1034 - The most attractive

After having a 2nd look, the above is my favorite among the 3 mentioned in the previous post.
The main reason is because the candle is larger, compared to the surrounding candles.
The tail is very obvious.
However, it is a smaller boy, compared to the bullish pin on 19 Sep.
Therefore, I am still having 2nd thoughts.

1034 - choices of the day

Only one valley. 

Would be better if price was rejected more times in the past.

But nevertheless, the bear run seems to dry up there around 2 occasions.

 Similar to the previous.
Only 1 peak, would be better if more price were rejected before.
The pin qualifies, as the tail seems more than 3/4, barely.
The previous currency seems to be a better trade.
As the tail is longer, and also previous price rejection also had a longer pin.

The one is better than the previous 2, in terms of the zone being more obvious.
Price was rejected for around 4 occasions.
However, the pin is not as sexy as the first 1.
A bit short for my liking.
It will be best if it seems to pierce through the skies.

None of the 3 trades are very tempting to me...
But I will take more looks at them.

1055 - many bad results

Top is about to fail trade.
Bottom already closed out.
The string of bad results really all come at once.

On a positive note, I still have 1k.
Hope my trading journey has a light at the end of the tunnel.

1303 - wasted no time

Was quick to place the above trade, as it was rising.
Pretty obvious resistance at 96.5.
A nice pin pierced it, and was rejected strongly, forming a long tail and small head.

1270 - 2 pins

There are 2 pins, price rejected twice.
But the problem is 0.632 is not really a strong support zone.
The stronger support zone is 0.630.

1273 - AUD/GBP entered

A follow-up from the previous post, the below is the choice.

Thanks for me talking to myself on this blog.

2 Stop loss, 1 limit stop.

The limit stop is placed just before the resistance zone, and before the 0.xx00 decimal.

1290 - seems like many choices

Seems like many opportunities today with Daily charts.
But maybe one or two seems relevant to me.

 A nice pin.
But the support is quite recent, as in support does not show up on the left of the chart.
And the pin is a little over the support zone.

 Think this is my favorite.
Many times, the price bounced away from the support.
Nice obvious pin, strong rejection of the price going down more.
However, currently it is dipping. But good thing is that the stop loss is cheaper.

 Nice long pin.
However, like the first chart, the resistance zone is quite recent.
And the is only one peak, instead of the previous chart, which bounced off the zone 3 times, or 4.

This one should be my least favorite.

Although there is a pin, it is still a bit higher than the support zone.

The price is only tested when it enters into the zone.

It is a bit outside the zone, not reaching it yet.

1290 - managed to squeeze some money

Managed to squeeze some money from my previous trade.
Now the price went downwards after hitting the support zone.

1237 - perplexed

Not sure if I want to fully close, partially close, or do nothing.
There is a resistance zone, and a bearish pin is formed.
Rejection from the resistance.
The price also nearly hit one of my Limit Stops.

Latest:
I closed 1 lot.
That is the good thing about having more lots.
There is flexibility, and leave me with more compromise to make.
Rather than having only the sell or stay route.
I can take half.

I closed one, as the pin is quite long, considering the other candles around it.

1205 - busted

The trade mentioned in the previous post was busted.
GBP continued to surge.
Well, its just probabilities.

I am thinking about the below currency.
Support zone, a pin.
The body of the pin is quite close to the middle of the candle.
And it is also not very deep into the zone.
hmm...

1310 - Important Engulfing lesson

I lost the above trade (I am on sell), which I had yesterday.
I was calling it a tumor.
I was in my office, re-reading about Engulfing price action.
I realized that the above did not conform with one rule.

The closing price has to be close to the lowest price of the candle.

But the above engulfing, even though the body is big, the tail is quite long.

1300 - closed out, go again

I got closed out on my trade which I entered few hours ago.

But this time, the price action is even more obvious.

Another pin formed, a long one, signalling very stern rejection.

Not that it is a sure win, but Probability is HIGH.

Re-enter again (below).

1346 - Will Scotland leave uk?

Went long on the below trade. The bottom pic is a zoomed in of the price action.

It is a pin, signals a rejection at the support zone.

It is related to the voting of Scotland later.

Scotland will decide if they want to leave UK.

I think if Scotland votes to leave, the GBP will dip.

So the below will rise.

But one thing about the below is that it is cheap.

My Stop Loss is quite narrow.

Which is also an disadvantage.

A minor reaction will ruin the trade.

1359 - 2 losing trades, and a tumor

The above trade is getting close to 2 Stop Losses.
Initially, had a bit of thought whether to shift the Stop Loss higher.
Have the thought of 'what if it will just go up a bit and come back down'

Well, the correct way is to see it like a tumor.
Especially after you set the Stop Loss.
It is better to kill it early.
And start afresh.

1445 - decided on one

Decided to trade the above.
The one with one peak of resistance.
Gotta remember, its just a game of higher probability.

1447 - both potential daily charts

I haven't trade daily charts for a long time, ever since my run of making money.

Both below are potential trades. 

I haven't place a lot on any of them.

The problem is that their resistance zone is not very obvious.

The lower one, only has 1 peak.

The above one is a very vague zone.

But both are bearish engulfing.

Still considering...

1451 - why did I missed

The above seem like a better bet.
But I will not enter it, as it may be correlated to the trade I already entered.
Not sure why I missed it.
There are 2 signals, one engulfing, and also a bullish pin.

1470 - Minor currencies, lets see

Reject example: Did not enter. Engulfing candle is too short, not significant enough.

Accepted example : On the contrary, this engulfing is big enough for me. Quite significant, and also on a support line (left side of chart). Though I am one candle late, will see how it goes. And it is a minor currency, hope it also works as well as major one.

1472 - new ideas

Top table is my major currencies, and bottom are the minor ones.
I reduced the minor one, so all the above commissions are at most 3.5 pip.
This is to simplify things, and less tedious to look through all charts.

I also had an idea, to start looking at daily graphs too.
I remembered Nial Fuller commenting on both type of charts.
The more I trade, the more I can make use of the higher probability strategy.
Maybe in future, I will pick up another good book, and learn another type of strategy.
So I can apply more higher probability trades, and grow my money faster.

1472 - some organization

Just sort out the arrangement of my platform.
Make it more neat and tidy.
Also added some more minor currencies to track.
All the currencies I am following are 5 pips and below commission.

Major currencie

Minor currencies

1472 - timings (3 seven eleven)

Took MC from work today, due to flu.

The timings for new 4 hour candles in Singapore time :

• 3am
• 7am
• 11am

• 3pm
• 7pm
• 11pm

1472 - follow up from previous post

This is graph is the same as previous post, just with an additional candle.
So is it pin and also engulfing?
I am doubtful about it.
Cause engulfing is supposed to be a single long bullish candle testing the zone, followed by a long bearish candle out doing it.
The above consisted of too many candles at the peak.

Engulfing pattern, in my opinion, should be standing alone at the peak.

1472 - Not really a pin

There are some nice action around the resistance zone above.
But I am leaning more not to enter the trade.
The above looks like a pin.
But I remembered reading somewhere, definition of a pin should be at least 3/4 tail, in other words 1/4 body.

Zoom-in view below

1472 - The other lot won

And again, both lots limit stopped.
And the price still keep diving, but I am fine.
I am very happy about the trading now, and it seems too good to be true.
I will wait patiently for the story to slowly unfold.

Just keep going~

1439 - and again

Above is winning, closed out one lot, and the price is spiraling down at the moment. Might be able to close out the other lot.

I keep winning, not sure what impact will it have on my mentality.
But I have to remind myself, even though I am winning, if I cannot make it into a million dollars, it does not count for anything.

Just keep going on.

1333 - confidence is not very useful for Forex

I haven't lost for like 10 times already.
I just have to remind myself that each trade is just a high probability, and not a sure win.
The above is very nicely set up.
Long pin at resistance zone.
Price has been rejected repeatedly.

But then again, it is nothing more than high probability.

Above is a picture of my 2 limit stops.

Every time I am unsure where the resistance and support zones are, I just zone out the chart, and get a better idea.

1337 - not too sure

Now I will spend some time in morning on Forex.
Not too sure about the above, so I don't enter the trade.
The reason I don't enter is because the support zone is not too obvious.
Usually, support has more than 1 low point. This one has only like 1 before the 2 pins.

1337 - madness

Closed both my lots, as it seem to hit the last support zone (there was no more support zone below).

Crazy long bearish dip, not sure what happened. But I am currently monitoring AUD/USD now. See how price reacts in the resistance zone. Lucky I refrain from entering the trade 1 hour ago, after seeing an engulfing and also a pin.

I was hesitant to enter because it is not really an engulfing. Engulfing is when one candle spike up, and is countered by another spike down.

1150 - new trades

Was pondering the above. But did not go with it, as it is not really a pin. It is more like a doji. I might go with it if I did not enter the below trade. Somehow, these 2 currencies are correlated, as there is EUR.

Entered the above trade, even though it is not an engulfing, but a very close one. Before that, there was also a morning star (doji at the top, and a following big bearish candle). So there was 2 big bearish rejection at the resistance zone. Not sure if this will be the end of my winning streak.

Haha, I need losing lessons to learn. Past few days have been a very kind coincidence.

1150 - Good and lucky call

The price has went down. I was long yesterday and closed it. I closed due to the resistance on the left of the graph. So I did pretty well there.

I was short in the above trade yesterday, and closed it before the support zone at around 0.928. Now the price has shot up.