Xin’s Independent Trading for 5-12-2016: The Longest Street in the World

Introduction:

This post contains some of my personal trading experiences. If you are interested in profiting from currency trading I recommend you use the RYZE.Ai artificial intelligence autotrader from Hodo Global. This system has produced consistently excellent returns. While past performance does not guarantee future returns, I believe it is an excellent system. It also provides the opportunity to participate in trading strategies that are not available to the average trader including being a bridge liquidity provider and high frequency trading. For more information on RYZE.Ai see my detailed article, attend a Thursday webinar and watch the overview videos.

I do not recommend trying to trade on your own unless you are a very knowledgeable and experience trader.

Canada

Canada

 

A very slow day. Not much happening at all, so a short post today.

Morning Thursday 5/12/2016

Signal: British Pound / Canadian Dollar (GBPCAD)

This is a carryover from yesterday. It hit the first profit target. One down, one profit target to go!

GBPCADiH4-bat-5-12-2016-522am

British Pound / Canadian Dollar (GBPCAD) Harmonic Bat Pattern on 4 Hour Chart on 5-12-2016 at 5:22 AM

Signal: Euro / British Pound (EURGBP)

This is a carryover from yesterday evening as well. I was sure I was going to get stopped out on this one, instead it hit all the profit targets. I only had one position, so I missed out on most of the trade.

EURGBPiH1-shark-5-12-2016-523am

Euro / British Pound (EURGBP) Harmonic Shark Pattern on Hourly Chart on 5-12-2016 at 5:23 AM

 

 

 

 

 Signal: Euro / British Pound (EURGBP)

This is just an example that shows how the trade above looks on a 5 minute chart. From this perspective, the trade took a long, long time to develop. I like to look at the different time frames when entering a trade.

EURGBPiM5-shark-5-12-2016-531am

Euro / British Pound (EURGBP) Harmonic Shark Pattern on 5 Minute Chart on 5-12-2016 at 5:31 AM

Evening Tuesday 5/10/2016

Result: Euro / Canadian Dollar (EURCAD)

This trade hit the second profit target nicely. If I had three positions it would have hit the third as well.

Euro / British Pound (EURGBP) Harmonic Shark Pattern

Euro / British Pound (EURGBP) Harmonic Shark Pattern on Hourly Chart on 5-12-2016 at 5:45 PM

 

Today’s Geography Lesson: Yonge Street, Toronto Canada

Yonge Street

Yonge Street Toronto, Canada

From Wikipedia; “Yonge Street was formerly a part of Highway 11, which led to claims that Yonge Street was the longest street in the world. Running from the shores of Lake Ontario, through central and northern Ontario to the Ontario-Minnesota border at Rainy River, together they were over 1,896 kilometres (1,178 mi) long. If you visit Toronto, tour guides still will tell you it is the longest street in the world, although due to a highway construction the Guinness Book of World Records no longer gives it this title.”

Yonge Street

Lessons Learned

Lessons Learned 1: Be Patient. Give the trades time to develop. Some trades take a while, for example the British Pound / Canadian Dollar trade above.

Lessons Learned 2:  Check for conflicts. Look at the different time frames for a currency pair. For example, before entering a trade on the 4 hour chart look at the daily chart to see if it has the trade in the same direction. Be very careful if it has the opposite.

Conclusion:

If you are someone who reads my posts often you know I like to weave some geography and history into my posts. If you are a new reader, I hope you enjoy this as feature well.

Not much trading today. A very slow day with not much to report.

As always, for more information on Hodo Global and the artificial intelligence autotrader RYZE.Ai, attend the Thursday evening webinar, email me at xin@fxtradingincome.com and watch the videos below.

Learn About RYZE.Ai

Learn How to Profit with RYZE.Ai

Watch theHodo Global and RYZE.Ai autotrader videos.

If you have questions, comments or critiques, leave them in the comments area below or  contact me.

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Sincerely,

Xin

Hodo Global

Hodo Global

 

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