Amyc Trade Journal

Amy, I hope you don't mind me putting up a chart here but I thought it was important enough to share with you. I cleaned up the indicator sub graph that I use. Too much explanation shouldn't be needed. Notice when red crosses green and vice versa.

Hi Marc

Post away that is fine.

I see what you mean but i have to view the euro still in a bearish light this week as it opened the week under the weekly pp, to me that means that 1.32 is within reach this week. But I will be taking smaller and more frequent profits this week as I suspect it may range more than trend and we may not see 1.32 until Friday if at all.

I have closed all eu shorts now and am flat. 1.3414-30 is where i am interested in placing my first short for the week.
I have closed all aud shorts this morning at 9260 and taken longs targeting 9340.

I have taken a long at 1.3371 on EU targeting 1.3314. SL 1.3360.

Charts for above trade. 1.3371 is also Mondays pp based on gmt midnight.

lowered my stops on eu to 1.3335. price has moved below 1.3371 and so is likely now moving to daily lows at 1.3342. Moving my stops below here is still risking less than 1% of the account.

Stopped at 1.3342 on daily lows for -30 pis, reversed into shorts current stops 1.3355. Target 1.32.

Longs countertrend and on a week that pointed to weekly lows was a really dumb idea, the next dumb bit was moving the stops. I should have only been looking for somewhere to trade shorts from not trying to pick up 50 pips on a long.

Stopped on eu short at 1.3310 +20 pips. No more trades after that last night.

The euro is starting to reach an area I am more interested in for shorting.

I will be playing 2 strategies from here

1) a short term trade down to 1.3200 which is the weekly lows. For this I am looking for 1.3426-32 to take a short with a tight stop around 1.3450.

For eu I still think this is going to be a choppy week so I will be taking profit on these shorts on 40-80 pip intervals and re adding when i see appropriate. I think next week is more likely to trend down again.

2) longterm shorts to be held down to 1.3128 which is Q2 lows, for this account I have taken one short so far at 1.34 and will add more as it goes up. If it starts to trade above 1.3460 then I would look at taking some losses as it will probably head up further before going down.

AU, still holding longs looking for 9340.

Aud is currently bouncing off the daily lows, I have added to my longs at 9250, if it can have a 4hr close above the 4hr midpoint in 1 hours time then this should continue to move up into weekly highs at 9347, but if it closes below then it will probably go to 9332 which is an 80 pip swing low. I will look at adding more here if this happens.

What is your 4hr midpoint on A/U?

9262, so it is below that but it is a 4hr close above the daily lows after testing them so i will hold my longs for now and see if it can start trading above 62

also eu is looking bullish for the london session so that might pull au up

EU longs off dp, stops 1.3355. Targeting 1.3420, from around that area I will start to look for shorts.

I think that EU needs to move back into 1.3426-32 before shorts can be taken this week. That is the reason for the longs above.
A bounce off the blue lows and friday close above means that price should at least touch the blue midpoints before selling down for the next leg again. I won't take a full short position until these levels are touched.

stopped on eu for -2 pips, reentered long at 1.3346, resistance turned support from friday, same tp stops 1.3320.

I was enjoying reading all your posts. Asit stopped so abruptly I'm hoping that you are ok and will resume your trading journal.

Hi Amy, Do you have any thoughts on A/U or E/U this week?

Hi Marc

AU should head down into 9140 this week but its tricky trying to get an entry with the rate announcement today, i am holding a couple of shorts from 9270 but i am going to wait until after the announcement to add any more. No matter what the news I can't see the market going up on it bc even if they raise again that will be 3 in a row so i doubt there will be much talk in the statement about further rises in the next few months.

EU bottomed nicely at 1.3128 last Thursday which was the lows for Q1. This week i am looking for a countertrend move back up to 1.3426, but it has also opened the month under the may pp so it will visit 1.3079 during May. So just need to decide whether it will do down then up or up then down. I have a long currently off 1.3160 testing out the upside.

what are your thoughts?

Hi go4pips

I am fine just needed a bit of a break from it thats all. I'll do some more posting from now on.

Glad you gave your thoughts because I was about to buy A/U! Look at the H&S on the M15.

there is a possibility it heads up closer to 93 before selling down but i think it is a waste of time trading it before the rate announcement as it will probably stay in the same 5 pip band

euro is still bearish, if it had of been above 1.3212 at gmt midnight then i would have held my long but an open below here means it is biased down towards 1.3152. cashed in my long and switched to shorts at 1.3210. sl 1.3230.