Two Lines and a Chart

bs @ 1.6167
sl @ 1.5857
tp @ 1.6550

Okay:

I have decided to trade the H4 and not the daily charts. So, I have updated my charts to open H4 trades and from now on I will just post H4 trades. I was going to do both D1 and H4 trades, but I am definitley an H4 trader and so I will just stick with that.

Alright.....

I had a very nice run so far.

What I have done is I have closed my trades. I had good enteries for once with no mistakes. There were no MM mistakes. I answered some trading questions I had on how I should handle some trading instances, and some more questions came up.

As I am not 100% sure about all my trailing stop and rules, etc, I thought that I would just close my trades in profit, learn from things on this round, and make some more trades on a new round of entries. I think as long as I keep doing ths, everything should just fall into place

I love so much the look and feel of my new charts, that I just had to take a moment before the weekend and post one. So very exciting! I sure hope that every one has a great weekend, and for me; I hope I can pick up right where I left off. A tad bit closer to where I want to be as a full time trader.

Hopefully I will have a little time to do some front page clairification, but I make no promises!

Buy @ 85.87 which is a little better entry price than I would normally get. Which is why y SL might appear a little ticht, but normally my entry is higher. SL @ 85.60, what can I say. I am experimenting with a SL setting for this formation trades and that is where it came out at. TP is at 87.80, back up under the wave, and at the opposite side of the formation.

Buy @ 1.0048
SL @ 1.0010
TP @ 1.2500

It seems like my line there is acting as pretty strong support. For two days now all action has ended above it. Today we have alread seen another attempt to head below the line and it looks like it is going to fail. If it does, I am thinking that we should head back to the wave. So, that is why I entered a long position here.

Buy @ 103.46
SL @ 102.90
TP @ 105.50

Once again I am seeing price playing around at my support level. So, I am going to put a tight stop on it and see it is going to head up like I think it is going to.

Buy @ 1.2894
SL @ 1.2838
TP @ 1.3050

I have taken profit nicely on my short trade right at a fairly strong support level and so I decided to enter long. There is a lot of background noise here with the wave coming down into play along with close support and resistence. Howeverm the resistence is not what I would call substantial, though it is there. I will be quick to get my trade too a point of break even, which I will do if I reach 40 or 50 pips in profit.

- I moved my EurCad SL closer to the open limiting my risk. Based on Friday's price action I am expecting the spike to fill and than get another bounce from my entry point. The first part has happened. In hindsight, and I knew it on Firday after the market closed, was that I should have taken profit on this trade before the weekend. Then I would have been free to look for another entry. As is, I risk getting out with a small loss, when I was up some nice pips.

- UsdCad trade has been moved to break even plus a few pips. I will be looking for the new spike to fill and will consider taking profit at the first line of the wave.

Buy @ 79.91
SL @ 79.41
TP @ 80.86

This is a pretty strong support level going back a long ways. I will get my trade to B/E as soon as I feel comfortable, but I would be surprised not to see a few nice bounces off this level.. Perhaps even entering a range around this level. We shall see!

Sell @ 1.2860
SL @ 1.2902
TP @ 1.2692

We have reached a real long standing resistence level. I would say that the wave is more indicative of being flat than indicating a strong uptrend. Plus, price has not been able to reach higher highs in three wave attempts. Will see what happens. The wave is still going to be there to add support, so I will want to get my trade to B/E as soon as possible.

Buy @ 128.65
SL @ 128.05
TP @ 130.10

Decided to go long here as it appears market is starting to consolidate above a level of support it was unable to break during the last swing low. We did have a lower swing high to keep an eye on.