All week there has been no co-relation between the three amigos.
AU EU GU
What’s going on here…
I think it big money placing there bet and putting it all on red (after all it is your money anyway there risking). Awaiting the outcome of the summit. I have been out of the market all week and no intentions on trading till things get back in order
I thought before the week started that it is going to be a tough week to trade. I should be very picky If I trade… but NOPE did not do what I thought.
Did trade and now I have a loosing week.
Atleast, I cut my risk to bare minimum. So, it doesn’t hurt.
I had only two trades this week!!!
One on Gold long two nights ago, and I bought EU yesterday early morning 2 or 3 am my time when the second H4 candle started to do a pullback.
Gold gave me 130 pips. EU gave me close to 60 on one position and 40 plus on the second that I took a little later.
I think I am done for the week.
Two trades per week. This is a new record for NikitaFX!!!
My personal best was approximately 48 trades n a single day. 
Sometime back, in a situation like today, I would have been looking at the chart with eyes wide open even after taking a profit for the day, looking if I can re enter a buy.
That, or I would have moved my SL to maybe about 30 pips and held out for more.
And I am sure everyone is familiar of the outcome of those trades.
I would than spend the entire night up, scalping the Min 5 and Min 15 chart to atleast recover what I lost.
This is not how trading is suppose to be. If it is, than this is not how any sane person would want to make a living out of.
Look, if you dont see anything concrete, walk away. Ignore the urge to predict. To take a gamble.
Only enter when you know what its going to do.
Than too, enter with a healthy respect for the risk you are taking.
Many went long based on price levels today and the UK Session burned them. Everyone I knew were on a long trade. Some who are very cautious decided to get some pop corn and stand on the side, watch what happens.
Those who got burned are not breaking into a sweat because the healthy respect towards risk that they have adopted along the way.
If you are trading price action, than you cannot avoid picking your entries. Some show up very clearly. Some like today, are a hit and go.
This is very different from someone who trades a system based on a combination of indicators. They take every trade that shows and their SL and TP is per system. They dont think. They just trade. Good proven systems have an edge to ensure that a profit is turned at the end of a trading period, say a week, a month or even quarterly.
So a system and PA are the same, as they both have their dos and donts. But PA traders must refrain from entering what they cannot see clearly, as opposed to a systems trader who just enters because the system is saying to do so.
I am going to turn off my trading platform now as I think I should strive to keep myself from taking a gamble, or predict or worst, add undue stress to my trading.
No entry? Well go do something else.
No trades for me this week. I thought I was going to be slick and leave a pending order but I think after todays price action I have been denied. Oh well if you cant beat the guys on the sideline join em. Thats where I will be till Monday. Happy hunting everyone
WoW, 48 trades in one day down to 2 trades in a week.
Believe me, I am working on doing just that. As of now when I take about 5-6 trades in one day I think that’s a lot and I stop trading. Also, If I loose two trades in row I cut my risk to half on my next trade.
Oh well, I am about to complete 7 months of educating myself on trading. I think I have come a long way from where I started.
Nikita
Where was your entry in EU yesterday. EU had a range of only 58 pips yesterday If our charts are same.
So, wondering where was your entry for 60 pip profit.
Words that deserve to be highlighted, underlined, made larger, bolder and brighter!
After a few hard fought years I’m slowly starting to understand the wisdom of waiting for only [B]clear and obvious set-ups[/B]. Makes for a nicer looking P/L too! 
Great advice Nikitafx, thanks!
[/B]
My entry was right at the bottom of the H4 pullback. Its 6 candles from the current, where price stalled and a small bear candle formed. The SL was 15.4 pips.
And I stand corrected. The total haul for the first position was not 60 pips. It was 56.8 pips.
Please dont ask me why did I TPed where I did. I normally very rarely hold through Asian session and today was an exception. It was 11 am my time and usually from about 11am to 2 pm, the markets tend to be flat. So I half dozed and half awoke infront of the Laptop at 10.50 am and I looked at total pips on both my accounts was about to hit 100 each in total. I waited for the hour to be over and I closed all 4 positions at 11 sharp.
I have to thank Bobmaninc for more than a few pointers.
My trading celibacy is coming to age after watching what he has been saying about waiting for the setup instead of chasing our tails.
Thanks again friend.
Honestly say,
I took three trade this week. All profitable. Those are 26/06/12 sell NZD/JPY 12 pips, yesterday buy EUR/USD 13 pips and today EUR/CAD 54 pips. First mentioned two trades closed by fear. I took all based daily candle. Today’s best one.
If we trade based on Daily candle. It is not a problem though.
Thanks I have learned a few things from you to. So I must say thanks for the opportunity. This has been and still is a great thread.
Hello Nikita, Im posting the charts of EU H1 and i have marked the area where you have entered long.
Am i right in assuming you entered long cause the previous day candle was a Indecisive bar off the support level or is it cause of a range play as we can see in the charts ?
1.24749 was my horizontal line on D TF. That area was used as a support being tested previously.
Today is Thursday ( as far as the trading candle goes ) and if you see tuesdays candle, it looked like price had stalled. On the following days candle, I found a nice pullback candle on the H4.
The main reason I went long? 15 pips SL on H4 chart. It will definitely give atleast a 1:2 Risk to Reward Ratio. When you look at it in this way, the question of is it a up or down should not arise at all.
But the whole thing worked out beautifully for me cause I decided not to get greedy and I got out just a few hours into Asian session.
Mind you, I had marked my TP on D TF and H4. It was at 1.25843. I decided that if its north bound, than I will get another entry to reharvest the pips.
I guess it was a blind call that turned out as a good call.
pay attention to that pullback candle on H4 for a long signal. Than observe the candle next to it.
Often, on H4, we get this sort of formation. The trick is not to trade the H4 new candle opening but to wait for a much smaller SL. When you find this sort of candles that try to retest the low, you can significantly take higher risks because the SL is negligible, and secondly, on trades like this, you can be assured that you would be in profit very quickly, minus the whiplash.
Try observing how the next candle opens, retests the low and than slings forward. It happens on H1 also.
I will help AmanFX and Gs8888, 
Same as Nikita I took long EUR/USD last night from the pin bar that nikita mentioned. See the pin bar printed just above the Strong support i.e 1.2440. See the red small pin bar that shows my entry. From the low of the red pin bar pair moves almost 60 pips from last night to today morning (Dubai time). I closed with +12.9 pips due to fear. Everybody talking EURO summit, trend reversal etc.etc… Chart given below.
This is today’s EUR/CAD trade given below.
According to Nikita’s system if yesterday a sell then you should looking for sell. But in EUR/CAD yesterday candle shows a Pin bar not only that but a Strong Resistance area i.e 1.2818.
If there is a pin we should look for 50% retracement to enter the trade (I learned it from Bob). When i looked the chart from my office the pair almost hits the resistance area, immediately I went for a short and put TP at 1.2750. Again Due to fear I closed at 1.2758 with 54.1 pips. Below the chart.
Now the pair almost break the resistance area.
happy pippin traders,
Good luck
Again today EU daily candle closed above support area i.e 1.2440. This support is very strong. What you guys think?
Possible buy signal? Will the pair go north to the immediate reistance that we can see around 1.2550?
Today is Friday, so becareful. Your analysis might be spot on, but if enough players in the market decide that they rather have their money in their account compared to being left on trades open over the weekend for one reason or the other, than the market will do opposite of what its suppose to do.
I am driving to the capital today so I wont be looking at the charts until US open.
Good luck to you guys.
All the losses recovered and now in profit for this week with this one trade in AU.
Entered right at parity.
So, I got out with 85 pips. My target was just a little more then this.
Saw this huge bull candle and got out at 85. It is good to end the week in profit.
AU went for more then 150+ pips.
However, what happened here? All these pairs shot up.
I don’t see any news that came out either, or am I missing something here?
mmmmm… EU shoot up beyond the resistance area… But a missing trade. Lol…