3 Ducks Demo journal

This is a discussion on 3 Ducks Demo journal within the Trading Journals forums, part of the Reception category; GBPCHF shows a decent setup. Waiting for break of the low at 1.4504 and confirmation only on close of candle ...

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Old Dec 19, 2011, 9:58am   #36
Joined May 2011
Re: 3 Ducks Demo journal

mentormeplease started this thread GBPCHF shows a decent setup. Waiting for break of the low at 1.4504 and confirmation only on close of candle below this level. Daily also showed a good bearish engulfing pattern 2 days ago. Problem is the daily support shown at 1.4467 which would not give us the required RR. So giving this setup a miss.
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Old Dec 20, 2011, 7:59am   #37
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Re: 3 Ducks Demo journal

mentormeplease started this thread Good opportunity missed on the GBPCHF. As shown in the previous post, price bounced of the daily support and all ducks were lined up for this trade with entry at 1.4555. Anyway, will just monitor and look for a retracement to enter.

Further confirmation of the trade would have been yesterdays pin bar formed on the daily tf.
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Last edited by mentormeplease; Dec 20, 2011 at 8:03am. Reason: Further confirmation
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Old Dec 20, 2011, 8:14am   #38
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Re: 3 Ducks Demo journal

mentormeplease started this thread Same with EURGBP.
Price broke below the range its been trading at for the last 3 days with all ducks lined up and short entry at 0.83783. Too bad I missed them. Lets wait for the next setup.
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Old Dec 20, 2011, 8:16am   #39
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Re: 3 Ducks Demo journal

mentormeplease started this thread
Quote:
Originally Posted by mentormeplease View Post
Good opportunity missed on the GBPCHF. As shown in the previous post, price bounced of the daily support and all ducks were lined up for this trade with entry at 1.4555. Anyway, will just monitor and look for a retracement to enter.

Further confirmation of the trade would have been yesterdays pin bar formed on the daily tf.
Target for 2:1 RR would have been hit now with tp 1.4595 and sl 1.4535.
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Old Dec 20, 2011, 8:23am   #40
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Re: 3 Ducks Demo journal

mentormeplease started this thread
Quote:
Originally Posted by mentormeplease View Post
Same with EURGBP.
Price broke below the range its been trading at for the last 3 days with all ducks lined up and short entry at 0.83783. Too bad I missed them. Lets wait for the next setup.
Would have taken profit here at 0.8360 for almost 2:1 RR with sl at 0.8390. Reason is the low in Feb may offer some support and don't want to be too greedy.
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Old Dec 20, 2011, 8:28am   #41
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Re: 3 Ducks Demo journal

mentormeplease started this thread These were two good trades and even though I just didn't get in on time, the reasoning behind getting in was perfect and we would have been in and out in a matter of an hour.
Two great trades in my opinion
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Old Dec 20, 2011, 1:46pm   #42
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Re: 3 Ducks Demo journal

mentormeplease started this thread Another setup in GBPCHF. Although the 4 hr chart looks borderline. If price hits my order level then it will be above the sma.
Order to buy 0.7 lots (Remember my money management) at 1.4574
sl 1.4537
tp 1.4646
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