Support, Resistance etc

AUDCHF

Loss -124 pips. Late in the trend. I thought I could take advantage of another down leg but it didn't happen.

NZDCHF

After 3 weeks of pampering this trade is finally over. Not much profit but still 59 pips profit nevertheless.

The reason I entered this trade is because it made a small move up, stalled and looked like it will continue. It did continue but it didn't took off. So after 3 weeks of yoyo up and down I decided to close it and take my profits in this. The reason I closed it is the resistance that has developed last week and the bounce it made from it with yesterdays candle. I did consider to put a TP in the resistance but then again I thought maybe let it run. It didn't so i closed it. Maybe it is a good opportunity for short but I don't think it can go far so I won't take it.

NZDCAD

This is the nature of forex market. You have to be fast to grab your piece. I kept this trade open for two weeks. It was made because of the DC breakout. Went to loses and back up to wins. I moved my stop to break even because it went deep at the green. Maybe I should have taken my profits when I saw price stall. After all I did see yesterday NZD getting weak.

The stop is hit and I am out with 3 pips profit. Given back 76 pips.

AUDJPY

This pair went through a place full of supports, got rejected there and seemed like it was heading upwards. I placed a pending order which thankfully didn't trigger and the pair turned downwards. I canceled as soon as it crosed the stop loss line.

EURNZD

I tried to take advantage the breach of 20 days DC. Again a pending order for short which didn't trigger. The trade got canceled as soon as price crossed the stop loss. Then the price proceeded it's merry way upwards. Lesson to learn here: "Trading needs balls. A failed signal is a signal on it's own. How many times before have I regretted for not taking the failing signal?"

USDCAD

This is one of the trades that make you think "WTF?". Price made a swing upwards and seemed like it stalled at previous resistance. It even made a pretty 2 days pinbar in there. Anyway I placed a pending sell there just to be filled in the lowest price and then proceeded to move within a narrow box and getting rejected on the resistance. And then it made a spike up just to take my stop and now it is mowing happily in the intended direction. Loss -90 pips

CADCHF

This trade was intended to take advantage the DC breakout. It didn't took off and for 3 weeks it was just staying there doing essentially nothing. It created a support place a bit lower. When it visited again that support and bounced back I figured that it is better to just close it and wait for an opportunity later. Profit +67 pips.

GBPUSD

Two gravestone dojis in a row hinting for a potential reversal and an opportunity for a quick 87 pips. It didn't happen and the trade was canceled as soon as it crossed the stop loss.

CHFJPY

This pair bounced from former support and later resistance with a beautiful rejection pattern and a big bullish bar engulfing that pattern. Since it was just a trade inside consolidation and wasn't intended as a trend following trade I got out as soon as I saw trouble. Profit +60 pips.

CADJPY

Another quick pips for me. Rejection of previous resistance, backed by rejection of lower 20 days Donchian line and the trendline. Took the profits and ran like I stole them. Profit +86 pips.

GBPJPY

It didn't look pretty. Again bounce from previous resistance, beautiful rejection pattern, price above MA(100) etc. Unfortunately a pinbar last Friday and the continuation today made me get out. Profit +24 pips.

EURAUD

This week has not been kind with me so far. Last Friday I had an open profit of more than 700 pips in various positions and today (Tuesday) my account stand at -652 below that high. Talk about giving back profits. It seems that I can make pips but I can't keep them.

Anyway in this trade I moved stops above break even because price moved too fast and is the second leg after the consolidation. I didn't want to risk this trade to turn to a loss. Profit +11 pips.

GBPCHF

I set a pending order to take advantage the DC breakout. Didn't happen. Trade canceled. Entered long.

GBPAUD

This is the part I hate mostly. I had a good profit of 93 pips which instead ended as a loss of 183 pips.

EURCAD

Breach of the lower DC that didn't trigger a trade. Short trade is canceled (circled area in the second image). I didn't go long on this because I am not very confident in this kind of trades.

Now it has broken the upper DC but I am not entering long because the stop will be very large.

AUDUSD

The same scenario with the EURCAD above. I really have to test the "failed signal equals a signal" theory.

AUDCHF

Took the Lower DC breakdown. The price moved a total of 139 pips in my favor before turning around. I got out when I decided there is not much momentum to keep it going downwards. Profit +7 pips but still a loss because of the swap. A minor insignificant loss. -1.11€

GBPCHF

I took this trade long because of the big bullish bar which also bounced off previous support (black line). Unfortunately it filled me long and the ran straight to the stop. Loss -142 pips.

The sell lines on the current chart are from my current pending order. Not related to this post.

GBPUSD

Another failed breakdown. Loss -106 pips

USDCAD

Rejected price twice in the same spot. When the price fails twice to penetrate a level it goes in the opposite direction. I had set my TP to the first resistance point. Profit +50 pips. Not a big deal but hey, they are pips.