Back In To Profit

by Liam 13:16 0 comments

I briefly mentioned at the end of my last post that I had had a successful short on EU. Just thought i'd get the chart up for all to see. The trade was on Monday and after that it was a quiet enough week, didn't set any orders. A profitable week nonetheless.

1st chart is a zoomed out chart showing where the three zones originated from. We've been moving in and around these for a long time now. They are based on PnF columns so they're cumulative volume.

EUR/USD PnF Zones

I took a short at the break of Zone C (the upper zone). The market had reacted to the 50% area and came back down, it formed a triple bottom where I took my entry and hit profit on Tuesday morning.

EUR/USD PnF Zones and Entry

This trade brings me back into profit for the year. Whilst i'm not making huge gains at the moment i'm happy with how things are going. I was steadily losing money last year where as i'm keeping it around even / slightly profitable so far this year. 

That, in my books at least, is progress.

Cheers,

Liam