Technician
Short

(J) Trade 5 : Multple Pin Bars #forex

FX:GBPAUD   British Pound/Australian Dollar
5614 103 132
Trade Summary :
Short 2x0.7 lots: at 2.0160. Sopped out at 2.0212
-281.88-281.88= - $563.76
Balance: 30,362.7 - 563.76 = $29,798.94
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Update 2: Stopped Out
Update 1: Pending short limit was triggered. Trade is active.
=====================================================================

Trade 5: Pending Short GBPAUD             @ 2.0160
S.L @ 2.0212
T1 2.0052
T2 1.9985

For 30,362.7 Balance, and 2% risk per trade=$608, Position size = 1.4 lot ( 0.7+0.7)


=====================================================================

Reasoning

Based mainly on candlesticks and Momentum divergence
  • The price is testing the high of the daily long-legged doji candle, which acts as a resistance level
  • The price has formed a major gravestone doji candle on the four-hour chart
  • A clear bearish divergence is seen on RSI over the four-hour time frame

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Wish me luck and best of luck for everyone.

For Trades rules and guidelines follow this link
Journey to 100 Trades: Rules and Guidelines #forex


My best regards
Technician
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Skype: Technician - The forex channel
This really dissects reasoning behind trades and the fact that the market does what it does and can really be tricky most of the time. Thank you for this lesson.
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will it be better trading with trendline broken?
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I learned a lot and looking forward to learn more from you. I'm with you all the way until the Trade100. Thank you Technician for your valuable time and effort, you are the best! Regards! :-)
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I learned a lot .thank you.
+1 Reply
For everyone, I am open to opposing views, no issues about that. Just publish a technical reasoning behind your view so that ppl would learn better and open the viewers minds.
Otherwise, just criticizing for criticizing and discussing the details for your own trades, and what i should have done with my position, its not any helpful and not welcomed. Cause these are my own trades not anyones else.
+7 Reply
All trader know that trading is a risk, especially Forex. It is always 50/50 even a good calculated trade.
Therefore we use Money Management and risk , reward calculations.
So I think this was a good example that if we followed your rules we would all be happy.
I tank you for the time and effort you take to help us, all for free.
I am with you all the way until the last trade, still 95 to trade.
I thank you Technician for your time and effort. It is highly appreciated.
Waiting for the next trade.
Thanks again, and I wish you well .
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Technician TOP DouglasHarrison
Really appreciate it. You got what it takes.
+1 Reply
Casey_Yeo Technician
Keep it up mate. You will have good karma doing this 100 trades journey as it will show those who are really serious and committed to learn your trading methodology the reality about trading and what makes successful trading. Over the course of 100 trades, they will see losses. Not one or two losses but maybe 40-50 losses. What matters are good money management and the overall results after 100 trades. People need to learn to look at it as series of trades and not just a single trade. That's why casino has limits on bets. Otherwise, they may go bankrupt if one joker bet big and win over the house. Although I didn't take any of your five trades so far, I will be very interested to see the next 95 trades. :)
+6 Reply
Sure Casey, well said.
+1 Reply
I guess those who're hating are just those who don't know that they don't know a thing about this market. Godspeed Technician!
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