jpa0827 Trading Journal

Sold the NZD/USD around 6 pm tonight based off of a five minute pin that was at a strong resistance level. With a small stop I took advantage of it. I saw a huge surge up on the 1 hr after the daily close, which was below the 7000 RN which to me means it will go back below that. Because the 1 hr surge up into the major resistance, I decided that it need to at least retrace and that if it did by 9 pm, which is 5 min. away, we could see a pin bar with the bearish trend. Right now it is shaping up that way. Entry was at .7016 stop was above the 5 min pin at 7030

stop is at Break Even (BE)

well not a perfect close but it might work. If not, the trade is free so who gives a damn. 2 lots on

i may throw 1 more lot on if the pin breaks to the downside and is validated. Still deciding....hmm.... I guess i'll be watching the PA and the momentum of the move to decide.

Added on more lot off of 5 min chart PA at MA's might take it off if pin bar struggles to break downward

I hate it when is in my favor and then reverses and hits my BE. Thought this one was going to be really good. May get back in if decent setup arrives

got back in where I was stopped out. i think it was the top of a bearish flag. Hopefully this isn't overtrading and comes back to bite me in the you know what.

stopped out lesson learned

Short the kiwi .7027 stop at .7036 with 3 lots. short term momentum is to the down side. 4 hr chart looks good. Wish i would have been around for the 1 hr pinbar. Damn work always gets in the way of my trading haha. target is open. getting to BE ASAP. .7000 will be closely watched. 1 hr just closed below the last few consolidating bars. 4 hr just broke lower. now we'll just sit back and see what happens.
Trade could get hung up in this consolidating area. might just be a false break.

stopped out of nzd/usd

Trade broke quickly to down side then reversed.

SHort from Pin at .9112 level. Today made a massive up move so I decided this was a good level to sell into because it was due for some retracement.

Also this trade had divergence which was a reason to go counter trend as well.

exited at about 55 pip profit. setting an alert in case price rises a little for me to sell again possibly. we'll see though. I exited mainly because we are approaching a pivot point and the 15 min chart just had a BUOB so or engulfing bull bar so just playing by ear. happy with my trade overall. Just kept bumping stop up as i went.

Just went short at .9092 about a 10 pip stop. 5 min. chart trade. Price is near the highs and stalled out today with a small daily bullish pin at the swing high which to me can be bearish because it didn't break or hold above the high of yesterday. Although no specific PA on this trade. I'm jumping in with the momentum of the most recent moves from the top. Plus I see some divergence on the RSI. We also just broke and held below the pivot zone on the 5 min chart. lets see what happens. target is open as right now. First I need to get to BE ASAP. 4hr chart might be making a double top as well.

I took a quick levels trade on the GBP/USD but was just barely stopped out. looks like it is going where I thought but oh well. The AUD/USD looks better to me right now anyway.

Stopped out. still will be considering a short.

I'm thinking I might be staying out of the market the rest of the night b/c its all just consolidation until NFP.

Well, I've been looking back on the past two weeks with my little 5 min shorter timeframe trading and have realized that I really like it a lot, because the risk to possible reward is much much better. I have made some notes of things I need to watch out for though. First, I need to watch that I don't over trade. Second, I need to use the 5 minutes only when I see a great daily or 4 hr setup, maybe even a great 1 hr setup. Especially Pins. Those seemed to be my most successful trades. What I have learned that is so great about this style of trading is that I can get a really nice size position with a tight stop; therefore when price does go in my favor i can take a big profit (for me) which cushions me for all the future small losses that I WILL make. If I make 50 pips on one trade it gives me room to make 5 ten pip losses, but hopefully I wont make 5 in a row all the time. I am learning that the key for me is to start with a small position with a high timeframe setup and then zoom to 5 min for first entry and see if i am correct then Add quickly and move to BE ASAP. Then its a nice emotion free and possibly very profitable trade. I will be back and forward testing this for a little while. I do need to stop trading just to trade though. I can see that has been a weakness with this new strategy, which is why i will be going back to looking for signs/signals on high timeframes, before I scale in with the 5 min entry.

I've made 2 trades today short the AUD/USD. I sold at about the break of the pivot line earlier tonight. My reason was the break of a wedge or triangle that it was forming on the charts. It broke down and held so I went short with about a 10 pip stop. Then I exited at about the top of the consolidation area. because it was getting close to a support zone and I was starting to see divergence on the 1 min and 5 min chart. Then I sold again because the 4 hr bar closed nicely and I figured I could get back in at around a 50% retrace of the bar which happened to be close to the Pivot line as well as the 21ma on the 1hr. Plus it would be another retest of the triangle that formed the last day or so during the labor day holiday. Also I had been watching the 4 hr because I noticed some divergence between price and the RSi. I am now short from .9158 and hoping to move to BE fast and hopefully hang on to this one if it makes sense.

well got stopped out on a huge surge in price when BOJ announced not to change their rate. not sure what that has to do with the AUD/USD. but oh well it is what it is. basically just canceld my first trade out.

Although I was stopped out of a great trade last night right before the drop (figures haha) I did get back in short this morning at around .9141 and am currently still short. although I exited my original position tonight and just reentered on the minor retrace it just made. I may have to tweak my entry but we'll see. this is an area of interest and it is resistance from MAs and Pivot zone plus bar lows so we'll see.

Looks like the 21MA on the hourly chart may have been the resistance. That is basically where I entered on this retrace. now letting my trade play out. news release at 9:30 so hopefully it is in my favor.

stopped out