SHORT AUD/USD - Friday 09 Dec 2016 - Planning to SHORT - PoE
WARNING: Just my amateur opinion so don't follow if you don't agree! Trade at your own risk! I have a tiny account to blow so don't follow it if you disagree!
THE MARKET IS ALWAYS RIGHT! => My tiny account is not the market... haha!
1. I believe this is a time to SHORT due to ABCD formation & downward flag. I am very greedy for this ratio.
2. Looking at the 4H time frame, it is about to touch the 200 MA, which is at the same area as the 0.618 point of Fibonacci from point A to B. Which I think is a good point to short.
3. At the time of this post, I think point C had already happened or (if not) about the happen soon, which is where I will place my SHORT => See the tiny zone where the arrow is pointing to? Just inside the curve and in the red bit? That is my shooting range!
4. I will place my SHORT in that zone, if the price keep going up to 0.75000 I will keep selling. Each position I enter is 0.01 only. I will enter the maximum of 5 positions.
5. All of my Stop Loss (SL) is at 0.75100 or when my account is forced to close. (I have a tiny account).
6. I intentionally set that tight SL is due to testing my Point of Entry. I need it to be precise so minimise lost and because I have a tiny account, I need to be very careful of where I place my positions. This is the practice test!
7. From 0.74848 to 0.75000 I will place maximum of 5 shorts. Each I will exit at the Target 1 to 5 as marked on the graph.
8. I will exit the one with the worst selling price first (0.74848) and wait for the SHORT at 0.75000 to reach Target 5.
9. I will risk my whole account. Starting at 34.54 AUD. SO DO NOT FOLLOW IF YOU CAN'T RISK IT.
10. Once I reach my Target 1, 2 and 3, I will have a trailing stop for the other 2 positions or I will place the SL at Target 3 depends on the situation. I expect 1, 2 and 3 to be reached only. The rest is bonus and might take a month to happen. My goal is to reach 100 AUD by the end of this trade.
Anyway, Happy Trading!
THE MARKET IS ALWAYS RIGHT! => My tiny account is not the market... haha!
1. I believe this is a time to SHORT due to ABCD formation & downward flag. I am very greedy for this ratio.
2. Looking at the 4H time frame, it is about to touch the 200 MA, which is at the same area as the 0.618 point of Fibonacci from point A to B. Which I think is a good point to short.
3. At the time of this post, I think point C had already happened or (if not) about the happen soon, which is where I will place my SHORT => See the tiny zone where the arrow is pointing to? Just inside the curve and in the red bit? That is my shooting range!
4. I will place my SHORT in that zone, if the price keep going up to 0.75000 I will keep selling. Each position I enter is 0.01 only. I will enter the maximum of 5 positions.
5. All of my Stop Loss (SL) is at 0.75100 or when my account is forced to close. (I have a tiny account).
6. I intentionally set that tight SL is due to testing my Point of Entry. I need it to be precise so minimise lost and because I have a tiny account, I need to be very careful of where I place my positions. This is the practice test!
7. From 0.74848 to 0.75000 I will place maximum of 5 shorts. Each I will exit at the Target 1 to 5 as marked on the graph.
8. I will exit the one with the worst selling price first (0.74848) and wait for the SHORT at 0.75000 to reach Target 5.
9. I will risk my whole account. Starting at 34.54 AUD. SO DO NOT FOLLOW IF YOU CAN'T RISK IT.
10. Once I reach my Target 1, 2 and 3, I will have a trailing stop for the other 2 positions or I will place the SL at Target 3 depends on the situation. I expect 1, 2 and 3 to be reached only. The rest is bonus and might take a month to happen. My goal is to reach 100 AUD by the end of this trade.
Anyway, Happy Trading!
Trade active:
Short Position 1: Active!
Trade active:
Short Position 2: Active!
Trade active:
Short Position 3: Active!
and a very big wig on my chart... I guess Position 4 and 5 won't get filled... *crying*
Feel free to enter any manual SHORT if you would like to when you can get better price...
and a very big wig on my chart... I guess Position 4 and 5 won't get filled... *crying*
Feel free to enter any manual SHORT if you would like to when you can get better price...
Trade active:
Manually placed Short Position 4 and 5!
Thinking positively: Price going down now would be great!
But hey... I placed my SL ... did u?
Happy Trading Everyone!
Please drop hard ! Please drop hard!! lolz...
Thinking positively: Price going down now would be great!
But hey... I placed my SL ... did u?
Happy Trading Everyone!
Please drop hard ! Please drop hard!! lolz...
Trade active:
Added 1 more SHORT position! Total 4 now!
Comment:
Added 1 more SHORT position! Total 5 now! as it just touched my 200MA on 1-minute chart!
Comment:
Good news... it continue to go down... break through 200 MA of 15-minute timeframe... looks like it can't break the 0.748 entry level ...
Bad news... we don't know what will really happen the next minute... to be safe you can move your SL to 0.74870 just above the 0.618 Fibs level to be safe in case it bounce back ... I hope this won't happen but I don't know... so I am playing safe with my tiny account ...
Bad news... we don't know what will really happen the next minute... to be safe you can move your SL to 0.74870 just above the 0.618 Fibs level to be safe in case it bounce back ... I hope this won't happen but I don't know... so I am playing safe with my tiny account ...
Trade closed manually:
All trades closed for the weekend! I really wanna swing it till it reach my target... but realising my account size im happy that I reach my target for now and build up my capital!
Anyway, it did drop as planned and I am looking at my 5-minute chart now: what happened was it hit the 200 MA (Moving Average) and continue to drop so I guess it will continue ... BUT we don't know how the market will behave! So I moved couple of my SL down just above my 200 MA and may be at the 24 MA.
Just now 1 of my position is stopped out so I will SHORT again manually when it touch the 24 MA. Again only 0.01 and 5 max in total.