MW's trading journal | Page 69 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Another Trading Journal - Yuhu's Journal 17 replies

Twitch Journal - Live Journal 4 replies

Creating my Trading Plan + My Trading Journal 27 replies

My Personal journal up 18% in 2 months going to start a journal 8 replies

Azzity's Trading Journal III (Azzity's 3/30 Trading Method) 9 replies

Attachments: MW's trading journal
Exit Attachments

MW's trading journal

  • #1,361
  • May 13, 2009 12:30pm May 13, 2009 12:30pm
Well, before I'm off I took a quick hourly (ugh) trade on the gbp/usd for a quick 50 pips. Bearish pin at resistance. I'll close at 1.51. Why not? That'll pay for a new watch. ha
I dream, therefore I become.
  • #1,362
  • May 13, 2009 12:33pm May 13, 2009 12:33pm
Quoting mike w
Nope! She didn't want to play. And I'm not seeing any opps on other pairs for the 4 hour either so I'm off again. Have a good one!
Hope you are still in NZD USD short Mike. I took 60 off first position and then 110 off second. I really like those set-ups off of Bullish or Bearish OB's and then retracement. I'll take the 170 pips and be quite happy even though this may move down some more. Looking for that next trade now!

K.I.S.S.
  • #1,363
  • May 13, 2009 12:36pm May 13, 2009 12:36pm
Quoting KissFan
Hope you are still in NZD USD short Mike. I took 60 off first position and then 110 off second. I really like those set-ups off of Bullish or Bearish OB's and then retracement. I'll take the 170 pips and be quite happy even though this may move down some more. Looking for that next trade now!

K.I.S.S.
You know it brother! Today will most likely close as a BEOB and then retrace again as we're coming up on a bit of support and it looks to be losing steam. Rebuild of momentum on it and then I think we'll keep on moving lower for the time being. My main target for this is .5500.
I dream, therefore I become.
  • #1,364
  • May 13, 2009 12:37pm May 13, 2009 12:37pm
I'm still keeping an eye on the eur/nzd as we are at an area of solid resistance as drawn from the weekly chart. Any sign of shorts on the 4 hour and I'm in. Check out Clockwork's thread for a great understanding of using the weekly S/R areas to define your trades. I've been trading quite similarly for some time now.
I dream, therefore I become.
  • #1,365
  • May 13, 2009 12:52pm May 13, 2009 12:52pm
EUR_NZD Spot.png

i have never looked at this pair....will see how it transpires...

baz
Attached Image (click to enlarge)
Click to Enlarge Name: EUR_NZD Spot.png Size: 13 KB
  • #1,366
  • May 13, 2009 5:38pm May 13, 2009 5:38pm
Quoting mike w
You know it brother! Today will most likely close as a BEOB and then retrace again as we're coming up on a bit of support and it looks to be losing steam. Rebuild of momentum on it and then I think we'll keep on moving lower for the time being. My main target for this is .5500.
We have the same sort of set-up on AUD/USD coming about. My daily closes in 1hr 45 min. I'll be looking at this one closely for short strategy. I'll be looking to get in at a hard break of the bottom of the candle (.7500) or at the 50% retrace of the BEOB candle (.7600). If she breaks short, she definately has room to roam. We shall see.
  • #1,367
  • May 14, 2009 12:08am May 14, 2009 12:08am
Quoting mike w
Well, before I'm off I took a quick hourly (ugh) trade on the gbp/usd for a quick 50 pips. Bearish pin at resistance. I'll close at 1.51. Why not? That'll pay for a new watch. ha
Closed that 50 while I was out with the girrrlllllyyy.
I dream, therefore I become.
  • #1,368
  • May 14, 2009 5:50am May 14, 2009 5:50am
Quoting KissFan
We have the same sort of set-up on AUD/USD coming about. My daily closes in 1hr 45 min. I'll be looking at this one closely for short strategy. I'll be looking to get in at a hard break of the bottom of the candle (.7500) or at the 50% retrace of the BEOB candle (.7600). If she breaks short, she definately has room to roam. We shall see.
Hey Mike! I ended up shorting this one at the break as it seems to have broken the 7500 area with momentum. I really prefer to get these up the bar but I'll play along with the market. My first target will be .7393 for 95 pips. Second is .7338. Good luck today with your trading buddy!

K.I.S.S.
  • #1,369
  • May 14, 2009 9:57am May 14, 2009 9:57am
Quoting KissFan
Hey Mike! I ended up shorting this one at the break as it seems to have broken the 7500 area with momentum. I really prefer to get these up the bar but I'll play along with the market. My first target will be .7393 for 95 pips. Second is .7338. Good luck today with your trading buddy!

K.I.S.S.
Yes sir! I'm also liking the 4 hour action that is going along with the trade. It looks like we may have just seen a retracement from the move down to gain momentum for a further push. Good luck to you too my man!
I dream, therefore I become.
  • #1,370
  • May 14, 2009 6:30pm May 14, 2009 6:30pm
Something to check out. Pin off nice round number 1.80/23.6 fib(from big move down from 2.0363) and PPZ. Some potential for some short pips to the 1.76 area. What's your opinion?

K.I.S.S.
  • #1,371
  • May 14, 2009 8:00pm May 14, 2009 8:00pm
Quoting KissFan
Something to check out. Pin off nice round number 1.80/23.6 fib(from big move down from 2.0363) and PPZ. Some potential for some short pips to the 1.76 area. What's your opinion?

K.I.S.S.
My man, I was just about to post on the eur/nzd as well as the eur/aud. To me, they are both excellent in location although the eur/nzd is the hot hand of the pairs so I will be putting more into it on a break lower than the eur/aud. Both are at a PPZ, even when shown on the weekly which is a big factor for my trading.

The previous lows of 1.76 and 2.24 will be my first targets IF we get into a trade. After that, I see no serious support until 2.15 and 1.71 respectively. If we break these lows, those are my secondary targets while placing stops above the points of 1.76 and 2.24.

We've seen a lower low on the daily for the eur/aud but it's not enough yet for me. I'd like to see at least a 15 or so pip breakl down off that candle.

If we get in, I'm thinking these will turn out nicely. I've had my eye on the eur/nzd for a few days now as we are at this solid area of S/R.

Thanks for that note Roger!
I dream, therefore I become.
  • #1,372
  • May 14, 2009 8:03pm May 14, 2009 8:03pm
BTW, breaking down the eur/aud, we initially saw a 4 hour bearish pin break down for 100 pips so far. It looks like we'll be seeing a retracement before any further movement south right now to build up the steam needed to keep pushing.
I dream, therefore I become.
  • #1,373
  • May 14, 2009 10:43pm May 14, 2009 10:43pm
Depending on the 4 hour PA, I'm going to jump into the eur/nzd. It looks to be forming a head and shoulders formation. Possibility of this 4 hour close being a pin. On a break below, I'll enter the position with minimal risk tothe topside as I will put my stop just above the 4 hour bar IF it forms correctly. Nothing going until that close.
I dream, therefore I become.
  • #1,374
  • May 14, 2009 11:19pm May 14, 2009 11:19pm
Quoting mike w
I was stopped out of my eur/jpy and cad/jpy positions in profit on the sunday open, while the aussie trade is still running strong. I'll be closing it at .7700. Other than that, I jumped in the BEOVB on the NZD/JPY and the bearish pin on the nzd/usd (which isn't looking so hot as there is support right there). It is at a very good "zone" although .5900 will be tough to break. If it doesn't I'll be out for a loss.
I guess I'll take this time to update while I'm waiting on the eur/nzd 4 hour bar.

I closed out the aussie long order at .7700, while I'm still in the nzd/jpy and nzd/usd shorts off the daily bearish bars of 5/11.

I was closed out of the aud/cad short for a gain of 10 (stopped at entry). Now we are right back to where we started and it's looking like a double top in price for the moment. I'm still in the gbp/chf short as well, although I took partial off the table for 150 pips at the bottom of the recent range. Right now, price is retracing back to B/E.
I dream, therefore I become.
  • #1,375
  • May 15, 2009 12:30am May 15, 2009 12:30am
Here we go on the eur/nzd trade. I've jumped in on a break of the 4 hour bearish bar. It looks as if a head and shoulder formation is coming about. My entry was 2.2950. Let's just wait and see how it plays out now. Good night everyone. BTW, stops are just above at 2.3065. Good risk/reward trade.
I dream, therefore I become.
  • #1,376
  • May 15, 2009 2:52am May 15, 2009 2:52am
Quoting mike w
Here we go on the eur/nzd trade. I've jumped in on a break of the 4 hour bearish bar. It looks as if a head and shoulder formation is coming about. My entry was 2.2950. Let's just wait and see how it plays out now. Good night everyone. BTW, stops are just above at 2.3065. Good risk/reward trade.
I'm glad I stayed up to watch. I changed my stop as it approached the high to take out weak stops/gain momentum.
I dream, therefore I become.
  • #1,377
  • May 15, 2009 11:24am May 15, 2009 11:24am
Hey Mike, I am looking at the weekly gbp/chf you pointed out earlier.... it seems as if it wants to close as a hammer... weekly not closed yet though.. might be a long opp with a retest of the 1.72xx in mind...

Eur/jpy looks like a bearish engulfing with the 126-127 area looking possible going into next week...

I'm done trading for the week.. I will have a look later on to see how the weekly charts close.... Have a great weekend bro!
Patience + Discipline - Greed = Success
  • #1,378
  • May 16, 2009 10:31am May 16, 2009 10:31am
Quoting Infinity
Hey Mike, I am looking at the weekly gbp/chf you pointed out earlier.... it seems as if it wants to close as a hammer... weekly not closed yet though.. might be a long opp with a retest of the 1.72xx in mind...

Eur/jpy looks like a bearish engulfing with the 126-127 area looking possible going into next week...

I'm done trading for the week.. I will have a look later on to see how the weekly charts close.... Have a great weekend bro!
Whats uppp my man?!

I got stopped out at B/E on the remainder of that gbp/chf position. I'm checking out the weekly. One thing to keep in mind is that the past 3 weeks have been IBs to the previous bar. Consolidation zone right now.
Your thoughts of retouching the highs of 1.72 seem solid too. I'd be looking for confirming PA in that area for sure.

As for the eur/jpy, your right on all counts. We also closed as a daily bearish engulfment pattern as well as on the weekly charts. I'm thinking we'll be seeing a retracement around this area as we are coming into support at the PPZ of 128.50. I'll be waiting for an entry around 129.50-130.

Have a good one brother! I'll be posting up anything I'm seeing tomorrow before the market opens again.
I dream, therefore I become.
  • #1,379
  • May 18, 2009 1:07pm May 18, 2009 1:07pm
Quoting mike w
Whats uppp my man?!

I got stopped out at B/E on the remainder of that gbp/chf position. I'm checking out the weekly. One thing to keep in mind is that the past 3 weeks have been IBs to the previous bar. Consolidation zone right now.
Your thoughts of retouching the highs of 1.72 seem solid too. I'd be looking for confirming PA in that area for sure.

As for the eur/jpy, your right on all counts. We also closed as a daily bearish engulfment pattern as well as on the weekly charts. I'm thinking we'll be seeing a retracement around this area as...

Yoooo Infinity, what's up my man?

Check out the eur/jpy and gbp/chf now.

You were exactly right on the retrace to 1.72 for the gbp/chf. I'm waiting for PA now on the 4 hour to confirm direction(My guess is down, although guesses don't make me any cash).

As for the eur/jpy, I'm jumping in now off this retracement. My target is 125.50. Entry is 130.15.

The eur/nzd and eur/aud are now cooperating and I am locking in profit on these pairs.
I dream, therefore I become.
  • #1,380
  • May 18, 2009 6:18pm May 18, 2009 6:18pm
We have many BUOB's on Yen crosses today. However, they will be mostly trading against semi-well to well placed BEOB's on weekly. I'll be shorting the NZD/JPY if it retraces north sufficiently for entry around the 58.20 areaas long as King PA gives me his blessing. Other than that, I'm flat. Was stopped out of Euro/AUD today for a combined total of 259 pips profit between two positions. Took 200 pips profit off a A/U short from friday until last night-two positions also. Not a bad start to the week.

I really enjoy posting some thoughts here when I can as I have the utmost in respect for your POV. Here is a chart of my Euro/Aud trade. I use harmonics simply as confluence. Take care bro!

K.I.S.S.
Attached Image (click to enlarge)
Click to Enlarge Name: euraud2.gif Size: 62 KB
1 trader viewing now