Trade of the Day

Entered EU Long. Trade closed, it is a counter-trend trade. 

Trade of the Day

Red Line = Stop Loss

Black Line = Entry Point

2nd Red Line = Stop Profit

Green Line = Trade Closed

From the chart, all indicators shown signs to enter a short trade. Furthermore, looking at the black arrows drawn, we can see a divergence formed. It seems as though the bull trend had hit its limit, after the run from the past 2 days. 

Update (17:43) : The trend had turned bullish suddenly, it almost hit my stop loss!! What a close call, the news event at 17:30 knocked the bull out. Will the trend continue to be bearish?? Or the bull shall stand once again??

Update (20:40) : Closed half of my trade. 

Update (22:15) : Hit stop profit. 

Trade of the Day

Entered Long in EJ. This is a counter-trend trade, as yesterday market was bearish. 

Update (19:11) : Hit break-even.

Learning Point: My take profit level had set too high for this trade; TP at yesterday high for a counter-trend trade. Should have closed part of my trade at pivot level, or when QQE turns to red. 

Trade of the Day

Entered Long in Eur/Usd. 

This is a risk trade, as it is a counter-trend trade. My stoploss would be set tight, and constant monitoring on the market is required. 

Updaate (19:11) : Break-even hit.

Counter-Trend Trade of the Day

Red Line = Stop Loss

Black Line = Entry Point

2nd Red Line = Stop Profit

Green Lines = Closing of Trade 

I consider this trade as a counter-trend trade, as the general trend for yesterday market was bullish, and SHI was showing upwards at the time of entry. (Not shown in this chart)

This trade entered was kind of impulsive, as 1 of the indicators, the CCI did not show signal to short (Look at the black square drawn). However I decided to make the entry based on the other signals, the wave pattern, and QQE. 

But most importantly, there was a negative divergence (Look at the black arrows drawn) seen on the chart before the Tokyo market opens. These signals give me an idea that the market trend throughout the day is likely to be bullish, thus the entry I made after a red candle formed below the EMA bands. 

Update (20:54) : Closed half of the trade at 131.50

Update (00:18) : Maunally closed the trade at 131.62, London market had closed an hour ago, and time to rest for the day. 

Counter-Trend Trade

Entered Long on Eur/Usd. This is a Couter-trend Trade.

Blue Line = Take Profit

Black Line = Entry Point

Red Line = Stop Loss

Setup is shown, there's the wave, LL-H-HL, QQE above 50, CCI turns from red to blue. 

There's also a sign of positive divergence, look at the arrows drawn, whereby the price is sloping downwards, but the indicators are sloping upwards instead. 

Update: Closed my trade at the Green Line drawn on the chart to secure my profit, as price seems to be heading back downwards, and NY market is about to open.

Counter-Trend Trade

Blue line = Take Profit

Black line = Entry Point

Red line = Stop Loss

From the chart, we can see an uptrend wave pattern formed with LL-LH-HL-HH, and right after the HH point, the next low happened to be at the price of the previous HL point. From that, I can assume there is a fairly strong support level at that price, thus stoploss had been set few pips below that support level.

However, this was a counter-trend entry. The general trend was bearish today, and I am going Long. Therefore I only entered the market after a support level was formed, for assurance that it is not going to head back downwards easily. 

The take profit level which I had set is very close to the previous high wave point. This is mainly due to the facts that 

1) The trade is a counter-trend trade,

2) S1 level will be acting as a resistance level, and

3) London market will be closing in an hour time. 

Update: Take Profit Hit