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Simple and effective

  • Post #1
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  • First Post: Mar 25, 2016 5:32am Mar 25, 2016 5:32am
Hello

New to Forex Factory, but not new to Forex at all.
I've been trading for the last seven years, and sometimes it was road to hell, but like they say, 'It doesn't matter how many times you fall down, it's how many times you get up'.

I'm trading few methods. Most of them are very simple and at the same time they can make money in the long run. I'm trying also to keep my trading rules close to 'set in stone' as emotions can kill even the best trading system.

I'm trading mostly three majors: eur/usd, gbp/usd, aud/usd, as there is always some volatility in 1-2 of those every day.

I hope this journal will help me to keep my thoughts in one place, maybe there are others who trade similar way

Sorry for my english, as it's not my native language, and wish me luck.

M.
EUR/USD is in obvious sell mode few days now.
Today we have bank holiday on some currencies, and I was trying to get few pips from scalping last high (asian high) and DP area but there was no selling pressure here. My first scalp hit SL -5.
When price has broken DP I was looking for another short, as for now I do not believe in bulls, since we had big selloff last days. Every up-move was sold and there was big chance that today it will happen again.

I was looking for 74-75 area: http://www.forexfactory.com/showthre...86#post8835786

and it worked like a charm.

Happy Easter!

M.
Attached Image (click to enlarge)
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After yesterday jump on EURUSD, today's direction was pretty obvious.
Flat pullback on asian session.
Price far from the DT.
We go long.

Closed for 42pips.

Last resistance area 1.1336-40 holding so far.
Attached Image (click to enlarge)
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Pretty same story as yesterday.

Asian traders had some problems with 1.1336-40 I've mentioned last time, but London went through it easily.

Bigger picture.
Attached Image (click to enlarge)
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I was waiting for somekind of pullback to DP or previous res. area but it never happened.

Waiting for NFP, let's see where it goes now

M.
Attached Image (click to enlarge)
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Quoting margoo28
After yesterday jump on EURUSD, today's direction was pretty obvious. Flat pullback on asian session. Price far from the DT. We go long. Closed for 42pips. Last resistance area 1.1336-40 holding so far. {image}
Good luck with your journal. I like your thought processes.
Attached Image (click to enlarge)
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Quoting margoo28
After yesterday jump on EURUSD, today's direction was pretty obvious. Flat pullback on asian session. Price far from the DT. We go long. Closed for 42pips. Last resistance area 1.1336-40 holding so far. {image}
margoo, very nice and clean chart! i appreciate very much if you can share your indicators. Many Thanks!
Quoting LITEchild
{quote} Good luck with your journal. I like your thought processes. {image}
Thanks!

Looks like we use similar tools
Quoting mario777
{quote} margoo, very nice and clean chart! i appreciate very much if you can share your indicators. Many Thanks!
Thank you. It's nothing fancy, just combination of two pivots: Daily + Weekly. The rest is simple analysis and watching the news calendar.
Quoting margoo28
{quote} Thanks! Looks like we use similar tools
indeed
I haven't traded NFP, but there was a nice entry on late asian session.
Trend is holding so far pretty nicely, as we can see pivots are far from each other, also DP bouncing every pullback.
Attached Image (click to enlarge)
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Last mentioned 1.1336-40 (previous ressistance area) now served as support
Attached Image (click to enlarge)
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Not much today, just another lazy monday

Price had hard time to keep above DP, but longs were still more in favor IMO, thats why I took small scalp from local support.
Attached Image (click to enlarge)
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Today's winner was Cable for sure, which got nice kick on the US session but I've missed the ride.
Now waiting for AUD news..
Long time, no see how is your trading?

EUR/USD:
As long daily pivot is below weekly I look for short opportunities.

Small scalp today from previous resistance level 1.1335-1.1340 (also WP), closed on DP.

Very narrow range this weekend, it's possible that market is waiting for tomorrow FOMC meeting minutes.
Attached Image (click to enlarge)
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EUR/USD

Bigger picture. There is still some room for shorts.

Scenario nr 1 - market will bounce from 1.1280 area and change to bullish again
Scenario nr 2 - market will break last support area and test the low from April (1.1220).
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Quoting margoo28
EUR/USD: As long daily pivot is below weekly I look for short opportunities.
And here we go, another scalp (short) trade, closed on the low from 13th May.
Attached Image (click to enlarge)
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Quoting margoo28
EUR/USD Bigger picture. There is still some room for shorts. Scenario nr 1 - market will bounce from 1.1280 area and change to bullish again Scenario nr 2 - market will break last support area and test the low from April (1.1220). {image}
Hi margoo28

support at 1.1220 is broken, how the scenario for the next target ...?

Good luck
Libenter homines id quod volunt credunt
GBPUSD
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  • Post #20
  • Quote
  • Edited 11:32am Jul 22, 2024 9:55am | Edited 11:32am
... i have you several years in my friends list. Hope you active and watch here from time to time ....
.. this is a real good journal and i do not understand why this here do not got more interest .... so take this in the sun again ...

Attached Image (click to enlarge)
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we see last pivot not touched and we are about to leave WP behind and today DP is well testet. On the way price must clear last weeks pivot.
To note that we have in short a shoulder head shoulder formation ready. I would take a short trade if things get that clear.
Market is more simple as you think.
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