Hello!

Believe it or not, I just lost 12K due to the lack of self-discipline! Made 2 loss trades on EURUSD today.

Anyway, now I am holding 3 positions in EURUSD, GBPJPY, and GBPUSD. These 3 has finally gave me signals to long/short.

For EURUSD, I have shorted the pair as it showed a short signal right after hitting the Bollinger Bands, however, it seems that the 1.29391 support level is hard to break. But based on my indicators, I think it would be good if I were to stand on the short side.

The 1.5280 support level for GBPUSD has also been broken during the day's trading. Therefore, I have decided to short the pair. Stochastic also gave me a good signal to do so, even though it is now roaming at below the 20 level. 

Evening everyone.

Alright, I have opened a short position on GBPJPY @ 155.59 as the price did break the support at around 155.70 just now. Also, stochastic is providing me a good opportunity to short.

Continuing, you might be wondering why did I not open a position on EURUSD as mentioned. Currently, this currency pair is not giving me any good opportunity to trade! Looking at the performance of GBPUSD tonight and the positive correlation between EURUSD and GBPUSD, I am standing on the short side of this currency pair.

Alright, the markets are once open again. I have been keeping track of the EURUSD since this morning. Looking at the H4 chart, you can see that there is some resistance at around 1.29555. I believe that the Euro will rise against the dollar for this week. I would only open a position if the next H4 candlestick forms above 1.29851. The stochastic indicator seems to be giving a good signal to long EURUSD too!

I won't be looking at the GBPUSD pair for now as I feel that the trading opportunity for EURUSD is much better than the former. 

Let's go for the USDCHF shall we? I don't have much experience in trading this pair, but based on my estimates, the Swiss Franc will probably appreciate against the dollar. Yes, in other words, you might want to look out for some shorting opportunities for this currency pair. 

I will have another post tonight or tomorrow morning regarding EURUSD :)

See you!

Alright, my first forex post. I am currently not holding any positions. Based on my H4 chart, the EURUSD pair has hit a low of 1.2945 during last week's trading. It closed off the week at 1.29851. Based on my predictions, there is a possibility that this pair would be heading up north, given that it is bouncing off the lower Bollinger bands. However, I would say it would only be safe to long this pair only if it goes up the 1.30285 resistance. I would short this pair if tomorrow's opening goes below Friday's low. If you were to look at the daily chart, you can see that this currency pair is actually ranging between the 1.29851 and 1.31654 level. Personally, I stand on the long side of this pair until it hits the upper limit of the range.

Hello everyone, or at least those who are reading this blog. This blog serves as my trading journal, which I hope will be useful for both you and me and help us to be a better forex trader. However, this would also serve as a disclaimer that I am NOT responsible for any losses (or gains) which you make when using information found on this blog. Information here is for educational purposes only. Thank you :)