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Thread: chiko's - Trading journal

  1. #4761 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Good morning y dearest friends and also forum members, today I will start to share my trading journey using my real account, I am using only 4$ for my capital because I would like to know how far my trading knowledge and my trading skill is because I feel that by using the bonus forum account I always trade with less responsibility and often not using good money management, especially when I made a wrong entry. So by using this small capital in a real account I do hope that I can improve myself.


    USD-JPY MAJOR TIME FRAME ANALYSIS


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    At the daily time frame, we can see that the USD-JPY pair at this moment is still in a resistant area, and based on the candlestick pattern analysis the bearish power is still really dominant so based on this condition in the daily time frame I believe that selling USD-JPY would be a good position to take because clearly, the bullish power still unable to break the resistant area on 114.400 price level.
    Also in the weekly time frame, the trend with the weekly time frame is still showing that the USD-JPY pair is in sideway condition and at this moment USD-JPY is still in the resistant area so opening sell position would be less risky. Seeing the weekly time frame sideways trend I assume that there is a good opportunity that the USD-JPY pair would be heading for 113.300 price level.


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    TRADING POSITION UPDATE


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    At this moment in the H4 time frame, the USD-JPY currency pair is still showing that bullish power is still quite dominant, that is why I am using a pending order at the moment because I assume there would be a bullish momentum and opening an instant order would be too risky because in the H4 time frame we still not see any bearish bias based on the candlestick pattern.
    So based on this condition and also analysis from the major and also minor time frame trend, I would stick with my trading plan and use a sell limit at 114.332 price level, while the stop loss is on 114.700. But if the bullish trend is not able to reach my pending order I also consider opening an instant execution order as long as the H4 time frame candlestick shows a bearish candlestick pattern.

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  2. #4762 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    TRADING POSITION UPDATE


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    hello friend, yesterday I am opening a sell order with USD-JPY in my real account. Unfortunately, the USD-JPy price went up and as the result my sell order hits the stop loss level, so this account at this moment is already suffering some losses.

    Yesterday I still consider that the daily time frame is still in bearish trend domination, unfortunately, since the opening of the market USD-JPY trend is still in bullish trend domination, as we can see from the H4 time frame candlestick pattern which shows that bullish trend is still really dominant and there is no bearish retracement which leads to a strong bullish momentum. so clearly yesterday I made a wrong analysis and luckily I set a stop loss level that is not too big so I am still able to trade with my account and avoid a total loss.


    GOLD DAILY ANALYSIS


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    Gold at the daily time frame shows that the bearish trend is still really dominant and we can see from the candlestick pattern that the bearish power is still really powerful and I assume that the bearish trend would still continue its domination for today's market trend. that is why based on this condition in the gold market I would try to wait for some selling opportunity with gold because by doing so I would be able to trade with the trend. but the fact that gold is still on the resistance become support area makes me think that selling gold right away would be too risky and we better wait for a further signal whether the bearish trend would clearly break the support area on 1805.50 price level or the price bounce back up.


    MINOR TIME FRAME ANALYSIS AND TRADING PLAN


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    At the H4 time frame, we can see that there is a bullish signal which indicates that the bearish power still facing difficulties in breaking the support area, so as the result of this condition I still assume that there might be some bullish retracement with gold and gold price would try and retest the closest resistant area before the price comes back down and the bearish trend starts to dominates the trend once again.
    So with this condition, I would wait for selling omentum at the resistant area therefore in the gold market today I would set a sell limit order on the resistant area.


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  4. #4763 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    Good morning my dear friend and forum members, today I see that USD-CAD pair on the daily time frame there is a bearish signal on the resistant area. I do believe that this could be a good momentum to follow because if we start selling on the resistance for sure the risk will be decreased and we can really maximize the amount of profit we can earn.


    USD-CAD MAJOR TIME FRAME ANALYSIS


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    As we can see that on the daily time frame we can see on the resistant area at 1.27500 price level, there is a clear and also valid rejection candlestick pattern. So based on this signal pattern I assume that soon there will be some trend reversal with the USD-CAD pair. Because as we can see at the daily time frame on the resistance the bearish candlestick pattern really shows that the rejection on the resistance is valid and also based on the candlestick pattern I can say that the bearish power is quite dominant. therefore with USD-CAD pair would definitely take a sell order.


    USD-CAD MINOR TIME FRAME ANALYSIS


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    At the H4 time frame, the USD-CAD pair is still showing a bullish condition so based on the daily trend that shows a bearish bias, so I assume that the bullish trend at the H4 is only a short term trend so I consider that this bullish momentum is only a bullish retracement only before the major trend start dominating the market and soon the bearish would start dominating the trend.
    The best trading plan for the USD-CAD pair is waiting at the resistant area and when the H4 time frame's candlestick pattern shows a bearish pattern I think that would be an ideal time to start opening a sell order.


    TRADING PLAN AND POSITION UPDATE


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    At this moment in the H1 time frame, there is a bearish candlestick pattern which I believe is an early indication for the bearish trend continuation so I think that selling USD-CAD would be a good position to take at this moment with the stop loss on 1.27200 and the take profit area on 1.26050.
    Hopefully that my sell position in USD-CAD would bring me a good amount of profits today.

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  5. #4764 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    USD-CHF DAILY TIME FRAME ANALYSIS


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    Hi friends today in the USD-CHF pair we can see that the USD-CHF price is on resistant area, and at the daily time frame we can see that the candlestick pattern is showing a long upper shadow pattern, I believe that it is a shooting star pattern which indicates that the bullish power starts losing their dominating power, so based on this condition I think we need to try to seek for some bearish momentum because it will be less risky to open a sell order on the resistant area.
    If we are opening a sell order at the resistant area for sure we can minimize the use of the stop loss and with USD-CHF pair at this momentum, we can set the stop loss above the resistant area which is on 0.93400 price level, so we can set the stop loss on 0.93850 price level.


    H4 TIME FRAME ANALYSIS


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    At the H4 time frame, there is a clear signal that some bearish power started dominating the market trend and I think that selling would be a good position to take with the USD-CHF pair. but we need to pay close attention to the key level on 0.93200 price level because if at this key level the price is unable to break down, I assume the bullish would still be trying to bring USD-CHF price back up. but if the price is able to break the key level, then for sure the bearish will create a strong trend.


    TRADING PLAN


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    Based on the analysis at the daily and also H4 time frame I make a trading plan which is to create 2 trading positions with USD-CHF pair and both are a sell order with pending order system and not an instant execution. because at this moment I still see that the bearish power is still relatively weak and there is a big possibility that USC-CHF price would first retest the resistant area before continuing the bearish trend, that is why I am making a sell limit order at 0.93530 price level with the stop loss area at 0.93800 and sell stop at 0.93100 price level with the stop loss at 0.93500. Both pending orders would have the same take profit area that is on 0.93350 price level.

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  7. #4765 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    TRADING POSITION UPDATE IN USD-CHF


    Name: uchf.jpg Views: 95 Size: 81.9 KB


    My last position in USD-CHF is a sell order which I made yesterday and at this moment this position is already in a positive position with the most pips amount is 90+ pips and I am still waiting for these positions to reach the target profit area, I am still holding these position because based on the market condition at the USD-CHF market at this moment is still looking really bearish and based on the candlestick pattern, we can see that the bearish trend is still really dominant.
    But if the target area is still unable to reach the market today, I will close these positions I have before the market closed today, so hopefully that these positions will reach the target and I can really maximize my profit.


    GBP-USD ANALYSIS


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    At the H4 time frame at this moment, we can see that the GBP-USD pair is already showing bullish momentum, so I assume that we can take a short-term position with GBP-USD.at least until the market close today, I still see that in the GBP-USD there is a big opportunity that the trend would still be a bullish trend because at this moment GBP-USD pair is on strong support area and based on this condition I assume that there will be at least a bullish retracement with the GBP-USD pair as the result of the price condition that clearly shows an oversold condition. I still think that we can buy GBP-USD pair for a short-term trend and set the target profit area at the 1.34000 price level because the H4 time frame candlestick pattern is still showing that the bullish trend is still quite dominant so I assume that the minor trend would be relatively strong bullish.


    GBP-USD WEEKLY TIME FRAME ANALYSIS AND TRADING PLAN FOR LONG TERM TARGET


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    The weekly time frame chart at this moment in GBP-USD and also the monthly time frame is still showing bearish trend domination, so I still assume that the GBP-USD par would still be able to continue the bearish trend domination. However, we need to wait for confirmation whether the bearish trend would be able to break the support area on the 1.33400 price level or not, because this support area plays a big role as a key level area. and if the bearish trend is able to break the key level I assume that the bearish would still dominate the market trend, but if the trend failed then we will see some trend reversal.

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  9. #4766 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    TRADE POSITION UPDATE WITH USD-CHF PAIR


    Name: uchf.jpg Views: 89 Size: 88.8 KB


    Hello forum members and friends, last time I still have the sell position with the USD-CHF pair. I was planning to keep those sell orders because the last candlestick pattern from the Friday market showed strong bearish trend domination and I am still expecting some bearish trend in today's market. However at this moment, the H4 time frame shows a bullish momentum, so I made a decision in closing those sell positions because I think it will be wise and much profitable for me just to save my profits which I already earned and if there is any other bearish signal in USD-CHF market especially with the H4 time frame I can just re-enter another sell position because from what I see at the daily and also the major time frame trend USD-CHF pair is still in bearish domination, but the fact that the H4 time frame shows a bullish candlestick might be because there will be some bullish retracement with USD-CHF pair. so better to wait for another selling momentum and save the profits I earned from the previous trade.


    EUR-USD MAJOR TIME FRAME ANALYSIS


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    The EUR-USD pair at the weekly and also daily time frame shows that at this moment there is a strong bullish momentum, I believe that this bullish momentum is a valid signal because at this moment The EUR-USD pair price is in support area so this condition would make a buy position less risky because we can minimize the use of stop loss. Therefore with the EUR-USD pair today I would try to open a buy position because from my point of view this buy position has the most probability of gaining profits.


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    TRADING PLAN


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    As we can see that at the daily time frame of the bullish candlestick pattern, we can see that there is a morning star pattern formed on the support area, so this would create a strong bullish momentum that we can follow. so based on this analysis in EUR-USD pair I would enter a buy position and by seeing the H4 time frame candlestick pattern which is still in a bearish condition I also set a pending order, so hopefully my trading plan in EUR-USD would be able to create some profits for me today, and always remember my friends to always trade with proper money management.

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  10. #4767 You can automatically minimize the read posts in your account in the 'Forum Settings'
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    UPDATE ON MY LAST BUY POSITION WITH EUR-USD PAIR


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    Yesterday I made a buy order with EUR-USD and at this moment of my order is still in +15 pips while the buy limit was not touched. so with EUR-USD currently I only have one open position, With the daily time frame candlestick that still shows strong bullish momentum, I think it will be best if I keep this buy order open until the bullish trend reaches the target price that is on 1.14000, at this moment on the H 4time frame EUR-USD still showing that bullish trend keeps on trying to bring EUR-USD to a much higher price but seeing the candlestick pattern we can say that the bullish trend power is not really strong and dominant so we need to be really patient with this slow movement with EUR-USD, but I am quite convinced that based on the major time frame analysis that EUR-USD pair would soon make a strong bullish movement and reach the target price on 1.14000.


    EUR-JPY MAJOR TIME FRAME TREND ANALYSIS


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    At the daily time frame, the EUR-JPY pair is clearly still trying to break the support area because, on the major time frame, the EUR-JPY pair still look quite bearish. However, the fact that we can see at the daily time frame where the EUR-JPY pair keep on failing when trying to break the support area on the 128.030 price level makes me think that EUR-JPY would create some bullish movement.
    Seeing that there has been 4 failed attempts in breaking the support area on the 128.030 price level would definitely affect the market movement and the price of the EUR-JPY pair that is still in support area makes me feel that it would still be relatively safe to open a buy order because the stop loss area can be minimized.


    H4 TIME FRAME ANALYSIS AND TRADING PLAN


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    At the H4 and also H1 time frame EUR-JPY is still on bullish trend domination but this bullish trend still having difficulties in breaking the resistant area on 128.500 price level and that is why I am not putting any instant execution with EUR-JPY pair because there might be some bearish retracement with H1 time frame that is why I made a buy limit order instead of instant execution and the stop loss area is still as I planned that is at 128.000 price level.
    Hopefully EUR-JPY would make some bullish momentum as I planned and the rejection on support area on 128.030 would remain a good trading signal to follow, just remember my friend s that we need to keep on using proper money management with our trade.

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    UPDATE ON TRADING POSITION WITH EUR-USD


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    Yesterday there was a moment that was quite shocking for me when the H4 time frame candlestick formed a bearish candlestick that moved quite fast and touched the opening price of my position in EUR-USD fortunately, the bullish trend still quite strong and it was able to bring back the market price to a higher level, so at this moment we can see that in H4 time frame there is a candlestick with a long lower shadow and for me, it is quite a good news because it indicates that bullish trend is still relatively strong and dominant.
    At this moment in the daily time frame, we can see that the candlestick from yesterday market had formed a bullish candlestick and it is able to break the opening price of the previous candlestick which I think is a valid indication that the bullish trend would still dominate the market trend and the bullish trend would still continue, that is why I am still holding my open position in EUR-USD pair. Hopefully that today the bullish trend would be able to bring EUR-USD to my targeted profit for the EUR-USD pair.


    TODAY'S OPEN POSITION WITH GBP-USD PAIR


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    The weekly time frame in GBP-USD pair shows that GBP-USD pair at this moment is at resistant become support area and we still see that at the daily time frame the bearish trend still unable to break the area and I consider that this indicates a bullish trend is still trying to take over the market trend so I assume that the best position to take with GBP-USD pair is buying position because clearly the price is still on support area and there is a clear signal based on the candlestick pattern in the daily time frame that the price rejected at support area so that makes buying will be relatively less risky even though the major trend is still showing bearish trend domination, but as long as the support area is still holding up I think buying would be the best position to take.


    H4 TIME FRAME ANALYSIS AND TRADING PLAN


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    At the H4 time frame, we can see that there is a candlestick pattern which indicate the bullish momentum is already dominating the market trend, and based on this condition I am making a buy position with GBP-USD pair and setting the target profits at 120 pips which is on 1.34240 price level and the stop loss area at 63 pip that is on 1.3234 price level.and always remember my dearest friend that we need to keep on trading with proper money management so that we can minimize our risk in trading and never let your emotion controls your trade.

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    Good morning my dearest friends and also forum members, how are you guys doing, Today most of the major pairs are based on my trading strategy, and also the trading system is not too ideal to open position because most of the pair is already reached the overbought and also oversold condition but the trend is still showing that the dominating trend is still relatively strong so I need to be very careful in opening a trade today. I do aware that if I am trying to open a position today it will be against the dominating trend in the major time frame so I need to really pick the pair with the most promising profit with the best trading setup to trade with.


    GBP-JPY DAILY TIME FRAME ANALYSIS


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    At the daily time frame, GBP-JPY clearly seems that this pair is still in the support area on 149.470 and there is a possibility that this support is going to bring some bullish trend movement because as we see at the daily time frame this resistant area on 149.470 price level is still not yet been broken by the bearish trend and today is the fourth retest and seems to me that the retest will be failed once again, that is why with GBP-JPY pair I am having a buy order because the price of GBP-JPY that is ideally on the support area and the minor time frame shows some bullish signal already makes me feel that buying GBP-JPY would be the best position to take.


    GBP-JPY MINOR TIME FRAME ANALYSIS


    Name: gj.jpg Views: 22 Size: 82.9 KB


    At this moment in the H4 time frame, the GBP-JPY pair is already showing that bullish trend is starting to dominate the trend, at this moment we can see that on the H4 time frame there is a bullish signal momentum that is a morning star pattern which is a valid indication of bullish trend is already taking over the market trend. I think that buying GBP-JPY is really an ideal position to take at this moment even though buying is still considered a counter-trend with the major trend. However, the bullish signal momentum in the H4 time frame is something we cannot ignore.
    But opening buy order that still goes against the major trend is also risky that is why I am using a tight stop-loss which is only around 40 pips with the target of profits at 110 pips. Always remember my friend that we need to always maintain our risk and reward in our trade and never took a huge risk in your trade.


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