Recent content by pdr

  • Thanks for visiting!

    Welcome to the inside of my trading brain. I built this forum so that I could jot down my thoughts as I take trades, as well as being able to add follow-ups for further analysis.

    Feel free to post your own thoughts or comments, I just ask that you keep it real and friendly at all times, cheers!
  1. pdr

    NZDUSD Daily Long 23-03-2018

    After just closing a NZDCAD short for +200 pips (based on an anticipated rally in NZDCAD), I thought it worthwhile to take a long NZDUSD. As per the chart below, I anticipate a bounce off of the 'Floor Layer 1' looking for a R:R of 1:2.
  2. pdr

    NZDCAD Daily Sell 14.03.18

    Trade Update: Closed for +200 pips Looking at the chart below you can see my speculation. I believe that NZDCAD may rally here to around 65.5 on the RSI, and then reverse sharply. So took profits anticipating this move.
  3. pdr

    AUDCHF Daily Sell 15.03.18

    Trade Update: Closed trade +143 pips Decided to take the money and run. My assumption was based off of a very close call with my original Take Profit (TP) target that almost hit, as well as a touch of the rising bullish trendline (yet to be proven but I like profits and banking money so staying...
  4. pdr

    EURAUD Daily Sell 21-03-18

    I took a sell on the EURAUD Daily chart. Speculating that the bull run may be nearing its end (speculating - some would call that paramount to gambling!). I saw Negative RSI Divergence so took a risk, looking for minimum R:R of 1:2 (chart below).
  5. pdr

    EURNZD Daily Buy 15 March 2018

    Trade Update: and a little bit later in the evening the TP got hit, almost to the pip exactly. Looking at the TradingView chart below, it appears TP was not hit, but the next image shows my broker chart with the TP hit. Broker chart with TP hit (below) I will still hold my observational TP...
  6. pdr

    NZDCAD Daily Sell 14.03.18

    Trade Update: trade has rejected the highs again, Negative RSI Divergence seems to be holding, no changes to the trade at this time.
  7. pdr

    EURNZD Daily Buy 15 March 2018

    Trade update: approaching TP level, will leave the trade alone and see how it plays out :)
  8. pdr

    NZDCAD Daily Sell 14.03.18

    I took a short on NZDCAD on Thursday. I noticed some negative RSI Divergence on the chart. Though this could be coiling to push higher I felt it was worth the risk. Initial R:R of 1:2 as usual. Observing the 3 floors of RSI Resistance. This is something I plan to cover in a more in-depth...
  9. pdr

    AUDCHF Daily Sell 15.03.18

    Took this short trade on Friday. Very noticeable entry based off of Bearish RSI TL followed by a 61.8 Retrace with an additional 'M' Shape as confirmation. Looking for a R:R of 1:2 essentially doubling my reward for the amount risked.
  10. pdr

    EURNZD Daily Buy 15 March 2018

    Today marks the start of displaying TradingView Charts as opposed to MetaTrader4 Charts. Because the greater majority of my trading is done exclusively on Daily Charts by definition this makes me a Swing Trader (someone that takes trades and holds them for a day to a few days. When I grow up I...
  11. pdr

    NZDCAD Daily Long Entry

    Quick Update: Sorry about the quilted chart. I forgot to take a snapshot at/near the close of the trade so I have had to patchwork this one up, albeit in a very amateurish way! :cry: The positive on this trade is that it eventually (with patience) hit its intended Take Profit (TP). Takeaway...
  12. pdr

    NZDUSD Daily Long

    Today I'd like to introduce a few new concepts to my trading strategies. Also, there will be a simplification of the RSI levels used on the charts moving forwards. For an explanation of RSI Levels and how to set it up on your charts head here. The first new concept is that of 'The Floor' in RSI...
  13. pdr

    NZDUSD Daily Short

    Quick update on this trade: One of the things I tend to struggle with from time to time is the news. Do I pay attention to the news, or do I ignore the news in favour of spending less time in front of the charts? I'm pretty sure the average trader will tell you to watch out for news. And if...
  14. pdr

    AUDNZD Daily Sell

    Here's a trade that got triggered on Tuesday 23 of Jan 2018 as per the chart below. Looking at the plain chart above probably doesn't tell you much, so let me explain by drawing some lines on the chart (below). What I was looking at here was a continuation to the downside following...
  15. pdr

    USDCAD Daily Long Entry

    Trade Update: Trade closed at Stop Loss. As you can see from comparing this chart and the previous chart, there was a major indecision candle, price rallied a little, then fell away taking the trade out at it's predefined stop loss (SL). The prior assumption of bearish compression rang true...