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Start of my journey towards profitable trading with PA

  • #21
  • Jan 18, 2013 5:28am Jan 18, 2013 5:28am
Quoting keroro0o0o
Cancelled order. Priced went passed my marked FTA. Let's wait for a Ret on the next few days.

Attachment
Price hit my TP. My sell order was SPOT ON, almost at the day swing high. Too bad i was asleep when the first M15 bar of the day breached 1.6000 and started working out towards the TP.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 114 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #22
  • Edited Jan 19, 2013 12:19am Jan 18, 2013 9:12pm | Edited Jan 19, 2013 12:19am
Pending sell limit in USDCAD

Reasons:
1. DCC + WCC of 2 LCS levels as Resistance
2. 150EMA as Resistance.
3. SFP with RR pattern.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 110 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #23
  • Jan 19, 2013 12:18am Jan 19, 2013 12:18am
2 Pending sell limits in USDCHF

Reasons:
1. DCC of HCR with PB
2. SFP with PB
3. 365 + 150 EMA confluence as resistance

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.jpg Size: 120 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #24
  • Jan 20, 2013 4:51pm Jan 20, 2013 4:51pm
Quoting keroro0o0o
2 Pending sell limits in USDCHF

Reasons:
1. DCC of HCR with PB
2. SFP with PB
3. 365 + 150 EMA confluence as resistance

Attachment
Update on USDCHF pending sell limit.

1st limit triggered.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #25
  • Jan 20, 2013 5:06pm Jan 20, 2013 5:06pm
Quoting keroro0o0o
Pending sell limit in USDCAD

Reasons:
1. DCC + WCC of 2 LCS levels as Resistance
2. 150EMA as Resistance.
3. SFP with RR pattern.

Attachment
Update on USDCAD.

Sell limit triggered.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #26
  • Jan 20, 2013 10:47pm Jan 20, 2013 10:47pm
Quoting keroro0o0o
Update on USDCAD.

Sell limit triggered.
Update on USDCAD:

Price immediately went south as anticipated right after it hit my sell limit.

Price reached FTA and bounced. Moved SL to BE.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 109 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #27
  • Jan 20, 2013 10:52pm Jan 20, 2013 10:52pm
Quoting keroro0o0o
Update on USDCHF pending sell limit.

1st limit triggered.
Price worked out nicely after sell order triggered.

Found support at previous multibar highs on 4H chart.

SL moved to BE.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.jpg Size: 110 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #28
  • Edited Jan 21, 2013 2:51am Jan 20, 2013 10:56pm | Edited Jan 21, 2013 2:51am
Quoting keroro0o0o
Price worked out nicely after sell order triggered.

Found support at previous multibar highs on 4H chart.

SL moved to BE.

Attachment
Updated on USDCHF:

Stopped out at BE.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #29
  • Jan 21, 2013 2:50am Jan 21, 2013 2:50am
Quoting keroro0o0o
Update on USDCAD:

Price immediately went south as anticipated right after it hit my sell limit.

Price reached FTA and bounced. Moved SL to BE.

Attachment
Updated on USDCAD:

Stopped out at BE.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #30
  • Jan 21, 2013 3:58am Jan 21, 2013 3:58am
Quoting keroro0o0o
Updated on USDCHF:

Stopped out at BE.
Lesson learnt: In a trade where confidence level is high (with major confluences), SL should not be moved to BE too quickly.

In this USDCHF trade, I moved SL to BE too quickly, and price immediately take me out of the trade, and work it's way south.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.jpg Size: 116 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #31
  • Jan 21, 2013 6:49am Jan 21, 2013 6:49am
Quoting keroro0o0o
Lesson learnt: In a trade where confidence level is high (with major confluences), SL should not be moved to BE too quickly.

In this USDCHF trade, I moved SL to BE too quickly, and price immediately take me out of the trade, and work it's way south.

Attachment
Update on USDCHF pending sell limit:

Too much traffic in the 4H chart. Not a good place to trade into.

Cancelled the pending sell limit.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.jpg Size: 108 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #32
  • Jan 21, 2013 7:50am Jan 21, 2013 7:50am
New trade in EURGBP.

Reasons:
1. Strong D+W HCR level, with Hourly signature.
2. MACD bearish divergence.

*Trade based on 1H chart, will exit based on 1H PPZ.

Limit buy order placed to close half at FTA.

Attached Image (click to enlarge)
Click to Enlarge Name: EURGBP.jpg Size: 99 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #33
  • Jan 21, 2013 8:53am Jan 21, 2013 8:53am
Quoting keroro0o0o
New trade in EURGBP.

Reasons:
1. Strong D+W HCR level, with Hourly signature.
2. MACD bearish divergence.

*Trade based on 1H chart, will exit based on 1H PPZ.

Limit buy order placed to close half at FTA.

Attachment
Stopped out. Bad trade as it wasn't based on my rules of entering trades. Was planning to wait for a H1 SFP,but got impatient when spotted d MACD divergence and pulled the trigger few minutes before H1 candle closes.

Bad trade!!
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #34
  • Jan 22, 2013 2:57am Jan 22, 2013 2:57am
Quoting keroro0o0o
Lesson learnt: In a trade where confidence level is high (with major confluences), SL should not be moved to BE too quickly.

In this USDCHF trade, I moved SL to BE too quickly, and price immediately take me out of the trade, and work it's way south.

Attachment
2nd reminder. DO NOT MOVE SL TO BE too quickly UNLESS it makes sense, eg: upon a reversal bar on the same TF.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCHF.jpg Size: 115 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #35
  • Edited 5:00pm Jan 22, 2013 3:22am | Edited 5:00pm
New trade in NZDUSD.

Short after double SFP at strong Resistance area.
Possible forming a RR back to the previous RM for a long setup.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 103 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #36
  • Jan 22, 2013 4:17am Jan 22, 2013 4:17am
Quoting keroro0o0o
New trade in NZDUSD.

Short after SFP at strong Resistance area.
Possible forming a RR back to the previous RM for a long setup.

Attachment
Update on NZDUSD trade.

A good reaction on the first bar after the SFP bar. Good place to reduce some risk at this showed the SFP is now working.

SL moved to 2 pips above high of SFP bar because if price breaksthrough it, it directly invalidates the SFP setup.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 105 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #37
  • Jan 22, 2013 5:08am Jan 22, 2013 5:08am
Quoting keroro0o0o
Update on NZDUSD trade.

A good reaction on the first bar after the SFP bar. Good place to reduce some risk at this showed the SFP is now working.

SL moved to 2 pips above high of SFP bar because if price breaksthrough it, it directly invalidates the SFP setup.

Attachment
Realized a Bullish bias in NZDUSD (yea I know it's pretty late )

Revised TP to FTA.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 105 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #38
  • Jan 22, 2013 6:39am Jan 22, 2013 6:39am
New trade in USDCAD

Reasons:
1. SPF at previous S turned R.
2. MACD bearish divergence
3. D bearish bias (with 150EMA & upper TL, not shown in H1 chart)

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 105 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #39
  • Jan 22, 2013 8:01am Jan 22, 2013 8:01am
Quoting keroro0o0o
Realized a Bullish bias in NZDUSD (yea I know it's pretty late )

Revised TP to FTA.

Attachment
TP hit for a 0.75R profit. Not bad
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #40
  • Jan 22, 2013 3:30pm Jan 22, 2013 3:30pm
New trade in USDCAD

Based on D chart:

Re-entering the short trade on USDCAD.

Reasons:
1. Double DCC of R at D +W LCS with the last candle as BEOB/PB alike.
2. 150EMA working as R
3. SPF still valid.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 115 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
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