[QUOTE=“medisoft;491666”]
Hi! Yes, i live in México city. I love playa del Carmen! If you can and like lobster you can visit a restaurant in Cozumel island called “la mission”. There are fresh, delicious and cheap lobster! If you also like avocado, their “guacamole” is also excellent.[/QUOTE]
I do love both. However, this place is too gorgeous for me to leave it. Or perhaps it’s my company. 
My analysis for today!
[ol]
[li]AUDUSD bias short. It is making a retrace, but not on a support for me. The last bar is an inside one. I want to see another bullish candle to move my stop.[/li][li]EURNZD bias long. Price retracing after touching a resistance. Want to see another red candle to move my stop.[/li][li]NZDCAD bias long. Price is doing what is expected. My entry was not very precise, but if the price now breaks and close above 0.8371 my entry could be a good enough one.[/li][li]EURUSD bias short. Price seems to be making a retrace. Not moving my stop[/li][li]GBPUSD bias long. Price is consolidating. Waiting for signals to know what to do.[/li][li]NZDUSD bias long. Price bounced on a support, that also is the D point for a harmonic pattern. That point also is confluent with a up trend line, so I’m buying.[/li][li]USDCAD bias long. Price is bouncing on a resistance but made a higher high. Will see what happens today.[/li][li]USDJPY bias long. Price is bouncing on the Fibonacci extension at 127.2 %. I expect a retrace to maybe 99 or 100 level and then a continuation. I hope so, but if not, I’m buying if the 103.63 level is broken.[/li][li]AUDCAD bias short. Price is in a retrace mode. I’m going to short the pair once the retrace shows signals of being over. If price closes below 1.0038 I’m going to short it.[/li][li]AUDJPY bias long. Still inside the triangle. AS I said before, I’m waiting for a close above the triangle to buy it.[/li][li]AUDNZD bias short. In consolidation. Looking at historic chart, I see that it is very nicely inside a downtrend channel. And once it gets to the bottom line, it bounces up to top line. I think I’m going to exercise my patience and wait until it bounces on the upper trend line.[/li][li]CADCHF bias short. It bounced nicely on the upper trend line and retraced very well. It is now trying to break the support at 0.9407. Two penetrations to that level shows good amount of buyers, but a down gap (27 pips) shows that there are more bears in the field.[/li][li]CADJPY bias long. Waiting for a good entry signal or a break above resistance.[/li][li]CHFJPY same as CADJPY. Also showing a triangle pattern that could be also a pennant one. Maybe 20 days more in the consolidation range before breaking the pattern.[/li][li]EURAUD bias long. Waiting for my entry signal or a break above 1.3206.[/li][li]EURCAD bias long. Spotted also a big triangle or pennant formation that reinforces my buy. I think it is very good time to buy it.[/li][li]EURGBP bias long. Consolidating in the lower end of my up trend channel. It seems to have a pennant pattern and I think the pair can drop up to 0.8370 before continuing the up trend. Who knows! I found that my stop is inside the limits of the pennant, so I moved it out of that range. Now I have 3 support levels behind current price and my stop, also the lower end of the trend line and the end of the pennant formation.[/li][li]EURJPY bias long. Currently in a consolidation. Not moving my stop.[/li][li]GBPAUD bias short. Friday’s candlestick is very appealing for a short. Yesterday’s is also appealing but small. I think I must remember to have patience because I’m tempted to short it right now. I think I will going to short it tomorrow if it closes below 1.5527.[/li][li]GBPCAD bias long. Price is moving very well to the north.[/li][li]GBPCHF bias long. Price is on the top of my channel, very near to a resistance and not able to break above the upper trend line. Also bounced on the 127.2 % extension. I think this time is not good to buy the pair. Maybe a retrace to 1.46 will make it attractive to me.[/li][li]GBPJPY bias long. Making higher highs. I see a rising wedge pattern, strong resistance to go north; I think I’m not buying the pair until it makes a retrace.[/li][li]GBPNZD bias mild long. Making a retrace. Looking at biggest picture I see that maybe my bias is wrong and this is not a long, but a retrace. Based on this, I’m moving my stop a little below previous day. Making a log of my toughts really helps! if I had not posted this line then would not have decided to move my stop. But because I see that it is an strong reason, I moved my stop just below previous day low. (using visual trading tools from MT4!)[/li][li]NZDCHF bias long. Previous candle was a nice green one on a support and lower end of my channel. I’m buying it.[/li][li]AUDCHF bias short. Almost done with the head and shoulders pattern also closed below the triangle. It was rejected by a support but still managed to close below the triangle. I think I’m going to wait a little more to decide if move or not my stop.[/li][li]NZDJPY bias long. Trapped in a range between 82.7 and 84.8. I see a small higher low that could be the start of the bullish continuation, but it could also stay inside the range. I’m waiting.[/li][li]USDHKD bias long. No signals to move my stop.[/li][li]USDMXN bias short. Price seems to be bouncing on the middle of my channel. A inside bar pattern, could be a continuation of the smaller up move or a reversal of that small move and a continuation for the downtrend. Waiting for another candle to see what to do. Meanwhile, I setup a short if the price closes below 12.27[/li][li]USDSGD bias long. Price seems to be bouncing on the top of the channel. Very nice! I hope it retraces to 1.2450 and give me a good opportunity to buy it![/li][li]XAGUSD (silver) Bias short. Price bounced and was rejected by 22 level. A very strong rejection I think! It moved up to 19.98 before being rejected, so that is 200 pips rejection. This could signal the end of the downtrend, but who knows! I’m waiting for a move up and then a retrace. Silver seems to move faster than currencies.[/li][li]XAUUSD (gold) Bias short. Price bounced on 1335 (the expected price drop after Cyprus news) It made a higher low and that could be the bottom of this down trend. I think my bias on gold and silver will change soon.[/li][li]USDCHF bias long. Bouncing on the top of my channel. Waiting for a retrace to buy it.[/li][li]BRENT (oil) Bias long. Price action tells me that maybe my bias is wrong. But I need a stronger signal to move my stop.[/li][/ol]
Thanks for all the information. Replying to subscribe.
Hi! I found this link where there are the indicators to help with fundamental bias.
Global Economic Indicators - Federal Reserve Bank of New York
On all charts in single document you can see the indicators. Also on the summary you can see that GDP for US is “stable” around 2 % while industrial production seems growing and unemployment decreasing. The consumer price index (inflation) is about 1.5 %, and the short term interest is near zero while long term interest is near 1.5 % and decreasing.
With this information I should say that USD outlook is stable and in a mild up trend.
For Japan, the GDP is in an uptrend with wild swings and right now is near zero but it is positive. The industrial production is also stable at about 90. The inflation is negative, so it is deflation and the unemployment is low and decreasing. The interest rate for short term is near zero and long term is at a low 0.5 %.
With this information I should say that JPY outlook is stable and neutral. Adding that BoJ is trying to increase the inflation to 2 % I see good reasons to think that Japan’s economy is stable and growing, but the Yen is going to be weak for long term.
For Euro zone, GDP is negative and in downtrend. The industrial production is also negative and in downtrend, the unemployement is growing fast and furious and the inflation is decreasing. The interest rate is near zero for short term, and near 1 % for long term.
With this information I see a weak Euro, with bad outlook.
With this three pieces of data, I think the general bias is short euro and yen, long dollar.
What do you think?
Mastergunner …what are your takes on USD/CHF and GBP/USD this week?
Some days without posting. MyFXBook has had problems synchronizing my info; I was forced to use the EA Updater to get my data and trades again on it.
This are my thoughts for today 
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[li]AUDUSD bias short. It continued its downtrend but it is on a support. If it fails to break support in a couple of days with some reversal candles, I will move my stop[/li][li]EURUSD bias short. Some up moves made some people ask if this is a short, but I see that moves as simple consolidation and still see it as a short. Stronger USD, weaker EUR, good for shorting.[/li][li]NZDUSD bias barely long. The price action is telling me that it could be ending the short term downtrend, but it also could break all supports and close below 0.8000 level. That would trigger lots of stops and cause the price to go down. But also I see at bigger picture, the price action, with confluent harmonic pattern and also support from previous lows and my up trend line make me think it is going to be OK for a long.[/li][li]USDCAD bias long. Previous days I moved my stop, but the price managed to close above it all the time. It made only a single red candle and after that two green ones, that made that red one look like a simple pullback.[/li][li]USDJPY bias long. My entry point is very near! Price is showing some support at 101, and fundamentals has not changed, so I think very soon I will see my entry on yen pairs![/li][li]AUDCAD bias short. Just placed my trade after a big red candle.[/li][li]AUDJPY bias long. The triangle pattern was broken for a short, and the price is currently on a support and lower trend line. Want to see a close above 97.89 to buy it.[/li][li]AUDNZD bias short. Just placed my sell on it, will see in some days what happen.[/li][li]CADCHF bias short. US Market was closed today, that is reflected very good on this pair. barely moved. Price action signals a possible correction here, but main trend is still down for me.[/li][li]CADJPY bias long. Price is almost there for my buy. Will see in a couple days.[/li][li]CHFJPY bias long. Still inside its triangle, and wondering where to go. The triangle should be broken within 10 days, and hopefuly it will be for a buy.[/li][li]EURAUD bias long. Price is moving nicely to the north, no signals for me.[/li][li]EURGBP bias long. Price is moving up, but it is infront a resistance. Will see in some days.[/li][li]EURJPY bias long. Price is making a correction. Japan news are good enough to make strong stock market and weak yen. I don’t see enough reasons to move my stop here.[/li][li]GBPAUD bias short. Price is outside my channel with a small grave-doji candle. I think I’m going to move my stop if this candle’s high is broken.[/li][li]GBPCAD bias long. Slow move today. Want to see a strong up move pretty soon or this pair could be only a bigger time frame correction to previous down trend, making me to move my stop.[/li][li]GBPCHF bias long. Well, price is almost on the level I want to see to buy. Today’s candle is attractive for a buy. If it closes green, I think I’m going to buy it.[/li][li]GBPJPY bias long. Making a correction. Want to see a support with a continuation pattern to buy it.[/li][li]GBPNZD bias long. I want to see a close above 1.88 pretty soon to confirm that this is indeed an uptrend. If it fails to do that move by Friday, I think I’m going to move my stop.[/li][li]NZDCHF bias long. Price moved down pretty strong! Enough to make me move my stop some pips below previous day low.[/li][li]AUDCHF bias short. Current candle shows a strong support. Moving my stop to protect profits some pips above previous day high. Locking +220 pips[/li][li]NZDJPY bias long. Making a correction. Want to see the support and a continuation up to buy it.[/li][li]USDHKD bias long. Moving high slowly but surely.[/li][li]USDMXN bias short. I’m going to short it if I see 2 red candles in a row.[/li][li]USDSGD bias long. It reached it’s upper part of my channel! And bounced there very nicely! It is great to see a pair respecting a well defined channel, makes me very confident to place a trade on a lower part of my channel after seeing a bounce. Will wait for some time (maybe 2-3 weeks) to see a retrace to a better entry price for a buy.[/li][li]XAGUSD bias short. Price is still showing support. This is expected and I think the silver is going to reverse soon. Will see![/li][li]XAUUSD bias short. Price is still showing support. The fact that it made a higher low makes me think this is about to change my bias, but still waiting.[/li][li]USDCHF bias long. Making a retracement. It is on it’s 38.2 % retrace, that could signal a good entry point for a buy and maybe a text book like swing. Will see tomorrow! Also, it made an harmonic pattern, with D point at 161.8 % or 0.9768. The retracement for this pattern should be at least 50 % , that could be 0.9545 and that’s the point where I’m looking for my entry. I will wait for a continuation pattern on the uptrend before placing a buy.[/li][li]BRENT bias long. On a support. Waiting for a break above 102.76 to buy it. A close below 101 will change my mind on it.[/li][li]EURCAD bias long. Price is moving very nice to the north. It just broke the triangle / pennant pattern. That could trigger lots of buys that will move the pair fast and furious to the north. It could also go to the south to bounce again inside the triangle, but based on my bias, I’m not moving my stop.[/li][li]EURNZD bias long. Some candles that could be signaling a top, but they are appearing in an empty part of my chart, so I’m ignoring them. I want to see candlestick patterns on key levels, and this is not the case.[/li][li]NZDCAD bias long. Price is wondering where to go, waiting.[/li][li]GBPUSD bias long. Want to see a break and close above 1.52 to buy it. Just because it seems to be making a strong correction that could be also a continuation of previous downtrend. Also, If I see a strong move down 1.50 I will change my mind and short it.[/li][/ol]
medisoft, thanks for keeping the thread alive with your awesome analysis, it’s always much fun to read and compare with my own. Keep it up buddy!
Medisoft do you keep any stats on the individual pairs? like your win rate on each pair? I’m just curious about your win rate on some of the weirder ones like HKD and BRENT vs the major 8.
Market analysis for today!
Big number of floating pips here! Not as big as previous trade account because I have not enough yen pairs un my favor, but nevertheless, this is beatiful green! Also equity is at nice 6.79128 % floating profit from initial deposit! The equity vs balance chart at myfxbook looks good, but there is still too soon to celebrate 
Well, this is the analysis!
[ol]
[li]GBPCHF bias long. The pair moved some pips above my entry, and now is making a red candle. I think this is a good buy, but only time will tel…[/li][li]USDMXN bias short. The pair has moved too strong to the north! Good time to change my USD to MXN, I think, but not too good to sell the pair, so I’m waiting for a signal, the price is on the upper part of my downtrend channel, if it is going to respect it, it should make a reversal pattern soon; I will short it when I see that pattern, or if it continue north, I will reassess my short idea.[/li][li]GBPAUD bias short. Well, it is not too good, a bullish continuation pattern is forming. If it materializes I will move my stop! Also, checking previous day notes, I think if this pattern continues, it will break the high of the gravestone doji and will be the right moment to change my stop.[/li][li]AUDCAD bias short. It made a bearish continuation pattern (well, it is in the process) will continue with this pair![/li][li]AUDUSD bias short. Oh yeah! it is moving down! continue that way baby! hehehe. Next support is 66 pips below, so if today’s candle close at this level, it should continue another 66 pips or more.[/li][li]EURUSD bias short. I think the euro is going to be trapped in a range for a while, but fundamentals say (to me) that euro is weaker than the dollar, so my bias is very bearish on this pair![/li][li]NZDUSD bias long. Waiting for a move. It is still in the lower part of the harmonic pattern that marked the low in my chart. It has not violated the recent lowest low, and thus it is still valid buy for me.[/li][li]USDCAD bias long. Moving strong to the north, continue that way baby![/li][li]USDJPY bias long. Well, I just bought it. Fundamentals say that the dollar is stronger than the yen, and the yen is going to be manipulated to be weaker (or maybe the weakest of the majors) for some time, I think that long term traders should focus only on long trades on yen pairs.[/li][li]AUDJPY bias long. Price closed above my entry point triggering my buy. Will see in a couple days what is price action telling me![/li][li]AUDNZD bias short. The pair is continuing its downtrend, no signal that changes my mind about it for the moment.[/li][li]CADCHF bias short. The pair is retracing a little (at 50 %). This could be an opportunity to short. My entry was on almost the top of this move, so my short is in profit for some pips. I’m not moving my stop on this, but looking carefully for a north continuation signal.[/li][li]CADJPY bias long. The pair just triggered my buy! It seems that the yen pairs are starting to look attractive for a buy. Only time will tell, but for the moment I have various yen pairs added to my portfolio.[/li][li]CHFJPY bias long. Price is still trapped inside the triangle / pennant. Still waiting for a breakout.[/li][li]EURAUD bias long. Strong moe up after a retrace, currently is the highest high for a long number of days (about 388 days highest high). If it close at this price, I think it will continue strong to the north for a while.[/li][li]EURCHF bias to define. It is starting to look attractive; I will look carefully to it. I have some worries about it is being manipulated. It should work for long trades but not for shorts, because the bottom is capped.[/li][li]EURGBP bias long. Currently in a resistance, but I think it will break soon. Will see this week, I think, because there are enough news to move both euro and pound.[/li][li]EURJPY bias long. Topped with a resistance, but with the fact that other yen pairs are making higher highs, I think it is only mater of time to break this resistance and continue its uptrend.[/li][li]GBPCAD bias long. Moving slow but continued to the north. No signals to move my stops.[/li][li]GBPJPY bias long. I see that it is moving north, but I don’t trust on the move. I think I need more proof that it is really the buy move I’m expecting. I also have some exposure to the yen now, so I think I will hold me from buying it for a while. Also, based on the correlation with eurgbp, where pound is weaker than euro, I doubt that the pound will be better than the euro in this case.[/li][li]GBPNZD bias long. The pair is inside a triangle, that looks very symmetrical. I think I will see a breakout of that triangle before next Tuesday.[/li][li]NZDCHF bias long. Support levels are holding, and my stop has not been touched. I expect it to continue its move up, but only time will tell. Not moving my stop, it is in a good place for me.[/li][li]AUDCHF bias short. Inside the downtrend channel, it is finishing it’s retracement. This is an early trade, because current bar is not yet closed, but the channel is too well defined and the down move has been very consistant, so I think it is worth the risk.[/li][li]NZDJPY bias long. It is inside a triangle / pennant. As you know a pennant is a continuation patttern. The end of the pennant falls very well on my up trend line, so maybe another 1-2 weeks of range trading for the pair before a breakout, and the breakout should be to the north.[/li][li]USDHKD bias long. Moving slowly to the north inside the channel, it is working good.[/li][li]USDSGD bias long. Near the 161.8 % extension. I’m waiting for a retrace to buy it, but this seems to be too strong that no retrace will happen. Nevertheless, I will not buy without a retrace, too risky for me.[/li][li]USDCHF bias long. Just bought the pair. Previous day move was a powerful green candle that bounced on the 38.2 % retracement and that signals strong trend.[/li][li]EURCAD bias long. Moving my way without telling me other thing.[/li][li]EURNZD bias long. Moving my way. Recent support is holding, and next resistance is +300 pips above, green future for this pair, I think![/li][li]NZDCAD bias long. Hesitating about where to go. In smaller time frame it seems at an small bearish harmonic pattern, with target just on my trend line. That is well above my initial stop, it is just like noise for the size of the stops I’m using. A close above 0.8410 should make the pair skyrocket for a while.[/li][li]GBPUSD bias … no bias. This pair is trying to trick me. I don’t play that game! You are bear or you are bull, but don’t pretend to be a sheep! hehehehe. Not doing anything until I see a clearer signal.[/li][li]BRENT bias long. Waiting for the move I expecting the breakout to the north within 14 forex days. Anything can happen in such a large time, so I’m going to stay alert on it![/li][li]XAUUSD bias mild short. Don’t call me an oracle, but I think it has hit the bottom and is about to reverse. Because I’m not an oracle, I’m not doing anything on gold.[/li][li]XAGUSD bias mild short. Support is holding, huge and recent pinbar tested it and failed to close below. The price is attractive, near the 3 years low. I’m thinking about buying physical silver coins at this price to complete my collection! I’m trying to make a collection of Mexican Liberty Ounce from it’s starting year to today! It is difficult, but when I got some repeated coin, I save it for a while and sell it for bitcoins![/li][/ol]
After analyzing EURCHF I found some type of pattern. Previously it skyrocketed, then retraced in about 3-4 swings up to the 78.2 % retracement, and continued the uptrend up to 114 %. First retracement wave was up to the 50 % level, and currently the retracement formed for this wave is at 50 % level also. If history repeats, the pair should retrace up to 78.6 % and then continue the uptrend. The bottom is capped, so there is not too much risk for the downside, and it seems good point to buy. So I’m placing a buy on the 78.2 % IF the price opens below that level and closes above it. Will see what happens!
I have myfxbook page (check some pages before to find the link)
Note that I started trading this way since begining of May, so there is not too much stats nor enough history to say anything.
But I think that heavy traded instruments are good for this methodology, and I also think that stock indexes should be good addition to my portfolio!
Problem is that on the account that I’m using there is not the availability of stock indexes, and I don’t want to start a new account just to add them. I think that with 34 instruments I have enough work for the moment! hehehehe
Hi, this is a really wonderful thread. Just finished reading it after 3 days and I am very impressed not only by the methodology, but by those who tried it and got the hang of it. I believe the best trading style should be simple.
Anyway, I was just wondering if anyone tried pyramiding with this diversified portfolio method. If so, how do you guys adjust the position sizing?
[QUOTE=“Monochrome;495796”]Hi, this is a really wonderful thread. Just finished reading it after 3 days and I am very impressed not only by the methodology, but by those who tried it and got the hang of it. I believe the best trading style should be simple.
Anyway, I was just wondering if anyone tried pyramiding with this diversified portfolio method. If so, how do you guys adjust the position sizing?[/QUOTE]
I’m not sure what pyramiding is lol but.
I use half the position size the original author and others use. Once price has moved in my favor by my original SL size I enter again if another signal comes up. It’s worked out for me so far. It’s actually the ones I’ve added too that move in my favor the most. The AUD and NZD lately.
Optical Fund System | Myfxbook this account…pure awesomnesss in making!! Owner is not mastergunner99 himself, is he?! Doesn’t matter anyway. You betta make it feller, coz this strategy I might use if I fail by some chance at mine (which has some similarities to this one), but requires more “chair time” due to my exit strategies application. Anyways,…later!
The analysis for today!
As you can see there is a reduced amount of floating profit both in pips and money. Also one trade was closed by the stop for -162 pips. Anyway, the current equity is above my deposit and I just started the account, less than 20 days (or only 15 forex days) ago.
[ol]
[li]AUDUSD bias short. Made something that looks like a bottom, with a pinbar on a support at 0.9600. Going to move my stop to lock profits some pips above previous day high.[/li][li]EURUSD bias short. In retracement mode, at the 61.8 % retracement. This could be a very good entry for a down continuation if this continuation is real.[/li][li]NZDUSD bias long. Two tests to the supports, failing to close below that levels could be what signal a continuation for the up trend.[/li][li]USDCAD bias long. Making a retracement. My trade has profit locked by the stop, so this is a free trade now.[/li][li]USDJPY bias long. Retracement in progress, nothing to worry me at this moment. I expected this move, so it is all ok and fundamentals has not changed for the yen and the usd.[/li][li]AUDJPY bias long. Currently in a support, at the 61.8 % retracement of a bigger swing. The same thing that is making the USDJPY pair staying down, is what is causing this pair move also. Once the yen continues the negative move (remember that BoJ is devaluating it) I think the pair is going to go up again.[/li][li]AUDNZD bias short. It made a small retracement.[/li][li]CADCHF bias short. Wow, it is making very nice down moves. Current value is at the 112.8 % extension of previous swing move and that level commonly is not very strong. Also I see a support there (I think I’m going to start writing support or resistance as S/R from now on) Maybe on Monday I can see what is going to do, but right now I don’t see if the pair is going to break the S/R or bounce.[/li][li]CADJPY bias long. On the lower part of my channel, waiting for a signal to continue north. Made nice tweezer pattern, and that is very good for me! If today’s candle also closes green, it could be called a morning star.[/li][li]CHFJPY bias long. The pair is moving nice inside the triangle/pennant. Current bar is likely to breakout the triangle, but I’m not buying it until it closes above 106.35, that is previous S/R. This is also because I see that some more days are remaining for the triangle to end, and the weekend is too near, so there is not need to do the trade yet. Also, I have some yen pairs running, and I don’t want to add more risk with the yen until I see a clearer breakout.[/li][li]EURAUD bias long. Moving my way. Pretty near the up trend line, it could make a big retracement in next days, so I’m going to be very careful of this pair![/li][li]EURGBP bias long. Pair still moving my way and in a range. The candles shows accumulation for long positions. Will know in some days.[/li][li]EURJPY bias long. Waiting for the move.[/li][li]GBPCAD bias long. Moving my way, but bulls seems to be losing steam.[/li][li]GBPJPY bias long. A continuation move is forming. I’m going to buy if it close above 154.03[/li][li]GBPNZD bias long. Well, the triangle finally broke. A powerful 200 pip green bar marked the victory for the bulls. Previous similar moves were followed by some time of profit taking, making new triangles and other patterns. About 7 days of this type of moves and then another push. Will see in some days.[/li][li]NZDCHF bias long. It was stopped out for -162.9 pip loss. I think I had talked about this pair, and I looked that there is a well stablished trend line that I was not considering on my channel and that could be the real low of the move. It seems that I was right and the pair is bouncing on that trend line. If today’s bar close above 0.7720 I will buy it again at a better place than my original entry (175 pips better place), should the pair continue the up move, I will erase all the loss and add very good profits.[/li][li]AUDCHF bias short. Triangle broke very well, and my new entry is at very good point. The pair is moving to my way with nice, big red candles.[/li][li]NZDJPY bias long. Attempting to break the pennant down, but it has been contained by a previous S/R. My entry point is the same, no changes.[/li][li]USDHKD bias long. It is making a retracement. Waiting to see what happens.[/li][li]USDSGD bias long. Ok, that is a big move for a retracement! I just placed a buy at the 61.8 % retracement, IF the pair opens below and closes above that level. That could take a couple weeks.[/li][li]USDCHF bias long. Mmm, this move was predicted by the harmonic pattern, and could go down up to the 0.9420 level, just because that is what statistically move after this type of pattern. It is too bad that I was tricked by the previous move high, but I still think this is a valid buy, just need to wait a little. I have my stop placed so this could not be a catastrophic loss.[/li][li]EURCAD bias long. Moving my way nicely.[/li][li]EURNZD bias long. Also moving my way. Both the kiwi and the loonie are stronger than the euro as this pairs demonstrate, and that should reflect on yen pairs pretty soon.[/li][li]NZDCAD bias long. Waiting for the pair to do its move.[/li][li]GBPUSD bias… thinking about it. I’m going to look for another reasons to help me defining my bias on it. EDIT: after looking at weekly view I see that a short term low could be in place. A close inside my channel (above 1.5263) could signal a buy and a change to bias long.[/li][li]BRENT bias long. Support is holding, but it is inside a range. Waiting for more signals. What do you think that is going to happen with OIL when the US starts being producer? I think the price is going to drop! I must be very carefully about this event, to avoid staying long![/li][li]XAUUSD bias changing to long. If price closes above 1425 I will buy it and change my mind to mid term long bias. I see that GLD ETF volume was light, that is what is stopping me from buying right now.[/li][li]XAGUSD bias neutral. Price should follow gold. If I see gold moving north and silver closing above 23.36 I will buy it.[/li][li]EURCHF same as previous analysis.[/li][li]GBPCHF bias long. My entry was not very good, because I bought after that big green candle, nevertheless, I think it is a good buy.[/li][li]USDMXN bias short. Well, The dollar is stronger than the peso! and it is moving north fast and furious but still inside my downtrend channel. I will short the pair if the price bounces on the S/R at 12.87[/li][li]GBPAUD bias short. Well, the pair is moving north, that is not looking right. I’m going to move my stop to limit the loss of the pair.[/li][li]AUDCAD bias short. Waiting.[/li][/ol]
Thanks Medisoft. Your updates are informative and appreciared.
Medisoft - thanks for keeping this thread interesting with some live trades. I noticed that you’ve had some good opportunities to take some good profit, but decided to let it roll. What are your exit strategies as you appear to have a robust entry strategy but to be consistently profitable, you need to have both working in harmony?
I only exit when the trade hits the stop, and I move the stop when I find reasons that make me think the trend is on risk.
My trend or bias is mainly defined by long term trend lines and I adjust my “reversal sesitivity” to that big trends so only big moves at key levels make me move the stops.
This is the analysis for today!
My current equity is still above the initial deposit, and I think too little time has been since I started to say anything.
[ol]
[li]AUDUSD bias short. Well, the pair seems to be continuing its down trend, with a +100 pip move down today. My stop was not touch, and I’m in a very good number of pips.[/li][li]EURUSD bias short. Price bounced on my upper trend line, but it is too soon to say that it is going down. Looking at my entry, I think I should avoid entering a trade when it seems too late, better to wait for a retracement.[/li][li]NZDUSD bias changing to short. Current day was a very bearish move that fell outside my channel and was contained by the S/R at 0.7940 I think I’m moving my stop just below that S/R.[/li][li]USDCAD bias long. It bounced on a S/R and didn’t touch my stop.[/li][li]USDJPY bias long. Still waiting for a continuation of the up trend. No S/R broken.[/li][li]AUDJPY bias long. I see a S/R broken, and next S/R is far below. I’m moving my stop to just below the 78.6 retracement.[/li][li]AUDNZD bias short. Ok, this is weird. The both aussie and kiwi moved down, but the aud/nzd moved up. This could be the answer from comments of people from NZD that said that the kiwi is too strong. Well, now is not too strong hehehe. Moving my stop to just above 1.2096[/li][li]CADCHF bias short. Moved very nice. Something that I’m looking is that I should catch the move on an extreme of my channel, and not on the other side. The odds are better there, and I could reduce my stops a lot and extend my profits. I’m going to develop more patience for waiting this type of move.[/li][li]CADJPY bias long. Near S/R, not broken yet.[/li][li]EURAUD bias long. Pretty near the top of my channel! I’m going to be looking for a reversal signal, increasing my sensitivity to it![/li][li]GBPJPY bias long. Moved my entry point to near the bottom of my channel, just to follow my own PIP (Personal Improvement Proposal) hehehe[/li][li]GBPNZD bias long. Well, it broke fast and furious! That last bar was +263 pips in a day![/li][li]NZDCHF bias mild long. Another close below that S/R will change my mind to neutral.[/li][li]AUDCHF bias short. Moving nice[/li][li]NZDJPY bias long. Removed my entry until I see a signal that the down move is finished.[/li][li]USDHKD bias long. Made a retracement, at about 61.8, waiting to see what happens next.[/li][li]USDSGD bias long. Waiting for my entry.[/li][li]USDCHF bias long. Thinking to move my stop. I remember some examples that MG99 placed about adding the stop, and he shown us that after a big contrary candle he adds a stop. I think I should do that, just to cut my losers faster.[/li][li]NZDCAD bias long. Broke outside my channel and broke two S/R. Moving my stop.[/li][li]BRENT bias long, but that last red candle is making me think it twice, I’m moving my stop.[/li][li]GBPCHF bias long. Bearish move, I’m moving my stop just below that doji[/li][li]USDMXN bias short. The day made a very nice pinbar, I’m waiting 1-2 days for a continuation to the down trend to add a sell.[/li][li]GBPAUD bias short. The pair is pretty near to my stop, but the S/R is holding. Will see next week![/li][/ol]
I’m thinkig about what I see on the charts. I think I should improve my exit strategy, using better sensitivity to the counter trend candles at key levels. The method I’m thinking about is, when I see a counter trend candle (reversal candle) on a key level, I’m going to move my stop to the previous swing, but the filter is that the move should be significant in reference to the swing.
Also, something that I’m detecting in my mind is that I move my stops that are on profit frequently than others that are not. I must move both type of stops the same way! that is another PIP for me today!
I appreciate medisoft as well for keeping this going. I’ve been busy restructuring my business and I’ve digressed to be more of a lurker as of late until I’m confident that I can take a step back without things unraveling.
To address the pyramiding concept, it’s something that I’ve loosely considered but every time I start dabbling, I begin to question why I’m monkeying with something that already works.
I believe the methodology itself self fulfills the desire to add more to the position as the base currency is generally being bought or sold multiple times over a variety if pairs.
Thank you
May I ask you for some advice about my trading? I think I need some advice on my exits.
Thank you again
