Thread: Pattern/Price Action Trades

Played a 1-2-3 off the bottom of the fad last night for 30 pips. Was a workable trade and it worked in my favor.

Sometime ago I said I'd never trade this pair, but I am in a position on this pair. Its fine to depart in the morning after placing a trade and come back and you're at -1.2 pips. I have a sense of security relating to this commerce LOL. Anyway, what's the basis for entering this improbable marriage? Well EUR/GBP has been consolidating since 2003 in a huge traingle. She is at the base of the triangle now, so at this time the trendline on the bottom represents significant support. I entered after seeing off the rebound the 61.8% fib retracement because it gave me a very low risk entry and I am planning on adding to this commerce in 3 stages if it moves in my favor all the way up to its target. So maybe next year out of the way things are looking LOL...

Are you offering in place if we place other charts on your own thread

Originally Posted by ;

are you offering in put if we post other charts onto your thread

concerning the 1-2-3 setup yes I would be happy to give input. I can not however describe to you the worth of subscribing for 6 weeks to Phil Newton's website. It'll cost $45 for that period.

Otherwise pls article away and we could probably learn from every other!!!!

Originally Posted by ;

Sometime ago I said I would never trade this pair, but I'm in a position on this pair. Its nice to depart in the morning after placing a trade and come back and you're at -1.2 pips. Somehow I have a sense of security relating to this trade LOL. Anyway, what's the foundation for entering this unlikely marriage? Well EUR/GBP was consolidating since 2003 in a enormous traingle. She is at the bottom of the triangle today, so now the trendline at the floor represents significant support. I entered after viewing the bounce off the 61.8% fib retracement since it gave me an extremely low risk entry and I'm planning on adding to this trade in 3 stages if it moves in my favor all of the way up to its target. So perhaps next year from the way things are searching LOL...

So far the installation is still legitimate, but I made a decision to pull from the for a reduction of -15pips. I didn't heed my rule, waiting for a confirmation via a trendline break!!! I wait a little more.

This transaction is already 60 pips in for today. I entered on a break of the trendline. I expect a retracement sometime, if not, oh well I'm in. The first view is on the daily demoning why I thought it was a fantastic opportunity to go long. Basically a reversal pattern off a fib retrace of an uptrend. All variables have been fulfilled for my installation and now I sit and wait for results. Lets hope it has been run in my own favor. Also looking for add-in opportunites in this trade to increase my profits once I'm comfortable with the management. However, this is it, these are the sorts of transactions I look for....

Here is an 8hr view of the transaction arrangement. I can not be seen here because of the appliions I used to capture the picture but the 3 portion of the installation hit on the 23.6 fibo precise before returning into its current price.

Target was fulfilled on the GBP/CHF trade. I can't fundamentally explain whynot did I expect it to run so quickly. But it was a very easy and beautiful ride this time.

The 15 minute interval. I really do off scalp of. It has to be a perfect setup or I will not take the trade. Depending upon how big the move, I will triple my position due to the small stop reduction that needs to b rigorously adhered to, or we risk losing our hides. This isn't for the timid. We're talking 10 to 15 pip moves at up t three times the sum of money we are utilized to handling. Luckily ths one went well, and I exited with 15 pips profit along with a small headache. This trade had been on the CHF/JPY 15 minute timeframe. There was a bounce off the Vegas 1hr emas, which was only luck that I watched this, but it was a nice confirmation for me after making my choice to enter.

Second Trade, A winner, EUR/JPY served up a nice pattern. A head and shoulders bounce off a fibo retracement, while on a 10 year uptrend. I don't trade the NFP, that for me is betting and I have lost enough money on it to know I'd better stick out and look for a tamer thing to trade. I won't trade that, even when I see a pattern. Here's the EUR/JPY trade.