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- patguay replied Feb 5, 2024
Good news: GBPUSD has finally broken the 1.26 support level. Now whether this is a false breakout or it will retest the resistance level from here will depends on the US traders taking over in a few hours time.
- patguay replied Feb 4, 2024
Having said that, GBPUSD is not completely out of the wood yet. It is still range bound between 1.26 and 1.28, currently hovering near the bottom end of the range. If it penetrates below 1.2595 and retest the support zone, there is a high chance for ...
- patguay replied Feb 4, 2024
Based on my observation for the past 12 months NFP, this is by far the best one. 1) The price hardly retraced during the 1st 30 mins after data release. 2) Even the last 1 hr before US market close, the retracement is at best shallow, suggesting ...
- patguay replied Jan 10, 2018
When such a major news hit the market, based on my observation for the past 6 months, Fundamental Analysis always dictate the trend and Technical Analysis take a back sit. So when I enter the Yen trade, I don't follow the technical setup like what I ...
- patguay replied Jan 7, 2018
The Loonie was the best performer among the majors last Friday but the momentum of the currency eased after the Ivey Purchasing Manager Index showed a larger than expected decline in Dec to 60.0 from 63.0. Nevertheless, I am more inclined to trade ...
- patguay replied Jan 4, 2018
For the past few days, the market is characterized by risk-on sentiment: booming commodities supported by good economic data from China Global business optimism are at record high except for UK firm (due to Brexit uncertainty) Risk on environment ...
- patguay replied Jan 2, 2018
This is a typical example of closing the trades in profit too early in 2nd - 3rd wk Dec . It does not help when I have done all my homework. All the facts are pointing to selling the USD since the market has already priced in that Fed is going to ...
- patguay replied Jan 2, 2018
Update on Jan 2 for UK manufacturing data: Although UK Manufacturing PMI data misses market expectation, it does not affect most of the GBP currency pairs (having going south shortly after the news release but recovers quckly). UK manufacturing ...
- patguay replied Oct 27, 2016
I would like to take this opportunity to thank Dale for sharing his knowledge on market profile and his unique trading strategy (I am more accustomed to the conventional moving average, Elliot wave, MACD, ...etc. ) I have been trading NZDUSD and ...
- patguay replied Jan 17, 2013
I would not re-enter again so soon if my first trade get stop out. Otherwise, I am chasing after the price not the trend. It seems like NZDJPY is stuck in the sideway trend as shown in the picture below. The PA need to breakout from the resistance ...
- patguay replied Jan 16, 2013
Hi Spyderman, May I know how to interpret this P/L statement? Today, there is a return of 17%. Does that mean that you have closed a trade that earn you 17%? If so, the exit is 0 whereas the entry is 1. If 1815 pips is equivalent to 17%, I wonder ...
- patguay replied Jan 16, 2013
I find EURJPY pretty tricky as H1 and H4 seems to be going opposite direction. In the next 20 mins, if bearish engulfing pattern is form for the signal candle, you can short H1. Yet now, you can also long H4 as shown in the pictures below. Both are ...
- patguay replied Jan 16, 2013
At this stage I would not want to enter NZDJPY as the PA has penetrated too deep into the region between EMA 100 and EMA 200. I would enter long position if there is a forceful rebound from the region but currently it seems like it may penetrate ...
- patguay replied Jan 15, 2013
I missed this trade as I am following the H4 trading rules. Anyway, GBPUSD meet the H4 criteria and I entered the trade around London opening. The initial risk is 30 pips but now I have brought it to B/E with a profit of 20 pips.
- patguay replied Jan 13, 2013
Hi EasyRyder, I have evaluated your indicators provided and set the timeframe to be TF1: 60; TF2: 240; TF3: 1440. I did a backtest on EURJPY using M15 timeframe and this is what I get as shown in the attachment. The blue vertical lines is the region ...
- patguay replied Jan 10, 2013
I have entered another 5 trades last night and when I wake up this morning, my paper profit exceed 10% of my initial capital which is much better than my first day profit of 5.38% appreciation. How I wish I am trading live account. Although none of ...
- patguay replied Jan 10, 2013
Since yesterday, I have entered 5 positions namely AUDCAD, AUDJPY, AUDUSD, NZDJPY and NZDUSD. I have just closed the position with a profit of $502.11 (Please ignore the first trade as this belongs to another trading strategies). Not a bad deal ...
- patguay replied Jan 10, 2013
I have a question. I notice that the HA smoothed indicators for weekly T/F has been in the uptrend for a prolong period of time. There are days when the Daily T/F are in the downtrend as shown in the highlighted circle in the Daily and Weekly chart ...
- patguay replied Jan 10, 2013
Does anyone monitor NZDUSD and NZDJPY now? It looks good to me. It has strengthened for the past 3 hrs against JPY and USD.
- patguay replied Jan 10, 2013
It seems like there are a lot of currency pairs fulfiling the trading criteria. I have just enter my 2nd long position with AUDUSD and within minutes I have made profits. Those 3 profits highlighted in oval on the right hand side of the 2nd picture ...