Update Position From week 4

Close position at 1.3764, Total profit of 51 pips..

Price close above red line..

I'm still bearish on Euro, if it's not retrace more than 50-61.8 fibo. Let's look for another sell opportunity..

Weekly Trading Review (week 4)

EUR/USD Hourly

Five magic bullet on EUR/USD, Price is in the target zone, between 61.8 and 100 fib expansion, a couple of squat bar, triple divergence between AO, RSI and Price and changing in momentum, the ao turns red. I entered this using 15 minutes chart, I'd say it's an aggressive entry, but i was thinking, it's near the 100 fib expansion and I'm quite comfortable with my risk (stop loss) so i took it. Let's look at the 15 min chart.

EUR/USD 15 min

I entered sell based on fractal 1 breakout, a saddle point but a short consolidation, like i said before it's an aggressive entry, normally I'd wait for fractal 2 breakout but i'm comfortable with the risk, near 100 fib expansion so i took it anyway. Enter sell at 1.3815, haven't closed it yet, 65 pips of floating profit. My exit will based on the hourly chart, we'll see wat happen on Monday...

Weekly Trading Review (week 2)

GBP/USD Hourly

My second trade of the month. another saddle point on GBP/USD hourly chart, alligator was sleeping but not for long, quite short consolidation. Didn't take fractal no 1 breakout, because it's too early, the alligator was just starting to sleep. Then a second breakout, on fractal no 2, but I also didn't take it, coz the alligator was still sleeping.

Price failed to go up, create a bearish divergent bar (fractal no 4), if you're aggressive you can take this. Then it continue to go down and break fractal no 3, i enter sell at 1.6107. After i enter, price went up but it still close below the red line and didn't hit my stop loss at fractal no 4. Then another fractal breakout (fractal no 5), add on sell at 1.6084.

It's quite a volatile market, decided to tighten up my stop for one of my position, 5 bar trailing stop for my 2nd position and i got stop out at 1.6077 (fractal no 6), a total profit of 7 pips and for my 1st position i used the red line which was hit at candle no 7 where it close above the red line at 1.6083, a total profit of 24 pips.

Weekly Trading Review (week 1)

EUR/USD Hourly

My first trade of the month, a saddle point on EUR/USD, alligator sleeping, AO and AC near zero. The first fractal that was hit is fractal no 2, but I didn't take it. For me personally, I prefer not to take the first fractal breakout, cause from what i see so far, most of the time, it's a false break.. ooh well not always but it's better to wait for the 2nd fractal breakout. Anyway it's a bit too early since the alligator is not sleeping long enough.

Well, it turn out to be a false break, price continue to go down and it break fractal no 3. At the time the alligator was still shut, so I didn't take it. Then it continue to go down, alligator was opening and it break the outer most fractal, which is fractal no 1 so i entered sell at 1.3765 and tighten up my trailing stop just before non farm payroll and I got stopped out at 1.3645 (5 bar trailing stop, fractal no 5). A total profit of 120 pips.