Obeewon on the Pound

short @ 9650 s/l 9725 t/p 1) 9580 2) not determined

this trade is try and capture some pips on the move to 9580.. i will then re-think if i want to close trade at this point or continue.. look for a struggle @ the 9600 level before a continued move down

Looking forward for how your journal turns out.

Your emotions and thinking suits me but your calmness and cool is to be learned.

i thank u for your comments... your observation is something even new to me.. starting a journal reveils alot about your style of trading and your thought process during certain times (good and bad) in the market... it also helps to devople a style of trading that is your own or fits your personality..

thank u for your comments again

still in all trades... will watch closely

picture is worth a thousand words... what does it say to u??

there seems to be symmetry here... down than up to new high maybe?

time will tell..

I am under the impression the GU is going south...do you notice the head and shoulders forming? maybe signalling a reversal? I may be wrong but I would appreciate your opinion...

if u mean the upsidedown H/S yeah i do see that on my daily chart... i have the bottom of the prevouis chart @ 9400 area or lower... just been waiting

still in all trades... trade @9650 almost stoped out but did no trigger.... if it would have i would have went short again... will be back around 5 am est

later

finally something!!!! this is what i am looking at right now

i am looking to close all trades at the bottom of this channel @ approx 9200
that seems like a long way from here but i will manage and monitor around some key areas... now the key areas that i will pay attention to are 1) 9485-9500 area.. a close below the 9485-9500 area approx 9460 and i will look to contiune short until 9397-9400 area 3) will be 9324 9340 area will come in focus after good penetration of the 9397-9400 area... now all these areas are dynamic and can change and so i will be looking at these areas daily to see were we stand... today look for price to move back up to 9600 and then perhaps continue down to 9500 area

have a good weekend... p.s. i am looking to start trading th pound yen in the coming week..

peace

MAR totals: + 430 pips
YTD totals: + 537 pips

all trades are closed...

1) s @ 9441 close @ 9700 -259 pips

2) s @ 9614 close @ 9700 - 86 pips

3 ) s @ 9650 close @ 9725 -75 pips

total losses for APR: -420 ( this is not a good way to start a new month)

there was something in the market that i did not see or take into account... these trades were getting old imo and i decided to close them and re-evaluate my position on GU.. i willl wait for a close today to see were we go from here.. losses dont feel good but i have to trust my judgement on what i see and that is why i decided to stay with the trades for so long..

i see a short diver trade on the 15min t/p 9685 but will not take this trade i will wait for a fresh day to trade again

b @ 9760 s/l not determined t/p 9895


this is based off of 15min/30 min vhart... up trend is developing however i am a little concerned about the 5 min chart being that the ma are very close together which leads me to believe that a reversal is close.. but i cannot ignore the fact that pricee is moving up... i dont really use the news but the anticipation of a right hike may be the catalyst for this move... macd does not show much momentum behind this move up so that also lends itself to the argument that a fall is near.. this ttrade has to be managed carefully consider closing trade if a close @9680-9700 area

(blu lines) may be ascending triangle.... what do u see???
red horizontal line underneth the blue is aproxx 9720 look how many times it has hit resistance.. now should be ok support

5min chart see how close ma are.. indecision can go either way play this one close...

trade update i am looking at the t/p of 9840-9850... something in this area i will look to take profit..a penetration below 9720-9690 area i may close my position and look to short..

just want to talk about some diff time frames and what i see going on.. i am mainly interested in the trend.. in the 15 min the market seems to be ranging right now but not convincingly... 9670-9680 area is in the picture for a pullback but not clear... GU is in a position to ttrend up or down so at this time there is no definite direction..

on the 1h chart the market is trending upward but is @ a point were we could se a fall back to 9700 before a move up.. i dont think this will happen b/c of the fact that 9720-9740 area seem to be a good resis area nad when price broke thru is has now become support( see previous post with red and blue lines) if there is a move thru there then we could make are way down but i would wait for it to clear the 9690-9680 area first before establishing shorts...

4hr chart is more of the same... uptrend with a possible pullback to 9685 area... this area may be trickey if u short to early b/c of the possibility that a rebound(new buyers coming into the market) out of this area is a possible senerio...

daily same.. uptrend with a top side t/p of 9840-9895.. @ this point i would re-think any long positon b/c we may be overbought and in need of a pullback to 9530 area...

recap b @ 9760 t/p 9840-9850 area

good luck...

p.s. lookin for a pullback of GJ to 233.75 b4 a buy

closed trade @ 9715 - 45 pips... i dont have a good record trading NFP so i will wait until next week to trade..

happy easter

APR totals: -465 pips (wow)

alot of my losses were brought in from the end of march so taht is never a good way to start the month.... anyway with the NFP out the way lets see how this week will unfold...

new trade s @ 9647 s/l not determined t/p 9526 ( lets try these shorts again lol)

look for price to move up to 9674-9700 area before a move down to 9606-9616 were price might stall and either move back up or continue to fall..let see what happens.. see ya around 5 am est

ok i mentioned eaileir ( couple weeks ago) that i would start trading the GJ and i am now ready to take my first trade on it... was hoping that i could start it in a better month but i see somthing and i am going to take it

s @ 234.40 s/l not determined t/p 232.60

good luck on new pair.

Hey obeewon,

It's a very respectable thing you've done posting your losses as you have. I know how hard it is(being a journal owner myself) to be honest to yourself and others, but I promise you that in the end, you will benefit from your integrity.

Best of luck in the rest of the month,

Kevin