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  • #41
  • Mar 24, 2014 5:28pm Mar 24, 2014 5:28pm
Closed my position in USD/CAD.

I had 2 trouble areas plotted for this one, which it both reached and then some, but then I moved my SL to break even and price retraced a lot.
My SL was nearly hit, and the following period filled the wick.
As price closed under 1.12 on a daily basis, I considered it too close to my stop to remain viable, hence the exit.
€0.24 is not by far enough to fight the drawdown I'm currently encountering, but it's most welcome!

My wife noted early on that it may have been time to sell, since the yellen-effect had lifted my position into a handsome profit, within the first hour after checking up on it.

Should get in the habit of banking early myself tho .

W
It's a sport, an artform and a science.
  • #42
  • Mar 27, 2014 11:20am Mar 27, 2014 11:20am
This has happened since my last post:

 

  1. USD/CHF: Short position entered & exited.
  2. CAD/CHF: Long position opened.
  3. EUR/CHF: Short position opened.


USD/CHF Short from 0.8850 (tp: 0.8800; sl: 0.8885)

Attached Image (click to enlarge)
Click to Enlarge Name: usdchfh4 setup.png Size: 25 KB

I entered on a retrace, but when selling came in, it lacked momentum and coudn't convincingly sell below 0.8850.
I then decided to retreat from the position.

CAD/CHF Long from 0.7972 (tp: 0.8497; sl: 0.7910)
Attached Image (click to enlarge)
Click to Enlarge Name: cadchfh4 setup.png Size: 32 KB

A Bullish outside Bar sitting perfectly on a PPZ, after breaking out of a large wedge.
The 50% fib. coincided with the PPZ.
The BUOB not only rallied beyond the 50% fib, it also went and closed beyond the 61.8% ret.
The tricky element in this setup is the BRN 0.8000 being very close.
A daily close above 0.8000 and I'll be locking in 25 pips of profit, trailing the stop close behind 0.8.

EUR/CHF Short from 1.21984 (tp: 1.2150; sl: 1.22375)
Attached Image (click to enlarge)
Click to Enlarge Name: eurchfdaily 26e setup.png Size: 32 KB

Mean looking pinbar off of a clear PPZ, with a little downside space.
The breakout with momentum makes me feel comfortable in this position.

I've moved my Stop Loss to 1.2205:
Attached Image (click to enlarge)
Click to Enlarge Name: eurchfdaily sl moved.png Size: 32 KB


I'll update my journal again Wednesday at the latest.

W.
It's a sport, an artform and a science.
  • #43
  • Mar 29, 2014 11:02am Mar 29, 2014 11:02am
Hello Donaciello i've look around your journal and you have some nice SS's.I will wait to see more of your trades.Us i see you are trading only D1 and H4 on the pairs that you are posting or you dont have any focus ?
  • #44
  • Apr 3, 2014 1:43am Apr 3, 2014 1:43am
Quoting BogiFX
Hello Donaciello i've look around your journal and you have some nice SS's.I will wait to see more of your trades.Us i see you are trading only D1 and H4 on the pairs that you are posting or you dont have any focus ?
Hi Bogi,

Thanks for taking an interest in my journal!
You're right in concluding my focus is on the larger timeframes (MN/WK/D1/H4).

If there's anything you think is worth mentioning, don't hesitate!
I'm very eager to learn and I firmly believe I can learn a thing or two from everyone.

Kind regards,
W
It's a sport, an artform and a science.
  • #45
  • Apr 3, 2014 2:30am Apr 3, 2014 2:30am
Quoting Donaciello
{quote} Hi Bogi, Thanks for taking an interest in my journal! You're right in concluding my focus is on the larger timeframes (MN/WK/D1/H4). If there's anything you think is worth mentioning, don't hesitate! I'm very eager to learn and I firmly believe I can learn a thing or two from everyone. Kind regards, W
I focus on D1 and H4.Us i said waiting for some more of your trades.
  • #46
  • Apr 3, 2014 7:54am Apr 3, 2014 7:54am
My position in EUR/CHF was closed for a small loss of €0.17.
I had moved the stop to 1.2205, looking for 1.22 to hold, but in retrospect, I could have left a little more breathing space for this position, since the 'left eye' of the daily pinbar had a high of 1.2216.

A better place would therefor have been at 1.222, just behind the eye.

Here's the chart:
Attached Image (click to enlarge)
Click to Enlarge Name: eurchfdaily sl hit.png Size: 31 KB




My other position - which is still open - reached the the first trouble area at 0.8000 without much hassle.
The next area was 0.8050/60, which was reached and then a down-sloping wedge consolidation followed.
On an hourly chart, the wedge is perfectly visible and so is the GREAT setup that broke out of it (highlighted in yellow).
A triple bar low (.798) with a higher close (!! above 0.8000 !!).

I was absent during it's formation, but I might have traded this one if I saw it, even though it's an H1 chart.
For now I've decided to move the stop to BE + some pips, with the stop-loss just behind the TBLHC.

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: cadchfh1 aaa setup dblhc - wegde sl moved.png Size: 26 KB


Will check back at NY close.

W
It's a sport, an artform and a science.
  • #47
  • Apr 3, 2014 8:55am Apr 3, 2014 8:55am
Great.Keep it up like that
  • #48
  • Edited Apr 4, 2014 6:29am Apr 3, 2014 4:13pm | Edited Apr 4, 2014 6:29am
Locked in slighlty more profit.
SL is now at 0.7997, 25 pips of profit.

Next SL move will be at a daily close above 0.8230

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: cadchfh1 sl achter .8.png Size: 24 KB


W
It's a sport, an artform and a science.
  • #49
  • Apr 4, 2014 9:18am Apr 4, 2014 9:18am
I've been having some issues with the oanda login page.

The problem is in my own system tho, as my backup PC logs in just fine.
Does anyone know why the oanda login page is sometimes rejected?
Sites like google for example are also blocked, yet youtube is accessible.

Thanks in advance!

W
It's a sport, an artform and a science.
  • #50
  • Apr 4, 2014 9:34am Apr 4, 2014 9:34am
Quoting Donaciello
I've been having some issues with the Oanda login page. ...
Because of the issues I mentioned, I entered a slight bit lower on the following setup:

Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh4.png Size: 22 KB


The entry is at 1.0976, where I would have entered at 1.09972 (50% retracement of the immediate move).

W
It's a sport, an artform and a science.
  • #51
  • Apr 6, 2014 11:10am Apr 6, 2014 11:10am
Good looking range setup on USD/JPY.
Big BEOB off of 104.

I'm looking for it to retrace, so I can get a good price, but 104 should hold as resistance.
Trouble is close by, so if I manage to get in, I'll be looking to get to BE as soon as possible.

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily.png Size: 36 KB


W
It's a sport, an artform and a science.
  • #52
  • Apr 6, 2014 5:26pm Apr 6, 2014 5:26pm
Quoting Donaciello
My position in EUR/CHF was closed for a small loss of €0.17. I had moved the stop to 1.2205, looking for 1.22 to hold, but in retrospect, I could have left a little more breathing space for this position, since the 'left eye' of the daily pinbar had a high of 1.2216. A better place would therefor have been at 1.222, just behind the eye. Here's the chart: {image} My other position - which is still open - reached the the first trouble area at 0.8000 without much hassle. The next area was 0.8050/60, which was reached and then a down-sloping wedge consolidation...
Hey Donaciello, well just read through your cheat sheet and it was great only that for me its a lot but please we all have what works for us. I use mainly the Jaroo's strategy but in a different way. So I enter mainly on retraces on the daily, 4hr and weekly. Anyway I'm also in the USDJPY trade however I'm looking for the 103.75 number to hold. In that a daily close above it and am out. Target for me is 102.75. Also watching the 103.00 RN and should price reach it before hitting my limit sell then am out of the trade no matter where it closes.Al
  • #53
  • Apr 6, 2014 5:51pm Apr 6, 2014 5:51pm
Quoting albus999
{quote} Hey Donaciello, well just read through your cheat sheet and it was great only that for me its a lot but please we all have what works for us. I use mainly the Jaroo's strategy but in a different way. So I enter mainly on retraces on the daily, 4hr and weekly. Anyway I'm also in the USDJPY trade however I'm looking for the 103.75 number to hold. In that a daily close above it and am out. Target for me is 102.75. Also watching the 103.00 RN and should price reach it before hitting my limit sell then am out of the trade no matter where it closes.Al...
I can see our plan on this setup is very similar .

The 104 should hold, but price should fail quickly before it gets there.
Targeting only about 6 pips less.

May the bears be on our side!

W
It's a sport, an artform and a science.
  • #54
  • Apr 7, 2014 5:25am Apr 7, 2014 5:25am
Had orders placed yesterday for:

- AUD/NZD: I4B on a major descending TL.
- GBP/CHF: Pinbar.
- USD/JPY: BEOB.

All of those orders are now cancelled for the following reasons:

- AUD/NZD: I4B broke down, while I wanted to see a break higher.
- GBP/CHF: Broke down, without having picked up my order.
- USD/JPY: I was in this for a retrace, but BRN 103 was hit before taking my order. As Albus999 mentioned correctly, this negates my setup.

W
It's a sport, an artform and a science.
  • #55
  • Apr 7, 2014 4:41pm Apr 7, 2014 4:41pm
Today, no new positions.

I did however move the SL on both of my positions, so let's take a closer look!

Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh4 sl moved.png Size: 25 KB


Moved up to retest the triangle, but got rejected with momentum.
I certainly think it can keep going down for a while, but a retest higher is always a possible scenario.
I didn't want to leave my cover of confluence just yet, but I wouldn't forgive myself a full bar loss after today's movement.
For now, a little more patience, while my SL is safely behind RN 1.1

Moving on:

I stated earlier that I wouldn't move the stop before a close > 8230.
Well, I take that back, because a logical new location has presented itself:

Attached Image (click to enlarge)
Click to Enlarge Name: cadchfh4 sl achter 8060 ppz.png Size: 29 KB


Price is still riding the inner trendline (orange) and two lows have tested it, but the attempts proved futile.
If price would manage to trade below the inner trandline, it would most likely find support at the outer trendline (crimson), but that's too much profit to give back in my opinion.
I'm still holding this one confidently towards 0.85, but I'm starting to limit the downside allowance.

Trade safe,
W
It's a sport, an artform and a science.
  • #56
  • Edited 8:28am Apr 8, 2014 8:15am | Edited 8:28am
Closed both CAD-based positions in profit, due to the worse than expected news from Canada.

Charts:

Attached Image (click to enlarge)
Click to Enlarge Name: cadchfh4 exit.png Size: 29 KB


CAD/CHF crossed the inner TL, which I didn't want to see.
It closed as a H4 BEOB, confirming the exit.
This may be one of the first trades that I'm fully satisfied with, not only because of it's good result, but rather the way I've managed the position.

Attached Image (click to enlarge)
Click to Enlarge Name: usdcadh4 exit.png Size: 31 KB


USD/CAD was fighting a trouble area, even before the news, my TP was missed by some 8 pips or so.
I thought about closing the position manually, which in retrospect, would have been a good idea with the important news coming up.
The question I'll ask myself for future reference is this: Is 10 more pips worth the risk that news events carry?
In this case, its a firm no.
I'm happy with the profit though, but this order was a little careless at the point of entering, since I entered late.

Today was a good day

W
It's a sport, an artform and a science.
  • #57
  • Apr 9, 2014 10:18pm Apr 9, 2014 10:18pm
Quoting albus999
{quote} Hey Donaciello, well just read through your cheat sheet and it was great only that for me its a lot but please we all have what works for us. I use mainly the Jaroo's strategy but in a different way. So I enter mainly on retraces on the daily, 4hr and weekly. Anyway I'm also in the USDJPY trade however I'm looking for the 103.75 number to hold. In that a daily close above it and am out. Target for me is 102.75. Also watching the 103.00 RN and should price reach it before hitting my limit sell then am out of the trade no matter where it closes.Al...
The usdjpy trade worked as I had planned.TP hit
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpydaily.png Size: 24 KB
  • #58
  • Apr 10, 2014 7:01am Apr 10, 2014 7:01am
Quoting albus999
{quote} The usdjpy trade worked as I had planned.TP hit {image}
Good going Al!

It had huge momentum with it, and eventhough I cancelled my order due to the setup not retracing, I've been watching it closely.
Beautiful movement.

Feel free to post your charts here more often, as our methods are pretty much the same thing .
Some in-depth discussion would do me good.

Will check back at NY close.

W
It's a sport, an artform and a science.
  • #59
  • Apr 10, 2014 9:11am Apr 10, 2014 9:11am
I've posted this chart in the J16 chart thread as well, but here's the AUD/NZD setup I'm look to enter long on.

Attached Image (click to enlarge)
Click to Enlarge Name: audnzddaily setup in the making.png Size: 37 KB


I want to see a BUOB on the daily chart, but when a convincing BUOB forms on the H4 chart, I will jump in, keeping in mind that I still want the daily criteria to succeed.
H4 SL would be 1.0797
D1 SL would be 1.0719

Let's stay patient and see where price takes me.

W
It's a sport, an artform and a science.
  • #60
  • Apr 10, 2014 9:40am Apr 10, 2014 9:40am
Quoting albus999
{quote} ... I use mainly the Jaroo's strategy but in a different way. So I enter mainly on retraces on the daily, 4hr and weekly. ...

Are you watching this Al?
GBP/USD has recently made a series of HCR's, which are being confirmed with PA as we speak.
I too am looking for retracements, but I want to see them fail and subsequently turn PA.
That being said, I'm looking for PA on G/U in the H4 or D1, but I think it'll be H4 on this one.

Chart:
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdh4 jarroo setup.png Size: 27 KB


Take care,
W.
It's a sport, an artform and a science.
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