Technician
Short

(J) Trade 5 : Multple Pin Bars #forex

FX:GBPAUD   British Pound/Australian Dollar
5584 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
=====================================================================
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

Don't forget to click the Thumbs Up
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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Sniper_Trading
a year ago
Agreed ...
Reply
Been an awful lot amount of pins lately on the D1. I have been in and out. Getting bored with this one. the news may turn the pair to the downside, but GBP has been strong.
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Technician TOP PriceActionTrading
a year ago
Yeah, aiming for a quick retreat.
+1 Reply
Tijmen_K
a year ago
good trade settup! great work
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I would take special care in this position. You just have a Pinbar in 4H chart, but the main picture is to the north.

snapshot
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Technician TOP yofxtrader
a year ago
Yeah sure. This is the weekly chart, i am looking for a quick short term short.
+1 Reply
Technician TOP Technician
a year ago
Anyway, i have my stop loss in place :)
+1 Reply
jhoyos Technician
a year ago
Hope it does work out. I haven't taken the long though. Anyway, GBPUSD is heading to the north, actually recovering after the CPI number. On the other hand, AUDUSD has more momentum to the downside, although in smaller timeframes is consolidating in this levels.

Your trade can work, but I think your probabilities are smaller than the ones you usually trade. I follow your trading carefully because I like a lot your aproach to the market, but in this case I am not taking this trade. Hope I am wrong (since I am not trading) and you are right, so you can book another profit.

I would bet though that this trade will be a loser, but I wish you luck!

Thanks for your job! You have my thumb up at any case!
Reply
Technician TOP jhoyos
a year ago
Thanks
+1 Reply
jpalba10
a year ago
Thanks Tecnician....
One question, it doesn´t matter to have trade 4 on long position with GBP and trade 5 short position with GBP as well?
Thanks from a beginner!
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Technician TOP jpalba10
a year ago
I closed trade 4 earlier.
+1 Reply
ashif030
a year ago
Good Luck :)
Reply
Technician TOP ashif030
a year ago
Thanks :)
+1 Reply
Update 1: Pending short limit was triggered. Trade is active.
+1 Reply
DouglasHarrison Technician
a year ago
Your timing was perfect.
I drew a support line on the 5 min chart.
Still entered the trade as specified. Even while I new that the price is still above the support line. I trusted that you would not give a signal to enter if you thought it could go much higher.
A few bars later the support line was broken with a massive sell-off.
Well Done !

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ashif030
a year ago
Trade is active :)
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I was short, but seems like we will have to wait for the UK data to come out for it to move.
+1 Reply
iznogood
a year ago
filled, GL guys!
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DRK
a year ago
Filled....
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Filled too. God help me now.
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Ansari
a year ago
many thanks,Technician .
your ideas very useful for me.
snapshot
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sunnyypunjaabi
a year ago
looks nice,good set up mate
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mrkris
a year ago
Nice litle short one.
Waited to the very top. Got in at 2.019 and now got a quick 25 pip profit.
I think to get out at 0.618 retr. Because its a LT bullish trend.

Thnx Technician.
Nice One
+1 Reply
fasttrader
a year ago
Nice trade so far.
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Tijmen_K
a year ago
cant go in.. not having a broker @ the moment.. some recommendations for a new broker?
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Tijmen_K Tijmen_K
a year ago
nvm
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mrkris Tijmen_K
a year ago
Until recently I would say FxPro.
I have a account there a few months now.
Their customer service is excellent . I had some minor issue which where solved adequately and quick.
But yesterday they slipped my SL on a simple gold move more than 100%.
Fortunately I had a small pipvalue set. but nevertheless.
I understand slippage whe there is some big newsevent or some big sudden movements.
But not in the regular trading days.


their cTrader platform has off lately a few short disconnects a day.
But I think thats Spotwares issue.

For now I'm not planning jump ship yet.
But they have scored a yellow card with me.
Another attempt to steel from my account And I bailing.
+1 Reply
Technician TOP mrkris
a year ago
I had a bad experience with them as well. Very bad execution..
+1 Reply
DouglasHarrison mrkris
a year ago
It is always good to have more than 1 Broker. I suggest opening an addition account anyway. I use 3 Brokers.
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tigrand1 DouglasHarrison
a year ago
And they are? If its not a secret? I'm still using plus500 but looking for other brokers
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Technician TOP tigrand1
a year ago
read recently alot about plus500, freezing accounts!
+1 Reply
tigrand1 Technician
a year ago
I have 2 accounts, i fund both account with my paypal witch is linked with my bankaccount. But now i want to take some money they say its not alloud to use on 2 different acounts...
Reply
bloodbath mrkris
a year ago
In my country we have a saying. You fool me once it's you to blame, you fool me twice the blame 's on me.
If I were you I would bail YESTERDAY. No second chances were money is involved because nobody's going yo give YOU a second chance.
Take care !
+1 Reply
mrkris bloodbath
a year ago
I know you are right.
But in my country (NL) there is a saying: "van de regen in de drup" that basically means that while going to another broker things could be much worse.
Finding a good broker is not that easy taking to account how much professional scammer-brokers are active in the field of retail-trading.
And their website all are shiny and flashy. full with BS promises.
So finding a good broker is mostly on trail and error.
For now they stole only 15eur from me.
Taking into account that there customer service very good and personal, I'm not willing to bail already.
It only signaled to me to start another quest for a new broker.
So for now I only investigating other brokers.
But another 15bucks and I'm jump ship.

Best Regards,
Reply
bloodbath mrkris
a year ago
Of course you're right.
Your argument is solid.
Therefore stick with your stealing broker.
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DouglasHarrison Tijmen_K
a year ago
ig.com - Guaranteed stops. Spread on EURUSD = 0.8 pips.
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toninvestor
a year ago
in too, good luck guys
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Tijmen_K
a year ago
Pending an order @ 2,0157 lets see if it reach that point
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Casey_Yeo
a year ago
Good luck mate
+1 Reply
Technician TOP Casey_Yeo
a year ago
Thanks Casey, always love to hear from you,
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Tijmen_K
a year ago
in the trade aswell good luck everyone!
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stomeg01
a year ago
triggered. thankyou technician. lets see.
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TahirAli
a year ago
I just woke up thats why I saw it late.My limit order is still in pending.Good luck for everyone who is on with the trade and thanks Technician for sharing.
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deekayusa TahirAli
a year ago
Get in Now last chance
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deekayusa deekayusa
a year ago
Might test 2.0190 third time and go down ...
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TahirAli TahirAli
a year ago
Filled.
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alexfa
a year ago
sorry technician... novice here... i'd like to ask you how you determined the entry level... most apprecitaed... thx!
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Technician TOP alexfa
a year ago
I used the high of latest swing , the high of 17:00 Candle on the four hour chart.
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Technician TOP Technician
a year ago
I mean, that high could be the resistance, so i would short near it.
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IvanLabrie PRO Technician
a year ago
I believe there is something big brewing in eur and gbp aud/nzd crosses.

snapshot
+2 Reply
HamedAghajani PRO IvanLabrie
a year ago
The same is for NZDCHF. I went long this pair today, targeting 0.382 and 0.5 retracement of the bearish leg.
Reply
Update 2: Stopped out
+1 Reply
stomeg01 Technician
a year ago
stop hitted. pas mal. keep sharing your view with us. thankyou.
Reply
Technician TOP Technician
a year ago
Trade Summary:
2x0.7 lots: -281.88-281.88= - $563.76
Balance: 30,362.7 - 563.76 = $29,798.94
+1 Reply
No_more_Post Technician
a year ago
Good luck , pro. Try to make profit,
You are right I Am a beginner, If you see only my chart,
But for my profit and lose , I think I am not a beginner, ;). Maybe, I was lucky , because my last 50 trades, still,profi;)
-5 Reply
HamedAghajani PRO No_more_Post
a year ago
Hello CassowaryCapital, Your attitude is discouraging for followers here. Nobody is forced to follow technician's idea, and every responsible trader should do the due diligence before investing any capital. You are free to comment on your treads and advertise your equity growth. The time may unravel your precious ideas to the thirsty traders in this community. But for moment please only be more supportive and constructive of +7400 followers of this trader. Thanks and with the best regards, Hamed.
+3 Reply
iznogood Technician
a year ago
still at trade, 2.02120 don't hit in my broker
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iznogood iznogood
a year ago
...Stopped out, let's go to next trade.
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ValeriuV Technician
a year ago
sorry about that, but in my humble opinion is not fair for you to be stopped out and take a loss while many other traders took some profits from your ideea. If you allow me a POV a think you should be more flexible about closing the trades when they are almost at the tp instead of taking the loss. If I'm not mistaken that was the case with tha gbp-chf. Sorry if I upset you in any way,
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Technician TOP ValeriuV
a year ago
Lol. Sir, these are my trades , i dont know what others do.
+1 Reply
ValeriuV Technician
a year ago
I know, you are a real pro and don't want to change the plan as you go along. I'm just sorry that others ( including myself ) profit from your ideea and you are not. that's all. Will be other trades which will end up in profit. best of luck
-3 Reply
Technician TOP ValeriuV
a year ago
Thank you :) . I look for profits on the long run, so one trade means little to me.
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HamedAghajani PRO ValeriuV
a year ago
Hi ValeriuV, Would you mind to publish the details of you equity growth (including entries and exits) for these 5 trade ideas. This help us to understand how do you trade these ideas!!
+3 Reply
ValeriuV HamedAghajani
a year ago
hello Hamed, first of all I never said that I took advantage of all the trades ideeas posted. I'm new at this and I mostly observe how the pro's trade in order to learn for myself.
I only took some profit from 2 of the trades: today I sold the gbp-aud at 2.0190 (sell limit) and closed it at 2.0139 (16.08.54 sec, broker time). few days ago (12.06.2015) on gbp-chf sold 1.4482 and closed at 1.4467 (13.48.34 sec, broker time).
We are men and I don't think we have to prove something beyond our word.
I don't intend to start a argument with anybody.
Hope that does not offend you.
only the best
-4 Reply
jetmac88 PRO Technician
a year ago
MM must have saw all of the orders and pushed price up there to fill. I don't use stops on my platform just draw a line on the chart where I want to stop myself out. My trade is stil open, maybe it will push back down, Gravity :-)
+1 Reply
ValeriuV jetmac88
a year ago
I know for a fact that all the banks (brokers) see in real time all the stops and act accordingly with they intrests. Our stops are theyr liquidity.
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moorekapital PRO jetmac88
a year ago
Ha
What if price keeps going up, and your capital keeps vanishing....??? Consider a case of SNB action. Would you be alive to trade again tomorrow.........???:)
+1 Reply
jetmac88 PRO moorekapital
a year ago
I don't not exit a losing trade, I just don't enter my stops into my brokers platform, that way I have no order to be filled.
+1 Reply
IvanLabrie PRO jetmac88
a year ago
Not a bad idea if your position size is calculated properly, as long as you're there to monitor the trade.
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jetmac88 PRO IvanLabrie
a year ago
it is, i am
+1 Reply
IvanLabrie PRO jetmac88
a year ago
I entered a short here again, so with you. Very wide stop.
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ashif030
a year ago
Now waitinf for trade no. 6
+6 Reply
Technician TOP ashif030
a year ago
Thanks for support ashif
+5 Reply
Mates, i will rest for today. Tomorrow is another day. Keep posted, we haven't started yet :) ...
+12 Reply
iznogood Technician
a year ago
Good night sir...:)
+1 Reply
Tijmen_K Technician
a year ago
Goodnight Friend :)
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DouglasHarrison Technician
a year ago
Yes, all good trader who have made money trading, know that with every trade, you take a calculated Risk. So I do not understand why some traders are unhappy. Plan your trade, the trade your plan, never deviate. Never Look back, Look at the next trade, Plan the Trade and Trade the Plan.
I am Happy to trade with Technician, We are still in profit if we all followed the rules of Technician.
So why are there unhappy people.
+2 Reply
ChetanFX
a year ago
SL triggered..
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TahirAli ChetanFX
a year ago
Its part of the game.Please stay tune.
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Kenyanpiper
a year ago
that setup was against the long term trend. odds were stuck against a fellas!
-5 Reply
TahirAli Kenyanpiper
a year ago
I think it would be better that you start teaching us how to trade instead of "Technician" as it seems that you know the overall market better than him.
+4 Reply
Kenyanpiper TahirAli
a year ago
i surely do not know the market, no one can claim to have complete mastery of the game, but all i am saying is that whichever wave you are trying to catch, big or small it is futile to swim upstream. Always!
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dionvuletich Kenyanpiper
a year ago
Why do you say that? do you know Technicians strategy and have tested it?
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jonatsgonats
a year ago
I learned that even if UK GDP hits -1,000,000% or if Pound ceases to exist, GBP will rally 1,000,000,000% against all currencies.
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HamedAghajani PRO jonatsgonats
a year ago
Informative- Thanks for sharing. :)
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kamukak
a year ago
Should get to 20600 before any meaningful pullback.
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rv
a year ago
And shows how the proper positioned Stop Loss, on a planned trade, saved you from a large loss, and kept your 'balance' intact for the next trade.
thanks Technician.
+6 Reply
Technician TOP rv
a year ago
This is a golden comment my friend.
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Guys, don't worry to the negative comments, i don't care about them cause I am doing this for the lovers not the haters.

Side note: I am sorry if you follow my trades and get loss, but generally i mentioned that these are my own trades and not a recommendation to buy or sell. Everyone responsible for his/her own decisions.
+6 Reply
Technician TOP Technician
a year ago
Also the main goal of this initiative is to educate how to think as a trader.
+3 Reply
fasttrader Technician
a year ago
No worries here. You can't win every trade. You win some and you lose some. The goal is to win more then you lose.
+4 Reply
Technician TOP fasttrader
a year ago
True. Lets just ignore the noise and concentrate on trading.
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ajujohn Technician
a year ago
We all are eagerly waiting for your TRADE#6 :)
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FX_CLEVER
a year ago
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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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
DouglasHarrison Technician
a year ago
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 .
Reply
Technician TOP DouglasHarrison
a year ago
Really appreciate it. You got what it takes.
+1 Reply
Casey_Yeo Technician
a year ago
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
Technician TOP Casey_Yeo
a year ago
Sure Casey, well said.
+1 Reply
viooooolam
a year ago
I learned a lot .thank you.
+1 Reply
LucyW
a year ago
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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will it be better trading with trendline broken?
Reply
nukenoobfx
a year ago
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.
Reply
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