€ vs Yen has not worked out as planned, would close the position @ at a loss, if not already closed. I try to stick to "barclose near EMA34" - very subjective, as I admit. I then basically believe that a trend can occur that will move the underlying 3 x or more of the SL level into the profitzone. EMA34 = Exponential Moving Average 34 . If you have a hit ratio of only 40%, this is a winning system ! @padutrader : no one knows for sure, but the bullish scenario remains intact according to my analysis.
The short position in the SPX would have resulted in a loss ... but one would have openend a long position today as the market opened above the EMA34 with close proximity, at around 3,050 - SL at 3,025 , profittarget would be at least 3,125 . I'd now move the SL on this long position to breakeven.
The US$ vs CAD long scenario is gone - SL would have been triggered, I'm now a bear for pair and would go short, it currently trades at 1.3551 ! 3 setups in a row that did not work out as hoped, but I have to stick to my system. I'd now go short with the SL placed around 70 pips above entry (1.3621) , Profittarget around 1.32 . Hope it'll work out this time .
... on the afromentioned setup (USDCAD short), I'd choose a higher SL level - 1.3700, profittarget 1.31 .
I see a short setup now in Gold (GOLD on tradingview) - currently trades at around 1,763 . Would go short with an SL 40 points above entry, 120 points below entry profittarget, looks as if the gold price could push through some support right now. As with all trade ideas, would move the stop loss to breakeven if half the profittarget was reached, in this case move the SL to entry level if the price fell to around 1,700 .
Last setup for this week ... Sterling vs USD & CAD, I think the pound is now ready to move 200 pips higher, I would initiate a long position here (GBPUSD and / or GBPCAD), the SL I'd place 70 pips below entry. GBPUSD currently around 1.2498 .
This is a chart of Bitcoin, Warren Buffett had a devastating judgement on them, seeing them all eventually dropping to zero. This is how I interpret this chart of Bitcoin, I think it's a bearish setup and I'd go short, placing the SL at around 11,700 . The profittarget would be 3,600 , it'd result in a potential 3R trade . Currently trades at around 9,082 .
US$ vs JPY - a clear shortsignal, with a potentially good risk-reward ratio. I'd go short and place the stop loss around 40 pips above the entryprice (closed @ 107.49, trading will resume in a few hours). I see potential for a 160 pips downward move, thus it may be 4R setup. Profittarget would be at around 105.80 .