Re-entered this short trade.
Closed my remaining positions including EURUSD, EURJPY and NZDJPY long trades which I was unable to post, for [B]+78.6pips[/B]. Current balance: [B]$65.05[/B].
Long gbpjpy 178.89. Cant post chart dont know why 
Long gbpusd 1.4755,
Long audusd 0.7658
Long nzdjpy 89.35
[QUOTE=“BagzPips;689370”]Long gbpusd 1.4755, Long audusd 0.7658 Long nzdjpy 89.35[/QUOTE]
Ouch.
I would be curious why you took those trades.
Hi mastergunner99. I am buying the swing support at 1.4738. So while the trend is currently down, I am anticipating a reversal or strong buy here.
Long audjpy 92.68
Long eurjpy 128.77
[QUOTE=“BagzPips;689383”] Hi mastergunner99. I am buying the swing support at 1.4738. So while the trend is currently down, I am anticipating a reversal or strong buy here.[/QUOTE]
Wouldn’t it be prudent to wait for the reversal to actually happen and then hop on board?
Yes mastergunner99. From my standpoint, on the gbpjpy daily chart for example, 3 swing low support levels have been established close to each other, which the market bought up from and is just retracing to these levels for the first time. Additionally, sellers have been stalling at these support levels for the past two days. This is the confirmation for my entry.
Wouldn’t the confirmation actually be when price in facts move in the direction you want it to?
My point is that you’re trying to guess the market and attempting to get in the best entry possible, but you’re putting more at risk then need be.
If you’re trading on a daily, you know there’s plenty of pips to be had. So why not be patient, minimize risk, and optimize your performance?
Hi mastergunner99, No I am not guessing. However, I do appreciate your advice to be more patient with my entries and in effect optimize my performance. Thank you, I will work on that!
[QUOTE=“BagzPips;689442”] Hi mastergunner99, No I am not guessing. However, I do appreciate your advice to be more patient with my entries and in effect optimize my performance. Thank you, I will work on that![/QUOTE]
Okay you’re not offhand guessing. It’s more of an educated, perhaps even logical guess.
I’m with you in using support and resistance swings to look for entries, but it might be beneficial to look at them more as signals. And then plot a limit entry at a point you’re comfortable knowing price was moving in your direction.
Yes mastergunner99. I am trying to move more towards limit entries. And I will definitely spend more time planning the trade entries and reduce my risk.
what’s your reason for going long here?
Hi mistermappy,
I am trading the support and resistance of swing lows and highs. In the case of the gbpjpy, there were four intact support levels on the daily chart holding since last Friday. So I took the long once price revisited this zone. Additionally, the h4 swing support was proving strong.
I dont know why I cannot post any charts. Trying to post a link or something
Dont know whether babypips is having a problem today. But I can neither post and attachment nor a link.
I am having the same problem. The website has some bug i guess. Anyways, you planning to just scalp it or hold it long-term?
Ohhh I see. Thanks for letting me know! No not scalping mistermappy. Looking to hold towards 182-182.50. Will see how it behaves near 180 if it gets there.