EURUSD trade 010915

Order: pending buy stop.
Instrument: EURUSD
Entry: 1.12618
SL: 1.12318
TP: 1.13278
APP: yes
R/R ratio: 1:2.1
Signal: as per the TDM.

----------------------------------

TP taken out: +9.30

EoM Report

Brought forward: 313.34
Forecast estimate: 344.67
Actual: 244.83
Percentage gain/loss: -21.86%

September forecast estimate: 269.31

EURUSD trade 310815

Order: pending sell stop.
Instrument: EURUSD
Entry: 1.12158
SL: 12458
TP: 1.11498
APP: yes
R/R ratio: 1:2.1
Signal: as per the TDM.

------------------------------------

SL taken out: -4.29

USDJPY trade 310815

Order: Executed spot at market.
Instrument: USDJPY
Entry: 120.966
SL: 121.266
Signal: Bullish trend collapse.

---------------------------------------

TP taken out: +7.75

How to know when a trend is finished

USDJPY trade 280815

Order: Executed spot at market.
Instrument: USDJPY
Entry: 120.931
SL: 121.231
TP: 120.271
APP: yes 
Signal: Bearish tri-star formation on H4.

---------------------------------------

SL taken out at: -3.51 

AUDUSD trade 280815

Order: Executed spot at market.
Instrument: AUDUSD
Entry: 0.71819
SL: 0.73819
TP: Open
APP: no - variational long term trade.
R/R ratio: NA
Signal: Bearish sentiment possibly heading towards 0.7 then maybe further down to historic support of 0.6 - 0.62.

-------------------------------------------

Closed at market: +0.61

EURUSD trade 270815

Order: Executed spot at market.
Instrument: EURUSD
Entry: 1.12433
SL: 1.12733
TP: 1.11773
APP: yes
R/R ratio: 1:2.1
Signal: PA below 60 sma on the H4, H1 and 5M.

-----------------------------------------------

SL taken out: -4.44 

AUDUSD in decline

As can be seen by the AUDUSD MN chart below the Aussie is severely weakening against the Greenback. Looks like heading towards the lower 0.60 mark if PA resolves itself technically.

USDJPY trade 250815

Order: pending sell stop
Instrument: USDJPY
Entry: 118.320
SL: 118.620
TP: 117.660
APP: yes
R/R ratio: 1:2.1
Signal: Bearish sentiment.

-----------------------------------------

SL taken out: -3.54

AUDUSD trade 240815

Order: pending sell stop.
Instrument: AUDUSD
Entry: 0.71986
SL: 0.72286
TP: 0.71326
APP: yes
R/R ratio: 1:2.1
Signal: Full bearish sentiment.

------------------------------------------------

TP take out: +8.65

EURUSD trade 240815

Order: Executed spot sell at market.
Instrument: EURUSD
Entry: 1.15181
SL: 1.15481
TP: 1.15421
APP: 1:2.1
Signal: Rebound of high of resistance area level 1.15300.

----------------------------------------------

SL take out: -4.18

USDJPY trade 240815

Order: executed spot buy at market.
instrument: USDJPY
Entry: 120.409
SL: 120.109
TP: 121.069
APP: yes
R/R ratio: 1:2.1
Signal: Bullish rebound from prior support area 120.000.

-----------------------------------------

SL take out: -3.68

USDJPY trade 240815

Order: pending sell stop
Instrument: USDJPY
Entry: 121.172
SL: 121.472
TP: 120.512
APP: yes
R/R ratio: 1:2.1
Signal: Resolution of the PA bearing down on major 120.00 support level.

--------------------------------------------

TP taken out: +7.55

Three ducks method

Whilst those of us who have traded for a while become aware that the 'holy grail' of forex is nonexistent some methodologies come closer than others.

One such method is the 'three duck method' devised by a forex veteran who goes by the handle of Captain Currency. When utilised with a solid money management foundation this method ticks all the right boxes.

No method in forex of course is totally foolproof. Will you loose trades, absolutely. But what I will say is you will win also and provided you're diligent and patient enough you will have more wins than losses.

It is so insanely basic as any plan can be but as a technical trend trading method it is in its own league. Rather than explain it however you're far better advised to check out the Captain on twitter and on blogspot. Plus make sure you get hold of the 'three ducks method' ebook.

 

EURUSD trade 210815

Order: pending buy stop
Instrument: EURUSD
Entry: 1.12953
SL: 1.12653
TP: 1.13613
APP: yes
R/R ratio: 1:2.1
Signal: PA above 60 sma on the H4, H1 and 5M TF.

------------------------------------------------------

TP taken out: +8.95

GBPJPY trade 210815

Order: pending sell stop
Instrument: GBPJPY
Entry: 193.275
SL: 193.575
TP: 192.615
APP: yes
R/R ratio: 1:2.1
Signal: PA below 60 sma.

----------------------------------------

Closed out at market: +2.35

Plan

A basic rundown of execution of the plan is as follows:

1. Look for directional bias: check for higher highs or lower lows on the MN, W1 and D1 TF. Does the CCI confirm this PA bias? What about Market Sentiment? Do they both concur? Watch for PA directional clues via candles.

2. Set trade with a risk to reward ratio of 1:2.1. This will mean we only need to be successful 33% of the time to remain profitable.

3. Initialise trade.

GBPJPY trade 170815

Order: Spot buy market execution.
Instrument: GBPJPY
Entry: 194.588
SL: 193.588
TP: 196.788
APP: yes
R/R ratio: 1:5.14
Signal: Bullish sentiment on D1, W1 and MN.

-------------------------------------------------------

SL take out: -10.99

GBPJPY trade 120815

Order: Spot buy market execution.
Instrument: GBPJPY
Entry: 193.981
SL: 192.981
TP: 196.181
APP: yes
R /R ratio: 1.2.1
Signal: Bullish trend on MN.

-------------------------------------------

Closed a market: +0.50

GBPJPY trade 110815

Order: pending buy stop
Instrument: GBPJPY
Entry: 194.540
SL: 193.540
TP: 196.740
APP: yes
R/R ratio: 1:2.1
Signal: Engulfing bullish candle/sentiment bullish.

------------------------------------------------

SL taken out: -12.12

GBPJPY trade 070815

Order: pending sell stop
Instrument: GBPJPY
Entry: 193.000
SL: 194.000
TP: 190.800
APP: yes
R/R ratio: 1:2.1
Signal: Bearish engulfing.

--------------------------------------------

SL takeout: -10.88

GBPJPY trade 060815

Order: Spot buy
Instrument: GBPJPY
Entry: 193.865
SL: 192.865
TP: 196.065
APP: yes
R/R ratio: 1:2.1
Signal: Bullish rebound off of support.

-------------------------------------------

Closed a market: -4.87

GBPJPY trade 050815

Order: Spot buy - market execution
Instrument: GBPJPY
Entry: 194.309
SL: 193.309
TP: 196.509
APP: yes
R/R ratio: 1:2.1
Signal: Bullish rebound from support.

------------------------------------------------------------

SL takeout: -11.05

GBPUSD trade 050815

Order: pending sell stop
Instrument: GBPUSD
Entry: 1.55471
SL: 1.56471
TP: 1.53271
APP: yes
R/R ratio: 1:2.1
Signal: Double top on the D1 chart/Bearish sentiment.

------------------------------------------------------

SL take out: -14.07