EUR/USD Beginner Level trading

Was short on eurusd at 273 level and exited at 164 with 11 pip profit

I took the same trade with my Trade Nation Account shorting at around 211 and exiting my short at around 161 with little profit, but i had to do so because price had hit a predefined low and was bound to reverse upwards. I am done for the dat with these two trades

Down about 7 pips on my 0.1 lot size long trade. I expected an upward movement during pre-franky especially after price broke the Asian high. I got stopped out the first time for 5 pips but i reentered and got stopped out again for 2 pips, totalling 7 pips. A really bad day, i am done for the day.

Good Morning Guys,

Today looks like it is going to be a very volatile day, we are in the pre-frankfurt session (pre-london session) and are already seeing alot of long wicks on the candles signalling volatility.

My strategy will be to wait for a break & retest of the Asian session in either the upward or downward direction, then wait for a 0 minute candle to form after the break before trading the breakout direction. So help me God!

I am going to exercise caution today and lower my lot size; Risk on approach to trading today !!! 😊

Break and retest spotted on 1-minute candle, this is the time to buy

Upward trend line broken, time to exit the buy

Today is another really slow London session. There was no momentum or follow through for 2 hours.

Break of 1200 opens up 1224 (which is also the open of the week, at London). I was long at 86, but I closed it at 98 high just before this break (that high got tested 5-6 times). Attached is the 10M sessions chart.

I am not happy because I waited 90 minutes for the break, only for it to break 2 minutes after my exit. I'm down for the week, because I've traded badly, so I'm trading small.

When there is a strong Monday like one we had, normally Tuesday & Wednesday reverse it to the full. Not always, but often it does.

It has closed the 1250 gap from the start of the week. But the low of the range which broke last week is around 1270.

For any bearish trades, maybe tomorrow on London, look for signs of weakness there. The intra weekly trend is still down, it is very likely that it goes back down.

I'm expecting some reaction at 1270s. If it just breaks through & closes the day above, it is null & void.

Even as intraday Franky trader, it is important to know the direction of least resistance. I'm done for the day. If it opens here tomorrow, I'll look for signs to trade it.

So, let's see where it closes today, there can be lot of activity on NY & Asian between today & open tomorrow.

Okay you mean this gap formed due to the weekend

Yes, also notice the hourly close on the attached chart. Closes are very important.

It did get very close to 1270 (1267 is the actual level, almost touch & go). Maybe it will test it again today or tomorrow, I don't know. But if it closes above 1178, it will act as resistance.

After price fell past the Asian high and attempted a retest of the level, I entered a short but was stopped out for a loss. On hindsight i should have set a wider stop loss since this morning has clearly been volatile.

I was able to stick to my strtegy and not get distracted to deviate which for me is a win. I will try same strategy again tomorrow.

Oh well, I am done for the day as traditionally i dont trade after 9 am, there will always be another trade - tomorrow. Bye

From the chart, I think you traded the end of the London hour. I don't trade that, I only look to enter at the start of Franky or the start of London.

I was looking to long the Franky, on the Bullish engulfing on last 15M of the pre. But I did not do it because there was an option barrier at 1195 & 1200, and my entry was going to be at 1191.

I try to pre-emptively positive for the break. After that move the next level was 1227/28, which I had indicated yesterday as well. Franky hour was trading right into it. I closed most of it for just +11, but I took the rest out at the Franky open.

Now to your entry, I want to make an observation, when you are selling at 1198, you are selling right into the break i.e. your Franky break, and 1200 options barrier.

Personally, I would not also sell the break below 90 also, because where I enter is important for me. I ideally want to get in at the start of the move, and not be chasing it.

The best thing is that you took the small loss very quickly. Nothing else matters more than discipline over any strategy.

See the attached daily chart. These are based on London closes, this is important.

Was long around 2052 with stop loss at BE, then got stopped out when price reversed downwards. There are some option orders stacked around the 2000 level which acted as a magnet and caused price to fall back to that level. I am done for the day, the trade was a break even

P&L for todays trade

Today I am long eurusd after spotting the 5M bullish engulfing pattern during pre-franky.

I had started adding to my winning trade but now i have to close my long trades at BE because i just discovered there are lots of option orders at 1.1195 to 1.1300 level so price is likely to range around there. I am done for the day

P&L, trades closed at BE

Today I am long at 3360 with stop at 3234, i am hoping price would break the asian high.