Go big or go home - My journal attempting rapid growth

I am creating this trading journal to document my trades, why I make and hopefully learn from my mistakes and increase my winning trade ratio.

I am calling this my "go big or go home" journal because I will be using high leverage to attempt to build my account balance quickly. I will be tracking my progress using MyFXBook.com and will post captures of it here from time to time to show my progress.

I will be posting my observances of what I think may be to come, where I plan to enter and exit a trade as well as my trading outcomes as they occur.

My trade entries and exits will be based on price action, 15 period MA, MACD & Stochastics.

I will be using the weekly, daily and 4H charts to help determine general direction and I will attempt to trade within that direction or pullbacks within that direction, using the 1H, 30Min, 15Min & 5 Min charts.

Below is a shot from MyFXBook showing what the account looks like at the start of this journey. Will continue to update as I progress.

I've been playing the U/J mostly this week and not paying much attention to the E/U. I just noticed the beautiful wedge pattern below and had to take a short position in it. Not a great entry point at 1.2455 but I'm thinking this may just be the last leg down before it breaks lower so I wanted to get in.

I will be watching to see what happens when we reach the lower support again. If it starts bouncing off of there too sharply I may take my profits out and reverse my position for another ride up toward resistance again but I really do not see that happening so late in the wedge. I don't think that will be the case but must be aware that it's a possibility. I expect to see either a clean break of support or maybe some short term consolidation followed by a deep break.

It would be my best case scenario to see 1.2460 or lower through the end of the day tomorrow. Depending how fast it falls, I may pull out some profit early after the break then wait for a retrace and re-enter for more lows again. I may be thinking too far ahead but that's what I am seeing right now.

Wait and see time.

Just touched lower support at 1.2444....... will it break? Consolidate? head north?

I will hold through the evening, looks like it will continue to fall or at the least consolidate until NY open for the drop.

Doesnt appear it will be bouncing north again to me.

*EDIT* - Adjusting SL to 1.2465 worried about it getting hunted out at 1.2455

Guess I saw this formation just in time!

Solid break of the wedge, couldn't be any more perfect! I have put my SL in at BE at 1.2455 and am headed to bed for the night.

Hopefully i wake up to another 100 pips Worst case we get stopped out, I dont see that ocurring though.

[quote=Dest_unknown;7870401]*EDIT* - Adjusting SL to 1.2465 worried about it getting hunted out at 1.2455 Guess I saw this formation just in time! Solid break of the wedge, couldn't be any more perfect! I have put my SL in at BE at 1.2455 and am headed to bed for the night. Hopefully i wake up to another 100 pips Worst case we get stopped out, I dont see that ocurring though.[/quote

Dest please keep on posting, will benefit us newbies. Happy pipping.