Page 1 of 509 1 2 3 ... LastLast
Results 1 to 10 of 81

Thread: For What Its Worth

  1. #1

    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
    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 .

  3. #3
    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.

  4. #4
    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.

  5. #5
    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.

  6. #6
    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.

  7. #7
    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.

  8. #8
    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.

  9. #9
    Today was a great trading day. Too tired to post a chart. Would suggest any new traders take the time to study the current price action on the EURUSD, GBPUSD, and USDCAD. It's a million dollar lesson in how the markets work.

  10. #10
    Quick chart on the EUR/USD as of the post. A strong move south the morning is showing any signs of a turn or retracement back , maybe to square up positions left stranded last night. Here's the chart showing the transfer to the -.27 fib, with possible amounts to reach in the -.618, -.786, and -1.27 (maybe beyond). Of course, much more to this film compared to space to discuss here, but its a start.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
This website uses cookies
We use cookies to store session information to facilitate remembering your login information, to allow you to save website preferences, to personalise content and ads, to provide social media features and to analyse our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. Read more.