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Reply With QuoteUSDCAD Trade Update. Instead of taking target 1 off at the spike low I took it off at the structure. Now stops have been rolled to break even and I'm waiting for target 2.
Here is a pdf of my ABCD pattern rules of engagement. I hope it will suffice.Originally Posted by kor4x
USDCAD Trade Update. Instead of taking target 1 off at the spike low I took it off at the structure. Now stops have been rolled to break even and I'm waiting for target 2.
Bullish ABCD pattern on EURAUD.....I didn't enter at 1.27 because I just now identified it. I'm getting a better entry so oh well:
Trade Update EURGBP ABCD pattern. I'm thinking this one is going to fail based on how long its taking so I rolled stops to breakeven and am now wait to see what happens.
Trade Update.
EURAUD ABCD pattern - Stopped out
EURGBP ABCD pattern - Break even
CHFJPY Bat Pattern - Stopped out
USDCAD Ratio Trade - Still trailing stops. Locked in a guaranteed 52 pips on the second position.
Sorry I just wanted to do a quick update. I didn't feel like posting the pics. See you Monday traders.
Last edited by Luzonxzy; 07-21-2012 at 09:38 PM.
ABCD pattern on AUDUSD:
Trade Update. USDCAD ratio trade. Second Position stopped out for 52 pips in profit. Not posting to much this week but I'll try to post a few more before the week is up.
Hi luz, i really like your trading style!! i've downloaded the pdf and i'm trying to backtest it, so far the 1.27 level seems very good when it comes to reversal... My question is, very often (for what i've seen so far) it' seems to me that the R:R isnt very good, i mean, from 1.27 to 1.65 the stop loss is very large... and many times the profit from 1.27 to B (the first TP) isnt as much as the SL... so every time the stop loss get it you lose 2 positions and not always you can get the 2 TP... I'm pretty scared by this... Also you said that your only filter is the currencies that you trade... Could you list them? THX
Trade Update for AUDUSD. Target 1 obtained and stops have been rolled to breakeven. If I get target 2 it will be a real nice trade:
@Kidrock82 Yeah the R:R is pretty rough but when you do hit that target 2 it more then pays for 2 loses so you have to take that into account. Oh and I won't tell you which pairs I trade. I have to let you do a little of the work. But when you do find them you'll have the confidence to trade the system.
Last edited by Luzonxzy; 07-25-2012 at 04:15 PM.
Trade Update for AUDUSD ABCD pattern. Target 2 obtained for 148 pips......Not a bad trade.
Don't think I forgot about this journal....well actually I did lol. Anyway
GBPCAD ABCD pattern:
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