It is all a Fugazsy

[Fugazsy]

oops...

this is a classic example you cannot get in all the move, first of all I was not around at the reversal, secondly as already mentioned despite I was overall bearish I was starting to get hesitant, I would have gone short if I was around but I would have wait for some of break out build up pressure or a double failure of the bull which did not happen, she went fast down.

We cannot get in all the moves but we can specialize and trade only when our condition are met, if we try to trade all the moves we will fail because the moves are too many.

When you are wrong it will burn and that is ok, we are gladly humans, what is not ok is when that burn will make us react in a unprofessional way.

When it burns be aware and stay with it, let it be, give it some space and you will start to learn a great deal.

 

[Fugazsy]

I have my own personal way to trade made out of so many years of work.

I will not reveal in detail my system here first of all because it will not be appreciate, secondly it will not work for you, thirdly great thing are only gained with hard work.

The best gift I can give you is to show my interpretation of many things and I will give many clues, it is up to you to find your way based on my information, only by bringing yourself forward you can make it happen.

 

[Fugazsy]

It is 10am here, just came back from my power yoga class and now I am starting to work, I have my own schedule I follow every day, I will start scanning 24 pairs to make me have a list of the pairs I am looking to trade for the day, then I have a look at the calendar of what is coming up, I will read some articles just the get my own sentiment.

 

[Fugazsy]

Scanning done, I also have and excel file where I record my trades:week number, trade, date in and out, initial risk %, P/L, pips, gained/loss %, RR, on most importantly a comment if I followed my system strictly and when not another comment what will be the optimal behavior to fix it.

I also have a folder of every charts with entry and exit market by date, so any time I can go back and have a look compared to my behavior.

 

[Fugazsy]

regarding the scanning I have another excel sheet where I record the swift in weight and compare with the day before.

 

[Fugazsy]

yesterday bad numbers for aussie and good number for sterling and cad, all showing in the chart......sterling surprisingly did not move much....dollar gain more strength, yen still very weak, euro steady weak.......

some correction is needed, not sure if will happen....they can gently shift in the same direction.......time to go fishing....or lunch in town...

 

[Fugazsy]

daily gold, oil 240m.

Oil contained into the expanded triangle, rejected at the upper TL but also maintained into the small range which could end as a flag.........break or fail?

Gold broke the bearish flag and going towards support....

 

[Fugazsy]

daily and hourly dollar index......looks a bit tired to me....

dollar, she did look tired but she spiked up.......I guess this is due to the possible rate increase next month......

Now at the channel line......in spite of what they will decide I believe the dollar will drop after the announcement, at least that is what I understand......maybe not against the euro (the dollar index very much reflex the eurusd) but will with the rest...

 

[Fugazsy]

well contained in the channel for now.....

Not much going on this morning in any pairs, counter traders are making their way, not much but enough.....watch for anxiety, she will try to make you find trades where they are not....if she surface be aware and let her be, she will subdue but if she does not at least she will not control you .....

PA changes and we need to adjust accordingly....as before, now in range also a flag....personally I left this alone ...

 

[Fugazsy]

Oil contained into the expanded triangle, rejected at the upper TL but also maintained into the small range which could end as a flag.........break or fail?

Gold broke the bearish flag and going towards support....

this pair is correlated to oil but not always....

 

[Fugazsy]

this pair is correlated to oil but not always....

a bit like an American Indian: always keep your ears on the ground.

http://www.reuters.com/article/us-iran-oil-opec-idUSKBN13E07C

 

[Fugazsy]

just to give you an idea last week:
6 trades, win rate 66.7, pips 315, 8.7% return, most of the profit was made on one trade only.

Quite normal outcome for the last 6 months.

Done my preparation work for the day, now I will be checking the chart every 4 hours and from LO every 60 minutes.

 

[Fugazsy]

This is GA, when this baby moves she moves fast.

Best way to get in is too wait for a pullback and reversal but does not always happen.

When the channel is tight and fast it will make difficult for bulls to get in in that manner, so they tend to buy with limit orders maybe at the low of the previous bar, where do they place their stop? this is a personal matter, close stops will have smaller win rare compared with larger SL's but will have better RR.

A trader must chose his stop based on his stile, personally if there is a PB and a reversal I will place my stop below that swing, when I buy with limit orders I will place it below the previous swing low..

 

[Fugazsy]

Hi ph
yes trading on the long side would have been the wise choice after the first spike.

how you trade on the right edge must be done in relation to your own system.

What I am showing here is the ability to have a clearer view of what is going on trough PA.

Personally I have a bull view here, sterling is strong, kiwi weak but the all is balancing out a bit.....A proper break out would be an ideal with a strong trend bar or a break out pull back with a protective stop below that swing or at the next swing low down with the view of testing the recent extreme as you suggested.

But before deciding in taking a trade all the conditions needs to be met otherwise is best to go fishing.

Still into range, one can trade range ............but in this case the lower range is not clearly defined, shorting the upper range is not advisable for this pair at the time being (making HL's)

 

[Fugazsy]

this pair is correlated to oil but not always....

took 51 pips out of this lady +1.1%, I was hoping for more....but hope is not helpful....

 

[Fugazsy]

I am flat, been looking for a set up trough out the day but they did not develop......

If you not centered you can see set ups everyone because impatience kicks in, during the day many things can influence you in your perception and in your decision making. Having a detailed plan can help you maintain that necessary stability to make the appropriate decision in the appropriate timing.

Done for the day.

 

[Fugazsy]

EG daily and 240.

Looking at the daily seems like price are going to visit the lower line of the channel.

On the 240 clearly in a bear channel.

 

[Fugazsy]

Oil contained into the expanded triangle, rejected at the upper TL but also maintained into the small range which could end as a flag.........break or fail?

Gold broke the bearish flag and going towards support....

Oil has left the pause or flag after wrestling with the upper line of the megaphone with another spike.

 

[Fugazsy]

AUDCAD Weekly and 240m

 

[Fugazsy]

dollar, she did look tired but she spiked up.......I guess this is due to the possible rate increase next month......

Now at the channel line......in spite of what they will decide I believe the dollar will drop after the announcement, at least that is what I understand......maybe not against the euro (the dollar index very much reflex the eurusd) but will with the rest...

dollar daily