Archive for the ‘Wave cycle’ Category

Giving one more shot for short AUDUSD

Update (8am, June 28) This plan has been canceled before execution

To summarize the last AUDUSD trade, it was a great entry point and total miss of the exit point, ended as a break-even trade.

Seeing that 1.02267 resistance (.1) is intact, I am thinking to give one more shot of being short AUDUSD. The descent from 1.02244 (.4) to 0.9965 you can see in hourly chart can clearly be counted as an impulse. So, I will sell some AUDUSD when 0.9965 breaks down.

Still holding AUDUSD short positions

So far so good. I am actually thinking to increase the position once it goes lower than 0.9686 (.3)

AUDUSD: I will sell if 1.0222 breaks down

I think it was a good decision to close AUDUSD short position. Soon after I closed the position, it bottomed, and now I see a clear rebound of .2 wave on the daily chart:

On 3 hours chart, I can see C wave now is about the length of A within .2 wave. .2 may be ending soon if my view that AUDUSD is still in IV wave is correct.

I will sell AUDUSD if 1.0222 breaks down.

Real time trading tweets

The plan in the article may get rejected any time, so please check out my tweets on Twitter.

Current risk exposure:

Rational Move always use stop loss orders, and this is the worse case potential loss over the capital for the currently open positions. This is unrealized loss is less or equal to the risk exposure.

Capital growth

From recent 100 trades (%) The growth right before the 1st trade is set to 0%.
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From recent 100 trades (%)
About this graph

Total returns

Since inception
(Aug 10, 2009)
Year-to-date Quarter-to-date
0% 0% 0%
This is a normalized value: the return on each trade is normalized against the capital just before the trade execution. This way, it is eliminating the effect by the capital change from deposits and withdrawals. The calculation thus reflects the trading performance of each trade. The value does not contain unrealized profits and losses. RM's trading strategy never risks more than 5% of the present capital. Not including subtraction by tax.

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