EURJPY Countertrend trades this morning

PA Trading with EMAs and common Sense

Gold had a large price drop today. I thought I'd try a countertrend trade strategy from the base to see how far it would recover. Here is the narrative in pictures (well, charts...)

PA Trading with EMAs and common Sense

For me, the biggest problem I've had is this - I know that moving averages do not influence or determine price movement - price movement is simply the imbalance created by buy & sell limit & market orders being triggered into the live market. So, ...

PA Trading with EMAs and common Sense

GJ Countertrend trades - these charts show how you can be wrong about initial price direction but still make profits. While I didn't get the initial direction correct, by dollar cost averaging down lower I still made a good profit.

PA Trading with EMAs and common Sense

brilliant day niks, what a showcase of skill and focus. well done. Not that you can ever know in advance, but imagine if you'd held all those long trades from the start, and just added all the other ones into the mix... haha Harry Hindsight strikes ...

PA Trading with EMAs and common Sense

great work today niks, seriously advanced skills... and also i notice that price didn't really dip below the 50 EMA. Respect!

PA Trading with EMAs and common Sense

great work mate, hunting like a wolf..... and thanks for the timestamp too!

PA Trading with EMAs and common Sense

i take back what i said about the 50 EMA... look at how price stuck to it on the pullbacks on EU!

PA Trading with EMAs and common Sense

its a bit clumsy, because i'm on MT4, but here are the main short trade entries for those EU shorts just now

PA Trading with EMAs and common Sense

all done

PA Trading with EMAs and common Sense

image

PA Trading with EMAs and common Sense

the narrative continues...............

PA Trading with EMAs and common Sense

ok here goes, shorting EU from the top...

PA Trading with EMAs and common Sense

yes some exits are perfect, at the tops of runs, others though look like you got out halfway up a run for no particular reason (other to lock in profits, i get it)... this is my challenge to myself as well, as i said the other day... maybe its a ...

PA Trading with EMAs and common Sense

ok yes i can see the timestamp on your post, ok i will follow that. I don't mean for you to change everything up just for me, sorry to inconvenience you pal... its great the way you caught those last EU longs, i will learn from that!

PA Trading with EMAs and common Sense

some seriously good holds there mate well done!

PA Trading with EMAs and common Sense

ripper hold mate! yes the longer price goes sideways, the higher the probability that it can reverse, so that's when i start to get a little dubious. hey small favour to ask - can you please include the time and price lines in yr pics? that way i ...

PA Trading with EMAs and common Sense

yeah gold is wild... i only trade it when its behaving itself. so it looks like you only trade AU, EU & BTCUSD? I trade AU or EU or GU or NU, depending on which is moving best, and occasionally look at EJ/GJ & Gold. That's enough for me!

PA Trading with EMAs and common Sense

in more detail...

PA Trading with EMAs and common Sense

the joys and frustrations of trading gold....

PA Trading with EMAs and common Sense