12/04/19 USD/CAD SHORT TRADE 4H CHART [S786]
I missed my 12:30 4h candle check up and missed on about 10 pips on my entry, but there is still room for a 2:1 R:R on this Swing 78.6% trade
As you all might have noticed the AUD/USD and USD/CAD have been bouncing off 78.6%s in the daily chart. So I am placing my TP at the 786 of the last up swing and not my usual 127%
Markets have been incredible “choppy” and as it usually happens we can’t realise this until a few losses it is hard to change from 127 to 786 only to find out that your 127 & 168 keeps hitting…or sticking to 127% each time to find out it turns at the 786… Or to “exit & reverse” on each sign of candle reversal at the 786 or 618 only to see it continue the original way we were in (point in case EUR/GBP trades!)…
enough said?
happy trading
12/4/19 18:30 Update: S/L now at 1/2 unit risk.
13/4/19 9:30 Update: S/L now at Break Even 0 unit risk I am ready to move my S/L to b/e once the market opens. It has moved +1unit ie 1:1 and since i usually choose to take a trade that is at best 50/50 chance, I do so with the proviso I move to B/E as soon as the market has moved 1:1 or 1.5:1 in my favour.
Given the nature of the markets recently, I am opting for the 1:1 in this case.
16/4/19 Update: S/L Hit (0units)
13/4/19 COPPER 4H CHART SHORT TRADE [S786] -STAYING OUT UNLESS 3:1 OPTION
I will be shorting this commodity on opening. However, I am “BULLISH” on it. Yes contradicting, but I also feel it is still in the “choppy mode” which means possible bounces within the 78.6% fib.
So I am willing to take a punt if wrong then it will move out of the “choppy mode” into trending and we will have plenty of opportunities to join the Bull train since the “Range” from which it has broken off was 300 points, therefore we have about 250 points of upside from current levels.
15/4/19 UPDATE: I am NOT Selling Copper’s S78.6% because it only has a 2:1 opportunity. Since I am “bullish” on copper ever since it broke out of the monthly range I will stay out for now and wait for Copper to retrace to a 618 or 786 fib of the last up swing (as shown in green circle). However, I am willing to take the short if I can get close to 3:1 therefore I placed a Limit Sell Order at 15 pips risk for 42 pips reward almost 3:1
13/04/19 GBP/JPY: LONG KING CROWN [KC] TRADE SET UP
I will be looking to buy the Right Tip of this possible Bull King Crown in the 4h chart of the G/J
good luck!
TRADING WEEK END SAT 13/4/19 STATISTICS -15% (-5units)
Not a good week, giving back all of our profits from last week
Challenge to do much better this week!
Total Trades: 21
Win Trades: 4
Losing Trades: 17
B/E Trades: 0
%W: 19%
Average R:R 2.8
% Bank Increase: -15%
OPEN TRADES: 1
PAPER P/L: +0.8units
16/04/19 COPPER: LONG TRADE [FR61.8]
Going long on the 618 bull engulfing 4h chart of Copper. TP is the 162% (R:R 25:60). If it doesnt play up then I will be buying the 78.6%
I might however move my TP up as the market show signs of resuming a clear up trend since I have a 315.0 long term target for copper. If not then will let it hit the TP
17/4/19 18:30 Copper: now at B/E
18/4/19 17:00 Copper: S/L hit at 0units
16/4/19 AUD/USD LONG TRADE [FR61.8]
As mentioned in previous analysis, We are back on the Bull wagon with this cross at the Fib 61.8% retracement with 127 TP
17/4/19 AUD/USD Now at B/E
18/4/19 AUD/USD Closed at +1u Aussie has hit a Day Resistance and 127% Day Fib so I have cashed in.
16/04/19 COCO SHORT TRADE [RIS DIV + HANG MAN]
I am taking a punt on Coco once more. My earlier short entry was “rushed”. There was nothing in the form of weekly signals or RSI Divergence. Now we have three signals:
(1) RSI Div on Daily Chart
(2) Weekly Hanging Man candle
(3) Daily Engulfing Candle
Of course since I am bullish on Coco up to 2100 I will be exit / reversing this trade at the first sign of FR618 or FR786 with a day bull candle.
17/04/19 Update: Coco trade has been moved to B/E after a 4h Hammer and MS near 30% RSI. No need for further risk when trading “against the main trend”. Coco should’ve gone to the Day Fib 127% (1850) area, so there is still room for upside before coco finds a retracement period.
17/4/19 18:30 Update: Coco Trade Closed at +0.5u
18/4/19 EUR/CAD SHORT TRADE: [KC 61.8]
I entered short on EUR/CAD on the right tip of a king crown. This KC is visible in the 4h chart.
18/4/19 17:20 E/C at B/E
25/4/19 13:30 UPDATE: TRAILING S/L HIT AT +1.1U
18/4/19 COCO SHORT TRADE [4H RSI Div]
25/4/19 13:30 UPDATE: S/L @ B/E
27/4/19 S/L HIT (0u)
19/4/19 AUD/USD LONG TRADE [FR78.6]
Although AU has formed a Day Bear Engulfing candle at Resistance + 127% Fib Extension, and there is a chance for a Day Fib Retracement close to 71 area, I can’t ignore the fact that it has formed a Hammer at the 786 Fib which is also the last low. It didn’t close below the last Swing Low on the 4h chart. Furthermore, I am a Swing Trader and have to take on this trade. Despite of being Easter Holidays as well.
TP is the 127% 4h swing extension.
Anyway, this will be the last trade until after the break.
25/4/19 13:30 UPDATE: S/L HIT -1u
TRADING WEEK END SAT 20/4/19 STATISTICS +2.5% (+1units)
Not a great week by far but I take a winning week versus a losing week any day.
I have made major improvements however in the area of “discipline”. I only traded within my rules with only one trade that was “rushed” (coco first entry). A part from that I am happy.
Total Trades: 5
Win Trades: 2
Losing Trades: 1
B/E Trades: 2
%W: 67%
Average R:R 2.1
% Bank Increase: +2.5%
OPEN TRADES: 3 (one at b/e no risk)
PAPER P/L: +1.8 units
happy trading
25/4/19 EUR/CAD DAY LONG TRADE [FR62]
I just entered this trade at a possible Fib Retracement 61.8%. This is a “Day Chart” entry and as such it has the Day 127% fib as TP. I will as usual trail the stop.
27/4/19 S/L HIT (-1U)
25/4/19 AUD LONG TRADE [DB]
26/4/19 GBP/JPY LONG TRADE [DB]
27/4/19 At B/E
26/4/19 GBP/USD LONG TRADE [S79]
G/U has hit a 786 and formed a Day Doji as well as being at the 30% RSI so I have entered long on this pair
27/4/19 At B/E
27/5/19 COCO SHORT TRADE SET UP [TTR79]
I will be shorting coco on opening as long as it is at the current closed price or near.
29/4/19 COCO SHORT TRADE DAY CHART [TTR79]
As mentioned last week, I have entered Coco Short on this TTR79 (a.k.a. The Gartley 78.6% fib or King Crown)
TRADING WEEK END SAT 27/4/19 STATISTICS -5.7%
Not a winning week but I currently have two open trades at b/e plus one trade that is at +0.6units. I have been thinking that from here on is best to do this “summaries” monthly. I have re-established my KISS PRINCIPLE TRADING and I am happy with my discipline over the past two weeks compare to the disaster of the week prior to that! Furthermore since I am a Swing Trader, my open positions can take a week to develop or more, so it makes more sense to analyse results monthly.
Total Trades: 5
Win Trades: 1
Losing Trades: 2
B/E Trades: 1
%W: 25%
Average R:R 1.3
% Bank Increase: -5.7%
OPEN TRADES: 3 (two at b/e no risk)
PAPER P/L: +6%
happy trading
1/5/19 CRUDE OIL SHORT TRADE [WEEKLY SHOOTING STAR]
Crude oil hit a Right Tip or “D” point of a Weekly Gartley. However, the Weekly Candle “Shooting Star” requires over 200 points of Stop. So, looking in the Intraday Chart for entry, we have an Engulfing Candle at the Fib50%. This is not ideal, but I am happy to take the risk and look for a 618 or 786 entry if this trade doesnt play out.
1/5/19 EUR/JPY LONG TRADE [FR62]
1/5/19 12:00 S/L @ B/E
01/05/19 NZD/USD SHORT TRADE [FR50]