I am shorting EIRCAD on a downward trend, price below cloud, EMA slope is down, RSI has bounced, stop at latest fractal.
Long signal on EURNZD
A trade setup has formed on EURGBP. Good upward trend, RSI has been retracing and is now up, EMA is sloping up, stop loss at previous fractal. Go long.
Several trade opportunities this morning with the Ichimoku momentum strategy : USDJPY and EURUSD
Going long with bullish pressure on EURUSD and setting up a buy stop on AUDNZD if previous high is broken.
Short signal on USDCAD.
This month of February is proving very challenging. My EURAUD trade has been stopped out as the pair retraced, bringing Feb losses to a cumulated 6.8%, quite a significant drawdown. So far this month all of my ten trades have been loss making, 100%. Well, as we all know this is precisely not the time to change anything. No revenge trades, stick to the rules. This is also the reason why this website is very useful to me, being totally transparent I am forced to be disciplined and remain steadfast on the way I implement these rules. Let us see how this unfolds as we near the end of the month. It is clear that my strategy is a momentum trading strategy and currently there is an evident lack thereof. The objective will be to capture the right momentum when trends resume because over the long run this is what will make momentum trading profitable.
A long signal on AUDNZD this morning. We’re out of the kumo and the 21 EMA is trending nicely. Latest fractal allows for a nice tight stop loss placement.
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.