Gbp/USd looks a lot better to trade at the moment than Eur/Usd. It is close to 200 sma, Just broke out of a flag on daily, a pennant formation on weekly, looks like it could be a trend change on weekly. So, that's my trade for the day.
Trade 12 stopped at BE, will reevaluate over the weekend to see if any pairs look interesting. If there are no other pairs that look interesting, will wait for pull back to finish on gbpusd, and try it again.
Looking at monthly and weekly charts, the only two pairs that look halfway decent are GbpUsd, and NzdUsd, will be going long on one or the other or possibly both next week.
Trade 14 closed at BE
Trade 15 was entered and stopped out almost immediately. Will see what it looks like tomorrow, if it doesnt close much lower than where it is, I will buy again. If it does I will probably move on to another pair.
Starting over on this, same trading method. New trade explorer attached. Will not be updating trades near as often. They will all be in the trade explorer. First trade is in, is not showing up. Anyway, I am long Eur/Usd currently -2 pips.
Looks like trade explorer may not work. Since I am using Oanda with really small lot sizes, it does not appear to be seeing my trades. It is unfortunate, but, it is what it is. If it does not start working in the next day or two I will remove it.
First trade was just moved to BE +1, second trade just entered long on EurUsd. Entry at open of candle, currently -2 pips.
First trade up +21, still could easily get stopped out of both, and likely will.
This entry is definitely not the best way to enter, stop losses are way too small for the daily. He used small stop losses because he likes risking 30 pips for a chance at 1500+. I understand that, but, with 30 stop loss you will lose a lot more positions than you would with a more reasonable stop at bottom of daily bar. Or at 100 pip stop loss.
Going to continue with the method, just as Pipeasy laid out. Pretty positive the loss will be about the same either way. May even lose more pips with 30 pip stop than you would with 100.
Want to give it a thorough test with what he posted before changing anything. My guess is a larger stop will be as successful, probably more so. And will have far less entries, and much less frustration.
Thought I would mention a little bit about why I decided long on EurUsd. Looking at the monthly timeframe we have been in an uptrend since May 2025. It has been ranging for the last 8 months or so. On the weekly, it has broken out of a consolidation it has been in for the last month or so. Has recently broken through resistance on daily around the 1650 area. Could easily still be in a larger consolidation pattern. Or just be a false break, who knows. If this does turn out to be resuming previous uptrend, I will be in a good spot.
Looking at monthly, it is possible that this could be a double top, or head and shoulders pattern. Fact is, no one knows for certain. As more bars paint the picture may be more clear.
My job is to open positions with the long term trend, get stop to break even, and let the market do what it will.
I remember Pipeasy. Trading the Millipede. I was even thinking about that recently, about what a great idea it might have been to start building into Gold a few months ago. It's tough to do. Even when gold was trending strong, we didn't see a lot of $300 take profits being hit. We all trade for like 10 to 50 bucks. Do you think Euro is going to make a long term move? I don't remember what Graeme was trading, maybe back when PoundYen was trending.
Ignored
If it resumes the uptrend, it most definitely could make a huge move. Not trying to predict, could just as easily go straight down.
Yes, very difficult to get legs, even more difficult to hold onto them long term. I have traded Equity Millipede many times. Caught the very beginning of the uptrend on UJ several years back. Closed it out way, way too soon. Those positions could have still been in today, would be up 8000 pips a piece now. Price never came back.
This concept has intrigued me for years, never had a really good go at trading it long term.
Heading into the weekend, first trade was closed at BE. Second position up 20 pips currently. Likely to pull back next week. This weekend will look at monthly charts and pick the best trends to possibly trade next week.
Will keep entering on EurUsd as long as I have open positions in it. We do currently have a couple of higher swing lows on Daily, plus this last move will make a higher swing high. Assuming the pullback does not take out previous swing low.
Still reasons to think their may be an up trend.
EurUsd is still in a range that it has been in for 8-9 months, is fairly obvious on Monthly charts. May not be the best pair to trade at the moment.
If I have time this weekend I will post some Monthly charts. If EurUsd position survives, the stops will be moved to breakeven when market opens Sunday. Hope everyone has a good weekend.
