GBPCHF - Beautiful Fib Set-upThere are a couple of these in the GBP pairs, this one is the cleanest of them all in my opinion. I'll be disciplined here and wait and watch for a reversal set-up off of the 38.2 in order to make my move.
Newsensetrading
4.18% profit so far - 6 Trades from yesterday's analysisUSDJPY - 2.3%
USDCHF - 1.88%
NZDCAD - ?
NZDJPY - ?
EURUSD - ?
EURCHF - ?
EURCAD - ?
AUD Pairs (2/24/20)Nothing that stood at AUDUSD and AUDJPY made the watchlist for the week but I don't plan on trading them.
CAD Pairs (2/24/20)Trending pretty nicely but no "easy" entries. Will watch and consider getting in (CADCHF) on a 61.8 Fib play.
CHFJPY (2/24/20)Beautiful patterns on this pair, getting the entry I want is going to be a matter of chart time and patience. Really not as suited for a "trap" entry but still has potential for some pretty effortless trades.
EUR Pairs (2/24/20)Probably the cleanest set-ups for the week with longer-term potential. Watching EURUSD, EURCHF, and EURCAD really closely.
GBP Pairs (2/24/20)Lots of movement, not very clear on trend or possible entry for me. I'm sitting out on these pairs as a whole. GBPAUD is interesting and I'll be watching it to form a pattern that I might be able to trade soonish.
NZD Pairs (2/24/20)Not much to take action on, wait and watch for a possible entry on the the NZDCAD imo.
USD Pairs (2/24/20)Looking for quick 1:1 trades this week from USD base pairs. I think there are opportunities for this but don't see anything long-term that I want to trade at this point.
USDCAD updateBig bearish move has us at the bottom of a Key Level range but not quite breaking it. I'm going to need to wait and watch this one for a bit longer as we consider closing this down due to it stagnating, or actually leaving it alone as it creeps toward profit target. Either way, price action is shaping up to not behave in step with the strategy. That means it doesn't fit the profile and needs to be treated as such!
USDCHF 2.34% profit taking vidWe did it again, frictionless autopilot trade on USDCHF. This one was outside of the PRS framework but we still used the principles that hold true to get in and out of this trade with no maintenance of the position at all. I love this, I'm slowly learning to make most of my trades enter and exit in this manner.
AUDJPY did not get triggered but was a safe entry for breakoutThe move happened, we just weren't on the wave.
AUDJPY setting the trap - Newsense TradingAnother set-up similar to USDCHF, this one involved the 50% fib level as support after being proven as a viable level in the recent past for the intraday charts.
USD/CHF 1st trade potential - Newsense TradingI love the level we are at on the Daily charts. Upon further inspection I'm considering getting in early for a breakout trade rather than waiting for a pullback entry like I typically would want.
USDCAD no man's landI love trading the PRS but the momentum might be completely gone at this point. I preach about not being in this phase of uncertainty with positions. I try to avoid this at all costs. Trading is indeed mental my friends.
2/19/20 The Week so FarI'm learning to accept these harder weeks as the better opportunities for me to become a great trader. Of course I love it when every position I take jumps out at me and earns me a profit, but I remember a point when I would avoid the charts entirely after a string of either losses or missed opportunities. It's so important to continue to trade with an unbiased approach as you look to identify good trades rather than "profitable" trades. As I always mention, this trading game is all about probabilities and consistency, money is just a byproduct.
Missed Opportunities/Good Trades Bad Outcomes - HumbledUSD/CAD pyramid pattern showing signs of not forming
CHF/JPY entry missed
EUR/USD exited before a big profitable drop
Some days are just like this, I'll recoup by putting time in and recognizing which trades were just too risky for me to have predicted and which ones were a product of me not putting in the time to ID them. I like these days, they remind me of the improvement I still have remaining.
Positions I'm Holding over the Weekend - Recap Vid USD/CAD building my position
EUR/USD 2nd trade triggered and currently on-route to profit target
CAD/JPY adjustment trade slow to move, currently close to break-even
CHF/JPY no chance to continue bullish at this point, waiting for an entry to ride bearish momentum down.
USD/CAD 3rd entry vidLive entry on USD/CAD, I usually trade strict limit orders around the Pivot, but this is cause for an exception.
