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EURGBP SHORT @ 0.7996 has been closed @ 0.7971 for a +25 pips profit.
REASON FOR CLOSING:FAILURE TO TEST previous low @ 0.7962 +stlm2 m5 indicating a potential short term trend change.
USDJPY trade still open,if not stopped out will probably close it within the next 6 hours.
Hey, Simba
I was watching your trades today. Very nice execution. I would've probably closed the usd/jpy trade right after the time you closed your other two trades. "Dead cat bounce" LOL, funny name, good pattern though. I think the reason why the USD/JPY trade did not not go well was the selling pressure on the USD across the board all day long. Nonetheless it held up against the yen pretty well.
Enjoying this thread a lot:-) Thanks again!!!!
P.S. Did you notice that the g/j trade found resistance right around 61.8 fibo expansion?
Hey, Simba
I was watching your trades today. Very nice execution. I would've probably closed the usd/jpy trade right after the time you closed your other two trades. "Dead cat bounce" LOL, funny name, good pattern though. I think the reason why the USD/JPY trade did not not go well was the selling pressure on the USD across the board all day long. Nonetheless it held up against the yen pretty well.
Enjoying this thread a lot:-) Thanks again!!!!
P.S. Did you notice that the g/j trade found resistance right around 61.8 fibo expansion?
Hey Mpower,
Thanks,and congratulations for your entry on m30 2B pattern,hope you enjoyed the ride
Yes,I noticed about Fibos,and I closed the GBPJPY trade at around the 61.8%retracement of the previous downmove...too many fib confluences...anyway it still went up around 45 more pips before reversing(probably temporarily).
The usdjpy still has around 4 hours to go...the one that gave me the creeps was EURGBP,seeing how it didn`t even test the 62 area of previous low,while I expected it to test and either be rejected or see a downside acceleration,made me check the short term cycles,stlm2 m5 mainly and decided to exit..well,it was a lucky exit,sometimes you get them,other times you leave lots of profits on the table.
I expect the USD to go up this week,as I already posted,anyway ,unless price action supports that view,I won`t trade it...BTW..did you notice that the usdjpy has formed a Diamond pattern on M30? .
Tomorrow I will post the Trader`s Vic 1-2-3 pattern,let´s see if we can catch some nice move with it...or with some Fibo retracement,which are exceptional to catch continuation moves with good reward to risk ratio,self fulfilling prophecy or not..Fibos are extremely useful when used with momentum and price action.
Thanks,and congratulations for your entry on m30 2B pattern,hope you enjoyed the ride
Yes,I noticed about Fibos,and I closed the GBPJPY trade at around the 61.8%retracement of the previous downmove...too many fib confluences...anyway it still went up around 45 more pips before reversing(probably temporarily).
The usdjpy still has around 4 hours to go...the one that gave me the creeps was EURGBP,seeing how it didn`t even test the 62 area of previous low,while I expected it to test and either be rejected or see a downside acceleration,made me check the short term cycles,stlm2 m5 mainly and decided to exit..well,it was a lucky exit,sometimes you get them,other times you leave lots of profits on the table.
I expect the USD to go up this week,as I already posted,anyway ,unless price action supports that view,I won`t trade it...BTW..did you notice that the usdjpy has formed a Diamond pattern on M30? .
Tomorrow I will post the Trader`s Vic 1-2-3 pattern,let´s see if we can catch some nice move with it...or with some Fibo retracement,which are exceptional to catch continuation moves with good reward to risk ratio,self fulfilling prophecy or not..Fibos are extremely useful when used with momentum and price action.
Regards
Simba
Definitely enjoyed the ride on that g/j trade. Hit my t/p at 200.41, but there were no signs of reversal at the time whatsoever....Never learnt to ride my trades, but this time it was not that bad:-)
The book says that the "dead cat bounce" has a high failure rate, but I think it makes a lot of sense and it might be especially useful after news anouncements, as it is common for the price to drop(for ex.) retrace and continue dropping--seen it so many times after NFP. We'll see.
Thanks for pointing out the diamond on usd/jpy M30, never noticed it.
Check the screenshot, I think we have a dragon at the same time(have to re-read the rules for that) sorry for the messy screenshot.
Definitely enjoyed the ride on that g/j trade. Hit my t/p at 200.41, but there were no signs of reversal at the time whatsoever....Never learnt to ride my trades, but this time it was not that bad:-)
The book says that the "dead cat bounce" has a high failure rate, but I think it makes a lot of sense and it might be especially useful after news anouncements, as it is common for the price to drop(for ex.) retrace and continue dropping--seen it so many times after NFP. We'll see.
Thanks for pointing out the diamond on usd/jpy M30, never noticed it.
Check the screenshot, I think we have a dragon at the same time(have to re-read the rules for that) sorry for the messy screenshot.
Hi Mpower,
Probably NOT a Dragon ,second leg length is more than 127% of the first..though,with a 2B who wants Dragons?..2B or not 2B..that is the trade
All trades closed,Usdjpy closed practically at cost,a few minutes ago, with 9 pips profit,please see attached detailed statement.
Hi Simba,
I just ordered that book looking for something new to learn , thx for sharing
Skyline...congratulations,hope you enjoy it and that you can contribute to the debate and the thread like jbfx and mpower are doing ..and hopefully other members will do too ...sooner or later
Regards
Simba
P.S:Non dimenticare di fare tutti i test necessari per sapere quali sono i pattern che vanno meglio al tuo stile di trading ..ciao
Oh, we don't need a thread about me and my trading prowess. You are too kind. 
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