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Hoh's journal

  • #1
  • First Post: Sep 3, 2008 12:09am Sep 3, 2008 12:09am
I'd been blogging last year so I know that keeping track of daily events is time-consuming and trivial. I don't know how far can this journal go.

I'm sorry I won't reveal my system and also no chart. No one will understand my system's indicators because they are written and interpretted by myself. So I expect this is a clean and boring journal.

Let me start it. I'm focus on GBPJPY.

GBPJPY @ 193.06 now.
Today is ranging day according to my system.
Now is down trend and wait for short at 193.60 or 163.50 depending on price action later. If enter, targets are 163.22, 163.00 and 192.60.
  • #2
  • Sep 3, 2008 12:44am Sep 3, 2008 12:44am
Quoting hoh
GBPJPY @ 193.06 now.
Today is ranging day according to my system.
Now is down trend and wait for short at 193.60 or 163.50 depending on price action later. If enter, targets are 163.22, 163.00 and 192.60.
GBPJPY @ 192.95 now.
Support is strong so the rebound could be as high as 193.80. I'm still waiting to short at 193.60 or 193.50. Enter at 30 pips from highest price is acceptable for me.
  • #3
  • Sep 3, 2008 1:17am Sep 3, 2008 1:17am
Quoting hoh
GBPJPY @ 192.95 now.
Support is strong so the rebound could be as high as 193.80. I'm still waiting to short at 193.60 or 193.50. Enter at 30 pips from highest price is acceptable for me.
GBPJPY @ 193.27 now.
Highest retrace price is still valid.
Since today is a ranging day, I'm planning to short at 193.50 or 193.60 and target at 193.10 or 193.20.
  • #4
  • Sep 3, 2008 1:27am Sep 3, 2008 1:27am
Quoting hoh
GBPJPY @ 193.27 now.
Highest retrace price is still valid.
Since today is a ranging day, I'm planning to short at 193.50 or 193.60 and target at 193.10 or 193.20.
My ranging day means price can rally up or down so this is not a good day for best trades. This also means higher risk for today.
  • #5
  • Sep 3, 2008 1:44am Sep 3, 2008 1:44am
GBPJPY @ 192.97 now.
Strong resistant @193.25 just now. This was confluent resistant for 4H, 1H and 15M so if price breaks it this will be a strong support.
Looks like bull needs more energy to break it.

On the other hand, if price rallies downward, this means 193.25 was a good price to short. However, I'm more comfortable to short at 193.60.
  • #6
  • Sep 3, 2008 1:47am Sep 3, 2008 1:47am
Note: Today's pivot is 193.70 so short at 193.60 is a high risk trade, especially when 193.25 becomes a strong support.
  • #7
  • Sep 3, 2008 1:54am Sep 3, 2008 1:54am
GBPJPY @ 193.22 now.
Pending 193.60 short order was cancelled. These is no confluent resistant at 193.50 and 193.70.

Waiting for price to stand above daily pivot 193.70 for long chances. Today may have no trade because price may be ranging around pivot.
  • #8
  • Sep 3, 2008 2:34am Sep 3, 2008 2:34am
GBPJPY @ 193.01 now.

Bull failed to take out 193.25 for three times. I'm thinking of taking a high risk short trade to 192.60.
  • #9
  • Sep 3, 2008 2:38am Sep 3, 2008 2:38am
GBPJPY @ 192.88 now.

Shorted at 192.98. Target 192.60.
  • #10
  • Sep 3, 2008 2:43am Sep 3, 2008 2:43am
Quoting hoh
GBPJPY @ 192.88 now.

Shorted at 192.98. Target 192.60.
GBPJPY @ 192.93 now.
Target changed to 192.54. 4 pips spread.
  • #11
  • Sep 3, 2008 2:54am Sep 3, 2008 2:54am
GBPJPY @ 192.75 now.

Red flag UK Services PMI is going to be announced in 40 minutes time. Wondering my target can be hit.
  • #12
  • Sep 3, 2008 3:13am Sep 3, 2008 3:13am
GBPJPY @ 192.56 now.

Trade manually closed at 192.59. 35 pips profit excludes 4 pips spread.
  • #13
  • Sep 3, 2008 3:19am Sep 3, 2008 3:19am
GBPJPY @ 192.39 now.

Here is 4.19 p.m. Malaysia time. Enough for today which was initially a ranging day. Now is a confirmed down trend.

I'm now debugging my indicators. Bye.
  • #14
  • Sep 3, 2008 8:54pm Sep 3, 2008 8:54pm
GBPJPY @ 191.61 now.

I shorted at 191.82 ten minutes ago. Not a good price because I started my homework late this morning and best entry prices were 192.20 and 192.35. Also price is expected to rebound to about 192.00 before hitting my target at 191.32. I can take this risk so I entered at middle.

Today is down trend.

Today I've got other things to do so 50 pips is enough for me because I cannot fully concentrate in trading.
  • #15
  • Sep 3, 2008 9:15pm Sep 3, 2008 9:15pm
GBPJPY @ 191.66 now.

Price rebounded from 191.50. Strong confluent resistance for 4H, 1H and 15M at 191.90. Another 1H resistant force is joining the group. If I'd not entered, I would wait for price to retrace to this price and short.
  • #16
  • Sep 3, 2008 9:23pm Sep 3, 2008 9:23pm
GBPJPY @ 191.71 now.

Bear is a bit weak so the better price for next short is 192.10. I'll not enter again unless I've out.
  • #17
  • Sep 3, 2008 9:36pm Sep 3, 2008 9:36pm
GBPJPY @ 191.96 now.

Price dropped from 191.99. Three different bear forces have not yet come to agree in current level so I expect there will be sideway in between 191.80 and 192.10 then go south again.
  • #18
  • Sep 3, 2008 9:42pm Sep 3, 2008 9:42pm
GBPJPY @ 191.90 now.

Two of three bear forces agree in this price so I think this is a good price for short. I've already in earlier so won't enter again.
  • #19
  • Sep 3, 2008 10:04pm Sep 3, 2008 10:04pm
GBPJPY @ 191.85 now.

Bear has stopped one bull attack so now price is at lower edge of this sideway channel. But bull has not yet given up so I think bull will try one more time and bear has to combine two forces to stop it.
  • #20
  • Sep 3, 2008 10:16pm Sep 3, 2008 10:16pm
GBPJPY @ 191.80 now.

One 1H bear force turns to bull force so this time bull attack may be stronger than previous one. Two bear forces may not be strong enough so third bear force can help but this needs more time.
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