(1st time : SL -90 2nd time : tp 60 2X pos size)week31 NZDSGD D1 shooting star with the trend |A-Grade| setup

the trend for NZDSGD has been severely downtrend for several months.

Last thursday a shooting star was printed, which flush several days high as well. This shooting star was printed against a 52weeks level as well, making this an A trade signal.

Entry plan and Sl will be as shown.

week31 nzdsgd d1 shooting star trapped traders 250715

edited 010815
I was stoped out of the 1st trade. It was disaappointing as I had placed a larger than usual position size, and I was stopped about 8 pips away from the highest point. On retrospect I could have placed my SL above all 52weeks level, a key component for my trading methodology, but I did not.

week31 NZDSGD D1 sl gif 290715


however what was memorable was that after getting flushed out and dejected, I continued to look out for signs of 2nd entry. I spotted a double h4 trapped traders engulfing pattern. I thought several things
were aligned which could mean a high probability signal which could guarantee moveability , of at least 60-70 pips.
It looked something like this:

week31 NZDSGD h4 trapped traders 310715

I took profit on a 2 x big pos and managed to cover back the losses from the 1st losing trade.
I am heartened to see the effectiveness of trapped traders phenomenon and how I cna use it to hit on immediate price movement.

week31 NZDSGD h4 tp big pos after h4 trapped traders 010815


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s