Scalping the pip out of it

Price has gone up on interest rate news. We will see retracement before it puts in another leg of the journey. This one kind of scared me. Two fundamental announcements in one night with different market interpretations! YIKES. Still holding long and waiting to see what happens next.

The only person who can tell you that you are a failure is you

Price has gone down and came back up for a retracement. I added a position 1.0545 and If price continues down I will add more positions. If price turns against me I need to reevaluate my stop position to reflect the added margin of a new position

Pretty good entry, although price didnt come down much. I am confident that we could see more downward movement as the later sessions develop. For now I am liking the positions I am holding.

Taking the EUR/JPY sell short at 131.15. This is a a range bound pair with no real trend direction. Unless fundamental news comes out in support of a direction, I feel like it is pretty safe to scalp within the range.

The AUS/USD continues to rise with good economic news. I have a better than break even stop loss and I am giving it some breathing room. I closed my USD/CAD trade with profit. Price was too indecisive and I lost confidence in the trade.

It took a while, but price finally came down on the EUR/JPY. In for a few pips but would like to see it drop a little more before closing the trade.

Please feel free to leave any comments or questions.

Price action is putting in a leg up. Buying is taking over. I am still in with my stop loss, but hard to say where this one is going. Stochastics are heading toward the top of their ranges so we could easily see a push back down. I will hold it for now but I am not excited about the trade. May consider averaging down at a new high to consolidate price.

I got stopped out on the EUR/JPY. It was a 30 pip loss. I also exited the AUD/USD. Attached is a graph of the trade where I exited.

Just turned on my computer and saw this one forming. Had to get in immediately. I really like a retracement possibility.

We do have a yen rate tentatively this evening. Could be just the trigger we need to see price collapse.

Price is bouncing off a lot of resistance at these levels. Maybe we will see a short term reversal. I am definitely willing to average down if price climbs higher. I feel like price has put in a huge range, and all of those contracts need to be covered at some point which will cause price to retrace.

Put it in the bank!

Finally! Got some price collapse. I did average down as price went higher to get a better entry. I like where I am at now and I have a better than breakeven stop. I will trail this one into tomorrow and see if this is a trend reversal.

Price has run up over the weekend, hitting sort of a double top. I think it may be a good opportunity to get in for a small ride down. We will see. 30 pips stop loss. trying to get 20 pips of profit.

So I made my 25 pips almost instantly!! Not bad scalp.*pat on back*

So I decided to hold because of the momentum of the price action. Turns out there were 60 Pips in the trade. I have since closed with 60 pips of profit. Not a bad way to start the week.

It has been a couple of years since I have posted anything here. I am going to continue for another round of chart posts to show the effectiveness of trading with the technical indicators I use.

Hey there. I am taking a long position on the Euro/Yen. Price has collapsed nicely after a POSITIVE DIVERGENCE setup on the daily chart. I just sold this pair from around 130.40, and now I am reversing my position. The 61% fibonacci retracement along with some good stochastic signals is helping me feel confident. My entry is 128.94 and I am going with a stop around 128.50. I will update as the trade develops.

This shot is a quick update of the trade I am in. It is a good illustration that price reacts well right around fibonacci levels when there are larger technical indicators for a bounce. Price still has a lot of resistance to make it through for a price reversal, but we have a good start.

So looks like we are getting the price movement I was looking for. Got a good run on this one. About 1/2 % return on this trade and price will probably continue to go up. Now it becomes a game of management, and understanding the cycles of price action. If anyone has any questions feel free to ask. I am not sure why I am stuck here in the commercial section, but I am not really selling anything. Happy Trading.

Just took a short trade on the GBP/AUD. It has topped out at 61% Fibonacci retrace, and it is oversold on the higher timeframes. With a little market volume this should collapse nicely. I am putting my stop at 19540 so it is pretty tight. I will update as the trade progresses.

p.s. My last trade took out my stop. After price moved about 40 pips, I moved my stop to better than break even and was taken out of the trade. Not a great trade, but profitable. Good luck