I will be entering short if the present 4H bar closed as an engulfing bearish candle. The market has broken an uptrend line of the 4H and has now retrace to test the broken trendline. The retracment is also at Fib 61.8.
See chart below.
hey buddy can you post your result of the last month
thanks buddy
this is my email <[email protected]>
pleaase it is going to be dreat if you email me your trade ideas
thanks man
You can back check in the thread for the February results. I do not post all the trades taken. Also the trades posted here are not for anyone to trade live(thats up to the individual).
Both pairs are showing similar gartleys. Retracement to the up trendline at 61.8 and entension 161.8 reach from the bear swing. Past resistance is now support on both pairs. Gbpjpy has similar setup. I went long on the eurjpy only but both pairs are good trades.
Eurjpy
Entry: 122.15(where the extension 161.8 and the retracement 61.8 meets)
SL: 121.66 (50pips)
TP1: 124.60
TP2: 125.94
See both charts below.
TP1 hit at 124.60 for 240pips. TP2 is set at b/e.
Eurjpy:
TP2 close out at b/e.
Audjpy:
The retracement from the last swing is at a 61.8 level, also past resistance now support at the trend line, its possible the market will rally at this level.
Entry: 61.68
SL: 61.00
TP1: 63.03
TP2: 64.23
See chart below.
After coming within 9 pips to my stop the market return to the upside hitting target 1 at 63.03 for 130pips. TP2 is move to b/e.
This pair has been trading in a pennant on the daily TF. Its now testing the topside which it had test 3 times before. I’m seeing a possible return to the downside.
Entry: 1.2843
SL: 1.2944 (100pips)
TP1: 1.2640
TP2: 1.2436
See chart below.
The market spike yesterday after the news release and hit my stop for -100pips. I think my stop was badly place as I should have set it above the previous high at 1.3000 there about. The market is now heading down, i will be looking to go short after the daily bar has closed.
This was a great trade. TP2 manually close @ 63.93 for 220pips.
A total of 350pips gain from both targets.
Currently the market is testing a broken trendline, also testing the current downtrend line from the 4H TF at the 78.6 fibs. I entered short on that test.
Entry: 1.6633
SL : 1.6700
TP1: 1.6483
TP2: 1.6379
See chart below.
Can I assume you entered off the 1hr chart as the 4hr candle that you show hasn’t yet closed?
Cadarkitek, your trade ideas are really informative, thank you for sharing. Looks like you read this pair right (USDCAD). At the moment price is not that far from TP1.
Did you enter this on the close of the daily candle like you said and why did you wait for the candle to close. Is there still a risk of instability when the candle is open? would that not relate more to the close of the trading session, say the London or US trading times? and what parameters did you set on the second entry?
No I didnt enter on a particular TF, I enter at the test of the down trendline.
No I didnt enter but I will be looking for opportunities to go short on the 4H 1H TF. I wait for the daily bar to close to confirm the reversal candle formation which in this case was an engulfing bearish candle.
I decide to close TP2 manually ahead of the NFP readings.
TP1 hit @ 1.6483 for 140+pips.
TP2 manually close @ 1.6418 for 210+pips.
This was another good trade capturing a total of 350+pips.
I decide to close TP2 manually ahead of the NFP readings.
TP1 hit @ 1.6483 for 140+pips.
TP2 manually close @ 1.6418 for 210+pips.
This was another good trade capturing a total of 350+pips.
I also got 275pips on from that pair today but, young man/woman, u need to teach this method rather than posting trades.
would be better if u teach it and let others see wot u r seeing but this method looks similar to wot i have learnt from MTI
Short at the test of both the broken up trendline and the current downtrend line. The test is also at fib 61.8.
Entry: 1.4030
SL: 1.4090
TP1: 1.3880
TP2: 1.3722
See pic below.
Have done the same with the exception that I entered at worse price. Why didn’t you enter at 1.3970, the close of the engulfing candle? And thanx for sharing the method, cadarkitek!