Sorry again for the lack of posting. About to post the trades for the week I have took. I usually like to do them live but just been busy with work and have started using a EA as well to keep catch a little more trades.
OK, trades for the week. Been a pretty busy week. None of these are from the EA, this is all from me looking at the charts.
AUDCAD : Well not a trade, but what I was waiting on. Won’t be taking it now since it’s too close to Friday for me.
AUDCHF
AUDUSD
CADCHF : A crappy setup that I got lucky on. Hit TP1 and SL was at BE.
CHFJPY : One I was hoping would break on up after a month of consolidation. Oh well.
EURCHF : Full TP
EURHUF : Escaped with some profit.
EURUSD
GBPJPY : Went down and retested before finally coming up to activate my order.
NZDCAD
NZDJPY : Stupid move here on my part, as strong as NZD has been this week. Not sure what I was thinking.
NZDUSD
USDMXN
USDTRY
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Woot woot. I remember before trading I looked forward to Friday and the weekends. Now I look forward to Mondays and sad on Fridays 
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Hey there guys, sorry for such a long delay in post. I will be posting more often now as I’m back from traveling for work. I have also evolved into trading more of price action and entering once price reaches a certain area with price action giving confluence. Rather than waiting on a candlestick pattern to give me an entry per say, but if I do get a nice candle I’ll enter off that as well. Not sure that makes since but I’ll post up some charts and give some examples.
Also add to the first post with my revised method to how I trade, not a big change or anything just don’t wait on a particular candlestick to enter. I will also enter once I feel like my trade idea has been validated.
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Here are the charts for this week so far.
Just a reminder.
Green Lines : Daily Support/Resistance Zones
Blue Lines : 4HR Support/Resistance Zones
Purple Line : Where I anticipate an entry.
AUDCAD
AUDJPY
AUDNZD
AUDUSD
CADJPY
CHFJPY
EURAUD
EURCAD
EURCHF
EURCZK
EURHUF
EURNOK
EURNZD
EURPLN
EURRUB
EURUSD
GBPAUD
GBPCHF
GBPJPY
GBPUSD
NZDCAD
NZDCHF
NZDJPY
USDCAD
USDHKD
USDHUF
USDMXN
USDNOK
USDPLN
USDZAR
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Ok follow up of my charts and how things turned out. Good week, but a lot of reverses after my TP1. Which hey, I’ll take what I can get.
Remember the pip values for exotics are different than the normal majors and crosses. And the purple lines are my anticipated entry. But enter only if the price action is looking good. Also some of the reasons I entered in trades are in the post above this one. These are the same trades just with them finished up for the week
AUDCAD
AUDJPY
AUDNZD
AUDUSD
EURAUD
EURCAD
EURCHF
EURCZK
EURHUF
EURNOK
EURNZD
EURPLN
EURRUB
GBPAUD
GBPJPY
NZDCAD
NZDJPY
USDCAD
USDHKD
USDHUF
USDMXN
USDNOK
USDPLN
USDZAR
Feel free to comment or ask questions, enjoy hearing different views and how others see the charts.
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Great stuff, thanks! The comments and markups on the chart are helpful.
Hi Alg626 i really appreciate your trading strategy based on price action
i would like to know how could i handle this type of trade.
I got stopped out after going short.
I don’t trade crypto so not sure it price action works the same for those guys. But price action should be price action no matter the instrument.
Just curious what were your reasons for going short? Just curious on why. I’m pretty sure I know the reason’s but just want your point of view.
Three trades I have opened up this morning.
Just a reminder the purple lines are not my marks for support or resistance, they are where I anticipate entries.
Green Lines = Daily support/resistance
Blue Lines = 4HR support/ resistance
CHFJPY
USDMXN
Selling pressure seems to run out the closer it got to my marked zone, then got a big EG candle. So took a entry at the top of that candle.
EURHUF
Selling pressure pushed right through my marked blue zone, then next candle placed alerted me so entered in.
i was waiting for a rejection around 48300 level after i got my confirmation with a bearish engulfing candle i take a short position. 1TP at 46200, 2TP at 45000.
but probably the reason why i got stopped is because i didn’t wait for a retest after the breakout of the 45k zone. actually it was better to retest around the 46-45k zone and go long.
please let me know what do you think! ^^
Seemed to be good logic, sometimes what looks like a good setup just doesn’t go how we think it should. I see the candle you entered in after the rejection off the resistance. How did it go later on today?
A few more trades I entered during the day while at work.
EURCHF
Hit TP1.
EURHUF
Hit my stop.
GBPUSD
Entered too soon on this one, emotions got me here. A little more patience was needed.
USDCAD
Hit TP1 than stopped out at BE.
USDZAR
after i got stopped out price consolidate around 47000-48000 zone and breakout above and after a while hitting the 50k level.
i was waiting for a fast retest at 48350 level in an intraday tf (1h). but i didn’t feel confident to take a position because it didn’t reach the level that i’ve marked, the price was too far above.
now i’m waiting for a rejection at 50k level targeting 48350 and then a possible retest at 45000.
let me know what do you think, i’m still a bit struggled about my risk to reward, i think that i’m risking too much if i take a position in the 4h tf. my RR is about 0.7-8 for the first TP.
Good Morning everyone, here are a couple more I have entered this morning. At the end of the week I’ll do a post with charts recapped and see how the week was.
EURNZD
Had a nice rejection off my marked zone plus with the pair being down on the year so far. I entered a short position.
USDCAD
Same thing here really nice rejection off my marked zone with an engulfing candle, entered a short position as well.
USDHUF
Price reached my anticipated entry, have entered a long position here.
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Just a thing to remember it’s always easier to go with the trend then trying to predict when it’s going to turn. If I’m looking for it to pivot the other way I do mostly wait for a pin bar or engulfing candle. Those seem to give good entries and signs that the price is turning the other way, along with looking at the whole picture and at good support resistance zones.
But lately I try to go with the trend and not stress over when it’s going to turn, I mark my zones and look to take profit there. And then wait and see what’s it going to do at the new zone, If it pushed through I may enter again going the same direction but if it struggles and then I get a good pin bar or EG I may enter going the opposite direction we just came. Hope that makes sense, I’ll get a chart posted explaining later these afternoon.
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Hello sir!!! Remember me!!! Been a little/long while, I started using the strategy, and it works like a V16 engine, so I started with every pair containing the USD(at first), it made it easier to take trades,(since the USD moves in a single direction) and not trade against myself (eg.going Long on GBPUSD and going short on EURUSD, or going long on gold, and short EURUSD, marking the zones were easy, (I zoomed out on my h4 TF and simply placed the lines in obvious places with multiple bounces/rejection,I also made sure to always hit TP or SL, I like it when it hits SL, (it reminds me that am not invincible, and I don’t move to BE cos the market tends to retrace b4 moving higher, so, most times it’s either TP or SL,since you did multiple backtest I knew the strategy was profitable,all I had to do was HONE it and make it mine, after I decided to scale up and draw the remaining zones for the remaining pairs offered by my broker, a week after that the zones got wiped off from my charts, (I think lack of space on my phone(I don’t have a PC), and then I fell ill, so for the past three weeks I didn’t take any trade, I decided to resume yesterday, so I drew the zones for all the USD pairs first, and this time I opened a cent account, so I could feel the emotion of live trading, and then i remembered this thread, I came here and saw that my first two trades were also taken by you, GBPUSD (also got stopped out) and USD cad(still running currently), I felt sooo happy cos it gave me a sense of being on the right track, so once again, thank you for sharing this strategy
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