Newark18's trading journal

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newark18
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Re: Newark18's trading journal

Postby newark18 » Mon Apr 13, 2020 3:31 am

I've done a lot of reading (ie, MO's Ideas that I trade by). Lots of good information in there especially related to triangles/cones/pennants and accumulating. I tried blind mouse with the idea of accumulating but it never clicked. I would always pick the wrong blind mouse. I think I was just trying every blind mouse without being too choosy and without big picture perspective. After re-reading MO's thoughts/charts about cones, I think I will have better perspective going forward. I played around with it a lot this weekend and I can definitely see its potential. But now I have to put it all into practice.

So I will focus on daily extremes, cones and accumulating. Here are some charts with 15* lines and triangles:

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Re: Newark18's trading journal

Postby newark18 » Mon Apr 13, 2020 3:58 pm

Image

Watching this breakout of cone on EU
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Re: Newark18's trading journal

Postby newark18 » Mon Apr 13, 2020 5:04 pm

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EU triangle studies
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Re: Newark18's trading journal

Postby newark18 » Mon Apr 13, 2020 7:08 pm

I know that I should be targeting D2+ extremes and accumulating. But I am quite bored waiting for a set up. So I will test out a few theories while waiting.

I would love to see a breakout/break-in of the pennant. I would then long with SL at the low of that breakout.

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And then target the black line (ie, potential outer edge of cone)

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Re: Newark18's trading journal

Postby newark18 » Mon Apr 13, 2020 7:58 pm

GBPCAD short pattern. Would love a BO/BI of the top of the pennant which would confirm and give a short entry.

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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 1:17 am

Short GBPCAD. Going to try to accumulate here.

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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 1:23 am

Long USDCHF

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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 12:39 pm

Mistakes were made and an entry was missed.

First, I expected USDCHF to reverse from a daily trend and longed into a zeroline. I should have been looking at continuation of trend and using the ZL as entry. I could have used a BO/BI of a small triangle as a trigger.

Image

Second, I missed a EURUSD entry. I actually saw the entry very clearly but set my limit entry too low. Price spiked the pink cone, spiked/respected the black pennant, and I set a buy limit around the lower part of the pennant. I might have set it below thinking that it would spike below again.

Image

I also got stopped out of GBPCAD. But I am still trying to assess that one.
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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 12:46 pm

USDCAD is showing a possible entry. ZL was taken out but waiting for something more clear.

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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 12:55 pm

AUDJPY is showing a possible entry towards a ZL.

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