Looking Good Into The Weekend

The downtrend remains intact into the weekend I will continue to trail my stop loss at the center Keltner Channel and target my profit for the first orange Profit Pivot Line. Have a great holiday weekend!

Still Makin Money

A Thing Of Beauty!

No commentary required!

Changing Lanes!

The pound has reached our 2nd profit target the lower Keltner channel and I am taking another 3rd of the original 10 contract trade off the table. Since pricing has dropped slightly below the lower Keltner I will use the middle Keltner as my trailing stop loss and try to stay in the last part of the trade as long as possible, hopefully all the way down to the orange profit pivot line. The movement of pricing from hovering at the upper Keltner to down below the lower Keltner is commonly referred to as a "lane change".

Things Going Our Way!

 

We are ending the week with a short position in the pound that is trending in a profitable direction for us. I have already taken off a third of the original 10 contract position when pricing touched the purple profit pivot line. I will close the another third at the lower Keltner Channel and the the final third as pricing reaches the orange profit pivot line. So far my experiment with the daily profit pivot signals is proving very successful as a wealth generation tool.

And There Off!

Update On Pound Trade Short

I'm still in the trade since it hasn't touched my stop at 1.5700 Notice the tails on the purple bars are getting longer and the bodies are getting smaller. This is a sign of consolidation and I hope to catch the turn down here within the next few days if I don't get stopped out.

Back In The Trade Short

I am back in the pound trade short. I entered on todays red bar and have set my initial stop at 1.5700 even. This time I will use a slightly different profit taking strategy since last time I just left 5k on the table because I was greedy and waited until I got stopped out with a small loss by trying to chase a huge win all the way to the first orange profit pivot line. As pricing reaches the upper keltner, the ceiling profit pivot line, the middle keltner, the lower keltner, and finally the lower profit line I will take some of the trade off the table so I dont leave empty handed again. I am starting short 10 contract.

Wait for it!

Today's bar has triggered a pending short entry. Price action has pierced above the ceiling profit pivot line and a short entry arrow has painted. I will enter short the British Pound on the next red bar.

Stopped Out!

We were stopped out with a small loss on a price spike overnight. I will re-enter short on the next red bar.

So Far So Good

Pound Trade Update

To Be Continued

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