From loss to loss.... now time for profit?

[dgtrading]

Positions

these are my open positions to start the week:

- short Platinum
- short Oil
- short GBP/CAD (cautious ready to close up price breaks to upside)
- short EUR/USD ( slightly cautious if buyers are still present)
- short EUR/JPY

 

[dgtrading]

Oil hit take profit.

I'm liking these shorter term trades, get in and swiftly take profit out of the market, much less stress

 

[dgtrading]

closed GBP/CAD- looks like a pop to the upside is probable according to 4hr chart

closed EUR/USD- changed my view to neutral on this pair, the 4hr chart suggests there is a possibility of a pop higher.

closed EUR/JPY- feel like I am not patient enough to trade with a stop loss that wide, would rather wait for a pullback on the daily chart

 

[dgtrading]

only open position is Platinum- which I am cautious about as it looks like buyers may step in

I understand this journal must be frustrating to read with me changing my mind all the time......

 

[dgtrading]

closed Platinum waiting for confirmation of break to downside

 

[dgtrading]

short AUD/USD - only open trade

- 4hr trend change
- break through trend line and 4hr close below previous low of 0.70174
- stop loss above previous high at 0.7059
- conservative take profit at 0.6959

also bearish pin bar at key level and 10 day EMA on daily chart in line with downtrend

 

[dgtrading]

AUD/USD hit take profit over night, not bad to wake up to

loving these short term swing trades

 

[dgtrading]

GBP/USD short

- break of short term trend line
- lower low with strong close
- close below 10 day EMA
- moving averages crossed to downside

- lower high on the weekly chart

 

[dgtrading]

burnt by that GBP/USD trade.....perhaps waiting for a stronger close below 1.534 would have been a better decision

still bearish on the pair, waiting for a drop to the downside

 

[dgtrading]

buy Platinum 4hr pin bar

snapped up a quick profit on this trade

- bought on the close of the bullish pin bar at trend line support
- higher low

- stop loss below low of pin bar at 960.2
- conservative take profit at 974 due to bearish nature of daily trend

 

[dgtrading]

short EUR/JPY and Platinum overnight profit

EUR/JPY

- close below previous low to form lower low
- close below moving averages
- moving averages still crossed to downside
- stop loss above previous high at 137.481
- very conservative take profit at 133.935


Platinum

- bearish pin bar in line with short term down trend
- moving averages closed to downside
- close below moving averages
- stop los above high of pin bar
- conservative take profit at 960.9

 

[dgtrading]

highly enjoying my new style of trading of taking quick profits. Others will criticise saying you need big winners to cover losses however I am having a very high winning percentage trading this way so far.