175 PIP TRADING GAIN ON GBP CAD PUSHES RETURN TO 38%
After a long break that I took to fine-tune my Methodology, I´m now back with you to give you my analysis, videos and best of all Great Trade Results!
The latest trade provided a 175 Pip gain on the GBP CAD as part of a recent decline. With this latest trade, the Strategy has recovered to be up 38% for the year, following a flat performance in the summer.
This decline on the GBP CAD was taking place within a Range Setup that was being formed on the Daily Chart.
A pair of Double Tops and a break of the Uptrend Line were the signals indicating the start of the Bearish Move. I then waited until the 4H Chart provided a Setup & Signal to take advantage of the expected downtrend.
Since these were deemed strong enough, I decided to trade it. I placed my Stop Loss above the high of the U-Turn and targeted an area where I believed it would head towards before pulling back- how did I know it would pullback there? (Trade Secret)
Below is the Video Analysis of the Trade Setup.
As you have seen in this video, the main elements of the trade were;
- Identifying The Candlestick Patterns that Form Consolidations
-Trading these Waves with Strong Setups And Signals
- Double Top Signals
- Breaks of Uptrend Lines
- U-Turn Signals & Counter Trend Line Breaks
I believed that the trade would have taken 5 Days to hit its target but after only 2 days, the target was hit..
The main thing about this trade was that I exited just ahead of the start of a sharp pullback that would last 3 days. This would have easily taken out/threatened the Stop Loss had I not exited at that area...
Not only did this confirm the accuracy of the Exit Strategy but it also showed that it was in sync with the Strategies of the major Currency Traders around the world.
So being able to identify when Consolidations are being formed with certain types of Candles allows you to be able to take advantage of these waves. Once we see these signs and can spot the strong Daily and 4H Signals that start these moves, strong trading gains are possible.
MAIN ELEMENTS OF TRADE
- Spotting & Trading Waves that Form Consolidations
- Trading Strong Daily & 4 Hour Chart Signals
- Appropriately Setting Trading Targets to Avoid Pullbacks
- Being Disciplined to Hold Trades over Several Days
Did you trade this move as well?
Questions, comments welcomed
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(M.Sc. Economics, B.Sc. Management and Economics)