Wait till there's money in the corner and pick it up

[Rooster34]

Ok I'm going to be posting charts and pending orders using no indicators. just places on the chart where I think orders are stacked up waiting. And for now just on Euro/Dollar. The purpose of this journal is my education. Please feel free to comment on the trades/charts. I'll be posting the reason for each trade with the chart. I have a hectic schedule, so it will primarily be pending orders set up ahead of time. On the 4 hr charts. Again any educational comments are welcome.

 

[Rooster34]

2 charts. First one is what I'm looking at, second is the pending trade.

 

[Rooster34]

This is why I'm doing this.....Trying to build up a long term picture of trading support and resistance.

 

[Rooster34]

Gapped up, continued up. Hit support turned resistance on the nose and headed down. That trade would have gotten me my pips for the week and then some. However the line above it remaines valid, Trade still in place.

 

[Rooster34]

Ok so it hit the same resistance again and headed down. 2 nice trades I missed out on in as many days. not a problem though. trying to amass a bunch of trade scenarios and then start to identify which ones work generally and which ones do not generally. Stil trying to find an edge.

The zone in the bottom of the charts is an area I think will produce some result if the price starts turning down.

 

[Rooster34]

Bounces off S/R zones. the last 6 would have made nice trades. unfortunately I took none of them. Trade above current level is still in place. Looks like it's getting ready to break above current zone.

 

[Rooster34]

Trendline broken. Removed pending trade.