Short Term Trading For Big Profits

Hey traders,

Many of the readers here are interested in short term trading so I'm going to feature more content on shorter term setups. The videos and content I share each week are all of large time frames but all entries are based on lower time frame PA. I'm going to run through a few short term trades taken last week.

EURJPY - Short

In the previous weekly outlook which you can find here, I mentioned that I was looking for shorts on EJ and there was a great shorting opportunity.

Price had already made a move down from daily/weekly supply and there were a series of daily momo candles. I marked up the most recent momo and shared my thoughts on a move down in the members area. You can see the images below:

2016-02-07 EJ Short W1

2016-02-07 EJ Short D1 v01

Price was coming from higher time frame levels and the arrival looked good with only green candles which was a good sign for profit potential.

Price then rallied up into the daily momo candle and before long there was an engulf of a 15m demand level. After the engulf, price tried to move higher and failed indicated by two red 15m candles below the level. I was about to leave to ski so I entered and headed for the slopes.

2016-02-08 EJ Short M15

When I came back price had made a significant drop and created two supply levels on the 15m chart. I moved my stop down to the supply level closed to current price and left the charts. Price then stopped be out for about 120 pips. This was a short term trade but with lots of pips.

2016-02-08 EJ Short M15 result

2016-02-08 EJ Short M15 result dukas

I took the same trade on my long term account too so I made a lot more pips on that one.

GBPJPY - Short

GJ is the other pair I wanted to mention where I made a large number of pips too. GJ fell from an SD flip on the weekly.

2016-02-07 GJ Short W1

A red daily momo was formed on the way down and price tested the momo candle. Price then engulfed a low which was also SR with a 15m supply level forming. This was the entry point.

2016-02-11 GJ Short D1

2016-02-11 GJ Short M15

Price fell fast and far and hit daily demand so I exit. I would normally wait and trail my stop behind 15m demand but the rapid fall, the fact that it hit daily demand and that I would be out skiing for the day I decided to exit.

2016-02-11 GJ Short M15 result

Had I been able to monitor the charts I would have trailed my stop to the location below:

2016-02-11 GJ Short M15 v02

One other thing to mention is that the gains on the GJ trade were far more significant than on the EJ trade even though there isn't a great different in the number of pips made.

This is because I doubled my lot size for the GJ trade. As crazy as it sounds I did this without increasing my planned risk. I used some of the profits from the EJ trade to fund the GJ trade. How I did this safely is beyond the scope of this article but there's information on it in the members area and in the upcoming trading guide I'm producing.

Check out the video below which has all of the above more visually.


I hope you found this useful.

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1 Comment

  1. Ali Senejani on May 5, 2016 at 08:13

    Thanks Joe. Great analysis.

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