Damn, AU, GU, EU all plummeted. I was trying to wait for a bit of a pullback before entering, but it just happened quickly…well, I was able to get in AU and GU at the top of a wave…will post in a bit. EU however dropped all the way to monthly support line, so i will wait to see what happens with it.
I’m posting 5M charts so you can see the wave I referred to:
probably missed out on most of the move…hopefully it doesn’t go sideways or retrace on me!
Decided to close out these two trades +20 pips. I am too tired to watch them and this support level is also at 61.8 fib level…so I think that we may see a reversal back into the larger trend.
GU is the same, goodnight all!
Here’s why trading while tired is not the greatest idea…I had very small stoploss on both the GU and AU trades and could have let it ride overnight with relatively no risk…could have made more pips. But in my tired mind last night, I just needed to sleep and not worry about a trade…plus I saw signs of possible reversal. Next time, I’ll try to remember that the possible cons were small and the possible pros large…and set a TP instead!
Happen to the best of us but good job trading so far. Thats something I am trying to learn to set a tp instead of just closing out my trades.
Back in to AU and GU:
Trying to catch the top of a wave on both here…SL is about 20 pips on each, might decrease it…
thx for the support bob!
I changed my mind about both of these trades (AU and GU), and so exited them both with a couple pips profit. AU is showing a doji on the hourly and a reverse pin bar on the H4…just going with my gut here. GU had a dojish looking candle last hour and this hour retraced a bit…so, better safe then sorry I say.
I think it was the right decision to get out of GU and AU for the time being…not really sure what they are doing today…just kinda going sideways.
A little cluttered with support lines, trend line and fib, but here is my current trade:
Here’s where I wish I had gotten in…hopefully my entry will hold up:
Hmmm…I don’t usually trade UCad…but this setup looked good to me:
This is trade two for the morning (early morning at that!), but I want to get in some action before the weekend
wanted to post an update of the UCad trade…
after my initial post, i decided to set TP because i had to leave the house for a bit - and in doing so realized that i wanted to move my SL back a bit. i do not advocate moving a stoploss when your trade is in trouble, and at the time that i did this my trade was already positive. it is now retesting the resistance level at 1.0207, so i am glad that i had done that. but i will not move it further than it is placed currently, as i do not want to increase my risk.
my NU trade on the other hand is about 2/3rds the way to TP, i will move my stoploss to breakeven or beyond if possible and remove my TP so that i can continue to ride the trend as far as it goes.
damn…seconds before i was taken out…this is why i don’t trade you UCad!!! (fist in the air)
32 pips lost on this one. luckily i did a smaller lot size than usual because i already had one trade going, and plus i am not as comfy with UCad since i don’t trade it very often.
frick. stopped out on NU too. did i read these trades wrong? or is it just NFP volatility? cause i was up quite a bit in both of them at one point…have the opportunity to get back in at a better price if the volatility is over and i was right about the bias. but now i am doubting my analysis…love to get some feedback! looking to improve my trading here…thanks
i know what to do: stay out, because i don’t know what to do! :45: actually upon further reflection of the charts i think i am trying to pick reversals…when i should just focus on following the momentum.
Well, after a crappy trading day Friday, I was preoccupied with enrolling for school on Monday so didn’t even look at the charts until the evening for me. So, by then most everything looked like it was going sideways, so I didn’t really see anything worth trading at that point. Today I took one trade so far, on GU:
Think I got about 34 pips profit on it. Reason for entry, it had retraced to a significant level and was showing signs of reversal (such as pins, and dojis), and a sell was inline with the bias. Reason for getting out, it was showing signs of reversal…and I was satisfied with 34 pips.
yep thats a good read. You probably could have held out for more but profit is profit
Here’s what happened with GU after I got out (went back to my entry price and then dropped like a rock)…
so I could have stayed in, but my stomach wouldn’t have enjoyed the ride 
So, anyway Bob was right I definately could have gotten more pips on that one, but that is okay, because I saw a good set up on GBP/AUD and took that before bed last night…
Here are the results of the GBPAUD short…
130 pips! Biggest winner in a long time 
If it retraces up to the 1.4950 area I will look for another short opportunity…
Nice one, always good to break the 100pip benchmark in a single trade!
Another missed opportunity…ah well, on to the next trade.