Dear Journal,

After a long long break with much rest and revision, I am happy to say, “I am back”.

My plan to build on the progress I made in my last journal are as follows:

  1. Trade only one(1) pair :- GBPNZD
  2. Take 1-3 trades per day :- with a goal of 60pips for the day.
  3. Trade only one(1) Timefreame :- 15Min - H1 Charts
  4. Fixed Trading days :- Mon-Thurs
  5. Fixed Trading hours :- 2am to 11:30am EST
  6. One Strategy :- Same Strategy from my previous Journal


Price Action with Candlesticks

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What made you choose GBPNZD? Also, would you mind please posting your strategy in this thread also so we don’t have to go searching for your other journal? :slight_smile:

Looking forward to following your journal entries.

Good luck with your next target

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It’s a nice, steady, “pipful” pair, almost unaffected by US news.

Dear Journal,

I’m planning my first trade though I have to make some changes to post#1, which now cannot be edited. So here we go.

Arrggghh. I protected this trade too early and was stopped out -1 pip. But it was a good trade.

Now the 1 hour chart is showing a buy setup. Limit order set at 1.9852, risking 16pips for 45pips.

Took an entry at 1.98636 as based on the price action near the zone.

Dear journal,

I could kick myself many times. The analysis was good, The trade went to TP, but a poorly set stop resulted in loss. My stop should have been below structure.
Lesson noted.

My first trade for this morning. Opened a short trade @ 1.98924 risking 30 pips fro 42pips.
Entry price 1.98924

Update on my current trade.

I now have two positions running. An additional short position was taken at 1.9902 based on the H1 rejection of the zone. I have also marked the 4Hour zones and will be taking profit on my first position as planned and on my second position at the lower zone as price movement permits.
I am anticipating that the current 4 hour bar will break through and close below the upper 4 Hour zone, then we will see a rejection of this zone to allow for price to fall to the Lower 4 Hour Zone. All going as analysed, I will take another short position on that rejection.

So this journal entry I don’t know if I should laugh about or be mad about, but it certainly tells me much about my broker, EagleFX. I will wait for them to explain or resolve.
I cannot tell you why my TP was not filled. The spread on this pair is about 3 piops.

My second trade plan fort today. Basically, continuing from my previous trade plan. Only awaiting bar close and return to the 4Hour Zone OR if there is rejection at the current 1H Zone, I will short.

The market didn’t come as close to my planned entry, so this trade left me.

Bought 15min Pinbar at the bottom of the H4 zone. I mistakenly deleted all my drawing tools before snapping. Chart coming up.

Entry Prices : 1.97401, 1.97413, stop @ 1.97074

Stopped out quickly on this trade. I felt there would be another push if price is going to reverse here.
Stop hit

Why avoid 12noon to 4pm

Sorry robingens1, there is better volume in that window for Day Trading.