Gejordan Weekly Journal

Note this pair.... been trading all morning off what Mikepip and I discussed this morning and what I showed you in the picture. Since the last post, I took a -10 and now have a +14 TP1 with the second running and will see what NFP brings.

So, I have had an 8, 10, 10, -10, +14, and one running

and let's close it out with a +60 as NFP got it through the top for me. 92 for the day. Nothing but a box, my eyes, and some discipline. you can do it, too. nothing magical going on here, nothing that requires a guru, or monthly fee, etc. I saw a move up, a retrace, a hold at the bottom of a range and traded from the bottom to the middle hoping that it would break through eventually.

Good Afternoon everyone. Here is what I did last night and how I saw the markets. I also had a good session with Tadeusz and reviewed how he is looking at the markets. A good takeaway with Tadeusz was making sure that anything you put on your chart is (1) there for a reason and (2) you are using it.

For Example: EU


EU moved down after NFP and then came into this week pulling back up. It hit the top of a range (using a support area from Friday pre-NFP , now turned possible resistance) and was just under the pivot. As you can see, it then fires off some bearish action, goes down and hits TP1 and BE. When it takes you out at BE it then gives you another bearish action. Hits TP1 and on down to TP2.

The point is this, if you are highlighting the range prior to your session, make sure you are looking at it in comparison to what happened just before. If you have pivots, and you get action under the pivot and you are at top of range.. this is confluence. Doesn't guarantee a profitable trade, but its the low risk trade I want to take and the one Tadeusz should want to take also.

Now, what else was I trading? How about GJ...

I was up all night thru Asia into London and saw the following on GJ.... It went up Friday and was pulling back into this week. It then headed down and got lower than the late Friday pullback and stopped at the pivot. As Tokyo started kicking, price headed back up, but started giving action at the top. I was patient and willing to miss, but once I got the second action at what would have been the full retrace of the earlier candle, I have a low risk short back to the pivot area. TP1 and one running at that point. It settles in little channel between the pivot and the horizontal line I have drawn. It wasn't going higher, so this was possibly the most dangerous of the trades as I went after a break of the pivot... but I could do it with low risk... My stop only has to be above the horizontal line I have above. Get short and there it goes, TP1 and TP2 and one running from above. Then Europe gets going and it pulls back and gives another bearish, my entry on MT4 was slow, but still good enough as I was seeing the action and going with the move.. TP1 and TP2 (not shown) as it turned up prior to news. Also closed the second one from the top.

A bunch of money made, even trading a session I wouldn't typically trade, but the points are these... I am using the very little info on my screen (a box I draw and pivots) and focusing on small risk. And as you can see, even as news came out, this pair just went back to the low risk area above again and stopped and dropped again. I was asleep, but just illustrating the point of seeing the chart. See the chart first. Not your indicators, not your dreamed about profits, not anything but seeing the chart FIRST.

I also took a 6 pip loss on GU, and missed a monster pre-news that Tadeusz should have reached through skype and punched me over. Also had some profitable EJ trades, but the points of the day are best illustrated in the above 2 pairs.

thx G for the post....

again not trading FX - just for study.....

Got clear.
Took 3 trades today.

Got clear
3 trades on EU

Hi,

I'm following along trading the same 4 pairs as Mike. I start a little later and finish around US open.

Two trades so far today, 1 good, 1 not so good.

Not a bad start... here is some feedback based on last week's reviews:
GU: solid all around, not much to say
EJ: You could view this in 2 ways, both problematic for your trade. (1) if you call this an expanding range, have to enter from the extreme edges for best risk. Would have saved you 20+ pips on the loss. (2) View it as above /below the 18-20 level, you were below, it's more likely to go the other way. I prefer view #1, but either way, not good for your trade.

I got clear and took the same short on pound dollar but after the 11:15 bearish engulfing. Entry at 74 which is where I had drawn a line from the earlier action. I got tired and exited at breakeven.

Got clear
EJ short
TP1 & out

good job

4 trades today, last one a full loss on EURUSD. My thought was price had moved lower so I should look for short.

Thoughts for you to throw around:
*If the range is expanding and you enter, don't be scared of the expansion.
*If you are willing to take the long, why aren't you willing to take the short?
*If you are willing to take the short, why aren't you willing to take the long?

Your only "bad" trade was the second EU. Think about the thoughts I gave you. Not sure how you are deciding what to take and what not to take. Doesn't always seem to be consistently on price and action alone. Deep thoughts by Gejordan.

Got clear
Long EU
Tp1 & Running.

I took the same trade as Mike but was break even

Got Clear
GU long.

EJ short
Not seeing things too clearly today.

This was definitely the first day where you had a bad one this week. The GU not great. The EJ was ok, but at this point I think EU gave you a hint that EJ was going to be tough.

Two trades on GBPUSD

Excellent, you saw the direction and went after it