Spoof's Trend, Level, Signal Trading Journal

Hello TheSpoof,

Thanks for the graphics, with their explanations
Have a nice week end

Absolutely, I’ve thought about all of those potential scenarios and have done extensive backtesting on them, though, not with price action trading. I am trying to get to the point of set and forget. At the end of the day it’s the easiest way to go and if we are taking high probability set ups with logical stops and they fail then so be it

You, too!

Age old dilemma

Pinbar formed on Eur/AUd on daily tf will wait for confirmation on 4hr chart and a break of the 1.6107

Yup. Indeed. Counter trend trade so be careful. There is a recent weekly swing low that price may be headed towards but also sitting at a past support level. Based on the weekly chart this could be a good space for a new higher swing low since we’ve already had a new higher high. Man, this is where analysis gets challenging

Just need to go off of what current price is showing us. This is precisely why not all trades work out all the time around levels. What level are we talking about? Daily? Weekly? Are the levels really close? I believe a decent risk/reward (money management) helps us come out ahead long term.

Here was a successful trade from yesterday. I took a long position after the break out above the inside candle that occurred on the EMAs. I placed a buy limit just above the inside candle high and caught the retracement back to that level.

Potential oil trade in the near future. This is also going to play out on the 4 hour charts.

Gold could be also setting up for a bounce off this daily swing level. Looking for some price action to go back in the direction of the strong up trend. I just placed a long trade on the 4 Hour. Inside candle formed near the daily swing level and broke upwards. There was also a rejection candle off the level again which prompted the long position. Let's see if this gets back up to the weekly swing level.

Buy stop placed just above the inside candle high. Price broke below the inside candle low and came back. The last candle also showed rejection of lower prices. Hopefully I can catch a move going back up to the weekly swing level for a 2R. Risky trade as I am entering essentially in the middle of the range attempting to ride a move higher. The price action on the daily looks good for this trade though. False break of the daily inside bar and the weekly swing level looks like a reasonable target.

Hi TS you still settling in or have you discontinued this thread

Ya...I am still around. Just really focusing on getting my trading and mindset back on track and getting use to my new city. Here is a trade that just finished out. Simply took the break of the inside candle in the direction of the strong up trend. The candle was also a nice rejection candle.

I am currently watching these pairs for a price action signal around these areas (circled).

Really working to get back to this space again.

Took those 2 trades

Using slightly different indicators than you but the concept is the same using 2 MAs and weekly daily and 4 hr S/R ide bar and pinbar indicators the oscillator is been trialed not sure if needed currently just using to identify possible changes in market

A nice little trade here. The trend is up so I placed a buy stop above the mother bar high with a take profit at the weekly swing level. I will be out of this pair for now until there is a break above the weekly swing level or we start to trend down.

This was a great week for me I finished out the week up +5.4R which is just lovely. I am really focusing on getting back to trading well and really following my trading plan (Trend, Level, Signal) and keeping my emotions in check. It sure paid off this week.

I sure hope no one is trying to trade EURUSD these days

The last two weeks I have been avoiding the forums here for one very simple reason - distraction. Swing trading is a pretty boring process and when the mind starts to wander it can get itself into trouble. So I would often find myself looking through the systems category here out of boredom and that can and did lead to disaster for me. I was trading very, very well for months, but I got caught up in new shiny systems that looked too good to be true and easy as pie and I almost ruined several months of good trading including, most importantly, a solid trading mindset. So I have spent the last two weeks really getting my head back on straight, exercising patience and trading only the very best trade set ups according to my plan. I am no longer looking at any sections here as they are just an absolute distraction and take the mind away from what needs to be done to trade well. Next week looks as though it may shape up into another good one based on the trends that are in place.

I suppose that’s an accomplishment in itself