Confluence Trading

I am starting this thread to record my trades and reflect on my performance.

Potential trades for this week

Shorts
CADCHF
AUDUSD
NZDUSD
EURGBP

Longs
EURUSD
GBUSD

CADCHF is my favourite for this week

lets look at some charts

EURGPB weekly chart

Weekly trend is down
Market retraced to Trendline
Reached Fibo extention 141.4
Retraced to 78.6 of last swing
Area of previous Resistance /Support
Market overbought
Round physchological number 0.8800

possible good Short position

CADCHF

Daily/Weekly Trend is down
Broke major support last week,now retesting, most probably will act as resistance now
Coincides with to 61.6 Fib retracement
Round number 0.9400

Potentially good short position

Short CADCHF 0.9392
50 pip SL

Stopped out -50

My trades for today
GBPUSD
NZDCHF


GBPUSD
has been testing strong support area of 1.6000, managed to hold it for 2 days
it also coincides with 38.2 fib of last low in Jan to the recent high at 1.6400
stochastic oversold
took a long at 1.6008

NZDCHF
I had a limit order to sell at what I thought an important level 0.7050
its 61.8 fib retracement and previous important support level possibly turned resistance.
stochastic is overbought

Nice setup on both...It would be nice if u post ahead of time...

short nzdcad @0.7405

reason:

fib fan 61.8% + Divergence + Ichi(1hr)

welcome onboard surewin

I will try to post setups earlier but I work long hours so can be difficult sometimes as I only have 10-15 in the morning to have a quick look at my charts.

am taking half off on GBPUSD and move stop to BE

result for week
CADCHF -50
GBPUSD +62
NZDCHF running

total +12

This coming week I am focusing more on indicies as I have a confirmed signal as per my rules on indicies hence I am planning to establish a medium term position. I also still have the NZDCHF trade running so I may not be taking any FX trades at least for the next couple of days.

Long SP500 1331.60

No change to my positions last week, still holding SP and NZDCHF trade which is acting as a hedge position . SP500 struggled last week against resistance 1338-1340.
NZDCHF struggling against big resistance area, will see what happens next week.

I have closed NZDCHF trade for +20 pips
I kept it running until today to hedge for my SP500 position after some bad news from Japan incase of a big sell off but decided to sell it today as SP500 has held support 1310 so far which is probably just a retracement before a bull run.

I will add to my SP position as it advances, if it breaks and closes below 1310 I will close the position as not hedging at the moment.

The reason I am focusing on sp500 rather than forex for now because I had a signal which I was long waiting for, not sure if it was worth the wait

Market has been challenging support last week on sp500 but didnt close below 1310 therefore my position still running.
Patience is a key to medium term positions, lets hope I dont run out

Well a lot of action on the SP500 last week. Market did close below my 1310 so I closed my position only to regain it the next day. So I reopened the position at 1311. now locked some profit to compensate for the previous loss and waiting for more upside towards 1400 if I am right. will add to position once makes new highs

well not a lot has been going until last couple of days. still holding SP500 longs with target of 1400+ if works out as planned. Inverse H&S in play with a test of the neckline today which held very well.

I have also taken a long position in silver today at 39.50, it has been a nice retracement in this strong bull market. SL 37, target 60.00+...

Fingers crossed

stopped out on silver with a loss. The huge surge in volume in ultra short silver ETF just a week before the big drop in silver tells the whole story but unfortunately I didnt take action. I re-entered silver long at 36 with tight SL 35.50, the big drop clearly is a wash out of weak longs (like myself) and the margin increase on silver has knocked many of the longs out , the trend ought to continue but I could be wrong. we shall see