Fx futures Journal

The reason that I need to skip trades that are counter to the predominant trend is that I have the desirable habit of trying to let a trade run to get a big gain. Typically, the trades against the daily trend do not have legs (sometimes do of course) and I end up overstaying. I am much more likely to get a good run if I am patient and wait for the right signal.
 
Attached is a 30 minute chart of the euro fx with upside flagging action. The 240 is basing out as well. I may be passing up a gold mine on the long side, but I am on the sidelines looking for short signals. If the daily trend turns up, then I'll look for longs. This is the correct way to trade--at least for my style which includes staying in trades.
 

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Until this line is broken or a bullish reversal signal, I would favor selling any renewed weakness. This is a 30 minute chart showing the 30 minute trend to be down. Fresh shorts could be initiated on good short signals on the 10 or the 30. Both should be watched.
 

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There is very clear bear flag action on the weekly EC chart. The only question is when. I would imagine there could be some upward movement prior to a break of the bear flag. It is my view that the Euro FX will head down in a trend reversal fairly soon. I will be paying close attention to the daily charts for ths initial signs.
 
Quote from optionpro007:

b1s2, could you share with us your rules of engagement for the JPY for this period ?

Thanks. :)
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The Yen remains weak on the weekly chart. It should be played from the short side until trend reverses.
 
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