aussie — Aussie had a wave collapse and is starting to show signs it "may" want to go down. I wouldn't short it just yet, needs more momentum to the downside.

zoopy's trading journal

cable — Wave collapsed on cable. Bias for this pair is down.

zoopy's trading journal

eurchf — Eurchf broke a wave to the upside. Bias for this pair is now up.

zoopy's trading journal

Yes. Compare this chart with the one you posted previously. url Now that it's creating waves up, we only buy. We keep buying until a wave collapses down.

zoopy's trading journal

No. I would wait for price to drop down first and when it starts to turn around and go up, that's when I would buy. Look at some of my other charts throughout my journal and you'll see. I've provided plenty of examples.

zoopy's trading journal

Possibly. Here's my line chart. The only thing which I don't like about this current wave though is that it's small relative to the waves beside it. What may happen... there might be a bounce on the 167.00 level and if it shoots up and takes out the ...

zoopy's trading journal

Here is an example although I don't trade waves this way but I can translate it using a candlestick chart. When I sell, I want to sell around where the arrow is located (low risk, high reward). The reason why I sell there is because IF price was to ...

zoopy's trading journal

Follow up with an explanation of how waves work — Here is a good example of how waves work. Even though it's an example of the indexes, it works like this on ALL markets. url When a wave collapses down, this is an early sign that the market ...

zoopy's trading journal

Wave has already collapsed on eurjpy. Now you just wait for the price to pullback and keep selling until a wave breaks up on the 4 hour.

zoopy's trading journal

Nice trade. I use to trade the break of the wave before but have switched to trading the pullbacks instead. Less risk and higher reward. Look at my usdcad as an example. Waited for the wave to break up, then entered in at 1.0157.

zoopy's trading journal

aussie 4 hour wave — For those trading aussie, I would be very careful of taking long positions. From what I'm seeing, we have a wave collapse. I'm not sure if we closed below the base of the current wave but my bias for this pair as of now is ...

zoopy's trading journal

I use trendlines to highlight the waves (only for posting so others can see what I'm seeing - I don't actually trade with it on). In MT4, if you go to... 1. insert 2. click on shapes 3. rectangle 4. drag the cursor to create whatever shape/size of ...

zoopy's trading journal

Yup. Best to wait. I think the reason why it's just hovering around and whipsawing is because it's waiting for all the news to come out on Thursday. Always be patient, don't rush and try to buy in at the cheapest price. Aim for low risk, high reward. ...

zoopy's trading journal

Trades can vary from a few hours to a few days sometimes. Depends on market conditions.

Jacko's Forex House of Pleasure and Pain

Looks like I may have missed the euro move up. Oh well, I'll hopefully catch it next time.

zoopy's trading journal

usdcad — Entered long at 1.0157 usdcad, wave broke to the upside yesterday. Bias for this pair is long. Edit: Will be moving stop to breakeven when I hit +30 pips (currently +26). Won't be following this trade after this since I see it as a ...

zoopy's trading journal

No. Took most of the day off since things started getting boring. I am in an aussie long right now though. Order triggered I guess not too long ago at 0.9538. Euro I have orders to buy at 1.5650... not sure if it's going to go that low or not but ...

zoopy's trading journal

grey background line chart template — Here's my template for my 4 hour chart. If you're wondering why it's just blank or isn't much to it, this is actually how I trade it lol. The coloured horizontal bars that you see in my charts or the ...

zoopy's trading journal

News — Just a word of caution for this week. On Thursday we have NFP numbers coming out and I believe I saw the ECB interest rate statement as well.

zoopy's trading journal

eurjpy wave collapse — Eurjpy 4 hour wave collapsed overnight. Bias for this pair is now down.

zoopy's trading journal