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Price Action - S/R - Journal

  • #1
  • First Post: Edited Nov 15, 2011 7:15am Nov 16, 2009 9:46am | Edited Nov 15, 2011 7:15am
.
consistency wins
  • #2
  • Nov 16, 2009 9:58am Nov 16, 2009 9:58am
Quoting iTrader
Hello fellow Traders,

I would like to open this thread to record the trades that i take in the future.

I'm 31 years old, and i've been a fx-trader for about 7 years now, and honestly the first 5 years i made consistent loss http://cdn.forexfactory.com/images/s...im/winking.gif but looking back it was a very precious processe, that made me the full-time-trader which i am today.

I believe there is no automatic system that will make money for you .. while you sit back and watch the money pile up.
Trading is like working, so...
Sounds good to me, iT, I only trade Price Action, and I would be interested, in your interpretation of P/A. I have been trading over 5 years now.

Look forward to more input from you.
Good Trading. (keep it simple).
  • #3
  • Nov 16, 2009 10:03am Nov 16, 2009 10:03am
So lets start the journey or better journal

This is the 1,trade i took for today.
1.Trade:
Sell GBPUSD 1.6745
TP: 1.6706

The trade was supported by and RSI divergence, and the market movement was very slow so this encouraged me too, i didnt expect him to break 6750 and saw a reverse to the 6700 area coming.

Im waiting now for the area around 6800 to make a sell for 20-40 pips.

Im also monitoring the AUDUSD for a sell in 9400 area, and EURUSD for a sell in 5025-5050 area, lets see what will come...
Attached Image (click to enlarge)
Click to Enlarge Name: pic5.gif Size: 12 KB
consistency wins
  • #4
  • Nov 16, 2009 10:14am Nov 16, 2009 10:14am
The explanation for the second trade.

2.Trade:
Sell GBPUSD 1.6734
TP: 1.6714

I saw an resistance area between the two red horizontal lines, didnt expect a big upward movement right on the market was not very volatile ... thought it will retest 6700 area before continuing upward.

Lets see what will come next.

btw. i do trade this pairs- eurusd , gbpusd , usdjpy , eurjpy , audusd and usdcad.
Attached Image (click to enlarge)
Click to Enlarge Name: pic6.gif Size: 12 KB
consistency wins
  • #5
  • Nov 16, 2009 10:39am Nov 16, 2009 10:39am
Quoting iTrader
The explanation for the second trade.

2.Trade:
Sell GBPUSD 1.6734
TP: 1.6714

I saw an resistance area between the two red horizontal lines, didnt expect a big upward movement right on the market was not very volatile ... thought it will retest 6700 area before continuing upward.

Lets see what will come next.

btw. i do trade this pairs- eurusd , gbpusd , usdjpy , eurjpy , audusd and usdcad.
Currently iT, I am nursing a Long EU, I will post this up to you as soon as I can, I have already had good results from my first EU trade of the day.

Be back as soon as?
Good Trading. (keep it simple).
  • #6
  • Nov 16, 2009 10:58am Nov 16, 2009 10:58am
Quoting Jasper
Currently iT, I am nursing a Long EU, I will post this up to you as soon as I can, I have already had good results from my first EU trade of the day.

Be back as soon as?
Just found a bit of time to attach chart..
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min EU.gif Size: 76 KB
Good Trading. (keep it simple).
  • #7
  • Nov 16, 2009 11:11am Nov 16, 2009 11:11am
I am not too good with images, here is another try...
Attached Image (click to enlarge)
Click to Enlarge Name: 15 min EU.png Size: 185 KB
Good Trading. (keep it simple).
  • #8
  • Nov 16, 2009 11:21am Nov 16, 2009 11:21am
Quoting Jasper
I am not too good with images, here is another try...
Just got stopped out. I am slightly up about 3 pips for the day. Better than loosing.

Good luck
Good Trading. (keep it simple).
  • #9
  • Nov 16, 2009 12:12pm Nov 16, 2009 12:12pm
Hey Jasper,

Thanks for posting and reading, this thread is for everyone who likes to post his trades based on S/R and Price Action.

So i hope to see more of your trades , and we can analyze the trades too in the future.

and a small win everyday keeps the doctor away , there is no need to make 200 pips everyday with the holy grail, make a consistent 20 pips a day , and your account will rise rapidly, because with the time you can take more lots, when you feel confident

Quote
Im waiting now for the area around 6800 to make a sell for 20-40 pips.

worked out for me, i went for a short on 6783 and added my position on 6793 then exited on 6775 ... so far a nice day for me.

i will post later a screenshot and explain what i think about stoplosses , because im in a little hurry right now.

cu iT
consistency wins
  • #10
  • Nov 16, 2009 12:31pm Nov 16, 2009 12:31pm
Quick update:

I'm looking for a sell GBPUSD in the 6840 area for another 20-30 pips. Guess it will retest 6800 if it gets there.
consistency wins
  • #11
  • Nov 16, 2009 3:28pm Nov 16, 2009 3:28pm
Quote
I'm looking for a sell GBPUSD in the 6840 area for another 20-30 pips. Guess it will retest 6800 if it gets there.
I closed my last positions i took in profit. (See Attachment)

Reason i closed it out earlier is the trendline. (2nd Attachment)

Today was a very good day. I was in a drawdown in the last 3 positions, but i wanted to add this position if it reached 6900, unhopefully it turned earlier.

Well lets see what tomorrow will bring, i will catch up some sleep,

Good Night everyone.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Bild 16.png Size: 15 KB
Click to Enlarge Name: Bild 17.png Size: 23 KB
consistency wins
  • #12
  • Edited 1:40am Nov 17, 2009 1:29am | Edited 1:40am
I opened long at 1.4945 with 4 Lots, as you can see I have already taken 3 Lots off on the journey up, leaving my last Lot on. Lets hope this runs!! I would add here that a 5 min bar closing below 1.4939, and I would close the trade.
Attached Image (click to enlarge)
Click to Enlarge Name: P A Nov 17th.png Size: 197 KB
Good Trading. (keep it simple).
  • #13
  • Nov 17, 2009 2:12am Nov 17, 2009 2:12am
I should have mentioned earlier that I took my original entry from the 1 Min Bar Chart, I got in slightly late, it should have been at the close of the H/H bar to the right of the vertical yellow line.
Attached Image (click to enlarge)
Click to Enlarge Name: 1 min Bar Nov 17th.png Size: 155 KB
Good Trading. (keep it simple).
  • #14
  • Nov 17, 2009 10:49am Nov 17, 2009 10:49am
Im looking for a eurusd long around 4780-4805

and also monitoring usdcad for a sell –0655

lets see what will come,..
consistency wins
  • #15
  • Nov 18, 2009 12:55am Nov 18, 2009 12:55am
A trade I took yesterday evening, I based this on my charts top down method using 1 Day, 3Hr, 1Hr etc.. and it appeared from the 1Day Chart that Price would probably not go below 1.4806. As you can see it took me a long time to make up my mind before I entered!!! (too indecisive). I eventually entered off the 5 min Chart. I have 1 lot left on, after taking out 3 lots.
Attached Image (click to enlarge)
Click to Enlarge Name: 17th Nov 15 min.png Size: 161 KB
Good Trading. (keep it simple).
  • #16
  • Nov 18, 2009 1:47am Nov 18, 2009 1:47am
I have now gone into my Test/Play account, the trades I take here are very low value, and I use it just to see if I am I am still reading Price correctly as I read it. I post a 15min chart below, based on my Daily top down method. I aam expecting Price to reverse to about 1.4878,the middle dotted line on the chart. This line is based on Nov 5ths Daily bar close. When and if price retraces to around this level I will take an entry off either 1min or 5min chart.
Attached Image (click to enlarge)
Click to Enlarge Name: Nov 18 15min.png Size: 149 KB
Good Trading. (keep it simple).
  • #17
  • Nov 18, 2009 2:11am Nov 18, 2009 2:11am
Just gone Long at 1.4899.
Attached Image (click to enlarge)
Click to Enlarge Name: 5min entry 18th Nov.png Size: 155 KB
Good Trading. (keep it simple).
  • #18
  • Nov 18, 2009 3:03am Nov 18, 2009 3:03am
Going well, so far. Half trade off at 1.4960, another quarter off at 1.4915, a sell order to close trade at 1.4946, should it get there! S/L brought up to 1.4891. I do expect Price to go higher than 1.4891, but I would be satisfied with that.

I am going out now for a few hours,catch you later.
Attached Image (click to enlarge)
Click to Enlarge Name: Progres of 5min Nov 18th.png Size: 169 KB
Good Trading. (keep it simple).
  • #19
  • Nov 18, 2009 5:32am Nov 18, 2009 5:32am
Job Complete.

Closed my other account long out also. Am flat now, and will go back to observing P/A for the time being.
Attached Image (click to enlarge)
Click to Enlarge Name: Job Finished!!.png Size: 158 KB
Good Trading. (keep it simple).
  • #20
  • Nov 18, 2009 6:00am Nov 18, 2009 6:00am
I am long eur from 1.4954. I have gone long as per my model which incorporates moving averages and stochastics.

Apart from that I think this is the best scenario for along eur - Eurgbp higher, gold has broken out, equities look good, commodities look good (especially oil).

Although I have been aware of the break in correlation between Eur/gold and usd/equities I think if there is any catch up Eur can do it is now.....
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