No, I actually think it is probably going much lower. Sellers aren't trapped, buyers are! (See chart). The double bottom you're referring to is not confirmed yet, and on a small TF anyway, so not very important. There might be a small rally about to ...

Zappa's Journal

Thanks, bodring. EURUSD is not clear to me right now. It looks like it could possibly make new lows, or it could find support and make a turn. At the moment I don't see much buying and it could easily drop another 200 pips. My advice is to just wait ...

Zappa's Journal

1 and a half years, eh? You are well on your way! With an extreme work ethic---make that "obsession"--open mind, and diligence in learning from mistakes, you have most likely only got 10 years left until you have really made it, maybe even longer. I ...

A year and a half experience and still facing difficulties

This pair has topped already or is very close to making one. I think a short here would be a good trade. See chart for entry, stop, target. Stop is giving it plenty of room for error, probably more than necessary. Still, a highly probable win in my ...

USD/CAD

EURUSD set-up looking unlikely now. I think it will head back up from around here. AUDCAD short still going as expected. It reached what would have been my target today, had I not extended it. I gotta go with my gut right now and let it run to the ...

Zappa's Journal

AUDCAD going perfectly so far. This looks like about a sure a winner as I can imagine. Thinking about the next trade set-up after AUDCAD finishes, and EURUSD looks interesting. This is what I'm seeing (chart). Would like to buy sub 1.0700 with a ...

Zappa's Journal

That turned out pretty well. Been busy and finally got time to check and see how this trade went. Welp, better get back to washing dishes.

big gaps today...

Hmm...can definitely see this happening. There's a chance it could go much further, but I'll be happy with 0.8983.

Zappa's Journal

Many similarities between this AUDCAD short set-up and the NZDJPY short set-up I was in last week. Its almost like bulls keep trying and trying to break a certain level, and when they finally give up they freak out and run for the exits like a bomb ...

Zappa's Journal

Brotha, it sure ain't easy. I've had some success, but even after 11 intense years of this game, I still have my share of losing trades too. There are so many things that can go wrong in trading. We not only have the market, with all its various ...

Someone talk to me about trading

In order to simplify setting targets, as well as control my greediness, I decided last week to set targets to the same distance as my stop. I will continue to keep this as my default setting, but right now I feel like a dumbass putting the target so ...

Zappa's Journal

Time for reflection on the NZDJPY long that lost. That one felt right, looked right, and made sense (to me anyways), and yet it still turned into a loser. The only thing I take away from this one, that I will use in the future, is that I should not ...

Zappa's Journal

CK, not sure why you blame it all on manipulation. This EURUSD move is nothing out of the ordinary (see chart). I believe when a trader loses, he/she should blame nothing but themselves.

EURUSD

And here it is. Going short here.

Zappa's Journal

Haha...oh my God!! Not happy I just gave back the win that took me 2 weeks, but this is amazing. This ain't manipulation, IMO, just panic. Wild times!! Clearly I had the wrong theory on NZDJPY buying! On to the next trade.

Zappa's Journal

NZDJPY getting its teeth kicked in right now, but I still see potential for a massive reversal. Looks like summer is over! I'm liking where USDJPY made a low about 45 minutes ago. I'm thinking it will hold.

Zappa's Journal

Thanks buddy. Took long enough! Buyers were using every single opportunity to add size before finally letting it drop and take out the stops below. This long I'm in now feels right. I wanted to see a fast (but not too powerful) drop to take out ...

Zappa's Journal

NZDJPY looking like it's finally ready to make a new low after trying to make it past 82.00 seven or eight times over last two days!!! Clearly there are buyers in this area. I've got 2 orders at 80.18, one to take profits and one to enter long. ...

Zappa's Journal

Dude, I'm only expecting a fall to new lows, which is less than 200 pips from today's high. And NZDUSD doesn't need to do anything for NZDJPY to fall. JPY strength could get the job done, though I suspect NZD weakness might be the leader. I agree ...

Zappa's Journal

I notice there is both selling and buying lately. Buying is more prevalent, which signals a shift in momentum. In first chart there is buying, and in second chart we see selling. The key is to look for fake-outs. So why am I short if I think NZDJPY ...

Zappa's Journal