Hello fellow traders!
I am opening this trading log on Wednesday, June 6, 2022. Welcome to summer trading where things get goofy real fast!
Let’s see if I can weather the many upcoming storms. I will be listing these in order that I take them.
I am using the 1-minute Heikin Ashi Chart on most major pairs to take swing trades (1:2 RR). My broker uses a hybrid of super-tight spreads and modest commissions so I can trade the lowest timeframe charts.
I typically trade the overlap between the London and NY sessions. However, I also trade the Asian session during my evening hours, especially if there is nothing to watch on TV.
Trade #1: 6/1/2022 NY overlap
This is the 1Min USD/CHF.
The green line is where I entered, the red is the stop loss order, and the blue is the target. Then we got this:
Not time to panic, but:
At this point, I realized it was not strong enough for a swing, so I settled for a scalp. On to the next one!
Trade #2: Right at the close of London
This is the AUD/USD 1 min. The bear flag is fairly weak and breaking the TL down to support. If it barrels strongly through support, I will hold, otherwise, I will be content to take profit there.
I trailed my stop here. I could hold and wait for price to break through support, however:
Reversal signal at support means GET OUT! So, I did. Took a 1:2 based on actual risk.
Trade #3: What was I thinking!
I spotted this interesting wedge reversal pattern on the EUR/USD 1-Min and decided to jump on any continuation of it. And I do mean ANY. So, I entered here:
Now I will admit that most of my entries are scary looking, but this is Friday the 13th scary! I honestly thought I had a breakout developing, but it pooped out early:
Okay, I misread this one, so sue me. I was content to take a small loss here. This happens a lot with swing trades. If you miss a good entry, the last thing you wanna do is hold until you stop out. Just take the small loss and enter again when you get a better opportunity.
Trade #4: UCAD bear channel
This looks pretty good for continuation down:
The channel is widening a bit, so this is gonna take while. Do I have the stamina to hold?
NO! Absolutely not. The candles are getting tiny and I’m becoming cranky, so I am taking this little profit and going home. I’ll see ya tomorrow!