Wedges and trendline breaks

[pocrel]

UPDATE

I just want to update a few of my trading rules as things have changed a bit and i am using a wider stops and new entries

Aswell as trading wedges and trendline breaks from only 4 hr daily sometimes weekly also i am now trading pin bars

now pin bars need to appear in areas of support or resitence, or where resitence becomes support or if we break major areas and price returns quickly to to these areas


also they need to be greater than 50% fib retracements

buy or sell the low or high of the pin bar +1 point

stop below or above the pin plus -1

always factor in spread

target is usually 50 % of the fib level

 

[pocrel]

View attachment 89388

Well just waking this morning and my order kick in last night while asleep and 50% retrace target hit

+60 points on the aud/jpy




good start to the week

 

[pocrel]

Ok new order going to buy aud/chf

green line is my order, blue stop red target

nice pin into support so we might get a nothern response tomorrow

 

[pocrel]

Ok new order going to buy aud/chf

green line is my order, blue stop red target

nice pin into support so we might get a nothern response tomorrow

View attachment 89516

ok trade has just kicked in

i know some people wont like the large stop on this but r and r is fine

alos there is another entry you could have used, wait till a 50% retrace of the previous daily candle and put an order to buy there cuts your stop loss in half

 

[pocrel]

trading going well was nearly up 70 points at one stage but was travelling so could nt take anything off the table , going to tighten my stop now moving it to B/E

 

[pocrel]

trading going well was nearly up 70 points at one stage but was travelling so could nt take anything off the table , going to tighten my stop now moving it to B/E

View attachment 89578

well stop out for nothing on aud/chf, move my stop in to tight but a bit annoyed i did nt get any points off the table on that trade any way nothing lost nothing gained,

you could take a second entry on it now but i will pass as i go was enough for me

the only thing i can see to day linning up is gbp/jpy but we have a long way to go till the daily candle close so will have to wait and see tonight, here is what i ams seeing at the moment



EXAMPLE:

sp500 cash worked for 20 points

 

[pocrel]

sorry seemed to have posted 2 sand p charts (20 points is = to 200 normal points for anyone who did nt know)

here is the gbp/jpy chart

 

[pocrel]

Another trade beginning to flag up for me today wti crude oil,

nice daily pin bar forming into support

i will be buying if the bar ends like this, buy breakout of top of pin

for those who want a samller stop fib the daily candle and place an order to buy on the 50% line

the only thing with this is it may never come back there and you miss the trade

anyway we are getting ahead of ourselves nedd to wait for the daily bar to finish and for the buy order to kick in

here is the chart



also watching the gbp/jpy daily bar this looking good for a buy

 

[pocrel]

just been adding my order for crude oil tonight and i am going to trade the october contract instead of the september that i am showing on the chart the only differencet is that the october contract is trading about 30 points higher so my entry will be around 7582

cant seem to get a chart up on this will try again later

 

[pocrel]

trades all kicked in, crude moving up nicely, gbp/jpy going well also :clap:

 

[pocrel]

going to take half off + 65 points here from crude stop to break even come crude

gbp/jpy up about 20 points so moving slowly

 

[pocrel]

UPDATE:
crude stopped out for + 60 on a half

gbp/jpy gone against me but this can always change

my radar has perked up nice support line on aud/nzd

we have had a powerful break down of this line and now we have had the pullback and its been tested with a rejection, so if this daily bar finishes as a pin bar i will be selling this pair

here is the chart

 

[pocrel]

Morning guys and girl, any one else trading out there? gets boring talking to yourself

aud/nzd has not kicked in order pending for it to break lower (see last chart)

gbp/jpy just hanging in there 1% risk of account on the trade, always manage risk and one trade wont matter

usd/jpy is looking more and more intersting everyday

if we break the support level we could be on for a massive move down watching this level closely here is my chart



another chart i am looking at is GOLD but could do with a better looking pin (more of a doji than a pin so indecision around this level) may break to the downside, wait and see

but here is my chart :

 

[pocrel]

got stopped out of gbp/jpy -150

not sure if anyone took my gold trade? +50 points on that one happy days:clap:

aud/nzd, my order never kicked in so once the new daily bar finishes i will be repositioning my self for next week

Plenty more trades looing good tonight so will update with what i have in mind tomorrow

Been a very profitable week for me

have a good weekend

 

[pocrel]

Well couple of nice patterns linning up for next week

gbp/jpy


nzd/usd


nzd/jpy



my order in aud/nzd cancelled due to new daily candle

i think with the 3 charts above only expose yourself to one of those trades due to the correlation, pick the one that looks the best and go with it

 

[pocrel]

Well couple of nice patterns linning up for next week

gbp/jpy
View attachment 89864

nzd/usd
View attachment 89866

nzd/jpy
View attachment 89868


my order in aud/nzd cancelled due to new daily candle

i think with the 3 charts above only expose yourself to one of those trades due to the correlation, pick the one that looks the best and go with it

for me the nzd/usd is my favourite chart

reasons:

1/ double bottom
2/ round number support
3/ pin bar
4/ 50% fib zone

lets see if it takes off next week will put order to buy above the pin

 

[megamuel]

Hey Porcel,

Good to see you still going with this thread. Sorry I haven't contributed much but I am not trading at the moment so I'm a bit out of the loop! This is the style of trading I want to be doing though. How long have you been trading like this and if you don't mind me asking, how is it performing? If you have the facilities, it would be great if you could do some videos as it would really help me to see your thought processes etc.... Anyway, keep it up and good luck!

P.S. Out of curiousity - what is your day job?! It seems to take you around a lot!!

Sam.

 

[pocrel]

long here on the nzd/usd 7051

basically my entry is i have fibbed fridays daily candle an i am entering as its half of that, stop below fridays daily candle

this entry gives me a samller stop but it may not move my way

let see hoe it goes

chart posted in prevous post

 

[pocrel]

Hey Porcel,

Good to see you still going with this thread. Sorry I haven't contributed much but I am not trading at the moment so I'm a bit out of the loop! This is the style of trading I want to be doing though. How long have you been trading like this and if you don't mind me asking, how is it performing? If you have the facilities, it would be great if you could do some videos as it would really help me to see your thought processes etc.... Anyway, keep it up and good luck!

P.S. Out of curiousity - what is your day job?! It seems to take you around a lot!!

Sam.

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

 

[pocrel]

long here on the nzd/usd 7051

basically my entry is i have fibbed fridays daily candle an i am entering as its half of that, stop below fridays daily candle

this entry gives me a samller stop but it may not move my way

let see hoe it goes

chart posted in prevous post

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