Gold : +70 pips
GBPAUD : -22pips (Yesteday’s trade. Really bad one. Jumped in without any confirmation. It was my mistake more than news driven move)
GBPAUD : +40 pips
[B]Total 88 pips this week[/B].
Here’s the GBPAUD trade i took today which fetched 40 pips.
[U]Reasons to take Short position[/U]
Bias is down
BPC over the Support turned resistance level.
Exited the trade as it was friday and dint want to hold long for more pips.
Entry - 1.5373
Exit - 1.5333
Entered at the Red line and exited at the yellow line. White line is the SL.
P.S - To Nikita and all, why don’t we start posting our weekly/monthly trading result’s ? And also the trades we take using this method . Only this method. I feel it’l help us as well as newbies too. We can open other thread to discuss about the trades we take and make this present thread dedicated only for learning the trading method.
So what explains these violent bull moves in the markets without any news and in the Asian Session? Not normal market behavior right.
Or like Bob said the whole Euro zone summit thing?
Yes, euro Zone Summit outcomes… Positive optimism on the summit lead to to rally. One of them is the agreement to common bank supervisor… Below giving the Summit theme…
Guys… I don’t know how strong are these fundamentals. Don’t ask me why… No Idea.
Very nice trading. My end of week stats sit a 0. No trades taken. Nothing really called out to me. But now the Aussie is up pretty high I will be looking to short soon.
This post is on what i thought to be a range play on USDJPY. I was Looking for the bias to trade whereas i overlooked that it was a perfect setup of range play to buy at support (range bottom) and sell at resistance( range top).
If we have bought this pair today at the support (range bottom) we could have caught all that bull move. Damn i’ve missed it.
Nikita posted this method of range trading somewhere in the thread.
This is H1 chart. We can use H4 to get more clear picture. I just wanted to share how the range play could have been profitable.
My short has been open all night and has not moved. Dont even think I have covered the spread yet. I didnt think the RBA announcement was going to be a huge market mover but I expected something. Oh well still short and we will have to see but with Independence Day tomorrow and NFP this week I might be taking a loss on this one.
This is what I am seeing in AUD/USD 1H chart. The Red line is previous resistance not yet tested as a support. There is a rectangle and a Flag like Channel. Pair moves inside the rectangle and the channel but moving upward.
Need to break the channel for a rally. Hope you all noticed it already. I am bullish AUD/USD because of the channel and previous support. It may support the pair. Zoom in and zoom out for different time frame you can see a better picture.
See I can agree with this as my stop is 1.0315 lol
Salim there is only 2 things I see wrong with your analysis
1: It does not sit well with me shorting the Aussie into extinction
2: Does not agree with my bank account lol
Here again a chart. The green line is previous support date backed 05 apri to 24 april, see now. Pair just supports it with last three 4H candle. The blue line is next Resistance area. Which is at 1.0306. A short from 1.0306 will be a right decision. And a trade to the next resistance area also will be a good idea.
Who know it work? Just a prediction. Everybody here hate prediction and our system told us don’t predict. Any way keep an eye these levels.
