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Start of my journey towards profitable trading with PA

  • #101
  • Jan 31, 2013 10:24am Jan 31, 2013 10:24am
Quoting keroro0o0o
New 1H trade: USDCAD

Pending Buy limit @ 1.0006

Reasons:
1. Nice level of confluences: BRN 1.0000 + Previous R with 3 touches + 50% fib ret from most recent uptrend
2. SFP

Could have played a blind trade here, but did not spot the setup. Let's see if my order gets triggered before price hits my TP.

If TP is hit before my buy limit is filled, I'll cancel the order.

Attachment
SL hit. SFP didn't work out, most probably because RR was a better play here. The reaction of the price took price towards FTA, consuming the supplies (Sell orders) and price accelerated downwards.

Now that price broke through a good support/PPZ level, wait for a RR for a short entry.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 95 KB


This trade marked the 9th consecutive losses, which showed how inexperience I am, and how being as discretionary/disciplined is SO important!

I'm glad that I'm taking such a beating during demo, so that I can learn from my mistakes, and gain more experience through the journey.

Moving on...
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #102
  • Jan 31, 2013 10:37am Jan 31, 2013 10:37am
New 1H trade: USDCAD

Pending Sell @ 1.0007

Reasons:
1. Nice level broken. Previous R was 4 touches.
2. Plenty of space below for price to move.

Looking for a butt kiss/RR move.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 102 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #103
  • Jan 31, 2013 7:07pm Jan 31, 2013 7:07pm
New 1D trade: USDCAD

Buy @ 0.9969

Reasons:
1. DCC of S at double D HCR level.
2. In line with 50% fib ret (not shown in graph)
3. With current uptrend.

Attached Image
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #104
  • Jan 31, 2013 9:09pm Jan 31, 2013 9:09pm
Quoting keroro0o0o
New 1D trade: EURAUD

Pending buy limit @ 1.298

Reasons:
1. Strong close above BRN 1.3000
2. PBT & CA D+W HCR level
3. Plenty of space above
4. Perfect H & S pattern

Attachment
Missed the buy order by 8 pips, and price bounced.

Order cancelled, and will wait for price to form RR, and preferrably SFP back to the 1.298 level.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 31 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #105
  • Feb 1, 2013 3:00am Feb 1, 2013 3:00am
Quoting keroro0o0o
New 1D trade: USDCAD

Buy @ 0.9969

Reasons:
1. DCC of S at double D HCR level.
2. In line with 50% fib ret (not shown in graph)
3. With current uptrend.

Attachment
Price broke out of small ascending triangle. Price retraced back to the neckline.

Moved SL to below prevoius bar lows @ 0.997 (BE + 1), as a break below this area means a false breakout of the ascending triangle, and bearish.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 44 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #106
  • Feb 1, 2013 7:02am Feb 1, 2013 7:02am
Quoting keroro0o0o
Price broke out of small ascending triangle. Price retraced back to the neckline.

Moved SL to below prevoius bar lows @ 0.997 (BE + 1), as a break below this area means a false breakout of the ascending triangle, and bearish.

Attachment
Update on 1D USDCAD trade:

Monitored price closely, and found that price found a small R at my TP/BRN 1.0000.

Did not want to endure the drawdown, so manually closed at 0.9997 for 1R profit.

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 102 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #107
  • Feb 1, 2013 7:06am Feb 1, 2013 7:06am
Quoting keroro0o0o
New 1H trade: USDCAD

Pending Sell @ 1.0007

Reasons:
1. Nice level broken. Previous R was 4 touches.
2. Plenty of space below for price to move.

Looking for a butt kiss/RR move.

Attachment
Cancelled order because it's Friday + NF employment coming out.

Don't want to trade the news
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #108
  • Feb 1, 2013 9:51pm Feb 1, 2013 9:51pm
Quoting keroro0o0o
Decided to call take this buy limit order off. as price might already being worked out off the S. Wait for the next retest for PA for a trade.
Would've been a nice trade if I paid attention to the 1H/4H signatures of confirming the W + M HCR level as S for a Long entry.

Now price made a new DCC + 4H signature, confirming D + W HCR as R. Will look for a short entry depends on Monday's open.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 110 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #109
  • Feb 1, 2013 9:59pm Feb 1, 2013 9:59pm
Quoting keroro0o0o
Strong close above the zone. Manually closed position for 0.4R loss.

Attachment
This trade was a mistake, as price already reacted at the area near to the level of interest.

In this case, price did not accelerate towards the level, and the previous reaction showed that supplies (sellers) were consumed, and buyers are gaining momentum to breakthrough.

Attached Image (click to enlarge)
Click to Enlarge Name: GBPUSD.jpg Size: 87 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #110
  • Feb 1, 2013 10:12pm Feb 1, 2013 10:12pm
Quoting keroro0o0o
New 1D trade: EURAUD

Pending buy limit @ 1.298

Reasons:
1. Strong close above BRN 1.3000
2. PBT & CA D+W HCR level
3. Plenty of space above
4. Perfect H & S pattern

Attachment
Missed my Buy limit by 8 pips, and price took off without mercy.
Taken the Buy limit order off.

Now price formed DCC as R at a strong D LSC/HCR combo.

Will look for a short entry depending on Monday's open (gap).
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 116 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #111
  • Feb 1, 2013 10:13pm Feb 1, 2013 10:13pm
Quoting keroro0o0o
Update on USDJPY:

Price broke through the PPZ, and closed above.
Next bar found support at that level.
Manually closed for a 0.6R loss.

Attachment
This trade was a mistake as well. It did not fit my rules of 1H trades entry of taking only SFP/RR.

This was a PPZ TT, which was highly risky without any PA candles.

Lesson learnt.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #112
  • Edited 5:50pm Feb 3, 2013 4:54pm | Edited 5:50pm
Quoting keroro0o0o
Would've been a nice trade if I paid attention to the 1H/4H signatures of confirming the W + M HCR level as S for a Long entry.

Now price made a new DCC + 4H signature, confirming D + W HCR as R. Will look for a short entry depends on Monday's open.

Attachment
New 1D trade: NZDUSD

Short @ 0.8461.

Reasons:
1. SFP
2. DCC of D + W HCR level as R
3. MACD bearish divergence.
4. Gap

FTA @ 0.8438 at multi previous bar highs (Strong R). Will close half position here and move SL to BE.

Attached Image (click to enlarge)
Click to Enlarge Name: NZDUSD.jpg Size: 117 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #113
  • Edited 5:34pm Feb 3, 2013 5:01pm | Edited 5:34pm
Quoting keroro0o0o
Missed my Buy limit by 8 pips, and price took off without mercy.
Taken the Buy limit order off.

Now price formed DCC as R at a strong D LSC/HCR combo.

Will look for a short entry depending on Monday's open (gap).
New 1D trade: EURAUD

Pending Sell limit @ 1.314

Reasons:
1. DCC of R at strong D HCR/LCS level.
2. SFP
3. TL rejection

FTA @ 1.3070 at previous bar high for trade management. Either move BE or take partial profits.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 122 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #114
  • Feb 3, 2013 5:31pm Feb 3, 2013 5:31pm
New 1D trade: USDCAD

Pending Buy limit @ 0.9965

Reasons:
1. DCC of S at D + W HCR level
2. RR to previous R
3. Retracement of double bottom breakout

Will close half position at FTA/BRN 1.0000

Attached Image (click to enlarge)
Click to Enlarge Name: USDCAD.jpg Size: 122 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #115
  • Feb 3, 2013 9:09pm Feb 3, 2013 9:09pm
Quoting keroro0o0o
New 1D trade: EURAUD

Pending Sell limit @ 1.314

Reasons:
1. DCC of R at strong D HCR/LCS level.
2. SFP
3. TL rejection

FTA @ 1.3070 at previous bar high for trade management. Either move BE or take partial profits.

Attachment
Price hit FTA before taking my order. Cancelled the sell limit order.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #116
  • Feb 4, 2013 2:46am Feb 4, 2013 2:46am
Quoting keroro0o0o
New 1D trade: NZDUSD

Short @ 0.8461.

Reasons:
1. SFP
2. DCC of D + W HCR level as R
3. MACD bearish divergence.
4. Gap

FTA @ 0.8438 at multi previous bar highs (Strong R). Will close half position here and move SL to BE.

Attachment
Closed half position at FTA @ 0.8438, price reacted almost instantly at FTA.

Tightened SL to above 4H bar highs @ 0.437.

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 19 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #117
  • Feb 4, 2013 3:28am Feb 4, 2013 3:28am
Quoting keroro0o0o
New 1D trade: USDCAD

Pending Buy limit @ 0.9965

Reasons:
1. DCC of S at D + W HCR level
2. RR to previous R
3. Retracement of double bottom breakout

Will close half position at FTA/BRN 1.0000

Attachment
Triggered. Let's see.
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #118
  • Feb 4, 2013 7:13am Feb 4, 2013 7:13am
Quoting keroro0o0o
Price hit FTA before taking my order. Cancelled the sell limit order.
Update in EURAUD:

Price took off nicely without taking me on board.

Now price reached D+W HCR & BRN 1.3000. Strong level here.

Will look for 4H signature/PA for LONG entry.

Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 115 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #119
  • Feb 4, 2013 8:07am Feb 4, 2013 8:07am
Quoting keroro0o0o
Update in EURAUD:

Price took off nicely without taking me on board.

Now price reached D+W HCR & BRN 1.3000. Strong level here.

Will look for 4H signature/PA for LONG entry.

Attachment
New 1D trade: EURAUD

Pending Buy limit at 1.3005

Reasons:
1. 1H + 4H signatures of confirming D + W HCR as S
2. 1H + 4H SFP + Bullish PB
3. Strong level with D + W HCR & BRN 1.3000 confluence.

*hope price retraces to take me on board before taking off...

1D chart:
Attached Image (click to enlarge)
Click to Enlarge Name: EURAUD.jpg Size: 115 KB


1H chart:
Attached Image (click to enlarge)
Click to Enlarge Name: 2013-02-04_22-03.jpg Size: 103 KB
Knowing is not enough; we must apply. Willing is not enough; we must do.
  • #120
  • Feb 4, 2013 8:26am Feb 4, 2013 8:26am
Quoting keroro0o0o
New 1D trade: EURAUD

Pending Buy limit at 1.3005

Reasons:
1. 1H + 4H signatures of confirming D + W HCR as S
2. 1H + 4H SFP + Bullish PB
3. Strong level with D + W HCR & BRN 1.3000 confluence.

*hope price retraces to take me on board before taking off...

1D chart:
Attachment

1H chart:
Attachment
Welcome on board, I'm in
Knowing is not enough; we must apply. Willing is not enough; we must do.
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