Predicting Short-Term Direction and S/R Using Indicators

Out of the EUR/AUD Daily chart trade. I noticed I had the decimal in the wrong spot on the initial chart, my apologies.

In at 1.66985
Out at 1.66785

I normally don't like to put a take profit exactly at whole number pip increments, but I was moving it and it worked out that way. Makes the math easy, though. Probably has some more pips to squeeze out, but I'll take my goal and be happy with it. Greed has killed me in the past, so I trade as emotionless as possible. Options trading has taught me that.

GBP/USD 30min chart trade.

Should be good for a few pips....

Did what was expected. Just over 17 pips.

A EUR/USD trade off the 4hr chart. Entire body of a candle outside the BB.

I don't normally trade this pair because it is so slow, but a setup on a 4hr chart is worth it.

Same with the AUD/USD 4hr chart. Entire body of candle outside BB....

A trade off the EUR/YEN 15min chart.

Although AUD/USD didn't drop as indicated, the current 4hr bar is high outside the BB, as well as the 30min, so I added to my position at 0.65876, breakeven is now at 0.65759. Should still make some pips off this.

EUR/USD is pretty much the same as this one, but I think it will just wind down s-l-o-w-l-y on its own.

One of the downfalls of trading currency in the US is that if you can't trade during the day, from 5:00 until midnight is pretty slow. And a little erratic at times due to lower volume.

Didn't materialize fast enough. Out with just a couple of pips.

Sorry, uploaded the wrong chart initially. This is the correct one.

Out of EUR/USD 4hr chart trade at 108.994 (In at 109.004) for one whole pip. See why I hate the EUR/USD??

Out of EUR/AUD 4hr chart trade at breakeven of 0.65759. It initially went against me, but at least it was moving. EUR/USD just kinda sat there all evening.

I can't hang for the London open. I don't like to hold a trade at an open unless I'm at the computer, so I'm shutting down shop for tonight.

Trade off the GBP/USD Daily and 4hr chart.

A trade off the USD/JPY Daily and 4hr charts.

Didn't take long on the USD/JPY trade.

in at 1.2084

hopefully breaks through ema 50 on the m15

given timing and pre london reversal....added a bit more at 1.280

GBP/USD trade didn't materialize, so got out at pretty much break even.

I can not stress enough how watching the different time frames for entry/exit signs are so important. The trades may not materialize as expected, but there are signs on the other time frames this will not occur as expected. To stay on only one time frame just does not give you a big enough picture of what is happening. And if the trade doesn't materialize, just get out of it. And if materializes later on, get back in it. So many people get married to their trade they just don't want to let it go. Some of the guys I used to trade with would do that all the time, and the main reason was they didn't want to be "wrong" so they could say they had X number of winning trades; it was 100% an ego thing. Just watch the other time frames and they will tell you if the trade is going to happen or not and if not, get out and move on. I am correct at predicting direction much more than I am wrong, but when I am wrong, I do everything I can to minimize the impact, and that normally results in either a small profit or a small loss, all because I check the S/R levels on the other time frames.

Back in the GBP/USD trade off the Daily chart.

Didn't take long. Probably has some more pips to go, but I'm out and done for the day.

Have a good weekend and good trading!

A trade off the USD/JPY Daily chart.