PA Trading with EMAs and common Sense

BTCUSD 1M (DEMO)

just following the trend!


the next reaction off ema50 will be watched closely, if it breaks below and holds i'll close manually

lock some in just in case


ran out of steam, resistance was too strong, pin bar to the left was a sign

BTCUSD 1M (DEMO)

so went short after close of previous trade expecting a break below ema200 and targeted accordingly down to a support level - had to cost average two more positions after the uptrend had one last gasp trapping a whole bunch of longs providing the momentum needed to reach my target...

BTCUSD 1M (DEMO)

now long again after rejection of breakout at support...


then cost average in one more order as more shorts get trapped, targeting a break above ema200 just below previous high to cover spread for a faster exit...


couldn't resist another order as more shorts are lured in expecting the downtrend to continue when the EMA's are suggesting otherwise...

first was a breach of ema9, then a breach of ema20, then ema50, so next is ema200 once the faster ema's cross each other then break above ema200...


that's just the way it is!

and that's the way to end the weekend, 100% - check out the positive slippage on that last order, amazing!!!

Great job pal, well done

appreciate the support, thanks mate! still just practicing with bitcoin on the weekends but i am starting to feel its rhythms!

AUDUSD 1M

after taking profits on the spike from the news i expected a retrace of the move so entered short targeting around ema200 with a higher than usual but reasonable target - no cost averaging was initially planned just in case the sentiment continued, in this case it did not...




and returned to profit after a small drawdown...


it was all on track and i was about to post this image with the smug comment "now just let the ema's do their magic!"


then, thinking it would be the right thing to do without really thinking, i set a BE sl on ema200 AT THE EXACT MINUTE that bar spiked up and took me out!!!!



so of course its no surprise what happened next...





bugger, oh well, onto the next one!

AUDUSD 1M

long off support targeting break of ema200 just below previous high, the faster ema's crossing below ema200 suggested a weak downtrend, failure to break the support level confirmed it


then another entry as it attempt to push lower and fails



then it just scrapes my target and moves lower again after hitting resistance - now i anticipate a retest of support and bounce back up to target, so adjusted targets accordingly



as anticipated, it retested support and formed a double bottom which was reassuring, so i wan't too worried about this next downswing going too far


the downswing only retraced about 50% before bouncing back into target, closed manually due to price action just below modified target and just above original target for a nice profit

AUDUSD 1M (DEMO)

short off resistance targeting return to ema200

AUDUSD 1M (DEMO)

anticipated moves in both directions so traded accordingly!

AUDUSD 1M

long off support anticipating return to previous high...


and it return to previous high!

EURUSD 1M

long off support, failure to break and hold below ema200, preceding price action provides leading indication of future price action, conservative target just below previous high


after seeing confirmation that my leading indicator provided a solid lead, i was confident enough to lift target to same level as previous high for maximum profits...


which of course is always the goal!

AUDUSD 1M

the reality of trading and learning to control emotions...

not every trade goes to plan, like this one where i got greedy and took BE out of fear instead of taking profits earlier or letting it run, then, another opportunity presents itself as a new support level builds up and i failed to take it due to uncertainty as the bearish pressure was strong, only to see it reach potential targets!


that's the reality of trading that needs to be controlled!

AUDUSD 1M (DEMO)

a demo trade helps me tune back in!

GBPUSD 1M (DEMO)

pre news entries, post news results!

AUDUSD 1M

long off support after double bottom targeting below previous high, the bearish bar after entry that broke the double bottom trapped many shorts!


as price breaks and holds above ema50, target is lifted to maximise profits...


then after one final push down, more shorts get trapped and provide the force needed to reach my target...

AUDUSD 1M

second time lucky!!!

AUDUSD 1M

third time lucky!

now i'm pushing my luck! that's enough for now... maybe demo trade the news later!

Price Action and EMA's or MA's in general always tell a story and never lie - it just requires common sense to understand the story being told!

much the same when learning to read a book as a youngster, at first we learn to pronounce the words but don't fully understand their meaning, the pictures are a lot easier to understand but don't tell the full story - so we are left guessing

over time, as our reading abilities improve, the guesswork is reduced and then eventually eliminated to the point where we no longer guess what the words mean when reading a book and the pictures serve only as a supplement

relying on indicators for trading signals is like reading just the pictures out of the book - a LOT of information is missing, and leads traders to believe that reading price action is too hard, or it's all guesswork!

reading price action is hard and a lot of guesswork is required in the beginning, but over time, the guesswork is reduced then eliminated much like learning to read a book... that's my experience anyway...