There are a couple of these in the GBP pairs, this one is the cleanest of them all in my opinion. I'll be disciplined here and wait and watch for a reversal set-up off of the 38.2 in order to make my move.
A quick recap of the week's trades and missed opportunities.
USDJPY - 2.3% USDCHF - 1.88% NZDCAD - ? NZDJPY - ? EURUSD - ? EURCHF - ? EURCAD - ?
Nothing that stood at AUDUSD and AUDJPY made the watchlist for the week but I don't plan on trading them.
Trending pretty nicely but no "easy" entries. Will watch and consider getting in (CADCHF) on a 61.8 Fib play.
Beautiful patterns on this pair, getting the entry I want is going to be a matter of chart time and patience. Really not as suited for a "trap" entry but still has potential for some pretty effortless trades.
Probably the cleanest set-ups for the week with longer-term potential. Watching EURUSD, EURCHF, and EURCAD really closely.
Lots of movement, not very clear on trend or possible entry for me. I'm sitting out on these pairs as a whole. GBPAUD is interesting and I'll be watching it to form a pattern that I might be able to trade soonish.
Not much to take action on, wait and watch for a possible entry on the the NZDCAD imo.
Looking for quick 1:1 trades this week from USD base pairs. I think there are opportunities for this but don't see anything long-term that I want to trade at this point.
Big bearish move has us at the bottom of a Key Level range but not quite breaking it. I'm going to need to wait and watch this one for a bit longer as we consider closing this down due to it stagnating, or actually leaving it alone as it creeps toward profit target. Either way, price action is shaping up to not behave in step with the strategy. That means it...
We did it again, frictionless autopilot trade on USDCHF. This one was outside of the PRS framework but we still used the principles that hold true to get in and out of this trade with no maintenance of the position at all. I love this, I'm slowly learning to make most of my trades enter and exit in this manner.
The move happened, we just weren't on the wave.
Another set-up similar to USDCHF, this one involved the 50% fib level as support after being proven as a viable level in the recent past for the intraday charts.
Wanted to make a video to accompany the screenshot.
I love the level we are at on the Daily charts. Upon further inspection I'm considering getting in early for a breakout trade rather than waiting for a pullback entry like I typically would want.
I love trading the PRS but the momentum might be completely gone at this point. I preach about not being in this phase of uncertainty with positions. I try to avoid this at all costs. Trading is indeed mental my friends.
I'm learning to accept these harder weeks as the better opportunities for me to become a great trader. Of course I love it when every position I take jumps out at me and earns me a profit, but I remember a point when I would avoid the charts entirely after a string of either losses or missed opportunities. It's so important to continue to trade with an unbiased...