FXjake's Free Pips

[FX_jake]

Hi FX jake,

I've been following your thread for a while now and appreciate the time and effort you give sharing your trades.

Thanks!

I'm new to technical FX trading and have never copied your trades until this one as it matched my setup exactly.
I drew my s/r levels by eye and looked for price action above the support line and then used the daily pin bar as added rationale to play long..

That looks like a nice bullish bar to me.

do you do the same thing?
i read earlier in the thread that you find levels 'as you see them' and then play candle/price action around them..
however i have been trying to reverse engineer your trades and previously thought it may have something to do with calculated pivots and the swings through them?

I don't use pivots, but I am aware of very successful traders who do. I sometimes will put other stuff on my chart when it gets a bit boring looking at price, fib retracements, moving averages, MACDs, all that stuff. But really it is simply decoration. I like to see the market hit a nice support/resistance zone and then print a bullish or bearish candle. If the market hits support or resistance and doesn't really show it's hand, I wait for the next trade.

thanks for all your advice so far..:smart:
joy

 

[deboy]

Thanks for the reply.
I think i'm beginning to learn something.
GBPJPY - daily TF setup from yesterday triggered your entry?
i missed this one, but may look to enter on an Inside bar above 15050 minor s/r level..with targets very similar to yours

 

[smbtnt]

fxjake, have to say you are very cool...really enjoy this journal, embodying the true meaning of KISS

 

[FX_jake]

Nzd/usd

I know this probably hasn't made the news outside of Australia, but there is a very big red cloud making things a bit hectic in New South Wales and Queensland....... but the good news is this has kept me inside and I have been looking at charts.

So, naturally I have found a trade, I hope this works out for all of us:

I will sell the NZD/USD if it trades below

0.7175 during the European session tonight

stop @ 0.7315
target 1: 0.7110
target 2: 0.6950

Happy Trading All!

 

[FX_jake]

fxjake, have to say you are very cool...really enjoy this journal, embodying the true meaning of KISS

Cheers smbtnt - it wasn't always that way for me, like many traders I have learned that most indicators simply lag. Give me lines and some common sense and I am happy. Glad that someone is reading here.

 

[deboy]

Yeah fxjake, the news made it over here..farmers used to say 'red sky at night shepherds delight, red sky in the morning shepherd's warning....' maybe someone out there is using this phenomenon as a market prognostication..'red sky 24/7, future fx bloodbath!' Lol

ps i really like this game of snap we're playing. thanks once again for sharing..it's nice to know i'm starting to see things more clearly now

 

[smbtnt]

Cheers smbtnt - it wasn't always that way for me, like many traders I have learned that most indicators simply lag. Give me lines and some common sense and I am happy. Glad that someone is reading here.

I have always admired anyone who sticks to one's guns and trades absolutely. Yes along the way you will get some losers but more often than not your MM rules and reading of price will get you there...

ps: good luck with kiwi, i do not have the courage to short this beast of a trend but currently 2 pin bars showing on dailes so maybe this could be it....

 

[FX_jake]

NZD/USD Target 1 Achieved

I have always admired anyone who sticks to one's guns and trades absolutely. Yes along the way you will get some losers but more often than not your MM rules and reading of price will get you there...

ps: good luck with kiwi, i do not have the courage to short this beast of a trend but currently 2 pin bars showing on dailes so maybe this could be it....

The first target was hit, down at 0.7110

 

[FX_jake]

I will sell the NZD/USD if it trades below

0.7175 during the European session tonight

stop @ 0.7315
target 1: 0.7110
target 2: 0.6950

Happy Trading All!

First target was achieved at 0.7110

I will set the stop to break even and shoot for 0.6950 now.

Happy Trading!

 

[counter_violent]

What an excellent thread...keep it up Jake

 

[FX_jake]

EUR/GBP Short

Sold at 0.9187
Stop @ 0.9305
Target 1: 0.9142
Target 2: 0.9080

 

[FX_jake]

EUR/GBP Exit

Sold at 0.9187
Stop @ 0.9305
Target 1: 0.9142
Target 2: 0.9080

The first target was hit yesterday and instead of waiting around, I exited prematurely on the second lot at 0.9109, it may go lower today, but I am not willing to wait around and wait to see.

Happy Trading!

 

[FX_jake]

The first target was hit yesterday and instead of waiting around, I exited prematurely on the second lot at 0.9109, it may go lower today, but I am not willing to wait around and wait to see.

Happy Trading!

chart attached

 

[FX_jake]

Aud/jpy

Sell AUD/JPY at 82.93
Stop at 84.26
Target 1: 81.95
Target 2: 81.45

 

[FX_jake]

Sell AUD/JPY at 82.93
Stop at 84.26
Target 1: 81.95
Target 2: 81.45

stopped out

 

[FX_jake]

Eur/jpy

Sold at 136.85
Stop at 138.50
Target 1: 136.00
Target 2: 135.00

 

[Weighbridge]

Great thread FX_jake, thanks for sharing your trades.

 

[FX_jake]

Sold at 136.85
Stop at 138.50
Target 1: 136.00
Target 2: 135.00

First target achieved for +85 pips.
Will target 135.00 - the second target,
have moved stop loss to break even.

 

[FX_jake]

Great thread FX_jake, thanks for sharing your trades.

Cheers Weighbridge.

 

[FX_jake]

First target achieved for +85 pips.
Will target 135.00 - the second target,
have moved stop loss to break even.

Trade now closed, second target achieved for +185 pips