Nice start to the week so far. My UCAD is about to hit my profit target. The prevalent pattern persisted & I won't be greedy here. I'll reload longs on the next higher low.
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DislikedNice start to the week so far. My UCAD is about to hit my profit target. The prevalent pattern persisted & I won't be greedy here. I'll reload longs on the next higher low. {image}Ignored
DislikedI'm beginning to see some cobwebs develop on the thread here. I wanted to post a pure price action trade I was filled on yesterday. It's the GBPUSD aka sterling aka cable. Anyhows... A major support was broken a few weeks ago indicated by the red line. This is one of those where I set a pending order & walked away with no stops or anything. I had a really good feeling price would bounce at least a bit here & so far it has. Just your classic role reversal trade setup. Nothing fancy. It's why I love Price Action trading. Hope everyone is well & to...Ignored
DislikedI wanted to post a follow up to the Price Action setup I took on GU earlier this week. It's well into profit now. SL has been moved to +80 pips & TP looks as though it might be filled before the weeks end. Overall this was a fairly straight forward setup with previous support turned resistance. {image} UCAD also finished up nicely with over 200 pips profit on the trade. Hope everyone has a nice weekend & Don't forget the SNB's vote on Sunday evening. It 'could' be significant... Or not??Ignored
DislikedHello GS good to hear from you & glad your trades have been doing well. If you read my previous post about 3 DRIVES you'll see today's PA on the UJ has completed the pattern pretty nicely. The 1st leg was 65 pips & the last two were equally 70 pips to the tee. Not quite as perfect lol as the EU on Wednesday where all three legs were exactly the same length nearly to the pip... But it gave me a very nice entry last night that hit my Profit Target this afternoon. {image}Ignored
DislikedRecently someone wrote me a private message asking for my definition of an "exhaustion" candle. As this person did not wish to have his views public (for obvious reasons) I thought I would answer here. It is a legitimate question as I have mentioned it in my trades a couple of times. First off let me say, as far as I know there is no generally accepted "definition" of an exhaustion candle. for me it is more a concept than a specific pattern that requires definition or criteria. I'll explain it to you this way: As we all know price movement is the...Ignored
Disliked{quote} Excellent Explanation! You are a Good Teacher! My Complements! Looking forward to read many more trades here from you. Thank you.Ignored
DislikedMy plan is simple...sell rallies in a down trend...buy dips in an up trend...watch for ranging markets and then buy the bottom of the range...and/or sell the top of the range....that's it...no complicated oscillators...moving averages...or gee whiz indicators. I invite your participation.Ignored
Disliked{quote} Ok, I'm a bit confused with what's going on with this thread, the current explorer trades are not in line with the initial premis. Apart from the the CAD trade which is at least with the trend, I don't understand why you are currently buying lows in EU & GU. This is not selling rallies or selling tops of ranges, it's contrarian trading. The gold trade is similarly unclear. Are you anticipating a trend reverse here? Last point, where are the Yen trades? Aussie? major trending pairs that really don't come more obvious. Sorry I don't want to...Ignored