AUD/USD Trading Plan

AUD/USD Hourly

Looking to buy with a possible target 1.130 (fibo expansion 61.8 target zone)

1.1016 can be a possible buy fractal or we can wait for a saddle point

Technique for placing stops/taking profit the profitunity way

1. Red or Green line (alligator)

This is a stop close only (price close below or above the red/green line)

Use the red line when you feel you're in a trend, to stay longer in the market.

When you see divergence in the AO or the other 5 magic bullets, you might want to change your stops to green line.

Also when the price move far away from the alligator line, tighten up your stop loss.

2. 5 Consecutive Bar Stop

This is best for volatile market

3. Bullish or Bearish Divergent bar

Use this when it's formed near support/resistance

Also when there's divergence in the AO or the 5 magic bullets

4. Sell/Buy signal in the opposite direction

Weekly Trading Review (4 - 8 july)

1st trade

EUR/USD hourly

Let's call this an ABC pattern.
Start with an AO divergence, price start to go down (wave a) then it rebound create an up fractal (61.8 fib resistance) but didn't go past previous peak (wave b), then sell on the way down, break down fractal at 1.4491 then i just close it at 1.4400 (long red candle, often it'll correct), well I feel at that moment, 91 pips profit is enough..

Didn't take the other down fractal, would be more profitable, hmm.. I forgot why i didn't take it..



2nd trade and 3rd trade

EUR/USD hourly

Looking at the chart, it's definitely a down trend

I took this trade using 15 min chart, before non farm payroll..

Let's look at the 15 min chart

EUR/USD 15 min

A saddle point, the trend is down, so i'm only interested in selling opportunity, I ignore any fractal up breakout.

But there's a BDB near resistance, and my stop loss is less than 20 pips, so i took an early entry when it break the low, one tick at 1.4333 then i sold it near support at 1.4290, 43 pips profit..

then it break the support (break the down fractal), create a new down fractal and moves up,


So if it go down again and break that new down fractal, I'll enter, since the fractal below the support level.

Price went up, didn't go past it previous peak, only go near the red line (can use this as a resistance) before it went down again and break the down fractal at 1.4289, enter sell, the AO turn red again and went past it previous peak. Close it at one tick above the long bullish divergent bar 1.4259, 30 pips profit..

4th trade & 5th trade

another saddle point, sell the first down fractal breakout at 1.4341, this is right before non farm payroll, so i put tight stop. A bullish divergence bar, sold it at 1.4343, -2 pips loss.

Then it breaks another down fractal, enter sell at 1.4334, sold it at 1.4290 (near fibo 50-61.8), 44 pips profit.

If i let it run, i would've gotten more profit, but it's right before non farm payroll, better play it safe : )