Wedges and trendline breaks

[pocrel]

taking half off the table on nzd/usd for +25 moving stop to _25 from my entry

so free ride lets hope it goes while i am asleep

well waking up this morning i am pretty much where i left it last night

if anyone is wondering why i took 25 off the table it is because when you come up to the top of the pin you tend to find a bit of resistence so price can quickly retrace

and beacue i had an early entry nothing wrong with reducing risk a bit

to be honest if i enter on a pin with a stop below the pin really that stop is only there if everything goes wrong, ideally your hoping for momentum from the pin and for price not to look back once it breaks the top or bottom

so nothing wrong with closing a position for 30 to 50 pips loss if it does nt take off


anyone trading out there today? any ideas and charts welcomed

 

[pocrel]

stop now at breakeven on the 7051 on nzd/usd

so +25 banked on a half and +40 on other half at the moment

i am even thinking of adding to this now just watching price arounfd the 00 levels

 

[pocrel]

going to lock in some more profit on this nzd/usd stop now up at 7090

atr now at its limits for the day so will tighten my stop

been a nice trade good start to the week :clap:


and stopped out for +40

 

[pocrel]

well its been a pretty slow week for me so faar but this

usd/jpy is looking very interesting

we have had a massive push down breaking previous major support and now we are begining to test the previous support so will it turn into resistence

watching for this maybe time to sell the usd/jpy soon

here is the chart

 

[pocrel]

little bit of confluence here aswell with the 50% fib level

looking to take my entry off the hourly on this around 8442 level

order pending

 

[pocrel]

A better looking set up for me is eur/jpy

better looking pin bar into support order set below the pin

cancelling the usd/jpy order

 

[pocrel]

trade on eur/jpy 10715 stop above the hourly pin bar 10780

 

[pocrel]

taking half off here +25 stop now at breakeven

 

[pocrel]

closing the other half as it comes into support levels and the 50 level

so that + 64 on the other half

nice morning :clap:

 

[megamuel]

Hi Sam
cheers for the encouragement, a blog does take time and i am not sure how many people even really look at it but i must plug on as it gives me a record of some sorts and if i can justify the trade by putting it on the site then that cant be a bad thing
i heard that you should nt be in a trade if you could nt convince a room of traders to enter the trade with you
as for results things are looking very promising and i have never been more profitable
oh and the reason i travel alot is because i fly for a major airline

also i am adding a blog and i am going to try and add some videos to it, this my take a bit of time, need to get the hang of it and not sure if i have the correct software for this any suggestions?

cheers and best of luck with trading

pat

Hi again Pat,

Glad your trading is going well. I have also been working on a setup using trendlines and now its just a matter of saving up a decent amount of capital. I'd also like to demo trade it but I want to trade UK shares and I don't know anywhere I can demo trade them. What would you say is your main or favourite setup? How long have you been trading for? You seem to know your stuff.

So you're a pilot? That must be a pretty cool job! What motivates you to trade then? It can't be the money if you're a pilot surely!? Sorry to be nosey, just curious.

Not sure about the software for making videos... If you have a webcam it should have some software with it to do that? Otherwise there is plenty of free stuff you can download.

Take it easy,

Sam.

 

[pocrel]

just managed to sacn over the charts and there is some nice pin bars out there

my main attension is focused on eur/jpy and usd/jpy

also crude oil and s and p dow and ftse

all these trades are based off the weekly charts

eur/jpy broke the major support so did usd/jpy but quickly retraced so looking for a move up so will be buying a breakout of the pin and managing my position aggressively

a bit of confluence on the other charts fib levels support etc all the things i trade

will update as we open

example chart is eur/jpy



enjoy the holiday weekend

 

[pocrel]

just managed to sacn over the charts and there is some nice pin bars out there

my main attension is focused on eur/jpy and usd/jpy

also crude oil and s and p dow and ftse

all these trades are based off the weekly charts

eur/jpy broke the major support so did usd/jpy but quickly retraced so looking for a move up so will be buying a breakout of the pin and managing my position aggressively

a bit of confluence on the other charts fib levels support etc all the things i trade

will update as we open

example chart is eur/jpy

View attachment 90454

enjoy the holiday weekend

WELL the yen pairs were a nightmare last night after the news from the bank of japan,

anyway did nt get a chance to post it but my eur/jpy trade kicked in and i managed 50 points on half a position as my stop was at B/E after 50 points this was taken out and lucky too or i would be in trouble now
anyway i use a EA on metatrader for this it closes my position and moves my stop to B/E even if i am not at my computer very hand bit of software

here is the chart but not mush to see with it

any +50 on a half

 

[pocrel]

trading from LA this week so going to be a late trade

just took a short on eur/gbp based on 50% level of daily bar, not a pin bar but not far off either , 50% fib level rejection and descending top trend line

this is in the direction of the current trend too and stop is above the days high

 

[pocrel]

also shorting aud/nzd here as there is a pin into the 68% level also we have a double bar hi lower close on the 4 hour chart which is a very reliable pattern only thing is the 10 point spread i hate anyway i am short at the 50% level of the daily bar so reduces my stop a little

let hope it goes

 

[pocrel]

Closing out the aud/zd trade for +25 on full position as aud trade balance due out in 10 min so could spike on that

anyway not a great trade but still a win is a win


eur/gbp not doing much

bit of a mistake closing the aud/nzd as it seems to be flying down but such is life, eur/gbp +2 at the moment such a lively currency haha

 

[pocrel]

stopped out of eur/gbp -45 disappointed espeicailly as aud/nzd was a flyer

move on

 

[megamuel]

What you lookin at this week then pocrel?

Sam.

 

[megamuel]

USD/JPY trend seems to be weekening. Struggling to make new lows so I am expecting some of the highs to get taken out soon. This is H4 - too long for you?

Sam.

 

[pocrel]

USD/JPY trend seems to be weekening. Struggling to make new lows so I am expecting some of the highs to get taken out soon. This is H4 - too long for you?

Sam.

Hi Sam, been a bit busy with work and also a little break back in my home country of ireland so not seen much of the charts for the last few days

usd/jpy still looks a little bearish to me, the daily chart showed a lovely pin into support and could go lower that is the way i see but everyone is different

higher lows and higher high on the 4hr could mean its going up but for me the daily signal is stronger so i look at that first

the other problem i have with it is my biased is to the downside but its to near its previous lows for me to take the trade as it has not got enough room without running into traffic

i am sure it needs a bit of a relief rally and then maybe try to get short this pair

anyway i dont see much else tonight and i am working tomorrow so will try to get something on tomorrow night or the next day

did you take any trades today?

cheers

pat

 

[pocrel]

interesting pattern on gbp/chf,

retest of the breakout area

nice daily pin bar off it

any break lower of the pin bar is a valid entry lets see how it goes on sunday night i will be shorting this