Going long GBPUSD this morning, pair is trending up and risk can be kept low at latest fractal.
Two trade signals this morning.
A trade setup has formed enabling to go long EURUSD.
Price above cloud, EMA and Kijun trending up, stop at last fractal.
Long signal on CADJPY this morning. Stop at last fractal, T/P placed at a strong resistance level above, which is actually a Kumo top if you look at the graph in Daily timeframe.
New signal on EURGBP
Trading activity is extremely low these past few days, since most of all ongoing trends have reversed or are reversing. Most pairs are inthe cloud or retracing; so our system is not giving any clear signal. There is a general trend of uncertainty in the markets, as fundamental drivers are getting blurred. So we remain patient, on the sidelines.
Another case of retrace taking me out with subsequent continuation of the trend in the right direction. No problem, but a very bad start of the month with mainly losing trades so far. I do however have two open trades that are in profit. I’ll have to manage them well to get the money management machine to save the day. No change in the strategy, no revenge trading, I missed a couple of good signals that happened during midday but that’s how I trade, nothing I can change and it’s been profitable so far. So this month is a typical case were psychology usually drives you to overtrade or shift strategies. I’ll try and stick to the rules without emotion.
Going long on EURCAD, good signal appeared.
As an exception stop-loss is not at fractal but at Kijun Sen level.
I got taken out on the XAUUSD long taken yesterday morning. Eventually the pair took the direct direction, but my stop was a little close (latest fractal).
Retrace stopped me out,