Weekly Trading Review

EUR/GBP Hourly Chart

A nice saddle point, AO and AC around or near zero, the alligator sleeps for quite a while with a bracketed market. Well this is a good setup to enter a trade according to Bill Williams.

Started by entering the 1st fractal breakout, buy at 0.8325 and then got stop out at 0.8307 (fractal 2 breakout), I guess it's a bit too early, since the alligator mouth was shut tight. a total loss of 18 pips

Stop and reverse on fractal 2 breakout, Sell at 0.8307 then I got stop out again at 0.8336 (fractal 3 breakout), a total loss of 29 pips

Stop and reverse again on fractal 3 breakout, Buy at 0.8336, the alligator starts to open, then the price came back and close below the red line, Close position at 0.8322, a total loss of 15 pips

Another fractal breakout (4th fractal), enter buy at 0.8341, the alligator opening up and the trend took off, add position by entering fractal 5 breakout, buy at 0.8360. Close both position when price go one tick below the bearish divergent bar (6) at 0.8423. A profit of 82 pips and 63 pips.

Didn't take the 6th fractal, don't want to be too aggressive, looking at the AO, no divergence yet, no wave 5 yet, so probably it's running in wave 4, possibly wave c of 4 and also price still below 61.8 fibo on 4 hour chart, so it's possible, EUR/GBP still in bearish mode, waiting for a wave 5 down, otherwise let's just wait for another saddle point...

So this week trade make a total profit of 83 pips..