For What Its Worth
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thread: For What Its Worth

  1. #1
    Senior Member Juana.pkmixxar's Avatar
    133

    For What Its Worth

    As a new member of FF, I thought I would add my 2 pips value to the website by beginning this trading diary. I will, from time to time, present a sample of my trades in the current trading day. I'm putting this oncliqforexsince I think there are a couple of good Currency Market traders here, and I am open to your thoughts and opinions on what I am doing (it is working for me personally ). I will gladly exchange thoughts with anyone, but please do not be offended if you're a new trader, since I'm not attempting to help new traders figure out how to exchange.

    So, here is what I traded this morning on the EURUSD. Trade A was at approximately 3:10AM CST. It was my very first trade of the day and I wasn't searching for more than 30 pips, which I captured. The next trade, B, has been afterwards in the afternoon and has been a consequence of the squaring up of the move down. My egy was supposed to enter at B and then hold on to it until the .786 fibo was struck, which it did. All in all, a slow dawn however a couple of pips are in the bank to start the week.

    Here's a chart for referrence:

  2. #2
    Senior Member Juana.pkmixxar's Avatar
    133
    Re-entered the E/J in 133.72 upon hitting the .50 fib of the move down. Now shielding 133.70 with new goal of 133.17 (the -1,27 fib).

  3. #3
    Senior Member Juana.pkmixxar's Avatar
    133
    OK, NFP tomorrow in NY open, but the exact equivalent report for Canada an hour and half ahead of NFP US. However, for GBP, PPI before that in London. Should be some interesting trading tomorrow. Word of caution: the Labor Department will adapt unemployment by about 850K tomorrowwhich alone should drive the unemployment rate from 10.0 to 10.3'ish (at least). Very nervous trading around this amount, and when coupled with queries about EC (Greece, Spain, Portugal, etc) and also the G7 meeting this weekend, then expect just about anything.

  4. #4
    Senior Member Juana.pkmixxar's Avatar
    133
    GBP$ - Day is up, 4H is up, 60 is up.
    EUR$ - Day is up, 4H is up, 60 retracing.
    EUR/JPY - Day is up, 4H is up, 60 is retracing.
    $/JPY - Day is down, 4H is down, 60 is retracing.

    Potential divergence on the GBP$ and EUR/JPY.

    Edit: As of 11:00 AM CST, GBP$ proceeds to push higher; EUR$ and EUR/JPY continue with retracement; $/YPY could be returning to fashion, but in addition could be stalling/going into a range .

  5. #5
    Senior Member Juana.pkmixxar's Avatar
    133
    Ed, re: GBP Trade: Entrance was 1.5986. Move stop now (11:22) to 1.6055, target still 1.6150. 1.6075 is stalling and given the time of day shield profits for the day. Proceed lunch and enjoy the afternoon.

  6. #6
    Senior Member Juana.pkmixxar's Avatar
    133
    Staying focused on the GBPUSD, expect the price action to proceed to approximately 1.5940 to square today's action/gap, before going to the 1.6150 goal. New information, however, that may change things: US discovered less interest than anticipated at the auctions now, so this could lead to some real fireworks afterwards. Heads up and stay flexible.

  7. #7
    Senior Member Juana.pkmixxar's Avatar
    133
    USDJPY exchange this day after Tokyo open. A break of a previous significant amount at 95.48/50 along with a fast buy. Risk was little at 15 pips and a goal of 40 pips. Keep the TA beneath the covers and here's a chart of the trade:


    The hook back to the 95.48/50 level (critical move) after entry helps confirm that the trade.

  8. #8
    Senior Member Juana.pkmixxar's Avatar
    133
    Traded that the GBPUSD up all morning. Then a nearly flawless example of a quick retracement trade presented. Entry is at A (1.6112) at which the fibo foundation is breached (note that the price action failed to reach the previous high). Once the foundation has been breached the very first target is that the -.27, the next target is that the -618, and the third is that the -786 (at 1.6076). I had a little position on this, with a tight stop and a limit of 1.6075.

    This is the chart:


    A better entry was likely the engulfing candle prior to my entry a candle back.

  9. #9
    Senior Member Juana.pkmixxar's Avatar
    133
    If anyone is reading my posts, be sure to take a time to also read the ribbon on the 5 second L, which outlines a egy which should work on nearly any time period. Slightly different from my egy but it may work with minimal risk and maximum reward.

  10. #10
    Senior Member Juana.pkmixxar's Avatar
    133
    Very busy morning. Posting some advice in my GBPUSD trades. Three in total about the pound. Trade A got things going following the trend line break along with the hook back. From that point, simply enter following the pull backs (assess the 5min or 3 minutes. Charts for a better perspective of this price action).


    Similar trades today on the EURUSD and the EURJPY.

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