RE: Georges001 Trading Journal | Forex Factory

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RE: Georges001 Trading Journal

  • #1
  • First Post: May 12, 2021 12:42am May 12, 2021 12:42am
Good Morning Traders!

Hope this finds you well. I am glad to be part of this community. I will be using this thread to document my journal in the trading journey. Today the Euro Looks to be on a sideways range with price having hit resistance at 1.2173, forming a bearish tailed bar (this is not a pin bar in itself). I have taken a short order based on the following factors:
a) Daily Chart bearish tailed bar at resistance level.
b) On my 4-Hour chart, the price has closed below my EMA and p-sar supports sell signal.

The rest is to let the law of probability to work (See chart below):

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  • #2
  • May 13, 2021 4:00am May 13, 2021 4:00am
Euro Position moved to Break even. Mean reversion around the 21-day EMA working well, sellers had waited for a retracement to push prices lower. ...waiting further. See chart below on the 4-Hour monitor.
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  • #3
  • May 20, 2021 4:07am May 20, 2021 4:07am
Have taken a short order on the pound (GBP/USD) based on the following:

a) Daily Chart Two-bar reversal at 1.4157 resistance area.
b) On 4 Hour chart price is below the EMA and P-Sar supports a sell order.

Chart enlisted;
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  • #4
  • Jun 9, 2021 11:55pm Jun 9, 2021 11:55pm
Taking a short order on EUR/USD based on:
a) Bears are slightly stronger making LH and LL from 3rd of June 2021
b) Price action: Daily Chart bearish pin bar
c) taking the entry on the 4 hour chart.

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  • #5
  • Jun 11, 2021 7:34am Jun 11, 2021 7:34am
Pair has responded with bears pushing prices down despite the bullish pin bar that followed the bearish pin bar!
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  • #6
  • Jun 24, 2021 11:57pm Jun 24, 2021 11:57pm
Have placed a short order on the Sterling Pound (GBP/USD) based on:

a) Daily chart price break of the 1.3999 support (now turned resistance) .
b) Price made a retrace back to the level (representing a 50% retrace) and made a bearish tailed bar
c) On our 4 hour chart price closed below the EMA and P-sar also supports bears.

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  • #7
  • Jun 29, 2021 4:26am Jun 29, 2021 4:26am
Quoting Georges001
Have placed a short order on the Sterling Pound (GBP/USD) based on: a) Daily chart price break of the 1.3999 support (now turned resistance) . b) Price made a retrace back to the level (representing a 50% retrace) and made a bearish tailed bar c) On our 4 hour chart price closed below the EMA and P-sar also supports bears. {image}
Bears are pulling more than bulls and they are the stronger players as per price action seen so far. Current trade at +1.5R

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  • #8
  • Jul 6, 2021 4:18am Jul 6, 2021 4:18am
Had taken a short order on EUR/JPY based on the factors below:
a) Stronger players are bears marking lower highs and lower low recorded.
b) Daily chart two bar-reversal at 21-Day EMA.
c) On the 4-hour, the prices are below EMA and P-sar salutes the sellers.

One trick is to continue holding trades & not meddling with them so as to realize the true potential of the methodology.
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  • #9
  • Jul 7, 2021 10:51am Jul 7, 2021 10:51am
Have entered a short trade on NZD/USD based on the below factors:
a) Current trend is bearish on the Daily chart.
b) Huge bearish tailed pin bar on the Daily chart after a retrace to the EMA.
c) This one I did not use the 4-hour chart to enter but i did use the 50% retracement entry on the Daily chart (due to the huge pin bar) using a sell limit order at 0.7050.

** This is my first time experimenting this type of entry technique that I am learning. Let me see how it spans out. Charted below:
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  • #10
  • Jul 7, 2021 10:54am Jul 7, 2021 10:54am
Quoting Georges001
Had taken a short order on EUR/JPY based on the factors below: a) Stronger players are bears marking lower highs and lower low recorded. b) Daily chart two bar-reversal at 21-Day EMA. c) On the 4-hour, the prices are below EMA and P-sar salutes the sellers. One trick is to continue holding trades & not meddling with them so as to realize the true potential of the methodology. {image}
The daily chart trend is like a cruise liner, slowly grinding down the waters! two days later the bearish trend is still present on the EUR/JPY pair, meaning you can hold a little bit longer as the market will take a bit of time to make a turn-around.

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  • #11
  • Jul 8, 2021 11:36pm Jul 8, 2021 11:36pm
Quoting Georges001
Have entered a short trade on NZD/USD based on the below factors: a) Current trend is bearish on the Daily chart. b) Huge bearish tailed pin bar on the Daily chart after a retrace to the EMA. c) This one I did not use the 4-hour chart to enter but i did use the 50% retracement entry on the Daily chart (due to the huge pin bar) using a sell limit order at 0.7050. ** This is my first time experimenting this type of entry technique that I am learning. Let me see how it spans out. Charted below: {image}
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Wow I am excited, this one worked and my trades have hit the desired take profit at 0.6932 on the NZD/USD pair. A 2 times risk (reward achieved) or simply put a 2R return on the trade achieved. I am happy with that. Moving forward i will consider TPs of 2.5R to 3R.
  • #12
  • Jul 14, 2021 11:29pm Jul 14, 2021 11:29pm
Taken a short order on USD/CHF based on:
a) Bears taking the upper hand by maintaining price below 0.9191 resistance level.
b) Two-bar reversal at the 0.9191 resistance area on the daily chart.
c) On 4-hour chart both EMA and P-sar support short term current trend as bearish.

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  • #13
  • Jul 15, 2021 11:53pm Jul 15, 2021 11:53pm
Quoting Georges001
Taken a short order on USD/CHF based on: a) Bears taking the upper hand by maintaining price below 0.9191 resistance level. b) Two-bar reversal at the 0.9191 resistance area on the daily chart. c) On 4-hour chart both EMA and P-sar support short term current trend as bearish. {image}
Trade hit stop loss after USD/CHF snapped back after breaking lower! The pair can be really erratic, my coach never trades this pair owing to it's erratic behavior that causes whipsaws and I have also made a decision to have the USD/CHF pair deleted and off my pairs' watchlist.
  • #14
  • Jul 19, 2021 8:41am Jul 19, 2021 8:41am
RE: USD/JPY Commentary

Just look at how beautifully the Yen pair has dropped after making a bearish tailed bar at the 21 day EMA. I did not manage to make an entry on the 4-hour but it is still worth a lesson to learn from, the concept of establishing who are the stronger players is great as it creates a market bias to filter trades.

a) Price has started to make lower highs (LH) and a lower low (LL) on the Daily chart after falling below the 110.83 level.
b) Then pooof, busting low like a rock!

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  • #15
  • Jul 29, 2021 11:44pm Jul 29, 2021 11:44pm
Short trade on USD/JPY 29th July 2021

I entered a short trade on the USD/JPY pair based on:
a) Stronger players being bears as price makes a not-so-perfect down trend but marks of LH and LL evident on the daily chart.
b) There was a big daily chart red bearish full candlestick indicating momentum to the downside.
c) This was followed by a daily chart candle bearish pin bar rejecting the 21 Day EMA that formed as an inside bar (After FOMC & USD rate announcements were over)..
d) Entry was made on 4-hour char retracement to value.

Let us see how it pans out into next week.
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  • #16
  • Aug 2, 2021 11:45pm Aug 2, 2021 11:45pm
Quoting Georges001
Short trade on USD/JPY 29th July 2021 I entered a short trade on the USD/JPY pair based on: a) Stronger players being bears as price makes a not-so-perfect down trend but marks of LH and LL evident on the daily chart. b) There was a big daily chart red bearish full candlestick indicating momentum to the downside. c) This was followed by a daily chart candle bearish pin bar rejecting the 21 Day EMA that formed as an inside bar (After FOMC & USD rate announcements were over).. d) Entry was made on 4-hour char retracement to value. Let us see how it...
Update on the USD/JPY short trade :
>My analysis was right and the pair is slowly still grinding down like a cruise-liner, not a speedboat!
>Mistake that I did was to move my SL to break-even too soon and i was stopped out in the process before the cruise-liner continued to travel south. Meen!
> I need to give room for the position to breathe!
> I did not move to break even when my position was way past 1R, i did it too soon like 0.7R....there i did not follow my rules, admitted!!
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  • #17
  • Aug 2, 2021 11:52pm Aug 2, 2021 11:52pm
On the GBP/JPY pair, i took a sell trade based on:
a) General marking of LL and LH on the Daily chart evident!
b) Price did a false breaking of the 152.65 resistance area resulting in two bearish tailed bars.
c) on the 4 hour price is below the EMA and p.sar dots (of which are just a plus) also supported bearish trend.

See chart below, position not that big as I am continually learning this pair, not soo used to it:

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  • #18
  • Aug 5, 2021 5:33am Aug 5, 2021 5:33am
Short on SILVER based on:
a) Daily Chart pin bar false breaking the 25.50 level and same time rejecting the 21-EMA.
b) Marks of LH and LL evident on the daily chart.
c) 4Hour price is below the EMA and P-sar also puts in additional (but not necessary) confirmation.

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  • #19
  • Aug 6, 2021 7:59am Aug 6, 2021 7:59am
Quoting Georges001
Short on SILVER based on: a) Daily Chart pin bar false breaking the 25.50 level and same time rejecting the 21-EMA. b) Marks of LH and LL evident on the daily chart. c) 4Hour price is below the EMA and P-sar also puts in additional (but not necessary) confirmation. {image}
I did Stick to my plan on this one and gave it time to mature. It worked well. The concept of going with the stronger players in terms of LL and LH adds to the confluence factors. Out of the trade with +2.35R after Non-farm payroll.

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  • #20
  • Aug 20, 2021 12:08am Aug 20, 2021 12:08am
Shorting the USD/JPY pair based on:
a) Two bearish tailed daily chart candlesticks, at 50% retracement of the recent downward swing of the market from the top of the range at 110.70
b) Showing that we might be heading down towards the bottom of the range at 108.50's.
c) No Higher High (HH) on the chart meaning bulls are not that strong.

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