Thursday, April 30, 2015

***Friday May 1st*** #GBP #USD data out!!! *** PORTFOLIO HOLDINGS => ***NEW SET-UPS => #AUDUSD #NZDUSD

General Notes:
Off to Muskoka for the day! Great weather is here and it's time to celebrate how far I have come with my trading. Great things are coming my way and this year is about to get HUGE!!! Hope you all have a great weekend! Expecting some reversals these next few days as the majors have hit their opposing zones, while the #usd hit weekly demand. Possible set-ups forming! I have been inspired lately to work hard on completing a working version of my trade plan. No trades for me until I am taking a trade plan set-up.... period! I've noticed I have been trading outside my plan so I am working on trying to stay focused on just my trade plan set-ups. I'll be posting my new revised plan soon. Trade reviews are so helpful in looking back to see what I missed and why I missed it. You have to become better with each lesson or else you'll make the same mistakes over and over again. The latest COT report shows that the Hedge Funds have taken some off their #USD & #USDJPY long positions, added to their #EURUSD & #USDCAD shorts, reduced their #AUDUSD #GBPUSD shorts and everything else has basically stayed the same. You can have it all if you trade like the institutions do. Money, freedom, the ability to travel anywhere at any time, nice homes and fast cars. All it takes is dedication and hard work!  Don't you just love trading? You can be anywhere in the world and still be able to make $$$, but only if you trade alongside the institutions with Supply & Demand! The inspirational shots to the left are courtesy of @fiiyat on Instagram. Great profile you should follow! 

The Spotlight: EURJPY
Keep your eyes on the #EURJPY as I believe we have a long way down on this pair. We have just taken out a weekly area of demand  and there is nothing fresh or original until the weekly demand zone at 122.66 - 119.11. On the daily chart we have a ton of room to the downside. I'll be looking to open a short position when the time is right! Take a look at the chart inserted for more details.

Market Movers:

The Magic Trading Portfolio's Position Sizing
Currencies --> Risking only $70 per trade. As my risk tolerance gets larger, I will slowly start
increasing my risk amount. 

You can follow, learn & PROFIT from The Magic Portfolio by following the members only @MagicAlerts on Twitter. I'll be sharing my thoughts on the markets, providing video lessons on trading Supply & Demand and also be sharing with followers some very exclusive stuff. You'll have to follow to find out what. I am mapping out Institutional Demand & Supply. Do your own DD and use the info whatever way you see fit. Welcome to The Magic Trading Portfolio!

How to keep updated with the blog? I tweet updates to The Magic Trading Portfolio all day live, my advice is if you have an iphone etc, turn notifications on for my account @magikev to get the updates to the portfolio. If you missed an update, just come to the blog and check on the right side where the twitter feed is located and go through the feed to see what updates you may have missed. Otherwise, subscribe to the email updates and receive them in your inbox.

Magic Ingredient:
It is important to understand how to time the US Dollar with your trades. The key to my strategy is to time the $USD's GREEN and RED zones with the GREEN and RED zones from the set-ups. If the US Dollar and the $USDCAD, $USDCHF or $USDJPY are both entering their same coloured zones at around the same time or if the US Dollar and the $EURUSD, $GBPUSD, $AUDUSD or $NZDUSD are both entering the opposite coloured zones then the probability of the setup working out is highest. 

SUPPLY & DEMAND ZONES
Take note of the GREEN demand zones and RED supply zones mapped out below. These are the areas of interest for me because this is where there is a great deal of demand to fill buy orders and supply to fill sell orders from the institutions. 
SHADED GREEN ZONES = Strong Buy Zones

SHADED RED ZONES = Strong Sell Zones

$USD OVERVIEW (THE BIG PICTURE)
Commitment Of Traders Report: Institutional traders are VERY LONG biased. Perception of Monetary Standing: HAWKISH 
--> $USD is hitting weekly trend line and tested monthly supply.



$USD OVERVIEW (DAILY)
--> US Dollar hitting some daily/weekly supply with RSI showing possible reversal.









$USDCAD -> Commitment Of Traders Report: Institutional traders
are LONG biased. Perception of Monetary Standing: DOVISH
Notes: Trend is up on the monthly, bullish consolidation on the weekly and down on the daily chart. 
THE SETUP: 
Video Link ==> 

$AUDUSD -> Commitment Of Traders Report: Institutional traders are SHORT biased. Perception of Monetary Standing:  NUETRAL 
Notes: Trend is down on the monthly, down on the weekly and up on the daily chart. Weekly RSI suggests that after the rally up, another pull back can happen. Anticipating the weekly bearish engulfing.
THE SETUP: -> LONG @ 0.7852, SL @ 0.7785, TP - .82's
Video Link ==>

$USDCHF -> Commitment Of Traders Report: Institutional traders are SHORT biased. Perception of Monetary Standing: DOVISH
Notes: Trend is up on the monthly, bullish consolidation on the weekly and bearish consolidation on the daily chart. 
THE SETUP:
Video Link ==> 

$EURUSD -> Commitment Of Traders Report: Institutional traders are VERY SHORT biased. Perception of Monetary Standing: VERY DOVISH
Notes: Trend is down on the monthly, bearish consolidation on the weekly and bearish consolidation on the daily chart. Daily RSI suggests move towards the 1.12's.
THE SETUP: 
Video Link ==>

$GBPUSD -> Commitment Of Traders Report: Institutional traders are SHORT biased. Perception of Monetary Standing: NUETRAL
Notes: Trend is down on the monthly, bearish consolidation on the weekly and up on the daily chart.
THE SETUP: 
Video Link ==> 

$USDJPY -> Commitment Of Traders Report: Institutional traders are LONG biased. Perception of Monetary Standing: VERY DOVISH
Notes: Trend is up on the monthly, bullish consolidation on the weekly and bullish consolidation on the daily chart. Daily RSI suggests a larger move to the downside towards 117's.
THE SETUP: 
Video Link ==>

$NZDUSD -> Commitment Of Traders Report: Institutional traders are LONG biased. Perception of Monetary Standing: HAWKISH => NUETRAL 
Notes: Trend is down on the monthly, down on the weekly and up on the daily chart.
THE SETUP: SHORT @ 0.7695, SL @ 0.7751, TP - technical stop
Video Link ==> 


$GBPJPY ->
Notes: Trend on the monthly is down, weekly is down and daily is now down. 
THE SETUP (April 23): Looking for a 240 WOW confirmation set-up.    
   Video Link ==> 







Commitment Of Traders Report: Institutional traders are VERY LONG biased.
Notes: Trend is down on the monthly, bullish consolidation on the weekly and bullish consolidation on the daily chart.
THE SETUP: 
Video Link ==> 


Commitment Of Traders Report: Institutional traders are LONG biased.
Notes: Trend is down on the monthly, bullish consolidation on the weekly and down on the daily chart.
THE SETUP: 
Video Link ==> 

Commitment Of Traders Report: Institutional traders are SHORT biased.
Notes: Trend is down on the monthly, down on the weekly and up on the daily chart. 
THE SETUP: 
Video Link ==> 

Commitment Of Traders Report: Institutional traders are VERY LONG biased.
Notes: Trend is down on the monthly, bearish consolidation on the weekly and up on the daily chart.
THE SETUP: 
Video Link ==> 

Commitment Of Traders Report: Institutional traders are VERY SHORT biased.
Notes: Trend is down on the monthly, down on the weekly and bearish consolidation on the daily chart.
THE SETUP: 
Video Link ==> 


$GBPUSD -> Commitment Of Traders Report: Institutional traders are SHORT biased. Perception of Monetary Standing: NUETRAL
Notes: Trend is down on the monthly, down on the weekly and down on the daily chart.
THE SETUP: SHORT @ 1.4849, SL @ 1.4892, TP - 1.4600
Video Link ==> 
April 15 -> Trade Activated
April 16 -> Stopped out.

$GBPJPY ->
Notes: Trend on the monthly is down, weekly is down and daily is now down. 
THE SETUP: SHORT @ 175.62, SL @ 176.59, TP - 172.80's
   Video Link ==> 
April 15 -> Trade activated and stopped out.

$AUDUSD -> Commitment Of Traders Report: Institutional traders are VERY SHORT biased. Perception of Monetary Standing:  NUETRAL 
Notes: Trend is down on the monthly, down on the weekly and up on the daily chart.
THE SETUP: -> SHORT @ 0.7591, SL @ 0.7614, TP - 0.7500 LINK
Video Link ==> Review
April 2 -> Trade Activated.
April 2 -> Closed trade as wasn't dropping as expected. Made 60% return on risk.

$GBPNZD ->
Notes: Monthly trend is up and hitting daily/weekly wow demand zone.
THE SETUP: LONG @ 1.9419, SL @ 1.9339, T1 - (TS) Technical Stop
   Video Link ==> Trade Plan Review
March 25 (6:58am) -> Trade Activated
March 30 (6:30pm) -> position is up 1.72% and am ready to move the stop once price breaks through 240 supply & enters the 1.98's.

March 31 (9am) -> Stop moved below daily demand until it rallies higher LINK

March 31 -> had a great opportunity to add to my position but missed it LINK
March 31 (12:20pm) -> Moved stop to 1.9691.
April 1rst -> Position is up 2.59% as of 7:30pm.
April 2 -> Closed Trade for 385% return on risk!

$EURCAD ->
Notes: Down trend on weekly, monthly, daily in bearish consolidation, shorts all the way!
THE SETUP: (NEEDS CONFIRMATION) SHORT @ 1.3695, SL @ 1.3755, TP - Trailing Stop
   Video Link ==> http://youtu.be/wmq0jtOQhE8
March 26 -> 240 wow short confirmation is playing out right now. 
March 27 -> Trade Activated. 
March 27 -> Stopped out

$GBPCAD ->
Notes: Monthly, Weekly trend is up and Daily is down with room to drop.
THE SETUP (March 26): PCP (Pre Continuation Pattern) BO (Break Out) Short @ 1.8520, SL @ 1.8695, TP @ 1.8160's
   Video Link ==> http://youtu.be/71wsDmd3F3w
March 26 (9:18am) -> Trade Activated

$EURAUD ->
Notes: Down trend on weekly, monthly, daily, shorts all the way!
THE SETUP: SHORT @ 1.4004, SL @ 1.4083, TP - Trailing Stop
   Video Link ==> Video Review
March 18 (4:04pm) -> Trade Activated
March 25 (1:59pm) -> losing some pips but may want to retest before the drop, considering the bad #usd news and good #eur data, it's holding well.
March 26 (9am) -> closed position for small profit as it looks to want up and bullsih engulfing on the daily.

$EURUSD -> Commitment Of Traders Report: Institutional traders are VERY SHORT biased. Perception of Monetary Standing: VERY DOVISH
Notes: Trend is down on the monthly, down on the weekly and down on the daily chart.
THE SETUP: SHORT @ 1.0838, SL @ 1.0916, T1 - 1.0434, T2 - 1.0000 SETUP
Video Link ==> video review
March 18 (3:41pm) -> trade Activated and stopped out real quick.
Trade Review -> https://www.tradebench.com/share_trade/8ce6c33cb0dfee248319872c8443d8f5

$USDCAD -> Commitment Of Traders Report: Institutional traders are LONG biased. Perception of Monetary Standing: DOVISH
Notes: Trend is up on the monthly, up on the weekly and up trend on the daily chart.
THE SETUP: LONG @ 1.2705, SL @ 1.2655, T1 - 1.2970, T2 - ? SETUP
Video Link ==> Video Review
March 12 (3:15am) -> Trade Activated
March 12 (7:22am) Stop hit.
Trade Review -> https://www.tradebench.com/share_trade/9c7c720e5beff4760a7a7801028e1c36

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