LIVE TRADE: Setup EURCHF

Okay... got a signal on the EURCHF that's providing enough reward. The downward movement has slowed near 1.08000 (the low of the nearby pinbar). This looks like a support level. Reward is about 1.5R. 

LIVE TRADE: Setup EURJPY

I like this signal on the EURJPY. Price has poked above resistance, retraced a little, and bounced back up again today, forming a pinbar. The pinbar's range is also very small, which is also good as small candles tend to precede large candles. My reward is around 2R.

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LIVE TRADE: Closed CHFSGD (opened 6 Aug 2015)

My short on the CHFSGD just got stopped out after a massive rally a few hours ago. I suffered 20 pip slippage on my stop loss, which is pretty big. Many bears got trapped, judging by the slippage and speed of the rally.

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LIVE TRADE: Setup GBPCHF

This is an "okay" setup on the GBPCHF. The overall momentum is bullish. Bulls might re-enter the trend around Friday's low. The reward is reasonable (1.25R). 

LIVE TRADE: Closed USDJPY (opened 7 Aug 2015)

My long on the USDJPY got triggered today, but the major price level of 125.000 held, and price retreated back to my stop loss. 

I am currently short on the CHFSGD, which I'll leave open over the weekend. It's nowhere near my SL or TP at the moment, so I'm just going to leave it alone.

LIVE TRADE: Setup USDJPY

USDJPY momentum has been bullish. The pullback from 125.000 was weak, so it looks like this level might break. I'm interested in going long, taking profit just below the swing high that formed on 5th June.

LIVE TRADE: Setup CHFSGD

The CHFSGD is currently at a support level, but it seems as if buying evaporated yesterday. There was a small rally which got beaten back down. The overall momentum is bearish. If it breaks out on the downside, there's plenty of scope for a nice reward. 

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LIVE TRADE: Closed EURGBP (opened 4 Aug 2015)

Yesterday, I went short on the EURGBP after price broke the low of 3 August. Price just hit my profit target a few hours ago. Reward was about 1.5 * risk. 

SETUP: NOKJPY

I'm liking this setup on the NOKJPY. Bulls tried to rally yesterday but were beaten back. Bears may be on the verge of a breakout on the downside. Plenty of scope for a nice reward.

Status

Apologies for the lack of entries last month. At the moment, I'm just trading as normal, and enter around 3-4 swing trades per week, using four systems I've developed over the last year. I usually post snapshots of my day-to-day trades on Facebook, but I'll go back to updating this blog as well. 

Because I'm doing 3-4 swing trades a week, this timeframe has become "saturated". Any additional trades I do has the strong risk of correlating with an existing trade. In order to get more trades without the danger of correlation, I have to move to shorter timeframes.

For the last month, I've been doing more research on the 4H and 1H timeframes, and so far haven't had any luck. I've said it many times previously. Transaction costs absolutely murder you on the lower timeframes. But if I want to do more trades, this is where I have to go. It's a very tough challenge. You need resilience to push through.