AUD USD long
My daily indicator is long, the 4 hour has recently crossed short
The last daily candle is of a 'hammer' type formation, its 'tail' / wick indicating rejection of lower prices at this point in time, just above a recent daily resistance (Feb) and support (March) level
I have placed an order to enter long @ 1.04 30 with a stop @ 1.03 80 (risk -50pips)
Target 1 @ 1.05 20
Target 2 @ 1.06 00
Target 3 @ 1.07 70 (trailing stop to)
My daily indicator is long, the 4 hour has recently crossed short
The last daily candle is of a 'hammer' type formation, its 'tail' / wick indicating rejection of lower prices at this point in time, just above a recent daily resistance (Feb) and support (March) level
I have placed an order to enter long @ 1.04 30 with a stop @ 1.03 80 (risk -50pips)
Target 1 @ 1.05 20
Target 2 @ 1.06 00
Target 3 @ 1.07 70 (trailing stop to)
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EUR USD short
My daily indicators are short and 4 hour long
Price has printed a daily rejection candle (shooting star) at the level of a previous daily high (March 15th) confluent with the 38% fib re-tracement level of the recent daily down swing
I have placed an order to go short part way back into this daily candle @ 1.30 90 with a stop above the high of 1. 31 25 (risk -35 pips)
T1 = R1 @ 1.30 55
T2 = 1.29 90 (R3) and
T3 trail to recent lows @ 1.27 50
My daily indicators are short and 4 hour long
Price has printed a daily rejection candle (shooting star) at the level of a previous daily high (March 15th) confluent with the 38% fib re-tracement level of the recent daily down swing
I have placed an order to go short part way back into this daily candle @ 1.30 90 with a stop above the high of 1. 31 25 (risk -35 pips)
T1 = R1 @ 1.30 55
T2 = 1.29 90 (R3) and
T3 trail to recent lows @ 1.27 50
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Re: EUR USD short (Secondary trigger)
T1 = R1 = 1.30 60
T2 @ 1.30 00 (+100 R=2.5)
T3 trailing stop to 1.27 50, if seen
4 hour trigger printed, order short @ 1.31 00 stop 1.31 40 (risk -40pips)
T1 = R1 = 1.30 60
T2 @ 1.30 00 (+100 R=2.5)
T3 trailing stop to 1.27 50, if seen
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Re: EUR USD short (Secondary trigger)
T1 achieved. stops on remaining parts moved to break even @ 1.31 00
Re: EUR USD short (Secondary trigger)
Break Even stop hit on retrace, for NIL on remaining two parts
Break Even stop hit on retrace, for NIL on remaining two parts
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GBP NZD short trigger
My daily trend indicator is short, the 4 hour long
I notice this pair has been consolidating, following a significant down move (on the daily and weekly time-frame)
Price has retraced to the top of the more recent range and a 4 hour rejection candle printed, indicating rejection of higher prices at this time.
This trade set up is an opportunity to trade back to the bottom area of the range (risk reward is almost 3 times, should it come off) with the added unlimited potential of a further break into empty space, as price is making new all time lows
My order to sell is at 1.81 55, with a stop @ 1.82 80 (risk -125pips)
Target 1 is R1 @ 1.80 30 (+125pips), at which point I will move remaining stops to breakeven
Target 2 is at the present daily bottom @ 1.78 00 (+355 pips, R=2.8) and
Target 3 will be a trialing stop, until taken out
My daily trend indicator is short, the 4 hour long
I notice this pair has been consolidating, following a significant down move (on the daily and weekly time-frame)
Price has retraced to the top of the more recent range and a 4 hour rejection candle printed, indicating rejection of higher prices at this time.
This trade set up is an opportunity to trade back to the bottom area of the range (risk reward is almost 3 times, should it come off) with the added unlimited potential of a further break into empty space, as price is making new all time lows
My order to sell is at 1.81 55, with a stop @ 1.82 80 (risk -125pips)
Target 1 is R1 @ 1.80 30 (+125pips), at which point I will move remaining stops to breakeven
Target 2 is at the present daily bottom @ 1.78 00 (+355 pips, R=2.8) and
Target 3 will be a trialing stop, until taken out
Attachments
Re: GBP NZD short trigger
Order triggered open and price touched T1 (but no profits taken, due to spread), so stops have been moved to breakeven on all three open parts
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CAD JPY long trigger
My daily and 4 hour indicators are long
The last weekly and yesterdays daily candle both indicate rejection of lower prices (long tailed 'hammer' type formations)
Price has retraced to 50% of the previous 4 hour up move (end of last week)
I have placed an order long, about half way back into yesterdays daily candle @ 96.50 with a -75pip risk stop at 95.75 (4 hour swing low)
Target 1 = R1 =+75pips @ 97.25
Target 2 = recent daily high @ 98.75 (R3)
Target 3 = trailing stop )essentially looking for a break higher on the daily time-frame
My daily and 4 hour indicators are long
The last weekly and yesterdays daily candle both indicate rejection of lower prices (long tailed 'hammer' type formations)
Price has retraced to 50% of the previous 4 hour up move (end of last week)
I have placed an order long, about half way back into yesterdays daily candle @ 96.50 with a -75pip risk stop at 95.75 (4 hour swing low)
Target 1 = R1 =+75pips @ 97.25
Target 2 = recent daily high @ 98.75 (R3)
Target 3 = trailing stop )essentially looking for a break higher on the daily time-frame
Attachments
Re: GBP NZD short trigger
T1 achieved and profits taken on initial position
Remaining two positions stopped out at break even
T1 achieved and profits taken on initial position
Remaining two positions stopped out at break even
Attachments
EUR USD short
My daily and 4 hour trend indicators are short
Thursdays daily candle was of a shooting star type of formation suggesting rejection of higher prices and this point in time
I have placed a short order @ 1.30 15 with a 40 pip risk stop at the highest point of the retrace into Thursdays bar on Friday morning @ 1.30 55
Initial target is R1 @ 1.29 75 (+40pips)
target 2 the recent lows @ 1.29 15 (+100pips R=2)
target 3 is a trailing stop loss to the years lows @ 1.27 55
My daily and 4 hour trend indicators are short
Thursdays daily candle was of a shooting star type of formation suggesting rejection of higher prices and this point in time
I have placed a short order @ 1.30 15 with a 40 pip risk stop at the highest point of the retrace into Thursdays bar on Friday morning @ 1.30 55
Initial target is R1 @ 1.29 75 (+40pips)
target 2 the recent lows @ 1.29 15 (+100pips R=2)
target 3 is a trailing stop loss to the years lows @ 1.27 55
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Pat494
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Hi
Well you have certainly kept going since you started 2 years ago.
If I was to comment I would say you are putting a lot of emphasis on entries. From a spectators point of view there is not much on how the trade turned out. This might help your game too. Analysis of what went right/wrong and why and what you will do about it in future trades. Running totals on different strategies etc. P&L too
Helpfull criticism hopefully
Well you have certainly kept going since you started 2 years ago.
If I was to comment I would say you are putting a lot of emphasis on entries. From a spectators point of view there is not much on how the trade turned out. This might help your game too. Analysis of what went right/wrong and why and what you will do about it in future trades. Running totals on different strategies etc. P&L too
Helpfull criticism hopefully
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Hello Pat494
Thank you very much for posting to my thread
Yes, very constructive criticism, thank you
You are right, my focus is very much set up and entry based, as my trade management is completely passive (I'm a 'set and forget' trader, as I haven't achieved emotional mastery and I am not always able, or indeed necessarily willing, to monitor the markets or my individual trades intra-day, every day)
I try to always post updates to trade set ups that I have posted, but they will be pretty boring (trade open, stops hit: trade removed as initial target level achieved without order being triggered open: order opened, initial target achieved, stops to break even on remaining parts, etc, etc)
What I haven't done is kept a running total of all of my trades performance, by set up type. That I agree would be useful to me as (now you have made me think about it) I don't clearly differentiate between the different set up strategies I regularly use and to do so may provide some useful feedback
I'll see if my records are good enough to pull something together to post for the current year and then aim to maintain it each month
