I've been seeing your diary from day one. Nice and clear journal..only no chart..but that's okay..please keep it up. .
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I've been seeing your diary from day one. Nice and clear journal..only no chart..but that's okay..please keep it up. .
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Thank you FX_California. I don't understand how to post chart illuions sad to say. I have been advised to do a print screen of it and then paste it in the post but it doesn't work on my PC. Do you've got suggestions? That will make everything so much clearer.
This week so far has been about exciting as fishing at a dead pond. The price is ranging, really indecisive at the moment. I will not take any longs at this point unless 210.74 is broken and even then I will not hold the commerce for more than 50 pips until I view more momentum. When 208.62 is broken, I'll go short for 50 pips. 208.00 may come into play for short but I want to find the price action to ascertain that.
Longs
210.74 split T/P 50 pips
shorts
208.62 break T/P 50 pips
This week has been boring to say the least. It simply hasn't been secure enough to enter any transactions on this particular currency. The only good break worth trading has been the 212.00 long on Sunday but I do not trade Sundays so I am looking at two currencies for rear around the GBP/JPY. At this time I'm placing S/R lines on the charts and analyzing exactly what times the transaction volume is the greatest. I'll still just trade the London session and probably won't trade the GBP/JPY till it decides to violate 214.00 or reverse.
I enjoy my current system of how I trade the GBP/JPY but during times like these I am not getting several transactions because certain criteria are not met. I see two choices, trade other currencies in the meantime or come up with a 2nd system to use during low volume. I opted to do . Both currencies that I am looking at for backup would be the GBP/CHF and EUR/GBP. Today I did 70 pips on the GBP/CHF and 10 pips on the EUR/GBP using my current trading procedure. Of course I will continue to check this before posting my entrances and exits. The 2nd system that I will develop may take some time to test but will use the 1min, 5min and 15min charts and a much smaller S/L and T/P. The 2nd system is only going to be employed on the GBP/JPY once the trade volume is determined.
Have a good weekend everyone
Hai momstrade pleasant to see ur journal. . .hope u get fine pips for this week, I waiting gbpjpy daily price near above 212.20 to buy for upside..for now I think market is very slow until FOMC....that just my opinion...