Thread: GS Journal

I'll only concentrate on E/U for now.

Bulish PA have topped out and in order for bulls to recover the bullishness is to return up above 11325 and stay above 11275 for any further upmove in an attempt to achieve 11475-11520 upper fractal.
Bear will have to breach 11160 and stay below 11245 to recover the bearish opinion once more. Failing that the bull will still prevail.

With all this specific levels being spelt out it's all up to you to optimize the entry/exit/ and SL accordingly.

Currently I sold the pull back @ 11305 after price violation 11275 and stay below 11325. My profit target is 11198.

I'm planning to reverse the trade also around that level also minus 20pips if 11165 remains untouched. In case 11165 is breached I'll wait to find out if 11245 will hold its new bearish opinion for me to commence the new brief trade. If not its still a long buy trade with SL@11160 and targetting 11325 initial and buy the pullback again when 11275 holds which will even act as my next commerce SL targetting 11470-11520levels or until the next topping occurs.

My trading style is very unique and directly forward with great RR. You shall observe and judge for yourself the quality of my commerce calls.

I wont post onto the E/U thread again due to a fantastic numbers of commerce guessworks, wild claims and a few totally ridiculous and inane numbers and childish cyber behaviour being played out there. And that I noticed and realised that there's nobody that truly knows how to trade profitably there. Its really a mad place.
Remember nobody including myself really knows where the price will go but becos I have heard and understand how to follow the price moves, the best I will do is that I will only follow wherever the price go no matter if its bull, bear or impartial rangey markets. Its just that easy.

Hope I will last here for a long time....

GS.

Alright, Profit is locked @11198 and awaiting basing/bottoming confirmation. As I have mentioned in mine before article that for bear to recover supremacy 11245 wants to hold and 11160 have to be broken. Up to this minute PA hasn't shown its hand yet. So we will wait and see which way it will leads us. Either 11245 breached with 11195 holding or 11160 breached with 11245 holding. Buy/Sell pullback of all 20-30piprs with the SL I've mentioned for the TP according to mine previous article.

It's possible to set on your queries but will only be answered within the w/end. It'll be unthinkable for me to post my trading chart but in case you're able to post yours Maybe I can figure out the ideal items which you will need in your chart in order to profit from this organization.

GS.

PS I have the habit to typo numbers because of my constraints and trading and if I do pls correct me...

Price did not cross 11296 after emptying 11245 does not seem good for your bull and if 11160 is breached then its back into the bear to call the shot again.

Will post once PA is better...

I m horizontal onto this pairs now.

GS.

Interesting. Thanks for sharing.

k

Thank you for launching your new journal. I read every one your threads. All of these. That's the only treasure I discovered in the whole forum. By SD, pips value to Breach and Hold degree, I read over and over.

Just hope you will keep your thread and it'll continue long enough before somebody like me edued with your trading style that is successful.


Cheers!

Ok now that I have my diary heading I will try my best to do a weekly discourse/brainstorming about what had occurred the last week and the way we are going to handle the coming week and also to answer a few pertinent questions(if any) and also to share a few of my trading philosophy/ideas concerning forex and also in some broader context involving general political and geo political influence on coverage in monetary and financial economics matters.
That I have no doubt whatsoever that my journal will have a great positive effect for people who want and choose to read and learn a thing or two to further enhance their chances in beating this very challenging and hard business. In summary those who listen and have learnt will reap the best reward that may end up to be a nice life-changing procedure for a few. Of course I'm also aware that there will be some undesirable characters out there who will constantly try a variety of ways and means to abuse/misuse/sabotage a few of what I am doing here now. In anticipation and to pre empt from these actions I will also greatly appreciate inputs/ideas from these genuine traders as to the way to protect/enamour ourselves from these undesirable/wick/nefarious goals that I will have to manage and cope with in my latest endeavour.

And now with that being understood, coped with and put aside, let me begin my first weekly session in trying to reevaluate,and dissect the overall situation/event so that we can empower ourselves for another trading week to come.

Last week PA for this pair was in a fairly predictable prevailing bullish trendy mode but following the NFP and the UK elections news occasion, PA have inexplicably and suddenly morphed into a reset or consolidating manner as in the rests of almost all major pairs with U/J being the first pair to place the ball rolling and the rests have now starting to kick in. In light of this happening we will also have to reset/redeploy our trading egy into rangey/consolidatory method so as to realign our commerce set up and transaction successfully in this kind of PA manner. This is going to be where most automated EAs will neglect and unenlightened traders will be bewildered and lost and the degree of strife and disagreements will greatly be raised and heard in the primary E/U thread that will be a terrific source of bliss and light amusement in this forum. (I frankly think that's the most important reason why its so packed in there.)

I will have to depart right now but I wiil return later latest by Sunday to enlarge on what and where I have left off and also throw in some rangey price levels just so we will always stay in the right side of the trade.

Bye for now....

GS.

I am back and to continue from where I have left .... PA has already shown its hand by means of a feeble, erratic and conflicting momentum which is indiive that its morphing to a consol manner, so obviously the next question will be consol/range from where to where? So my answer is its the upside upper-case fractal which is capped@11420 level or the lower drawback lower-case fractal which is capped by 11020 degree. If that being the case how could you knows whether PA wants to established the range on which degree? So my answer is when its the upper-case I have already mentioned in my original article the upside breach/hold degree and when its the lower-case I also have mentioned the lower-case downside breach/hold degree which is 11160 using a new time decayed 11197 holding rather than 11245 as previously mentioned.

Now with all these critical levels specifically spelt out, the safest and most perfect means to trade IMO would be to wait for those specific levels to be broken afterward buy/sell on 20-30 pips pb with SL at hold degree and TP @ 10-20pips before hitting restricted amount before embarking on a flip trade (reverse trade normally takes a longer period of approximately 7-24hrs for price to flip).

These are the specific trade set up which I use and try to remember the strings like I won't repeat it in the future other than posting the a variety of breach/hold and capped levels. And if by some quirk of all fate/luck that my read is incorrect then ancient heads up/warnings will be submitted by me before any real damage can install.

Another interesting point I like to make is that there are a couple of trading egies that I have read in this forum which are indeed quite like mine but most of them fail or fall short becos they cannot/fail to identify and stabilize the breach/hold/capped levels which make the entry/exit/tp levels quite challenging and unnerving. As the consequence it undermines the quality/robustness/effectiveness of a fantastic system which they have and painfully built up. Its a pity though. A case in point is the Abonacci system and one or two more which I have forgotten.

I only use a single screen monitor and all of my brief term/intraday charts (15-240mins) are revealing same levels during. Daily/Weekly charts are for longer Trend identifiions and settings are set otherwise. All preferences and indiors are distinct on all individual currency pairs even on the most corel pairs due to distinct CBs settings different bandwidth and are occasionally tweaked due to social and political considerations including nationwide sentiments and what nots. Do not use charts and its own indiors settings from your Banks/LP/MM/Brokers because it can be modified to not its own authentic reading. Try using an independent third party supplier for your charting needs and price packs. I will also occasionally and randomly mentioned a few of my useful tips concerning how to recognize and read all of the a variety of price movements and its own structured tendencies and tendencies. I only trade majors and not crosses pairs like I personally feel it makes no sense in trading them they're all a by-products of the base currency versus the planet booked currency which is the usd in developments to the additional spreads incurred. There's a growing trend of an immediate currency exchange arrangement between nations and I think its a matter of instances before usd loses its dominance as oil is slowly and gradually being replaced/substituted with the other equally economical, workable and suitable source of energy.

Anyway what I am trying to perform would be to assist several traders increase/enhance their chances and opportunities in their quest to be a much better FX trader. Once that's being done I can retire peacefully knowing that I have at least done/contribute something favorable to mankind before the book finally shuts down on me. Joking.

So on another week and we shall see when I have really read the PA properly and together we can create some green pips. And of course all of my market reads/calls relies upon no CB interventions or other geo-political issues including Acts of God.

Good luck and have a good and safe weekend. Sorry for the long post.

GS.

Aborting my short commerce although 11198 held flawlessly....dont similar to this rangey PA, looks as though it might wants to run on the top first before heading down....Will attempt to sell from high and buy from trough. Still early into the week so no purpose to force the transaction.

GS.

Looks just like the double bottom is forming, so there could really be a push up.
I am long since the London available, using a tight SL @1.113 (which might be too tight).

K

Edit: it is not moving up, so left only 1/5 of the position in drama.

Current PA either have to extract 11225 for a upside retest of 11420 to keep its bullish drive OR it has to extract 11125 to test out the bear threshold@11055.

If and when 11050 is breached with 11099 retains then its more than to the bulls and intraday fashion will turns bearish again. Presently I am flat on this pairs before those amounts are being played out.

Pls take note of all the amounts and transaction accordingly....


GS.