Weekly Thread: Sep. 14 - 19

Quote from rezo_s:


Hi there.
Yes, you're right, I was asked couple times about this, and I don't know where it is now to link you, but I will not leave you without answer. My stop is being calculated using simple algorithm, and main component is recent volatility. I also tale in consideration fib level, supp/res levels, and depending on those, calculated stop level may be moved slightly higher/lower. There are couple more things I consider...I hope you can understand that I cannot get into details on this...but that's how its done.

Regards,

Rezo
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Yes, I do understand. I am following along and taking notes quietly here. Being new to the Forex trading, I am in my own little learning curve. Thanks for taking the time to post as well as respond. It is appreciated. :)
 
Cable is moving quiet seriously, but I already mentioned about the h&s possibility on weekly charts. It shouldnt prevent from further taking of long positions, but its a warning to act very carfully in case entering future longs.
 

Attachments

Open positions:

Sep.18 short usdchf @1.3848
tp1.3535

Sep.16 long eurusd@ 1.1173

tp@1.1405

Stops at entry level at the moment on both.

My first targets (from last week) on these trades were reached (1.1370 and 1.3660), but as you know I revised target on euro this week (posted about it earlier), and changed target on usdchf after reentering yesterday. Now we got little stalling on these levels reached, but those are not serious levels after that much consolidation during this week and several attempts of breakthrough which finally occured and we are witnessing now; so I think targets should be left in place, except for maybe before week closing I will consider whether to move stops to lock some profits (most probably I will put stop on euro @1.1250 and on swissy @1.3700).

Regards,

Rezo.
 
Ok, week closed, stops over the weekend adjusted as follows:

euro stop@1.1300 (lock 127 pips for profit)
swissy stop @1.3770 (lock 78 pips)

Have a great weekend everyone.

Rezo.
 
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