One does not simply buy low and sell high

Missed this a/u trade but maybe I can catch the next swing.

Had to move to the 1hr to show the extension targets. I'm looking for a 150% extension of 7797.

Notice that the 50% level and the previous resistance line match up almost perfectly. This will give me a low risk stop, and an R/R of about 14:1.

Looking at usd/jpy 15min. Closed above swing highs from 119 so lets see if we make higher highs after the retracement.

Price never retraced down to our level to get the trade, but now price is at this nice resistance zone on the 15min chart. This could be a nice short setup.

On second thought, it seems too range bound for a retracement-based trade. Trading the support/resistance zones might be a better idea.

Long A/u at support zone @ 7627. 80 pip stop/ 160 pip target. The median line set forecasts a possible move to the upper channel line, should we break out.

So far so good

usd/jpy 4hr/ 30m analysis

Closed out A/U with 65 pips.

Looking at longs on usd/jpy when we get to 122.

Just some nzd/usd analysis. What u think?

I swear, trading price action only is the hardest damn thing I ever tried to learn.

The books make it look easy, with their hindsight charts!!.."HEY just buy here and sell here!" they say, as price bounces perfectly and predictably off the trend line example they give.

Give me a trading system with indicators. At least then I have a check list to follow...a system...a set of rules, and NOTHING, if very little is left to question, however trading price action is a completely different animal. It's so god damn subjective!. Is it going up, down, backwards or sideways?!?..who the fuck knows.



It SHOULD be easier, but it's not.

In the past three days (since monday) I've been day trading penny stocks using a indicator based system that I've been working on for some time now, and MADE MONEY each day.

Clearly IT IS POSSIBLE to trade this way, and I'm not giving up yet.

Eur/usd analysis. Price looks bullish on the 1hr, but not so great on the daily. I would look for a long off the 1hr but I think it's going lower.

long usd/jpy

risk 84 pips
reward 164

Some trades from july