I'll be scouring the charts for "actionable masterpieces". These will be signficant chart patterns or set-ups that I feel are not only tradeable, but also have a high probability of making big profits with little risk. Whenever I spot an "actionable masterpiece", I will post an annotated chart (my chart art) along with an explanation. My goal is to help you learn how to spot these low ocurring but highly profitable "actionable masterpieces" yourself.
Trade Reviews: AUD/USD, EUR/CAD, USD/CAD
Two out of four trades ain't bad - especially since it includes one bonehead trade.
Sell AUD/USD: +112 and +80 pips
Since I had two short positions on AUDUSD, I exited this trade at 8188 to lock in some profit prior to the NFP report. I moved my stop on my other position to 8250 to lock in further profit. Well it looks like made the right moves because NFP came out terrible and the dollar sold off.
Buy EUR/CAD: -60 pips
I made this trade on the assumption that sellers were tiring and I looked for a recovery. That never happened! The Canadian dollar is on a roll right now and it reminded me by hitting my stop. That sucked.
Buy USD/CAD: -60 pips
This was a bonehead trade, well not really the trade itself, but my management of the trade. When NFP came out, it was obviously dollar bearish, but price still hung around my entry level I had a chance to exit at breakeven or with a tiny loss, but noooooo, I thought since the pair was "resilient" against such a poor US data release, that it had a chance of recovering. Obviously, that was the wrong decision.
