Pete's Forex Trading Journal

EJ looks good for a short and it seems GU H4 is looking good at that 50% line after all, may have a second chance for entry, lets wait and see how all the H4 closes in about an hour.

EDIT: mistype, eu not ej

Nice short trades on all the following currencies. GJ is interesting, a bounce off weekly demand turned supply (blue area). A good example indeed. Simple trading, all that is needed is patience.

GU daily is showing a key reversal day if my day closes in 2 hours, if so then I'll be looking for long positions for today.

Not sure how to see H4 for a trade yet, market approaching weekly 50% area so possible shorts, just have to wait a while longer for Frankfurt and London to open to see if anyone is shaking the apple tree for some tasty morsels to fall. Paying attention to news today too.

my GU looking good so far. 1 hour just closed about supply turned demand.

Took profit on weekly supply area (in blue).

I saw five min candles close red and I saw on 15 min closed below this area.

As I'm typing this, I see price jumped through this level, sods law! Still happy with the 1:6 RR.

Maybe one more punt too squeeze everything out of this long

H4 closed below weekly supply so let's see if any short opportunities.

Whoops forgot to add that gbp news in about 20 mins.

A quickie scalp or just leave it with a tight stop ...... ?

leave it for now, there hasn't been a correction in 3 hours

In all honesty, I have no idea what direction the H4 is showing now. Seems like a tough fight between the bulls and bears.

Gonna wait for a breakout and trade what I see. After a gain of 100 pips today, feels like I need to trade, I glad I'm jotting these thoughts down especially for public viewing. For some reason my trading has improved 10 fold, maybe because talking this plan out in my head to my peers and making the plan concrete whilst I type. Very powerful indeed.

Even though I mostly concentrate on GU, I've just had a gander at the other currencies and they all tell the same story, price makes new high, breakout, reverse, seems very easy to trade and yes in hindsight but I can in my mindseye where from and to. Goes to show that screen time, lots of screen time is so friggin important to succeed in this business.

Looks like GU is on its way, just had to wait and wait for an entry

I've been looking at the aussie dollar lately and looks like a very predictable currency to trade. I didn't take this short but I did see it a mile off. Just watch smaller tf for entry. Profit margin area (green to green) is enough and makes it a viable trade too.

Too much yapping, too much sleeping. The GU reversed whilst I was zzzz I noticed that price reversed to the long side above the 50% area, H4 closed above this and very bullish. I closed my short in profit. I did not look to the left and see the bullish momentum candle 25/11 00:00. I have to make a note and must remember to do this ... always!

I was beginning to lose the big picture so I spent some time going over my charts again and marking up what I think are important areas to trade from ... again. I find by doing this, you have a better sense what's happening.

Now I notice from looking at the weekly again that this week is steadily pushing up and price has pushed to the extreme of the week starting 8th Nov. I also have downward momentum week (starting 15th Nov).

I think one of these 3 things should happen at the close of this week:

1. price closes between top weekly supply and 6621 (50% of the 15th bear candle) so a short feel for next week (with some caution owing to the overall trend)

2. price closes below 6621, high possibility of shorts for the following week

3. price closes above the weekly supply area I marked up, BO?

The fourth is that price could turn south hard below the last weekly pivot so if that's the case I'll be there though not much news for that to happen. Anyone thinking gold is going south anytime soon? every time I turn on news gold is at a record high bla bla bla (and oil is creeping up) but maybe market makers are giving a false impression ... mmm

Ok, intra day stuff.

I see daily hit the bear candle 50% and market has retraced nicely for about 60 pips so far. My daily is going to close in over an hour. If candle closes below weekly support (in blue) and in the daily supply (in orange), even better to concentrate on shorts today.

Cautious because of public hols in the US, maybe no players around. If that's the case maybe siesta for moi too

H4 also supporting shorts today. My H4 is going to close under H4 supply in green at the top in about 7 minutes. Must be a strongish level to break through.

yuck! too much yapping and missed the party

nice short entry

I took profit close to the H4 50% line, since US is on holiday, I decided it was enough for today and just lay back and watch. Time to listen to music and relax for a while.