Disliked{quote} Thanks for setting up the page flip flop. I apologise if this is considered a stupid question but I hope you will answer for my own benefit. What part of you're strategy does ichimoko play? thanks razorIgnored
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{quote} Seen enough, out at 1.5885
My biggest failure was to recognise the sheer weakness of the Pound. I had mentioned only earlier in the evening that GBPUSD was incredibly rangebound and logic would dictate it would need to release that range and the safe odds are definitely to the short side. I'm not sure if the weakness was in anticipation for BOE Carney speaking but either way, the Pound was shot down very swiftly.
Anyway, not every trade will be a success and I'm flat for the week and looking forward to moving forward with the rest of the week.
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Some good movement off of the back of UK data. GBPAUD had a good run up and ran right into the cam level and price was faltering and couldn't go past 1.6080 level. You can see 1.6080-1.6100 is a good area:
Looking at the pip range chart, price was failing to go past the level and the AO made a good lower high. +37 pips.
Looking at the pip range chart, price was failing to go past the level and the AO made a good lower high. +37 pips.
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A pleasing trade on GBPAUD. I was reasonably surprised it dropped away to pre GDP level as it was a solid figure so the punch higher made sense. However, I do like seeing fantastic areas of reversals and on the hour chart, 1.6110 area looked ideal:
Looking at the pip range chart, price had made a considerable higher high whilst the AO remained flat to down. I took a keen entry originally and watched the trendline very closely. Once price had crossed it, I moved my stop to breakeven and added to the trade at 1.6092. Picked a good exit for +29 and +10 respectively for a nice result.
Out now until US news.
Looking at the pip range chart, price had made a considerable higher high whilst the AO remained flat to down. I took a keen entry originally and watched the trendline very closely. Once price had crossed it, I moved my stop to breakeven and added to the trade at 1.6092. Picked a good exit for +29 and +10 respectively for a nice result.
Out now until US news.
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Here's the last trade from last night.
GBPAUD had dropped hard and it dropped to close to the daily open area (black line) and it coincided with GBPUSD hitting 1.2205 which is also a great area of support. I took an aggressive entry and had to trust the levels and what I was seeing. I went to bed with it at 1.6050, 6 pips short of the target so it was nice to wake up to a successful result and my best day all week.
GBPAUD had dropped hard and it dropped to close to the daily open area (black line) and it coincided with GBPUSD hitting 1.2205 which is also a great area of support. I took an aggressive entry and had to trust the levels and what I was seeing. I went to bed with it at 1.6050, 6 pips short of the target so it was nice to wake up to a successful result and my best day all week.
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A nice set of trades on EURAUD here with 3 trades from a few setups. I had picked out EURAUD for potential due to the following:
The isolated wick is substantial (to me, anyway) and with price rushing towards it I began looking for some shorts.
Looking at the pip range chart, the first trade occurred when price made higher highs but the AO made lower highs. I'd noted price had been bouncing around the 1.4409 area (black dotted horizontal line) and I thought if price broke though it'd have a good run down so I added to my trade which is entry number 2. I missed the original target for the first trade by 3 pips and price reversed all the way to 1.4416 and I only just stayed in as I'd moved my stop to breakeven for trade 1.
By this point, price had kept lower highs but the oscillator had made higher highs for hidden divergence. This was trade 3 and extended the target 10 pips to 1.4375 once trade 1 had completed target at 1.4385. A busy start but a nice way to kick off the day, some key US data out later so I'll be looking for some opportunities off of the back of it.
The isolated wick is substantial (to me, anyway) and with price rushing towards it I began looking for some shorts.
Looking at the pip range chart, the first trade occurred when price made higher highs but the AO made lower highs. I'd noted price had been bouncing around the 1.4409 area (black dotted horizontal line) and I thought if price broke though it'd have a good run down so I added to my trade which is entry number 2. I missed the original target for the first trade by 3 pips and price reversed all the way to 1.4416 and I only just stayed in as I'd moved my stop to breakeven for trade 1.
By this point, price had kept lower highs but the oscillator had made higher highs for hidden divergence. This was trade 3 and extended the target 10 pips to 1.4375 once trade 1 had completed target at 1.4385. A busy start but a nice way to kick off the day, some key US data out later so I'll be looking for some opportunities off of the back of it.
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Missed this beauty of a trade, but a good setup to post. The 1 hour chart shows a perfect area of resistance with the isolated high to the left on the chart repeating on current candle.
Looking at the pip range chart, price acclerated right to the area of resistance and then just as quick came back off.
Currently short EURUSD in a very similar setup, will add around 1.1025 area.
Looking at the pip range chart, price acclerated right to the area of resistance and then just as quick came back off.
Currently short EURUSD in a very similar setup, will add around 1.1025 area.
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Here's a trade from last night on GBPAUD, price had been a strong downtrend and the range had reached in excess of 190 pips, above the 5 ATR average.
Probably entered 5 pips too soon but a good result for +30 to offset the loss on EURUSD which I'll post next.
Probably entered 5 pips too soon but a good result for +30 to offset the loss on EURUSD which I'll post next.
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I'd just walked in from work and noticed EURAUD had a fair move during the Asian session so felt it could offer some opportunities.
Checking the 15 minute chart, price had stalled here earlier in the day:
Just caught the move and as detailed in the picture, the little level formed at 1.4502 and I decided to move the stop to breakeven and try and extend the TP. Took an extra 7 pips than originally intended for a +37 pip trade.
Checking the 15 minute chart, price had stalled here earlier in the day:
Just caught the move and as detailed in the picture, the little level formed at 1.4502 and I decided to move the stop to breakeven and try and extend the TP. Took an extra 7 pips than originally intended for a +37 pip trade.
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Just completed a set of nice trades on GBPUSD, charts and explanation to follow in the morning, for now, sleep!
GBPUSD has been a mini rally off the lows the last few sessions and on the 4 hour chart, there was a clear area I was interested in as highlighted by the blue lines:
On the pip range chart, I took two entries with half risk to combine for a normal risk trade across 2 entries. First one was probably too early as I was ideally waiting for 1.2325. Patience really is the key as 1.2325 was easily hit and could have saved 15 pips on entry. The 2nd trade was from the back of the US ADP figures and this was a better entry. A good day of trading and looking forward to more action tonight.
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