After analyzing the trade that I failed this morning, I decided to double down and identify the correct entry for a winning trade. The consolidation period that happened through Asia session was particularly slow. From there, price rose about 20 pips, (stop-hunt high) and then proceeded to make lower highs, and lower lows. In addition, a break, and a close below...
Started watching the Gold level around 1493.60 as the upper bound, and the lower bound being 1491.60. One thing that I though was really interesting is how to consolidation period through asia, and most of london was fairly dead. I took buys at it appeared to be leaving the value area, and quickly put the S/L at break even. Price came back down almost immediately,...
This particular position is still developing. I am waiting to see what happens at this particular consolidation area. In my analysis, if the area of value between 1497 and 1500 is accepted, and we see volume at its current level, or rising, or next likely target is close to 1512. If we reject the area of value, and break down, or target to the downside would be...
I am learning how to use volume profile, in addition to learning how to run my analysis. For this particular pair USDJPY, I noticed where price did bounced off of. It acted as a support, and the low volume node bridge is an indicator that price was going to turn around and head back towards a point of control, as well as head towards a value area with higher value.
This trade appeared to work out perfectly. Painted a picture perfect bull flag, in addition to rejecting a specific level around 1475 on the low end, and 1478 on the high end of the level. The smma crossed north through and fanned out in a bullish manner. My entry was based off of the retrace of the bull flag, in addition to price closing above the cold smma. One...
This post is to publish the entry I took for gold based off of the trend bands, and the trade plan I setup earlier. I expected the bull flag to be a continuation of the trend. In addition, I saw the trend bands come down, and gave me all of the signs that point to a continued uptrend.
I am looking at a swing trade for Gold. My concept is this. If price is accepted where we are now, then the next high volume node is around 1505. That will be our target if both support zones hold. On this particular chart, the support zones are actually the low volume nodes on the chart.
This is more about understanding volume profile more than anything else. I actually set this trade up based off of the candles to the left wicking low, and my entry was the break of those particular wicks. One thing that I found really interesting about where I put my entry at, was the fact that most of the other candles above had a magnitude of a particular...
Took CADJPY LONG for about 15 pips. Not entirely sure why I entered this trade, but I did nevertheless, and it did make me profit.
Entry (1) : 81.535
Entry (2) : 81.535
Exit (1) : 81.664
Exit (2) 81.666
Total P/L : + $2.41.
EURJPY Long. Got stopped out.
Buy 0.05
Entry: 188.010
Stopped Out : 117.908
P/L - $4.71
Why did I buy this? I was expecting it to break out into what I believed was going to be a bull flag. Turns out, it did not break out, and I got stopped out instead.
Took BTCUSD Long because of the green sun indicator for btfm peaks. Not only that, but it appeared that the trend was bottoming out, and would likely get bought back up for balance. In addition to that, the CCI was below -100. After moving 90 pips, I decided to close the trade, and take my profits. Had I held the trade, I would have hit my target for the day....
Took this trade based off of an idea that I had marked up last week. In my opinion, I believed that when price reached the level around 1.96, we would see some downside. Turns out, the trade that I took was good for about 15-16 pips and a total of $4.32.
For this position, I waited for the bottom of the trend to form. From there, my pre-confirmation of entry is the two smoothed moving averages, periods 7 and 14 squeezing together. The next point of confluence was market price coming near the 33 smma (smoothed moving average). In order to pinpoint exact areas of price, you must switch over to the candlestick chart,...
Analyzing Gold has led me to see a play that could potentially be worth 500 pips. After analyzing the current market price, and the price cycle that has unfolded over the last few weeks, we have broken below the current POC or Point of Control, which we are currently sitting under. If price respects the point of control, and there is not enough volume to break...
At this point, USDJPY has been in heavy consolidation at the bottom of this range for some time now. Heavy consolidation mixed with an ever increasing trade war is the recipe for disaster. Breaking news reports of 141% tarriffs, yes 141%! tarriffs on chinese steel should help jumpstart a strong dollar correlation. Ultimately 5 targets chosen with a final end point...
Based off of what I see, NZDJPY has started a bull cycle for the month of September. Assuming we maintain current volume, and maintain the current trade war, I do believe we could see a final target of around $74.00
Looking at this chart. It appears as if there is a consolidation period happening at the current market price. Based of of the monthly chart, we are bullish. As well as the weekly chart. And in terms of trend on the daily, we appear to be bullish for now, but seem to be showing signs of exhaustion. Moving down to the 4 hour, there is no context to the left since...
