Nocturnal Journal

I am starting a new journal here on the FF. The name comes from my own personal journal 'Nocturnal System' on Blogger. The name comes from the fact that I do all my analysis in the evening/night time after work or during the weekends, thus the term nocturnal.

I will post my blog stuff on here from now on. Hopefully this would motivate me to keep my trades up to date.

I do my analysis on the weekly chart and enter in positions on the daily. I trade all the majors and many crosses as well. My technique of trading involves marking key reversals, resistance, or support levels. I do my weekly chart analysis at the end of the trading week. Pick out those pairs that are making interesting moves, then watch it on the daily for possible trades for the week.

Hilmy83
Nocturnal System

Looking forward to this. It's good to see someone who doesn't trade the short-term charts. I'm with you all the way
Peter

The first trade is long AUD/JPY.


(see attached)

As you can see from the weekly, the pair is on the uptrend support. So in order to see if it would bounce off the support, I look at the daily chart and it broke the triangular pattern I have made. I went long at 89.27 with stop loss at 88.75 (52 pips risk) with 4500 lots which is about 39 cents/pip. I made a mistake on stop loss based on the lot. I wanted to have the stop loss at 88.24 but I had 4500 lots when I entered so I could not increase the stop loss, otherwise I would increase my risk. I really should pay more attention next time. The Aussie have had strong leading index, rising employment and consumer confidence. However, the home sales and business confidence are dwindling. Their skilled vacancies have increased as well. But I assume the consumer confidence with high employment will drive the Australian Dollar higher

Then I went long on AUD/NZD

(see attached)


I see that the weekly chart have produced a bullish candle after a very long bearish candle. This could mean that the bears are losing steam. Looking at the daily chart, I see a hammer on the bottom of the trend and this is a potential reversal. I went long AUD/NZD at 1.1399 with stop loss at 1.1294 with 2500 lots which is about 17 cents/pip. Since the Australian economy is doing pretty decent, I assume that the Kiwi's soaring transport and wage costs will bring it lower. Plus the dovish tone after the interest rate could weigh it down further.

My stop losses from now on should be the lowest price of the previous candle on the daily or at any key resistance levels.

So I have taken the trades and whatever the results, I hope I can learn from them.