30 jun 2011

3rd trade

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This one, was another 0,1,2,3 Pattern.

Daily was confirming because we have made a Higher High, So I like it.

2 timeframes working together. :)

2nd Trade. GBP-USD revenge trade

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My 2nd trade, was near a revenge trade, but was still a better trade than the 1st, It was GU (better spread), and a better pattern, but still not good enough, for the bars that were comming and the SSI signal, this one worked a little better and was +10 pips in profit.

Also the pair made the type of trade that is to rally 100 points + in the same day and rebound for s structure point, in this case worked but I didnt took it. Maybe I could accumulate a little because the pair showed signs of accumulation.

1 Trade Total failure :)

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It has been a 0,1,2,3 pattern trade on GBP/JPY m30. Not like a lot of things about the pattern, anyway I trade it.

First the H1 view give us some bad news, A downtrend line that was contrarian to our buy and it worked, The strange thing happening between the Bid and Ask and, and the near touch of the trendline that happened yesterday, just take a look:



If we take a look to M30, we can see the Volume that appears as the price aproach the trendline not favour the trendline support:



Also I could find a better trade to the downside with the help of an structure, and the downtrend.

Things I have learned:

- Put SSI into my plan, pick the extremes between AUD,EUR,GBP. Not trade against the extremes.

- Beware of the Spread of some pairs, not trade it unless the SL= 10*Spread.

Total = -3,5%