Nader's Trading Journal

[Nader Moustafa]

Drifting lows upward and the inclined 2 leveled resistance area prompted a rise towards the first significant resistance @ 2.0284 where a close above there suggests entering the upper part of the up channel visible on the 4Hr chart ONLY IF a strong close above 2.0320 takes place.

LONG @ 2.0247

Target #1 : 2.0281 reached +34 pips
Target #2 : 2.0360 reached +113 pips

Stop moved to BE (break even) on the second position

[Nader Moustafa]

With a Daily close above 1.3680, EUR/USD exited the falling channel and closed strongly outside of it and above significant support level @ 1.3680 triggering our Long position @ 1.3697 (a bit late) ,where it comfortably closes in the lower part of the up moving channel seen on the 4Hr & daily chart.

LONG @ 1.3697 2Lots
Stop @ 1.3656

Target #1 :1.3731 R line on daily and a channel line #### Abandoned
Target #2 :1.3765 Next Daily and channel line #### Abandoned

Both positions were closed @ 1.3721 as falling channel rejected price 2 times at mid 1.3724/26 forming a double top on 1Hr chart, so the next spike that approached the channel again was our ejection point @ 1.3720.

P.S:
Price dropped after wards 30 pips below our entry point.

[Nader Moustafa]

After a 4Hr candle close above the rising trenline of the mid-core channel ,we initiated a long position @ 2.0234 ,1Lot.

Long @ 2.0234
Stop @ 2.0206

Target 1 : 2.0278 ,base of the previous resistance on 06-Aug.

[Nader Moustafa]

Another 4Hr close above the significant resistance @ 163.73 was a 'get ready to long' signal, and we initiated a long on the retrace after the next 4Hr close as well.

Long 164.00
Stop 163.84

Target @ 164.4+ as close as possible to the 164.44 resistance side of the up trend.

Barely printed 164.42, so we went out with 41 pips,and like the GBP/USD we'll re-long on a good deal.

[Nader Moustafa]

"yesterday's resistance is today's support, c'est la vie"

So, the break and close above our previous target initiated a long position again.

Long @ 164.62
Stop @ 164.40
Target : 165.22

[Nader Moustafa]

A clean break and close of 4Hr candle outside of the falling channel and above the rising channel line triggered a long position,and targeting the next resistance (upper channel line) at 1.3813.

Long @ 1.3776
Target : 1.3809

[Nader Moustafa]

From the 4Hr chart we seen a break outside of the down leg that held price since the 16th of Aug. high @ 1.2210 to 21st of Aug. level @ 1.2010 , as well as the 61.8 level of the fib fan plotted at from - to the same levels holding price, so we went long @ 1.2088 targeting 1.2140.

The trade did not go in our favor and breached the fib fan as well as the trend line supporting the lows so we closed it for -24 pips

[Nader Moustafa]

Using divergence setup with Fib. fans on small time frame charts (1min, 5min, 15min) referenced by Fib. retracement levels from 1Hr, 4Hr we could manage to enter multiple trades on GBP/JPY.
Best trade taken on that spot was:

Entry @ 232.73 ,upon a close above 61.8 fib fan level (5min)
Target @ 233.72, we kept locking in stop until price got rejected @ 233.80 so flattened out at first possible high

However,many trades were taken during the day according to same concept that are:

2007.09.06 20:06 buy 233.47 2007.09.06 20:13 233.18 -29
2007.09.06 18:50 sell 233.63 2007.09.06 19:50 233.38 +25
2007.09.06 17:31 buy 232.73 2007.09.06 18:32 233.72 +99
2007.09.06 16:59 sell 232.64 2007.09.06 17:00 232.90 -26
2007.09.06 15:51 sell 232.32 2007.09.06 16:01 232.55 -23
2007.09.06 13:04 sell 233.24 2007.09.06 14:01 232.60 +64
2007.09.06 12:09 sell 233.86 2007.09.06 12:38 233.42 +44
2007.09.05 21:03 sell 232.73 2007.09.06 03:00 232.24 +49

Total = 8 trades, 202 pips , 176.24 actual value.
P/L positions = 5 wins / 3 losses
Over all average PL/trade=25 pips.

[Nader Moustafa]

GBP/USD

Down Leg and break is needed at 2 different Levels (Fig -2-) to continue the longer turn uptrend (lower blue line and 3 arrows).

On a very short term ,on a scalp 50K SHORT @ 2.0355 targeting 2.0320.
Stop losses as close as possible to entry and set to BE at first possible chance.

Zooming out in time,medium (1Hr,4Hr) are still on an uptrend line (blue) thats being tested.
Zooming out a little more (next figures 4Hr and Daily), if this 'blue' breaks we're possibly short.
If it doesnt then probably we need to see the 2.0345/70 'Pink' channel line above giving way as well to 'long' other wise short from 2.0350 on the way back if it holds.

P.S:
Open all charts on different tabs and move between them sequentially.

[Nader Moustafa]

Update,
Down surge continued,so we continued the ride to 2.0300, however ,a little much was left out on the move obviously.
now trading 2.0271