GBP.USD & EUR.USD - Proof of Profits Verified

[BaconSandwich]

Bollocks - GU smashing higher - a pity the order was not triggered. That’s this week over for now.

Orders to come over the weekend as usual for week 6/52.

[midwest]

My coupons worked ok well today but all my trades closed with FOMC, need to start over but maybe after I take the rest of the day off. Over 1.01% equity gain today, was stressful.

Next time I’ll need to move my tak profits a bit further out.

[BaconSandwich]

Over 1.01% equity gain today, was stressful

Congrats, it wouldn’t be half as fun if it was easy, right?

We were close on the GU long, but no cigar this time - it happens

27 hours left until the order is removed for this week - it’s quite clear what S&R range I was targeting.

[peterma]

Bollocks - GU smashing higher

A trick of the light - watch Eur/Gbp

[BaconSandwich]

ha, and where was the

reasonable chance of 2980 on cable.

It’s all confluence, but in this case driven by the rate change which was more than unexpected

[BaconSandwich]

Update EUR.USD Week 5/52 :

So i’ve taken a discretionary long position in EU [chart provided below] - it’s one of those opportunities that arises after a rather substantial move during the week in question; not to mention that this week has been akin to basically watching paint dry on my kitchen wall. There’s been very little movement day on day, other than the Fed rate move which took place yesterday, and it’s this that i’m fading in the trade which has been placed at around 50% of the rally that took place on Wednesday.

So far it’s not too bad, price has stalled at the level which was market out, although the London open to come will provide far more of an insight into what’s to follow.

4H Chart - Thursday Evening GMT

So far price is respecting the level marked out - however with NFP later today everything can change very very quickly.

4H Chart - Friday Morning GMT

• Retail positioning suggests that we’re looking for a bull run with 83% of traders short.

As always the specific details can be seen on the link provided in the first post.

[BaconSandwich]

Tracking spread on the Tick Charts to see exactly what NFP brings - this should be a good example to new traders here who ask why they get stopped out when “price hasn’t even hit there level”

This is the set-up to record the movements in spread, min and max for GBP.USD and EUR.USD

[midwest]

Bacon, the EURUSD and XAUUSD has treated me well this week. Especially this NFP.

[BaconSandwich]

EUR.USD, really? it barely moved!

[midwest]

I am learning to scale or fade in as price action allows me to add position-leverage. It is working out ok.

[BaconSandwich]

So during a rather subdued NFP with little movement in the EU and GU majors the spread was recorded tick by tick. The results,

GBPUSD : Min of 0.2, Max of 5.7
EURUSD : Min of 0.2, Max of 3.1

Personally, i’ve seen much higher in both pairs, but I’ve also seen NFP really effect price - not so much this time around! Starting to reminisce the good old days with 200-300 pip bounces on NFP news.

[BaconSandwich]

I am learning to scale or fade in as price action allows me to add position-leverage. It is working out ok.

I see, well i’m glad it’s working out for you - I’m on the higher TFs looking for moves in the region of c.1% of a currency value. It’s a patience game over here…

[midwest]

I do that as well, and trade the 2% deviation, these days I have changed that to 125% deviation.
Two accounts one for scalping and one for longer term, helps me keep track of things.
I will still scale in when a trade is going well.

[peterma]

Hmmm… didn’t make the 2980 in 2 days, so what are the chances in the next 2 days - likely je crois.

[BaconSandwich]

I couldn’t agree more, just like it going the other way also. But I’m not into potential pricing, I’m into trades being triggered within the time period I’m interested in. perhaps call it rolling time based analysis, of a better phrase.

If it doesn’t hit in the next two days then maybe two days later, or two days after that, or a month later… you get me? That’s not what I’m interested in, to put it nicely.

edit. a lot of my analysis is based on prior or prior prior week movment, so if the level I’m targeting is not hit within the current week then it’s void. But, that’s not to say that the following week might also happen to provide a key level that overlaps the prior weeks key level even though it wasn’t hit.

it’s all about adapting, and rolling with the new and most current price action.

[Rickster99]

What’s going on?! this thread was about your Sunday calls and now you’re discussing random stuff and discretionary trades. Please either stick with the thread or just say you’ve changed it to random trading. That way, I know to stop following. Thanks

[peterma]

now you’re discussing random stuff

Wont speak for Jezz, maybe you are an accomplished trader, but have you ever noticed in life how much can be learned from the random?

Since the thread title includes GBP here’s a random thought:

(Chart by seasonalcharts)

[BaconSandwich]

Note: As always there are exceptions to where a trade may be entered. An 'at market’ trade may take place and will be shown on the live account. Although rare, it’s something to consider if you follow these signals

As you’ll see here I’ve clearly stated that in addition to these calls at the weekend I may indeed enter into midweek trades based on current week activity. These are also clearly listed in this thread when they take place. If it’s not for you then there’s plenty of others to follow.

This week was exceptionally thin on movment, so I’m not going to sit here like a duck waiting to be shot.

[BaconSandwich]

4th February - Week 6 of 52 - posting date Saturday 2nd February (Super Bowl tomorrow…)

• EUR.USD Week 6/52 4th Feb - Long position at 1.1401,0 - 2% Risk, 40pip SL and 86pip TP for a potential 4% gain. BE as soon as P&L >50pips

• GBP.USD Week 6/52 4th Feb - Short position at 1.3123,0 -. 2% Risk, 60pip SL and a 126pip TP for a potential 4% gain. BE as soon as P&L >100pips.

Note: As always there are exceptions to where a trade may be entered. An 'at market’ trade may take place and will be shown on the live account. Although rare, it’s something to consider if you follow these signals.

Also please notice that the first 4 hours of trading from market open do not apply to these orders - they become active at 04:00 GMT+2 Monday morning.

[BaconSandwich]

that’s really interesting @peterma, I’d be interested in looking into that in more detail and seeing if there are any underlying key seasonal drivers.