Recent trades

Short USDCAD, Daily entry @1.00694 at the break of the red big candle.

 Target hit @1.00250 for a gain of +45

Long GBPJPY, Daily entered @153.996 on the pullback candle.

Edited Thursday, May 09 at 3:49PM
GBPJPY target was hit @155.750 for a gain of +175

Taking it on Yen

Here are my long trades from yesterday. I did not wait for my target to get hit its Friday and that zone marked in light blue can stall the price before it can proceed . If that happens I have time to enter again but for the meantime I'll enjoy my weekend :o)

USDJPY, Daily bought @98.116

Sold @99.207 for a gain of +110

CADJPY, Daily bought @95.596

Sold @96.716 for a gain of +112

Daily long entry on GBPUSD

GBPUSD, Daily @1.5351 The chart was snagged last night after it got filled. Stop loss has been adjusted this morning and placed at 1.5275

Edited, April 12 @ 12:08AM:
I've added units this afternoon @ 1.54049 thinking price will continue to soar.  However, price is presently stalling not feeling good about it I sold my first position @ 1.53763 for a gain of +25.

Good luck!

Edited Tuesday, April 16 at 8:03AM:
GBPUSD stop loss point was hit yesterday for a loss of -58 :o(

4H long entry

GBPUSD buy stop order triggered @1.5280

Edited, April 09 at 10:56AM
GBPUSD, 4H auto out take profit was hit @1.52460 for a gain of +54

Watchlist for April 8-12

Will be watching the following pairs:
AUDCHF, Daily for shorting opps

AUDJPY, Daily for long retracement

AUDNZD, Daily for short

CADJPY, Daily for long retracement

EURJPY, Daily for long retracement

GBPJPY, Daily for long retracement

GBPUSD, Daily for long retracement

NZDJPY, Daily for long retracement

USDJPY, Daily for long retracement

AUD trading in range

The lite blue shaded resistance or zone has been tested before we will see if price will once again reject and comes back down. We are in a range since October 2012. Looking to short below last Friday's low.

Good luck peeps!!!

Edited, Monday, March 25 at 7:19AM: Ouch!!!

The sell order was filled AUDCHF but price went up last night to once again test the previous resistance marked on the above chart. This action got me for -30

Lesson for the day

Be very careful with reversal trading its a tough cookie to play been trying for a while with mixed results. I think for me its expecting too much and not getting out as soon as I have profit.

Here's what usually happen to me as I have observed lately when the reversal happen the expectation begun to accelerate so instead of getting out early because its a temporary reversal I will hold thinking I can perhaps milk more. Because it does happen I have experienced that too but deep inside my psyche I also knew it does not happen most of the time the tendency is it will soon resume to its prevailing trend 80% most likely.

But as usual when I'm in the trade, the tendency to ignore the warning and feeling greedy will take over. The end result is me giving back the gains and counting my losses. This event does not happen to me always because I usually chide trading reversals. Its the challenge that attracts me but I'm not experience enough to handle such. Its a learning process that's all but it stinks in a way.

See you next time and good luck to you.