Trading journal

[rezo_s]

EURGBP :
False break upside of the triangle, and coming back into triangle. Now I think we are going to try break it downside with initial target of 6860 and 6760/80 as next level to target. 6885 - 6905 should provide a strong support, but once we break it, we should see nice and steady downside move.

 

[rezo_s]

EURJPY: We had a very poor trading on this pair last week, and I think we should break any direction soon. Any direction is possible here, but I am looking to sell at the moment targeting 125.50 as initial target. Very sensitive situation in terms of direction here, but still see possibility for 125.50.

 

[rezo_s]

AUDUSD:
Very bullish sentiment here, but I think we need to see some correction here. Nothing interesting at the moment for me.


USDCAD:
My short position @1.3330 (from last week Thursday) was closed at 1.3270 in the begining of the week to book 60 pips, so I am out of this trade, and now it seems like to be a sell once again. I will be looking at this pair for possibility to sell for 1.28 target.


That is it, will update during the week,


Rezo Shmertz

 

[rezo_s]

sold

[email protected]

eurgbp@6951

 

[rezo_s]

eurusd:

stop @1.1760
target 1.1445

eurgbp:

stop@7005

target 6760

 

[rezo_s]

stop moved to entry level on eur/$

 

[rezo_s]

Euro is currently positioned in little triangle which is in 1.16 - 1.17 range. Naturally the range is becoming thiner. We could observe this currently: in asian session we had +1.1715 high, then move down to 1.16 low --> move to 1.1690 high --> now move to 1.1605 low...If we break down, next level is definitly the 1.1530/50 area. This is going to be much more serious level than 1.16.
If we break upside, then we wait and see if we buy or resell.

Good Trading all!

 

[rezo_s]

Euro is rebounding a little due to eurjpy heavy buying, but I dont think it should be a problem. If short trade gets closed at entry level, I will consider reentering - who knows, maybe I get to enter at better price...maybe worse price. I will try to add the long position on usdchf as well.
Eurjpy isnt an option any more for now.

Well, closed at entry level while I was writing this post. Will wait to reenter euro/$.

Good Luck everyone

 

[rezo_s]

Seems like we are breaking that triangle resistance line upside. This may trigger 1.1720, maybe 1.1760. In my opinion, that is the point where we may see the break upside or confirmation that we are going down if it fails to resume upside move. (now euro is even higher : 1.1680).

 

[rezo_s]

Resold the eur$ @1.1650

added long usdchf @1.3322

 

[rezo_s]

EURUSD:

stop is lower than on previous entry: stop @1.1740

target is the same: 1.1445


USDCHF:

stop @1.3195

target 1.3590 (gap area)

 

[rezo_s]

Closed both trades:

eurusd @ breakeven,

usdchf @ 1.3333 (+11 pips, +0.42%)

waiting for rebound upside to reenter. The triangle (on euro) is not broken still, so I prefer exiting due to uncertanity.

 

[rezo_s]

This is where we are now. If we break upside, my stop @1.1740 may have been taken out. Break upside should trigger at least 1.1700/20, maybe even higher, so I prefered exiting. On the other hand we may break down ... but its better not to lose than ...

 

[rezo_s]

...usdchf @ 1.3333 (+11 pips, +0.42%)

my mistake, it's +0.33%, not 0.42%

 

[rezo_s]

Here's an updat on that triangle. Still inside .
I think exit will be late, confusing and not sertian. I may still take short on break downside, but maybe not. The reason is that technically I would prefer to see upside move to 1.17, maybe even 1.1760 - and faliure to break upside to short afterwards. But, market will make its move (I belive soon), and we cannot know which one exactly will it be

 

[rezo_s]

Talking about "late, confusing and not certian" EXIT out of this tiny triangle on 60 min charts. Looks like we are going to see some upside move after all. But who knows?

 

[rezo_s]

Ok, and off we go. Very good. This was the scenario I prefered (just as posted earlier). I think we are going to see 1.17, maybe even higher. If not - may short on market price. Will see. This still may be the retest for break upside, if we do, there is no talking about short position here.
Here is the final image of that pattern

 

[rezo_s]

On the bigger picture, the h&s pattern I mentioned on Sunday still looks like a pretty good possibility to be formed.
If we look closer at levels, the left shoulder top is around the 1.1760/70 area, so I think it is a good trade to sell if we get there with stop at 1.1820. Target is still 1.1450 area.

 

[GeckoTime]

What a tricky day today! Must say I made some money when I went long at 1.162 around midday. The selloff looked quite sharp to me and I expected a rebound plus the RSI confirmed that the market was oversold. I closed out at about 1.1645. All good till now. After it reached 1.167 I went short as I thought it was too much too fast. How wrong I was! The move to >1.168 made me panic and I closed out at a loss, wiping most of the days profits.

If I'd waited could have closed out at a small loss only, but I'm glad I got out. Looks like we might be breaking up I think, but overnight will tell if this happens or if we see a retracement. For now, I am staying out I must say though I am happier going long rather than short as I believe the $ will continue to weaken (but am always questioning that). going short makes me panic..

 

[rezo_s]

sold eurousd @1.1664