Simple and profitable trading style

When strong setup is formed at the wrong place it has to be ignored. I have said this before, just trying to repeat because of the current upward move by NZDJPY today. The strong shooting star on the weekly was not only strong but also had a strong confirmation- the strong bearish candle. But it was formed at the wrong place. The weekly bollinger bands are strongly separated. AS I said earlier it difficult for the bears to just take, except there is a strong fundamentals- a game changer.

It's interesting to see how middle band can be a potential barrier. The upward move on CADCHF was caused by the weekly middle band.

Possibly going up to retest the resistance.

AUDNZD doesn't seem to be a good pair to trade. Any input/contribution on this pair is highly welcomed. I know that my mentor doesn't trade AUDUSD, EURCHF. I do not trade EURCHF- it doesn't performed even with great setup.

I will be adding AUDNZD to EURCHF to be out of my way. Possibly strongly correlated currencies don't move as expected

Few days to end of the month NZDJPY is not doing badly on the monthly TF, following a Doji candle on the previous month.

I will be focusing on the Stochastic in addition to our main discussion here. It has been performing so well, though I made a mistake in my positions. I will share them later- the strategy, mistakes and the lesson(s) i have learned from using it.

The mistakes were made on USDCAD long and AUDNZD long

While I continue to ride NZDJPY long trade am using Stochastic on overbought and oversold to collect few pips from the pairs that are not trending. It's good for ranging market

NZDJPY is gradually going overbought. There is already a resistance at hand to be either broken or not. Even if it's not broken it may just be a retracement and not a reversal. This is because the trend is too strong on the three time frames

Here is the broken support, now acting as the resistance- the blue mark

The mistake I said I made was failure to set the stop loss below the supports that were not broken on both the AUDNZD and USDCAD. I closed the two positions even when the SL was not triggered. It cost our position when we're too picky with SL size- big lesson. The two are making the same setup again after a retracement. Mistakes are part of the game. What we learn from the mistakes is more important

The strong broken support, now resistance is being strongly retested.

what is the win rate..of this..

Am into trend trading/swing trading. I close when I see a reversal signal on exhausted/sideways on sideways market. I have example of the trend I have been in. It's currently retesting resistance. This is not a reversal signal

I also use the Stochastic to pick some pips on some pairs while riding on strong trend

I posted earlier about the mistake I made on USDCAD long. I wouldn't have been out by now. That's if using the stochastic on overbought/oversold. I have the blue mark where my SL ought to have been, below the support that was not broken when stochastic left oversold

I love the lesson I learned. But the mistake was not made on my CADCHF short and EURAUD long. Am still in the game on the pairs.

Mr Stochastic can be rewarding. I will be sharing their setups right here

One of the interesting thing about the Stochastic trading is that it works even on ranging market. All we need do is that when it has got to overbought look for strong resistance. Failure to break it has already itself on the bearish movement