Twitch Journal - Live Journal 4 replies
Another Trading Journal - Yuhu's Journal 16 replies
DislikedAfter hitting the retracement level of 78.6% on the daily, the GBPAUD pair has resumed its move down. Therefore, going with the trend. Although at one point came awfully close to being stopped out.
[email protected] 1.5351 for a TP 1.5279; S/L 1.5394
My Risk=$43.00 & Reward=$72.00.Ignored
DislikedThis is my first trade. EURNZD is the pair. Since I have started trading on Daily TF, I have posted the relevant daily TF chart. Where ever a zoom-in is required to pin point the exact point of Buy/Sell, I will make sure I include the H4 chart too. I will never go any lower than H4 charts.
Although it was counter-trend, I bought @ 1.5563(H4 support zone) for a TP 1.5629; S/L 1.5497
My Risk=$66.00 & Reward=$66.00 making it a R/R of 1:1.Ignored
DislikedI traded the EURCAD this time. I knew price being awfully close to the triple top resistance had to definitely test it before moving either way. I took an opportunity to buy up on a small correction on H4 as indicated by the rectangled box in the H4 chart.
[email protected] 1.2963(H4 support zone) for a TP 1.3011; S/L 1.2940
My Risk=$23.00 & Reward=$48.00 making it a R/R of slightly over 1:2.Ignored
DislikedEURGBP - The Violent beast!
Although the trade is now live, I feel I shouldn't have taken it in the first place till it actually broke through the triple top formation.
The reason I took it in the first place is because price tried many times to go into an uptrend(as shown by the "MAGIC" moving averages) and for the first time, price looked good to break through the triple top resistance as is shown by the cross over of moving averages.
Well, there is nothing I can do now. For me the trade either hits the S/L or T/P - No messing with them till...Ignored
DislikedNZDCHF this time. On the daily, this pair is coming down from a triple top formation contained in the retracement of a impulse move. So this time, I am going with the trend. From the H4 chart, you will be able to see in the colored box, the retracement zone. All I had to do was to wait for price to again enter this zone and give me a continuation signal which enabled me to go short.
SOLD @ 0.7766(H4 resistance zone) for a TP 0.7704; S/L 0.7805
My Risk=$39.00 & Reward=$62.00.Ignored
DislikedAUDCHF made a Double bottom formation at the significant 61.8% retracement of the bullish impulse wave from May 18 to Aug 2 (2012)
The actual retracement was all the way down to 78.6 level but I thought 61.8 was a good level to buy this pair. This Fib level is also in great confluence with a core horizontal support.
BOUGHT @ 0.9647 for a TP 0.9708; S/L 0.9620
My Risk=$27.00 & Reward=$61.00.Ignored