Amyc Trade Journal

Hi all

I am starting this journal as a way to keep track of my trades and so I can go back in time and look at my thought and planning processes were.

I trade AUDUSD and EURUSD as my main pairs I also put on an occassional trade in GBPUSD when I see something I like but that is just a few times a year. My trades are 100% technical based from my charts I don't try to analyse the fundamentals or news, nor do I trade the news. My trades are all taken off larger time frames, 4hours is the smallest I look at, trades are typically held for 2 days to 2 months.

My objective is to average 2.5% a week over a year. I have been trading full time for 2 years now but only started in currencies 6 months ago. I welcome peoples comments and trade ideas if they wish to post them here as I still have heaps to learn in forex yet.

That's about it, good luck everyone.

Trades that I am in currently.

Long EU from 1.3423, trade entered 29/3 TP 1.3560 SL 1.3400.
Reason- weekly open above weekly pp so price should move to weekly highs.
I added to this trade today at 1.3471 TP 1.3560 SL 1.3410

There is a strong possibility that eu is going to make a move back towards 1.3800 (yellow highs) before the downtrend resumes. If it opens above Monthly PP on 1 April then this will confirm the move.

Short AU 9177, SL 9220 TP 8982

Reason weekly open below weekly pp should lead to a move down to weekly lows this week. Weekly highs match March highs at 9177.

Dollar index

I am bullish on the dollar long term but today should see a move down into 80.95 before there is any upswing, this should correspond with the euro touching 1.3566.

Longer term market thoughts

Currently I am bullish on the US dollar for the next 3-5 years. Charts indicate it should reach 88.5 this year.

Conversly I am bearish on the euro, monthly charts indicate that price will reach 1.30 in Q2 and 1.26 sometime this year, I suspect it will get lower than that though.

AU I am looking for a move back towards 82c this year, I don't think that will happen though until stock markets top out for the year.

At the moment I am looking for index markets to peak at 1200 for the S&P and 11156 for the dow, if that happens then there should be a sell off of 20-30% down towards 970 and 9124 respectively.

Short GU 1.5057 SL 1.5110 TP open

Reason- Swing movement from green lows at 1.4089 to green highs today at 1.5059 is complete. In a down trend this should be a robust sell zone.
If this trade is successful I will let it run and trail a stop.

GU overall view

The breakout of Q1 lows at 1.55 should lead to a move down into 1.4589 in Q2 and eventually on to 1.3799 (yearly lows)

Trade Update

I decided to close out the eu longs when it hit the daily highs at 1.3537 and reversed. I may regret that in a few hours but a profit is a profit.

1st entry pips gained =107
2nd entry pips gained =59

Total pips 166

I went short EU at 1.3480 last night after the bounce off 1.3537, with the 4hr close below the midpoint at 1.3421 price should continue down into the green lows over the rest of the week (RH chart) LH chart indicates price should move down another 80 pips from where it is currently so I have added to this trade at 1.3420, SL 1.3460 TP open for now.

Trade update

Stopped out of GU for -53 pips. In hindsight I should have waited until at least 1.5065 to enter this trade when the bar completed upwards into the pink resistance. I have reentered this trade this morning at 1.5072 as I think the current setup still indicates a move down. SL 1.5150 TP open.

forgot to add chart

Still holding au shorts, if there is to be a move down then it needs to be today so that we open April under Monthly PP currently sitting at 9124, if that doesn't happen then price will move up into 9282 and probably 94. If price moves down today then it should continue into 8965 (yellow lows)

Gold

These are hindsight trades as I have been building this position for a month now but I will post it as it is going to be an ongoing position. Also I am new to gold this is my first trade on it so any comments are welcome.

Short at 1143 on 3/3
Reason March highs corresponding with weekly highs
added at 1132 on 17/3 (green weekly highs)
added yesterday at 1113 (green weekly highs)

SL currently 1140 for all trades but once we break 1072 which I see as key support then I will start to trail the stops. If we break Feb lows at $1043 I will start to add aggressively looking for a move to $830.

Partial profits taken on au short at 9143. Will hold the rest looking for a break of this level. +34 pips

Hi Amyc,

I am a newbie here, i am interested in your technique and i like how you present your trade set-up, please keep it up!


good luck and happy pipping!

This is not really what you want to be seeing if you are short au, 4 hr close above the midpoint. Downtrend is under threat, I will wait and see what London session brings before I make a decision on closing out the remainder of the shorts.

EU on the other hand looking quite bearish currently, this setup should produce a move down to test the recent lows probably by the end of the week.

Hi epeks

Thanks for dropping by, good luck to you as well.

Trade Update

Closed out my EU shorts at 1.3430 + 50 pips and -10 pips.
60 minute chart. The bounce off the daily lows shown in yellow below at 1.3385 and then the open above the 4hr midpoint at 1.3420 indicates that price will head up probably into tomorrows highs, it also indicates that my first judgement about price moving to 1.38 before a retrace will probably be proven correct.

AU have closed out remaining shorts on this at 9160 +17 pips

GU looks like it is heading to 1.5405 in April before making new lows, this will be confirmed on 1 April with an open above 1.5105. If this is the case I will take a long tomorrow.