BB, MACD, and everything else where appropriate

Studying the market using this technical strategic overlay makes more sense to me than anything else I've looked at.
This is for very short term trading. So it's a lot of fun. Very fast moving.
The basic chart is simple.
Candles, Bollinger Bands, and the 400 sma
First thing is to identify the trend on the day.
Up, down, flat in a channel?
Then find entrances on the lower time frames that go with the trend.
Can fine tune that to at least the 5 min candles.

Always use a stop and be ready to take a small loss. It has two advantages. Prevents having to take a much larger loss after waiting and waiting for the trade to turn round. And all that time spent in waiting could have been used to several other trades. I am only taking one trade at a time. It is too fast moving to try to monitor more than one at a time.

Finding the most appropriate sma on the appropriate time frame using a cross of price on that as trailing stop.

News and data... and market openings and closings means heightened activity and the possibility of a trend starting but there is too much volatity right when the news is there. Evidently there are pending orders just above and just below and they get taken out casing spikes in both direction. So have to wait a few minutes until the trend can be identified. To keep a close watch for when they are scheduled.

Watching MACD. It is rolling over? Are there divergences? Checking the different time frames.

No real money used yet. So no fear of getting it wrong. But by entering the market using the demo it keeps my attention and I become more and more familiar with how the market moves.

I will make money. I am sure of it. But for now let me study this seriously.

The buyers are gone after a big uptrend. Trading in a channel on the 5 minute. On the 15 minute trying to reach the 400 sma just above. this could be as close at it gets to 400sma before swinging back down. But the day shows an uptrend bias. most likely some consolidation before significant move upward on the day.

I took the trade anyway. If it were real money I probably would not have. But for purposes of studying I took it.

On the 30 min MACD is rolling over... 400 is just near. there is no data until NY 10am 3 hours.
If there is 3 or 4 pip move I will take it. stop is set 15...

Not much activity.

A long rest flat like this after big move up resets everything. MACD looking like it wants to turn up...
It's like starting over again to decide a trend. Like the big move up never happened.
It can continue up new buyers... or it can fade. But the general bias is up to flat on the day.
Of course ANYTHING can happen in forex. So the stop is there. To live to play another day.
Then there is this on the 1 hour. Usually when it closes outside and then inside the bb like this it indicates selling off. But if the general bias is up the selling is not very deep. Almost flatlining and then to resume upwards.
New York open in 40 mins brings new traders... a lot of time NY will reverse the London trend at first. there are standing orders and also some stop hunting that goes on by the different brokers.
I prefer not to be sitting a trade when there is data and markets openings.
This is for study purposes. A good way to learn what not to do as well as what to do.
Okay Closed for -7 pips.

Out for -7 pips... But rather not take a short position....
But maybe it is okay to trade long and short since the day trend is flattened and not identifiable as long yet.
Just wait for a long set ups... Maybe New York...

Okay, in short...
on the thirty macd rolling over and prices head for the 20.
it's not really an up trend on the day yet so both long and short are suitable...
If it stalls here the 20 will come up to meet it.
NY in 30 mins.

If I wanted to go short as seen on the 30, I could have checked the 1 min for a better entry. I would have seen the MACD was rolling over for retracing.

The target is the 20sma on the 30 min which coincides with the lower bb on the 15.
But look at that bounce off the 400sma on the 1 min...
the 400sma is a very powerful ma.

That could be as close as it get to the target. When it is slow like this the sma's and the bollinger bands tighten.
And come up the prices rather than the prices running to reach them. So prices do reach the bb but because they moved. Because the bb moved.
These things all need to become second nature to me. So I don't even have to think about them.
Like driving a car.
One thing is for I don't want to be in a trade like this when NY opens... If it drops even a little I'll close if not I'll close anyway.
I'm short with my "luck" it'll be a new leg up at NY open.
Actually I'm pretty sure that is where it is going. To the 400sma on the 30 min.
3 mins to NY
Whoopie... out for +.02... I can retire now.

NY is open... data in 2 hours.
I think the 400 sma on the 30 min is where it's headed.
After the data I'm think it will pullback some.
So buying the rumor and selling the news in play?

I'd like to be in and out several times on the way.
That's the idea. Know the trend and buy on pullbacks..
I'll get the hang of it.
Practice makes perfect.
Who knows if there will even be a forex market by the time I get it right.
The whole economic system could crash any day.
US national debt per person...

Just not enough market activity.
Out for +2.2
Look for another entry...

No defined trend on the day...

I think this is a bullish pattern on the 1 min.
a "bear trap"
If it pull back again I'll enter again.

yes it was bullish
Could have waited for a pull back.
Trying to break out and go for that 400sma on the 30?

Maybe that was it... the high for the day. New York going to reverse it a bit.
This is what goes on when there is no defined trend.

There's that 400sma. this in on the 1 min
Wherever that 400sma appears it's like a magnet.

This really is a lot of fun. I'm as poor a church mouse. Could really use some money.
But at least I am enjoying what I am doing. And I am learning how the markets move.
Keep practicing.
Need to cleanup, but hey who cares about that!!
Need to eat something, forget it.
Later...

If I was waiting to go long I should have waited for the pullback.
It looked like a breakout.
How many times has that ever happened?
but of the general direction is up then even if I got the entry a little wrong it won't matter.
I think it is going up some more to reach the 400sma on the 30.
So let's see if I was right or just stuck in my thinking.
Of course it could back strongly and get stopped out and then go to the 400sma.
How many times has that ever happened?

Sideways until new housing starts in US.. 1 hour.
Then oil 30 mins after that.
Sitting in this position is a waste.
I could have taken a small loss and done 2 good trades at least in the time.
I'll get the hang of that if I practice and this happens enough times. Oh yeah.. I see. duh.
No harm though. I still see this as going up to the400sma.

In US we can't trade with a long and short open at the same time
and there is FIFO rule... first trade opened has to be first trade closed.
It's a real handicap. they allow all sorts of terrible market shenanigans. Really crooked dishonest stuff on high levels. Why they do these stupid rules?
It only hurts little people. I guess that's why.

I don't want to open more than one position at a time.
If I had taken a small loss then I would have had 3 good trades on pullbacks since my bias was trend up.
Rather than risk one big loss...
So I still see more upside on the 30..
But I will wait for pullbacks on the 1 minute