(short in progress) week10 GBPCAD D1 super pivot A-Grade setup

D1

A superpivot trappedtrader signal was fired off last night which happened to appear at a resistance confluence of
trendline and psychological resistance.

week10 g6pcad d1 super pivot 100316

h4

Week to week, there is a clear bearish trend with consecutive lower high weeks. As of yesterday, the print of a super pivot signal validates the resistance of the confluence zone, which is in tandem with a bear flag continuation pattern. This becomes an A Trade setup.

week10 GBPCAD h4 week to week downtrend with bearflag 100316

Advertisements

(trade in progress) week4 GBPCAD h4 bearish trappedtraders validates resistance confluence

D1

A very nice resistance trendline connects several pivot points together.

week4 GBPCAD D1 resistance trendline 260116

h4

IN h4, the trend seems to have changed with recent flat highs being flushed, forming a bulltrap phenomenon.

Looking into recent day to day trend, the h4 bearish trappedtraders signal has dual purpose:

1) validating the resistance confluence
2. allows a chance to rejoin the bearish path of least resistance.

week4 gbpcad h4 bearish trappedtraders 260116

 

updated 300116

subsequent downmove from h4 trappedtraders

 

 

 

( trade in progress) week46 Gbpcad D1 shooting star at resistance

A trendline resistance was drawn few weeks ago.

D1
week46 GBPCAD D1 resistance confluence 171115

However price hovered at the top for several days, without moving. Short positions were initiated & otm for 2 weeks. It was not until yesterday that a trappedtrader signal was printed, signalling a potential top and ready for price to move down.

week47 g6pcad d1 trappedtraders 241115

edited 271115

profit taken by end of the night , within 24 hours, at 2.0000

 

 

 

( did not tp n B.E) week22 GBPCAD with trend bullflag “A Grade” trade

Did a good trade although the entry could have been better. Position size wise was not big as followed rules to manage $$ risk.

H4

In this setup the 5 week trend was a strong consideration as week to week it was up.
I looked into the h1 for a lower timeframe bullflag.
The bottom was flattish and did not suggest of a wash n rinse, hence that was a reason for me to reduce my position size.
However , what gave the conviction was that

1) Price bounced thrice form a round number support of 1.9000.
2) This formed a double bottom of sorts with macd divergence.
3) this level also confluenced nice with 2007 52weeks low.

As the overall d2d momentum was good, I entered 1 position on break of bullflag trendline.

week22 GBPCAD h1 1234 h4t with macd divergence 260515

2705015

a bullish day expansion was registered. I shifted to breakeven and have set the TP to ~1.92.

week22 GBPCAD h1 1234 bullish expansion day 270515

updated 300515

this was a good entry with good setup. Unfortunately I did not earn eventually as price hit BE and I did not tp earlier on.

week22 GBPCAD h1 1234 good entry poor exit BE 300515

( +167) week19 GBPCAD h4t with wr2b bearflag from Resistance confluence A trade

week19 G6pcad h4t wr26 040515

Shorted this when I saw the familiar  Resistance tripartite of 2014 low , channel confluence , together with f6.
There was a WR2B which validated a beartrap. And this reversal pivot was even more meaningfully formed with

a yellow purple expansion combination, which suggests the strength of the resistance.

h4, D+1

price plunged straight for monday and now at neckline. Which presents the next decision to take some or leave to ride for more.

week19 GBPCAD h4 suspected neckline 050515

outcome 090515

week19 GBPCAD h4 nailed the exit level correctly 090515

Indeed price did a drastic turn at the identified partial tp area. I did well to secure the profits.

(-210) week11 wrongful trade and bad habits that I need to get rid of GBPCAD

h1

I need to kick out this bad habit of preempt a right shoulder and random entry to play towards the right shoulder, when there is absolutely no obligation for the right shoulder to be nicely formed.

Eventually price completed a multiday day bulltrap and a bearflag as well, flushing out my longs.

THis is the type of bad setup, bad entry and bad trade that I should not be repeating in the future.

week11 GBPCAD -200 wrongful preempt of Right Shoulder 150315