Price Action (Candlestick,Fibonacci,pitchfork,S/R,Trading Range,sto)

Hi, my name is Nat, Really sorry if sometimes you dont understand what im saying because English is not my native language. I really want start my trading journal longtime ago but i really busy with my highschool homeworks so today i decided to start my trading journal. I been trading for two years now and im got help a lot from my friends who is a great trader helping me in the road to financial freedom. im talking a lot here right ? well i will going to my trading methodology right now. i basiclly trading with price action (candlestick, price range, fib levels, corrective wave and stochastic). So i will start right away, hope i can help some of new people coming in this business move away a complex system with too many indicators. i started this business is the same at all of you. We are all born to this earth naked.hihi. One advise i really want to give to new people is please learn the leading indicators (ex: 1/candlestick + fibo + s/r, 2/ candlestick + pitchfork + s/r) and dont learn the lagging indicators. You are will doing fine with 2 leading indicators + good money management, you are good in the road of this business. From now on i will update and post all the trades i will be taking during the day.I will making as a small project and i will create a $1000 account and will see how far we will go with this account.Hope you all enjoy and learn something from my trading journal. Have a good trading week.

This is the trade that i took last night during the asia section. Which is you can see there is bunch of little candle which is no volume at all, and candlstick pattern is bearish rejection because the all of those candles didnt close above the resistance line created by the highway candles. Entry at 137.3244 and my target is at 134.7847. i will tell u why i took the entry and why i exit with that level. oh i forgot this is 1hr timeframes. I will tell you why i entered the trade and will exit the trade at that level.

So here is the first trade of the august 4. You can see i had 2 blue lines is support and resistance lines. there are also 2 pitchforks. fib levels, trading range from yesterday, and finally candles chart. So come back to the topic entry and exit here, so i took the trade based on the candlesticks formation is
bearish evening dojistar confirmed the resistance level and so confirmed the trading range from yesterday. and y i will exit at that level because there is a red pitchfork (median line, if you dont know anything about median line study go google mr Tim Morge yeah) confluence with fib level and support level and tripple the trading range of asia section. Well i know you really dont understand what im saying right now but please if you dont know any of the tool i used in this chart do some googling around. But also i will exit if i see a strong reversal signal based on candlestick pattern too. So trade management will be come in play. Hope you all enjoy and have a good day of trading. !

You are most welcome.Thanks for starting the thread.
Your english is good.Pls tell us in details the parameter indicator you use,and their values,example Stochastics 5 5 3 ,8 3 3,10 3 3,.
Thanks
Wilmart

Good morning ! So lets talk about little stochastic. There is a lot of things you can learn from looking at stochastic but please learn it well and be aware when to trust it and when not. I DO NOT use it often sometime i use it to find the divergence to confirm the entry and exit from candlestick patterns. and it uses the default setting but please do not use it at your entry signal. because it will cost you money ! you know what i meant. So guys if you dont understand what in my chart please just ask i will explain as much as i can. Hope you all a good trading day !

I had move the stop loss to 136.44 beacuse you can see there all the small candle forming the base and i trade this on my real account so i better off locking in some of my profit and wait for the equity market to open and see what will happend.
it may could be playing a corrective wave too so will see what will happend next. "Trade what you see dont trade what u think what will happen."

Attachment Im getting stop out but i did little analysis here on this pair in 350 ticks chart ( u can use 15 mins to see the pattern to i think)so we will see what is going on with this pair for today im expecting it to be a down trend to complete the wave 5 for this pair today. im also looking to short this pair again. In this chart here we can see there is an impulse move which is i drew fib level there . So we have a wave A will also a impuse wave ( 5 waves) will be complete around 61.8 or 78.6 level of Ret. then i think over nite tonite and to morrow we will have another wave B to correct this wave A. Also im expecting this wave 4 to be done at price level 136.64 is the max. BUT prediction is just there for us to know the map of the market ( wave structure and market structure) we need a driver and a car to go with the map here ( candlesticks and fibo levels). So will c what will happen yeah. now i got stop out now but i will be shorting against at 136.54 and my sell limit order is ready stop loss 15 to 25 ticks. We also can trade the harmonic pattern here too. Yay ! Pips day !

350 ticks chart for EJ and GU. waiting for oppertunities to go short again yeah
looking really good for me right now ! So what do you guys think. I dont trade a lot of GU but if i got good trade setup i will take it. my main pair is EJ. So about the EJ we have a green pitchfork and that fork did it job nicely with the help of pending homesale news. So if the price play around and make a bunch in a conner of the red pitchfork we can go shot and stop loss is above the the last high about 136.51. it is a conner trade (if you dont know about conner trade go to moneyshow.com and search for Tim Morge)or you can wait for the the double top at the top of trading range from yesterday and see price ation there if it presents a good oppertunity then take it. So thats the plan for today will c you guys tomorrow. Also take a look at the 4hr GU really nice brearish rejection pattern with bunch of doji. Happy trading !

Short EJ at 137.572 and stop loss at 137.800. I took this trade because there is double top and the stop loss is really small also a really good fork set up. Also we can see the price is getting really exhausted to make to the top of the trading range from yesterday. then turn around go back to the same initial place so i called it the price is exhausting out. Happy Trading yeah ! U can also wait to get and candlestick pattern in 15 mins tf to short this pair but in 15 mins the price kept making doji candlestick pattern. Really exhausted. Also i added the G/U good for short but i really dont want to trade this pair. if you guys like it u can short this pair too.

So trade is going in our favor move the break to break even. Now we need to do some analysis in reward yeah. but also when u break even already u now dont have the risk any more just risk for time to do the trade management. So my target is at 61.8 fib level or the median line. But we have to watch the price action to action in those fib level or S/R.

So i moved my stop loss to lock in profit now. at 137.263. because it tested the trading range from asia section and bounced back up. we will watch it and see how it gonna reach my target or not.

So i got stop out at 137.248 locked it 34 pips profit so im gonna call it a day ! it you want to go short again look at the 15mins candlestick pattern and short it. i think it gonna get to my target but my pips goal for today is already done. So i will c you at the london section and new york section. Good day every one !

omg it dont want me stop trading. pay attention to the 2 small circle and the green line.im overtrading here guy but lets take this trade yeah scalping here ! entry at 137.178 Stop Loss 137.334 and target is at 136. 44 3:1 RR. Why i will explain it later. look at the 15 mins candlestick pattern great great GreatStone Doji.

My trade is still open and it near the new york market close now. So lets talk little bit of my trading strategy, money management, risk/reward ratio, and my expection about my trading to pay for my college eduaction fee. So i know most of you guys start out like me, trading with a lot of indicators, i did trade with about 4 indicators in my screen, well it back then not any more. i felt like i dont know nothing about trading when i just take all the signals from all the indicators, please dont get me wrong i know some of u trade with indicators and making money too. you guys are hard working people, i really respect all of your trading strategy using indicators. but i couldnt do like you guys i blew up 4 account which is small for 16 years old kid back then. Thank you all of you who nicely taugh more some from the thread and articles from this forum. u guys doing a great great job helping new people getting into the trading business. ok now lets talk about my trading money management. if you guys dont follew the trading money management rules ( 2% rule) i warranty with you, you will be out of business soon or later. So remember 2% rule yeh. Now to risk/reward ratio . i always look for the R/R ratio is 3:1 but sometime i will take 1:1. Remember i dont care how many percent of winning ratio i have. and i really happy if my winning percentage is 40%. if i see i have a small stop loss. and if the trade going my way i will move the stop loss to break even when the trade in +17 terrotory. ( my stop is usually 20-30 pips). So i think that all i want to say if you guys have any question about anything in my chart just please ask, maybe i can help you became a better trade. Also my expectation of the rate of return ( i will take whatever market will give me). HAPPY TRADING TO ALL .

Stop out at BE on E/J trade. Day is over. See you guys tomorrow.

Good morning everyone. 15 mins before London opens. Lets see what we left off from yesterday. here is 350 ticks chart and 1hr chart.

Hu, lets c our range from yesterday hold it or break it and go to our target. Who hold on our short position yesterday was take little hit but it paid off nicely until now ha.


I could certain go long for scalping few pips but its not my trading style. i dont trade in the mid trading range (no man land) also is this a complex corrective wave 4 in this impuse wave down. lets watch and see what will happend next. Save your troop to fight a good war. no action need to be taken at this time. Be patient yeah.

ok guys im gonna put my order in right now. Sell peding limit oder at 136.836 Stop loss 17-20 ticks.

So our order is didnt get fill but patience as a day trader you just need 1 trade a day to make a living. Find a good war and at that war our troop is heavily armed we will win as my teachear and friend said.

EJ is range trading for me today i think but if we didnt cancel our order is filled now. and target is bottom of the range 30 pips.