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an Aspiring Up and Coming Trader

  • #21
  • Feb 20, 2014 8:42am Feb 20, 2014 8:42am
Quoting UpComerFX
{quote} The tide seems to be turning. The FOMC minutes produced volatility late in NY session, we're not out of the PRZ and edging lower. I'm still managing the trade but I want to make sure this is the near term high before I set up my take profit target, which is dictated by the swing high. I'll keep updating. {image}
Update.
I'm glad to say that I'm officially 1 for 1 since the start of this thread, nothing spectacular but pleased nonetheless.
I had my Take Profit target at the .382 of the entire AB=CD, which was hit over night. In time, I will become more elaborate on my targets by only closing half of my position, moving stops to BE, etc.
Attached Image (click to enlarge)
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Greatness exists in all of us.
  • #22
  • Feb 20, 2014 10:55pm Feb 20, 2014 10:55pm
I only monitor about 5 pairs for right now so the amount of setups I'm finding is limited. I'm curious to see how AB=CD's play out. After the bounce off D, targets are around .382 of the entire swing. From there, what does one look for? A new formation? I've seen how head and shoulders could play out with these situations, I'll keep learning.
Greatness exists in all of us.
  • #23
  • Feb 23, 2014 9:57pm Feb 23, 2014 9:57pm
Patience is virtue.
I've passed on many trades, and will continue to pass on many setups for the hope that I only choose high odd trades. Whether or not my trades are actually high odds or not will reveal themselves to me over time.

Update.
I'm eyeing a potential short on the NZD/USD. 3 Harmonic values found within a fresh supply zone. I will place my entry high within the PRZ, risking a missed opportunity, but at the same time increasing my R:R.

Entry .8332
Stop .8352
Target 1: AB=CD .382 OR .618 (still undecided on profit targets. I'm only trading 1 lot for my learning stage; can't half off, BE)
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh1.png Size: 65 KB
Greatness exists in all of us.
  • #24
  • Feb 24, 2014 1:58pm Feb 24, 2014 1:58pm
Quoting UpComerFX
Patience is virtue. I've passed on many trades, and will continue to pass on many setups for the hope that I only choose high odd trades. Whether or not my trades are actually high odds or not will reveal themselves to me over time. Update. I'm eyeing a potential short on the NZD/USD. 3 Harmonic values found within a fresh supply zone. I will place my entry high within the PRZ, risking a missed opportunity, but at the same time increasing my R:R. Entry .8332 Stop .8352 Target 1: AB=CD .382 OR .618 (still undecided on profit targets. I'm only trading...
Update.
NZD/USD Short triggered. We've seen some rejection so far. I'll keep the trade updated.
Attached Image (click to enlarge)
Click to Enlarge Name: nzdusdh1.png Size: 77 KB
Greatness exists in all of us.
  • #25
  • Feb 24, 2014 6:37pm Feb 24, 2014 6:37pm
USD/CAD Long.
I found this AB=CD pattern with the PRZ Zone found at a 50% entrancement, 1HR TF. The demand zone is found on a 30 minute. I'm hesitant with this trade, which is strange because I'm betting on some sort of Dollar strength on my NZD/USD trade. I'll pass on this one and take it on my demo account.
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Greatness exists in all of us.
  • #26
  • Feb 25, 2014 5:11pm Feb 25, 2014 5:11pm
Quoting UpComerFX
{quote} Update. NZD/USD Short triggered. We've seen some rejection so far. I'll keep the trade updated. {image}
Update.

My NZD/USD short is continuing to consolidate within the PRZ. I will update once again when we break the range we've formed.
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Click to Enlarge Name: nzdusdh1.png Size: 74 KB
Greatness exists in all of us.
  • #27
  • Feb 25, 2014 9:54pm Feb 25, 2014 9:54pm
Potential trade found USD/JPY.
After the formation of a Gartley pattern, a swing was produced that lead into a possible Bat pattern. I'm still 1 for 1 since I began my journey with an open NZD/USD short at the moment.

Entry 101.75
Stop 101.50
Target 102.25
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh4.png Size: 78 KB
Greatness exists in all of us.
  • #28
  • Feb 25, 2014 10:05pm Feb 25, 2014 10:05pm
Update.

NZD/USD has gotten extremely ugly in the last 24-36 hours. After my PRZ was hit, price has basically been bound within a thin channel. It had a false break to the downside, can it follow though if it breaks again? I'll keep this updated.
Greatness exists in all of us.
  • #29
  • Feb 26, 2014 6:18pm Feb 26, 2014 6:18pm
Found a potential Bat on the AUD/NZD.

Entry 1.0757
Stop 1.0735
Target 1.0800
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdh1.png Size: 83 KB
Greatness exists in all of us.
  • #30
  • Feb 26, 2014 6:43pm Feb 26, 2014 6:43pm
Quoting UpComerFX
Found a potential Bat on the AUD/NZD. Entry 1.0757 Stop 1.0735 Target 1.0800 {image}
Update.
Lost. Lesson learned: place stop below X.
That AUD news event stirred things up.
Greatness exists in all of us.
  • #31
  • Feb 26, 2014 6:48pm Feb 26, 2014 6:48pm
Quoting UpComerFX
{quote} Update. My NZD/USD short is continuing to consolidate within the PRZ. I will update once again when we break the range we've formed. {image}
Update.
My initial target was 2:1, which was hit earlier today. I got greedy and placed my target to 3:1. I will keep the trade open, let it play out and learn my second lesson. I'm currently 1 for 2 on my closed trades but technically, I would of won this trade if my emotions didn't get the best of me.
Attached Image (click to enlarge)
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Greatness exists in all of us.
  • #32
  • Edited Feb 27, 2014 11:26am Feb 26, 2014 8:21pm | Edited Feb 27, 2014 11:26am
I'm 1 for 3 o my trades. One loss was due to adjusting my target higher, which resulted in a loss. NZD has been volatile as of late, blowing through my PRZs. I'm trying to figure out a way for me view PA at the PRZ instead of blatantly placing Limit Orders.

Update.

My USD/JPY long is a mere 15 pips from my Target level. Hopefully that'll place my at 2-2 but we'll see.
Greatness exists in all of us.
  • #33
  • Feb 27, 2014 3:44pm Feb 27, 2014 3:44pm
Quoting UpComerFX
Potential trade found USD/JPY. After the formation of a Gartley pattern, a swing was produced that lead into a possible Bat pattern. I'm still 1 for 1 since I began my journey with an open NZD/USD short at the moment. Entry 101.75 Stop 101.50 Target 102.25 {image}
Update.
My USD/JPY long has hit my profit target. I have had 2 wins and 2 losses, seeing my account grow by 1.5% over that time period.

I've decided to set all my profit targets for the 38.2% fib of the respective AB=CD formation in the patterns. If I had done that in every trade, I'd have 3 wins but I'm glad I've learned. I will update the next trade I expect to take.
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Greatness exists in all of us.
  • #34
  • Edited 10:25pm Mar 2, 2014 9:11pm | Edited 10:25pm
Update.

Short GBP/AUS. As I analyzed the AUD/USD and GBP/USD, they both are potentially forming patterns, each of which are poised to push to GBP/AUD lower, which is a long term .618 and fresh supply. A reaction of some sort seems very likely.

Entry 1.8780
Stop 1.8830
TP 1.8670

This chart of EUR/JPY shows a perfect harmonic pattern that saw a massive gap down on today's open. This would of been a great trade, but it could of easily had a gap up over the weekend, leaving me burned.

Update.
Pre-mature close on the GBP/AUD short. This pair also had a gap open on the day. The loss was .2% so it's not a blow but I'll have to watch out for these types of warnings. Gaps, extreme price action, etc. This trade could still work out but I need to be disciplined in my approach.
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Greatness exists in all of us.
  • #35
  • Mar 2, 2014 9:29pm Mar 2, 2014 9:29pm
USD/CAD has a nice Bat forming on the 4HR. Due to time constraints, one could say that it's invalid but Harmonic trading calls for aggressive entries based more so on price patterns vs. time lapses.The harmonic levels at the bottom are sure to cause some sort of reaction.
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Greatness exists in all of us.
  • #36
  • Mar 3, 2014 7:38pm Mar 3, 2014 7:38pm
That GPB/AUD Short that I unloaded due to suspicion ended up dropping for 150+ pips. Life.

I'm now long the GBP/AUD from this Bat pattern. I revamped my charts, allowing harmonics to take priority over my trading. We'll see how this decision plays out.
Attached Image (click to enlarge)
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Greatness exists in all of us.
  • #37
  • Mar 3, 2014 8:52pm Mar 3, 2014 8:52pm
AUD/NZD Short order placed on the Bearish Gartley pattern. Price already hit the PRZ about an hour ago. I missed the opportunity to get in on the initial touch but I'm planning to enter on a retest.
Attached Image (click to enlarge)
Click to Enlarge Name: audnzdh1.png Size: 61 KB
Greatness exists in all of us.
  • #38
  • Mar 3, 2014 9:48pm Mar 3, 2014 9:48pm
AUD had their RBA Rate Statement, lining up nicely with some harmonic completions.

AUD/NZD Gartley was stopped out by literally .1 pips, it happens.
GBP/AUD Bat thankfully made up for that minor loss and then some.
AUD/USD Bat wasn't filled, as it nipped the PRZ then tanked.
Harmonics are looking great so far..
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpaudh1.png Size: 69 KB
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Greatness exists in all of us.
  • #39
  • Mar 4, 2014 10:24am Mar 4, 2014 10:24am
Short Term bullish Gartley on GBP/USD 30 min.
This is my first trade with multiple lots so I will update how I managed this trade as it progresses.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm30.png Size: 56 KB
Greatness exists in all of us.
  • #40
  • Mar 4, 2014 1:05pm Mar 4, 2014 1:05pm
Quoting UpComerFX
Short Term bullish Gartley on GBP/USD 30 min. This is my first trade with multiple lots so I will update how I managed this trade as it progresses. {image}
Winner for the GBP/USD Bullish Gartley.
Multiple lots on this trade allowed me to take half off at 38.2% of AB=CD, move stop to just short of a break even, and the second TP to the 61.%.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm30.png Size: 57 KB
Greatness exists in all of us.
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