Strat's Long Term Stress Free Trading

Trade closed

Reasons given on www.stratsforextrading.com

GBP_USD Spot.png


i guess its always Easy after the Fact...BUT this was a Bullish Hikake.. even i did not read it ...perhaphs this was your reason to close it, Strat ?

baz

I didn't like the way the Jan 20 candle was behaving (or not behaving!)

You clever you. Talking about experience trader, thank you.

Buy on the next pullback for the next big move

Watch the Boss and Big Boss for signs of a turn around

Stay clear of EURGBP - its a mess!

Watch for EURJPY to turn around at 113

Look for GBPAUD to turn around at 1.64

GBPCAD turn around 1.62

USDCAD is currently the most frustrating forex pair - trade it if you have money to burn!

Last two candles made compound bulish pin bar together.

Amen to that - I deleted this pair from my list long ago !!

Yes, the big, bad wolf took me out! But not without profit.

I posted this on the 17, before the candle closed:


Sorry this update post is a wee bit slow coming. Wanted to post after the close of the 17th to show what I was pointing to, but have had limited time to play with the charts.
So, let's look at PA from the 14th.
As previously posted, I added two positions short on the 14th, hit profit on one on the 14th towards the low of the day's bar.
Notice the 14th closed at the same level as the open/closes in late November/early Dec (green rectangle on chart below)?



Sun 16th bar stayed at this level.
Mon 17 gave a doji -ish BUOB (if you are using sunday bars). The failure to re-test the lows of the run down on 11Jan is my signal to tighten up. [Astute readers will have noticed when I posted on the 17th. that I had already exited the second of Friday's (14Jan) add-on trades.]

Now let's consider the bar of the 18th. This was the first true bullish signal since the double top late December (discarding the sunday bar). Notice that it closed above my 98.70 "line in the sand" ? Yes, it had a high at the same level as the previous bars marked in gold, but it closed above my level. The next day unsurprisingly gave another run higher that closed out my original position. Now, with 2 daily closes above the level I am watching, and the longer term trend up. I am not prepared to short again at this time. I will wait for a break and PA above or below the trendlines marked.
And where do those lines meet?

Watching closely:


and the big view?


and the Big, BIG view?

So.... Who did their homework?

Strat has generously posted this alert.
Check the longer term charts.
We still have a week to go on the monthly, but the worst we can get is an outside bar -(and it will take a heck of a shock for it to close as a bearish outside bar).
We are approaching the low of the May bar - a massive doji/outside bar.
Those with a good memory (and who have read the thread!) will remember that Strat warned then that it would meet "stiff resistance" at 1.54 - which, of course, proved to be the case!



On the Boss (below), we see last week's close was above the level marked and arrowed on my chart below.



So, looking for a pull-back and appropriate PA( on the worker) to enter long.

Don't forget the kiwi.

Oh Monday morning, Monday morning couldn't guarantee
That Monday evening you would still be here with me..!

Well most call them Sunday bars, but it is Monday morning where I am.

Here is the Eur.Kiwi - with entry, stop and second of my original targets marked (target might have been a trifle ambitious).



Will I still be in this tonight?

Well, I am certainly planning to tighten. Where would the new stop go? Check the weekly.

Now, this is similar but not identical to the Eur.Aud already discussed.
One big difference, as I see it, is that we are not (yet) guaranteed an Outside bar on the monthly (no, that's homework - you have a look!!) --- so I may just tighten or close on the Sunday bar if it looks like "Misbehavin'"

I am interested this week in the E/J monthly resistamce versus the emerging bullish U/J picture. A strong up close in U'J today will fan the flames notably for the bull case.

I have been holding my last position @ BE for the first confirmed LH to trail my last position SL. The high of candle on 1-19 is a confirmed LH, so I moved my SL above that candle and also happened to be my add on SL.