Again a snatch of EURPLN short trade late in the evening with my best setup I wait for each day.
Attached Image (click to enlarge)
Got a good start to the day with GBPAUD. GBP running very strong against the AUD and reached a range of 140 pips by London open. London can be an excellent time for a reversal or a continuation of the trend and I waited for a direction. Price closed beneath the cloud and then caught the retrace and got a reasonable exit for +38 pips.
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I had a further EURAUD trade last night which I'll post later when home from work. Very similar setup to Tuesday night.
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GBPUSD trade. Price since the Retail Sales had been in a fantastic range between levels:
Good setup on the pip range charts and felt once that little level gave way, price could accelerate lower which it duly did.
+30 trade.
EURAUD 2nd attempt finished with +30 also which I'll post later.
Good setup on the pip range charts and felt once that little level gave way, price could accelerate lower which it duly did.
+30 trade.
EURAUD 2nd attempt finished with +30 also which I'll post later.
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Didn't judge this trade all that well at all. Had stars in my eyes aiming for the low of the day around 1.2380 area given the range was so small at 44 pips. Should have taken my usual action and exited at the BRN at 1.2400. Ah well, will file this away as lesson learnt.
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One of my number one rules is to never go in the same direction when trading correlated pairs. However, there are always exceptions to the rule/s. I entered this short whilst still short GBPUSD on the trade above but the absolute biggest factor was I had my stop at breakeven on GBPUSD therefore I was willing to participate in the short GBPAUD.
I noted the divergence and waited for a break below the cloud and once price finally decided to break 1.6800 I was looking for a quick move and it came very quick. +48 pips so a pleasing result.
I noted the divergence and waited for a break below the cloud and once price finally decided to break 1.6800 I was looking for a quick move and it came very quick. +48 pips so a pleasing result.
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Another week upon us and Christmas is edging closer and closer! We've even managed to put the tree up already!
Good start today with GBPUSD forming a double top and the AO going sharply lower. Low risk trade and a nice +27 pips to start the day.
Good start today with GBPUSD forming a double top and the AO going sharply lower. Low risk trade and a nice +27 pips to start the day.
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I'd been waiting for EURUSD to pop a little higher and eventually got the entry I wanted. I was watching it from 1.0630 area and very nearly entered but told myself price will come to the area and sure enough patience was the key.
Area highlighted on 15 minute chart:
Pip range chart: +21 pips.
Area highlighted on 15 minute chart:
Pip range chart: +21 pips.
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A GBPUSD trade here with price resting on an MA on the time based chart and a nice setup on the pip range chart as seen on the chart. Price hit the same level whilst the AO went noticeably higher. Price had attempted to clear 1.2490 for a good 20 minutes and I originally was targeting 1.2500 area but decided to take +20 as EURUSD looks prime for a move lower which could drag GBPUSD with it.
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2nd trade and final one of the night with EURUSD. As mentioned above, I thought EURUSD had some downside potential and I was eyeing off 1.0650 area closely due to this chart:
Looking at the pip range chart, price made a higher high whilst the oscillator made a lower high. +20 pips.
Looking at the pip range chart, price made a higher high whilst the oscillator made a lower high. +20 pips.
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Late start to the evening trading as it my son's graduation from Kindy. Yes there is such a thing!
EURAUD had a fair size move down and found support and once price came back for a test, took the entry. Something I am trying to improve on is adding to the trade and was watching price closely as it was bouncing around 1.4285-90 area. Used the cloud a support and added to the trade. Added 9 pips to the result for a total of +36 pip start to the day.
EURAUD had a fair size move down and found support and once price came back for a test, took the entry. Something I am trying to improve on is adding to the trade and was watching price closely as it was bouncing around 1.4285-90 area. Used the cloud a support and added to the trade. Added 9 pips to the result for a total of +36 pip start to the day.
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Final trade of the night on GBPUSD. Price had found a level around 1.2365 area and I noted the trendline forming on the chart. Price broke clear of it and then came down for a retest which formed a double bottom. Took the entry and exited for a +21 pip trade and a good end to a short evening's work.
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I was expecting a reasonably quiet day today with it being Thanksgiving in the States with most people heading away for a 4 day weekend. Set a conservative target of 1.4280 and I was reading an article and flicked back to see EURAUD had steam rollered down 30 pips within a few minutes in what I presume is thin volume. Didn't quite nail my first entry and allowed myself some room by adding into the trade.
Watching EURUSD closely after a near perfect pip bounce off 2015 lows at 1.0521 area.
Watching EURUSD closely after a near perfect pip bounce off 2015 lows at 1.0521 area.
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EURUSD reacting well to levels and whilst I missed the original setup, price did retrace enough to allow me in and took a small 10 pips which will do nicely to round off the evening and I'll leave it there until tomorrow. Looking forward to doing this full time again as the hours are 10x better than my current job!
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First trade of the night with GBPAUD. Not the greatest of trades however I took something out of market which is always a bonus. Very cautious of the UK news coming out shortly so I took +19 pips and will wait for further opportunities.
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