31.8.2017: 5 winners, 0 losers!!! What a day!

What a day today! Really busy and happily all trades ended in a profit. That’s what I call a successful day! Well, every day when you stick to your rules is successful day, so lets call this EXTRA successful day, alright? Lets have look at the trades:

EUR/USD 1.1874 LONG

I took this trade with a limit order because it got hit during asian session when I usually sleep. If I were at the computer I would secure my position very soon after my entry and I would end up with -2 pips but luckily I was in the land of dreams and as you probably know I trade the asian sessions with limit orders without any position management. For that reason this trade was pretty easy for me. When I came to the computer in the morning I just saw pretty strong rejection of lower prices (which is pretty good when you are in a long position). So I just secured my position below the current low of the reaction and took a full +10 pips profit within a few minutes. Good start of the day 🙂

Here is a screenshot from my platform (1 minute chart):

EUR/USD 1.1889 SHORT

This level was based on the 1st setup (volume cumulation setup) from my Market Profile Webinar. The counter move was pretty rapid and also my short level on AUD/USD got hit at the same time so it was a bit scary. I was trying to find some significant news behind this strong buying activity that went against my levels but I couldn’t find anything so I entered them both with full positions. I had pretty quick +10 pips profit on the EUR/USD short.

AUD/USD 0.7878 LONG

This level got hit before Unemployment Claims news. This news is marked as “red” (significant) at Forex Factory but I am not sure why because this news usually doesn’t have any impact on the USD whatsoever. For that reason I didn’t quit my position before this particular news and held it even during the news release. Quite surprisingly the market started to move rapidly in the time of the release. In my opinion this volatility was caused by Canadian GDP news (released in the same time) and not the Unemployment Claims news. AUD and CAD have sometimes quite high correlation so this is the reason I think this reaction was more likely caused by the CAD news. Anyways, because of this I was able to get a quick +10 pips profit there.

AUD/USD 0.7932 SHORT

This level got hit in the same time as the EUR/USD short from 1.1889. If you look in the chart you can see that this level was more or less the only price reversal during the US session buying activity on the AUD/USD. Another +10 pips profit for me 🙂

USD/CAD 1.2654 SHORT

This level got “tested” few pips sooner during the asian session when I was asleep. It got properly tested later and I got in the position with a limit order. When I came to the computer in the morning there was a nice rejection of higher prices and for that reason I let the trade run. It ended with full +10 pips profit.

Here is a screenshot from my platform (1 minute timeframe):

USD/CAD 1.2559 LONG

This level got hit around 25 minutes after Canadian GDP m/m release. If you look at the chart you can see that the reaction was really strong and the price was just constantly pushed down. For that reason I decided to be careful and not to enter this trade. Going against strong move which is news driven is always VERY risky. If I took it with a simple limit order it would be a profit. If managed the position I would end up with around -4 pips loss. However, I didn’t take that trade at all.

SUMMARY

Today was a very good day. 5/5 trades were winners so I got +50 pips profit with just intraday trades! Here is a screenshot from my cTrader trading platform with all the trades I took today:

BONUS

I have a little gift for you guys. Here is today’s Daily levels commentary video that I make for members of my Pro Forex Course every day. In this video you can see the reasoning behind each trade I took or that I am going to take. Enjoy 🙂

PS. If you would like to trade with me every day, you are very welcome to join me here: Dale’s Pro Forex Course

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