Fx futures Journal

Quote from Buy1Sell2:

covered at 121.82 long from there as well 14 pips profit

stop 121.56
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stopped myself out at 121.68 14 pip loss switching back to hourly chart
short 2 units at 121.68
stop 122.53
 
Quote from Buy1Sell2:

stopped myself out at 121.68 14 pip loss switching back to hourly chart
short 2 units at 121.68
stop 122.53
More...

covered at 121.65 6 pips profit

Sidelines now, while I work out which time frame I want to use. There looks to be a bounce on very short term charts in the offing.
 
Quote from Buy1Sell2:

covered at 121.65 6 pips profit

Sidelines now, while I work out which time frame I want to use. There looks to be a bounce on very short term charts in the offing.
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Well I was wrong initially on the bounce.
 
After further study, I will be using 60 minute charts predominantly for the near term future, while I sort out the best time frame. I normally trade off the daily and weekly charts, but as with the ES Journal, I want to contract the time frame down a bit. Now these positions I will not be evening up at the end of the day given that this market has movement during the evening session that warrants continued trading. Right now, I am seeing the POTENTIAL for a bullish divergence on hourly charts when this bar finishes. It's difficult to tell until the end of the bar. I will be trading on the end of bars. There has already been a bullish divergence of the class B kind that occurred on the 10 PM EST bar with regard to Price vs RSI and MACD Histogram. This only yielded a small pop so far. The potential divergence this time looks to be a class A. This may spell a reversal to the upside at least on hourlies.
 
Sorry, I couldn't post--there was some technical glitch with ET.
I am long GECM6 at 121.23 my stop is at 120.57. --on the bullish divergence and high close on the hourly bar. In addition, there was an RSI failure swing that occurred on the 8 PM EST bar last night.
 
Quote from Buy1Sell2:

Sorry, I couldn't post--there was some technical glitch with ET.
I am long GECM6 at 121.23 my stop is at 120.57. --on the bullish divergence and high close on the hourly bar. In addition, there was an RSI failure swing that occurred on the 8 PM EST bar last night.
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Stopping myself out here at 120.75 48 pip loss. Analysis was clearly wrong short term
 
long the GECM6 contract here at 120.35 --2 units

stop is at 119.51

The hourly chart shows signs again of reversal to the upside. There is a Bullish divergence with RSI drawn from the 2:20 EST time frame yesterday. Divergence as well with the MACD Histogram and also we are right around the 20 day MA on continuation charts. If there is no bounce today, I think that this would suggest lower prices when viewed within the context of the weekly and daily charts. Negative to this trade is the same as yesterday-- the trend is down--so we are playing for a reversal.
 
Quote from Buy1Sell2:

long the GECM6 contract here at 120.35 --2 units

stop is at 119.51

The hourly chart shows signs again of reversal to the upside. There is a Bullish divergence with RSI drawn from the 2:20 EST time frame yesterday. Divergence as well with the MACD Histogram and also we are right around the 20 day MA on continuation charts. If there is no bounce today, I think that this would suggest lower prices when viewed within the context of the weekly and daily charts. Negative to this trade is the same as yesterday-- the trend is down--so we are playing for a reversal.
More...

closed the 2 units at 120.81 for 92 pips profit. There may be more upside. I will drop down to a 15 minute chart here for a possible long reentry.
 
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