Forex trading journal. Advice welcome

Discussion in 'Journals' started by IeatGoldmanSnax, Jun 5, 2013.

  1. No need for a big speech. If anyone would like to offer advice on my trade (good or bad) or contribute their trades, you're more than welcome to.

    Lets get into the good stuff...

    A/U Weekly chart. Had a nice reaction earlier in the week on news that was sold off hard. Looks like a key level. My guess is we'll see another run. 4hr closed BELOW the horizontal so that's something to take note. Daily did not.

    Weekly support on the 250 EMA.

    Snapshots of Weekly, Daily, and 4hr charts.

    I have an indicator (not shown) that this 4hr candle has a good probability of being the bottom.
  2. Good luck

    I went short audcad today. Uncle above daily bar high, measured move tgt.
  3. Here's the 4hr. Intermediate term trendline is still intact.

    The green horizontals outline the pin bars followed by the confirmation candle.

    Engulfing, pin, harami, narrow range/doji are usually what I try to get in on.
  4. contra


    I would like to see 9500 barriers taken out first and see if 9600 holds as res.

    ECB tomorrow and NFP Friday. Expectations being priced.
  5. gap down at .9438 might be magnet
  6. cool

    you long or short?
  7. You as well! It's been a bit of a wash on these lately for me. I will say that.

    Took the entry on the close of this 4hr candle. .9543 entry.

    Stop at .9493 which is just below the weekly S1 pivot @.9503ish.

    Risk 50 pips.
    Target horizontal at .9762 for 220 pips.
  8. yup. Long on the 4hr. Bit aggressive.

    I'll be stopped out @ .9493 if it makes it down there.
  9. Yup, there's a ton of overhead supply on this and sentiment is against me. Hence the 4:1 R:R.

    Probability > 25% this is at least a temporary bottom for the next 2-3 candles from my standpoint obviously. Enough to get this locked in @ B/E
  10. Yeah I know what you mean,my daily/weekly trading has about a 35% hit rate with higher R/R's ., sometimes it just feels like I'm treading water but then the big one comes that puts bread on the table.

    A small percentage of trades makes the majority of the profits.
    #10     Jun 5, 2013