The Second Journal is the Charm

This is going to be my second journal I have made. The purpose of this journal is to follow my two small micro accounts I have made and compare them. My system is completely different than my systemS that I used in my other journal. I will use this journal to post pictures of my trades and write down my ideas. I will be trading with the 4H timeframe mostly.

http://i1175.photobucket.com/albums/...psaccf6b64.gif

Losing trade on my Aggressive account. I moved down to the 15min timeframe which was a mistake and the price never really made a higher low which made it a bad trade.

Current Account Stats:
Aggressive---- Down 4.45% (since I am trading with a micro account a couple of dollars is around 5% of my account)
Sonic---- up 5%

Good luck to you on trying out your new strategy. I'll be watchin'.

Does anyone have an ADX indicator that shows if certain timeframes are ranging or trending?

Hey Swoosh,

I found this indicator that looks like what you are looking for.

Well, I am back and I will be using this journal as a place to post my trades and write down my thoughts as to why I made a certain trade.

I have currently been trading for around a year now. I am still trading from my initial account so I have happy to have not blown it YET!

I will be trying to do analysis everyday of some of the currencies I trade. I know I will be wrong A LOT especially since I have only be really trying to study price action and the way the market responds to resistance for about a month now. Hopefully, as time goes on my accuracy will improve.

I was able to catch some nice moves earlier today on the GBPCAD, EURAUD, and GBPUSD. The GBP pairs showed some nice bearish engulfs at the end yesterday so I jumped on that and the EURAUD was showing bearish pin bars along my MAs.

Honestly, I feel like the market is really hard to read right now the NZDUSD 4Hr has been flat for the last week or so I am just waiting for a breaking. I hope it goes down and breaks the 240 ma because then it would have a lot of room to fall.

The EURJPY is approaching the 240 MA and the stoch 7 is almost above 80 so a bearish engulf or pin bar would be a good sign to sell.

The GBPUSD has had some long tails (almost pin bars but not) hitting the 23.6 fib (of it's giant uptrend) today but price could easily break through it and go down to a confluence area around 1.57195 where there is resistance and the 38.2 fib. I am going to be weary of a bullish engulf bar because it could just be banks trying to get liquidity to drive the price down.

It looks like the USDCAD has made a nice breakout. I was tempted to go long last night but I decided against it because I would of been overtading. If it retraces and the stoch drops below 20 and I see some convincing price action I might enter in long but I will have to wait for that.

I strongly think that the GBPJPY is going to drop around the 154.180 area which has been a level of strong resistance. Then we will have to see where is goes from there cause that area could be a good turning point of a good breakout down to the other resistances at 150.55 and 147.870 (which is a major resistance). I must admit I think it is highly unlikely that it will fall to 147

The current EURAUD 4hr bar has a long tail that touches some resistance. I think it has more of an opportunity to go down that up right now.

I think the GBPNZD will fall to the 1.90640 area.


In conclusion, I want to look for a short on the EURJPY and the breakout of the NZDUSD. The other currencies feel too crazy to me and the stoch doesn't match my feeling for what direction the currency is going to go.