Trade Plans by EG

1.9443 is hit

1 pip away from 1.9435 and still we get strong signals to go South.

Just now 1.9435 is hit.....

Now how about 1.9400 or below?

Like 1.9389?

OR

1.9325
1.9287
1.9265

This is already 1 HELL of a PLUNGE.....

This will definitely haunt me for the rest of my life. Not being able to trade this BIG Opportunity because of a very careless act.

2% man....2%

I will put here most of my charts specially those which are on test mode system. No one should trade this LIVE. Neither will I trade just based on these charts. I want to test whether this can stand alone or not.

I will be testing different Pairs whenever possible for me to do so.

First off is the EURUSD here

Will be placing all trades on Demo.

Sell Limit Orders

EURUSD_001 - Sell 1.3752
EURUSD_002 - Sell 1.3771

AUDUSD Long Trade

EURJPY on m5

Was posted in the other thread.

I was not watching my chart. 2 Opportunities came . First was a 33pips out of 37 and a second opportunity came for 31/37 pips. Both time I was not around to take it. TP was for 37 pips.

But not bad as this was not suppposed to have SL. Entry was very near a beginning of a Wave. I could have settled for 15- 20 pips. but could have gotten at least 30 if I was watching.

Although I knew that based on Elliott Wave Count, we were already on a corrective wave, I wanted to trade the retracement within Wave A for 37 pips which was 38.2 -50% of Wave A. I did enter at 2.0518 which was very near the start of the wave up.

GBPUSD sell off may continue till 2.0400-0425 for that 38.8% retracement or correction.

This is one of the things I am Testing.

I call this the m5 x 12 Trades. This is basically for short term trades using the 5min chart. This is like riding the mini-waves. Elliott Wave Theory is the backbone of my trade analysis. However, there are times when I feel I should have exited a profitable trade and re-entered at the end of a retracement. This is what I am currently testing since I currently watch most of my trades.

I will not start a new thread in the Trading System as I do not wish to litter the forum with my threads. So, I will just keep this here in the Journal.

The Trade Strategy is as follows:

1. Time Frame - 5 Minute Charts only

2. Duration - 15m to 1 hour or can be a bit more depending on when you are satisfied with your Pip Harvest and for as long as RMI does not reach the Opposite Level of your current trade. Sometimes I wait till all 3 Bundle up on the opposite side of my trade.

3. Time - Prefer to do this during Euro, London and New York Sessions .

4. Indicators - Template Attached
MACD - 5,34,5
Stochastics - 34, 13, 5
RMI - 5

5. Pairs - there will be 11 pairs plus Gold

6. Profile - I have included in the Zip file plus a screenshot of how my screen looks like.

7. SL - I normally do not use SL on this

8. TP - can range from 10 to 30 pips. When 10 is reached you can either call it a day or watch till till you reach the oversold and overbought levels.

9. System is
a. BUY when the RMI , Stochastics and the MACD Peak and Signal Lines Bundle up at or Below the Oversold Level of 15. Sometimes Better if you wait till it crosses Level 15 back Up.
b. SELL when the RMI , Stochastics and the MACD Peak and Signal Lines Bundle up at or Above the Oversold Level of 85. Sometimes Better if you wait till it crosses Level 85 back Down.

If you want to test this, I would advise that you do not leave the trades unless you have other systems backing that decision.

Using MT4 broker, Pip Range Harvest can be 10 up to 30 pips per trade. When unsure and the bundling seems for the opposite trade already, I would prefer to exit even at a loss.

Screenshot

I still hold them as I know they will reverse because of my EW Count. However, sticking to the rules of m5 x 12, This should have been exited much earlier and could have taken about 12 pips profit.

Gold

Done Trades.

I chickened out on that AUDUSD Trade so only got 1 pip.

Do not mind the values on the right side. what is important is the pip count. Viewing my trades as Pip Count and not as Value allows me to remove emotion in my trading.

I am using this journal to keep and post some notes which may be useful in the long run.

Comparing 3 Pivot Indicators on a 1 hr chart.

CatFx50_FibPiv_v2_no_comments
AutoPivotIndicator
Pivot Lines Timezone

It would be noted that Daily S and R Levels between CatFx50 and the AutoPivotIndicator are not same labels

While AutoPivot Indicator is Basically the same with the Pivot Lines Timezone for the Daily S and R Levels.

AutoPivotIndicator though has added features of the S and R for the Weekly and the Monthly levels.

Pivot Lines Timezone on the otherhand , focuses on the Daily S and R levels but has the added feature of the Previous daysHigh and Low levels.

It is interesting to note that Spudfyre's Breakout FIBO can be superimposed on this indicator.

I am very interested to see an indicator that would combine the features of the AutoPivotIndicator and Spudfyre's Breakout FIBO.

Attached are copies of the Indicators and hopefully a kind programmer would be interested to make this indicator.

EG