USD/JPY trade

I just entered into this trade based on same rules which I have defined for myself. You can refer to the pics for the reasons why I entered into this trade. SL was about 4% of capital but risk reward ratio is almost 1:1 so this was a risk I was willing to take.

Long USDJPY 95.22
SL: 94.87
TP: 95.46

I will review this trade later to see if any adjustments upwards need to be made for the TP, stay tuned.

SL was triggered, loss is 35 pips.

Its been a bad day but I will presrvere and try not to make hasty trades.

AUD/USD Long Trade

There was an opportunity to trade the AUD/USD pair last night. I entered the trade when the signals were all in place. The TP level was low because I found that the volume was relatively low, so a low TP was placed to limit the risk. SL was within 3% of my risk capital.

You can refer to the picture to understand why I entered into this trade.

The trade closed while I was still asleep and ended with a profit of 21 pips.

Cumulative P/L: 22 + 21 - 55 = -12 pips

August P/L: -43 + 21 -55 = -77 pips

I still have a EUR/USD short trade which is open. I look forward to closing it soon.

EUR/USD Short Trade

Don't know whether there's problem with my notebook or blogspot giving me problems, but I don't seem to be able to attach pictures now. Let me know if u know how to solve this problem. Pic will come after I the problem is solved.

There might be a breakout in the down trend for the EUR/USD pair according to the price chart based on my understanding (I might be wrong). MACD and Stochastic are pointing down and the charts are showing signs of a breakout. Will there be one? Current support provided by Forexyard is at 1.4320.

Short EUR/USD 1.4384
SL: 1.4434
TP: 1.4300

Update: SL was triggered, loss is 55 pips

EUR/JPY trade closed

SL was triggered.

Loss is 43 pips.

August P/L: -43 pips
Cumulative P/L: 65 - 43 = 22 pips

Trade Opportunities

I'm currently monitoring the above two pairs.

EUR/USD

The candlesticks are showing signs of an impending breakout. Whether is goes up or down will need to be further confirmed by the other indicators later on.

USD/JPY

This trade looks promising to go long but I'll wait for the Accelerator Ocsillator to turn green before I enter. Furthermore I still have a EUR/JPY trade open and I don't want to increase my risk.

Will come back with more updates later.

Open EUR/JPY Long Trade

Just started this trade.

Buy EUR/JPY @137.26

TP @ 138.09

SL @ 136.83

As the accelerator ocsillator show that there's still momentum to ride the trend, I went for it as the EMAs are still signalling BUY.

Going to bed now, let's see how the trade will turn out when I wake up.

New Week

We saw the USD weaken across several currency pairs as the market closed for the weekend. Right now as I read the price charts, there seem to be indecision from both the buyers and sellers.

I will watch from the sides for the time being until the buy or sell signals become more prominent, but it seems that there is an unknown force beckoning to go into a trade. I must stay discipline and keep within my rules for going into a trade and right now there are no signs for me to trade.

I'm looking at the hourly and 4 hourly charts of the GBP/USD and EUR/USD pairs and I think there might be a trade later tonight when the volume gets higher.