UsdJpy Divergent head and shoulders 1hr
GbpJpy Divergent Head and shoulders 4hrs
AudJpy Divergent Head and shoulders 4hrs
AudUsd Head and shoulders 1hr
EurAud Divergent Head and shoulders 1D
Non Prio
EurNzd Head and shoulders 4hrs
GbpAud Head and shoulders 4hrs
AudNzd Head and shoulders 4hrs
UsdJpy
Timeframe = 1hrs
Divergent = Yes
.618 rule = Still on neckline
Reject =
Retest =
15min =
MACD support =
Stop Lost > 35 pips =
GbpJpy
Timeframe = 4hrs
Divergent = Yes
.618 rule = Still on neckline
Reject =
Retest =
15min =
MACD support =
Stop Lost > 35 pips =
AudJpy
Timeframe = 4hrs
Divergent = Yes
.618 rule = Still above neckline
Reject =
Retest =
15min =
MACD support =
Stop Lost > 35 pips =
AudUsd
Timeframe = 1hr
Divergent = No
.618 rule = Yes
Reject = yes
Retest = yes
15min = yes
MACD support = yes
Stop lost = 21 pips
At 10:45 Am July 2 I took the trade Done at 11:30 pm hiting $65 and $20 for other account Did not exit the 2nd trade for chance to swing trade target = $100 for 30 cents per pip
EurAud
Timeframe = 1day
Divergent = yes
.618 rule = almost on the mark
Reject =
Retest =
15min =
MACD support =
Stop Lost > 35 pips =
This is one day so reject and retest is required in 1 day time frame
I strongly believe by know your identity will lead you to consistency. that is why Learning is the key essential in trading. Better know who you are and what you are as a trader. you can try other strategy for you to see if it fits your personality but you can never copy it even though it bring a lot of money to them.
UsdJpy 1hr Divergent head and shoulders
NzdJpy 4h Head and shoulders
EurCad 1hr Divergent head and shoulders
AudCad 4hrs and 1hr Divergent head and shoulders
EurJpy 1hr Divergent head and shoulders
UsdJpy
Forming the right shoulder
Rejection = Done
Re test = Done
15 min crossover = Done
Macd confrim = Done
Upon retest crossover of 15min was in progress which given me favorable 24pips stoplost
pepperstone = .05 target goal $44
Capital index = .07 targe goal $36
Capital index = .04 target goal $33
Total target $113 +15
Total risk $53 + 5
Ratio 1:1
Upon first pull back strategy which has the pattern of flag on 5 min i create new entry pepperstone = .03 target goal is $15 55pips stop lost on the tip of the 5min flag pattern
HUMAN ERROR
instead sell i click buy lost 0.22 cents
entry on the flag channel is not on the exact position im 5 pips behind the mark advance set up is recomended
Profit 1st trade at .07 target goal reach $36 at 10:33 pm
NzdJpy
Forming the right shoulder
Rejection = DOne
Re test = Done
15 min crossover =
Macd confrim =
5:16 new Rejection form but close before the first rejection
EurCad
potential advance trading
head to neckline at 4:58 pm
Forming the right shoulder
Rejection =
Re test =
15 min crossover =
Macd confrim =
Structure not form right shoulder is higher than head. remove from watch list
AudCad
waiting to reach 618 on 1hr to form right shoulder
Forming the right shoulder
Rejection =
Re test =
15 min crossover =
Macd confrim =
EurJPy
Forming the right shoulder
Rejection =
Re test =
15 min crossover =
Macd confrim =
Observation:
to trade aginst the trend will consume lot of time to reach the goal market movement is slow from your entry.
But the Position of the crossover candle is 66 pips which double the size allowable for Stop lost.
Solution use VIX FIX Buttom on 15 min
OBSERVATION Doubted the system again because i violated number of pips allowed in stop lost.
2nd time more than 30 pips stop lost I began to doubt.
16hrs now still my trade did not push through consilidation on 4hrs
WIN trade but goal not hit Stop lost for safety trading was hit only geting $16 total in 2 account
Rejection done
Retest done
15min Moving average cross over done
MACD confirmation done
Stop lost on favorable less 30pips away
As of 6-13 Asia time retest was form which created new oportunity if this will be followed
at 5:04 pm of 6-13 philippine time my running profit is now negative 50 cents since the retest is about where i start my trade. What is testing right now is myfaith to trust the system I created but since i consider this a retest for this time i move my stop lost on structure based which is from 30 pips to 20 pips.
OBSERVATION
Along the way if Rejection come prepare for retest because of this a 30 pips take profit must observe to have one step forward to the market. I did not do this on this trade since my brocker doesnt allow me to trade anymore Next time i will be trading .05 so that i can observe 30 pips take profit. creating 2 trades which boost the percentage of winning.
15 min cross over = breaking the retest in 1hr
ENHANSMENT
USDJPY
head to neckline
15 min cross over did not break the 1 hr retest the market went to opposit direction which will be a potential Lost trade. Start of the HEAD look to the left for Support and Ressistance.
1hr Rejection , 1hr Retest, 15min crossover and MACD confirmation is not enought to start to trade from Head to neckline
Currently waiting for the 4 currency
Aud Jpy = Divergent head and shoulders 4hrs
Aud Usd = Divergent head and shoulders 4hrs
Usd Jpy = Head and shoulders 1hr
Gbp Nzd = Divergent head and shoulders 4hrs
Changes on the system
.618 on AudUsd might not follow for the reason it dive down so deep that nearly destroy the head and shoulders pattern. but still I strictly follow rejection retest and 15min crossover back up by MACD.
New things
1. AudJpy = is under 618 which im going to consider for the same reason on AudUsd
Since im waiting on right shoulder I dont have any data to encode but to follow the enhanced version of entry point guide.
USDJPY
1 hr rejection done
1 hr retest done
15 min crossover done
MACD confirmation = NOT CONFIRM - did not take the trade
traded at exactly the crossover was seen which make it advance. the reason for it is I might not get enough pips which will make my trade size low. since stop lost is more than 30 pips I lowered my trade size to .4 lot. which risking 72 pips = $19.62 and the take profit is 76 pips = $22 dollars. ratio is almost 1:1
LOST TRADE - points to remember is the stop lost must not more than 30 pips and the structure must be clear on direction of the shoulders. however my analysis was still correct due to 76pips i was not able to set my stop lost to favorable distance where spread was not considerd and if followed the 30 pips rule out i have already profited.
Solution 1. 2nd trade 30 pip rule 1:1 do not trade above 35 pips stop lost
Took the trade at 12:00 AM June 9 to AudJpy pair going up.
NOTE follow the rules in the formation of shoulder which i traded only 50 cents per pip since i still dont have proven system from neckline to shoulder.
the stop lost is still on 30 pips away which i maintain and make sure that it has to be exact on structure
Since this was not done on friday at monday i just took $10 dollars and stop the trade. for the reason I might miss a better oportunity on monday. however still if i have follow the plan it still hit my take profit. meaning system used on right shoulders can be used on neckline to right shoulders.
EurCad Divergent Head and shoulders 4hrs
AudJpy Divergent Head and shoulders 4hrs
EurChf Head and Shoulders 4hrs
EurNad Divergent head and shoulders 4hrs
GbpJpy Cypher Pattern 4hrs
GbpNzd Divergent Head and shoulders 4hrs
AudCad Head and shoulders 1hr
AudUsd Divergent head and shoulders 1 hr
The reason I choose those trade Plan since all of them are my highest profit based on pattern trading and I have develop the enhanced version of entry point design for right shoulder entry. which for this past 2 weeks the result was very satisfying
My Priority Currency Pair
AudUsd
Reason
it has the potential of advanced trading
1hr time frame and based on MACD indicator its a divergent (signiture trade that never fail me)
AudJpy AudCad
Reason
1hr time frame where i can test my enhanced version of entry point on the head to neckline
Divergent head and shoulders
Trade I took
AudUsd
Reason
I want to test my enhanced version of entry point in the head going to the neckline
I want to find certain flaws
I want to develop certain system from head to neck line
I Want to profit in the Divergent signal that starts from head since most cases head and shoulders are not form
Factors that contribute in placing a specific trade
1hr rejection done
1hr retest rejection done
proceed to 15min for entry
Was not able to trade on the crossover for the reason the Macd doesnt support it
Wher did i put my entry point?
proceed on 5 min time frame used the market checker and identify support ressistance . my entry point is right below the support and ressitance with is sellers area . (pull back strategy 5min)
tools i used support and ressitance on 5 min chart i use 5 min chart since the crossover in 15min chart is less than 30 pips.
Stop Lost
for the stop lost is in the tip of the head then for the take profit it is on the structure level in 1hr time frame which is near neck line. I did not put take profit at exact neckline for the reason the head and shoulders my perform slanting neck line.
Since this is a test drive trading and my enhanced version law was not followed i traded 50 cents per pip plus i plan to move my stop lost once the market break the 3 fractals below in 15 min time frame.
Was not able to trade on
Audjpy and AudCad head to neckline
The law on rejection and retest in 1hr given but as i proceed on 15min the cross over was already in place so i need to wait for another down crossover of MA. if ever no crossover then I will not trade from head to neck line. This is the law i follow on enhance version of entry point right shouldet to save me from possible trap on consilidation that will lead to the opposite direction ang high potential of lost trade.
TRADE RESULT
AudUsd
Force to move stop lost to almost break even, earning only 35 cents 7 pips for the reason a rejection was formed in 4hrs. following from experience higher time frame rejection is much reliable. 'Hopefully Im right this one of the reason my original trade plan is altered for the reason of new contributing factors that affect it. like example in the pic"
ObservationAfter the rejection and retest cross over of 15min time frame and MACD doesnt support it there will be a a consilidation and possible bounce on opposite direction.
To know your identity is to identify your good characters. In trading this good characters must be supported by good habbits that you consistently discipline yourself.
Couple of weeks ago i was anouncing for my book however i still have 1 final chapter to make which is the How to identify yourself as a trader. In my early stage of learning forex a question pops out to my mind. a question that will explain everything and make learning forex easier. and that question is Who I am????
As i have continually ask this my self there wher a lot of answers that i wrote but unfortunately most of them are negative - and kinda negative. Im not gonna list in details but what im going to show you is a guide to identify yourself as a trader.
Guide (A) to know your identity
List everything you knew about your good character
in every good character you wrote down write a detail explanation about what you did consistently to have that good character.
List everything you knew about your bad character
in every bad character you wrote write a detail explanation about what you did consistently to have that bad character
Know your Calling in Life - this is kinda hard but it will be advantage if you knew your calling. In case you dont then find a deeper reason why you want to be a trader. when i say deeper it has to be the last rope your holding when everything is falling down. cause believe me outside force and situation will make trading hard that most of the trader will give up.
As a Filipino you have to know the strength of pinoy. So for this part Im going ta ask you to do some research about
History of Filipino (who they are before sapaniards came)
Why Filipino is good in cover music video???
If you are to be with foregners in the room do you tell yourself that they have better idea or explanation than yourself? if yes explain in details then search deeper about the strength of pinoy. If No then explain the contributing factors of your answer.
Find out about Filipino Leaders (Pauliticians)
watch bonifacio movie
watch Rizal movie
watch Gen Luna movie
search deeper the good side of Ferdinand Marcos
Know the crownies of Ferdinand Marcos and their role today
The above Guide A will clearly tell your self who you are as a person and who you are in your community. if you miss this guide then there will be great chances for you to give up trading or to copy what others is doing which you believe it will bring profit to your trade.
The main purpose of Guide A is to boost your confidence and to tell yourself that you are built for something great. It doesent mean on trading but something big and great.
Guide (B)
1. you are oblige to read books. any financial enhancement book is good. For a start I need you to write a book report on
1. my maid invest in stock market - by Bo Sanchess Write something about compounding and its application to yourself
2. Poor dad Rich Dad - by Robert Kiyosaki
write something about mindset because that is your identity
3. CashFlow Quadrant - by Robert Kiyosaki
Write something about Quadrant and cashflow plus the application
Reading books is one of you good characters because it bring knowledge.
2. By know if you are trading in demo. You must have a journal note book. No journal no trading policy.
On your journal make sure you will have this content
Time and date you created a trade plan - (analysis of the market)
In trade Plan what currency and what time frame you took the trade.
The tools you used (5 basic tools)
Modification of tools and reason for modifying it.
What are the contributing factor why you took the trade.
What are the contributing factor why you identify the direction of that pair
Win or Loose write the details how many pips? did your take profit was hit. do you follow Money Management.
Win trades what are the factors that you can improve your trade.
Loose trade time and date currency pair, tools and reason for taking this trade. How can this be the ringer on your head not to do it again.
3. Find a coach for them to check your perfomance.
4. Find a group community that share their downfall and success in trading.
Guide B is more on characters that you need to adopt as your identity, this will protect you on inconsistence.
One factor to determine what kind of trader you are is by having a journal on all your trades. this include of course the loose trade. a journal that explain why you took that trade. It is a must that you have enough data on currency pair and its time frame of trades, the tools you used and the indicators that encourage you to take the trade.
