USDCHF - This one retraced and triggered my SL. Small gain, no loss.
USD could be active in a few mins with news events on the schedule.
could be, i m looking long on UJ for now, i am long on 5m with the 4hr and 1hr in mind…we ll see how it develops. stopped out at BE, of well, i ll keep watchin
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USDCAD 4H - Price is testing this S area for the 3rd time. Will it break through, or are we looking at a trend reversal?
My daily chart is showing the next S level at 1.303. R at 1.334.
My 2 test trades using Supply & Demand Zones, had I stuck with them they would have played out in the end. But I closed them both due to market volatility. So in other words…I chickened out!
USDCHF:
This entered back into my D Zone overnight. I never got that long order placed because it all happened while I was asleep.
USDJPY:
Wild ride! My TP was almost hit on the 27th at 9am, then continued back up and would have nearly stopped me out, just to shoot back down into my D Zone.
Technically, S & D Zones are not supposed to be used more than once (exit then reenter), and this S zone was used twice. This certainly wasn’t a textbook play and might not even fall into the S & D strategy at all. But it did work out in the end.
don t beat urself up about it lol, it has been a week when little made sence, and i m talking in terms of vsa, wyckoff point of view, but many systems or market aproaches failed. look at yesterday for example, gold had a 600 pips run on stops, those who sold and those who bought were killed, and some other pairs same stuff…its in days or weeks like these that the difference between a retail and a pro is made. if u can manage to get out at a small loss or BE in times like these, i call that a win. cheers
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Agreed, thanks for that.
I got stuck long on Gold before it tanked, but I held onto it and one is in profit now.
what s that, straddle, butterfly effect? u was lucky dude imho.
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Closed both, I’ll take the small profit. I don’t trade Gold very often, I like to stick with currency pairs.
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go with the probabilities rather then hit and hope, stick to what gave u some constant results thus far. don t take this the wrong way, but this career is way more difficult then say, becoming a lawyer or whatever else, atleast imho. so to stay alive to fight another day is already a huge accomplishment, but to do that u have to stick with something and don t stray from that(that s what leads to consistency). sure u can test, forward test all kind of stuff, but do it with paper money first. ofc this is just my opinion, so take it with a grain of salt.
cheers
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I agree with you 100% here. I’m sure anyone who knows me here knows I’m a bit of a cowboy when it comes to my trading style. I will have to eventually buckle down to 1 or 2 strategies and settle in for the long haul.
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EURNZD Daily - This pair hit a weekly R level last week and has been falling fast for the last 3 days. It’s currently at a strong S level which it could easily blow through. Price will likely retest this level next week. I see a good long term opportunity whichever direction it decides to go.
GBPAUD Daily - Price has been ranging between two strong S/R levels for a month now and is currently sitting on support:
Looking at the weekly chart, price bounced of a monthly S level in July and with the overall trend being up, could be headed to the 1.865 area, which is another strong monthly SR area.
I posted this 10 days ago along with this Chart:
I wasn’t too far off, it hit 81.590 before dropping like a stone:
Remember this chart?
Seems obvious which direction it’s going. Big money here, right?
SELLERS BEWARE because that could also be what “they” are thinking as well. “They” being the big banks, market Gods, algo systems/programmers…whatever you want to call them.
I’m not a conspiracy theorist but in this business sometimes you need to think that way. I’m not saying don’t sell, but be prepared for some volatility at this level. Be prepared for a price spike while “They” potentially push price way up to get all those SL’s.
If I had read this post a year ago I would be saying “what is this crazy guy talking about?”, but I no longer rule anything out, and this crazy guy just might save all you retail traders a buttload of money.
I hope I’m wrong, but you can’t deny the sheer number of people looking at this level with dollar signs in their eyes.
USDCAD
We are there:
CAD is still going strong. This could be part of the reason CAD is strong today:
U.S. drug company Novavax signs deal to supply 76 million doses of possible COVID-19 vaccine to Canada
