Mihai's Trading Journal

[MihaiFXI]

USDCAD long - ICWR setup

Hi everyone! During the London LTR we took a USDCAD long based on a ICWR setup - entry at 1.0682. Current active wave shifted to 1.0690 - 1.0750, so our stop was just upgraded to 1.0697, according to our rules.

Will be monitoring this trade further in our LTR and keep this thread updated until the position is closed.

[MihaiFXI]

As you remember probably from yesterday's NY LTR, we took a NZDUSD long based on ICWR from 0.7570. For this trade, we had a risk of 35 pips, target open. As price moved up in our favor we are now 25 pips in profit - a new active wave has formed and our stop has now moved to breakeven level. We will remain in the trade and keep you updated.

P.S. At around the same time, we had spotted another good ICWR trade on AUDUSD, however our entry order was not hit for exactly 1 pip ... So unfortunately we are not into that one (even though setup proved to be correct).

[MihaiFXI]

Moved stop to 0.7585 after an extension of the active wave, however our stop got hit after a pullback, so we got out with just 15 pips in hand...

[MihaiFXI]

We are already short EURGBP from 0.6725 based on a 200MA strategy setup, stop at 0.6745, target 0.6703.

Also placed an order for a NZDUSD long from 0.7618, target 0.7665, stop @0.7594. Good risk/reward ratio if it gets filled

[MihaiFXI]

Both the powerful "power hour" strategy and LP50 confirmed a GBPUSD long today - entries at 1.9907 and 1.9927, with stops at 1.9880. We will be looking for a potential break of the current range on the upside - targets at 1.9968 and 2.0000 based on LP50.

[MihaiFXI]

ICWR will probably confirm a long if price breaks above the narrow current range, so we have placed a long order at 0.8475, with a stop at 0.8440. Target = open (looking for a break of the recent 0.8777 high.

Reccomendation: better to wait for the strategy to confirm...

Stay close for follow-ups!

[MihaiFXI]

Still into the market with 1 USDJPY lot (2 lots long on ICWR, @1.2344 from yesterday), after closing the other one today at 1.2362 (+18 pips). The pair moved in a tight range, so we decided to take half of the profits. The target for the remaining lot is 1.2385.

[MihaiFXI]

Our USDJPY long hit its target during the Asian session yesterday, so the position was entirely liquidated at 1.2385, +41 pips for the second lot.

Took profits a little early, without waiting for the ICWR to confirm.

[MihaiFXI]

First target reached at 1.9968 (+41) and still waiting for the second lot to reach higher.

Moved stop for the remaining position to breakeven level.
The target for the second lot is 2.0000 based on the LP50 signal from yesterday, so we will monitor the position for a possibly lower close.

[MihaiFXI]

While we are still into the EURGBP trade (slightly on negative), the NZDUSD order did not get filled.
It just came a few pips shy of the projected target...

Once again, an excellent setup with great R/R from the 200 MA strategy!