EURUSD
It was 9 for 9 today, on fading the pre-Franky. Pre was a weak bullish close.
I've closed my sell for around +12 pips. I was adding to it as it was going down, but I closed it too early in hindsight, even though I did know that I should wait for the 15M to close.
But to be really honest, I was not very confident that it will break below 50s. The overnight range lows was 40s, but the Asian trend was up, the DPP was also in 50s.
It was 9 for 9 today, on fading the pre-Franky. Pre was a weak bullish close.
I've closed my sell for around +12 pips. I was adding to it as it was going down, but I closed it too early in hindsight, even though I did know that I should wait for the 15M to close.
But to be really honest, I was not very confident that it will break below 50s. The overnight range lows was 40s, but the Asian trend was up, the DPP was also in 50s.
Yeah.
No explaining required. franky faded the Pre and fell over 40 pips.
The first 30M traded in the direction of the pre-today. Pre looked bullish, so I was long, but I've closed it for just around 10 pips, 10M was not able to break the high, so it looked weak.
But it could still be 10 for 10, if Franky fade the pre. Second 30 fading the first.
The day looks really tricky, it has not broken below first 10M low of 82. it could still follow in the direction of the Asian i.e. go lower. Or just range here.
I'm done, I'll advice caution here.
It was (still is) a tricky day today as well. Franky opened below the yesterday's London range. And there are so many options barriers in this 20-30 pips range.
a. I was long on the first 10M based on the pre-Franky. I was stopped out on this for -7 on average. The stop could have been smaller, just below 76, but it was at 74.
b. The second trade was half size, and I added to it. It was based on the false break of the first 10M low, coming off of the pre-defined low.
I'm up about 9 pips for the day. But the whole week has been tricky. Franky is opening ambiguously. Right now it is trading above the first 10M high, so it could go up, as long as that first 10M low holds.
I'm done for the day.
I'm down 4 pips on the day.
I was short on Franky, and it went for 20+ pips, but I did not close it at the pre-Franky low. I thought it should go till 64.
I have been stopped out on that trade for a minor loss as I was adding to it. It was a good trade, but in hindsight a bad decision to run it even after the break of 96 high (also Bullish engulfing on the 5M). Should have gotten out there.
I'm up small for the day. But I did not trade well today.
a. My first trade today was a pre-emptive sell at the first 10M of the Franky. I was looking to fade the Asian move. So, it was a pre-emptive sell, that it will be a fake on the overnight range.
But I was stopped out very early on this trade, for a bigger loss than I was willing to take. The trade was pretty much done on break of 1320.
b. The other trade was on smaller lot size, pure discretion on the range low. I was looking to target 1364, but decided to close it before that, because it was outside my hours.
In the statement screenshot, I've excluded the smaller trades that I had added to my position.
It has been a profitable week, but Thursday & Friday have not been great. On Thursday, I was trying to push the winner, but was stopped out after showing 20+ pips. And today, I was stopped out very quickly on my first trade (trade itself was okay, but the execution & taking a bigger loss was not).
The week has broken the 1270 high yesterday. Tuesday closed at 1280, above the last weekly high.
But the higher move today is during Asian. In many cases, on such days of Asian trend above a week high/low, London or NY have the tendency to reverse the Asian move. So, it is totally possible that the day ends negative, if London or NY reverses it.
But as long as 1270s holds above, it looks bullish. Also, the Franky low is holding for now. Attached is the weekly chart.
The 1322 Franky low is still holding as support. A break lower opens up the Asian low of 1280.
But any push down below 22 is being pushed back up.
Took EUR long today.
By mistake set wrong sl and got hit on the first try but had to enter at same price after an unnecessary loss unfortunately.
Took EUR long today.
By mistake set wrong sl and got hit on the first try but had to enter at same price after an unnecessary loss unfortunately.
I took the same trade today during Franky but the yellow circle was my trigger to go long. I exited the trade too early, as a matter of fact i exited the trade and the close of Franky only for price to keep rising. I was kind of disappointed that price kept ranging in one area all through out Franky so i exited after franky. But i realize i should have held the trade open especially as they were option orders at 700 which acted as a magnet drawing price upward at the start of London
I took a long during the pre. I'm out now for +11. I've closed the full position.
The Asian was coming off of the Friday's low, and the nearest options barrier is at 1640 today. And DMR1 at 48. I was long based on that with a small SL below 27 (pre-low).
My -3.8 pips SL was hit on one trade.
I'm down about -12 pips on the day. Franky & London had no follow through & small SLs were hit. My biggest SL hit was on pre Long -6 pips.
Pre Franky has been setting highs & lows of the day in last few weeks. I was expecting follow through after first 5M of pre.
Most trades went 5-6 pips in my direction by there is no follow through outside of the pre high & low. I did not follow my rule to not diddle in the middle of the overnight range. But the loss limit is hit, so I'm done for the day.
I'm short at 17343, stop at 17394 (above the pre high).
Stopped Out. Based on the sentiment, I was expecting break of Asian low, but it is holding.
Stopped Out. Based on the sentiment, I was expecting break of Asian low, but it is holding.
I'm long & I'll be adding if it follows through. Stop below Franky low.
DMR1 is at 54.
I'm long & I'll be adding if it follows through. Stop below Franky low.
DMR1 is at 54.
DMR1 hit, I'm out at 51. I'm done for the day.
DMR1 hit, I'm out at 51. I'm done for the day.
Good morning please what is the meaning of DMR?
Good morning please what is the meaning of DMR?
DMR1 is the middle of the R1 & PP (Pivot Point). Use the London 00 hour for the PP. DMR1 today is at around 1753.
Similarly, you have DMS1. DMR1 & DMS1 work on EURUSD, and these can reverse the trend or stall it.