Support/Resistance & Trend Lines

[FXAJ]

EUR and GBP closed out after the spike from US home sales.

 

[FXAJ]

JPY stop moved to 84.40

 

[FXAJ]

and stopped on JPY!

 

[FXAJ]

Open Positions
None

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

USD/JPY
Buy @ 86.75, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.60, (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
Buy @ 1.5585, (downward trendline, 09/08+23/08), 70 pip stop *new*

 

[FXAJ]

Open Positions
None

Orders
EUR/USD
Buy @ 1.2715, (downward trendline, 09/08+19/08), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 86.70, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.50, (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
Buy @ 1.5560, (downward trendline, 09/08+23/08), 70 pip stop

 

[FXAJ]

EUR long from 1.2715
GBP long from 1.5560

 

[FXAJ]

Stopped on GBP @ 1.5519
Stopped on EUR @ 1.2686

 

[FXAJ]

Open Positions
None

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

USD/JPY
Buy @ 86.65, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.40, (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

 

[FXAJ]

Long USD/JPY from 85.40 open.

 

[FXAJ]

Just checked my accounts. All orders had expired so no JPY position.

 

[FXAJ]

Open Positions
None

Orders
EUR/USD
Sell @ 1.2675, (upward trendline, 24/08+27/08), 60 pip stop
Sell @ 1.2590, (upward trendline, 30/06+24/08), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 86.55, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop
Buy @ 85.50, (downward trendline, 21/06+28/07), 40 pip stop

GBP/USD
Buy @ 1.5850, (resistance line break), 100 pip stop
Sell @ 1.5750, (resistance line), 100 pip stop
Buy @ 1.5610, (downward trendline, 16/08+26/08), 70 pip stop
Sell @ 1.5370, (upward trendline, 21/07+24/08), 70 pip stop

 

[FXAJ]

USD/JPY open overnight. Half closed @ 1R and the rest stopped @ BE.

 

[FXAJ]

EUR short from 1.2675 open.

 

[FXAJ]

Open Positions
Short EUR/USD from 1.2675

Orders
EUR/USD
Sell @ 1.2615, (upward trendline, 30/06+24/08), 60 pip stop
Buy @ 1.2530, (support line), 75 pip stop

USD/JPY
Buy @ 86.35, (downward trendline, 05/05+03/06+21/06+27/07+13/08), 60 pip stop

GBP/USD
Sell @ 1.5750, (resistance line), 100 pip stop
Buy @ 1.5595, (downward trendline, 16/08+26/08), 70 pip stop
Sell @ 1.5385, (upward trendline, 21/07+24/08), 70 pip stop

 

[FXAJ]

EUR/USD stopped @ 1.2685

 

[FXAJ]

August 2010

I don't think anything else is going to trigger today so here is August trading results.

GBP and JPY were a little choppy this month.

I'll post up some analysis next week.

 

[FXAJ]

Out of interest I prepared a hypothetical June based on July and August trading style.

Normally I would let most of my trades run looking for bigger moves but as you can see trading more aggressively does give me more consistent results month on month. I'll guarantee you thought that it wont return as much over a longer period (2-3 years).

I may switch back to that style when I end this journal but as you can imagine a 6 month 30% drawdown wouldn't read well on a site like this!

 

[FXAJ]

GBP short from 1.5385 open

 

[FXAJ]

I'll be taking a break from this journal for a while.

TTFN

 

[FXAJ]

Thought I'd post September results.

I closed the two USD/JPY trades after the spike as intervention by a single nation is usually ineffective.

As I'm not posting here I also dropped the TP @ 1R and stuck with letting my trades run, which also means risk per trade @ 2%.

A couple of nice runs on the EUR and JPY. GBP still very choppy.