Eurgbp Closed:+25 Pips
EURGBP SHORT @ 0.7996 has been closed @ 0.7971 for a +25 pips profit.
REASON FOR CLOSING:FAILURE TO TEST previous low @ 0.7962 +stlm2 m5 indicating a potential short term trend change.
USDJPY trade still open,if not stopped out will probably close it within the next 6 hours.
Will post a detailed statement later.
I was watching your trades today. Very nice execution. I would've probably closed the usd/jpy trade right after the time you closed your other two trades. "Dead cat bounce" LOL, funny name, good pattern though. I think the reason why the USD/JPY trade did not not go well was the selling pressure on the USD across the board all day long. Nonetheless it held up against the yen pretty well.
Enjoying this thread a lot:-) Thanks again!!!!
P.S. Did you notice that the g/j trade found resistance right around 61.8 fibo expansion?
The book says that the "dead cat bounce" has a high failure rate, but I think it makes a lot of sense and it might be especially useful after news anouncements, as it is common for the price to drop(for ex.) retrace and continue dropping--seen it so many times after NFP. We'll see.
Thanks for pointing out the diamond on usd/jpy M30, never noticed it.
Probably NOT a Dragon ,second leg length is more than 127% of the first..though,with a 2B who wants Dragons?..2B or not 2B..that is the trade
All trades closed,Usdjpy closed practically at cost,a few minutes ago, with 9 pips profit,please see attached detailed statement.
I just ordered that book looking for something new to learn , thx for sharing
Skyline...congratulations,hope you enjoy it and that you can contribute to the debate and the thread like jbfx and mpower are doing ..and hopefully other members will do too ...sooner or later
P.S:Non dimenticare di fare tutti i test necessari per sapere quali sono i pattern che vanno meglio al tuo stile di trading ..ciao
Oh, we don't need a thread about me and my trading prowess. You are too kind.
It wouldn't be as interesting as this one anyways, so many pictures.
Although I may need to stroke my own ego in the future, so I reserve the right to start a thread that is inspired by your greatness, Simba.
Make it pretty, S.
Yes,I agree 100% on all counts ...J.
Glad you like the pictures
Grazie tante Simba