This was a total beauty, if you were ever going to take a breakout then this was it. We had a channel that had formed and the low was 121.00, I placed a couple of ines around this channel and this was the area to break in order to trade. The H1 was a CeC if 121.00 was broken also, and that break of 121.00 set up the breakout also. Just before we broke out there were some M5 CeC’s and finally just to set it up perfectly we had an M2 CeC right near the 21SMA. This trade was exited at the reversal candle CeC for obvious reasons Ihope

I will only be updating this blog once or twice per week as it is a bit time consuming and I have several projects on the go at this point.

Small EUR/JPY Buy this morning

I entered at the CeC on the rising 21SMA after the Triple Stoch had made it nack to, and was bouncing off of, its gray area. The H1 has alot of “pro long” action going on and I was expecting a better result than just 6 pips but you take what the market gives and move on. The exit is obviously at the CeC against me. Simple not so successful trade and needs nothing more said.

1. Took my 1st trade this morning off of the M5 with M8 looking right also. Market was not moving much at that time and even using the M5 CeC (Candle eats Candle) to enter, my SL (Stop Loss) was only 15pips. Triple stoch had just entered its gray zone and clearly we were in a hard downtrend since the markets opened for the week

1b. Exit was based on all time frames looking to be re-considering the move down

2. Shortly after I exited my first trade, we had a nice M2 pullback with CeC right off of a pivot line. Only the M5 was looking a bit dodgy but everything else looked great so no problem

2b. Usual SL rule exited me from this trade and we take note of an S1 pivot line rejection for the near future

3. Clean pullback on the M2 to the 21 followed by a CeC so I thought I would go for 1 more ride.

3b. Exited this one at S1 due to previous rejection and obvious stall when it got there

1. 1st trade of the day, a little riskier than usual for me, only a 2 bar pullback and didn’t quite touch the 8SMA. However it did look like a bounce off of L3 so I jumped in. Not many pips here, I moved my SL down when I saw that IB (Inside Bar)

1b. SL was moved down at this IB and price then turned so out for just a handful of pips here.

2. Missed out on the big drop for some reason but I let it go and decided to be patient and wait for the pullback. There was obvious power for the down so I knew a pullback would go somewhere. A nice M2 PB (Pin Bar) CeC (Candle eats Candle) combo off the 200SMA was exactly what I needed to see, also a CeC on the M3.

2b. My SL just survived the earlier IB but then this CeC against me was a sure time to take profit

3. We had already had 3 waves of movement down on this move so I needed more than just a CeC at the 21SMA to convince me. We had some sideways movement and MC’s (Master Candles) formed on the M2 and M3. I was not looking for any longs yet so I ignored the nudge to the upside and waited to break the MC to enter, it went more than 10 pips in my favor so SL went to +1 and that is all that I ended up with

4. Now we had Divergence and the next MC after the previous trade did not interest me, however, the next MC had price down exactly to where it had recently been and set us up for a double bottom. Divergence was definately confirmed now and a break of this MC to the upside followed a CeC.

4b. Usual style exit here, CeC the other way and at a Pivot Line

Not many pips this morning and not the easiest time of it but with a calm head and patience the market can nealry always be navigated.

OK, so I did not post any trades yesterday because I started the day with a loss and it was not even a real loss. It was a bonehead move on my part and it really got to me. I was however able to see myself being taken over by anger so I stepped away and did not trade again. I did check in during the second session but it was looking messy and I decided to not bother. I should have taken a screenshot of my loosing trade and posted it, I know, but I was all bent out of shape and wasn’t thinking straight.

Today was nice though and I have been enjoying 7GMT alot lately so here is a nice trade right on cue.

1. Price slowly moved down after breaking the MC (Master Candle) right before the gray zone started. The triple stoch was in its gray area and we had an army of red arrows from multiple CeC’s (Candle eats Candle) on the M5 aswell as a few on the M8. After the CeC on the M2 and M3 I was not convinced but then it started moving in chunks so I knew bigger players were joining in to this move. After a big jolt I was re-quoted and I accpted, to my dissapointment I found myself in near the pivot but I held on and that IB sealed my confidence in the trade

1b. Usual style of take profit for me here as the most recent red candles high was passed by 3 pips

2. Once again the triple stoch was in its gray area, we had a 2 bar pullback which is not my favorite but price did go just passed the 8SMA so I entered on the M2 M3 CeC combo

 2b. Same old exit for me here as we had a doji and shooting star combo which made me doubt any continuation

1. Not the easiest read here but you clearly see lower highs on all timeframes and the T’s open line being the line to break. We had recently had IB’s (Inside Bar) broken to the downside on M5 and M8, this was followed by a double IB break to the downside on the M2, then we had a CEC (candle eats candle) IB combo on the M3. I waited until we passed T’s open by 3 pips and then I entered

1b. I was exited from this trade with 50 pips because I was too fast to put my SL to +50 and I got clipped. However, price made it though the 3 pivots here but then suddenly got rejected and ate the big long red candle by more than 55% which would have been my usuall signal to exit

2. Nice clean 4 bar pullback followed by a CEC

2b. SL was to break even fast on this one since the triple stoch was already oversold and we were far away from the 21SMA on both the M5 and M8, then CEC the other way exited me with just a small profit

3. After divergence to the down move the triple stoch returned to the gray area and we had a small pullback to the 8SMA which was worth a shot, entry was the M3 CEC

3b. CEC the other way was once again the exit for just a small profit

Well, interesting story here. Woke up early since I am very much enjoying 07GMT lately. I had a power outage and my monster desktop can only run on the UPS I have for about 10 minutes. So, I shut down the desktop and plug in my router to the UPS so I at leats have internet, then I boot up the laptop, and due to the smaller screen size, have to trade with just M2 and M3. I remembered how much simpler it seems like this and advise newcomers to master those 2 timeframes first.

1.  Here we had slight divergence on the end of that down move, the triple stoch then passes through they gray zone and we have a 3-bar pullback on the M2 followed by a CEC (candle eats candle). It was right off my favorite view of the 3 SMA’s as they all split open like fingers. Very simple entry and exit here,I did not get the whole move because of my personal SL rule where I exit when we get a CEC the wrong way

2. I think I already summed this exit up above

1. My entry point was this cec, the triple stoch had passed through its gray zone without any signals for me. I waited for the pullback, once near the 21SMA I pulled the trigger as soon as the cec was confirmed on M2, There were 8 mins of sideways movement and I held the trade with my SL at the fib 38.2 pivot. M5 and M8 had pinbars and had made it back to their 8SMA. The earlier M3 cec was not valid as it had not made it back to the M3 8SMA as per the minimum requirements. Higher low is clear on the M8 and we were making M2 higher highs and lows also. The 200SMA on the M2 was a concern but there was too much going for this trade and as we see it also setup the breakout perfectly.

2. At this point right after that IB I moved my SL to +50 and let it go with a trailing 20. It turned and knocked me out with the +50.

*All of my trade posts will be using the ED3 setup only from now on

1. Could have entered here after the double top but I decided to wait

2. Entered here now that we had passed the 200SMA, SL I put a little further than the 2pips rule. I exited at the S1 pivot line for just over 100pips

I will be posting my e/j trades here once I get settled into the new year. I just managed to post a g/u trade in that category on the Monday before xmas but I have not traded since then. This is my final weekend of the holidays and I will kick off properly this coming Monday or Tuesday, it really depends how the market looks to me Monday morning.