Forex Trading Bragging Rights

[garykerdus]

Normally I prefer to trade the larger time frames, but today the AUDUSD 15 Minute time frame provided a scalp opportunity. The market began making lower-lows and lower-highs and formed an evening star at the down trendline. I entered short looking to scalp the candlestick formation. Walked away with +11 Pips in 20 minutes.

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[FX Face]

Great Job! Keep it up!

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[garykerdus]

The market was in a bear trend on the Daily Time Frame. The market then formed a bear crown on the four Hour time frame. I entered the market short with an entry order at the .618 retracement. The Limit was placed at the 1.618 extension. The GBP retraced further to the .78 fibonacci resistance and I adjusted my limit to the 1.27 extension. The market also found resistance at the left tip (extended red resistance line) and proceded to continue it's anticipated bear move until it found a daily level of support. This level of support was past resistance on the Daily which also held as support on the 4 Hour on 2/15. I made a decision to close out this trade at support and will look to re-enter when the market retraces before it continues it's bearish trend to the 1.27 extension. +147 Pips

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[FX Face]

Awesome! what a great job!

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[FX-Pathfinder]

Hey Gary,


It was fantastic when you came in the room today and told everyone about your short on the GBP/USD. Just shy of 150+ pips in one day. One word my friend. AWESOME lol

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[fx_roms]

FX-Pathfinder Says: "Do not buy the market anymore if a D extension has been hit. Start looking for shorting opportunities when this happens". Well I guess that happened to get stuck in my head and thank heavens it did cos it made me spot this opportunity:

i) GBPJPY had hit a d extension on the daily and formed tweezer tops
ii) The 120 chart started making lower highs and lower lows (though not very strong). Also a counter trendline break was more confirmation of bearish trend.
iii)On the 10 minute timeframe. The previous low was taken out, a lower low had been formed, and a bearish engulfing candle followed by the velocity fuel gauge was my entry point. My target was the 120 D extension

Risk: 33 pips
Reward: 48 pips

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[FX-Pathfinder]

FX_ROMS!!!!! I took the same short trade!!!! Way to go and great analysis my friend. very exciting to see we are on the same page!!!!

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[garykerdus]

Bought USDCHF 60 Time Frame. The market formed an engulfing bullish candle on the daily. I dropped down to the one hour and noticed a counter trendline break. Entered long, placed stop just below the low, and limit 15 pips before the 1.618 extension. +47 Pips.

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[garykerdus]

EURUSD formed an Engulfing Bearish Candle formation on the Daily. I dropped down to the one hour time frame and went short at the counter trendline break. Placed stop above the high and limit 20 pips before the 1.618 extension. +61 pips.

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[FX-Pathfinder]

EURUSD formed an Engulfing Bearish Candle formation on the Daily. I dropped down to the one hour time frame and went short at the counter trendline break. Placed stop above the high and limit 20 pips before the 1.618 extension. +61 pips.

Good morning Gary,


Great trade my friend.

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