PowerTrading/The River

Here is the same trade from the next day. Having the knowledge to stay in a trade is not the same as having the nerve. It should always be based on knowledge, nerve will lose your account.

The two sell positions from the previous day are still in place. We are up bigtime now where do we exit and why?

Here are the charts from 10/11. We still had two sell positions in play early. We took one position out at 70 pips and let the other ride. When price backed up on us, no panic just sell another position at a much better place with profit already in the bank. When you learn how to trade you will understand multiple positions and how they can make you money.

Notice this chart from Friday. No more orders in place. All closed for profit and then look at what happened with the news. This is how your trading week should go. It should have these types of results. Now what to do on Sunday? Do you know where you will enter? You should have an idea of where you may enter a sell or buy trade, but then let price determine what you actually do.

I hope this helps you better understand.

Here we are in another sell position and as you can see on the chart we are up 60 pips at this time. We entered based on Fibonacci and breaking of support. Now where to exit?

This will explain our entry and exit strategy on this trade. We enter on a River move but we needed to wait until support was broken. As you can see from our target entry we missed by a few pips because we had a falling knife candle at that point. We are now up about 70 pips and you can see the support is my 76.4 Fib area. If we can break the 76.4 and the 2.0300 level we should run for 100 pips. If we come back up through the 61.8 level, that would be an exit for me on this position. One more thing here, we have news out at 9am and after US time and that could move it either way.

After banking my original pips I allowed for a bounce and then took another sell position once strong support was broken again. You can see new sell order in place now.

Closed out final position for the day at 11 pips. That brings us to a total of 51 pips for the day. Not a bad day but could have taken a few more. My next move will be to look for a break under the 2.0300 area for a sell. If we move back up around 2.0400 I will take a short there as well if all conditions line up.

PT

I am finding it much easier to take a sell position on the cable because we are at a very high price for this pair. I took a short at 2.0380 based on the spike to that point yesterday and my fib levels at the time of the order. I also had suggested I would take a short around the 2.0400 area. I am currently up about 28 pips but it could bounce back up at anytime.

In this current short position we are starting to consolidate around the 50% retracement level. I think it is very likely that if we don't bounce back up from here we will move down a bit more and have consolidation around 61.9 to 76.4 level. I am going to let this position ride unless it backs up and I will take it out with a very small gain.

PT

Cable come on down

I see lower highs on the 4 hour cable..our las run down was weak though...i think we move lower from here

Well we didn't go lower, so I closed out my position for a small gain. I have been a bit surprised at the levels price is trading. I have expected some heavy duty down moves and I still do. I am currently short from the top with two other short positions to kick in. I am staying away from long positions at this time except for a short burst here or there. Because I am only trading the cable at this time, I think I will set out the rest of the day after I close my current trade, unless my other targets are triggered.

PT

Easy 200 pips today
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Hi Guys !

i will post my trade results with this method every day
hope u guys like it
today i got +200 and then long again from 231.28

good luck
Netwise

Hi Guys !

as i told above that i will go long from 231.28
and thanks GOD got more +100 in that trade
long from 231.28 close on 232.28
+300 pips today with this method

Good luck
Netwise

Hi there netwise,

I want to ask you how do you place SL, where, do you use 50 pips for GBP/JPY or what.

Thank you.

hello !

well when i saw a confirm trade i will never use the sl and well when i am in doubt then i use 100 pips sl and 100 pips tp with the 50 pips trailing stop loss thats what i do

thanks
Netwise

As you can see there is a sell position in place and we are currently up over 100 pips. Already closed one position for 37 pips earlier. Support was broken and it was off to the races.

Great job!

Thanks bro
its all because of u and ur great system which u introduce to us
all the credit goes to you brother

thanks
Netwise