This will be my 6th trade of the month if it gets triggered at entry. You can see all my past trades and comments on my profile, we want to test out our ability to use technical analysis with risk management over a set number of trades to know if we have an edge and give us a statistic edge.
This will be my 5th trade, if I get stopped out I have a second attempt at longing.
1)EUR/USD- Winner (+2R)
2)GBP/NZD- Loser (1st attempt) (-R)
3)GBP/NZD- Loser (2nd attempt) (-R)
4)NZD/JPY- in progress
5)EUR/AUD- in progress
-Heres a few of my other set ups I will be waiting for if they get triggered
-They are set up as OCO (one cancels the other) if the shorts get triggered the bull set up will be canceled and not taken, and vice versa.
-Part of trading is learning whether your strategy works or it doesn't?
-If you want to treat trading like a business you have to know if the way you see the market allows you to make a calculated risk and make money over time.
-I will be posting all my trades this month in the 30 min timeframe only, we will see how many trades in February I take, how many are...
im not one to trade candlesticks but when 2 signs that can push this down are blatantly showing its hard to ignore..but the bulls still dont want to give up.. I will be eyeing this for the downside if it happens.. id be inclined to go long but its against my strategy so going to be patient and sit it out until/if it goes down.
This is one of my personal favorite strategies to play when it comes around.. here indecision in the 4 hour and it has decided to make a move up.. as always anything can and will happen so just have your stops ready in case this goes downhill. Cheers
GBP has been bearish and we can all see it, but right now its flirting with a short squeeze. Last zone of defense for sellers is the 1.28 area.. if we can break that lot of stops will fuel us to a move up. If buyers fail and break support again we will be seeing a lot more downside. Keep an eye on DXY as it will help on knowing what is up.