Trades based on Market Geometry and Price Action

buy eur/usd at 1.3185 sl=1.3100 tp=1.3300

Do you have a chart of EU trade? I know the 1,3185 is the last little top, but NFP is coming out in half an hour, could trigger the trade and then turn south, quite risky

Hope you read my post in time

Dk monitors his trade pretty often so dun wry too much. He could've exited right after the spike. Nfp triggered some moves. But still within the range. Nothing has been broken...

this is a crap week lols. breakeven twice... hopefully next week would be better !

i lost eur/usd trade..but made nice profits on gbp/yen and eur/yen...i will keep these trades for some days

Attachment this is the monthly candle that is triggering the long on both eur/usd and eur/yen...i'm expecting a nice trend next week

Hi DK,
I saw your post in the EurUsd forum as well. I think you are absolutely right about the pinbar there. Unfortunately I was in a bit of a shorting mood. I still expect some downside and then a breach of 1.3220.

a good trade on eur/usd will come at the break out of the 4hr chart ar a retrace after the break...instead of eur/usd or gbp/usd, you can profit from eur/yen and gbp/yen... these are the pairs that are making me money now..
i will add to my positions sunday-monday
encouraging article here... you need to read it
http://www.yen-to-pounds.net/Forex-Trading-Wisdom.html

gbp/yen did the same pattern

dk:

I have a question about my gbpusd 4- hour chart. On my chart I have two purple rectangles. I am trying to determine if the farthest right rectangle could be considered a lower high in terms of a swing. Or, if the candlestick that coincides with the farthest right rectangle could be considered to have reached the "upper zone". Meaning that sterling has mearly bounced off the upper range and we are not looking at a possible reversal patter forming.

Wathca think, and thanks?

Dust

hi Damonl,
the pin bar at the farthest rectangle is a valid one, and the lower high also valid. But they have no strength in the market now, because the monthly is stronger than the 4hr. And if you are going short, you have to be careful because, the power of the monthly chart going up will surely break out to the upside. For now, when you look at the daily, you see the market is consolidating, so it could break the upside, before starting the retracement.
if you are right, and you are too early, then you are wrong..there is a daily resistance up there (blue), and weekly (red). the market has to touch these lines before any serious down move (most important is the weekly).
mindset for your losing streak
http://www.yen-to-pounds.net/Inner-T...l-Trading.html

i did not check out the weekly chart but i have to say it looks pretty bullish given the pin bar and follow green bar. this is the contradicting part i guess in which hourly are still showing valid downtrend. however, as im out of the market with break evens last week, im taking the sideline and will onli enter when a side is clear. too much ranging for me to bear.

ok good Ed. sometimes, it is better to stay sidelines instead of forcing trades...

I manage to force a 20 pips win and I'm out again. Will take a break I guess

yes you need that..market is too crazy sometimes

i will buy aud/usd at 1.0710 sl=50 pips target 1=1.0800 target 2=1.0850

The down move is on relatively low volume, so I expect 38.2% at 1,30 or 50% at 1,293 to hold and turn things around

yes you right.. i think the market is turning now...
i will buy again aud/usd at 1.0710 sl=1.0672 tp the same as first trade
short usd/cad at 0.9947 sl=0.990 tp=0.9900 tp2=0.9880

I was talking about EurUsd, just to clarify.