Zenny Journal

uj

Gu

4 trades in a week..... bought the bottom of the day which was also the previous weekly low....

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no need to take many trades in a day.......a few if they occur will be enough...otherwise going fishing is an option..... increase your risk no the number of trades...

60% winning trades is good......sometime we lose little, sometime we win little and a few times we win big.....

Being patience and keeping a thick skin when losing is a must.

I do not take trades before the end of the first hour of LO. If trades are not triggered after 4 hours limit orders are cancelled.

Patterns to look for:

 

1. Double top/Bottom
2. Double top/Bottom PB
3. LH or HL
4. major trend reversal
5. final flags
6. breakouts
7. 1,2,3 legs PB
8. wedges
9. channels
10. trading range reversals
11. Magnets (support turned resistance and viceversa)
12. Double bottom bull flag/Double top bear flag.
13. Dueling Lines: Intersecting Trend line and Trend Channel Line

A reversal pattern is best taken if prices shows strength in that direction ( a stronger PB before the test of the previous high/low but a double top can also be also be a double top bear flag.....which is a continuation of the major trend and a stronger PB in this case is not necessary............and on and on.... so a constant evaluation of the PA is a must to weighed the direction of the least resistance.

Draw TLs and CLs (prices always travels in some sort of channel) and sup/resistance levels and see what happens there but market can turn well before or after those points, here patterns can help....
Always take trades after a trend bar (you need to follow the market.....here you can also see the trapped traders.....)
Do not trade less than 60 minutes TF with currencies.
Set SL but not TP, close trades at the end of NA session.

Eu: double top, double top bear flag and TL bounce, also previous day/weekly high.

Gu: Double top, two legs up, TL fail BO and magnetic, also PDH.

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made some changes on my system in my last 4 weeks.....my goal was to have losing days but not losing weeks.....but too early to say.......need at least another 5 months to have a more complete idea..

33% return
21 trades
61.9 %winning trades

we see....

in this trade I saw a fail final flag at the channel line and at the bottom of the larger range......took profit at the trend line of the channel..........

I prefer to let my trades run until the end of the NA session but today is the freaky friday....

Gu seems oversold and eu is in range in a middle of a tight bear channel....

when prices is in tight steep channel there is tendency to wrongly take counter trend trades.....

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a time to go short, a time to go long and a time to go fishing.....no every day is a trading day.....

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today is like trying to get blood out of stones....

took 3 trades today and all bailed out around BE.....

I am trading 10 pairs at the moment.....and not only the 3 mentioned in the thread......nice swing with crosses....will be posting more...

Not an easy day for sure my friend ,, keep swinging tho

Hi Dig

I hope all well with you and the family.

Looking at this.