Support/Resistance & Trend Lines

[FXAJ]

Cable long from 1.5550 opened and half closed at 1.5650. Stop now at BE.

 

[FXAJ]

EUR stopped @ 1.2865

 

[FXAJ]

Open Positions
Long GBP/USD half position from 1.5550, stop @ BE

Orders
EUR/USD
Sell @ 1.3045, (resistance line), 75 pip stop
Sell @ 1.2725, (upward trendline, 07/06+30/06), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 88.50, (resistance line break), 60 pip stop
Sell @ 87.90, (resistance line), 60 pip stop
Sell @ 87.40, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 86.20, (downward trendline, 21/06+14/07+27/07), 40 pip stop

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Sell @ 1.5560, (upward trendline, 08/06+12/07+21/07), 70 pip stop
Sell @ 1.5450, (support line break), 100 pip stop

 

[FXAJ]

GBP/USD short from 1.5560 triggered

Open Positions
Long GBP/USD half position from 1.5550, stop @ BE
Short GBP/USD from 1.5560, stop currently 1.5621

Orders
EUR/USD
Sell @ 1.3045, (resistance line), 75 pip stop
Sell @ 1.2740, (upward trendline, 07/06+30/06), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 88.50, (resistance line break), 60 pip stop
Sell @ 87.90, (resistance line), 60 pip stop
Buy @ 87.30, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 86.10, (downward trendline, 21/06+14/07+27/07), 40 pip stop

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Sell @ 1.5450, (support line break), 100 pip stop

 

[FXAJ]

GBP/USD stopped @ 1.5567

 

[FXAJ]

Open Positions
None

Orders
EUR/USD
Sell @ 1.3045, (resistance line), 75 pip stop
Sell @ 1.2755, (upward trendline, 07/06+30/06), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 88.50, (resistance line break), 60 pip stop
Sell @ 87.90, (resistance line), 60 pip stop
Buy @ 87.20, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 86.00, (downward trendline, 21/06+14/07+27/07), 40 pip stop

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Sell @ 1.5450, (support line break), 100 pip stop

 

[FXAJ]

Open Positions
None

Orders
EUR/USD
Sell @ 1.3045, (resistance line), 75 pip stop
Sell @ 1.2760, (upward trendline, 07/06+30/06), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 88.50, (resistance line break), 60 pip stop
Sell @ 87.90, (resistance line), 60 pip stop
Buy @ 87.15, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.90, (downward trendline, 21/06+14/07+27/07), 40 pip stop

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Sell @ 1.5450, (support line break), 100 pip stop

 

[FXAJ]

EUR/USD short from 1.2760 open and half is off @ 1.2700. Stop now at BE.

 

[Jason101]

Hi FXAJ,

Just wondering what your bottom line is now?

Jason

 

[FXAJ]

All orders pulled until next week.

 

[FXAJ]

Hey Jason, if you mean return then August is currently up 8.4%.

It's been reasonably quiet. I prefer it like that!

AJ

Hi FXAJ,

Just wondering what your bottom line is now?

Jason

 

[Jason101]

Hey Jason, if you mean return then August is currently up 8.4%.

It's been reasonably quiet. I prefer it like that!
AJ

Yup, that’s what I meant. Thanks

8% Good for you.

So the slower month has been good for your profits?

Have you found your equity curve increasing as you trade, learn, practice and refine each month?

If so what have your previous months been like since the start of your thread?
Do you have an equity curve chart?

Is this the first time you might be looking at the possibility of becoming consistently profitable?


No matter what time frame, indicators, signal service, method, system etc. is used.
I believe without the market map knowledge you show in your graphs any trader would be doomed to failure.

Good Luck

Jason

 

[FXAJ]

To be honest the slower months are generally less profitable as there are fewer trades but it gives me a little more freedom.

I've been profitable for a while now. I'm just prone to have a punt from time to time or to ignore a setup based on what I think might happen. I'm also pretty lazy at keeing my log up to date!

I'm really hoping to smooth my equity curve a little more. It seems to be working so far

I consider 4% a month to be a good return for any trader. If 4% isn't enough for someone then I'd say they might need more capital.

I also don't split my capital and thus compound across strategies. Trading eur alone generates more than 4% on average so adding in jpy and gbp plus other strategies accelerates the equity growth.

I believe it's possible to generate in excess of 25% per month under a certain account size. I may take that challange one day

AJ

Yup, that’s what I meant. Thanks

8% Good for you.

So the slower month has been good for your profits?

Have you found your equity curve increasing as you trade, learn, practice and refine each month?

If so what have your previous months been like since the start of your thread?
Do you have an equity curve chart?

Is this the first time you might be looking at the possibility of becoming consistently profitable?


No matter what time frame, indicators, signal service, method, system etc. is used.
I believe without the market map knowledge you show in your graphs any trader would be doomed to failure.

Good Luck

Jason

 

[FXAJ]

Sunday Order - 22/08/2010

Open Positions
Short EUR/USD half position from 1.2760 stop at BE

Orders
EUR/USD
Sell @ 1.3045, (resistance line), 75 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 88.50, (resistance line break), 60 pip stop
Sell @ 87.90, (resistance line), 60 pip stop
Buy @ 86.95, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.80, (downward trendline, 21/06+14/07+27/07), 40 pip stop

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Sell @ 1.5450, (support line break), 100 pip stop

 

[Jason101]

Thanks, thats intersting,

I like the fact that you are plugging away, with out the big song and dance some members make.

and good trading to you.

Jason

 

[FXAJ]

Appreciate it dude.

Trade well.

Thanks, thats intersting,

I like the fact that you are plugging away, with out the big song and dance some members make.

and good trading to you.

Jason

 

[FXAJ]

Open Positions
Short EUR/USD half position from 1.2760 stop at BE

Orders
EUR/USD
Sell @ 1.3045, (resistance line), 75 pip stop
Buy @ 1.2750, (downward trendline, 09/08+19/08), 60 pip stop *new*
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 88.50, (resistance line break), 60 pip stop
Sell @ 87.90, (resistance line), 60 pip stop
Buy @ 86.85, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.70, (downward trendline, 21/06+14/07+27/07), 40 pip stop
Sell @ 84.80, (upward trendline, 11/08+19/08), 40 pip stop *new*

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Sell @ 1.5450, (support line break), 100 pip stop

 

[FXAJ]

GBP/USD short from 1.5450 open
USD/JPY short from 84.80 open, half off @ 84.40

 

[FXAJ]

Moving stop to 1.2730 on EUR short

 

[FXAJ]

I'm going to tighten my stops a little here.

USD/JPY stop to 84.55
GBP/USD stop to BE
EUR/USD stop to 1.2675