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DaddyPapi's Blog

DaddyPapi's Blog

FAST 137 PIPS IN JUST 2 DAYS ON GBP CHF

DaddyPapi Veröffentlicht 13 Sep. in #Trader's blog #Pips #Support #Resistance #Swing Trading #GBP CHF #Consolidation Resistance #Abc Signals

TRADE RESULT
This trade took advantage of the ABC Signal at Support of the Pennant on the Daily Chart, to signal the start of the rally to Resistance. Once the Signal was identified as being strong enough, entry then took place on the 4 Hour Chart. After just a day and a half, the trade provided a gain of 137 Pips.
SWING TRADING STRATEGY
The result reflected the use of the Weekly Range Trading Strategy where I target the 100 to 200 Pip Moves of the market. This is done using Candlestick Signals …

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162 PIP TRADE AS NZD CAD HEADED BACK TO SUPPORT

DaddyPapi Veröffentlicht 18 July in #Trader's blog #Support #Consolidation #Stop Loss #NZD CAD #Resistance Levels #Bearish Candlestick Formation #Break Of Trend Line #Double Tops

This trade was another Consolidation Setup where the pair gave a Double Top Formation to complete the Resistance Boundary and start a Bearish Move. This would lead to a break of the Uptrend Line to confirm the start of the move down to Support.
DAILY CHART
To take advantage of this, I then went down to the 4H Chart. I spotted the downtrend line formed as well as the High of Resistance of an Evening Star Bearish Signal and used that area for my Stop Loss. These 2 on their own are good Stop Loss a…

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47 PIPS ON AUD NZD BREAKOUT

DaddyPapi Veröffentlicht 18 July in #Trader's blog #Pips #Support #Resistance #Consolidation #Pennant #AUD NZD

Hey Traders how goes it?
This trade took advantage of recent bullish momentum in favour of the Aussie over the last 48 Hours.
Consolidation Setups are very common across the Forex Market and they generally represent instances of uncertainty about the Medium to Long-Term Outlook for the Pair. The Larger the Setup, the greater the news impact that is needed to start a breakout in favour of one of the currencies. This could be a Jobs Number, Trade Balance, Interest Rate/Central Bank Decision or the…

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GBP CAD Shows Importance of Having a Holding Period Rule

DaddyPapi Veröffentlicht 5 Nov. in #Trader's blog #Support #Consolidation #Swing Trading #Trading Rules #Sharp Reversals #Holding Period Rule #Trading Targets

One of the most common traps that we fall into as traders is that of holding out for more Pips than we should on a trade. This can provide us with additional Pips at times but in most cases, the market will reverse sharply to quickly erase our trading gains in the blink of an eye.
This is why it is important to incorporate a rule as to how long you are going to hold on to a trade before closing it, regardless of whether it has hit your original target.
The GBP CAD trade provided a great example …

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100-Pips GBP JPY & CHF JPY

DaddyPapi Veröffentlicht 7 Apr. in #Trader's blog #4H Chart #Support #Resistance #Daily #Consolidation #100 Pips

The GBP JPY could give us a 100-Pip trade in the next 12-24 hours if we see a good signal on the 4H Chart. This would be in response to the Daily Chart signal already given at the Resistance boundary of the large Pennant. Giving us a heads up that this is likely to happen was the positively correlated CHF JPY that had a very similar setup last week.
DAILY CHART - CHF JPY
The trade would have involved entering at the close of that Daily bearish candle, placing a Stop Loss at the high of the ABC …

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100-PIP TRADES, GBP JPY, CAD JPY

DaddyPapi Veröffentlicht 2 Apr. in #Trader's blog #4H Chart #Support #Consolidation #Daily Chart #Resitance

At the end of last month, GBP JPY and CAD JPY had similar setups on their Daily and 4H Charts that could have given the sharp-eyed trader 100 pips on both. Both were moving withing Consolidation patterns on their respective Daily Charts and gave signals to indicate entry was possible on their 4H Charts.
The GBP JPY was in the process of forming the 2nd Support point of its large Pennant on the Daily Chart when it gave a bullish U-turn signal. This was a sign of a pending rally to Resistance and …

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SIDEWAYS PATTERNS- MONEY WAITING

DaddyPapi Veröffentlicht 11 Mar. in #Trader's blog #Support #Resistance #Daily #4H #Consolidation

Consolidation patterns have formed on the Daily and 4H Charts of some pairs over the last few days and these can be traded between Support and Resistance until the breakouts take place. Between 100 and 200 pips can be easily taken, making strong contributions to a traders´profitability.
On the 4H Chart of the EURO CAD, a large 200 pip range has been formed. The price is currently above Resistance but a break back inside with a strong enough candlestick signal would indicate a movement back down …

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MISSED GBP USD TRADE

DaddyPapi Veröffentlicht 13 Feb. in #Trader's blog #GBP USD #Support #Resistance #Range #Candlestick Formation

There was a very nice 200-Pip opportunity that slipped my grasp on the GBP USD this week. The currency pair had given a Bullish Candle Signal on the Daily Chart as it started its move to the Resistance of the Range that was being formed. I had overlooked this because my attention was focused more on the breakout that would take place after the Range was formed, not realizing that a handsome gain was being offered as well.
DAILY CHART
As the currency started to form the second Support point to co…

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KIWI Leads the Way

DaddyPapi Veröffentlicht 8 Jan. in #Trader's blog #Support #Resistance #Consolidation #Breakouts #Kiwi

The Kiwi pairs of the EURO NZD and NZD CHF point to increased strength for the Kiwi over the next few days. The EURO NZD appears to be moving within a range with Resistance at 1,6780 and Support at 1,6100. The Daily Chart broke out of a Pennant at the Resistance with strong bearish candle to start the move down to Support. The 4H chart gave a follow-up signal to confirm the move with a break of a pennant this morning.
Entry Setup
Entry - 1,6350
Stop - 1.6470
Limit - 1,6100
NZD CHF, which has a s…

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NFP Provides Strong Entry Signals

DaddyPapi Veröffentlicht 6 Dec. in #Trader's blog #JPY #Nfp #Support #Resistance #Consolidation #Breakouts

Stronger NFP numbers in the US helped to lift risk-appetite among investors, sending the Japanese Yen lower against higher-yielding currencies such as the NZD, USD, and EURO. The day also saw other pairs provide strong signals to indicate their direction over the next few days.
EURO JPY looks set to continue its breakout with a strong Bullish Candlestick Formation on its daily chart, that is part of the sharp breakout from its Consolidation (Resistance 135.00, Support 131.20). If the bullish bre…

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