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S/D Zones, risk ratio = 3

  • #181
  • Aug 22, 2012 3:33am Aug 22, 2012 3:33am
Supply level reached (high from Asian session)

Sell @1.2477 (counter-trend so a bit risky)
SL 1.2505 (above round number)
TP 1.242x (keep an eye on the 1.244x)
  • #182
  • Aug 22, 2012 6:32am Aug 22, 2012 6:32am
Quoting landre
Supply level reached (high from Asian session)

Sell @1.2477 (counter-trend so a bit risky)
SL 1.2505 (above round number)
TP 1.242x (keep an eye on the 1.244x)
Finally closed at 1.2445 : + 32 pips. (demand level I don't want to anticipate the possible break of this zone).

Above we have the 1.2459 but well it's a bit tricky there, I will wait a bit for my next trade.
  • #183
  • Aug 23, 2012 1:58am Aug 23, 2012 1:58am
2 more trades yesterday:

A loser, I short during before NY session @1.2445 after the first test of 1.2430..I was aiming the 1.2417 but NY stopped me out @ 1.2462 : -17 pips

I trade during FOMC statement : I went long on the breakout @1.2490 and closed it at @1.2520 : +30 pips.

Yesterday : +32,-17,+30 = 45 pips

Some charts for this morning :
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.23.png Size: 95 KB
Click to Enlarge Name: eurusd 1h 2012.08.23 bis.png Size: 83 KB
  • #184
  • Aug 23, 2012 3:27am Aug 23, 2012 3:27am
While I was writing, they broke the 1.245x area so as I said I did not immediately short this area, I have waited a bit and I entered in a short @1.2561

Sell @1.2561
SL : above the high (don't want to move it too quickly to BE)
TP @1.249x : it looks like a strong move so we could see a retest of the FOMC break area.

EDIT : the 1.2536 is playing his role here..let's how if it's going to be broken.
  • #185
  • Aug 23, 2012 6:17am Aug 23, 2012 6:17am
Quoting landre
While I was writing, they broke the 1.245x area so as I said I did not immediately short this area, I have waited a bit and I entered in a short @1.2561

Sell @1.2561
SL : above the high (don't want to move it too quickly to BE)
TP @1.249x : it looks like a strong move so we could see a retest of the FOMC break area.

EDIT : the 1.2536 is playing his role here..let's how if it's going to be broken.
Still holding my short, still 1.2536 (+/- 2 pips) in play, still aiming for the 1.249x but well I am watching it closely as it's the second attempt to broke this area and another fail would not be good for my short..
  • #186
  • Aug 23, 2012 9:50am Aug 23, 2012 9:50am
Quoting landre
Sell @1.2561
SL : above the high (don't want to move it too quickly to BE)
TP @1.249x : it looks like a strong move so we could see a retest of the FOMC break area.
Stopped out there @1.2578 : -17 pips, not easy to trade during ranging day..
Don't know if it will go higher the 1.260x looks doable.

See you tomorrow,
  • #187
  • Aug 24, 2012 1:41am Aug 24, 2012 1:41am
Hello,

No charts today nothing has really changed since yesterday.
Levels from Asian session are : 1.2574, 1.2552 (that was the range of tonight)
The 1.2536 is still in play..

I'm not in a trade yet. We are next to a demand level but I wouldn't go long for the moment (umpteenth attempt)..
  • #188
  • Aug 26, 2012 3:10am Aug 26, 2012 3:10am
I did not post my bad trades on Friday...since Thursday I have been targeting the 1.248x area (previous break) but on Friday I don't know why I went long two times (1.253x, 1.251x) and when I finally decided to short the pair it reached the 1.256..
So : - 50 pips on friday (2*-15 pips and -20 pips on the last one)..

This week : -35,+93,+32,+45,-17,-50 = +68 pips.
6 losers and 4 winners. It's still not enough, I think I'm doing quite good tu spot the areas of interest but I still need to work on the emotional stuff..I could really do better if I was more patient and if I was only trading what I see on the charts..
  • #189
  • Aug 26, 2012 3:48am Aug 26, 2012 3:48am
Some charts for tomorrow morning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.27.png Size: 88 KB
Click to Enlarge Name: eurusd 1h 2012.08.27 bis.png Size: 87 KB
  • #190
  • Aug 27, 2012 2:51am Aug 27, 2012 2:51am
Hello,

Buy EURUSD @1.2500 (before London open)

TP : 1.253x but well there is a news in 15 min that could have some impact (German IFO) and there is the 1.2524 from yesterday session so well not easy here to spot the good level to take profit. Above we have the high from NY session on Friday (1.2562).
SL : 1.2484 (below the today low), it looks like 1.2489 is a key level now so a break will open other levels like 1.244x or at least 1.246x

I was wrong about the London Open yesterday, I thought as London was closed we would not see a move at the open in fact it looks like there is one. That's why I bought before London Open, I thought it was going to bounce on the 1.2496 but it went a bit lower (1.2489).

EDIT : Phanti has published his new e-book, you can find some stuff about S/D http://www.forexfactory.com/showthre...50#post5954350
  • #191
  • Aug 27, 2012 3:13am Aug 27, 2012 3:13am
Quote
Buy EURUSD @1.2500 (before London open)

TP : 1.253x but well there is a news in 15 min that could have some impact (German IFO) and there is the 1.2524 from yesterday session so well not easy here to spot the good level to take profit. Above we have the high from NY session on Friday (1.2562).
SL : 1.2484 (below the today low), it looks like 1.2489 is a key level now so a break will open other levels like 1.244x or at least 1.246x

Closed @1.2527 : +27 pips
Always surprising the reaction to bad German IFO..
Anyway I took profit here, as I said I was not sure between the 1.2524 and 1.253x so I closed between these areas..

I may go short soon at 1.253x something, I am waiting for some signs of weakness because at the moment the move is quite strong.
  • #192
  • Aug 27, 2012 6:48am Aug 27, 2012 6:48am
Quoting landre
I may go short soon at 1.253x something, I am waiting for some signs of weakness because at the moment the move is quite strong.
Sell EURUSD @1.2530

SL : 1.2542 (above the 1.253x area)
TP : well 1.248x looks attractive so I will keep an eye on the 1.2510.

In fact I opened this trade 2h ago, I was away from the keyboard when the pair went to 1.2513 (my TP was set at 1.2512..) so the situation is not that clear here. The pair is testing again the 1.253x, this supply area is looking strong but the volumes are low.
Until NY I don't expect big moves so if we get back to 1.2515 I may be cautious and close my trade.
  • #193
  • Aug 27, 2012 10:59am Aug 27, 2012 10:59am
Quoting landre
Sell EURUSD @1.2530

SL : 1.2542 (above the 1.253x area)
TP : well 1.248x looks attractive so I will keep an eye on the 1.2510.

In fact I opened this trade 2h ago, I was away from the keyboard when the pair went to 1.2513 (my TP was set at 1.2512..) so the situation is not that clear here. The pair is testing again the 1.253x, this supply area is looking strong but the volumes are low.
Until NY I don't expect big moves so if we get back to 1.2515 I may be cautious and close my trade.
Still holding my short, I did not close it at 1.251x area that the pair is currently testing..
I'm aiming 1.2496 so I set TP @1.2500
SL moved to BE

Today I thought the morning would have been boring and the afternoon a bit more attractive but well it was the opposite..
Not a bad day even this last one doesn't reach my TP, I have at least made some pips this morning.
  • #194
  • Aug 28, 2012 1:38am Aug 28, 2012 1:38am
Hello guys,

Surprising Asian session with a big bear move, did I miss some news ?

Quoting landre
Still holding my short, I did not close it at 1.251x area that the pair is currently testing..
I'm aiming 1.2496 so I set TP @1.2500
SL moved to BE
1.2496 reached : +30 pips..a good trade to improve my patience skills (8h to get 30 pips)..

Chart for today..
I won't go short here it doesn't offer a good R:R, I'm aiming for the 1.244x and I will probably look around the 1.2505-15 area to go short.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.28.png Size: 93 KB
  • #195
  • Aug 28, 2012 4:45am Aug 28, 2012 4:45am
Quote
I won't go short here it doesn't offer a good R:R, I'm aiming for the 1.244x and I will probably look around the 1.2505-15 area to go short.

What a move this morning, summer is over.
I was completely wrong with my bearish view or maybe I will be right later but my areas were not well spotted.
So as I said I tried one short @1.2510 got stopped out @1.2525 : -15 pips
and then I try another one @1.2535, I'm still in with my SL at 1.2570 (above the previous high from Friday)..
I hope some of you catch the move this morning, the three last hours candles are a bit frightening for my short.

This bullish move needs to confirm the break of the 1.253x to go above the 1.256x.
Maybe I could close my short @BE.
  • #196
  • Aug 28, 2012 8:35am Aug 28, 2012 8:35am
Quoting landre
This bullish move needs to confirm the break of the 1.253x to go above the 1.256x.
Maybe I could close my short @BE.
We test this area but I did not close my trade.. -17,-35 = -52 bad day for the end of the summer.
I have to work on my areas for tomorrow. I don't really know what to expect for NY session, I would not go long here the next supply level is around the 1.258x so it looks risky to go long here.

I hope that I did not get stopped out at the top of the move...
  • #197
  • Aug 29, 2012 5:55am Aug 29, 2012 5:55am
Hello guys,

No trades today yet.

Things have not changed much since my last chart.

The 1.253x is the area to watch, nice rejection this morning but well the pair got stopped by the 1.257x area..
I would keep an eye on the low from Asian session 1.2554.
About the 1.253x area maybe the key level could be 1.2541 which is just above.


My trades record since I have started this journal (1st post) :
Trades record

Last Update : 27/08/2012

Number of trades : 104
Winners :36
Losers (BE included) : 68 (14)

% Winners : 35 %
% Losers (% BE) : 65 % (15 %)

Total Pips : +264 pips


I'm still far from winning consistently +264 in 2 months it's not enough, I mean with day like yesterday (-58), almost 25% of my profit is gone so well. I'm still aiming for at least 500 pips a month.
  • #198
  • Aug 31, 2012 1:42am Aug 31, 2012 1:42am
Hello guys,

Last day of the summer, with BB this afternoon it's going to be an interesting Friday.
Be aware it's Friday so markets can do anything and can be "wrong" during the whole day..I have often lost many pips during Fridays..
A quick chart 1h.
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd 1h 2012.08.31.png Size: 90 KB
  • #199
  • Aug 31, 2012 4:05am Aug 31, 2012 4:05am
Lost 37 pips here with two shorts..Sell @ 1.2518 and @1.2525 with SL @ 1.2540 above 1.2536.
It's Friday and I hate Fridays..We are back at yesterday's levels..
  • #200
  • Aug 31, 2012 1:01pm Aug 31, 2012 1:01pm
I did not trade this afternoon.

End of this week : +27,+30,-52,-37 pretty bad week : -32 pips.
2 winners and 4 losers.

Keep an eye on the 1.256x for the close of today, it's the breaking level of this morning and on a Daily chart it's an important one too.
Next there is plenty of news, it should be interesting.

See you on Monday,
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