Trading the Aggressive Initiation Setup

EUR/USD 1.1813 LONG

This trade was based on setup n.2 from my Market Profile webinar (aggressive initiation setup). My long level was placed at the highest peak of volume cluster you can see on the daily profile on the left side of the picture. I took this trade with a limit order in the beginning of the EU session resulting in nice and easy +10 pips profit.

EUR/USD 1.1790 LONG

This trade was also based on setup n.2. Also exactly at the highest peak of a volume cluster. Even though there was pretty strong counter move I felt quite optimistic about this trade (I really liked this level). Also the strong move wasn’t related to any significant news so I had no problem taking the trade. Reaction was almost as fast as the countermove. I took pretty fast +10 pips profit there.

AUD/USD 0.7982 LONG

Reaction to this level was unfortunately only 8 pips so I wasn’t able to take a full profit and instead took -2 pip loss. I secured my position by moving my SL below reaction as soon as the price moved little bit over +7 pips in my favor.

AUD/USD 0.8001 SHORT

I really liked this level based on my 1st trading setup (the volume cumulation setup). However, the price didn’t quite reach this level and turned sooner. Reaction was really strong so I discarded that level. I won’t be trading it anymore.

USD/JPY 110.54 SHORT

Unfortunately this level got tested 1 pip sooner (1st test). I discarded the level afterwards and I didn’t take the 2nd test. If I did it would be a profit.

Summary

Even though I missed 2 trades (aud and jpy) and took -2 SL at the 1st aud level I managed to take +18 pips profit today which I am pretty happy about. Another good day at the office 🙂

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Happy trading!

-Dale

 

 

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