trade-1 the EURUSD hit the STOP-LOSS. So it is 65PIPs Loss
Trade-2 the USDCHF is still open

Trade-2 USDCHF : According to my chart it touched 0.9215 and it went down to 0.9199X Level.
Now if it breaches 0.9215, it can do two things

  1. It can continue to go up and breach the existing HILL @ 0.9233x and hit the profit-target
  2. it can reverse direction and go down and breach the existing BASE @ 0.9148x. So I must make the CUT-LOSS @ BREAK-EVEN and it would result in 0 PIPs

Since my TRADE-1 is already loss of 65PIPs, I am going to set profit-target @ 0.9215 that would set me 35PIPs profit for TRADE No.2.

So TRADE No.2 Profit-Target is changed from 0.9233 to 0.9215

While Profit-target can be set with some justification, cut-loss is entirely arbitrary. So DATA is generated on the DRAW value which will guide the future trade’s CUT-LOSS level

It may makes sense to wait for Fed meeting before betting on EURUSD direction. Volatility will likely be high before and after FOMC decision so short-term targets may be risky.

I took a long today on the EUR/USD. Out of one position with 40 pips profit, the other position will be left on with stop above break even.

Good luck and good trading to everyone.

Nobody in the Eur/Usd today?

I made 5% on a sell yesterday. Not in it right now(I am in a EURCHF trade(buy) that I have taken some profit from an the rest is risk free)


1 Like

Very good entry hope you will repeat your success in next trade. By the way which broker are you trading with?

Thanks! CBT Limited is the broker.

Trade No.3
Counter: USDJPY
Trade Setup: BEAR-TR Possibility
Trade Parameters: SELL-STOP placed on 15-SEP 5AM CEST @ 109.50 and CUT-LOSS @ 110.50

Any traders getting in on todays action in the Fiber?

Trade No.3 - USDJPY - SELL-STOP @ 109.50 triggered @ 15-SEP 8.10am CEST and market went up to 109.10. The profit target is set at 100PIPs (108.5). Trade is in progress

Trade No.3 - USDJPY - SELL-STOP @ 109.50 triggered @ 15-SEP 8.10am CEST and market went up to 109.10.

Update on 17-Sep 4:43am CEST

  1. The Valid BEAR-TR is now VOIDED by market. As of now the loss is around 30PIPs
  2. Since it is a valid TR, I wait for market to comeback and BREAK-EVEN the Trade. So the profit-target is now set @ purchase price of 109.50
  3. Of course the market doesn’t have comply my wish so the CUT-LOSS is unchanged @ 110.50
  4. The purpose of this thread to test out my theory over 50 trades. So let’s wait and see what happens to Trade-3. Will the market hit the CUT-LOSS first or Re Adjusted Profit-target first?

Trade No.4
Counter: GBPUSD
Trade Setup: Invalid BEAR-TR. Betting BULL will resume anytime
Time: 20SEP, 7:06am CEST
ENTRY Parameters: BUY SPOT @ 1.37069 CUT-LOSS:100PIPs Profit Target: 100PIPs

Trade No.3 - USDJPY
Update on 20-Sep 1422Hrs CEST
Market reached around 109.4xx and triggered the BREAK-EVEN Profit Target

It was a valid BEAR-TR and when market voided it came down to BREAK-EVEN the trade which is consistent with the previous pattern on other counters. From this point market can continue to go down and breach the previous low of 109.103 and bounce up. For it to resume BEAR RALLY instead of bounce-up it has to produce 1 more signal and I’ll be on the watch out. The fact that I suffered -65 on Trade No.1 made me to to EXIT at BREAK-EVEN instead of setting profit target to the previous low of 109.103.

Here is the summary of all the closed trades thus far: