USDJPY I'm going to continue playing the channels on the UJ, shorting high and getting in long when the price is low. Shorts @ 121 flat and 121.25 and longs only with confirmation on lower time frames at key levels such as 120.25. image USDCAD I ...

Mike's EURUSD Trading Room

Getting my levels sorted out for today's trading. AUDUSD The RBA held rates steady today and the Aussie has tanked considerably in the hours since. Looking at a long position from 0.7025 with 61.8 fib confluence. Failing that, 0.6975 with the 50 fib ...

Mike's EURUSD Trading Room

I'll definitely second T34's words here... a sample size of 4 weeks is nowhere near enough to properly assess a trader's long-run profitability but those statistics are absolutely exceptional. I had to look twice at that stats screenshot to make ...

Realistic Monthly Trading Profit?

It's really good to recognise when you're best off being an observer and not an active market participant. It takes a lot of self-control too! I closed that short position for an 8.5 pip gain. My winrate at the moment is around 65%, so closing for ...

Mike's EURUSD Trading Room

I'm in short on the GBPUSD at the moment... really in struggle town though as the price is consistently being knocked back up. Sticking to my guns with the 10 pip stop for 25 pip target. My stop is sitting pretty just beyond the 38% fib level from ...

Mike's EURUSD Trading Room

USDJPY Also considering a short on the USDJPY. Looking to play some of these trendlines alongside round levels down to the main ascending channel from prior to last Friday's BoJ decision. Mike

Mike's EURUSD Trading Room

GBPUSD There's a definite possibility for some trades on the Cable today. UK PMI data is coming out in 50 minutes which may help the price to a level I can fade... having said that its sitting right in the middle of a prevailing channel. I don't ...

Mike's EURUSD Trading Room

That's a wrap for January. I finished the month at +11.89%, pretty happy with that result. Now onto February I'll keep posting technical set-up ideas as I see them. The USDCAD definitely has some short options at key levels on its way up ...

Mike's EURUSD Trading Room

Trading from a phone is not something I've ever succeeded at, I've got to be completely in the zone or else I fail miserably I'm just going to leave this here... (50% fib @ .50 round level with ADX > 40 and price action confirmation) image ...

Mike's EURUSD Trading Room

Ok so the GDP data has come through as mildly bearish for the USD, and relatively good/as expected for the CAD. My first reaction is to look for a short position on the USD as the market has actually moved the opposite direction on many pairs ...

Mike's EURUSD Trading Room

Ended up pulling the trigger on a GBPUSD long scalp, took +5.8 pips on the first one. The EURUSD had been making a reasonable move up (seemed reasonable that the GU would follow at least a small amount) and I'd say there's a fair chance the price ...

Mike's EURUSD Trading Room

Great pick on the EU swatti. I've not had much time to trade in the last couple of days unfortunately, back down to business tonight however I'm keeping an eye on the GBPUSD at present, there would've been a nice entry a couple of hours ago using ...

Mike's EURUSD Trading Room

Late start for me today. Swatti I hope you were able to hold that one, looks great! The USD is looking incredibly weak at the moment across the board. It'll be prudent to act with caution. I'll be looking to short the USD on pullbacks or take ...

Mike's EURUSD Trading Room

Don't worry, I missed out too... Sure the GBPUSD trade worked out but I was considering a short on the USDCAD given the oil inventories data 10 minutes ago. The USDCAD has already moved down 50 pips since then... Anyway +11.0 pips on the GBPUSD ...

Mike's EURUSD Trading Room

Entered long on the GBPUSD just below that level I discussed with Swatti earlier. Long from 1.42347, risking 6.8 pips for a maximum of 25. Mike image

Mike's EURUSD Trading Room

I don't mind a short from the level you indicated, I don't really see a clear trend on the GU right now though so I'm only trading fresh touches of levels where there is likely to be a supply and demand imbalance. I try to stay objective when it ...

Mike's EURUSD Trading Room

I'm not really touching the GBPUSD right now, focused on the USDCAD and USDCHF. I'll take a look at GU in a moment. I wanted to long the USDCAD but volatility is really, really high on that pair at the present moment. I think a 10 pip stop would be ...

Mike's EURUSD Trading Room

Haha no it's fine... I think I might have let my emotions get the better of me... looking back I'd say I subconsciously wrote the trade off as a loss and moved to minimise the damage. Realistically my reasoning for entering the trade was still very ...

Mike's EURUSD Trading Room

Hey Swatti, I completely agree with your idea, the 38 fib level on my chart is one of the potential prices I'm most happy with in the coming session. I closed my long for only 3.6 pips, 1M price action was looking rather sketchy and I just really ...

Mike's EURUSD Trading Room

Planning a long position on the GBPUSD. I'll stress that I'm waiting for price action confirmation on this one, as the fib level doesn't quite line up well enough with the round level to go in without another supporting factor. Long from around ...

Mike's EURUSD Trading Room