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Prez Forex (pres78) Trading Journal

  • #61
  • Edited 11:50am Dec 11, 2015 11:34am | Edited 11:50am
EURUSD pending short at 9088. Reason = Bored ... Expecting to see 9070 again before the end of the day (or we won't, either way I'll be right ).

Have a great weekend.
Today's zone = Tomorrow's opportunity!
  • #62
  • Dec 11, 2015 11:59am Dec 11, 2015 11:59am
Quoting pres78
EURUSD pending short at 9088. Reason = Bored ... Expecting to see 9070 again before the end of the day (or we won't, either way I'll be right ). Have a great weekend.
Slow drift, cancelled my pending's closed my platform.

Will evaluate things for next week on Sunday night when the markets re-open.
Today's zone = Tomorrow's opportunity!
  • #63
  • Dec 12, 2015 9:54am Dec 12, 2015 9:54am
Hi pres78 .
Thank you for sharing with us your system.
You make trades on H4 or Daily using this system too? Or it is only for intraday ?

Thank you in advance.
  • #64
  • Dec 12, 2015 3:41pm Dec 12, 2015 3:41pm
Quoting Matheuzera
Hi pres78 . Thank you for sharing with us your system. You make trades on H4 or Daily using this system too? Or it is only for intraday ? Thank you in advance.
Due to my lack of time and still having a full time job and a family that keeps be running most of my trades are taken on the 4hr and Daily charts (even Weekly and Monthly). The set-ups are less and stops are wider but the time needed to manage is very minimal. I trade a higher risk % on these higher TF trades as the returns take longer to unfold.

What I have been showing here using the 1hr zones is my intraday trading.
Today's zone = Tomorrow's opportunity!
  • #65
  • Dec 12, 2015 6:32pm Dec 12, 2015 6:32pm
Quoting pres78
{quote} Due to my lack of time and still having a full time job and a family that keeps be running most of my trades are taken on the 4hr and Daily charts (even Weekly and Monthly). The set-ups are less and stops are wider but the time needed to manage is very minimal. I trade a higher risk % on these higher TF trades as the returns take longer to unfold. What I have been showing here using the 1hr zones is my intraday trading.

The approach that you use in the largest TF is the same as intraday ?
  • #66
  • Dec 12, 2015 10:49pm Dec 12, 2015 10:49pm
Quoting pres78
{quote} Due to my lack of time
I'm happy you didn't stop posting.

I will need a lot more practice and screen time before I would feel comfortable taking live trades based on zones. I was intrigued by EURUSD on Friday and how it reacted to the previous day's zone. I'm not sure if bar A is testing the 50% line or if it was really just testing the close of bar C. What stands out to me is Bar B which tagged the high of the zone one last time before price went up.

I will be watching to see if EURUSD remains bullish Monday, not for a trading bais but more of how significant VZA can be.
Attached Image (click to enlarge)
Click to Enlarge Name: EURUSDM15.png Size: 56 KB
  • #67
  • Dec 13, 2015 7:49am Dec 13, 2015 7:49am
Quoting Matheuzera
{quote} The approach that you use in the largest TF is the same as intraday ?
Basically yes.
Today's zone = Tomorrow's opportunity!
  • #68
  • Dec 13, 2015 7:55am Dec 13, 2015 7:55am
Quoting albern
{quote} I'm happy you didn't stop posting. I will need a lot more practice and screen time before I would feel comfortable taking live trades based on zones. I was intrigued by EURUSD on Friday and how it reacted to the previous day's zone. I'm not sure if bar A is testing the 50% line or if it was really just testing the close of bar C. What stands out to me is Bar B which tagged the high of the zone one last time before price went up. I will be watching to see if EURUSD remains bullish Monday, not for a trading bais but more of how significant...
EURUSD is inside the zone from Friday so we need a break of either the high or low before we can determine bullish or bearish.

As with any trading method one must figure how and if it works for them. VZA works wonders for me and has for over 4 years now. It gives me all the information I need to make my trading decisions.
Today's zone = Tomorrow's opportunity!
  • #69
  • Dec 13, 2015 1:44pm Dec 13, 2015 1:44pm
Quoting pres78
{quote} Basically yes.

Thank you pres78.
  • #70
  • Dec 13, 2015 3:52pm Dec 13, 2015 3:52pm
Quoting Matheuzera
{quote} Thank you pres78.
I'll try and post a few examples when some new higher TF trades materialize.
Today's zone = Tomorrow's opportunity!
  • #71
  • Dec 13, 2015 6:03pm Dec 13, 2015 6:03pm
Quoting pres78
{quote} I'll try and post a few examples when some new higher TF trades materialize.

  • #72
  • Dec 14, 2015 2:13am Dec 14, 2015 2:13am
Quoting pres78
{quote} I'll try and post a few examples when some new higher TF trades materialize.
This is a demo trade.

Care to comment as to whether you would have been confident enough to trade here?

I saw weakness on bar A and bar B looks like its pushing through the 50% with selling pressure. I shorted on what I think is PA rejecting the 50%.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 61 KB
  • #73
  • Dec 14, 2015 4:28am Dec 14, 2015 4:28am
Quoting albern
{quote} This is a demo trade. Care to comment as to whether you would have been confident enough to trade here? I saw weakness on bar A and bar B looks like its pushing through the 50% with selling pressure. I shorted on what I think is PA rejecting the 50%. {image}
All in all your read was good, SL was a bit close and should have been at least above the high of bar A. Not crazy about the PA you entered off but again all in all a good read.

I have to assume you were stopped out on the final push up before the move down?

Remember too that where we are inside a zone we have to consider the levels as S & R.

Yes the low was taken out Friday and also briefly again today but it did show some support also so when we got back there today we needed to expect at least some support and possibly a bounce. A nice place to look to add on short would be after the break of the low and a return on ND to the low (if that happens).

I can't comment much more than that as I don't personally trade USDJPY.
Today's zone = Tomorrow's opportunity!
  • #74
  • Dec 14, 2015 7:22am Dec 14, 2015 7:22am
Quoting pres78
{quote} EURUSD is inside the zone from Friday so we need a break of either the high or low before we can determine bullish or bearish.
See how the zone from Friday has contained PA thus far today. Support found at the low, up resistance found at 50%, small retrace support found, break of 50%, test of 50% followed by a push up and we are currently on our way to the high.

Today so far on EURUSD has been a lower TF trade the Friday 1hr zone from level to level watching for reactions.

Some point this week the H or L should give way and a bigger move should follow.

Wednesday is a big news day and should drive some moves and also will give some lovely new zones I'm sure.
Attached Image (click to enlarge)
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Today's zone = Tomorrow's opportunity!
  • #75
  • Dec 14, 2015 7:47am Dec 14, 2015 7:47am
Lots of activity brewing up at the Friday zone high... Now is it buyers absorbing sellers, profit taking (or a little of 1 and 2) or perhaps the informed buyers are switching sides to sellers as the uninformed buy the BO blindly?

Time and the volume will tell.
Today's zone = Tomorrow's opportunity!
  • #76
  • Dec 14, 2015 11:52am Dec 14, 2015 11:52am
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 we will see EURUSD sitting somewhere in the 1.11 to 1.12 zone...

So... this may end up playing out. Low of Friday's zone was right around that key level I mentioned several times now 1.095 (which is where we found support today before the push up. We are now testing into the 1.1 level. We did however see today a double top (or a triple top if you count Friday's LH push up into the same rough area) which made a slightly HH than Dec 9th. The key for me today is the close. Today is setting up to possibly be the first Daily bar to close above the Dec 3rd UHV WRB since Dec 9th which was followed by an immediate close back within the range on Dec 10th.

So weak-ish looking Daily bar that made a HH and a HL... That has me thinking we see continued higher prices tomorrow and Wednesday AM leading into the USD rate / Fed shenanigans...

We will see I guess. This is just me killing the afternoon before the long drive home.

Grabbed a few EURUSD pips on the way up and also the way down today playing within the zones and the levels...

Today's zone come LO will be the key for my trading tomorrow...

The rest is just speculation .
Today's zone = Tomorrow's opportunity!
  • #77
  • Dec 14, 2015 10:17pm Dec 14, 2015 10:17pm
Quoting pres78
{quote} Not crazy about the PA you entered off but again all in all a good read. I have to assume you were stopped out on the final push up before the move down?
The trade barely survived.

I see now the entry was sloppy, there was a perfect ND into the 50%.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 160 KB
  • #78
  • Dec 14, 2015 11:12pm Dec 14, 2015 11:12pm
This is your trading journal so let me know if I am posting to much.

I am thinking that bars A and B are bullish because of how price reacted to them, almost immediately price pushes out of the zone.

Bar C I think is a hidden test, in my live trading I avoid hidden tests but here the test is at the 50% line and the next bar price pushes up on higher volume so I don't think there is much chance of it being a ND.

TP is .7320 since price tried to break out of the zone once already so I'm looking for a bigger move.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 56 KB
  • #79
  • Dec 15, 2015 6:35am Dec 15, 2015 6:35am
Quoting pres78
{quote} So... this may end up playing out. Low of Friday's zone was right around that key level I mentioned several times now 1.095 (which is where we found support today before the push up. We are now testing into the 1.1 level. We did however see today a double top (or a triple top if you count Friday's LH push up into the same rough area) which made a slightly HH than Dec 9th. The key for me today is the close. Today is setting up to possibly be the first Daily bar to close above the Dec 3rd UHV WRB since Dec 9th which was followed by an immediate...
Ah those sneaky SM bastards ...

The good old FO fake out. Took out the high of yesterday's zone but then what did the London boys do? Right back inside. FO and even the initial moves at LO can and will quite often be fake moves to try and trap traders and fill orders... We saw that today.

Can you even imagine how many guys were buying that break out? Lots of sell orders filled on that one...

We nailed the 1.105 level I mentioned in previous posts and down we came.

This is why I stress for new traders trying to implement VZA start with the borders first before trying to trade within the zones. Take shorts from below the L and longs from above the H until things become more clear and taking those trades becomes like breathing. Then as you PA reading gets better you can move into the other types of entries.

I mean just look at how nice the PA moves between and respects the levels from yesterday's zone.

FO, move back inside the zone, test of the high from below, support at 50%, test of 50% from below after the break, support at the low, break and test... Lovely.
Today's zone = Tomorrow's opportunity!
  • #80
  • Dec 15, 2015 6:37am Dec 15, 2015 6:37am
Quoting albern
This is your trading journal so let me know if I am posting to much. I am thinking that bars A and B are bullish because of how price reacted to them, almost immediately price pushes out of the zone. Bar C I think is a hidden test, in my live trading I avoid hidden tests but here the test is at the 50% line and the next bar price pushes up on higher volume so I don't think there is much chance of it being a ND. TP is .7320 since price tried to break out of the zone once already so I'm looking for a bigger move. {image}
Post away, keeps me company. I'll chime in when I can and try and help steer you in the right direction. Keep practicing and focus on the edges for now and things will become clearer. Then you can move onto taking trades within the zones.
Today's zone = Tomorrow's opportunity!
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