nice spotted trade, (I wouldn’t have seen that tbh)
shows nicely on the daily although daily candle hasn’t closed yet so I might be joining you in this tomorrow.
Looks like a very good trade to me. Good luck with that mate.
Normally I don’t trade Kiwwie pairs.
Thanks Perry. I love the commodity currencies, I seem to trade them the best - I have no idea why!! Its the same with the JPY pairs, I seem to trade them well.
I actually exited the trade now, there were 2 reasons for this:
- We failed to make an impression on the Mid Pivot and
- The market is respecting the resistance Ive drawn on the chart… I still think the market will continue downwards and the M1 pivot should break very soon IMO.
Either way, Im out of this trade and into a Short AUDUSD 1 hour trade.
Apex.
Woke up to see my AUD/JPY trade completed overnight. There were three rejections off of the 20 EMA back to back, two being at the 92.00 level. I figured that this pullback would probably be the best time to get in, seeing as it was near the 20 EMA but hadn’t been able to clear it for 12 hours. I was a bit conservative with my target because I was going to be sleeping when the trade completed, but still managed to bag 106 pips =).
looking at the eurusd i’m planning a long tp 13175 sl 12970 entry 1.303
reason: Bull flag on h1 and 20EMA appears to be providing support.
risk: eur/usd continues ranging for a while more. no strong reversal signs on h4 yet…
Big pullbacks on the 4H AUD/USD and NZD/USD currently rejecting off the 20 EMA. Anyone else watching for signs to get in?
Closed at 67 pips due to 2 consecutive spinning top/ small body signaling potential lost of momentum.
looking at usd jpy right now… might be interested if it closes above 99.20 in the hour.
scratch that…
excellent trade here hbb - good with trend trade, following corrective pullback - using this corrective pullback to get in with trend, good target - nice trading!
hello flam (almost typed glam :-o)
Do you have a chart from the broker which shows the entry/exit point where they mark it? it actually builds confidence when people see the actual trade with the entry/exit from the brokers charts, along with building mirror neurons
so if you have it and can post it, that would be great.
I’m not too sure about how this is done… my broker is Oanda and i use their fxtrade to trade and their MT4 account does not reflect the funds i have with them unless i transfer it but the downside is i cannot monitor my trade when i’m not at the terminal… so i use MT4 to chart and fxtrade to trade…
let me go play around…
cool, keep me apprised as i have friends who use fxtrade and can show the trades on the charts
the lines does appear on the desktop version of fxtrade while the trade is being executed… but once closed… i cant find them anywhere…
looks like potential entry on euro usd again…
price is nearing 20EMA H1 again which is still acting as support for the candles…
on the H4 a bull flag pattern appears to be forming…
ideally would like to enter on 20EMA rejection when proven before london open
entry: 1.3069
tp 1: 1.31209 (51pips) 1/2 size
tp 2: 1.31751 (106 pips) 1/2 size
SL : 1.30202 ( 50 pips )
spilt tp because the flag formation on h4 does not seem complete yet…
trade attached…
I agree and even I myself feel encouraged when I see my successful trade in a chart.
I do not see any signal for long yet. Clearly the last candle closed the below the previous candle, signalling downtrend from your chart…
Yea you are right… trade closed
omg… euro usd is ranging… should stay out and revise PA and review how i traded wrongly…
Fantastic 5 minute trading on AUDUSD today. I have a question Im hoping Chris can answer for me… I know how to trade breakouts, but when should I trade a pullback to the 20 EMA instead?
Let me give my understanding and maybe you can correct me perhaps…
My understanding is that you should trade pullbacks when there is a strong trend and if there isnt a trend in place, then trade breakouts instead.
Is that correct?
Thanks in advance!
Apex.
Hello Apex,
Quite the contrary. I actually wrote an article on this called, “How To Trade Trends in Forex - What You’ve Been Missing” so go ahead and read the article as it discusses those details.
Hope this helps.
Kind Regards,
Chris Capre