GBPCAD UPDATE - missed getting my order filled by 3 pips then the market shot up 100 pips. Once a level has been respected the trade is over, whether I'm in it or not. So if I was in the trade I'd move to BE. Since I'm out the order gets cancelled.
USDCNH runner progressing nicely, approaching a key sell level, would expect sellers to come in and drop the market.
Runner target set for a more solid sell level. Will use a market structure trailing stop.
Market reacted off of the marked levels as expected, tell me these aren't powerful!
Amazing how complicated most systems are, how cluttered with indicators most charts are and all the while these traders are missing it, what really propels the market.
The average trader is drawn to a "system", they try to eliminate probabilities and guess work, when in reality that's what trading is, calculated guesses. They want to watch for lines crossing on a chart and click a button.
I saw a new journal pop up stating "10% daily returns", now every trader with any experience knows this is a load, but it's amazing how that journal has blown up. But a great lesson in marketing the trading world showing how gullible and even desperate many traders are.
Valid setup on USDSEK happened a couple days ago, no pull back yet, market has continued to climb, adjust entry points as market has now closed about solid buy levels. I see two areas where buyers will come in.
Valid setup on EURUSD. Blue line marks what would be the aggressive entry...but going to pass on that and see if we get a better pullback to the more solid sell level.
Valid USDJPY setup, stochs cross is weak, but I like the buy level. Again, we look for the first retrace entry, if the market fails to break the swing high/low with a candle close we can give it a shot at a deeper pullback. That's what this is.
EURUSD target it overnight! I normally like to leave 20% as a runner but only able to do this if I'm around when target is about to be hit to close a portion manually.
Hi SWTRUE your results are impressive but i don't quite understand your method. How do you define your swing? If you're buying do you buy above where previous buyers were and after stoch has crossed the 50 line. Pls help clarify.
Large moves across the board triggered several setups.
USDCHF - there's a couple key buy levels, we never know how far the market will retrace in a situation like this, so I'll take a smaller position first and add at the next buy level is necessary.
EURGBP - not quite as clear...I like the first level and normally would look for this to be my only entry...BUT the market made a huge move today which could lead to deeper pullback.
GBPJPY - like both levels here
USDSEK - first yellow line marks the first level, market could react here...but not as interested due to this straight up run we've had, will only look at the second entry.
USDJPY - No trade here, this isn't technically a valid setup, the correct trade was the first arrow, but I like the long off the area marked by the second arrow.
