Starting a new journal as my trading style and pairs have changed markedly since I started. If that journal was about a beginner's journey to profitability, this is more of an intermediate's journal of refining consistency and achieving emotional mastery. https://www.forexfactory.com/thread/...dline-breakout
Last time I was primarily trading breakouts on EUR/USD, but looking at my stats I achieve much more profitability on GBP/USD so I will focus almost exclusively on this pair.
The tools are
-Supply & Demand (multi time frame)
-Price action (5m/15m chart)
-MACD Divergence
-Trend lines
-Pivot points
-Occasionally Fib retracements
-Correlations, (dxy, govt fixed income), Fundamental analysis
Goals over next 3 months
- Complete discipline, no impatient/discipline related drawdowns. Working on ways outside of the trading time to achieve this.
- Weekly financial goal to be achieved, no more than one negative day per two weeks
- Steadily rising equity curve
- Integration of swing trades alongside intraday scalping
I'll try to keep the charts much cleaner this time around as before they were a complete jumble. We will be looking for price action signatures within areas of supply and demand, starting with a multi time frame analysis and executing on the 5m/1m chart. Continuing to trade breakouts as well.
I'll post entries daily along with reflections on the trading day/week. Anyone is welcome to contribute about cable
Tomorrow I watch carefully the 1h area of supply which rejected strongly today (1.3807-33). I believe this will continue to reject price (top red area on 15m chart). DXY is reacting off an area of demand (1h chart) so if this continues to hold I expect bearishness on cable tomorrow. US10y yields are currently sideways and GB10Y gilt yields are sideways but starting to move up so we will monitor this closely. Basically there's a range between 1.37-1.38 and both sides are being defended to the hilt, I believe the downside will give way eventually.
Last time I was primarily trading breakouts on EUR/USD, but looking at my stats I achieve much more profitability on GBP/USD so I will focus almost exclusively on this pair.
The tools are
-Supply & Demand (multi time frame)
-Price action (5m/15m chart)
-MACD Divergence
-Trend lines
-Pivot points
-Occasionally Fib retracements
-Correlations, (dxy, govt fixed income), Fundamental analysis
Goals over next 3 months
- Complete discipline, no impatient/discipline related drawdowns. Working on ways outside of the trading time to achieve this.
- Weekly financial goal to be achieved, no more than one negative day per two weeks
- Steadily rising equity curve
- Integration of swing trades alongside intraday scalping
I'll try to keep the charts much cleaner this time around as before they were a complete jumble. We will be looking for price action signatures within areas of supply and demand, starting with a multi time frame analysis and executing on the 5m/1m chart. Continuing to trade breakouts as well.
I'll post entries daily along with reflections on the trading day/week. Anyone is welcome to contribute about cable
Tomorrow I watch carefully the 1h area of supply which rejected strongly today (1.3807-33). I believe this will continue to reject price (top red area on 15m chart). DXY is reacting off an area of demand (1h chart) so if this continues to hold I expect bearishness on cable tomorrow. US10y yields are currently sideways and GB10Y gilt yields are sideways but starting to move up so we will monitor this closely. Basically there's a range between 1.37-1.38 and both sides are being defended to the hilt, I believe the downside will give way eventually.