Stopped out on three trades

Got stopped out on three trades today.

EURGBP H4 (07-14-2016 2206) NZDUSD H8 (07-14-2016 2206) XAUUSD H8 (07-14-2016 2206)

Buy limit on EURGBP

Getting ready with a buy limit on EURGBP just below current prices. I cannot enter at market prices because my risk would be too high, therefore I am waiting for a retracement entry. Stop below previous low, take profit will be a 1.5036 for 1:3 ratio. Risk at 1% of my account as always.

EURGBP H8 (07-14-2016 0648)

Entered on Gold and EURAUD

Took two long trades on Gold and EURAUD, price action shows bullish rejection of a major weekly level for EURAUD, giving us an excellent potential gain and an awesome R:R ratio of over 3 times our risk. On Gold the overall momentum is bullish on the long run, there has just been a pause in the uptrend and price action suggests it could resume. Stop at 1386.58 giving as a potential gain of over 4 times our risk.

EURAUD H8 (07-14-2016 0635)XAUUSD H4 (07-14-2016 0637)

Taken out on silver and GBPJPY

Silver retraced and took me out. Took a second loss on GBPJPY.

XAGUSD

XAGUSD

GBPJPY

GBPJPY

Long silver again

Going long silver again. The signal is a bullish engulfing on the H1 chart. Stop loss below recent low.

XAGUSD

XAGUSD

Taken out on Gold, thanks NFP

Taken out on Gold by a retrace lower. Loss of 1501 pips. That’s what NFP does to you, and so much for not following my own advice 🙂 See the volatility on H1 chart below.

Loss on Gold

Loss on Gold

NFP impact on Gold H1 chart

NFP impact on Gold (H1 chart)

Careful today is NFP

Shorting GBPJPY

A short signal has printed on pound yen via a bearish engulfing in a strong downtrend. Stop just above previous high, T/P far below gives us good R:R. Shorting GBPJPY.

GBPJPY on H4

GBPJPY on H4

Loss on XAGUSD 51 pips

Silver XAGUSD retraced. My stop was a bit tight. Loss is 51 pips.

Silver

Silver

Shorting EURUSD

A bearish engulfing has printed on the 8H chart, hence we are shorting the EURUSD. Stop above previous high (1.1187) and T/P at next weekly support level (1.0792). Going in with a 1% risk, risk:reward ratio around 2.5 to 1.

EURUSD short

EURUSD short

Going long gold and silver

Going long Gold and Silver as both have been retracing. Given wider markets trends and flight to safety, temporary weakness on XAU and XAG are good oppportunities. Prices are printing bullish engulfing candles. Stop below recent lows.

Long Gold

Long Silver

Long Gold

Long Gold

Price action performance: +0.7% in May and +1.9% in June

We are back to profitable trading with two successive positive months on the Price Action trading account. May stood at +0.7% and June at +1.9%. The number of trades was extremely limited (3 in May, 2 in June) as I remained very cautious and strict on my criterias. In May 2 out of three trades were positive with a so so risk / reward of 1.25 to 1. Things were better in June with 1 winner and 1 loser but a 2.6 to 1 R:R ratio. I have now created a link to the Price Action account’s performance in MyFXbook so you can check the reality of these figures. Let’s see what July has in store for us.

May and June Price Action

May and June Price Action

Brexit is a shock. We need dust to settle

Brexit is a shock. Markets have been in turmoil on Friday and dust has not settled just yet. All charts are still looking very volatile, making any trading move quite difficult. I staid on the sidelines on Friday and it is quite likely things will remain this way for a couple more days.

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Great winning Gold trade +6530 pips

My long trade on Gold exited at Take Profit which was set at three times my risk. Excellent bounce on support area, went straight to profit in 13 days. Profit is 6530 pips. A great winning gold trade.

XAUUSD

XAUUSD

Retracement entry on AUDUSD

A nice rejection of above resistance (in a downtrend) has created an opportunity for retracement entry on AUDUSD. The subsequent candles showed good downward pressure. I have entered a sell limit slighlty above current price with a stop above recent high. This is a signal on 8 hour chart.

AUDUSD H8 CHART

AUDUSD H8 CHART

Gold trade looking good

Still waiting to reach other side of the range.

Gold moving up

Gold moving up

AUDUSD trade outcome -48 pips

AUDUSD

AUDUSD

EURJPY short setup

EURJPY has printed a nice pin bar on a resistance level above. The trade setup is a sell limit to try and get a retrace. With the stop above previous high and a take profit below the R:R is interesting.

EURJPY

EURJPY

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