GBPCHF Potential Homerun LongGBP has been weak for several days and CHF Strong. this pair has now formed a triple bottom with compression at 1.3099. Although the cloud remains thick, it is flattening. There is a high probability that this pair can explode up to The Daily Senkou A at 1.3109 (the Green line)
Entry = 1.30115 (accouting for spread)
Stop =1.29915
Risk = 20 pips
Profit target = 1.3109 ( The Daily Senkou A )
Reward = 98
RRR = 4.9 -1
Multipletimeframe
GBPAUD SS Sell + 128 Pip PotnetialPrice is below the 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.8672 (60 KS)
Stop = 1.8692
Risk = 20 pips
Profit target = 1.8544 ( The projected daily low )
Reward = 128
RRR = 6.4 -1
2nd Entry = 1.8617
Stop = 1.8637
Risk = 30 pips
Profit target = 1.8544 ( The projected daily low )
Reward = 73 Pips
RRR = 2.4 -1
GBPAUD SS Long + 208 Pip PotentialPrice is above the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.8609 (the 60 KS)
Stop = 1.8589
Risk = 20 pips
Profit target = 1.8704 ( The projected daily high )
Reward = 95 Pips
RRR = 4.75 -1
2nd Entry = 1.8672
Stop = 1.8642
Risk = 30 pips
Profit target = 1.8880 (recent swing high)
Reward = 208 PIps
RRR = 6.9-1
How I trade News with high probabilty and a Great RRR :) Trading news can often be a nightmare especially trying to trade at the time of release as brokers often widen their spreads
and slip orders to the extreme of the spike.
This is a high probability method with Great RRR
As you can see the market spiked up on worse then expected AUD GDP news.
then the market went into a consolidation, and this is key to finding great entries.
After the market consolidated for at least 60 minutes, look for a support level for a buy
and a resistance level for a Sell.
Place a limit order at the support/resistance level with stop appropriate for the pair.
(in this example I am trading GBPAUD - my fav, so I use a 20 pip stop)
Place your profit target at 5x your stop. This gives you a Robust 5-1 RRR.
let the trade unfold. If you have any questions, either place them in the comments or message me
Hope this helps :)
Allen
When Not to TradeSometimes it is better not to trade. Today for me, was one of those days. I was extremely tired, which happens from time to time as I get up at 1:30 am my time to trade. This can lead to mistakes. Today's trade idea is a good example, although GBPAUD was in a bullish run and I was looking and posted an idea for a pullback trade, there was signs of a reversal. I believe if I was awake and thinking clearly, I would have seen these signs from the beginning. Fortunately, I was able to close my long trade for a small gain (+ 5 pips). The following is a list of indications that I missed because I was tired.
First, The market had already pulled back and bounced off of my moving average, so it is less likely to happen again;
Second, the Ma was flattening, as opposed to staying in an uptrend, which is never a good sign;
Third, I missed that the market had hit the 60 min Senkou A, which can always be expected to provide resistance;
Fourth, The market fails to hold bullish as evidenced by the long wicks. Moreover, This is a great indication that the market
is getting ready to reverse and a great selling opportunity
IMHO, Trading is hard enough without making avoidable mistakes. I hope this helps others
Allen
GBPJPY SS Short + 98 Pip PotentialPrice is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and Great RRR.
2 Potential entries (it is one or the other, not both)
Entry = 144.04 (pullback)
Stop = 144.24
Risk = 20 pips
Profit target = 143.06 ( The projected daily low )
Reward = 98 Pips
RRR = 4.9 -1
2nd Entry = 143.58
Stop = 143.88
Risk = 30 pips
Profit target = 143.06 ( The projected daily low )
Reward = 52
RRR = 1.7 -1
GBPAUD SS Short +130 Pip PotentialPrice is below the 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and Great RRR.
2 Potential entries (it is one or the other, not both)
Entry = 1.8643 (pullback)
Stop = 1.8663
Risk = 20 pips
Profit target = 1.8511 ( The projected daily low)
Reward = 130 Pips
RRR = 6.5 -1
2nd Entry = 1.8604
Stop = 1.8634
Risk = 30 pips
Profit target = 1.8511 ( The projected daily low )
Reward = 93
RRR = 3.1 -1
GBPAUD Post News Short + 100 Pip PotentialPrice came down after the Bank of Australia kept the Rate unchanged at 1.50 (although Forex Factory shows it as increase). Price has formed a consolidation box with a high of 1.86602. This is a Post News Type trade with a High probability and Great RRR.
Entry = 1.8659
Stop = 1.8679
Risk = 20 pips
Profit target = 1.8559
Reward = 100 Pips
RRR = 5-1
GBPAUD Long + 152 Pip PotentialPrice is above the Daily and 60 15 KS and in the cloud. This is a Type 2 trade with a High probability and a Great RRR. Moreover, the entry will be at the "close of the gap window"
Entry = 1.87265 (60 KS)
Stop = 1.86965
Risk = 30 pips
Profit target = 1.88816 (the prior high)
Reward = 155
RRR = 5-1
GBPAUD SS Short + 120 Pip PotentialPrice is currently only below the 15 KS. However, If the market closes below the 60 KS AFTER the 2:30 candle, price will then be below both the 60KS and the 15min Cloud creating a Type 1 trade. Type 1 trades have a High probability of success and good RRR.
Entry = Close below the 60 KS (blue line) 1.86079 AFTER the 2:30 am candle
Stop = ???
Risk = 30 pips
Profit target = 1.8490
Reward = approx 120 pips
RRR = 4-1
GBPUSD SS Short + 75 PIp Potential*Price is below the 60 and 15 KS. This will be a Type 1 trade if the market closes below the Daily KS at 1.30111. It has a High probability of success and good RRR.
2 Potential entries (it is one or the other, not both)
Entry = CLOSE below the Daliy KS at 1.30311
Stop = ???
Risk = 30 pips
Profit target = 1.2950
Reward = approx 75 Pips
RRR = ???
** remember Non-farm Payroll will be released at 8:30 am EST. which will directly effect this trade
you will want to be out of it by then.
GBPJPY SS Long + 60 Pip PotentialPrice is just below the Daily KS , but above 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
Entry = Close above cloud at 145.485
Stop = ??
Risk = 20 pips
Profit target = 146.20
Reward = ??
RRR = 3-1 or greater
NEED a close above the Daily KS at 145.485 for entry
GBPNZD SS Long + 80 Pip PotentialPrice is above the Daily, 60 and 15 KS as well as the cloud. This is a Post News trade with a High probability and good RRR.
2 Potential entries
1st Entry = 1.9592
Stop = 1.9572
Risk = 20 pips
Profit target = 1.9672
Reward = 80 Pips
RRR = 4-1
2nd Entry = 1.9630
Stop = 1.9610
Risk = 20 pips
Profit target = 1.9710
Reward = 80 Pips
RRR = 4-1
GBPAUD SS Short + 92 Pip PotentialPrice is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and good RRR.
2 Potential entries:
1st Entry = 1.8378 (top of box)
Stop = 1.8398
Risk = 20 pips
Profit target = 1.8286 ( The projected daily low )
Reward = 92 pips
RRR = 4.6 - 1
OR
2nd Entry = 1.8340
Stop = 1.8370
Risk = 30
Profit target = 1.8286 ( The projected daily low )
Reward = 56 pips
RRR = 1.86 - 1
GBPAUD SS Short + 105 pip PotentialPrice is below the Daily, 60 and 15 KS as well as the cloud. This is a Type 1 trade with a High probability and great RRR.
2 Potential entries:
1st Entry = 1.8413 (2 pips below the Daily KS)
Stop = 1.8433
Risk = 20 pips
Profit target = 1.8308( The projected daily low )
Reward = 105 pips
RRR = 5-1
2nd Entry = 1.8371 (8 pips below the Asian low)
Stop = 1.9401
Risk = 30 pips
Profit target = 1.8308 ( The projected daily low )
Reward = 63 pips
RRR = 2-1
GBPAUD Long example of how I tradeWhen looking for trades, my purpose is simple:
I look for High probability trades with good RRR (risk reward ratio)
I consider a trade high probability if it has an 80%, or better, historical success rate.
A good RRR (risk reward ratio) is 3-1 or better. meaning that we are risking $1 to make at least $3
Understand that by maintain a 3-1 RRR, even if I lose over 50% of the time, I will still make money. Combine that with High probability trades and your golden.
That said, there are not a lot of trade opportunities that met this criteria everyday. So I am not the guy who is going to post alot of trades, most days I only take 1 trade. I risk 2% per trade,( because I have earned that right which is a different conversation), to make 6%. Generally, I will net 15-20% per week.
I start with a strength and weakness anylasis from the prior day's trading and rank the currencies
numerically. for example today "S GBP 5" means that GBP was ranked 5th while "W AUD 7" Aud was ranked 7th
obviously GBP was stronger than Aud. So we start the day with a Buy bias. this is confirmed before I start trading, which is generally at the European open (currently 2am est).
I then look at multi-frame analysis using Ichimoku Kinko Hyo concepts. Primarily the Kejun-Sen (KS). I look at the Daily the 60 and the 15 min Tf's.
Ideally, price will be above/below the KS on all 3 tf's, but the Daily as in this example is not necessary. Moreover, we need price above/below the Ichimoku Cloud.
Next is the Asian box, if the market has consolidated during the Asian session, as it often does, I will mark the high and low, creating a box. In the example above, we have the 60 KS (blue line), which is above the cloud at 1.82119. that is the bottom of the box as it is a place that found support during the Asian session. The Daily Senkou B, in this case provides the top of the box. Generally, the Daily Senkou's A and B, provide solid resistance or support.
Putting it all together, in the above example, since price is above the 60 Ks, the 15 Ks and the cloud in the conformity with our directional bias, we have a Type 1 trade, which has an 87% success rate. these trades are Great!!!
We have 2 potential buy entry points:
1st is a pullback to the bottom of the box at he 60 KS
the 2nd is a breakout trade. However because in this example we are using the Daily Senkou B as the top of the box we need a close above it, not just penetration.
As you can see the 2:45 candle closes above the Senkou B and we can enter a long trade. Using a 20 pip stop and a 60 pip profit target. This hits perfectly (what a great example) but seriously you can look back at my other trade idea's and see similar results .
I hope this provides a general idea of what I am trying to do tradewise. feel free to hit me with any questions
AGold 54
Forex Watch EURO PAIR 20190423 by 9 Seasons Rainbow IndicatorEURO is a weak as a whole, especially to USD, CAD, JPY, and GBP.
Euro Pairs being monitored:
EURAUD , EURCAD , EURCHF , EURGBP , EURJPY , EURUSD
Time Frame:
1H - 2D
EURUSD: Bearish (Red) across most Time Frames
EURCAD: Bearish (Red) on most Time Frames, Green on 1H, 85m, and White on 22H - wandering
EURGBP: Keep on range, Bearish Divergence / Resistance on 170m (3H), Yellow
EURCHF: Bullish (Green) across all Time Frames
EURJPY: Strong Pull back (Red) into previous support area
EURADU: Got valid support: Bull (Green) is filled on all Time frames between 1H and 11H, Bullish Divergence / Support on 680m (11H), Blue
DISCLAIMER
This is only a personal opinion and does NOT serve as investing advice NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Forex 9 Seasons Rainbow Indicator Watch: USD Pairs 20190423USD is strong as a whole.
USDAUD: as mentioned in my last idea "Forex Divergence Watch: USD Pairs 20190419", Bullish Divergence (Blue) has turned out to Crazy Bought (Lime)
Crazy Bought(Lime) in 1H, 85m, Bullish Run in high volatility.
USDCAD: is breaking out the resistance.
USD Pairs being monitored:
USDAUD , USDCAD , USDCHF , USDGBP , USDJPY , USDEUR
Time Frame:
1H - 2D
DISCLAIMER
This is only a personal opinion and does NOT serve as investing advice NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
GBPAUD SS Long + 62 Pip potentialPrice is above the 60 and 15 KS as well as the cloud. This is a Type MA trade with a High probability and good RRR.
Entry = 1.8206
Stop = 1.8186
Risk = 20 pips
Profit target = 1.8268* ( The projected daily high )
Reward = 62 Pips
RRR = 3-1
* the Daily Senkou B is at 1.8238 and that can be expected to provide
resistance. Depending on how the pair gets there I will either close a portion
of my position or at the very least move my stop to flat
EOSUSD Day Trade Plan Apr 22 2019Bitfinex: EOSUSD
EN: 5.24 - 5.37 average: 5.305
SL: 5.491
Take Profit: 5.15, 5.1, 5.05, 5, 4.95, 4.9; Fib (0.5-0.382)
Expected Call Duration: 1 days to 4 days
Position Percentage: 20%
Leverage: 3.3
Risk Level: Medium
Call strength: Medium High
Indicator: 9 Seasons Rainbow Multiple Time Frames Pattern PRO
Signals:
Bearish (Red): 1H - 8H ribbans
Long Wick Bearish Hammer
Bitfinex: BTCUSD: Bearish Divergence, (Overbought / Resistance, Yellow) on Three ribbons > 2H and 15m, 22m
DISCLAIMER
This is only a personal opinion and does NOT serve as live trade call NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.
Watch Out for Possible BITCOIN PullbackBITCOIN is getting more and more dangerous for Bull. It may challenge the previous high, or even breakout into higher high. But the Marginal Revenue is decreasing for Long Trade.
So Bull gets to watch out for a possible Pullback.
It is still in Range, so it is up to the market.
Indicator:
9 Seasons Rainbow Multiple Time Frames Pattern PRO
RSI
Signals:
Bearish Divergence (Overbought /Resistance, Yellow) on 2H Time frame, which is strong short signal for Bitcoin, as discussed in my idea "Is Divergence the King or Queen of Crypto Technical Analysis"
Crazybought -> Overbought, Lime -> Yellow means the previous breakout is fading.
DISCLAIMER
This is only a personal opinion and does NOT serve as live trade call NOR trading advice.
Please make their own decisions, carefully assess risks and be responsible for your own investing and trading activities.