Wednesday, November 30, 2011

GBP AUD


I wanted to jump in on a long so I could ride to the top 600ish away.

I jumped in and ended up 140 up, which was probably the end of wave 5, I held on for more and got retraced to my opening, (shoulda moved my stop or taken the profit?) and then opened another long full of confidence.

As I was going to bed I put 1 of them 1:1 and came out on top.

Over the Thanksgiving weekend, Belgium got downgraded which may have been the cause for the week opening to be so low and got stopped out.

Most previous Monday's have opened closely to the close so I wasn't anticipating a gap.
AB says the phoenix has only worked once in the last 4 times this year when the gap was more than 100.

GBP USD


I noticed the up trend line and thought the candle had broken through it, along with a slim divergence on the AO.
Sentiment was generally Bearish so I was gonna join in,
but the FED and central banks all got to together and shared USD to EUR which weakened the USD and sent everything else up.

http://online.wsj.com/article/SB10001424052970204012004577069960192509068.html

Actually looking back there was convergence of a 50 and 61 fib level for support to go up.

Am I looking for evidence to support (ill) preconceived sentiment rather than what the charts are saying?

Friday, November 11, 2011

complicated reasoning


I went short because AB was keen for it,

I left it overnight without a TP - I shoulda set it to 1:1 or 1:2 and been happy, greed played a factor as to why I didn't.

The next morning LTG were anticipating the return to 200 and to renter short.

I missed the re-enter but had moved/increased my stop so was still in and now more hoping it would drop.

Previous price movements didn't look likely to drop to me so I was relying on Fundamentals to come true.

Monday, November 7, 2011

the 1st one


I picked this one on my own.

I think on the Daily it was just coming back under the 50 EMA and I could see the engulfing candle forming on the 4H.

I went for a 1:1 because I was going to bed and it all worked out :)

Could've gone 1:2 but that wasn't the plan.

Gotta add the spread!


I missed out by 2 pips (on the sell price)! If I had of included the spread difference it would have worked :(