My trading journal - plus wave counting bits (old Trumps surprise visit to N.Korea)

cantagril

Senior member
2,501 627
Have you considered that posting your analysis in a thread entitled "Trump's surprise visit to Korea" affects the number of readers. Perhaps you could change it to something a tad more apposite; then we'd know what to look out for :)
 

ssam

Well-known member
280 8
Have you considered that posting your analysis in a thread entitled "Trump's surprise visit to Korea" affects the number of readers. Perhaps you could change it to something a tad more apposite; then we'd know what to look out for :)
Ageed - done as suggested, should probably ask someone to move this to the trading journal thread.

Any ideas who to ask?
 

ssam

Well-known member
280 8
Ands its Sunday again folks - the chart analysis commences.

GBPJPY nice structure for a pending developing - a 5 wave motion down on the 4hr in calling for an ABC correction.
You can see I have a pending buy set on the break of the purple trendlines on RSI and chart on the 4hr.
I am expecting this to respect the downward trend line in purple on the chart but feel this would make a nice 2:1R trade.

On the daily, a nice break of the purple trendline and RSI might make a nice little trade.. but only short term, the bearish trend continues here.
266017
266018
 
M

member275544

0 0
And I am returned fresh from the Amalfi coast and full of fresh pizza, caprese panino and gelato.

Not Italian by any chance Sam?
 

ssam

Well-known member
280 8
And I am returned fresh from the Amalfi coast and full of fresh pizza, caprese panino and gelato.

Not Italian by any chance Sam?
Unfortunately not, just a simple minded Englishman that likes the Italian food and Mediterranean way of life.
 

ssam

Well-known member
280 8
Got my arse kicked by the trade posted on Sunday - running my stop waayyy to tight. Had I dropped this below the purple support line I would have still been in the trade and secured 50 pips.

We win some we lose some. It all helps toward refining the strategy.
 

ssam

Well-known member
280 8
Ands its Sunday again folks - the chart analysis commences.

GBPJPY nice structure for a pending developing - a 5 wave motion down on the 4hr in calling for an ABC correction.
You can see I have a pending buy set on the break of the purple trendlines on RSI and chart on the 4hr.
I am expecting this to respect the downward trend line in purple on the chart but feel this would make a nice 2:1R trade.

On the daily, a nice break of the purple trendline and RSI might make a nice little trade.. but only short term, the bearish trend continues here.View attachment 266017View attachment 266018

Here is a chart update... the ABC wave call from the 5 at the bottom came to light... there be magic in these wave counting, Fibo
266371
.


Chart below, nothing changed!
 

fibo_trader

Senior member
2,915 58
Here is a chart update... the ABC wave call from the 5 at the bottom came to light... there be magic in these wave counting, FiboView attachment 266371.


Chart below, nothing changed!



Good Man, astounding progress. You're becoming a very impressive fellow, Sam. Your trendiness are superb, S/R magnificent. your wave counting is sheer poetry. That I had even a wee little bit to do with it makes a happy fella.

Like you said, nothing has really changed in GBPJPY as the trend tends to continue and we just sit on our hands. I'm reluctant to try to be too smart and fck it up by messing with it. So just one look and that's it. Far from the trendline on daily so to hell with it. Yours is a 4H mine is a daily so note the difference if any.

I have not shown a wavecount for this leg as somethin in there is bothering me.


266755
 

fibo_trader

Senior member
2,915 58
Sam, the rally from the bottom on 4H looks corrective (a 3-wave type) which means it will be fully retraced sooner or later
 

ssam

Well-known member
280 8
Thanks Fibo - you have planted seed for any chance of chart time has been well and truly halted by poor rural WiFi! But still I have TA books to read.

You planted the seed Fibo, I just need to run with it now and spend the time putting it to practice. Which is proving difficult tucked away in a small rural farm in Brittany. I have my note book with me and am blessed with some time to get some forum nuggets down on paper.

I am still far from having a solid trading plan and process to identify sound, higher probability trades but this will come in time. I have also managed to increase my capitalisation this month with some disposable cash at the end of the month, so we are one step closer to being on the path to full capitalisation.

Noted on your comment R.E the corrective wave type and will continue to monitor this move through to completion.
 

fibo_trader

Senior member
2,915 58
Sam, the rally from the bottom on 4H looks corrective (a 3-wave type) which means it will be fully retraced sooner or later


OK, so 3-wave rally up finished. Now its doing a downwave - will it be a 3 or a 5? The divergence being built up on Macd might offer a clue. There could be a C-wave rally aborning that could go for the trendline to kiss it or blast it. If so, its length will be minimum 61.8%. I would not be too shcoked if the rally if any heads to the 200-day. Just my 2 cents. The overall SHORT continues unabated however.


267021
 

fibo_trader

Senior member
2,915 58
OK, so 3-wave rally up finished. Now its doing a downwave - will it be a 3 or a 5? The divergence being built up on Macd might offer a clue. There could be a C-wave rally aborning that could go for the trendline to kiss it or blast it. If so, its length will be minimum 61.8%. I would not be too shcoked if the rally if any heads to the 200-day. Just my 2 cents. The overall SHORT continues unabated however.


View attachment 267021

Slam Dunk! Downwave mentioned is a 3-wave as is obvious, so rally is the C-wave I suspected. Comments on Divergence were top of the line. Obviously with the trendline breakout the SHORT is terminated. FLAT now Note the Fibo level shown in prev. chart is also the one that generated the blast off


267196
 

fibo_trader

Senior member
2,915 58
you got a twofer ............. here's your other pal, GBPUSD.

Nailed him too. You had questions or doubts about Macd - see the divergence response unit? Stellar. Never underestimate the creme de la creme indicator. Trendline busted too


267197
 

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