Ok. After a while of not being present, traveling, working on my trading game and other projects, it is time to summarise what is cooking in the kitchen :). So what I have been doing lately?
TRADE SUMMARY: selling the aggressive rejection and break of market structure on retrace due to SFP
TRADE SUMMARY: this trade had a good base. Started to create higher lows and momentum. Based on the I have decided to enter on retrace. Got in at very good spot. Unfortunatelly, this was a trade: run or run away. Market run, but just for a while. It reached a nice open profit, but then shit itself. I did not want to risk it since it went against my rule of run or run away type of position. I have decided to close the position on rebound. Market eventually reached my target. Overall, decent trade.
TRADE SUMMARY: market pushed higher, I was expecting the retrace to play the takeout of the stops. This trade was quick and I knew I was immediately wrong. I got out on the rebound.
TRADE SUMMARY: Big disappointment of the month were AUDUSD where I was targeting +3R. Unfortunatelly, a month long position was closed just for 0.3R. I am happy for 0.3R at least, because if I would be stubborn, it would eventually hit my sl. So what happened? Market broke nicely out of 7600. It held 7600 and moved forward. At this stage I was expecting market to be quicker. But I was patience. New higher lows were created, no rush. New higher highs were created. I got first worried when the 7650 got broken a bit. New high was not created and 77 held as a resistance to buyers. That was a first moment of doubts. When 7600 was attacked, I knew I had to get out. I have waited for the bounce and got out. Very small profit, good trade.
TRADE SUMMARY: This trade was a great example of me not getting married with the position. My initial hypo for this trade was biased SHORT. Long run of USDCAD hit a decent area (marked purple on D1) and paused. On Monday open I have entered a limit short trade. This trade moved nowhere and started creating higher lows. I have decided it to call it a position at -0.4R and closed the trade. Since the market was creating new higher lows, my stats are telling me, that in the last year I have either been personally in a couple of these trades, or I have noticed many of these trades. It is that moment, when after run, market starts to create higher lows and wants to push higher. I have flipped the position and got long. Within 24hours my target was hit.
The very last trade of 2016 turned out to be a good one and I gave my last update for this trade here. I was lucky to ride the EndOfTheYear runner. And as quick the Santa rally came into USDCAD, it also went away. I was lucky to ride this wave all the way to the top. This was one of those trades, where everything was precise. One out of ten where you are that lucky. Precise entry, perfect run, precise exit. No headaches. Great end of 2016.
TRADE SUMMARY: I have been waiting for this trade since 16.12.2016. D1 came into a ZONE OF LOVE (87 – 86). Zone which formed flips many times in the past and was strongly rejected. Since we know what happens with zones that has been tested many times before (they got violated), I knew that this should be rather MOVE2MOVE type of play. It was not obvious straight away but I have realized that pretty quickly. I have entered on LIMIT while on my Thailand vacation. I was able to watch the position only from my mobile. Market made it super easy for me this time. No headache. Just straight line towards the target with just one short stop.
Summary: I have been quiet for the last month simply because the opportunities for my strategy shrunk as we approached Christmas holiday season. The only trade I was chasing was a USDCAD trade out of which 1 out of 2 positions is still open. The first position ended up as a loss, see red arrow down below. A loss of -1R. Second position was at decent spot of confluence and I am keep holding it, currently being at +3.6R (approx 400pips). It is important to mark that it is unrealized gain 😃 and as with every trade, as long as the trade is Open, the profit is just vapor air, a star dust, nothing. Hopefully I will be able to get that star dust and transfer it into real R profit. My target is still now at 1.36 that would get me to almost 500pips. Lets see if I will be able to get there. On the other hand, anything below 3250 would get me into a “getoutmode”. Lets see how this plays out.