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Price Action - S/R - Journal

  • #41
  • Nov 18, 2009 1:49pm Nov 18, 2009 1:49pm
I'm seeing a possible long entry for GBPUSD around 6670/85.
Worth to monitor, if it gets there tonight/Asian Session there will be a good bounce up i believe.
Attached Image (click to enlarge)
Click to Enlarge Name: Bild 40.png Size: 16 KB
consistency wins
  • #42
  • Nov 18, 2009 2:05pm Nov 18, 2009 2:05pm
Quoting iTrader
I'm seeing a possible long entry for GBPUSD around 6670/85.
Worth to monitor, if it gets there tonight/Asian Session there will be a good bounce up i believe.
I'll take a look.
Good Trading. (keep it simple).
  • #43
  • Nov 18, 2009 2:07pm Nov 18, 2009 2:07pm
Wanted to lose some words to the topic "Stop Loss"

I dont use Stop Loss in the common sense, i dont have a strict Stop somwhere set. if the market goes against me i watch price action if there is high volatility and i dont see an other chance i will :

A) close all open Positions in minus.

B) Hedge all Positions.

but i never set a stop loss, because whenever i set one:

A) i get whipsawed

B) i become very nervous and close my position either in very small profit or on BE , when there is no reason to do so.

but as i always said, i dont have any pressure i dont need 1000 pips a day, its enough if i make 20 pips a day with higher lot sizes., so i try to only take high probability setups, where i can pretty sure average out if it goes against me.

and like i already showed in the charts before, always watch news and look if there is something happening, this will prevent you from jumping into volatile unpredictable markets.

never rush. take it slow.
consistency wins
  • #44
  • Nov 18, 2009 2:27pm Nov 18, 2009 2:27pm
Quoting iTrader
I'm seeing a possible long entry for GBPUSD around 6670/85.
Worth to monitor, if it gets there tonight/Asian Session there will be a good bounce up i believe.
At a glance, I would expect Price not to go lower than 1.6705, and to go up above 1.6738, it may go down to 1.6670 and I would have to wait what it did from there, before any other decision.

Good Luck.
Good Trading. (keep it simple).
  • #45
  • Nov 18, 2009 2:39pm Nov 18, 2009 2:39pm
Quoting Jasper
At a glance, I would expect Price not to go lower than 1.6705, and to go up above 1.6738, it may go down to 1.6670 and I would have to wait what it did from there, before any other decision.

Good Luck.
Watch Price between the two Purple dotted lines, at some stage I would expect it to break the upper line and eventually leave it.
Attached Image (click to enlarge)
Click to Enlarge Name: GU Hourly.png Size: 181 KB
Good Trading. (keep it simple).
  • #46
  • Nov 18, 2009 10:56pm Nov 18, 2009 10:56pm
.. my last trade did not perform to expectations, fortunately I closed that very profitable long earlier in the day.
I now am looking at a level where I could expect a reversal, that level is 1.4890, if I get the right signals I will take a long there and post again.

Good luck to you.
Attached Image (click to enlarge)
Click to Enlarge Name: Nov 19th levels t note.png Size: 182 KB
Good Trading. (keep it simple).
  • #47
  • Nov 19, 2009 2:30am Nov 19, 2009 2:30am
GBPUSD went down to 6685 and made some beauty pips ... breakout then when london opened and volatility moved the markets. unhopefully i was asleep

well lets see what today will come.
consistency wins
  • #48
  • Nov 19, 2009 2:43am Nov 19, 2009 2:43am
Just gone long at 1.4867.
Attached Image (click to enlarge)
Click to Enlarge Name: Nov 19th 5min entry.png Size: 170 KB
Good Trading. (keep it simple).
  • #49
  • Nov 19, 2009 4:22am Nov 19, 2009 4:22am
Quoting Jasper
Just gone long at 1.4867.
Still in it ?

I would now wait to break to 4820-4800 for a long or wait for a retrace to 4895-4900 for a sell with the trend.

I'm also monitoring EurJpy if it breaks to 131.50-70, depending on price movement i'm in a long.
consistency wins
  • #50
  • Nov 19, 2009 5:10am Nov 19, 2009 5:10am
I really do like your journal.
Im watching it closely, keep the good work coming
Your views are very much appreciated.

and btw. your english is just fine, no need to be sorry
  • #51
  • Nov 19, 2009 6:01am Nov 19, 2009 6:01am
NZD/USD - Buy 7285 ... Limit around 20 Pips.

Also still watching eurusd/eurjpy..

take care in 90min. us unemployment claims ... volatility possible
consistency wins
  • #52
  • Nov 19, 2009 6:59am Nov 19, 2009 6:59am
NZD- I'm out +20

Wanted to take EURJPY but it turned a little bit too early.
consistency wins
  • #53
  • Nov 19, 2009 7:04am Nov 19, 2009 7:04am
Here a quick analyzis

1. 15min NZDUSD - nice multiple div + break of an resistance in a non volatile phase (90min before data and 2 1/2h before US opening) and good price action = bounce back

2. 4h NZDUSD - nice div + clear resistance area...
Attached Image(s) (click to enlarge)
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consistency wins
  • #54
  • Nov 19, 2009 7:11am Nov 19, 2009 7:11am
and i forgot to mention.

50 day moving average on NZDUSD is tested on daily basis, so this was a very high probability setup

This whole circumstances gives me confidence for sure ... so always take look overall the big picture for confidence for your trades.
Attached Image
consistency wins
  • #55
  • Nov 19, 2009 7:13am Nov 19, 2009 7:13am
Quoting Boutique
I really do like your journal.
Im watching it closely, keep the good work coming
Your views are very much appreciated.

and btw. your english is just fine, no need to be sorry
Thanks Boutique, im glad you like it, i will try my best to keep the journal updated
consistency wins
  • #56
  • Nov 19, 2009 7:21am Nov 19, 2009 7:21am
Quoting iTrader
Hi Activer,

I know what you are going through, i had the same phase as you did.

Its important to really watch the price movement. if its too fast let it go , dont trade volatile markets - whipsaws will kill you, also dont trade when there are news movements let the market calm down, i will give you an example by what i mean. I let the market make a trend ... till it really gets overbought, and then i measure the movement, whats going on in the markets ? is there a big reason for this movement (like rate change or some kind of big news) if...


Thanks for your example.
I need to do some practice
Try to understand English Try to understand Forex
  • #57
  • Nov 19, 2009 11:49am Nov 19, 2009 11:49am
Quoting iTrader
Still in it ?

I would now wait to break to 4820-4800 for a long or wait for a retrace to 4895-4900 for a sell with the trend.

I'm also monitoring EurJpy if it breaks to 131.50-70, depending on price movement i'm in a long.
Yes I am still in, the way it has been going I thought about returning at Christmas, to see if it had moved another 5pips.

I had 8 lots on, and have taken 5 lots out. Not too bad at all so far.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: Still In Nov 19th.png Size: 141 KB
Good Trading. (keep it simple).
  • #58
  • Nov 20, 2009 8:29am Nov 20, 2009 8:29am
My trades for today (attachment),... im off for the weekend.

i will explain some of the trades later maybe tomorrow when i find some time.

for now im going to have a barbecue with my wife and kids.

cu iT
Attached Image (click to enlarge)
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consistency wins
  • #59
  • Nov 20, 2009 11:30am Nov 20, 2009 11:30am
Hope that BBQ was good.

This is my last trade for Fri 20th, running quite well. Entered at what I thought was 1.4840, but got a fill at 1.4837 (8 lots).
2 lots off at 1.4848
2 off at 1.4873, 4 lots still on, I will probably close out before end of day. Have a good W/E.
Attached Image (click to enlarge)
Click to Enlarge Name: Fri 20th last trade of day.png Size: 212 KB
Good Trading. (keep it simple).
  • #60
  • Nov 23, 2009 12:32am Nov 23, 2009 12:32am
These are the levels I expect Price to go up from, today. 1.4811, already gone up, my analysis was made on Saturday. The next level is 1.4929, and I have just taken a long at 1.4938. Although my analysis was achieved by topping down from the Daily chart, I entered my trade off the 5 min chart.
Show below Daily & 15 min charts.

Good trading to you.
Attached Image (click to enlarge)
Click to Enlarge Name: Nov 23rd Levels.png Size: 189 KB
Good Trading. (keep it simple).
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