Everything is going down at the moment, which makes you wonder what is going up because something must be. The Yen seems strong and, strangely, GBP is doing Ok against US$.
Attempt 2. It could go higher than my TP. However, i’m risking 5 for 27 here.
Edit: Stop at b/e and i’m halfway there.
Thank May and the EU. 
Called it here. It may be premature, but the uptrend just changed and I think we are in for a bit of a retracement. It’s not my target, but I will take it.
Today is a momentous day for me. I broke even!
Back in mid-September I loaded my SB account with a small sum to overcome the ESMA restrictions. Over the next month, after a small profit, I managed to drop 25% of it.
So with a determination that might well be described as foolish, and with some thought straightening from my friends @Leatherneck and @StuFX, I soldiered on.
Today I recovered my stake, for the first time in my trading career my ‘funds’ are back to what I deposited.
There is just one fly in the ointment. I still have an under-water UJ position to dig-out. However with Brexit seemingly helping here I should be back to snorkel depth before the NFP next week.
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Funny that you say that, I have not made one single trade this year yet! I am waiting and will be looking at things on Monday, and the NFP is one I am carefully watching.
I have been mainly scalping, which in my case means trades open for less than an hour.
However I have held this UJ position for 2 weeks, enjoyed a substantial earn on the carry, and closed half at 1am this morning whilst I was asleep.
There is about an hour and a half until the wolves come out, typically after 5pm GMT
Interesting!
I am contemplating going back to a daily trade set-up rather than the weekly Monthly that I am accustomed to. I think we are in a “Wolf” Market right now, but I want to wait and see next week how things are shaping up!
The fundamental truth about all this is that you must trade the time-frame with which you are entirely comfortable and/or happy. So I would say that if your experience is all with 4hr and longer then you should stay there.
The added benefit to trading 4hr or day time-frame is that you don’t have to stick your face into the screen for much of the day. Conversely with scalping you only need to stick your face into the screen for the hours you wish to trade.
A scalper will (should) always consult the longer time-frames because they contain trend information that is more difficult to see on a 1-minute, 2-minute (my favourite) or 5-minute chart.
No I am well aware of the advice you are giving, I am seasoned trader, so just I implement different strategies for different trend periods. I have traded the daily a lot before and I am looking to do so again if the environment is ripe for it.
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We both missed an amazing opportunity on 3rd January.
I can’t remember what I was doing on that day, possibly looking in disbelief…
On that day UsdJpy dived below 105, and then came back…
Interesting formation. Is this a H&S still.
Breaking it down to the 4 hr, we see a really nice descending wedge indicating we may see a pop to the upside this week.
The above chart also shows how I had it diagramed first of the week (white line). The lower time frames showed a possible breakout. I suck at breakouts so didn’t bite. Not attempting any longer trades as my records show a great part of my profit is made between 3 and 9.9 pips.
Yes, I wasn’t sure what to make of this. Ignoring the H&S for a moment I still have a down-channel with a puncture wound on 20th.
Still getting sick PMI figures from Europe so the €uro is under pressure at the moment.
Price came back into the channel. Interestingly both EU and UJ gapped-up on the open yesterday. I think we should watch for a while and see what happens.
Further to the above, and right on cue, my final UJ trade closed this morning (GMT) hitting its TP. So now I have a (small) profit on my account, and no open positions.
…no trades, just sitting quietly and waiting for the NFP.
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For a while I thought the data had leaked … there was a dribble-down on UJ and a dribble-up on EU.
Then the data was published, more jobs created than expected … slightly soured by almost zero rise in average hourly earnings.
Just watching now. Won a few pips but I am still trying to make sense of the chart.
It’s very quiet in here these days.
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It has never really got off the ground mate, although the post to views ratio does suggest there are lurkers.
On a personal level I’m hamstrung slightly now on what I can post in terms of levels in advance of them happening.
Anyway hope you are making headway SM 
Thank you mate. Please post what you can, you are credit to the thread.
I was doing amazingly for a while, until I wasn’t…
I need to learn how to focus on the market environment and adjust my trades to it instead of using a one size fits all approach. It is a frustrating journey.
Rule #1 (of many) only trade during high-liquidity sessions, unless you are trading long time frames and then it is all about picking targets and entry points.
Rule #2 every obvious level will eventually fail, therefore bet against them by picking entry points and trade in the direction that will be profitable when the level fails. Entry points are typically also obvious, they are the peaks of the rebounds although being accurate is less relevant than knowing that a rebound has exhausted and another attack of the level is underway.
That ratio is indeed interesting