Morning FX session highlights – EURUSD (VFI)

After a while of not posting my VFI strategy charts I am back with today’s morning session and trading results. This morning I have executed 3trades. Two winners vs one looser. Looser was based on very premature ENTRY and was exited quickly (-6pips) after recognizing that my timing was technically incorrect. Two other trades were winners (+9 + 18 = +27pips). In first trade I went long EURUSD on the higher volume and break of W strucutre. The structure had solid leg length and good potential. After it broke-up the entry level it retraced and went up again. At this stage I didnt like the way the move went up. The progress was slow with constant pull backs (according to the reading p-a). I have exited with +9pips.

In my last trade I was shorting EURUSD with “M within M formation”. I liked the structure, I liked the way 1.38 became a magnet to many traders, hourly chart looked bearish and M5 structure started to become bearish too. Last thing I was waiting for was stronger down move and higher volume from /6E (min. above 500 on 1M). It happend very soon after I set my entry rules and in terms of 5 minutes my objective was hit = +18pips.
So overall this morning was solid. Looking forward to afternoon session.

PS: You might have noticed that my VFI charts looks bit different now. For a while I was looking for an indication of “%change”. I used to use ATR for that but I wanted something absolute and something what would graphically TICK :). So from now and on I ll be using “Percent Change” indicator at the bottom of the chart as a simple indication of an absolute change. Nothing more, nothing less. You can find it and download it from this post.

Happy trading.