This latest 200-Pip gain involved a Consolidation Breakout trade from a Range setup on the Daily Chart of this Aussie pair. The Support boundary was initial broken with a weak Bearish Candle but was soon followed by a stronger U-Turn Signal that indicated the resumption of the breakout. Having determined that the overall setups on the Daily and 4 Hour Charts were in sync with the Methodology’s criteria, the trade was executed on Sunday March 29, 2015. After only a few days, the target was subsequently hit within the established holding period to push the overall return for Subscribers to 53% from only 12 trades, generating 868 Pips along the way.
Apart from the strong trading profit that Subscribers would have enjoyed on their Retail and Institutional Trading Accounts, the sharp Bullish Reversal in the market a day later would have provided them with additional reassurance about the accuracy of the Methodology. With Consolidation Breakouts, there is a greater tendency to hold out for a greater number of Pips than the market is offering given the larger Pip ranges of these breakouts. However, once the rules of the strategy are always followed, a consistent rate of growth will continue to be accrued on your portfolio in the months and years to come, with few market surprises.
GENERAL MARKET PATTERN
The over direction of the pair has been predominantly bearish since March of 2011. There have been brief periods of Consolidation that may have led to a reversal but the bears eventually take control and have provided significant gains for the Kiwi against its major trading partner’s currency. As with all trends that have lasted for several years, Long-Term, Outer and Inner Trend Lines tend to be formed.
DAILY CHART - STRONG DOWNTREND & CONSOLIDATION BREAKOUT
Given the strength of this downtrend and the start of the breakout from the Large Pennant, it was no surprise that the most recent Consolidation setup would be broken short. This would come in the form of an Evening Star Candlestick Formation as the market rallied and U-Turned after testing the Support boundary of the Range.
DAILY CHART - RANGE SETUP TO RESUME BREAKOUT
After determining that the setup of this trade conformed to the parameters set out in the Trade Sheet for Consolidation Breakouts...
TRADE SHEET CHECK LIST 
... a Trade Setup was circulated to Subscribers with details on the Entry, Stop Loss and Limit Orders using the 4 Hour Chart...
4 HOUR CHART - ENTRY & STOP LOSS SETUPS
4 HOUR CHART - TRADE TARGET SETUP
After 6 patient days, the target was eventually hit on Sunday April 5th.
DAILY CHART - TARGET FINALLY HIT
This trade pushed the Return for Subscribers to 53% and 40% on the Demo Account that tracks the trades sent to Subscribers (behind by 3 trades).
RATE OF RETURN FOR SUBSCRIBERS
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| (Assumes a starting capital of US$ 5000 for a Subscriber; Only 4 Trades Remain for a 100% Return; 105 Pips and 150 Pips Avg. Stops and Limits as per Methodology) |
RATE OF RETURN ON FXCM ACCOUNT
FXCM INDIVIDUAL TRADE RESULTS
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| (http://www.myfxbook.com/members/DRFXTRADING/duane/1079693) |
Relative to the recent performance of the top 10 Currency Traders,
CURRENCY TRADERS MANAGING MORE THAN US$10 MILLION
AS OF FEBRUARY 2015
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| Names of CTAs withheld to comply with Redistribution Terms of BarclayHedge |
...and the 2nd Best Trader between 2008 and 2013 ranked by BarclayHedge Currency Index...
RATES OF RETURN OF JARRATT DAVIS
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| http://www.jarrattdavis.com/ |
...these Subscribers continue to surpass them with room to spare.
Most of these profitable trades have been the result of accurate trade targets being set according to the setup presented. These exit points generally coincide with major price point areas that lead to strong pullbacks in the market over subsequent days. This recent trade was another example of the reversals that take place at these areas and the need to adhere to the guidelines for exit, regardless of the number of Pips.
Within a few days, the market rallied sharply to close Tuesday’s US trading session with a strong Bullish Candlestick Formation (reaction to the Interest Rate decision and Statement by the Reserve Bank of Australia). This would have eroded most of that 200 Pips had we chosen to hold out for more.
DAILY CHART - SHARP TREND REVERSAL SIGNAL
30 MINUTE CHART
The reversal seen on the Daily Chart is one of the signals given by the market to indicate the end of the Consolidation Breakout.
There is nothing more frustrating than coming back to the charts to see a perfectly good trade taken out by these reversals, especially if it begins a few Pips ahead of our intended trade target. This is why the following exit points were identified and discovered to be the best way to maximize on these trades while staying away from these “surprises”;
- Resistance/Support Boundaries;
- The Breakout Equivalent;
- The 200-Pip Maximum (where possible);
- The Weekly Range;
- The Monthly Range;
The choice of targets ultimately depends on whether we are trading a Trending or Consolidating market and the size of the Consolidation Pattern in question. So long as these are chosen appropriately on each occasion, these market surprises will be the exception with large Pip gains such as these becoming the RULE in your trading.
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