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My Forex Journal
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Thu Sep 30, 2004 9:58 am    Post subject: Reply with quote

A big hammer is forming, plus a grave stone doji formed at 9am...the support is at 1.2480. I'll be looking to go long, but waiting for a bullish engulfing bar after the current hammer(as a confirmation) in the 30-min chart.

11:03 --- Well, it doesn't look like a hammer anymore! Better stay out for now, until its time...
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Thu Sep 30, 2004 6:55 pm    Post subject: September Pefromance Reply with quote

Here is my candlestick trading performance log for this month. 400 pips a month, that's my goal, also hope I can increase my %Win rate, and keep it above 70%.



Last edited by FrankC on Fri Oct 01, 2004 11:21 am; edited 1 time in total
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Thu Sep 30, 2004 7:41 pm    Post subject: usd/chf... Reply with quote

Bought 1.2465 SL 1.2442 TP 1.2485

A hammer resting on the support 1.2450, with stoc. crossed above 20 should be good for 20 pips.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Fri Oct 01, 2004 3:43 am    Post subject: Update... Reply with quote

TP was hit at 1.2485 (+20)

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Brazilian_Nutter
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PostPosted: Fri Oct 01, 2004 7:44 am    Post subject: Also Followed you by Oanda Reply with quote

Your journal, seems very interesting Frank...keep it going...I'll check it out on the daily basis.
I've just started with Forex, and I've learned a lot from these posts.

Regards,
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Fri Oct 01, 2004 11:11 am    Post subject: Trade Journal Reply with quote

Thanks Brazilian_Nutter. Keeping a trade journal has helped my Forex trading a great deal. I've started my first Trading Journal in MoneyTec, and decided to move to this forum since it is designed for candlestick traders like me. I highly recommend to anyone who doesn't have a trading journal to open one, either privately, or publicly. It is a must for serious traders.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Fri Oct 01, 2004 12:14 pm    Post subject: :idea: Reply with quote

I think near 1.2530 area is good to sell with the target toward 1.2450 area...if not today, then certainly starting Sunday's openning.

I have circled the key events...the clue lies behind the key events. 1.2530 is the area that I anticipate where the next key events might occur Exclamation

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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Sun Oct 03, 2004 9:34 am    Post subject: US$ Index Reply with quote

I usually follow the daily chart of the US$ Index, just to get a feeling for a bullish/bearish sentiment of this very important index. The daily chart certainly looks bearish. After breaking the last support at 88 with a beraish engulfing bar, the next support now lies at 87.

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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Sun Oct 03, 2004 1:43 pm    Post subject: dollar chart Reply with quote

Wowever the dollar chart did show a bullish harami on friday, with the stochastics just getting into the oversold area. If the dollar shows strength on the open monday, it may have bottomed at least for a few days.
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Sun Oct 03, 2004 1:46 pm    Post subject: dollar chart Reply with quote

candlestick1,

So the pattern shown above(last circle) on Friday is a bullish harami?
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Sun Oct 03, 2004 1:53 pm    Post subject: forex signals Reply with quote

Yes use the logic rationale that the first candle, an indecision day, then a third day moving through the opposite colored candle of two days prior will still reveal a symetrical signal that indicates a change in investor sentiment
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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Sun Oct 03, 2004 2:04 pm    Post subject: harami Reply with quote

Yes a harami says that the selling has stopped. This weeks free newsletter has the description of the harami signals
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Sun Oct 03, 2004 4:33 pm    Post subject: usd/chf... Reply with quote

Looks like we have a bullish harami for the usd/chf as well...not so sure though! Idea

The first candle looks like an inverted hammer...does inverted hammer is as good as "an indecision day?" If so, then I'd buy 1.2450-70 area, target 1.2550 with stop-loss 1.2400-20 area.

This pair feels like an Oracle(ORCL)Smile

Any daily close below 1.2450, no more Oracle Crying or Very sad

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candlestick1
Site Admin


Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Sun Oct 03, 2004 4:43 pm    Post subject: Chart pattern Reply with quote

I do not see an inverted hammer, the last two days show a bearish candle followed by a harami, do not see the stochastics on this chart but would anticipate that this is in the oversold area
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FrankC



Joined: 23 Sep 2004
Posts: 269
Location: Chile

PostPosted: Sun Oct 03, 2004 4:49 pm    Post subject: Reply with quote

Perhaps the first candle is a shooting star, but as you mentioned it is a bearish candle. In one of your article, if I may recall, you mentioned that seeing a shooting star near a support level, is a good indication of buying strategy near that support. Am I correct?

Yes, the stochastis is at 19(oversold area).

Regards,
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