My Price Action Trading Strategy

I haven’t taken any profits on it yet, it’s just above my entry. My first TP is 147 pips.

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Another I entered tonight.

AUDCAD

Gotcha my bad… you closeout all trades by closing time on Friday’s?

Yes the accounts I have are their original ones were they don’t allow holding trades over the weekend. They do now have an account(cost the same) that you can hold over the weekend. The only other difference is the leverage is 30:1.

Which as far as leverage goes if you ever had enough trades open to get margin called you would probably violate the daily drawdown limit first anyways.

Another trade I’m looking at if it sets up ok.

EURHUF

Also an update on the journal mid-week.
Remember the grey areas are the same trade, just a break down of where I took some profit at TP1 then and the second line is the remaining position.

  • If the pair is colored gold: means it is still active.

  • If it’s colored gold and there are no notes: means the trade hasn’t reached TP1(that’s why there are still 2.0lots shown) or SL yet and is unprotected.

  • If it’s colored gold and there is a note: means I probably have reached TP1, so I closed some of the position(why you see 0.66 lots or 0.33) and the remaining 1.34 lots is still open but with the SL at BE.

Majors/Minors

Exotics

Metals/Oil

Nice my man, keep compounding that account baby!! :moneybag: :moneybag:

Nah, I withdraw each month at profit split time. Once you reach 10% growth of your account every 4 months they up your account balance to trade with by 25%.

Now I could keep money in the account and have a bigger max drawdown but it doesn’t change my daily drawdown. So there is no point to me in keeping money in it.

oh i see now, gotcha. well keep raking in those W’s big homie… USDCAD right at 1.23 now

oh by the way, did you see the first Bitcoin ETF came out yesterday? Its $BITO

No, don’t know anything about it. Lol. I don’t follow any ETF.

just interesting that they came out with an ETF for it. wonder if they’re going to do that for more crypto now… Futures/Forex still the best though :slight_smile:

USDCAD finally bounced. right under 1.23. at least for now lol

USDCHF looks like nicely wound up spring before short

Ended up closing higher, but I have already took my profits from that one. But it looks like it’s on the way down still.

Which direction are you anticipating it going? Or do you place orders on both sides ready to catch either direction? Just curious.

Waiting for short just below the recent pin bar.
It crawled for few hours on 0.9185 and when demand pushed the price higher, there was immediate reaction from supply side to push it back.
If it can’t go up… :wink:

It may also form a cup with a handle for long, but I don’t consider this scenario at the moment.

nice rejection at .92

I think if it closes below 0.9180 take a sell. Where would you place a stop? Just curious and trying to get you to think, and have conviction in your trade.

I took a sell already few pips below the pin with SL 3 pips above pin high. TP around .915 and move to BE in the halfway.

If GJ cant hold 157, I’m gong short. Target will be 156.5