PipOmatic

!! CRAP !!

Price moved in my favour to begin with but then reversed and carried on up.

The stop was good and tight though so not much lost.

-14 pips on both lots.

Went short AUDUSD from a butterfly harmonic pattern. The chart has all the levels…

My first target was reached so I moved my stop to break even. Just prior to the rate announcement the stop was hit so not much gained but managed to bank 52 pips on one lot.

The GBPJPY has been on a real roller coaster the last two days. Price moved down about 500 pips yesterday and has come back about 400 today. !! Volatility rules !!

I  have identified a Gartley sell setup which I am a little hesitant to take due to the US Interest rate announcement later on today, but the setup is there so I should take the trade.

If the US stock markets don’t like rate decision or the statement made afterwards, this will cause GBPJPY to take a hit. I would kick myself for not taking the trade according to my plan.

Anyway, I sold two lots at 207.40 after price showed some resistance at the 78.6% fib retracement level of the Gartley X-A move. This was also an area where supply previously over powered demand yesterday. I have a first target of 206.80, second target of 205.46 with a stop at 208.12 which is just above the 88.6% Fibonacci retracement of the X-A part of the Gartley pattern and above the high of the Supply/Demand area.

Fingers crossed

I move my stop up to 0.7895 before the Euro zone CPI numbers came out. True to form, I got stopped out. I’m happy though because it was a WINNER !! Yeha !!

Result:

Lot 1: +46 pips
Lot 2: +65 pips