FX trade journal

[History Repeats]

Mainly swing trade using price action with little bit of fundamental mixed in.
Time frame, Monthly down to 4h.
Only trade 3 pairs euro, jpy and gbp, all against usd.
Setup, pullback and reversal.

Current view
Euro, hns pattern broken neckline. Price down to support formed in August as of today, although price still in up trend, my price action scoring is -11 not supporting the up trend.

Jpy, in range and massive rebound from the low that closed below the rang low. My scoring 6 supporting the rebound.

Gbp, same as euro but my scoring 2 not supporting the up trend.

Different colour lines
pink, daily line
green, weekly line
purple, monthly line
grey, support/resistance line. Grey box for range. Only exception grey line on 1h chart used for opening range
blue, quarterly line
daily line change daily, the rest of the line changes as the name implies. I mainly trade off weekly and monthly lines.

 

[History Repeats]

I trade weekly line off 1h chart. Current trade, pullback entry off weekly line in gbp.

 

[History Repeats]

closed gbp shorts, due to price action after the big range up bar and the way jpy is trading, going down. Had 3 shorts with initial sl around 40, tp 85 with 1 short reached tp. Total +31 pips.

 

[peter2]

Good. I think trading the larger time frames is a good tactic with your work commitments. You can trade the 4H or daily charts while working and then use the 1hr charts for smaller risk setups when you have the time. Make sure you always trade the 1hr charts in line with your view of the larger charts.

I also like the pre-trade scoring idea. Hopefully this keeps you consistent and capable of getting you into the bigger daily swings. I'm hoping that the scoring is based on your beliefs of market structure.

eg. GBP is in a daily up trend but price is now at a possible level of support (prior high). This is a good level to look for setups as price will either find support here as it did last time or this level will fail and there's plenty of room to fall. GBP traders should be on the edge of their seats.

 

[History Repeats]

Yes as to the scoring mine is based from Mark fisher's the logical trader, the guy actually trade no tjust book writer. But you can't use the exact same thing from the book, the stuff in the book still but you need to come up with your own stuff by using the logic/context of the book. I will show some chart examples later. Gbp news in 1min.

 

[History Repeats]

short gbp again, carrying overnight more risk than usual with more incoming US data and Yellen speaking. But position size is small.

 

[History Repeats]

Moved stops to break even plus few ticks. Initial Sl 30, tp 47,90 pips for the above short. Anticipate volatility for draghi and Yellen speech but in the end non event.

 

[History Repeats]

tp reached on gbp. Jpy confirmed my weekly downside level but wary to short it, bounced right above it and long term still in up trend but recent momentum died. And Gbp tagged monthly down level looking for breakout pullback trade.

 

[History Repeats]

what a drop gbp, now with good US data fuel on fire. Might not be a stretch today to reach 1.295-1.29 area.

 

[History Repeats]

euro, point of interest in yellow circle. May form a bigger head and shoulder pattern as it bounce of from support. Long term trend (30 days) still negative and short term strength went from negative to positive. Until long term trend turning positive, still like to short rally to resistance.

jpy, interest yellow circle. price near top of the side ways range in the box and looks toppy. Long term trend just positive and short term went from positive during the week to high negative, alerting me possible change of trend in the making.

Gbp, interest at yellow circle, and positioned some sell limit order. Price broke and confirmed my monthly down level and not surprised if price reach range bottom around 1.29. Long term trend and short term strength all negative, more the reason to look for short on any rallies to resistances.

Light on news this week till Thursday.

White line Quarterly level.

 

[History Repeats]

first short gbp limit order filled at 1.3183, sl 1.33, tp 1.2930.

 

[History Repeats]

Update:
Euro, short term momentum and monthly turn positive, long term positive but not confirmed. Close above 1.1863 today, i can see a test to the recent top.

Jpy, pretty much all turned neagtive. 111.878 point of interest, a break would cause bigger drop.

Gbp, unlike euro turning positive but much weaker. Still have shorts on, will decide on Friday to close or not after seeing US data. Price went back above monthly line, not what i want to see after break of monthly line to the down side earlier in the month.

 

[History Repeats]

Volatile over night session for Gbp caused by Brexit talks. 2 short trade stopped out, +16 and -45 pips. Currency flows has changed Euro and Gbp short and monthly momentum has become positive with Euro the strongest and usd/jpy becoming negative, this can be seem on the chart price rolling over. All 3 pairs 30 day rolling trend measure all at cross roads.

 

[History Repeats]

Risk appetite remain high as seen through major equity index around the world, vix index near historical low, and low high yield spread. This supported by near year high copper price showing good economic growth. Also through gold performance against major currencies.

Eur and Gbp flows turning positive last week or so with Usd turning quite negative. Area of interest in yellow.

 

[History Repeats]

Long u/j, entry 112.04, sl 111.6, tp 113.04. Weekly trade,close out on Friday or hit sl, carry over the weekend x amount in the money.

 

[History Repeats]

stop moved to break even plus few ticks, 112.06

 

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tp reached on U/J long.
Watching Gbp with brexit talk tonight.
Euro very stong, looking for another higher/equal low. May be will set up a trade next week.

 

[History Repeats]

short Gbp, entry 1.32, sl 1.3234 and tp 1.313.

 

[History Repeats]

stop BE. Brexit rhythmic heats up lol.

Edit: add that with Catalonia independence = fx volatility, risk off

 

[History Repeats]

Gbp tp reached. Euro rebound nicely.