All in the set-up... I got in and out of this trade with no fuss. P.s. I got out of NZDCAD at -.50%
This trade set-up was perfect and led to effortless execution. It was everything that you want to see in this type of play. The pivot, 50EMA, 200EMA, 38.2 Fib, 4hr 50ema all provided support for price action at entry. The profit target was a simple sprint to Daily 50EMA.
USDJPY - 2.3% USDCHF - 1.88% NZDCAD - ? NZDJPY - ? EURUSD - ? EURCHF - ? EURCAD - ?
A race to entry, I'll keep the first 3 that reach limit order entry (or those that are left once I decided the best of the best out the bunch). Choosing the best of the best is an art, today I feel like each is justified so I'll allow each of these to be heavily considered at this time. USDJPY USDCHF NZDCAD EURUSD EURCHF EURCAD CADCHF
Nothing that stood at AUDUSD and AUDJPY made the watchlist for the week but I don't plan on trading them.
Trending pretty nicely but no "easy" entries. Will watch and consider getting in (CADCHF) on a 61.8 Fib play.
Beautiful patterns on this pair, getting the entry I want is going to be a matter of chart time and patience. Really not as suited for a "trap" entry but still has potential for some pretty effortless trades.
Probably the cleanest set-ups for the week with longer-term potential. Watching EURUSD, EURCHF, and EURCAD really closely.
Lots of movement, not very clear on trend or possible entry for me. I'm sitting out on these pairs as a whole. GBPAUD is interesting and I'll be watching it to form a pattern that I might be able to trade soonish.
Not much to take action on, wait and watch for a possible entry on the the NZDCAD imo.
Looking for quick 1:1 trades this week from USD base pairs. I think there are opportunities for this but don't see anything long-term that I want to trade at this point.
This position corrected course then had a gap up that should have signaled an exit. I chose to hold on (bad decision almost every time) and I paid the price for that.
Signals to go ahead and close this trade. I'm trying to be patient and make something out of this trade. I'm moments away from just throwing in the towel and taking my time and attention to another pair at this stage.
Here's a H4 chart for USDCAD that captures where we are and what I'm planning for this trade. However, the best plan for a trade like this is the ability to adjust on the fly. We'll be testing my ability to do just that as I aim for 1 of 2 options. Breakeven or profit greatly (double digit % return).
Big bearish move has us at the bottom of a Key Level range but not quite breaking it. I'm going to need to wait and watch this one for a bit longer as we consider closing this down due to it stagnating, or actually leaving it alone as it creeps toward profit target. Either way, price action is shaping up to not behave in step with the strategy. That means it...
We did it again, frictionless autopilot trade on USDCHF. This one was outside of the PRS framework but we still used the principles that hold true to get in and out of this trade with no maintenance of the position at all. I love this, I'm slowly learning to make most of my trades enter and exit in this manner.
Hit profit goal last night around 1am. Of course it kept running and we could have made a huge profit. But, the goal is to catch the wave consistently not squeeze every ounce out of every trade.
The move happened, we just weren't on the wave.