I am testing a new idea, so for limited time, I am posting key levels of some major pairs that I am trading frequently. These are basically support and resistance levels. If any of my 12 readers finds these to be useful, shoot me a comment, we’ll see what we can do with these.
I am trading mainly off 4-hour chart, so only 4-hr charts are posted here.
[tab: EURUSD]
[tab: GBPUSD]
[tab: AUDUSD]
[tab: NZDUSD]
[tab: USDCHF]
[tab: USDJPY]
[tab: GBPJPY]
Let’s have a look at the beast, $GBPJPY. I see some confluences of Fib levels, resistance levels and harmonic pattern formation. I am interested in getting in some shorts around 131.80 level or slightly above this level. Let’s see..
[tab: Setup]
Here is the…. CHART!
[tab: Trade update]
No update at the moment, come back later.
[tab:END]
Over the past 2 trading days, there are some interesting developments in GBPJPY. It seems to be holding well at resistance level, and who knows, it might be ready to break away from it. This is what I see now. What do you think? (click the image to view chart)
Oi! Enough? Are you done?
That’s what I see from the chart of GBPJPY. In fact, this pair was not in my radar. Thanks to the tweet from Casey Stubbs. So, what do you think now?
Here are some technical statistic:
I am still actively trading. The main project I am working on now is enhancing my trading and risk plan, increase R size, increase my account size, changing broker and platform. The basic idea is not to tweak my current strategy since it has been serving me well, so, I do not wish to tweak what is working now. Instead, I am increasing risk per trade, in other word, a bigger R. I’d continue monitoring the performance and adjust my risk profile accordingly.
I’ve been pondering to increase my account size, one of the requirement for this would be changing broker, to one which offers better execution, stability, and reputation. Anyway, that has been decided, I am not going to start another post of broker discussion. I’ve been practising on the paper trading account to get familiar with the platform, and I am ready to go soon. These are the main things that I am working on, nothing really new, just part of business process,and that explains why the lack of posting recently.
I thought I would give a quick summary of my trading. Firstly, I would say, Non Farm Payroll and FOMC had really messed up my charts. My EURGBP long position was takenn out at breakeven, hours after NFP announcement. Well, and you know, the pair went back up after that. What can I do? It happens, sometimes. I decided to hold on my short position of GBPJPY, though at times, it looked like a dead body. Since stop were in place, I didn’t want to second guess it. The position achieved the first profit target and closed right before FOMC statement released. That was around 400 pips. Those were no easy pips, good training of sticking-to-plan discipline.
I am sitting on cash now. It is just a mess everywhere on the charts.
I am active on Twitter. So, follow me if you’re interested in my not so frequent market calls and rants.
I have not been posting too much recently, partly because I am kinda under the weather for the past few days. It is not fun to fall sick during winter. However, I am still active in Twitter.
Anyway, here is the the potential short setup I am watching right now. GBPJPY looks exhausted to me.
Here is the ………..CHART!
