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Mangolassi's Forex Price Action Journal (daily chart)
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Mangolassi's Forex Price Action Journal (daily chart)

  #11 (permalink)
Trading for Fun
Boston, MA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received

Just an update: I'm not very happy anymore with Oanda + MotiveWave. Oanda's API doesn't give MotiveWave the flexibility to display 5 daily bars per week... as absurd as that sounds, I confirmed with MotiveWave support that the API only allows them to use 6 daily bars per week. They also confirmed that IB and FXCM do not have that problem; their API allows them to use 5 daily bars per week.

Basically, I'm back to using Oanda's Fxtrade for execution and TOS for charting. Gonna look into the possibility of using Sierra Chart with IB or FXCM.


Last edited by mangolassi; April 11th, 2015 at 01:56 PM.
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  #12 (permalink)
Trading for Fun
Boston, MA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Interactive Brokers, AMP/CQG
Favorite Futures: N225M (Osaka), ES
 
Posts: 165 since Dec 2014
Thanks: 60 given, 112 received

ANALYSIS OF DAILY BARS (4/6-4/10)

At the end of every week and before the Sunday open, I will post my analysis of the 7 pairs I am trading (EUR/USD, GBP/USD, USD/CHF, USD/JPY, AUD/USD, NZD/USD, USD/CAD).

I posted this in my journal at brookspriceaction.com, and forgot to post it here.


EUR/USD:

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04/06/2015 Failure of bull breakout. Also a possible L2, and an end to the deep 2 legged pullback beginning on 3/16. Also a failure of the LH MTR setup. Also a double top with bar 3/26.
04/07/2015 L2 entry bar. Early bulls likely to exit their long positions.
04/08/2015 Bear bar with good size tail on top. Bulls try to keep market from falling, but fail. Measuring gap.
04/09/2015 Strong bear bar as bulls exit their longs at a loss.
04/10/2015 Bear bar with lower tail.

GBP/USD:

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04/06/15 Failed bull breakout. Barb wire. Stay flat.
04/07/15 Bear bar with tail on top. Bulls still trying to keep market from falling.
04/08/15 Strong bull pressure early on, but bulls failed to close above. Failed bull breakout. Two failed bull breakouts is bad news for bulls.
04/09/15 Big bear bar as bulls exit their longs.
04/10/15

USD/CHF:

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04/06/15 Bars 4/5 and 4/6 formed a 2 bar bull reversal. Double bottom with bar 3/26.
04/07/15 Good follow-through after reversal.
04/08/15 Doji. Some bears probably scaling in shorts. Bears want to see a lower high.
04/09/15 Strong bull bar as bears exit their shorts at a loss.
04/10/15

USD/JPY:

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04/06/15 Higher lowers, but lots of two-sided trading.
04/07/15
04/08/15 Tight trading range, lots of bars overlapping.
04/09/15
04/10/15


AUD/USD:

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04/06/15 H2 setup bar, but looks like tight range. Limit order market.
04/07/15 4/6 was an H2 signal bar, but weak follow through today.
04/08/15 Trading range. Looks fairly tight, however. Difficult to trade with stops. Limit order market.
04/09/15 Doji bar with bull body. Lots of two sided trading in past few days. Lots of tails on tops of recent bars, indicating many bull breakout failures. Bears are still strong. Expanding triangle forming since bar 2/3.
04/10/15

NZD/USD

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04/06/15
04/07/15
04/08/15
04/09/15
04/10/15 Lots of two-sided trading, but likely more sellers than buyers due to the tails on the tops of many bars.

USD/CAD

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04/06/15 H1 at bottom or trading range.
04/07/15 Trading range fairly tight. Bars would have to be fairly small to enter on stops. More of a limit order market.
04/08/15
04/09/15
04/10/15 Strong bear reversal bar. Maybe going to touch down again to the bottom of trading range.

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