Let's see if it works

Hi,
Here's some piece of my idea. Not a mastertrader yet [need one trade more to 1KT ]

Here's something I test now so to not to get lazy I'll update results, so I can see myself trading, not only coming too late to the screen swearing that it was such a nice opportunity I've just miss.

So. In general I wait for daily trend then enter on 1H chart in trend direction with Entry Order.
For Entry level i use top or bottoms before retracements and for SL size of retracement. No clue yet for TP. Most of trades will be automated, but sometimes you can see sth's wrong, if so I'll post my explanation.
If you'd like to post and comment, I'm here around full hours to see what's on.

Later on I'll post results in first post, and maybe if decide so - will try wander off my rules to see if gut might be better than rules [might be or might be not - Gann is supposed to use stars for his indicator...].

So If you follow - you'll strt to see what do I do exactly.

EDIT: Title changed

Ok,
So here's some small analysys for today
three of my pairs seems to slow down and maybe ready for reversal. Here some analysys for you and for my future considerations was I wrong or right.

EU
for EU long trades over 1.4907 seems to be nice for me. There's previous top that if broken - will confirm for me new trend.
before that level I'm staing away. otherwise if it's go down, I'll wait for Momentum crossing below it's 15MA. It's also possible that I don't wait for this crossing if EU plunge below 1.4572 - let's just wait and see what happen.

EJ
This pair is even more uneven. I need at last one day of reversal after crossing on momentum. Here we have just two days up after crossing on Mom what's practically is miningless for direction. In other hand if trend will not reverse - this woudld be quite strong signal to go short [I've noticed that when upmove on indic is not covered with upmove on price, it's gona be nice downmove, when indic will show down].

UJ
Quite nice pair - I may trade it soon. first signs of reversals on Euro pairs encourages reversal on UJ. Additionally I see weak level @ 109.01 that alredy has been broken. So when price will go below it - there might be some small short trades. If I'll enter between 109.01 and 108.13 - it might be 50 pips move, but need to be carefull. Below 108.13 I see full downtrend [additionally confirmed by crossing level on EU.
Now I saw also 1H chart, that gives nice signal [see my entry order below] below 109 level. I've placed order there, but if before trigger i'll see crossing on 1H momentum I'll consider shall I cancel it.

I'm going back in two hours to see are there any changes

So here some pictures:

http://i33.tinypic.com/15yf3lz.jpg


And a trade:
http://i36.tinypic.com/2isf7gl.jpg

Quite hard time to make decision for me.
Price went down quite fast and reverse just before my entry.
This not looks like nice price action I got used to, so I canceled my order. Other thing is wide SL I would have to use if it was opened. Further declining is possible, but I'll wait for another trade.
Here's a picture if you like to see it
http://i35.tinypic.com/2v93s4h.jpg

Situation quite the same as yesterday exept 10/20 MA cross down on UJ daily. I've set UJ short EO @ 108.95. Today won't be able to see chart again, so have to leave it like that. SL somevhere over last five hour range area and TP on bottom of last month range [108.16]. I'll be back today at night, so no any more updates till midnight GMT.
Over 110.30 I would consider uptrend, but will not update today.

Here's the chart:
http://i33.tinypic.com/fyl409.jpg

Well...
First nice profit - 65pips [SL 26]
I've just opened sunday night my charts and saw profits closed UJ @ 108.26 now it trades @52 so it was quite good decision for short term.

For now I see some down tendency on yen pairs [EJ and UJ] flat EU.

Level for UJ 108.13 is still valid [below it I'm gonna look for short trades]

EJ needs to be observed carefully - possible shorts. It trades below last week range, momentum still on cross up, but price doesn't care

EU is in a middle of range. Yen crosses gives much clearer situations for trend, so I'm gonna live this pair for now. No trades at all.

So:
UJ - short below 108.13
EJ - look carefully [5am. GMT feels like good hour for placing orders - so expect new comments that time]
EU now quite boring.

Here's a picture:
http://i36.tinypic.com/90r6zt.jpg



EDIT: UJ could open far over it's close friday price - Yes I was lucky :>

Not too much change overnight. Euro trades below 159.20, what seems to be downtrend indication - however I have no cross on momentum yet:
http://i37.tinypic.com/wv9v6t.jpg

My first thought was to enter short @ 158.39, but now after consideratin I'm thinking of leave it till 9:30 GMT [GB manufacturing PMI] unfortunately I'm not here that time... :/
Finally I'll leave short order till 9:35 - will see...
What is quite important - it's not a valid signal yet - so it's more like pricewatching idea. It's because EJ was in downtrend - momentum showed reversion, but price didn't what ussually works as divergence and another kick down is quite possible.
Additionally price was in my region twice today, so if it will break that level - it should be for good. [note that it's after 7:45, when price sometimes bounce around S/R levels - so if it did alredy - It's not gonna be back]

Now. The most important thing - i cross my fingers and need to go

See you afternoon.

Whoa!
I'm alredy in EJ trae with 80 pips in plus!
Regret to not to create any tradeplan for UJ pair - that was a mistake caused by small account and thinking I can't afford two positions yet...

EDIT: closed @157.87

Here's what's for today.

EU
Alredy picked down direction by breaking below 1.4572
I have set yesterday evening EO @1.4582 with 36 pips SL. It was a little bit of gut trading, but tech behind was price bouncing from 10 pips above resistance point makes it more possible to be broken in near future. Additionally price was supposed to revers [as mentioned two days ago] and it didnt yet, what made me more comfortable with downtrading. fundamentally it seems to be dollar times now, so it's good to have it . Now my SL on EU is on BE that's good thing. When I'll see some new short signal - will let [you?] know.

UJ
is still downtrending, but due to short EU I'll step aside. What I expect on daily now is couple of days of hesitation and then...
Will see was that end of strong dollar for now, or another up move. I like this pair for it's moves, but today seems to be quiet here [at last till US session rather not tradable]

EJ
Daily on nice strong down move. I would wait for retracement and if occure - I'll set short trigger on last resistance. Let know if happend [propabily in next two hours - if not - will see]


http://i33.tinypic.com/2czscoy.jpg

Ok. I've closed EU @ 1.4536 what I find quite stupid or unlucky or whatever. I regret in fact.
I place short EO for EU @ 1.4514 but if price will hit 1.4536 I'll close it and will see what's on US session

This one alredy close @ 1.4506. I'm leaving for now till US session

Nothing for now, but I do expect some moves at night. We will see Aussie GDP at night and some news tommorow moring.
Plan is to come back in two three hours to set some orders.

EU
There should be nice signal @ 1.4498 - if followed by cross on Momentum - I'm in for all night. But I'm not placing EO yet.

EJ
In spite of crossing on momentum on my daily chart it trades lower and lower.
When EU will give new down signs - I'll place some Entry Orders for sure.

UJ
After promising breaking 108.13 it came back up today, so there is new low to be broken until short decision.
Now it goes down on hourly chart. If turns back around 108.38 - I see quite strong possibility of upmove for this pair and quite possible cancelation for short trades on EJ - especially during asian session.
Even if it decided to go down, UJ is not my horse for tonight anyway.

I'll have a look in two three hours to make a final decision.

http://i33.tinypic.com/anom0g.jpg

there was some spike on hourly chart that would demand 86 pips SL on EJ. That's too much for this tradestyle. EU and UJ arequite messy now so I'm staing away for now. Even AUDUSD didn't work for tonight. Time to bed.

Woke up too late today.
I don't feel comfortable to place any trades when market have alredy moved from morning.
For a piece of commentary:
EJ hit level I mentioned yesterday and went down over 70 pips now [I din't placed EO cause of wide SL I would have to use. After triggered price it went back 34 pips - hard to estimate would I be wiped or not.

UJ penetrated last top area. Price went up to 10 pips below last top - what makes it potential buy signal.

EU seems to stop for now. Quite a rangy pair on daily chart. Let's leave it for now.

If I was erlier as I wanted to [7:00GMT] I would place short orders on EUR pairs that would give me now arond 50-90 pips.
I'll be back for wall street open for I erally enjoy minidow. Lately I backtest some idea for gold [also trend and breakout] so maybe post some signals here or somewhere around

I didn't placed EO for UJ cause Euro seems to be main mover for today, and it's too late now.

Here's a picture
http://i35.tinypic.com/2rc68fq.jpg

It looks I need to wake up tommorow morning.

EU
For me upmove wil be above 1.4907. It trades now 140 pips above last low, so there is no prediction for it.
If price get closer to bottom, if MA will cross, if momentum will cross - we can talk. Now its too far to any reasonable level.

EJ
Also too far to tradable levels. If I set trigger now i would need 100 pips SL.
Things may change if cross on Mom and MA occure. Will see around 7:00 GMT.

UJ
It's quite misterious. It trades a little lower than last week, but no movement is quite an option.. :/

After considerations it seems to be worth of giving a try short @ 108.09 with 30 pips SL. If it wasn't assian session time I wouldn't trade it, so I'll cancel my order at 7:00 GMT - it's my wake up time.

http://i34.tinypic.com/ofddg1.jpg

I came to see my UJ position with no profit, what caused me to close it with zero pips. I see no setups for now. I'll trade news...

New day - new opportuninties

Yesterday I wasn't too active. Today I saw that yesterday gave nice opportuninty to make money, but not really for me. I made no money, but when saw all my puppies going down overnight I decided to place three bets for down.
There's no much to comment. I see the downmove and am sure that it will continue or won't go back here. That's why I'm comfortable with my shorts

EU @ 1.4259
EJ @ 152.16
UJ @ 106.50

In addition there are all in daily downmove, and all of them shows up on hourly omentum. If price action will not cover with momentum - I predict new plunge.

EJ
Special space for EJ on this post caused by crossing on daily momentum. I mentioned before - if Mom showed upmove pair was going down then when Mom crosses back pairs go down even further.

So her's a picture:

http://i33.tinypic.com/34yzibs.jpg

I need to cancel all the signals I made.
They are all wrong!
They don't fit with my method - they are possible, but it's not what I do trade here.
Need some proper signal instead of what chart's show. They are in range. And that's the point. As long as they don't move somewhere I don't place any order. Need clear signal with Mom below it's MA what is not a case now.
All trades cancelled.

If I didn't cancel my trades, I would get such a nice result's so far...
It's less than 1 R/R factor so far, but it makes me think a lot about my decision

Here what it would be...
EU +38 [SL 58]
EJ +100 [83]
UJ +26 [59]

Total Risk/Rewar = 3/2.3 but in other hand it's 160 pips in one evening but in one more hand if I trade it all with 30 pips SL I would be still in trade with huge R/R = 4.8/3

Should I leave it and forget it [with happy 9 pips on gold ] or maybe retest my system and rethink? Maybe suicide is an option (anyone tried yet?)

If you have any comment's on it i'll apricieate

Good night Everyone!
Quite a big spike over weekend caused kind a retracement on all three Daily charts.
In such conditions I see price do nothing or lowering gently, or following up during asian session, what encourages me to place orders on top:
EU: Long @ 1.4400
EJ: Long @ 156.91
UJ: Long @ 109.02

If my idea will work - I should be in plus at last on two pairs.
I it didn't I hope to be in minus maximum with one pair.

I'll post pictures In couple of minutes

EDIT:
Here's a picture + CORRECTION!
To entry prices spread must be aded [my chart shows sell price, so when It's a buy call it must be higher than price visible on my chart]
http://i35.tinypic.com/huke2f.jpg

Some serious minuses here
For the first time...

Today woke up with about 10 pips on EU and -45 on EJ. Finally closed with
EU - -20 pips
EJ - -66 pips

Yet I'm very happy to close those positions when I did it, cause they went even worse, and probabily both would get to my SL...

There's nothing but range on my charts. I'm waiting for better conditions for trading. Will let you know later Did anything apear.

BTW here 30pips SL would be absolutely enough what I'm start to consider as a strategy.