Live trades - by Forex Mind Games

NZDUSD is currently facing a strong resistance zone on the daily chart. It is a huge resistance zone of about 80pips from 0.7970-0.8050.

It is hard to pinpoint a safe price to short NZDUSD with a daily chart. As i try to keep my stop losses to 30pips max. So i will be zooming down in the 10mins & 60mins chart everyday to look for a nice price to go short. Will keep this post updated.

In the meantime, take a look at the daily chart.

Hi traders,

This is another of my trade setups that i am watching closely. There is a strong resistance zone around the 1.5780-1.5800. Once price reaches this level, I will see the price action to determine actual price to go short.

watching that pair too...risk rally is mainly running on hope.....possible bounce off resistance between 80.5 and 81

We share the same thoughts!! Lets make some green pips together!

I just went long on EURUSD @ 1.2677. Stop loss 25pips. Let's see how this trade work out.

10mins chart below.

Hi traders,

My next trade is LONG USDCAD. I did not have much success trading this pair over the past few years. Not losing much, but definitely not profiting much either.

Trading a currency pair which is suitable for you is like finding a suitable girlfriend. Either you click, gel, bond with her and can go all the way. http://i47.tinypic.com/34or1qv.jpg


Or you sizzle out, turn cold or lose interest in her and the relationship ends.
http://i45.tinypic.com/wj8cq9.jpg

Enough ranting. Here are my trade setups.

LONG USDCAD @ 1.0030-1.0050
Stop loss 30pips
1st target profit @ 1.0200 (+150pips)
2nd target profit @ 1.0400 (+350pips)

See attached charts.

Many green pips to us if this trade works!!

I am posting my live trades. Hope it works out.
Short EURUSD @ 1.2667. Stop loss 25pips.

Hi traders,

Here is the link to my EURUSD long yesterday.

http://www.forexfactory.com/showthre...56#post5775456

Result: breakeven trade.

SHORT GBPJPY

Watch for a key reversal pattern (KRP) on the 1hr or 4hr chart before going short. I will have a higher chance of success if i see a KRP before shorting. KRPs are double top, triple top and head & shoulders formation.

SHORT @ 126.50-127.00
Stop loss 30pips
Target profit 1 = 125.00
Target profit 2 = 124.00
Target profit 3 = 120.00 (huge support on weekly chart)

SHORT EURAUD

Price is currently contained within the falling channel on the daily chart.

SHORT @ 1.2570-1.2620
Stop loss 30pips
Target profit 01 = 1.2470
Target profit 02 = 1.2400
Target profit 03 = 1.2200

Mon, tues & wed were very quiet days, EURUSD stuck in a 100pips range for 3 days. I have not seen such behavior for a long time.

A mind game rule of trading: When market is quiet, it means that the big operators are saving their ammo, therefore be ready for their next big bull and bear shootout. It will come.

I am shorting EURUSD today.

Short EURUSD @ 1.2530-60
Stop loss @ 1.2580-00
Target profit 1 = 1.2450
Target profit 2 = 1.2300

Last friday 29th June was a special rocket launch day for the bulls. First, it was the second day of the EU summit. Expectations were low as the market
did not expect any significant rescue plans by the politicans. So when they clobber something together, the markets soar. Second, friday was a combination of 3 things. Month-end, quarter-end and half-year-end window dressing by the institutions. Will the optimism contines this week into the new month or the euphoria evaporates?

Here are my trade previews for 2-6th July.

Trade #1
NZDJPY
Short around 64.20
Stop loss above 64.60 resistance zone
Target profit around 62.50

Trade #2

USDCHF
Long around 0.9340
Stop loss below 0.9300 support zone
Target profit 1 around 0.9550
Target profit 2 around 0.9750

what is your point to post live trades?

This is the forum section on trading journals. I am posting the trades to discipline myself to take the trade when it arrives. My trading journal is to plan my trades and trade my plans. Cheers!

I am learning to trade harmonic patterns. The harmonic patterns come with colorful names, such as butterfly, crab and bat patterns.

I like the simplest one of all, which goes by a simple name, the AB=CD pattern. In order to train my mind to see and recognize AB=CD patterns, i went searching for AB=CD patterns,. I looked for it everywhere. 10mins charts, 1hr charts, 4hr charts and daily charts. And i think i found the largest AB=CD you will probably ever see.

Here it is. The humongous 3000pips AB=CD pattern from AUDUSD daily chart!!

I found a potential lucrative trade for the AUDUSD. When i trade, i try to train my eyes to look for outsized rewards with minimal risks. This trade if it works, may turn out to be one of those with a high reward/risk ratio.

However, AUDUSD is now at 1.0300, which is 100pips away from my entry price. Remember my site's slogan? That's right. Trading is a mind game. So i will be patient and wait for price to retrace to my buy price.

For those who are into Elliott Waves, there is a potential third wave in the making on the 4hr chart. In Elliott Wave theory, the third wave is never the shortest wave and has the possibility to be the longest wave. If my wave count is correct, this third wave could be the next rocket launch.

I will be putting on 2x my usual position size for this trade. Because if this trade works, i believe it will really fly far far away. However, there is no 100% certainly in trading. So a stop loss is a must.

LONG AUDUSD @ 1.0200-20
Stop loss below 1.0150
Final target profit @ 1.0800 (Take profits along the way at 50, 75 or 100pips interval. Your choice)

Come on EURUSD, i know you can break below 1.2300. New York, please do me a favor and short it down.

On July 1 Sunday, one of trading calls i made was to SHORT NZDJPY around resistance zone 64.20-60. If this trading call was taken, we would have netted about 90-130pips for this week. Click on link.

http://www.forexfactory.com/showthre...87#post5804387

I am looking to short EURUSD & GBPUSD for this week's trading. First up, lets look at EURUSD daily chart. I always start by having a bird's eye view on the currency pair, through using the longer term chart. In the daily chart, EURUSD is contained in a falling channel.

http://i45.tinypic.com/2i6m2de.png

Zooming in on the 4hr chart. I am looking to short if price retraces to resistance zone of 1.2410-40. Last week, it drop 400pips. Will we see it drop another 400pips this week? Direction of EURUSD is quite clear. I think EURUSD may touch 1.2000 soon. It is just a matter of when.

http://i47.tinypic.com/2nk0zkg.png

SHORT EURUSD around 1.2410-40
Stop loss 30-40pips
Final target profit 1.2000