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Lchimoku

GBPCAD Update (D)Refer to link provided below. Excellent profits on GC price went up +220pips. Similar situation as EU I was tempted to keep holding, potentially through the weekend & assume price is going to keep going up. I'd prefer not to hold positions over the weekend. As it gives me an opportunity to start the next week fresh. In this case a new month. Price broke the 1.76000 levels & spiked up another 70 pips before reversing back. My trailing stop loss got hit +150 pips secured. Entry 1.74568 Exit 1.76066 If price breaks the 1.76000 levels again I may consider entering a short term long position. Again always consider what you could've done better. Very similar scenario as EU. Perhaps a lower TP 100-200pips instead of 500-700pips would've been more ideal to secure more pips. Onto the next, there is always risk in trading.
by CxLlN
EURUSD Update (W)Refer to link provided below. Excellent profits on EU price went up +130pips. I was tempted to keep holding & assume price is going to keep going up Due of the weak US Dollar, combined with other factors such as breaking previous monthly highs. Price broke the 1.19000 levels before reversing & creating a new resistance level. My trailing spot loss got hit +40 pips secured. Entry 1.17786 Exit 1.18186 Always consider what you could've done better. Perhaps a lower TP 100-200pips instead of 500-700pips would've been more ideal to secure more pips. Onto the next, there is always risk in trading.
by CxLlN
GBPJPY Short Swing Update Price continued to go down to 134.350. +15 pips However price found support reversed & stopped me out -50pips. Price didn't respect the overall trend, going to sit on the sidelines in the meantime. Potentially, may look for longs if price breaks the top of the cloud (D) @135.577, breaks the 9 day MA (M) @135.600 & retests as support. Lagging span pointing towards the upside on all time frames. (M), (W), (D), (4hr) There is always risk involved in trading. Notes taken on to the next!
Long
by CxLlN
1
EURCAD Swing Long UpdatePrice didn't respect the higher time frame analysis. And stopped me out @1.51000. 29pips Going to sit on the sidelines for the time being. Refer to my Daily analysis & compare it with the weekly & monthly. Links provided below. There were more indications of a short than a long. -Lagging span pointing downwards on D,W,M time frames. -Price broke through 26 & 9 day MAs on D,W,M time frames. -Price broke through bottom of cloud on D. All chimoku indicators on the Daily were strongly towards a short. Thus why i set a tight stoploss. I wanted to see if price still would respect the overall trend based on the higher time frames. I was wrong. Perhaps I could've set a bigger stop loss, regardless I still have a open long postion on GJ up 200 pips. So I was willing to take the chance, with a lower lot position & a tighter stoploss than normal. There is always risk involved in trading. Notes taken on to the next!
by CxLlN
1
EURCAD Swing Long (D)I'm still sticking to my weekly & monthly analysis of EURCAD. I'm predicting price to reverse the overall trend is still bullish on the monthly time frame also the twist on Weekly indicates a reversal. However price may keep going down since it broke through both MAs. However price broke through the 9 day MA @1.52204 Price also broke through the 26 day MA @1.52932. Price broke through the bottom of the cloud @1.51276. Also the lagging span I forgot to mention in the Weekly & monthly analysis is pointing towards the downside as the daily. The daily chart is strongly indicating a short, however I'm sticking to my long time frame analysis. We'll see how it plays out currently in a 18 pip drawn down. I set a tight stop loss to experiment is price respects the higher time frame trend/analysis. We'll see how it plays out. If I get stopped out, I may look for shorts. Entry @1.51291 TP 390 pips SL 29pips
Long
by CxLlN