Trade Talks and Chart Setups

New Paper Trade Setup - 11082024

2024-08-11T19:25:00.000+04:00

NZD/USD

I have a below trade idea. There is a recovery in NZD & AUD post the crash late last month. I presume it to continue until next week post which there could be some more USD drama. I hope to get into this early morning tomorrow once market opens, as I have not been able to place the limit order yet. Will post an update if I do get a chance to enter.

Expected RRR - 2.01

UPDATE - New Trade Update - 190624

2024-06-20T19:45:00.003+04:00

USD/CAD

This worked out really well. It did have some resistance at the end, but eventually it did pass down the TP.

RR - 2.43

Runtime - 5 Hrs

New Trade Update - 190624

2024-06-19T22:02:00.000+04:00

USD/CAD

One of my fav pairs recently. Trying a short trade. Usually this close SL does not excite me to enter into a trade. However the setup is perfect for me. Hence trying out with a very low risk of $25.

UPDATE - New Trade Update ( 11/09/23)

2023-09-19T21:31:00.002+04:00

AUD/CAD

Such a clean entry and exit. I love when trades run as per the plan. Amazing !

RR: 3.52

Runtime - 4d15h

Next Week Setups - 18-09 / 22-09

2023-09-17T18:34:00.002+04:00

EUR/CAD

Last week, based on the 4h-15m strategy, I got into a small trade of EUR/CAD that made some profit. I had however not judged the complete potential of the trade and place a very convervative TP. Nevertheles, I see one opportunity to enter into a trade, hopefully this week.

As you can see the trade placement on the left is the one I took earlier last week.

RR - 3.17%

Runtime - 1D 14H

AUD/CHF

AUD has entered a mild correction on friday and I think it will continue for sometime. CHF on the otherhand, due to profit taking on the USD and RinkON sentiment being triggered somewhat since weak US numbers is getting stronger. I expect this pair to lower this week and continue its upward trajectory later on.

AUD/GBP

AUDGBP has a similar chart pattern to our earlier pair of interest. So keeping the same sentiment, I expect this pair to act in a similar way.

As always, will keep adding new charts as and when discovered,

Update - Next week setups - 11/09 - 15/09

2023-09-15T09:19:00.002+04:00

AUD/JPY

The pair that I was least confident about, did actually get triggered early Monday morning. Although the drawdown was a little much for my comfort, it played out really well.

Total - 84.7 pips

RR - 2.9

New Trade Update

2023-09-11T11:37:00.003+04:00

I have put a sell limit order for the below.

AUD/CAD

Next week setups - 11/09 - 15/09

2023-09-09T13:00:00.000+04:00

The below are a few of the setups that I have been waiting for since last week. I havent yet lost hope because the price hasnt done much frankly for me to look elsewhere. So I am going to wait for some more time untill it gives some clarity into what it really wants to do in life.

NZD/USD

AUD/USD

So, 'Aussie' and 'Kiwi' align their charts in a similar way against the USD. So when you find a setup in either one of them, look for a similar pattern in the other and you are most likely to find one. So I'm waiting in both the rooms.

AUD/JPY

This one is little low on my confidence level as I have had to adjust my entry point in order to have a better return. Nevertheless, it might actually help me to save an entire trade if it goes close the the SL level and returns back to TP.

I will keep adding to the list whenever I find a setup worth adding to my tradelist.

Note: The stats on the trade placements are just for the pricing level to be displyed. The qty is very random and as default settings on Tradingview.

As luck would have it !

2023-09-09T11:29:00.001+04:00

As luck would have it !

The below are a few trades that I took earlier this week.

First 2 trades are involving CAD. I had the setup ready since last week and I was hoping it would enter into my action zone. However it did take sometime after plotting it on the chart. Nevertheless they turned out amazing.

AUD/CAD

CAD/CHF

If you look closely, the AUDCAD trade just missed hitting the SL right after it triggered my Sell limit price. However, that was during the volatile session that usually happens before the London open at 12.30 PM IST/11.00 AM Dubai time. I got lucky to have remained in the trade as you can see later it went past my TP1. These lucky instanses are rare to happen but once they do you feel really happy.

However, as luck would have it, my TP price in the other pair (CAD/CHF) missed in a similar way and kept me in the trade while I looked at my profit erosion. As I said, you cannot have luck act for you twice in a day.

All in all I'm still in both the trades after booking 70% of lot size booked in profit. Below are the screenshots for profit booking and ongoing trades.

Current Position

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Profit Booking

USD/JPY

Next trade is one I took in USD/JPY. The current trend in USD/JPY is that of strong bullish. As is with all other JPY pairs. This is due to the BoJ stand on the currency. So my setup aligned with the overall trend and I put a Buy limit order just like I like to put it in advance and wait for the setup to reach my zone of trade and eventually enter my price to trigger the trade. So it happened just the same way.

We are still on the topic of luck by the way. If you look at this trade, it opened on a particular 15M candle and in the next 2 candles, I was at a profit of 1.53R. In well under 45 minutes. But I do not like to come out of a trade just because I'm having some good profit in such a short time. I like to stay in it and play out until either my TP or SL is hit. This gives you an advantage if you plan to be a profitable trader in longer term. So I stayed in the trade. This particular spike happened due to the USD bullishness post one of their payroll or employment data was released. However, it soon went into profit taking and I lost all the profit. Later there was some data to be released from Japan and that spiked the price to the opposite, albeit for 1 single candle of 15 mins. That eventually stretched too far and hit me out of the trade triggering my SL. Having said and not knowing about it as it was late in the night, the price stabled after that sudden reaction to data and continued to trade as per the original plan and in due course went on to hit my proposed TP levels. It was some ride of emotions during the whole trade time.

Stop Loss