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Prez Forex (pres78) Trading Journal

  • #21
  • Edited 8:58am Dec 9, 2015 6:51am | Edited 8:58am
Trading is simple when you follow the volume, know your levels and follow your trade plan. I do this day in and day out without even thinking anymore. It's second nature.

EURUSD has only been buys so far this week for me. Are they taking prices higher for better sells if the rate increase happens? Quite frankly I don't know and I don't care. My volume zones are telling me to buy so I am buying.

First two charts show the progress yesterday of a 1hr entry I took. 2BR into the high of Monday's zone.

Third chart is today's entry. 15 minute 2BR into the 50% of today's LO zone (highest 1hr volume zone today) after taking out the high. We were already above and away from yesterday's zone.

I knew easy targets for both trades at minimum was that 1.0950 (I have been eyeing a return to this level all week) level (high of 4hr zone from Thursday last week). We've hit that level twice already with supply being found both times.

Trade 1 has hit 5.5:1 and is currently locked in at 3:1.

Trade 2 has hit 3:1 (nice tight 6 pip SL) and has been moved to 1:1.

Not sure how long I will continue to post here at my journal. I had planned on never posting again at FF but it's just way too boring... So I'll be here at least until a find a new home. The wheels are turning.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDiH1.png Size: 56 KB
Click to Enlarge Name: EURUSDiH1 2.png Size: 57 KB
Click to Enlarge Name: EURUSDiM15.png Size: 58 KB
Today's zone = Tomorrow's opportunity!
  • #22
  • Edited 8:48am Dec 9, 2015 7:39am | Edited 8:48am
EURUSD key 30 min bar close for the bulls above that 1.095 level (Watch for a possible re-test before pushing much higher, that hold on re-test (if it occurs) is the key). If the re-test happens and holds (or if the bulls just keep pushing) then 1.1 for sure should be in the cards. More likely however is a return to the 1.1050 to 1.11 area. There is also some nice clean untouched supply sitting a little higher still at 1.115.

For fun I am going to go out on a limb and say that come next Wednesday when we are at the Fed rate decision and FOMC statement we will see EURUSD sitting somewhere in the 1.11 to 1.12 zone...
Today's zone = Tomorrow's opportunity!
  • #23
  • Edited 8:18am Dec 9, 2015 7:53am | Edited 8:18am
Quoting pres78
Trading is simple when you follow the volume, know your levels follow your trade plan. I do this day in and day out without even thinking anymore. It's second nature. EURUSD has only been buys so far this week for me. Are they taking prices higher for better sells if the rate increase happens? Quite frankly I don't know and I don't care. My volume zones are telling me to buy so I am buying. First two charts show the progress yesterday of a 1hr entry I took. 2BR into the high of Monday's zone. Third chart is today's entry. 15 minute 2BR into the...
Update

Trade 1 locked in at 6:1 (hit 8:1 so far)
Trade 2 locked in at 8:1 (hit 10:1 so far) Edit - Stopped out at 8:1

All being managed by my EA while I work. Gotta love it.
Today's zone = Tomorrow's opportunity!
  • #24
  • Dec 9, 2015 11:10am Dec 9, 2015 11:10am
Quoting pres78
EURUSD key 30 min bar close for the bulls above that 1.095 level (Watch for a possible re-test before pushing much higher, that hold on re-test (if it occurs) is the key). If the re-test happens and holds (or if the bulls just keep pushing) then 1.1 for sure should be in the cards. More likely however is a return to the 1.1050 to 1.11 area. There is also some nice clean untouched supply sitting a little higher still at 1.115. For fun I am going to go out on a limb and say that come next Wednesday when we are at the Fed rate decision and FOMC statement...
Nice re-test / touch of that 1.095 level which is good for the bulls. Right now we are contained within today's highest volume 1hr zone. A break of the high will be key for further upward movement. Let's see how the day closes and where we are come LO tomorrow with respect to today's zone.
Today's zone = Tomorrow's opportunity!
  • #25
  • Edited 1:32pm Dec 9, 2015 1:18pm | Edited 1:32pm
Quoting pres78
{quote} Update Trade 1 locked in at 6:1 (hit 8:1 so far) Trade 2 locked in at 8:1 (hit 10:1 so far) Edit - Stopped out at 8:1 All being managed by my EA while I work. Gotta love it.
Update... keep on climbing baby!

Trade 1 - after a near stop out on an earlier retrace, currently the trade sits at 11:1 hit, locked in at 9:1. SL now just below 1.1 currently at 1.0995.
Today's zone = Tomorrow's opportunity!
  • #26
  • Edited 4:53pm Dec 9, 2015 4:34pm | Edited 4:53pm
Pres78 love your stuff please keep posting......... Your levels are a great help to me, Though I am still learning to trust them.. ..
Can I post VZA setups or trades here ? many thanks friend !
Learn THEN Unlearn
  • #27
  • Dec 9, 2015 5:10pm Dec 9, 2015 5:10pm
Quoting pres78
{quote} Update... keep on climbing baby! Trade 1 - after a near stop out on an earlier retrace, currently the trade sits at 11:1 hit, locked in at 9:1. SL now just below 1.1 currently at 1.0995.
So we've hit 12:1, SL locked in at 10:1. Pretty close call earlier but survived. I suspect this will get stopped out during Asia session.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiH1.png Size: 65 KB
Today's zone = Tomorrow's opportunity!
  • #28
  • Dec 9, 2015 5:13pm Dec 9, 2015 5:13pm
Quoting HighFivve
Pres78 love your stuff please keep posting......... Your levels are a great help to me, Though I am still learning to trust them.. .. Can I post VZA setups or trades here ? many thanks friend !
Fill your boots. A little company would be nice and I'll try and help if you have any questions when I'm around.
Today's zone = Tomorrow's opportunity!
  • #29
  • Dec 9, 2015 6:56pm Dec 9, 2015 6:56pm
Great thanks.... Could you please share .when would you add 2 bars together . I am thinking if the vol is close to equal? Thanks man
Learn THEN Unlearn
  • #30
  • Edited 7:16am Dec 10, 2015 6:38am | Edited 7:16am
I was asked on another forum how I select what to trade that day, I gave a very detailed response. Today based on that very part of my trade plan when I looked at EURUSD I would have been a seller at LO (had I gotten up in time ).

Tuesday I was a buyer only, Wednesday same thing. Thursday however my bias shifted at LO. I was stopped out overnight from the last of my longs.

See how we test but never close above the high of yesterday's 1hr zone. Then we push below 50% and get ND. Come LO we are below the low and right at LO we are testing up into the low. Last 15 minute bar before LO and 1st 15 minute bar of LO formed a killer sellers 2BR.

That would have been my entry had I been up.

Simple. Day after day find the pairs with the best set-ups based on their zones and trade them.

Follow the volume, trade the levels.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiH1.png Size: 40 KB
Today's zone = Tomorrow's opportunity!
  • #31
  • Dec 10, 2015 8:12am Dec 10, 2015 8:12am
EURUSD long at 1.0955, see you at 1.1.

SL 1.0944, Target 1.0999 for 4:1 - firm target, low of yesterday's zone which is for currently a bear zone. Will take off half at 2:1 and BE the rest.

We are within today's highest volume zone so this is a riskier trade. Taken completely based on my PA / volume read off the last 15 minute bar. Bulls MUST take and hold 1.097 for this to play out as planned.

Not a recommendation... Not a trade call.
Today's zone = Tomorrow's opportunity!
  • #32
  • Dec 10, 2015 8:32am Dec 10, 2015 8:32am
Quoting pres78
EURUSD long at 1.0955, see you at 1.1. SL 1.0944, Target 1.0999 for 4:1 - firm target, low of yesterday's zone which is for currently a bear zone. Will take off half at 2:1 and BE the rest. We are within today's highest volume zone so this is a riskier trade. Taken completely based on my PA / volume read off the last 15 minute bar. Bulls MUST take and hold 1.097 for this to play out as planned. Not a recommendation... Not a trade call.
Last 15 minute bar was ugly, wanted a close over 1.097... It went up and failed on ND (1 minute chart, I was zoomed in watching how PA played out at that level, hoping for a bulls push) so I closed for 1:1 at 1.0966.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDiM1.png Size: 38 KB
Today's zone = Tomorrow's opportunity!
  • #33
  • Dec 10, 2015 8:43am Dec 10, 2015 8:43am
Definitely still seems to be some buyers present at the 1.095ish level. Some volume coming in. See if it's buyers building or sellers absorbing.
Today's zone = Tomorrow's opportunity!
  • #34
  • Edited 10:30am Dec 10, 2015 8:45am | Edited 10:30am
Long again EURUSD...

Entry 1.0952, SL 1.0944. Target 1.0992 for 5:1.

Will trail using EA this time. BE at 2:1, 1:1 at 3:1, 2:1 at 4:1 and close at 5:1.

Again still a risky trade as we are within today's zone however we seem to be forming a base showing buyers supporting the market so I remain bullish from this area for the time being. 1.097 still a key level.
Today's zone = Tomorrow's opportunity!
  • #35
  • Edited 9:44am Dec 10, 2015 9:32am | Edited 9:44am
Will add a second long at 1.0956, SL will be 1.0950, TP 1.0992 for 6:1.

Let's see what happens... still within the zone so risky...

As always not a trade call nor a recommendation . Just me talking to myself in my journal .
Today's zone = Tomorrow's opportunity!
  • #36
  • Dec 10, 2015 9:46am Dec 10, 2015 9:46am
Quoting pres78
Long again EURUSD... Entry 1.0952, SL 1.0944. Target 1.0992 for 5:1. Will trail using EA this time. BE at 2:1, 1:1 at 3:1, 2:1 at 4:1 and close at 5:1. Again still a risky trade as we are within today's zone however we are defiantly forming a base showing buyers supporting the market so I remain bullish from this area. 1.097 still a key level.
SL hit. It happens. Trade was risky.
Today's zone = Tomorrow's opportunity!
  • #37
  • Dec 10, 2015 10:36am Dec 10, 2015 10:36am
short usd/cad price rising vol falling.... TP lower VZA
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 181 KB
Learn THEN Unlearn
  • #38
  • Edited 11:21am Dec 10, 2015 10:40am | Edited 11:21am
Quoting HighFivve
short usd/cad price rising vol falling.... TP lower VZA {image}
Where are the zones on your chart? I don't see anything VZA on there.

We are above yesterday zone and today's zone, why short?

USDCAD = longs only for me today.

Today we tagged both the 50% and H of yesterday zone giving a few chances to get in long. I see no reason yet to be taking or thinking shorts. See the 1 hr chart I added. Yellow zone = yesterday, white zone = today. Bulls in control all day.

5 minute chart same two zones, high of today's zone taken out and a beauty of a 2BR into the 50%. Low that increasing volume on the 2 down bars and then the reaction to that effort = 2BR and higher prices.

Don't fight the zones. Let them and their levels guides you for the day.

Edit - remember that price can rise and fall on low volume for a long time especially in the afternoon after London leaves for the day. Afternoon drifts are quite famous and quite common.

Edit 2 - until the buyers start to step out (take profit) or new sellers step in bringing the market more into balance the controlling side can carry on without much effort.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDCADiH1.png Size: 56 KB
Click to Enlarge Name: USDCADiM5.png Size: 41 KB
Today's zone = Tomorrow's opportunity!
  • #39
  • Dec 10, 2015 11:23am Dec 10, 2015 11:23am
{image}[/quote] good call I got out at BE .. great info , thanks alot

---so you do not take trades back toward the levels--?

also is "beauty of a 2BR into the 50%" a pattern or 2 vol bars combined ?
Learn THEN Unlearn
  • #40
  • Dec 10, 2015 11:37am Dec 10, 2015 11:37am
Quoting HighFivve
so you do not take trades back toward the levels--?
Your going to have to clarify what your asking. I like to look for old zones above and below current PA at around the ADR for the pair as possible targets as they could serve as resistance and or possible turning points. That said I trail my trades and trade the current zones as the most important and hitting another old zone does not give me reason to get out or to take a reversal trade without the proper signs of activity.

Old zones are nothing more than clues on where we might see the SM become active again.
Today's zone = Tomorrow's opportunity!
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