The Road To Profitability

This is a discussion on The Road To Profitability within the Trading Journals forums, part of the Reception category; Didn't have the time to post my first trade for the year so I'm doing it now, I went long ...

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Old Mar 6, 2012, 12:29am   #81
Joined Aug 2009
Latest trade

Shuanl0ol started this thread Didn't have the time to post my first trade for the year so I'm doing it now, I went long AUDCHF and the trade ended up being a winner with a 0.75R with a 1% risk.

As we can see price found resistance at 0.9500 and traded into the previous range of ~ 0.995 - 0.960... I exited at the first trouble area (around 0.980) mainly beacuse price lost it's upward steem and liquidity was about to dry up (final hours of N.Y. session).
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Old Mar 6, 2012, 12:41am   #82
Joined Aug 2009
Audcad

Shuanl0ol started this thread 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
Attached Thumbnails
audcad20120306.jpg  

Last edited by Shuanl0ol; Mar 6, 2012 at 12:46am.
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Old Mar 6, 2012, 12:57am   #83
Joined Aug 2009
GBPUSD potential short

Shuanl0ol started this thread I'm looking for price to reach the 1.61 level, I hope some bearish price action will be shown and I would feel strongly confident regarding the potential setup around this level only if price manages to take out the previous highs. There might potentially be lots of stops and limit orders that has been put there thus a great order flow and a great liquidity pool for the big players. Lets see.
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Old Mar 6, 2012, 1:11am   #84
Joined Aug 2009
My ****up

Shuanl0ol started this thread In october a great trade presented itself partially beacuse my anticipation of BOJ would intervene on the FX market again to prevent their economy falling into deflation which would end up with a vicious economic circle.

Anyways, I was sure that they would intervene and USDJPY had been trading in a very narrow range for the past days. This was probably beacuse that the big players also anticipated the intervention and knew more about it in detail than I did. I mean if I know something it is likely that they know something too but x3 lol.

So I began looking for longs with a tight tight stoploss to catch a big winner that would make my account rise by double digits in the upper 20 percent figure.
I placed my order at market with a 33 pip SL as seen in the first attachment (SL = red line).

Attachment number two tells you the rest of the story. The idiots (me and you most likely) place their stops at very obvious levels, which this most certainly was. Leading to a huge order flow forming below the lows on my first attachment which again is a gold stone for the big players (great liquidity at that level).

For them (the big players) its like taking money from somebody who wants to give it away, and if they end up losing they might as well say "well it was partially your money anyways" great excuse hehe. All they need to do is to place their limit orders.
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Old Mar 7, 2012, 2:05am   #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, 10:26pm   #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, 1:50am   #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, 3:02am   #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, 3:53pm   #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, 3:42am   #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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