NZD/USD loss and short re-entry

NZD/USD D1 chart

Just like what I thought, my stoploss got hit and then after 6 pips it decided to go downward again. Because of that I loss -75.3 pips.

I'm still bearish in this pair since the weekly chart here shows that the price is still going downward. I've put the stoploss above the highest price of today's trading.

NZD/USD update

W1 chart

D1 chart

The price hit my short entry then went up again. I still think this is going downward as shown on the W1 chart. Hoping that my stoploss won't hit first before price decides to continue going down.

USD/JPY loss and wait for signal to buy or sell

USD/JPY D1 chart

My trailing stoploss was hit giving me a -23.3 pips loss.

I still think this pair is going down as long as RSI does not cross over the 50 level. Stochastic and MACD indicators are still bearish.

My next move here would be to wait for more confirmation of the trend.

USD/JPY profit and follow up

USD/JPY D1 chart

I've decided to take the 51 pips just to make sure to have a profit. But since the trend is still bearish, a new sell trade was set right after I closed my initial trade.

The Stochastic, MACD and RSI indicators are showing that the trend is still bearish. I will be more happy if ADX will start to show a rising line.

My next target to take profit is somewhere above the 96.0 level.

USD/JPY hanging on the trend line

USD/JPY D1 chart

The price had tested the strength of the trend line for a couple of times and is testing it again. A breakout could mean of a burst of price going up but we need to be careful for fakeout.

Looking at the Stochastic indicator, the price is about to go down.

I will try to have both long and short entries here. Hoping that it won't hit both when the trend is decided.

NZD/USD showing a bullish divergence?

NZD/USD D1 chart

The price is showing higher lows and 2 of the indicators, except for the RSI, are showing a lower lows. ADX even give a bend line indicating a trend reversal.

I would like to give this a try to put a buy entry somewhere at 0.786-0.788 price. If the price fails to break this level, it could make the price to break the rising channel and continue downward.

NZD/USD small profit

NZD/USD

D1 chart

H4 chart

D1 chart looks like the trend is about to reverse at the bottom of the channel even though the indicators are still showing that there is still some more downward movement.

H4 chart's ADX line is showing a bend and that is a signal that the trend is about to reverse.

My next move for this pair will be to wait for a confirmation if it will go up or continue downward.

I just managed to profit 4.3 pips because of my trailing stoploss.

NZD/USD profit and re-entry set-up

NZD/USD D1 chart

My target was hit giving me 139.8 pips profit.

From the looks of the indicators, the price still got some strength to go down. Stochastic is about to reach the 50 level. MACD lines crossover giving sell signal. RSI already under 50 level and about to reach the oversold area. But I would still like to see the ADX line to confirm a trend is ongoing by making a bend pointing upward.

My new entry is somewhere at 0.788-0.786 and my new target will be near 0.769 and will still have a trailing stoploss just in-case the price decides to turn the other way around.

NZD/USD update

NZD/USD D1 chart

Currently seeing lowest price, as of this writing, to be more or less 20 pips above a support line. Just for securing some profit, I move my trailing stoploss to be -40 pip from current price. Hoping fro tomorrow to break that line and continue downward.

Looking at the indicators, it seems like the price still have a lot of downward movement to go. If price hit my initial target, I will place another short entry.

NZD/USD bearish divergence?

NZD/USD D1 chart

I still need to wait for the closing price of today's market to confirm if this is going to be a bearish divergence.

To confirm if this is a bearish divergence, today's closing price should be higher than most recent significant high price which is on 26th of July. For the indicators stochastic, MACD and RSI, they need to have a lower high than the high 26th of July.

My entry will be below the lowest price of yesterday's bar.

AUD/USD profit

AUD/USD H4 chart

I decided to close my trade just to make sure that I will have a profit. It went more than 50 pips but it is trying to pull back and might be looking for support for more upward trend.

If this pair break the 0.9220 level, I will try to look again a good long entry.

Profit: 50.8 pips

EUR/USD profit

I was not able to take a screen shot of my profit for this pair and the history of my trade was already erased. But I am sure I was able to profit less than 50 pips. I was able to move my stoploss just to make sure I will be profiting even a small amount.

Just for the record, I will consider a profit of 50 pips.

EUR/USD update

EUR/USD D1 chart

The price of today is making an inside bar. But as long as the price ends lower than yesterday, I think the price will still go down.

GBP/USD loss

GBP/USD D1 chart

Loss of -71.7

The good data from today's news had greatly affected the traders of this pair. I had my trailing stoploss set which lessen my loss on this pair.

GBP/USD Three Inside Down Formation

GBP/USD D1 chart

Same with what I saw in EUR/USD pair here, this is forming also a three inside down formation. But unlike with the EUR/USD pair, ADX did not show any sign of a coming trend. Stochastic and MACD histogram is showing a bearish divergence. But even though the RSI is not showing any bearish divergence, the direction of the line is pointing towards the 50 level which can be considered as the trend to be going downward.

My plan is to put a short entry below the current lowest price as of this writing. My target would be somewhere above the lower line of the upward channel.

EUR/USD Three Inside Down formation

EUR/USD D1 chart

I think this forming a "three inside bar" pattern to confirm the start of a bearish trend. My plan is to put a short entry below the low of today's bar. ADX confirmed that the bullish trend ended and all the other three indicators are showing that a bearish trend is about to start.

EUR/USD bearish trend confirmation?

EUR/USD H4 chart

Following my trading analysis of this pair yesterday, here is a good confirmation for me to put up an entry to short this pair. Price making lower high and indicators showing higher high. Plus the ADX is starting to show a confirmation of a trend.

GBP/USD and GBP/CHF loss

GBP/USD D1 chart

This was my short entry right after the US NFP announcement on Friday last week. I just let the price hit my SL.

I was playing with a smaller TF by using the Stochastic indicator as my entry signal. When the K was near the 50 level, I put up a short entry. The trend went as I expected, but it came short to my target profit of 20 pips. Measuring the dip it was just 15 pips away from my entry.

Next time when I try to trade a short TF, I should monitor the progress until it show a signal of reversal.

EUR/USD going short?

EUR/USD D1 chart

Looking at the chart and considering the ADX, this pair is now going downward. Stochastic line is not in the overbought area which can be a signal to enter a short here. MACD line has not yet crossed over the signal line but this might happen on the middle of the trend. RSI showing a bounced due to the US NFP news.

My trading plan would be looking at the lower TF, most probably at H1 chart, and set an entry.

Awful Profit for this week

Why is it awful even though it is a profit? Because earlier this morning my total pips reach around 470+ profit. But because of this weak US NFP report that cause the surge in all affected currency, I was worried that all my stoploss will be hit and I will be left with all negative pips. I closed all my trades but wasn't able to find the "close all trades" option that is why I ended up with only 97.8 pips profit.

Unfortunately, after that event, every thing is back to normal. Well, almost all the price is near where spike on price started. I did waste all my hard earned profits from 2-3 days ago.

This will be a lesson for me not to be much affected of news since most of my trades are based on higher time frames. It will just be a spike on the chart that will come and go and then the price will move to the original route.

At the end of surge on the pairs that I'm trading on, I was able to put entries near where the top or bottom of each price. And since it is Friday and the market will be closed after a few more hours, I will just look at the chart next week if I can still be able to add more entries and regain or outperform my supposed-to-be profit this week.

USD/CAD update

USD/CAD D1 chart

Looks to me that this pair is building up strength to go upward because of the higher high pattern of price.

Stochastic K just out of the oversold area pointing upward. MACD histogram is showing weakness of selling volume and macd line and signal is about to crossover. RSI line bouncing off going upwards and is about to cross the 50 level. ADX is still a long way to confirm the trend.

GBP/USD update

GBP/USD D1 chart

Time to add more short entry. Every thing is still going as I planed.

Stochastic K just surpassed the 50 level and it is a good confirmation of a trend. MACD just crossed the 0 level and crossed over the signal line signaling of a bearish trend with the confirmation of histogram showing sell volume. RSI just above the 30 level and a good sign of bearish trend. ADX still don't show any trend.

AUD/USD update

AUD/USD D1 chart

Stochastic K line just entered the oversold area but no sign of any pull-back, still bearish. MACD line crossing over the signal line and looks like pointing downwards and the volume of sell in histogram is a sign of bearish trend. RSI line is just on the boundary towards the oversold area, still bearish. ADX line confirms that there is an ongoing trend which is bearish.

July 2013 trading summary

I failed again on remembering to make a screenshot of all my profits and losses from my trading platform. Hopefully this month my brain won't fail me.

Here is the summary of my profits and losses for the month of July 2013

+ 189.4
- 20.2
- 64.6
- 206.2 (my interpretation of head and shoulders)
+ 119.7
- 130.2 (my interpretation of pennant)
+ 9.2
+ 0.6
+ 5
+ 66.2
- 53.4

= - 84.5 LOSS!!!

Winning rate is 6:5

Looking at my performance for the month of July, this shouldn't have been a losing month if only I didn't try trading the head and shoulders and pennant. I can see that most of my loss are nothing if I ignored that 2 trading set-ups. I guess I need to practice more on those set-ups probably in a demo account. Another thing I noticed on my trading for this month is that I lack confidence in most of the trades that I entered. I'm an aggressive type of trader who will try to add more entry (looking at lower timeframes for entry) if I'm confident on the price movement of the pair that I'm trading on.