Forex price action trading

momoNY said:
Closed the trade at 1.2518 for 21x2 profit, I need this for my ego to feel better.
19 trades, Profit: 649 losses: 213 pips P/L: 436 pips
12 winners, 7 losers.
More...

Will short limit order at 1.2540 if it gets back there again stop 1.2578. That's it for the day, have a great week-end, all.
 
Managed to short 2 positions at 1.2544 stop 1.2578 target 1.245. That's it, will not touch a thing until next week, whatever the outcome is; my analysis tells me that we may go a little higher but not much, 1.255 could be the top on this leg.
upload_2014-11-14_14-33-57.png
 
Starting today I will set to myself a big challenge: for normalization purposes, I will try to double a $3000 account using $50000 lots and a maximum number of lots of 2, it can be a fraction. Obviously, I wouldn't play the same way a substantial account, I would require at least $10,000 for every 100,000 lot. My short trade is on, I will exit around 1.245 and go long if it gets there, if it reaches 1.26 I will short an hold for a longer period; this is my plan for the week ahead. If current trade fails, I will wait for confirmation to go short again.
Have a great week everyone!
 
Closed one position at 1.2499 for 45 pips profit, or P/L$225.
20 trades, Profit: 694 losses: 213 pips P/L: 481 pips
13 winners, 7 losers.
P/L: $225
 
Missed my target by 2pips! Out on the second position at 1.2459 for a profit of 85 pips ~ $425. Will look to enter long at 1.2440 stop 1.2390, target 1.2570.
21 trades, Profit: 779 losses: 213 pips P/L: 566 pips
14 winners, 7 losers.
Total challenge P/L: $650.
 
Long one position at 1.2449 stop 1.2390 and target 1.2560. Will add another if it gets down to 1.2420, we should get another little push down before going up.
 
Made a newbie mistake, the usual bad mistake after bad sleep, I moved my stop to lock in profits early in the morning before leaving for work to 1.25, for some reason only my broker knows it got to 1.25017 but still my stop was triggered! Out for a profit of 52 pips: $260; I will reenter if it gets down to 1.2525 to target 1.2560 stop at 1.25 (again!)
22 trades, Profit: 831 losses: 213 pips P/L: 618 pips
15 winners, 7 losers.
Total challenge P/L: $810.
 
Just got back from work. Went long 2 positions at 1.2515, stop 1.25 target 1.2565. We should get higher high day, but not exceed 1.2577; this leg will run its course around 1.2620, Thursday or Friday we may break the high an turn lower to go down like a rock to 1.21-22. I could be wrong, obviously! The end of the week will tell more. There is a huge reverse head and shoulder on a daily chart, that, in my opinion, will attract a lot of panicked buyers so that smart money unfolds its positions and sell, to resume the downtrend.
 
momoNY said:
Just got back from work. Went long 2 positions at 1.2515, stop 1.25 target 1.2565. We should get higher high day, but not exceed 1.2577; this leg will run its course around 1.2620, Thursday or Friday we may break the high an turn lower to go down like a rock to 1.21-22. I could be wrong, obviously! The end of the week will tell more. There is a huge reverse head and shoulder on a daily chart, that, in my opinion, will attract a lot of panicked buyers so that smart money unfolds its positions and sell, to resume the downtrend.
More...
Forgot to post the chart. Here it is. Preparing to go short at 1.2570, then 1.26 close to the trendline.
Edit: Changed stop to 1.2486 if it gets there, then we should go lower.
upload_2014-11-18_23-23-29.png
 
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