MY Journal-phil13

cont' from post above....

can not trade today but i posted a H1 chart in the trade above with reference to price over (moving through) time, for me it was very important to understand this concept and really helped me understand how and why price moves the way it does.

Thanks for your great assessment....can see on D1 the zone where it ran short back to test lows. I hope you're ok my friend (no need to reply).

Alex

Hi Alex

i am ok my friend, just need some time off to sort some personal (good) things, it is not any medical issues.

can just update now and again even though not highly active ATM and it will keep me in 'touch' with what is going on which will make the odd days here and there that i can trade easier.

regards

Phil.

G/U H1 update....

G/U..... big picture (daily)

G/U trade..... a quick late friday hit and run.

G/U update....

G/U upate.... would be only quick hit and run trades today if i were trading due to the number and type of news events today.

been away for a short few days break, checking charts now and found this may be of interest....

U/C...

taking a closer look at the possible potential in U/C (above) .... H1. unfortunately i can not trade this ATM.

U/C update..... have to go do some other stuff now, hoping to get some time to trade next week.

U/C update.... news later will be a wild card for direction, be careful.

U/C update.....

So what should we suspect from today market and what should our MO be for today ???

There is very little scheduled news around, this is a big clue, it is also the first London/European session of the week, the market often waits to see the first US session for direction unless there was market moving news over the weekend then we would see the Asian session eat all the pies (make a good move).

With all these clues in mind I suspect a rangy market today with the MM’s running stops both ways as the try to do their job and create some movement in price, good places to buy/sell would be new daily highs and lows, buyers/sellers areas, any long tailed or exhaustion bars and of course off the market price structure lines with hit and run trades following the MM's.

then be out for the start of the US session and wait for further clues as to any direction it may provide.

Thank you very much Phil13, now I know that I didn't know anything interesting about money management. Thank you for the detailed examples.

Hi fex

you are welcome my friend, hopefully it will lead you to exploring some of your own ideas on money management, i notice you on the same threads i read and guess you are studying FTI's way of trading, i personally found it easier to break it up into sections like i have shown here with the money management trades, AOW is a very important part of the MO i found, not one tool on its own will make you consistently profitable, as FTI states in his first TAF post it is a blend of many different tools and skills that make the trader profitable or not.

good luck with your journey

regards

Phil.

-------------------------------------------------------------

E/U trade with today's MO in mind.... had to adjust the out before US open though... flexibility always in what we do.

So today we have some news events (oncoming trains), if you look at the charts (H1 USD pairs) we can clearly see the first US session of this week is bullish the USD, we have just had another bullish USD move in the last few hours, maybe there will be a retrace first (or maybe not?) anyway my MO for today would be to buy (waiting as long as takes on the lower frames) the USD on pullbacks so long as the market price structure hold to that bias. Chart structure and bar momentum will help see possible areas of opportunity.

Scale out/down before the news would be most advisable in these conditions and I would not want to trade against the market wheel (USD) direction for fear of falling under it and getting crushed, USD move can often produce sustained moves that are difficult to recover your troops from without getting involved in long battles.

I can not trade today so will not be showing any trades later.

With reference to the post above.....

London close in about 20mins, so what happened today??? here are the 3K's the other USD pairs are also similar in the bullish USD move both before and after the news event.

So after the big move in the USD yesterday what can we suspect from today, there is a fair bit of USD news later, the Asian session did not follow through with this move so I suspect market will wait for this data to decide next move, before that I suspect rangy movement as MM’s try to create a market move, trap and take stops/order prior to the news.

Find and trade the H1 ranges tops/bottoms and market price structures both long and shorts are valid trades in the USD today for my trading MO, scale down/out before news and wait for new action to trade later.

to note is some unexpected news being released over the last day or so, there could be another sniper somewhere waiting to get a good shot at a move.... beware for the unexpected.

Again I can not trade today.

with reference to the post above...


Here is what happened today….

U/J and G/U stayed in range but E/U fell before and after the news events.








will not be posting any more morning (european/london open) analyse, just wanted to briefly show how if you know the market you can formulate a basic daily plan to trade off of.... remember the USD is the market wheel.