Mihai's Trading Journal - Page 3

MihaiFXI · #21 07-03-2007, 11:04 PM

Today during late London session we took a short @246.60, 2 units, target at 247.05 - both units hit their stop by 1 pip in early U.S. hours, after a spike in GBP across the board. Total loss 45+45 = 90 pips.

After observing price action we finally re-entered long into a position (ICWR confirmation), 1 unit from 246.83, stop at 246.35. Target for this trade is 247.46. Right now moving in green, we'll get back to this tomorrow and see how it went.

MihaiFXI · #22 07-03-2007, 11:07 PM

After waiting for some time to get into a long trade on USDCAD, price made a rally on the upside, and afterwards gave us the pullback we were looking for. We have an ICWR buy order for USDCAD @1.0620, stop @1.0670, target open. Looking to ride a possibly larger wave up in the 1.07-1.08 area.

MihaiFXI · #23 07-03-2007, 11:21 PM

Hi Swana, I am not sure what exactly you mean about the USDCAD trade - it is not going anywhere yet, as I am not in - I should get filled at 1.0620, perhaps later today or tomorrow, stop at 1.0570, target open. We already discussed these levels during the NY LTR, so I suppose that is not surprising in any way.

With regard to the achievements - actually I have just posted the loss I had on gbpjpy today, and I will continue to post all the trades we take, regardless of their result. I can only agree with you, trading is not a 1 time success - that is why we are trying to keep the average good, even if sometimes we must take losses as we did today. I believe all posts on the forum are accurate and reflect exactly the trades we took during the LTR, as well as the reasons we took them, so it should be obvious to everyone we are not trying to conceal anything from our members and from anyone for that matter.

I felt from your reply you were not content about something - and I would like to understand why. The reason I am updating the forum so late is that I was away all this time (we cannot be trading all day and all night long, right?)

Otherwise, if you know of any trade I took and it is not found here, please let me know so that we post the details right away. Wins or losses - they should all find their place here, for all of us to learn.

MihaiFXI · #24 07-07-2007, 10:04 AM

Later the same day we entered a new GBPUSD long on a ICWR scenario, backed up by a divergence setup.

Entry @246.83, stop @246.35, target @247.46

Trade went well and reached target after the LTR close, during the Asian hours.

MihaiFXI · #25 07-07-2007, 10:12 AM

Based on our broad Elliott Waves view on USDJPY (published on this forum last Sunday), we took a long on this pair on Thursday which was confirmed by ICWR and a trendline break.

Entry @122.80, stop was set at 122.45 on ICWR, target:123.15 (123.20 was the 161% projection of the previous wave down).

Trade went as planned, target reached target before Friday's NFP.

MihaiFXI · #26 07-07-2007, 10:46 AM

On Tuesday, we took a ICWR short on GBPJPY from 246,60, stop at 247.05, target 245.60 - stops were hit after a spike up, then price moved down and entered our profit zone. Not a very lucky one...

Later that day we re-entered long on the pair (see next trade).

MihaiFXI · #27 07-09-2007, 03:15 PM

Based on the larger mid-term bearish view and an ICWR setup we shorted USDJPY on Friday @123.20 just an hour after the NFP - the pair pulled back up during the first sessions of the week, so we got stopped out @123.55.

Looking forward to place a new short if the market will give us an opportunity - the bearish outlook will remain in place as long as the current high @124.13 is not broken.

MihaiFXI · #28 07-09-2007, 03:20 PM

After the NFP on Friday, we took an ICWR long on EURUSD, @1.3623. The pair consolidated for some time and developed new patterns in early London session today. Given that the original reasons for which we took the trade on Friday were no longer valid we closed the trade today @1.3627.

Will be observing the market for new opportunities.

MihaiFXI · #29 07-11-2007, 10:57 AM

This trade was a classic pivots trade. Entry at 0.8602, triggered on the break of a 15 mins chart trendline, after observing a reliable resistance established at the R2 level.

Target reached later in the Asian session, 0.8570 (central pivot level).

MihaiFXI · #30 07-11-2007, 11:00 AM

Another pivots trade, taken after a break of a trendline on 15 mins, after observing a failure to break above the central pivot.

Entry at 0.7812, stop above the pivot level @0.7835, target @0.7760 (S2 pivot level). Target reached during the Asian session.

This trade also took into account 2 divergences noticed on 15 mins and 1h charts.