The Road To Profitability

This is a discussion on The Road To Profitability within the Trading Journals forums, part of the Reception category; I'm currently short AUDNZD after a nice setup that occured after price took out previous swings (circled area) and after ...

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Old Mar 7, 2012, 1:05am   #85
Joined Aug 2009
AUDNZD short

Shuanl0ol started this thread I'm currently short AUDNZD after a nice setup that occured after price took out previous swings (circled area) and after price broke through previous support and manage to make a retest confirming that the level had turned into resistance.

I'm not really sure where I'm getting out of this, I will however decide this depending how price closes tomorrow at the end of N.Y. session.

Currently up 0.7% already on this, lets see how it plays out during London session.
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Old Mar 7, 2012, 9:26pm   #86
Joined Aug 2009
AUDNZD update

Shuanl0ol started this thread I closed my AUDNZD trade for a +22 pips (+0.4%) which obviously is a dissapointment. Trade was up +85 pips but due to a decrease in inflation expectations price moved back towards my entry.
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Old Mar 8, 2012, 12:50am   #87
Joined Aug 2009
Re: Audcad

Shuanl0ol started this thread
Quote:
Originally Posted by Shuanl0ol View Post
I'm currently looking for some bullish price action around 1.05 level, price has been forming a flag with quite a small range.
Below I've stated the possibilities and what I'll be looking for:

It seems very likely that it will break on the north side and retest the flag, if it holds I expect it to continue further north. If not we will break south and see price correct itself and test the 1.05 level or it might just simply break through as a knife and trade into the previous rectangle. If the latter is the case I won't be looking for longs until price reaches ~ 1.025.

Remember I view these S/R level more as zones and not as an exact science so when I post a "level" give or take a few pips on that.

Regards
It broke south and currently testing the level. I'm waiting for further price action.
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Old Mar 9, 2012, 2:02am   #88
Joined Aug 2009
Audcad

Shuanl0ol started this thread I'm now short this pair, a confidence boost on this trade would occur if price makes a hard-break through 1.05 level. Don't know where my target is yet, will depend on how price behaves the upcoming hours.

Risk: 1.5%
SL: 1.062
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Old Mar 9, 2012, 2:53pm   #89
Joined Aug 2009
Re: Audcad

Shuanl0ol started this thread
Quote:
Originally Posted by Shuanl0ol View Post
I'm now short this pair, a confidence boost on this trade would occur if price makes a hard-break through 1.05 level. Don't know where my target is yet, will depend on how price behaves the upcoming hours.

Risk: 1.5%
SL: 1.062
Exited my trade with a R:R of 1:1. Price has reached an area of consolidation (problem area) so i decided to bank in my +1.5%.

Happy weekend.
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Old Mar 12, 2012, 2:42am   #90
Joined Aug 2009
Gold

Shuanl0ol started this thread Just placed a long limit order on gold at 1705.60.. SL at 1685.

I'll post a chart tomorrow.
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Old Mar 13, 2012, 6:27pm   #91
Joined Aug 2009
Re: Gold

Shuanl0ol started this thread
Quote:
Originally Posted by Shuanl0ol View Post
Just placed a long limit order on gold at 1705.60.. SL at 1685.

I'll post a chart tomorrow.
Got stopped out for -1%, which was a bummer... price turned at my SL. Typical .

Below I've attached a H1 chart in which I based my stoploss on... I will strictly try to not base my SL's (or anything else) on H1 charts again. I'm just not ready for that. My SL is at the bottom horizontal line.
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