Forex and CFD Trades 03-07 Jul 2017
I completed 6 trades this week ending up with 3 win, 2 lost and 1 breakeven. Overall I made +1.99%. A good start to the month.
Here were my trades.
USDJPY (+1.208%)
I posted this trade on 05 Jul 2017 at https://swingtrader188.blogspot.my/2017/07/usdjpy-trade-30-jun-04-jul-2017.html
AUDUSD (-0.494% and -0.366%)
I posted on 02 Jul 2017 at https://swingtrader188.blogspot.my/2017/07/audusd-pullback-trade.html of a potential pullback trade setting up on AUDUSD H4 chart.
AUDUSD did pullback to its previous broken resistance level, which usually tend to become support, but it did not this time round. I entered at 0.7625 on 04 Jul 2017 and was stopped out very quickly on the next H4 candle at 0.75846. I lost -0.494%.
I re-entered the next day on 05 Jul 2017 when AUDUSD formed a Doji bar at the rising 20sma on its daily chart. I entered at 0.7615 with a stop loss at 0.7575 but later decided to manually closed it at 0.75857 after a long red candle was formed following a bearish pin bar on the H4 chart. I lost -0.366%.
WTICOUSD (+1.325%)
I entered this short trade on 06 Jul 2017 at 46.103 with an initial stop loss at 46.65 risking -54.7 pips after WTICOUSD pullback to its declining 20sma, which coincided with the 61.8% Fibs level and a price congestion area on its H4 chart. The confluence gave me confidence that the declining 20sma would likely hold as resistance.
I took partial profit on 07 Jul 2017 at 44.775 for a +132.8 pips gain after the trade was in profit by more than twice my initial risk. I made +0.581%.
I then lowered my stop loss to 44.40 and was stopped out on my remaining units at 44.402 for a +170.1 pips gain. I made +0.744%.
Overall, it was a good trade where I made +1.325% but I would have made more had I not tighten my stop too early and micro managed the trade.
GBPUSD (+0.303%)
I entered this trade on 06 Jul 2017 at 1.29453 with an initial stop loss at 1.2995 after GBPUSD pulled back and formed a bearish topping tail candle at the neckline of its double tops reversal pattern. I had chosen the 38.2% Fib level at 1.2945 as my entry level. On hindsight the 50% Fib level at 1.2960 would have been a better choice.
GBPUSD moved up then consolidated with 3 small candles after I entered the trade before it moved down and formed a long bearish red candle. I zoomed down to the H1 chart and lowered my stop loss to 1.2915 after GBPUSD formed a Doji candle on the H1 chart. I was stopped out on the next H1 candle. It was still a positive trade where I made +0.303%.
NZDUSD (+0.011%)
NZDUSD was in a trading range within an overall bullish trend. I entered the trade on 05 Jul 2017 at 0.7270 near the bottom of the trading range. The trade was going up and down back and forth going nowhere. When NZDUSD formed a long topping tail on its H4 chart on 07 Jul 2017, I decided to tightened my stop loss to breakeven +1. I was stopped the next H4 candle. I made +0.011% but it was more or less a breakeven trade.
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
Here were my trades.
USDJPY (+1.208%)
I posted this trade on 05 Jul 2017 at https://swingtrader188.blogspot.my/2017/07/usdjpy-trade-30-jun-04-jul-2017.html
AUDUSD (-0.494% and -0.366%)
I posted on 02 Jul 2017 at https://swingtrader188.blogspot.my/2017/07/audusd-pullback-trade.html of a potential pullback trade setting up on AUDUSD H4 chart.
AUDUSD did pullback to its previous broken resistance level, which usually tend to become support, but it did not this time round. I entered at 0.7625 on 04 Jul 2017 and was stopped out very quickly on the next H4 candle at 0.75846. I lost -0.494%.
 |
| AUDUSD H4 Chart - Trade #1 |
I re-entered the next day on 05 Jul 2017 when AUDUSD formed a Doji bar at the rising 20sma on its daily chart. I entered at 0.7615 with a stop loss at 0.7575 but later decided to manually closed it at 0.75857 after a long red candle was formed following a bearish pin bar on the H4 chart. I lost -0.366%.
 |
| AUDUSD Daily Chart |
 |
| AUDUSD H4 Chart - Trade #2 |
WTICOUSD (+1.325%)
I entered this short trade on 06 Jul 2017 at 46.103 with an initial stop loss at 46.65 risking -54.7 pips after WTICOUSD pullback to its declining 20sma, which coincided with the 61.8% Fibs level and a price congestion area on its H4 chart. The confluence gave me confidence that the declining 20sma would likely hold as resistance.
I took partial profit on 07 Jul 2017 at 44.775 for a +132.8 pips gain after the trade was in profit by more than twice my initial risk. I made +0.581%.
I then lowered my stop loss to 44.40 and was stopped out on my remaining units at 44.402 for a +170.1 pips gain. I made +0.744%.
Overall, it was a good trade where I made +1.325% but I would have made more had I not tighten my stop too early and micro managed the trade.
 |
| WTICOUSD H4 Chart - Exit #1 |
 |
| WTICOUSD H4 Chart - Exit #2 |
I entered this trade on 06 Jul 2017 at 1.29453 with an initial stop loss at 1.2995 after GBPUSD pulled back and formed a bearish topping tail candle at the neckline of its double tops reversal pattern. I had chosen the 38.2% Fib level at 1.2945 as my entry level. On hindsight the 50% Fib level at 1.2960 would have been a better choice.
GBPUSD moved up then consolidated with 3 small candles after I entered the trade before it moved down and formed a long bearish red candle. I zoomed down to the H1 chart and lowered my stop loss to 1.2915 after GBPUSD formed a Doji candle on the H1 chart. I was stopped out on the next H1 candle. It was still a positive trade where I made +0.303%.
 |
| GBPUSD H4 Chart |
 |
| GBPUSD H1 Chart |
NZDUSD was in a trading range within an overall bullish trend. I entered the trade on 05 Jul 2017 at 0.7270 near the bottom of the trading range. The trade was going up and down back and forth going nowhere. When NZDUSD formed a long topping tail on its H4 chart on 07 Jul 2017, I decided to tightened my stop loss to breakeven +1. I was stopped the next H4 candle. I made +0.011% but it was more or less a breakeven trade.
 |
| NZDUSD H4 Chart |
Disclaimer:
Trading and investment involves risk, including possible loss of principal and other losses. I shall not be responsible for any losses or loss profit resulting from trading or investment decision based on my posting and any information presented in this blog.
Thefibonacci calculatorr is a tool that traders use to help identify strategic places for transactions, stop losses or target prices to help them get in at a good price.
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