Live Trades Number 9 & 10 – ANALYSIS and RESULTS

Filed under: Live Trades |

I have two trades to tell you about from the trade alerts on Friday, both of which had our orders filled.

Live Trade Number 9 – GBP/AUD pair

 

Figure 1.

Our first trade was on the GBP/AUD forex currency pair. If you look at Figure 1, you will see the support/resistance levels on the daily chart. Price had been retracing back down to one of these levels, so I was on the lookout for any price action signals.

 

Figure 2.

If you now look at Figure 2, which is the 1-hour chart for the GBP/AUD pair, you will see that a nice bullish engulfing pattern emerged at this level. I set an order for a 50% retracement of this bullish candle, with a stop loss just below the low of the move and a target of two times our risk.

 

Figure 3.

Figure 3 shows that our order was filled, and price moved up very nicely and hit our target for a 2% rise on our bank.

Live Trade Number 10 – GBP/CAD pair

Figure 4.

Our tenth live trade was not such a satisfying conclusion. We entered on a 50% retracement of a pin bar at an area of support/resistance (see Figure 4). However,  the trade just did not come off. Sometimes this happens and we must take the losses as a part of the process of trading. So that is one good one, and one bad one to add to our results. Here they are:

 

Trade 1: Cancelled

Trade 2: -100.48

Trade 3: Cancelled

Trade 4: 199.59

Trade 5: 200.01

Trade 6: -99.46

Trade 7: 204.56

Trade 8: 201.31

Trade 9: 197.88

Trade 10: -99.70

Total Profit/Loss = +703.71 GBP

 

Still, not bad at all so far. That’s all I have for you today – and I’ll be back with any live trade alert as and when they happen throughout the day.

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