Time for Change - Pivots & Harmonics to freedom

OK so trade 23 was another EU short. Gotta love shorting the EU with that swap, what a beautiful carry trade. Trade lasted 20 days. Made $450 off the swap and $1,735 off of the trade itself, for a total of $2,185, (17% on the account). I do think the euro will continue lower but at my $40/pip position size I'd had enough, being flat feels good, and I am expecting at least a short term bounce. Plus, tomorrow is Friday. Done for the week. $17,689 in straight up profits since June 21st, all off of a $1,700 deposit!

Beautiful long off the S78 on AC. Trade lasted only 21 hours only like 3 pips of drawdown. Made $843, or about 6% on the account. 24 winners in a row now. At this point, if I can make it to June 21st, it would be a full year of trading without a single loss!

Whew! Holy crap what a waste of time. Started building a short position on AN in early April, sat through a bunch of drawdown and paid an average of $10/day in negative swap. FINALLY OUT! All in all, after the swap, it was a $965 profit, 7% on the account. This was another instance of having to deposit additional funds to cover the margin ($5k) but as of now this has all been pulled back out. AN may continue down but I am not taking any chances getting stuck in this boring pair any longer, especially with the upcoming US-China trade talks at tomorrow's G-20 event.

It has been 1 full year since I started this trading method. Happy to report a total of 25 trades, all winners. Sure, some of the trades had horrible R/R, but allowing the trades to play out and having conviction in my analysis allowed me to have a 100% win rate for the year. Net result is $19,473 in profits, off of a $1,700 account which is 1,145% in 12 months!!!

The goal for the next 12 months is to have more trades like the AC trade above, and less like the AN debacle I just got out of. I have no intention of going another 12 months without a loss, and I know it is only a matter of time. I'm taking today's NY session off and will be looking for a new trade this PM.

Ok new trade; Sized at $20/pip (215,500 units), long UJ at 107.69 off the pivot targeting R38, roughly 60 pips. Will double the position size if it gets to S38 at 107.04. Stop would have to be about 100 pips.

Coming off a large bull candle on the daily and breaking up and consolidating above the pivot on smaller time frames after being rejected from the S38.

Also EU & GU have been on a bull run so I would expect a retrace on those, giving some room for USD to gain. Coming into G-20 its going to be buy the rumor until actual news is released end of day Friday.

I wish all my trades would work out that easy. Trade took 4 days (including the weekend), less than 10 pips total drawdown. Added another lot on the way up for a total of 3 lots. Plus $1,537. 10% on the account. Knew that G20 would yield positive news on the Chinese trade deal so staying long over the weekend was a no brainier. Got out in case the gap fills but will be looking for more longs on this pair this week. That's 26 in a row now! 21k in profits.

And another. Trade #27. Super quicky. EU was falling through S38 at beginning of NY session, shorted as it started having M5 closes under. Only 3 pips drawdown on this one. Whole trade took just over 2 hours. +$653, roughly 4% on the account. No pic on this one as I was at work, just using the pivot data from ActionForex and my cell phone.

Long EC off the S61 targeting S38, roughly 40 pips. May try a tighter stop on this one not sure yet, will depend on price action and what EU ends up doing.

And out. 24 pips drawdown for roughly 4% of the account. 1/1 rr for a 4% gain of $688. Cut it just a bit short from the original target because it was starting to spike and this sucker was going to cost me $30/day in negative swap if I held. Trade #28

Trade #29 was a long UJ. This one was not as clean as the previous 2 trades, and was more fundamentally based. Had about 50 pips of dd for about 10% on the account, and closed the position at +20 pips for a profit of $791 (including positive swap), or roughly 4% on the account. I am bullish UJ and hated to close this, but hourly earnings & unemployment came in severely red with this morning's NFP, and so I would not be surprised to see this rally faded throughout the rest of the day. And no reason to be greedy, as this week alone I closed $3,607 in profits for a total of 23% on the account. Not bad at all! Plus I will enjoy being flat this weekend.

I would like to study with you. and hope to develop the skills required for this

Trade #30, a real beauty! Only 10 pips of draw down, and 46 pips of profit. +$1,500 (including positive swap) 8% on the account in less than 24 hours. A true combination of fundamental analysis and techs. I won't go into the fundies here, but will post the techs below. It was a buy at the base of consolidation created during Friday's move, with a take profit level at the R61. This may pull back here at R61, tempted to short here, but will remain flat for now.

EG short. Broadly fundamentally based using pivots as a road map. With FOMC tomorrow I want to avoid USD exposure, and I am anticipating and end to the crazy long run up we've seen on EG over the past 47 days. On shorter time frames price action is showing weakness. Initial target is the pivot, roughly 40 pips away, but I'd like to hold this trade for much longer. GBP GDP overnight will move it one way or another.

Too many traders short on this now, likely it will pop and break 0.9. Drawdown of 16 pips on this trade. Closed for +23 pips, $716 including positive swap, roughly 3.5% on the account. That makes $2,216 for the week, 12% on the account. Done for the week. That's trade #31.

Shorted CJ looking for an eventual break of S38 as its stacking up on that level pretty hard and the daily is in a clear down trend. CAD is overbought against many other majors. Targeting S100, roughly 40 pips.

What a beauty that turned out to be! The swap sucks but CJ really respects the pivots. 30 pip (7%) drawdown but that is well within my safe zone. Check out the levels shown below, almost right to the pip. The touch to the R38 really helped me load up on this trade. Made $1,261 on it after the swap, +6% on the account in 48 hours. That was trade #32.

Trade #33. EG Short. This sucker has rallied 550 pips without a meaningful retrace. Trying to break back below the R100 and if it does it could drop hard and fast.

Trade#34. First time within the trading journal (and one of very few in my 9 years trading) where I am taking on 2 positions at one time. No correlation between the two, and this, the AU trade, is starting out small at only 1 lot. I fully expect some drawdown here and I will add to the position accordingly. Horrible employment numbers just now and it spiked up. Whenever price does the opposite of what is logical, that only means there is some big money maneuvering around, could be setting up a nice short.

Closed the EG trade overnight for +3.4%, $773. Wanted to let it run longer but I did not trust some of the brexit related news that came out over night. I will try to get short again if it allows.

Very well done!!!Nice trading..