Trade started on a range. I’m biased to uptrend here
Short on kiwi started with this move
Trading an small range on eurchf
Canceled the order as the price broke the bottom of the range and invalidated it.
Shorting the kiwi yen because price action tells me that it wants to continue selling
Trade stopped out, the price reversed to resistance, and is bouncing there. I will be waiting to see if it can break support to entry again
While I was distracted the kiwi received news, that rocketed up the price and stopped me out on everything. But it happens to stop the move on a longer term resistance, that I’m taking on nzdusd and nzdcad.
nzdusd
nzdcad
Closed the trade on NZDCAD with nice profit, because it was very near the target (only 5 pips) and market is about to close, I don’t want to risk 62 pips for only 5 pips.
Letting NZDUSD running for the weekend, and taking half profit on the other one (NZDUSD) just for the same reason.
The pair continue the move down. I moved the remaining of my position’s stop loss to a good place, now is a risk free trade for that part.
A new trading zone was created, so I’m placing a new pending sell.
Price didn’t retraced to that level, so I deleted the order. Now it has created a new trading zone, and I fine tuned the open position and entered when the price signaled that a continuation is being started. Moved the stop of first position to lock more profits, and added a new trade.
The prices continued the move up, I closed early and start waiting for a new entry on the market. The first order is still in profit.
Today in the morning I analyzed the market, and found that the sentiment was looking for risk. Then looked for interesting currencies and found that the USD was strong in relation with everything, but it has been strong for extended time, while the loonie was neutral.
I looked at the usdcad pair and it was starting a downtrend, so I looked in more detailed view, and found the market structure and price action to support a sell. Placed it and everything was ok.
I’m waiting for a trend continuation or a new trend on NZDJPY. I will be monitoring this unless other thing changes
I have the hypothesis that the USD has been strong for so long, and the loonie is starting to pick up power. I see this daily red candle, that closed doing a new near term low (breaking a zone of support), so I’m looking for a retracement to 50% of the daily candle to place a new trade if conditions are met.
Trade finished. What I was expecting worked
I’m trying to trade the range on GBPCAD, while it is inside the specified range. I will be trading bounces until it breaks outside.
Range failed, the price went up, and touched my stop loss. In the post-mortem analysis I think that the range was not very well defined, because it was testing the upper part, but not the bottom part. For next time I will verify that there were at least 2 test on each parts of the channel.
Yesterday I was expecting a swing high on cadjpy, and then the retest of the support. While the retest, the price moved strong up, so I used a smaller timeframe to look for an entry to buy, that was about 50% of the daily candle, a speed entry for me.
So far the price is respecting the support.
I closed this too, because it has been there a lot of time without doing anything, the levels to break for reaching my target were so strong, and there were better pairs with loonie that are moving faster, more fluent. There is the resistance at 83.00, the latest high at 83.11, and I think the pair can’t break that levels on this Friday. Next week may be different, but for today, the risk is not good for me. Went out at break even.
I’m looking for today a short to euro long to loonie. I see loonie stronger than euro on average. I’m waiting to see the price go up to test the last resistance, or an lower time frame entry.
Price retraced to the resistance, so I placed a sell on it, lets see what happens in the next hours. On this trade I broke one of my rules, I entered a market order, instead of waiting for the price to retrace and test the resistance. I fall prey of the FOMO.
Closed half position because I started feeling bored that the price stalled. The price then started moving because I didn’t checked that the Asian market was about to start. That was an error. I promise myself not to do that again.
Finally I closed the rest of the position, because it is Friday, and I don’t want to be on this trade on weekend. I don’t want that because I see there are not enough reasons for this pair to continue down, so I don’t want to take the risk for that small amount of pips.
Bough CADCHF because it was in an uptrend on daily view, with strong CAD and neutral CHF, and in a nice support on H1. Target is at a high on D1
Closed early CADCHF because all the related pairs started moving against my position, and the last candle was very strong agains me too. So I decided to reduce my exposure there and close early.
Placed a sell on EURCAD because euro is weak, loonie strong, price was bouncing on a resistance. Used small position because it is a little more risky because the resistance was a minor one. If price breaks my stop, my next entry will be around 1.44
Trade stopped out. While the setup was valid, the break down was confirmed and the entry was good, the price was very far away from the MA20 on D1. That trades are risky, and so I used smaller lot. I will wait now for a retrace to a higher place.
Sold EURJPY because euro is weak, and yen is very strong in all time frames I check. It made a new lower low, and returned to the resistance. I placed the sell on the touch of the level
Trade stopped out. The price went up until next resistance. What I think I did wrong was entering the trade before it was confirmed, as I used M15 to enter, the confirmation of support break should be stronger, and in H1 it was not a valid break. I placed a new trade on the bigger timeframe breakout, because the pair is good for trading, and the fundamentals are good too.
Placed a pending sell on nzdjpy, because weakness on kiwi and strong yen, if price retraces and test the level I will enter the trade. Price is far away from the daily MA20, so I’m using small position there.
Placed a pending sell on nzdcad. The pair moved down, and created a new zone of support/resistance. The kiwi is still weak, while the loonie is neutral to strong.
I’m trading the EURCHF, because euro is weak and CHF neutral to strong. Also it created a trading zone.
Take profit touched, trade closed
Sold NZDCAD because it made a lower timeframe “failure” to continue the trend up. This is a risky trade because all the kiwis went up. The price started going up, broke the first resistance, then tried to break the second resistance, made one push, then a new push higher, then tried to do a third push, but it failed to go higher, and then broke the support created on the first push (all on M5)
Also the price was bouncing with the MA20 Hourly
Same pattern on NZDUSD
And hourly
