MyFXTrades

[xerof228]

Hi Everyone,

I really miss the 20pip club where we used to post our intra-day trades. So I thought I'd start a thread to post my intra-day trades. Please feel free to comment or ask any questions. Hopefully, this way we'll learn something from each other.

Let me start off by sharing one that I did during trading club yesterday night. I drew a fib retracement on a down move of the EURUSD 5-minute chart. Unfortunately, I was a bit late and was not able to get in at the bounce off the 61.8% level. So I decided to enter half my position first (See attached picture, first entry). Once the price moved back up to the 61.8% level again, I decided to enter my second position.

Unfortunately, the price movement lacked momentum, So I decided to set my profit target at the 100% level. Total for this trade 15pips.

Please feel free to comment and/or ask any questions.
EURUSD 20100309 M5.png
Cheers.
KS

[xerof228]

Oh! I almost forgot.... Please also feel free to share some of your trades in this thread too... Thanks in advance...

Cheers,
KS

[TonyLim]

Have seen the chart, able to understand the 1st entry price but don't really catch why the 2nd entry price. Any indicators showing market is turning (as can see you short when the market is up trending)? Thanks for sharing.

[xerof228]

Hi Tony,

Long time no see bro.... Back from your trip, I hope.

Well, about the second entry... I was watching the price movements as it pulled back to the 61.8% level.



You notice the big white candle circled in white? It was big bullish candle, so you would expect that the next few candles should continue with momentum and move strongly upwards. But as you can see the next few candles (circled in green) were small and showed no strength. So when the price approached the 61.8% level again, I watched carefully and felt that it was a low risk entry to short again with the 61.8% as the resistance behind the trade. I also was watching the US futures at the time and they were bearish, so that's why I felt that the probability of it bouncing off the 61.8% level was high.

However, this trade was taken some time before the US stock market opened, hence the price action was weak, so I decided to set a smaller target profit.

Hey, thanks for your input and nice to see you again.

Cheers,
KS

[xerof228]

Haha! Actually after looking back on this trade, I'm now feeling that the first entry was quite bad. As you can see, I missed the bounce, and was late by at least one candle. Thankfully, I did not use my normal full position on my first entry, also, thankfully, the market gave me a second chance at a better price to short again. Hahaha!

Cheers,
KS

[xerof228]

I'm watching the potential triple bottom on USDCAD on the daily charts. Potential long trade here....

USDCAD 20100310 D1 Pending.png

Cheers,
KS.

PS: The above is just my opinion and should not be taken as an advice to trade. Please do your own analysis before taking any trade.

[xerof228]

Just saw this one... Thought I'd share. Pending long on USDJPY 3-hour chart, breakout from a Ascending Triangle.

USDJPY 20100312 H3 Pending.png

Cheers,
KS

PS: The above is just my opinion and should not be taken as advice to trade. Please do your own analysis before trading.

[Shufang]

hello KS ... thanks for all your sharing !!
i know quite a few people in the afternoon trading club taking this USD/CAD too! =D

I'm watching the potential triple bottom on USDCAD on the daily charts. Potential long trade here....

Attachment 233

Cheers,
KS.

PS: The above is just my opinion and should not be taken as an advice to trade. Please do your own analysis before taking any trade.

[Shufang]

This technical set up is beautiful.

to add on, trading on a 3 hr time frame, is also subjected to the news releases and market opening times. the mood can change in an instant kind.

for the past 1 month since CNY, the 3 hour market has been pretty illogical. and the theme changes mid-week.

if really want to trade, can do like what KS did, put in a safe zone ... ie a zone where if it really breaks through, it will be a pretty strong move. on the day chart, it's moving towards the 200 day MA.

let's hope the 3 hour market opens up next week ... just like hoping the weather will get cooler :s

Just saw this one... Thought I'd share. Pending long on USDJPY 3-hour chart, breakout from a Ascending Triangle.

Attachment 234

Cheers,
KS

PS: The above is just my opinion and should not be taken as advice to trade. Please do your own analysis before trading.

[Shufang]

by the way, have anyone traded EUR/AUD before?

I just added this pair to my usual 11, it seems so beautiful on the day chart. started its down trend since july last year. adding it into my watchlist!