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Tag Archives: long
Paper trade: Long CADJPY @ 86.88, Stop 86.10, Target 88.0
I entered CADJPY long at market for 86.88 just now. This is a continuation of my previous USDCAD short position. However, USDJPY is on a run upward so I’m switching to go long on the loonie with yen instead. Figure 1 shows the daily chart of CADJPY. Notice the imminent MACD bullish crossover and the [...]
Paper trade: GBPJPY @ 145.24, Stop 144.70, Target 148
Update: I’ve switched over to long EURJPY @ 125.40 as EURGBP’s downtrend seem to be running out of steam. Moreover, EURJPY looks better on the daily chart with a clear support and an oversold reading. I’m back in my long GBPJPY play at 145.24. The currency pair is breaking an hourly resistance since consolidating around [...]
Paper trade: Closed GBPJPY @ 146.42 for +140 pips
Just closed my GBPJPY long at 146.42 for around +140 pips average gain, or 0.4% in the account balance. Damn good for a 24 hours holding. Obama just finished his State of The Union address at the moment. I am not impressed. Still all talk of change but nothing concrete yet. Anyway, that’s beside the [...]
Paper Trade: Long GBPJPY @ 144.24, Stop 143.60, Target 148
My previous short-side setup on GBP/JPY played out beautifully. Yet I wasn’t able to ride it down because I got stopped out on a stop-hunt counter-move before the dive, see Fig. 1. Now that GBP/JPY has reached its other end. I am betting for it to go reverse with a long position. I expect this [...]
EUR/USD +95 pips in 2 hours: An example of swing and day trade convergence
I had my best day-trading day this quarter on November 27. I made 95 pips in two hours at the open with only two trades. This post is a review of my trades that day for my future reference. To save you and myself from reading, the two reasons for this good run are: Click [...]
Posted in Major Pairs, Self Assessment, Trading Signal Also tagged day trading, entry, EUR, exit, good trade, paper trade, USD Leave a comment
Paper trade: Long AUD/JPY @ 81.22, SL 80.99, TP 82.50
Several major pairs are testing their support on this market correction with a 20 points drop in the S&P500 before 10 am. This is a short term capitulation scenario. From looking at the major pairs, the long term trend still seem to be intact. In particular, I am interested in shorting Yen because I’m seeing [...]
Paper trade: Long USD/CHF @ 1.0122, SL 1.0060, TP 1.0225
Seeing that this is my first commitment after the big drawdown, I’ll bring back my tradition of writing a post to log my rationale and market conditions on this entry for later review. I sifted through the weekly charts of all pairs on my watch-list tonight and found that USD/CHF long is the most promising. [...]
My name is Paul and I am a full-time engineer, part-time trader. Back in 2000, I deposited my $5000 interest-free student loan with an online broker. Since then, my interest in trading has become an obsession.
Paper trade: Closed all CADJPY long @ 88.40 for +152 pips