(binned per thread starter’s request) GEfx Trading Journal

This is trading analysis using only a few tools. I add fib analysis and more S/R analysis to my charts. I then trade the 1H trend if it shows signs of strength.

hi GEfx,
again nice view on Euro charts. if you won't mind me asking, what's your view for 5m dancers... in relation to your current perspective...

regards,
dongsky

I know there are many people who enter and exit trades on the 5M, and in some cases even lower. If they can make that work, then more power to them. I enter and exit on the 10M chart, which is smoother for my way of trading. I trade the 1H and 4H charts, however, and try to maintain that perspective throughout the trading day.

My primary trading chart has 10M candles (with some indicators inbedded in them), two moving averages from the 30M chart, two moving averages from the 2H chart, a single MA from the 4H chart, a MACD from the 1H chart, and several other indicators from the 1H chart. I draw fibs, trends and S/R from the Day, 4H and 1H, along with several other tools that I use. All this helps me move my perspective from one time frame to the other fairly quickly. The basic idea is to watch PA as it arrives at certain and specific price levels, and observe indicators only when they "switch on" in upper compressions (indicators lose their value pretty quickly). In addition, I have 8 other charts that I'd call secondary charts that I use throughout the day, each showing some other important perspective of market action. Of course, PA and market structure tendencies are the kings of all "indicators".

So to answer your question, I do not use the 5M chart in any trade set up, but know it is very useful for some traders here.

Thought I'd post my trades on the Euro from this morning. Two nice trades on the turn South.

Trades the retracement of the E/$ today. A little choppy but I found two trades. Here they are:

Hi GE,
that's a nerve racking EU market yesterday... but i too participated and manage to get in discounted price... entered at 1.3830 after the first leg formation - during retracement...

just move my scout to BE and scale down exposure this morning... bringing L2 & L3 back home at 1.3780.

honestly, after i read your journal, i have been using fib retracement tool... for further timing my dance

regards,
eddy

... keep it coming... that i can compare notes with you...

Many thanks for your chart and all the best with your trading. Ray

Three trades today on cable, using only trend lines, candle patterns and fibs:












Since the close of trade 3, the market has drifted back to a .382 fib where it seems to find short term support.

Here is what I was looking at that provided the frame work for me to short eurusd. I actually exited right around the DPP. This market is super slow today. Probably wasn't the best move to exit but I want to call it a day.

I'm not sure why my pivot charts and dollar index are coming up so small if you zoom I think you can see them as they should be.

Good Trading,
Adam

Two trades on the E/$ today. Quick summary of early London analysis as follows: 4H and 1H trends were both up, but a retracement was underway with a hit of the .382 fib, targeting the .50 fib around 4165. Looking for reasons to buy, but would sell an opportunity at a low risk price point (ie, strike of channel wall, etc,). Two trades, both for 25 pips each.

Waiting for NY open now. No charts this morning but two trades to discuss.

First, the GBP/$ trade. After the London FA, cable broke south and I entered a quick short trade on the pullback (to the .50 fib at 1.6309) at 1.6307. Target was 20 pips and got them when pa moved back to the developing bear flag up trend line.

Best trade of the morning was on the $/Yen. Trend is up on 4H and 1H as the Day continues to retrace. Yen pulled back to exactly hit the .50 fib at 84.84 where I went long at 84.86. Target was the newly formed .50 fib at 85.18, which was hit. Yen may be forming an up channel now, but am waiting for more developments before next trade.

Good to see you back in your journal!

Hi auxesis, good to hear from you. Hope all is well with you and your family.

Final trade of the day, and I have pictures!

GBP/$ long on the retrace to the .50 fib after the channel breakout. Targeted the -.27 fib extension. Pretty tight stop below the .786 fib.



Done for the day.

Good day to trade conservatively as there was not much direction nor much room for trades today. I traded the GBP/$, $/CAD, and the EUR/$ in low risk and low reward trades, risking no more than 15 pips per trade, but also getting only 15-16 pips per trade. Drew channels and fib ranges to catch bounces, while keeping a close eye on dow futures and the dow index after NY open. Two losses (-31 pips) and 5 wins (84 pips) for a net of 53 pips. Done for the day.

Was working my charts while watching baseball tonight and caught this trade on the E/J. Entry was on the strike of the .50 fib and I got in at 122.04. The target was the -.27 fib extension, 55 pips away. Only slighty sorry that I did not target the -.618 - LOL.

Attachment

Was working my charts while watching baseball tonight and caught this trade on the E/J. Entry was on the strike of the .50 fib and I got in at 122.04. The target was the -.27 fib extension, 55 pips away. Only slighty sorry that I did not target the -.618 - LOL.