Category Archives: Uncategorized

AUDUSD Bat Pattern & Gartley Pattern for Long & Short #Forex #Trading

AUDUSD Bat Pattern & Gartley Patterns for Long & Short

Snapshot:

AUDUSD Bat Gartley Patterns for Long Short Forex Trade
AUDUSD Bat Gartley Patterns for Long Short Forex Trade

Reasons For Trade:

  1. Bat Pattern for Long Trade entry
  2. Gartley Pattern and Bat Pattern for Short Trade Entries

Stop Placement:

  1. For Long Bat Pattern it has to be below the X point. We see that there is 7200 level too. So stop has to go below that. This increases ours overall risk in trade.
  2. For Gartley Pattern based short entry the stop has to be above X point however we have another structure high just before that. So we will include that too. We use ATR (at the moment it is 13 pips). So stop = high+atr. It is however better to take short entry based on Bat Pattern as it gives us better R/R ratio.

Targets:

  1. For Long Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.
  2. For Short Gartley Pattern first target is 38.2 retracement and second target can be start of the bat pattern
  3. For Short Bat Pattern , first target will be at 38.2 retracement and second target will be at 61.8 level.

Trade Execution:

  1. For Bat pattern we can be aggressive and front run orders before 0.7220 level.
  2. For Short Gartley Pattern wait for market confirmation using Double Top/Over Bought/Bollinger Bands/2618 type of entry technique.
  3. For Short Bat Pattern  we can be aggressive.

Concerns:

For Gatley pattern there is not much R/R ratio is not good for the first target. As SMAs are just below completion of gartley, price may just come back to retest them and go upwards.

Planned News/Events Expected:

TueOct 20 8:30am USD Building Permits

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

AUDCAD SHORT & LONG IDEA (BAT PATTERN, 50SMA) #FOREX

AUDCAD SHORT & LONG IDEA (BAT PATTERN, 50SMA) 

AUDUSD Short Long BAT Pattern Trade
AUDUSD Short Long BAT Pattern Trade

View It On TradingView

Reasons For Trade:

1. Price may try to retest 50sma/200sma cross over to give us a short opportunity.
2. Target will be to complete advanced pattern where we will have another opportunity to go long. Wait for confirmation there.

Stop Placement:

  1. Above 50 sma at least and previous high

Targets:

  1. First short target at the completion of Bat Pattern.
  2. Long Position will have 2 targets: First at 38.2 Fib retracement where stops will come to break even after closing 50% of position. Second target will be 61.8 Fib retracement which is close to retest of B point of Bat Pattern

Trade Execution:

  1. See above

Concerns:

  1. None

Planned News Expected: (UK Time)

TueOct 20  1:30am AUD Monetary Policy Meeting Minutes
WedOct 21 3:00pm CAD BOC Monetary Policy Report
CAD BOC Rate Statement
CAD Overnight Rate 0.50% 0.50%
4:15pm CAD BOC Press Conference

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

EURUSD SHORT #TRADE SMA RETEST FIBONACCI STRUCTURE #FOREX

EURUSD SHORT #TRADE SMA RETEST FIBONACCI STRUCTURE 

EURUSD SMA Short Trade
EURUSD SMA Short Trade

View It On TradingView

Reasons For Trade:

1. 10sma is lagging behind and EURUSD price has tested 200sma 2 times already. If the prices come back up to touch 10sma, we will have an opportunity to go short.
2. Price is currently in down trend and is not oversold yet.

Stop Placement:

  1. Above 50 sma at least and previous high

Targets:

  1. First Target at: 1:1 R/R i.e. 127.2 Fib extension. That is where 61.8 Fib retracement of impulse leg has confleunce.
  2. Second Target at 161.8 Fib extension. That is where 78.6 Fib retracement of impulse leg has confleunce.

Trade Execution:

  1. Wait for a confirmation inside the zone to take an entry as this is a wide zone.
  2. As soon as the target 1 hit, close 50% of positon, move stops 50% down as price may come back up to retest and fall down again.

Concerns:

  1. The price may try going over 50sma to touch a zone around 1.1442 area of EURUSD

Planned News Expected: (UK Time)

TueOct 20  1:30pm USD Building Permits

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

October 2015 Trading Review So Far

October 2015 has been very profitable so far. Here is trading review.

#USDJPY, #GBPJPY, #GBPAUD, #AUDUSD, #EURUSD, #EURCAD have been best profitable trades in October so far in forex trading. Below is the distribution of my trades.

October 2015 Forex Distribution

Average holding time has also decreased. Lesser time you spend in market to get the profits better it is to reduce your exposure at a point in time. Think of news events and Black Swan events such as recent EURCHF floor removal event.

October Average Forex Trade Holding Times

I will post full October review later that end of the month.

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

AUDUSD Bigger Bull Idea (50/200 SMA, Structure)

AUDUSD Bigger Bull Idea (50/200 SMA, Structure)

2015-10-13_AUDUSD Long Term
2015-10-13_AUDUSD Long Term

Better place for Long entry is at 1H chart:

2015-10-13_audusd better long trade entry zone
2015-10-13_audusd better long trade entry zone

Reasons For Trade:

1. 10sma is crossing 50sma in the yellow region. The price might test this zone to give us a bullish entry.
2. 200 sma is far up above. Once the price crosses the latest structure high at 0.7378, the next target will be retest of 127.2 fib level/200sma.
2. Daily and weekly chart are not showing any signs of oversold or overbought.

Stop Placement:

  1. Below 10sma-50sma crossover

Targets:

  1. First Target at: 1:1 R/R
  2. Second Target at 127.2 Fib extension of most recent high
  3. Third Target around 200sma

Trade Execution:

  1. Wait for a confirmation inside the zone to take an entry as this is a wide zone.
  2. As soon as target 1 is hit, close 50% of the position and move the stops to break even i.e. 0.7238
  3. Ride to second target and close 50% of the remaining position and move stops to 0.7330
  4. Re analyse the market to see if more profit can be made with 200sma as target and stops at 0.7428

Concerns:

  1. The price may never come to our zone to give us an entry.
  2. Trade Management will be complicated

Planned News Expected: (UK Time)

TueOct 13  1:30am AUD NAB Business Confidence
WedOct 14 1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)

#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)

#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)
#GBPJPY 2618 TRADE SHORT AND LONG IDEAS (BAT PATTERN FORMATION)

A. Reasons For Short Trade:

1. Double top formed with bearish divergence
2. Price may go upto retest 61.8 retracement and 200sma to give short opportunity

Stop Placement:

  1. Area above the previous High

Targets:

  1. Target will be at completion of bat pattern where 200sma is located

Trade Execution :

  1. Only one position for short

Concerns:

  1. None

B. Reasons For Long Trade:

1. Bat pattern completion
2. 200sma close to the zone

Stop Placement:

  1. Below the immediate support there is another support area. So we will have to include that too.

Targets:

  1. First target will be 38.2% retracement of AD leg
  2. Second target will be at 61.8 retracement of AD leg

Trade Execution :

  1. Aggressive entries to be taken

Concerns:

  1. None

Planned News Expected: (UK Time)

TueOct 13  9:30am GBP CPI y/y
WedOct 14 9:30am GBP Average Earnings Index 3m/y
GBP Claimant Count Change

 

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

USDJPY Sma, Structure & Fibonacci Idea

USDJPY Sma, Structure &Fibonacci Idea

USDJPY Sma, Structure & Fibonacci Idea
USDJPY Sma, Structure & Fibonacci Idea

A. Reasons For Long Trade:

1. Price has gone oversold and is showing bullish divergence on RSI
2.  It may try to retest the point where 50sma crossed 200sma.

Stop Placement:

  1. Area below the immediate low

Targets:

  1. region between 200sma and 50sma on 1H chart. Just below the opening of the candle.

Trade Execution :

  1. Only one position for long

Concerns:

  1. None

B. Reasons For Short Trade:

1. Once the price has tested sma crossover, it may start falling down to retest lower levels. Price has  moved below sma indicating bearish flow.

Stop Placement:

  1. Area above the major structure high

Targets:

  1. First target will be 50% retracement of previous upwards impulse leg. There is a huge spike there at 119.630
  2. Second target will be at Fibonacci confluence of 1.618 extension and 0.786 Fibonacci retracement. This is because once target 1 is met and price keeps on moving downwards, there is not much structure on the way downwards.

Trade Execution :

  1. Wait for short signal in the zone above 120.078

Concerns:

  1. None

Planned News Expected: (UK Time)

WedOct 14
1:30pm
USD
Core Retail Sales m/m

USD
PPI m/m

USD
Retail Sales m/m

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

#AUDUSD 4H Fibonacci Trade

AUDUSD 4H Fibonacci Trade
AUDUSD 4H Fibonacci Trade

Reasons For Trade:

1. Close Fibonacci Confluence of 0.886XA leg with 1.272 AB leg
2.  RSI has been overbought i.e. above 80

Stop Placement:

  1. Above the are of resistance

Targets:

  1. 23.6 Fib Retracement of AD Leg will be the first target as this is currently respecting 23.6 instead of 38.2
  2. 50.0 Fib Retracement of AD Leg will be the second target as this is currently respecting 23.6 instead of 38.2

Trade Execution:

  1. Let the price reach the PRZ and look for Double Top or Bearish Divergence or an Advanced Harmonic Pattern completion in the zone on a lower time frame i..e. 1H or 15M chart.
  2. As soon as Target 1 is hit, move the stop to break even and close half of the position.

Concerns:

  1. Stop Placement. The Supply/Demand theory suggests stops where they are. However advanced harmonics dictates stops to go above previous structure.

Planned News Expected: (UK Time)

TueOct 13  1:30am AUD NAB Business Confidence
WedOct 14 1:30pm USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

#AUDCAD 4H Fibonacci, Gartley Short Idea

#AUDCAD 4H Fibonacci, Gartley Pattern Short Idea

AUDCAD 4H Fibonacci Short Idea
AUDCAD 4H Fibonacci Short Idea

Reasons For Trade:

1. Close Fibonacci Confluence of 0.786XA leg with 1.272 AB leg
2. Gartley Pattern
3.  RSI has been overbought i.e. above 80

Stop Placement:

  1. Above the are of resistance

Targets:

  1. 23.6 Fib Retracement of AD Leg will be the first target as this is currently respecting 23.6 instead of 38.2
  2. 50.0 Fib Retracement of AD Leg will be the second target as this is currently respecting 23.6 instead of 38.2

Trade Execution:

  1. Let the price reach the PRZ and look for Double Top or Bearish Divergence or an Advanced Harmonic Pattern completion in the zone on a lower time frame i..e. 1H or 15M chart.
  2. As soon as Target 1 is hit, move the stop to break even and close half of the position.

Concerns:

  1. Stop Placement. The Supply/Demand theory suggests stops where they are. However advanced harmonics dictates stops to go above previous structure.

Planned News Expected: (UK Time)

MonOct 12  6:20pm CAD BOC Gov Poloz Speaks
TueOct 13 1:30am AUD NAB Business Confidence

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------

EURUSD 4H Bat Pattern Trade

EURUSD SHORT IDEA (BAT PATTERN) – 12-Oct-2015

EURUSD 4H Bat Pattern Trade

Reasons For Trade:

1. Bat Pattern
2. Close Fibonacci Confluence of 0.886XA leg with 1.618 AB leg
3.  RSI has been overbought i.e. above 80

Stop Placement:

  1. 1.113 or 1 ATR (37 Pips) above Structure High i.e. Point X of Bat Pattern

Targets:

  1. 38.2 Fib Retracement of AD Leg will be the first target
  2. 61.8 Fib Retracement of AD Leg will be the second target

Trade Execution:

  1. Let the price reach the PRZ and look for Double Top or Bearish Divergence or an Advanced Harmonic Pattern completion in the zone on a lower time frame i..e. 1H or 15M chart.
  2. As soon as Target 1 is hit, move the stop to break even and close half of the position.

Concerns:

  1. Overall trend seems to be bullish at the moment. So this will be a counter trend trade. Second Target may not be achieved.

Planned News Expected: (UK Time)

None

Post Execution Review:

Pending

---------------------------------------------------------------------------------
Leave a comment: I would love to hear your thoughts, suggestions on this topic. Please leave a comment.
---------------------------------------------------------------------------------
Disclaimer: This web site is just my financial trading log and is for educational purposes.
Please do your research, analysis and take your decisions. You must not rely on my actions or analysis.
Please see the Disclaimer page.
---------------------------------------------------------------------------------