JOURNAL UPDATE 22/02/2018
Combination of fundamental and technical analysis is the only way to trade!
EUR/USD went below 1.23000 because of the FOMC meetings, paying no respect to S/R, trendlines or any other technical analysis.
Then, price went up with respect to the H4 trendline, continuing it’s bullish trend!
USD Index same as EUR/USD. Violated trendline and then starting to respect it again!
Let’s see what happens!
Happy trades everyone!
Two possible predictions for EUR/USD!
It will continue bullish trend or it will go down to the box and consolidate.
GBP/USD
Practising divergences!
Short on GBP/USD at 1.40000!
I missed my tp for posting!!
EDIT
Just closed my 10 pip win trade!
EUR/USD
Just sold EUR/USD I believe it will go down to DS1 pivot line.
EDIT
This was a really bad trade! -20pips
JOURNAL UPDATE SUNDAY 25/02/2018
USD/JPY
I am short on this pair as it started making LH and LL on Daily timeframe!
I spotted this harmonic pattern in H4 hopefully it will go up there so I can sell it!
GBP/USD
It is in an uptrend on the Daily and it has made a flag pattern on that timeframe!
It has also made a double top and a LH!
Maybe uptrend is over?
Let’s see what happens with BREXIT!
EUR/USD
It has made a double top on Daily chart.
Two senarios:
It will make a HH
it will make a LL.
USD/CHF
Clearly in a downtrend!
I am going to sell when market opens!
Swiss news are expected possitive this week!
JOURNAL UPDATE MONDAY 26/02/2018
USD/CHF
I entered a trade on USD/CHF at R1 pivot line with a risk/reward 1.8.
Here is how it looks!
USD/JPY
On this pair I entered too low at the PIVOT line! I must hold my urge to trade!!!
Risk/reward at 1.
EUR/USD
I am still long on this pair.
I am waiting to retest that resistance and I will trade it.
GBP/USD
The pair rallied at R2 pivot line and rally back down.
JOURNAL UPDATE TUESDAY 27/02/2018
USD/JPY
I closed my trade on the pair!
-35 pips!
Everybody is buying USD nowadays due to the increase in interest rates ahead!
USD/CHF
I am short at 0.93800. It went up but I think it will go down again on the news of Swiss on the next couple of days!
EUR/USD
Went down to the resistance line!
Never gave me a confirmation candlestick so I haven’t traded it yet!
GBP/USD
Just gave me a hammer to buy on H4 at the resistance level that closed above R1 Pivot line!
Also there is the 0.786 fib line so I bought it!
My target is at 1.40000
It s time to short Usdjpy.
What s your opinion?
@dudupips
who… Me ??
hey mate, when asking someone something, so as to be clear, put the @symbol before their name so we know who you are talking to
at least put their name.
so… if you are asking me, i would say this…
SO YOU’RE SAYING IT’S A GOOD TIME TO SHORT IT … ARE YOU ? 
EDIT : As a result of lack of comittment on your part
i have edited my answer to be as follows…
MY OPINION IS YOUR WRONG
AS IS SELF EVIDENT ON THE CHART
if you do your analysis correctly
this should be obvious
good luck
there you go 5 Lines and 1 Picture… Just like you did… Fair’s Fair
You’re Welcome
but for the record, what was your opinion
Why did you decide it should go short ?
i mean, i put up all this information to answer your question.
you didn’t answer mine
Hello dudu,
After the US said that they will increase interests rate several times this year, I believe long term traders are buying USD.
USD/JPY is one of the best pairs to buy in the long term because BOJ has an interest rate of -0.1% and the FED has an interest rate of 1.5% (that will go higher on the next few months).
My technical analysis says sell but fundamentals stop me!
@Hikaros
Are u from Japan? U know currency war
Now is starting. Increasing rates in fact
hurts country economic.
Yes Usa increase and increase rates.But
u see Usdjpy Not bull upside.
Maybe devaluation is a good strategy for most country even Usa.
No, I am from UK mate.
Devaluation is good for country’s economy but the currency of that country will go down.
That’s because they will spend more and more and the currency will loose it’s value.
That’s what I see on the Monthly.
JOURNAL UPDATE WEDNESDAY 28/02/2018
I just bought EUR/USD.
It hit the support line + RSI divergence + a bull candle with a wick
TP on the Pivot and SL on the S1 Pivot.
i think this is a smart trade.
also re this
correct me if i’m wrong, but dont’ you mean SUPPORT
i’m assuming you are referring to the pink line under the green 1.22255
that would be a support line… right ?
or are you talking about the resistance at 1.23472 ??
either way, if you are buying at this point and your T/P is at the Pivot, i think you’ll be good
i think you could even lower your S/L but hey… it’s your Risk calculation, once you place a trade, stick to it
Yes, I mean support. ( I edit it)
I still don’t have certain rules for entry, SL or TP.
I try to gather information about price action and I am trying to write some rules.
I need a plan and I need to stick with it, as you say.
Now… I am just trying to find that plan… and I am trading blind!
Eventually, I need a PLAN with RULES!
For example, I always try to set my TP and SL at Pivot lines + resistance. This is where I am trying to base my rules for SL and TP.
Here is the H4 chart.
Support + S1 pivot for SL
Risk ratio 1:1.
i thought so hehe… but i wasn’t sure.
ok, well S/L … calculate is so you can put it on S2 instead of S1 if possible
basically you find the first support point then find the one below it and put it there. but again this is not a hard and fast rule. it depends on the instrument and how it behaves, but to begin with , you can use this rule
T/P - there’s 2 ways to approach it
Way 1 - don’t put it too far off
so… see that big drop of red candles… well. MEASURE HALF WAY and put your T/P anywhere you like between the entry and that Half way Point
which you have and it HAPPENS TO BE THE PIVOT POINT
and IT’S THE PIVOT POINT FOR A REASON… as well
so what you’re doing is correct
You see mate, even if it goes low again, and if you have your S/P as S2 there is a very good chance that you can break even, so what you’re doing here is good
Now
WAY 2. You let price get up a bit , say about half way to the T/P then move your stop loss line to be 1 pip in profit or 2 pips if you like
when you do this… you have no risk
before you this… YOU HAVE RISK
the idea is… to miniize risk wherever possible
so let’s now go back to this…
so… am i now changing the plan ?
NO… NOT REALLY
you see when people say, put a S/L on and don’t move it
they mean DON’T INCREASE IT
there is nothing wrong with decreasing the risk
so if you want to start a strategy, use that HALF WAY RULE if you like
and you use that 2 levels lower rule or higher (Depending on what applies) for the stop loss
No… don’t set them AT PIVOT LINES
offsett it off the line by around 15 pips or so, Never go right on the line
Same goes for T/P
the idea is… if it hits the pivot point and it likely will, you don’t want to get stopped out when it’s gonna bounce off the line
but … if it goes 15-20 pips through the line… THAT’S DIFFERENT, that’s a loss
as with T/P what if it doesn’t reach the line by 2 pips, so… set your T/P around 10 pips off the lline, Below it if buying.
as for Risk to Reward hehe
don’t get too hung up on the whole 1:1 thing minimum ok
you could have 3 times the risk and 1 part reward and all you need to do is make sure that you get 4 trades before you get a loss
so let’s say you have a take profit of 30 pips
and a stop loss of 90 pips
well . it’s more likely that it will hit the 30 pips before the 90 even after 5 or 6 trades
so keep that in mind as well
but you are doing ok so far.
