The apprentice's Journal.

[AspiringTrader.]

Nearly stopped out!! had a small retrace but it's starting to consolidate on the hourlr around the 1.5730 mark, so i've opted out for now.

Closed 1.5731

-34 pts

 

[AspiringTrader.]

Sold into some downside pressure at 1.5719(1h TF), currently +17 pts, will see what happens, hoping it'll hit at least 1.5685ish again, then maybe breakout lower or trade the range back up to resistance, who knows. Will exit at sign of retrace on support if hits, play on a breakout or get stopped BE.

 

[AspiringTrader.]

Covered at 1.5688, just off support. will watch for breakout for re-entry on a pull back.

finally got one back..

+ 31pts

 

[AspiringTrader.]

Just broke 1.5683, wait for pull back then look for re-entry signals

 

[AspiringTrader.]

Entered short on break out, pullback, continuation

Entry 1.5673
Stop 1.5735
target new lows

 

[AspiringTrader.]

Please, Please, Please be good to me this time around. :clover:

 

[AspiringTrader.]

Closed out at 1.5661, after the close on the daily, i think it might have potential to rotate higher before another possible downside rally.

Looking for re-entry maybe around. 1.5750 - 1.5800 lvl, see what happens

+12 pts

 

[AspiringTrader.]

Waiting on BoE minutes to come out in half an hour, looking to sell into downside pressure if data comes out bad.

 

[AspiringTrader.]

Entered at 1.5685, on news of BoE(Saying to leave rates on hold) , sold at 1.5655. on a minor supportish lvl. Unfortunately i covered a little early and missed out on roughly another 30 pts, but it wasn't exactly the worst news for GBP to come out, so i'm happy with what i got.

Wasn't able to post this live because of waiting on the data announcement and managing my trade being that the pair moved so quickly on announcement.

+30pts

 

[AspiringTrader.]

I've placed a limit order to sell at Gbp/Usd 1.5600, being that again it broke out to new lows and that the FOMC rate decision is at 4:15 am where i am so i'll be asleep by then. I think i should be pretty protected and not get hit at that lvl if bad US rates comes out, and well suited if it comes out better than expected. I would assume a continuation on the breakout if it's good news.

Cheers,

AT

 

[AspiringTrader.]

Anyway, i'm down a total -104 pts overall.. eek! At least if anyone does come across this journal they'll be able to see what not to do!

 

[AspiringTrader.]

well, my limit order has been hit already, little sooner than i was hoping. Maybe the breakout can hold this time.

* EDIT *, moved ten points my way but got out break even, was just too early. wil wait to see what happens with FOMC

 

[AspiringTrader.]

FFS.

My limit order was hit too early, which fortunately i was able to get out BE. Price dropped to 1.5578 before rallying up to 1.5688 which would have seen me stopped out. Anyway so i set my alarm(well at least i thought i did) to wake me up at 4:00am for FOMC, which didn't happen. Favorable FOMC decision came out and saw the pound drop practically 200pts. The one ****in short i've been chasing just ran with out me. But i only have myself to blame.

Will look for a retrace and shorting opportunities around 1.5570, hopefully it'll continue it's downward momentum and reach 1.5300ish.

AT.

 

[vking27]

thank you very much for sharing the story of your journey and congratulations on your 1st month of posting your trading journal. You will make it in this business with this type of commitment.

 

[AspiringTrader.]

thank you very much for sharing the story of your journey and congratulations on your 1st month of posting your trading journal. You will make it in this business with this type of commitment.

Thanks mate! really means a lot, cheers.

 

[AspiringTrader.]

Completely missed the boat not getting in on the FOMC, it never retraced like i had hoped. Pretty disapointed with myself. But there will be plenty more opportunities to jump on in the future, this i am sure.

 

[AspiringTrader.]

Looking at short term long position on Aud/Usd. Wont be giving it too much though as i think it has the possibility to go either way. If i do enter a position it will be short term accompanied by a good entry signal. will wait and see.

 

[AspiringTrader.]

Wont' be able to trade it anyway, have to head back to work.

 

[AspiringTrader.]

Follow up on Aus/Usd.

 

[AspiringTrader.]

Looking at possible shorting opportunity on Gbp/Usd.

Hoping for a break lower beneath 1.5620ish confirmed with a closed bearish bar.
Just have to wait and see.

Cheers,
AT