Newark18's trading journal

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newark18
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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 5:46 pm

AUDJPY short entry. Price respecting cone. Now once price starts to respect pennant, then I can double and trail SL above the price spike. Targeting ZL area below.

Image

Edit: Price spiked. I will try to get out after price returns from the breakout area. And then reassess.
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newark18
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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 7:01 pm

Price action on AUDJPY reminds me of this picture:

Image

And the reverse of the this picture (with the circles):

Image

I think the entry is still short but I am just a bit early. I guess we shall see.
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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 8:09 pm

USDCAD update: Price took out ZL, BO/BI top of cone, BO/BI top of pennant, and a BO down. Waiting for a retracement (back to congestion) and will short from there.

Image
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Re: Newark18's trading journal

Postby newark18 » Tue Apr 14, 2020 11:17 pm

Trying AUDJPY again.

Image
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Re: Newark18's trading journal

Postby newark18 » Wed Apr 15, 2020 2:15 pm

Update on AUDJPY. Big win. Entry was very accurate and was able to double. I was looking for a spot to double again but could not find any.

Image
Last edited by newark18 on Wed Apr 15, 2020 2:19 pm, edited 1 time in total.
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Re: Newark18's trading journal

Postby newark18 » Wed Apr 15, 2020 2:18 pm

AUDCAD showing a similar reversal pattern. Going to wait until I see price hit the top of the cone. I believe MO called this the upset. I am going to look into Jal's suggestion of using a trendline as entry.

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Re: Newark18's trading journal

Postby newark18 » Wed Apr 15, 2020 3:03 pm

Nice long setting up on AUDUSD. Going to wait until price comes back to lower cone for entry.

Image
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Re: Newark18's trading journal

Postby newark18 » Wed Apr 15, 2020 6:23 pm

Pretty proud of this entry. I saw the set up as it was happening and knew exactly where to place my limit order. Whether it will lead to a big down move is questionable but I will probably TP earlier and re-enter.

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Re: Newark18's trading journal

Postby newark18 » Wed Apr 15, 2020 6:26 pm

I am still hoping AUDUSD retraces to top of pennant for entry.

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Re: Newark18's trading journal

Postby newark18 » Wed Apr 15, 2020 6:35 pm

AUDJPY is also setting up long. Gonna wait for a better entry

Image
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