3 Ducks Demo journal

[mentormeplease]

USDCHF lined up. Market order at 0.94795
SL: 0.9512
TP: 0.9413
SL and TP are very wide so will monitor closely.

 

[mentormeplease]

Due to the strong up trend on the daily and the bullish pin formed on the hourly chart, I've moved my stop to BE.

 

[mentormeplease]

Stopped out at BE.

 

[mentormeplease]

When looking at the charts in the mornings, I've noticed quite often that there are good 3 ducks stups around 18h00 and 01h00 GMT. Will continue to monitor it.

 

[mentormeplease]

Ok, my mistake, more like 20h00 and 01h00. Have a look at these charts. Entry at the arrows. Well I can't post the charts because I get that annoying error again. Have a look at GBPCHF, USDCHF and EURGBP.

 

[mentormeplease]

Long setups on EURGBP and EURUSD but I'm giving them a miss. They've been stretched on the last 2 days so I just feel that its highly unlikely we'll get a big movement again today especially with the medium term bearish trend.

 

[mentormeplease]

Long setups on EURGBP and EURUSD but I'm giving them a miss. They've been stretched on the last 2 days so I just feel that its highly unlikely we'll get a big movement again today especially with the medium term bearish trend.

As it turned out, both took of for an easy 2:1 R:R if stops were placed just below the 5min support.

 

[mentormeplease]

GU lined up. Order filled at 1.54933
SL: 1.5474
TP: 1.5533
Will monitor 1.5425 level as that seems to be long term resistance so may take profit around there which would still give a good R:R

 

[mentormeplease]

EURGBP and EURUSD were lined up again. I saw it too late but it would have been a bit contradictory for me to take it as the same reasons for not taking it yesterday should still apply. Lets see what happens again today.

 

[mentormeplease]

EURGBP and EURUSD were lined up again. I saw it too late but it would have been a bit contradictory for me to take it as the same reasons for not taking it yesterday should still apply. Lets see what happens again today.

Would not have been a good trade to get into anyway due to the German producer prices being released just now. Better to wait for the news.......

 

[mentormeplease]

SL hit at 1.5474
Balance $6389

 

[mentormeplease]

EURGBP and EURUSD were lined up again. I saw it too late but it would have been a bit contradictory for me to take it as the same reasons for not taking it yesterday should still apply. Lets see what happens again today.

Not the best of trades as the 1.5500 level seems to be a bit of a pivot point looking at the longer term charts. Strong resistance at this level was also shown on the 10/01/2012.

 

[mentormeplease]

EURAUD lined up for a short. Order filled at 1.22932
SL: 1.2314
TP: 1.2253
Following the 20 pip sl and 40 pip tp startegy.

 

[mentormeplease]

AUDUSD also lined up and what makes it stronger is the daily close above the long term resistance on friday. But as I'm already in EURAUD trade, I don't want to expose too much in AUD so I'll pass on this.

 

[mentormeplease]

SL hit at 1.2314
Loss = $415
Balance: $5973

 

[mentormeplease]

AUDUSD also lined up and what makes it stronger is the daily close above the long term resistance on friday. But as I'm already in EURAUD trade, I don't want to expose too much in AUD so I'll pass on this.

Guess these things happen. AUDUSD took of and would have hit TP. :cheesy:

 

[mentormeplease]

3 trades taken this morning. Details will follow.

 

[mentormeplease]

First trade:
Buy AUDUSD @ 1.0536
SL: 1.05100
TP: 1.05880

SL hit for loss of $390

 

[mentormeplease]

Second trade:
Buy EURGBP @0.83460
SL: 0.83340
TP: 0.8370

TP hit for profit of $934
This pair turned just as my TP was hit. Well timed :clap:

 

[mentormeplease]

Third trade still running:
Buy EURAUD @ 1.2386
SL: 1.2366
TP: 1.2426

Running P/L at the moment -$100