Trade of the Day

Red Line = Stop Loss

Black Line = Entry Point

2nd Red Line = Stop Profit

Blue Line = Take Profit

From the chart, although the SHI trend line indicates upwards, but from the other various signals from the indicators, wave pattern, sign of a divergence, and yesterday market pattern, I made a decision to enter short in eur/jpy. 

Update (22:00) : Trade hit stop profit, set kind of high, which I don't really think so (10 pips above pivot line). But well, I'm destined to miss the ride. Congratz to those who are still holding their short trades, enjoy it. 

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. 

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. 

Trade of the Day

Entered short in Eur/Jpy. 

Red Line = Stop loss

Black Line = Entry Point

All Green Line = Closed part of the trade

2nd Red Line = Stop Profit

Blue Line = Take Profit

From the chart, we can see the downwards wave formed, HH-HL-LH. The indicators are showing signs to short too, QQE below 50 and CCI is red. 

There was another signal on the chart too. From the arrow drawn on the Candlestick chart, we can see the price was sloping upwards since the day had started. But when we look at the indicators, both QQE and CCI are sloping downwards instead during that period. This means a negative divergence has formed. 

Stop loss was constantly reset (to stop profit) during the trade to secure my profit, in pre-caution that the price might reverse, for any reason. 

Update (23:02) : Closed half of the trade at price 135.00

Update (23:18) : Closed half of the trade again, at 134.59, near pivot level price

Update (01.16) : Stop Profit Hit

*I do not consider this as a counter-trend trade using the trend from last week as I'm trading on 15M timeframe. News might have affected the currency rates during the weekends. 

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

Trade of the Day

I entered Long on EUR/JPY at the price 128.40 

Black Line = Enter Price

Red Line = Stop Loss

From the chart, we can see higher-low formed, based on the Elloitte Wave pattern, and with reference to the 1-Hour SHI channel line, it shows as an upwards trend. 

Next looking at the indicators shown at the bottom of the chart, all indicators are supporting Long. QQE is rising above 50, and CCI has turned blue.  

Update: Stoploss Hit. Ends up as a lost trade