This week’s trades were based on the concepts to trade continuously throughout the week to maximize and profit from every traded pip. This requires longs and shorts or shorts then longs. CAD/CHF failed so far to achieve entry and GBP/CHF achieved a 79 pip profit yet trades below entry.
The Trades, Results and Strategies
Long 1.0780 and 1.0762 to target 1.0893. Must cross 1.0836 and 1.0854.
Lows 1.0784, Highs 1.0885
Entry perfect off only 4 pips
Trade Profit +101 pips and 1 trade.
2nd option Trade
From close 1.0834, short to 1.0780 for +50 pips
Then Long 1.0784 to target 1.0893 for +101 pips
Total +151 pips and 2 trades.
Slight problem to absolute perfection as entry off by 4 pips and target off by 8 pips.
20 currency pairs were also off balance this week by 20 pips to as much as 40 pips. For most weeks, markets are perfect to entries and targets. This means markets are trading perfectly and all prices are in perfect sync vs each other. But to see prices slight off is actually the best trading situation because the market then offers the easiest free money trades. Its market given freely.
Had target achieved perfectly then the 3rd option must be considered and found in the second leg of the trade as follows:
Long above 1.0911 to target 1.1002.
Failure at 1.0911 means reversal particularly when target achieved destination. This option wasn’t included in original trade instructions but its added for educational purposes. Next trades will fully demonstrate. Now we must factor a reversal point. See above for 1.0854 and 1.0836. EUR/USD traded today at 1.0830. Again market price off by 6 pips.
Assume target achieved perfectly at 1.0893 and failed at 1.0911. Profit on reversal is now 1.0893 minus 1.0836 or 57 pips. Quite possible to long again at 1.0836 for extra pips since we know how vital is 1.0836.
3 trades and 3 days are now running 208 pips.
Choices remain long above 1.0911 to target 1.1002. Then as posted Short 1.1002 to target 1.0929.
Next option is long again from 1.0780 or 1.0784 vicinity to target again 1.0893. The original trade.
Short 0.8778 and 0.8808 to target 0.8738.
Actual highs 0.8806, lows 0.8751.
Target failed so far at 0.8738 but trade ran +55 pips.
Long from close Sunday 0.8735 to 0.8806. For +71 pips.
Then short 0.8808 to target original trade target at 0.8738. Failed at 0.8751 still offered another 55 pips and total 2 trades for + 126 pips.
To the benefit of EUR/GBP is original entry at 0.8808 surpassed its point and traded to 0.8840’s. What a bonus and free money trade. But this trade to second round longs and shorts for profit is another how to demonstration for another day. Main point is 2nd round shorts are in progress.
All trades fully factored to trade continuous and maximize pips for profit. by pen, paper and calculator. And never a chart, graph, fib, market talk banter. And never a stop as trades begin at entry and end at target.
The lesson here is a price only cares about its destinations and nothing on the planet can stop a price path. Next is to bring home the point is no need as demonstrated to watch a screen or watch the market all week. And this is done by trading 18 currency pairs per week for years upon years of weekly trades.