The Road To Profitability

[Shuanl0ol]

Latest trade

Didn't have the time to post my first trade for the year so I'm doing it now, I went long AUDCHF and the trade ended up being a winner with a 0.75R with a 1% risk.

As we can see price found resistance at 0.9500 and traded into the previous range of ~ 0.995 - 0.960... I exited at the first trouble area (around 0.980) mainly beacuse price lost it's upward steem and liquidity was about to dry up (final hours of N.Y. session).

 

[Shuanl0ol]

Audcad

I'm currently looking for some bullish price action around 1.05 level, price has been forming a flag with quite a small range.
Below I've stated the possibilities and what I'll be looking for:

It seems very likely that it will break on the north side and retest the flag, if it holds I expect it to continue further north. If not we will break south and see price correct itself and test the 1.05 level or it might just simply break through as a knife and trade into the previous rectangle. If the latter is the case I won't be looking for longs until price reaches ~ 1.025.

Remember I view these S/R level more as zones and not as an exact science so when I post a "level" give or take a few pips on that.

Regards

 

[Shuanl0ol]

GBPUSD potential short

I'm looking for price to reach the 1.61 level, I hope some bearish price action will be shown and I would feel strongly confident regarding the potential setup around this level only if price manages to take out the previous highs. There might potentially be lots of stops and limit orders that has been put there thus a great order flow and a great liquidity pool for the big players. Lets see.

 

[Shuanl0ol]

My ****up

In october a great trade presented itself partially beacuse my anticipation of BOJ would intervene on the FX market again to prevent their economy falling into deflation which would end up with a vicious economic circle.

Anyways, I was sure that they would intervene and USDJPY had been trading in a very narrow range for the past days. This was probably beacuse that the big players also anticipated the intervention and knew more about it in detail than I did. I mean if I know something it is likely that they know something too but x3 lol.

So I began looking for longs with a tight tight stoploss to catch a big winner that would make my account rise by double digits in the upper 20 percent figure.
I placed my order at market with a 33 pip SL as seen in the first attachment (SL = red line).

Attachment number two tells you the rest of the story. The idiots (me and you most likely) place their stops at very obvious levels, which this most certainly was. Leading to a huge order flow forming below the lows on my first attachment which again is a gold stone for the big players (great liquidity at that level).

For them (the big players) its like taking money from somebody who wants to give it away, and if they end up losing they might as well say "well it was partially your money anyways" great excuse hehe. All they need to do is to place their limit orders. :clap:

 

[Shuanl0ol]

AUDNZD short

I'm currently short AUDNZD after a nice setup that occured after price took out previous swings (circled area) and after price broke through previous support and manage to make a retest confirming that the level had turned into resistance.

I'm not really sure where I'm getting out of this, I will however decide this depending how price closes tomorrow at the end of N.Y. session.

Currently up 0.7% already on this, lets see how it plays out during London session.

 

[Shuanl0ol]

AUDNZD update

I closed my AUDNZD trade for a +22 pips (+0.4%) which obviously is a dissapointment. Trade was up +85 pips but due to a decrease in inflation expectations price moved back towards my entry.

 

[Shuanl0ol]

Re: Audcad

I'm currently looking for some bullish price action around 1.05 level, price has been forming a flag with quite a small range.
Below I've stated the possibilities and what I'll be looking for:

It seems very likely that it will break on the north side and retest the flag, if it holds I expect it to continue further north. If not we will break south and see price correct itself and test the 1.05 level or it might just simply break through as a knife and trade into the previous rectangle. If the latter is the case I won't be looking for longs until price reaches ~ 1.025.

Remember I view these S/R level more as zones and not as an exact science so when I post a "level" give or take a few pips on that.

Regards

It broke south and currently testing the level. I'm waiting for further price action.

 

[Shuanl0ol]

Audcad

I'm now short this pair, a confidence boost on this trade would occur if price makes a hard-break through 1.05 level. Don't know where my target is yet, will depend on how price behaves the upcoming hours.

Risk: 1.5%
SL: 1.062

 

[Shuanl0ol]

Re: Audcad

I'm now short this pair, a confidence boost on this trade would occur if price makes a hard-break through 1.05 level. Don't know where my target is yet, will depend on how price behaves the upcoming hours.

Risk: 1.5%
SL: 1.062

Exited my trade with a R:R of 1:1. Price has reached an area of consolidation (problem area) so i decided to bank in my +1.5%.

Happy weekend.

 

[Shuanl0ol]

Gold

Just placed a long limit order on gold at 1705.60.. SL at 1685.

I'll post a chart tomorrow.

 

[Shuanl0ol]

Re: Gold

Just placed a long limit order on gold at 1705.60.. SL at 1685.

I'll post a chart tomorrow.

Got stopped out for -1%, which was a bummer... price turned at my SL. Typical .

Below I've attached a H1 chart in which I based my stoploss on... I will strictly try to not base my SL's (or anything else) on H1 charts again. I'm just not ready for that. My SL is at the bottom horizontal line.

 

[Shuanl0ol]

My current positions

I'm long gold with a 2% risk, and I'm long AUDCAD with 1% risk and currently have placed a limit buy on USDSEK.

I'm in the money on the two trades I'm in (AUDCAD and Gold) for now at least.

 

[Shuanl0ol]

Re: My current positions

I'm long gold with a 2% risk, and I'm long AUDCAD with 1% risk and currently have placed a limit buy on USDSEK.

I'm in the money on the two trades I'm in (AUDCAD and Gold) for now at least.

My gold position just reached its target. Just cashed in 3.2%.

 

[Shuanl0ol]

Audcad

Just closed my AUDCAD long position.. could have gotten out at a better price but **** happens. Got out for a 0.8% gain.

 

[Shuanl0ol]

EURSEK and USDJPY

I'm currently long USDJPY 82,455 (its in a draw down at the moment). I went long EURSEK too. However my long EURSEK position resulted in a 2% loss.

I'll be holding my USDJPY position over the weekend, SL is held at 81.80 (2% risk).

Cheers

 

[Shuanl0ol]

USDJPY update and new trade

Hi peeps,

I was stopped out on my USDJPY trade for -1.6%. I decided to close the trade early since price had reached no mans land.

I set a short limit order on GBPCAD yesterday which was hit today, trade is currently +72 pips and my target is around 1.56.

Cheers

 

[Shuanl0ol]

Re: USDJPY update and new trade

Hi peeps,

I was stopped out on my USDJPY trade for -1.6%. I decided to close the trade early since price had reached no mans land.

I set a short limit order on GBPCAD yesterday which was hit today, trade is currently +72 pips and my target is around 1.56.

Cheers

Got out on my GBPCAD trade for a loss (-1%), managed to reduce my loss to a 1/2 of my original risk, bla bla bla.