Trading the Trend with Strong Weak Analysis

Sorry I missed Thursday’s update, we clearly had a resumption of the trend, top trade GBPJPY finished the week up +175 pips from its entry point, the risk-on trade looks alive and well

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Remember Top Trade EURAUD from January 15th , well if you held it through a nearly -300 pip drawdown you are back in the positive today

Top Trade from January 26th EURGBP* closed the +100 pip mark

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a little pullback in the Pound and the risk on currencies are making a move

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I’ve been following the thread for about a month and took that trade (EURAUD) and am kicking myself right now. I suffered through the pullback then bailed on Friday for a tiny profit only to see my revised target (last low structure) hit then my original target (January low close) hit today. :frowning_face:

I don’t see it at January low yet? can you give entry, stop loss and Take Profit?

But I see 2 problems:

a) trading without a stop loss

b) trading with a negative risk to reward ratio

c) trading without a plan

:roll_eyes: :roll_eyes:

This is what I mean by (January low close) where price closes, not wicks. I’m not a super experienced trader, perhaps there is a better way to put this? I use this sort of level for targets.

A better way to put it?

Yes, you just did, low generally means the LOW

And close means the CLOSE

So when you said January Low Close, we know what Price you mean

Still, seems to me that was about 75 pips profit target

Yet you suffered about 3 times that for drawdown? -225 pips or so

Welcome to the thread, nobody has all the right answers and what works in one trade may bite you on the next one, the best you can do is have a plan before you enter the trade, write it down and let the trade play through,

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Here is a purely technical trade I jumped into yesterday, those two wicks above 105.50 was a good sign this countertrend rally was ending, on the left side of the chart you see a similar stall out also at 105.50

If you like trades with tight stops and big rewards, this one I took with a 50 pip stop and a +200 pip price target, now I can move my stop to breakeven and let the trade run. If you are patient you can find
a couple of these a month

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Big move of the day was USD to the downside

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Will look out for GBPCHF buy.

Good choice, while CHF was strong on the day, see the USDCHF down move, it doesn’t last long

Top trade GBPJPY hits a new high

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New high but unfortunately not a higher close, much talk of shorting the GBP on all pairs, let’s see how the week ends up (or down) :slightly_smiling_face:

@foki132 Guess its better to wait for gbp to regain strength. I dropped gbpchf for a small loss. On gbpjpy I have a small profit and moved SL to secure small win. Will get hit soon or may increase profits. The market decides. Only sure trade for me today was cadchf. Moved SL here also, because I think it will soon stall or turn. CADCHF

Ooh I forgot in nzdchf also, but its moving slow while finviz suggests nzd is strong. Ill give it some room to breathe. The loss/profit is already calculated so no harm. Better than the Casino :joy:
Finviz nzdchf

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Top Trade GBPJPY spends the day consolidating after yesterday’s move above +200 Pips

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GBPJPY broke out of range at H1 chart with a massive bar. However I wont bother because I was already in eurgbp short with a nice profit.

Top Trade GBPJPY is up nicely today

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