Convegence trades

[Convergence]

Hi guys n gals, I'm going to post a few trades, not to demonstrate or prove anything
just maybe as talking points to perhaps get a few conversations going. I have been a trader for getting on 10 years and to be honest it's terribly boring most of the time. I make a living(just) but I'm no wizkid don't be looking to find any strategies I rely mostly on intuition and a basic grasp of how markets tend to move, nothing more no indicators nothing fancy, medium term trading. I trade about 15 fx pairs and I use a 15 min bar chart with 10 pip range bars which mimics an hourly chart but has more detail and is 'smoother'.

I have just taken a small short eurgbp position with a tight stop which is unusual for me as they are mostly very wide but I can't see price getting above 0,8547 its a kind of break and retest trade. I would have shorted at the blue res line but wasn't at my screen and the target is fairly small due to support at 0.84166 I missed a few obvious trades in the London session but I only trade the US, my trades can last hours or days just depends. If anyone wants to 'chip in' that would be great

 

[Convergence]

And looks like I'm about to get filled on a limit order short in EURAUD straight forward channel trade target is bottom of channel so thats 2 short eur trades thats enough for today. Now I will go sit in the sun for an hour no point watching wouldn't change anything anyway and it's important preserve psychological and emotion capital I'll come back in a hour refreshed, win or loose

 

[Convergence]

I cancelled the euraud limit short as AUD is showing a lot of weakness across the board. Im still in the eurgbp short after missing my stop by .5 of pip but I don't hold out a great deal of hope but its only a small position I really can't see anything thats jumping out at me. The only market of interest is usdcad with clustered support and resistance The fact that it has broken out of the channel would incline me to look for a short but the USD is showing strength with a great breakout vs the swissie. I'll come back in an hour or so and see if anything's clearer

Thoughts on USDCAD anyone?

 

[Convergence]

Still short EURGBP after a near death experience. Thats either very lucky or extremely accurate stop placement. That is starting to look like a Flag, which I trade. Im keeping entry, stop and target unchanged

 

[Convergence]

Chart:

 

[Convergence]

I closed the eurgbp short manually a few pips short of my original target as 4 attempts to get below 0.8422 have failed I have taken a long NZDUSD with a 2x risk target after 3 pushes down/triple tap pattern expecting small retracement

 

[Convergence]

I have placed an AUDJPY stop order short at 83.64 obvious resistance around 83.80 targeting bottom of range at 83.28

 

[Convergence]

Target hit on NZDUSD at 0.6897 after adjusting stop and target by a couple of pips. I cancelled the AUDJPY stop sell order

 

[Convergence]

I follow Al Brooks methodology of initial and actual risk where the initial stop is more of a catastrophe stop but once the trade is going my way the stop can be moved to just above/below signal bar and the target also reduced to maintain the 2x RR profile of the trade. Short NZDUSD here initial risk is actual risk as the next swing high above is just too far away

 

[Convergence]

stopped on last trade done for the day 2 winners 1 looser thats fine

 

[Convergence]

Short usdjpy at 113.85 target 113.60 (at the moment) stop and target may change if price goes my way. "sell into strength, buy into weakness" as they say

 

[Convergence]

Was stopped on USDJPY but I'm short GBPUSD and AUDJPY both of which are heading for their targets and long XAU. Not sure If I will continue the thread I started it not to demonstrate trades but more to make friends which is why I joined the forum and have some conversations but there's little to no interest I also scalp trade the FTSE to relieve boredom so will probably just stay on one of them threads which are more populated

 

[Convergence]

The XAU trade was a break and retest trade hinging on 1226 gold also had an up day yesterday first in a while u can see support becomes rsistance becomes support on the 1hour below

 

[Convergence]

and the target is 1234 next resistance (I pulled the AUDJPY at breakeven)

 

[Convergence]

Target hit on short GBPUSD and with that I'll go out on a high last post