Thursday 13th January

by 23:59 0 comments
Today was more like the kind of day i've been waiting for since the start of the year. Unfortunately I didn't take a trade but a few things came good.

The two main things I want to mention are Cable reaching 1.5840 and a trade on Swissy which I saw the set up for but missed my entry.

Towards the end of last year I started looking into Point and Figure charting again after having not looked at it in a considerable amount of time. I've decided I want to try and combine Point & Figure and VSA and develop another strategy from that. After looking at a 4hr Cable chart between Xmas and New year I set an upside target of 1.5840 with a buy at 1.5540 as I thought a bottom had been reached. The trade was triggered on the 31st December and ran until today, hitting it's 300 pip target. Interesting!

Now, onto my current strategy. As I mentioned above I unfortunately missed a set up today. Probably the clearest one i've had so far as well. I'll post the screen shots anyway, so as to illustrate the point.

Firstly, the hourly chart shows high volume in the morning on the up bars and it was a short from this that I actually missed. The no demand entry for that trade is highlighted on the 20min chart. I've also highlighted the volume that came in towards the end of the London session. I was looking to go long on these but very little happened afterwards and it continued to drift down a bit further.

Swissy 1hr

Swissy 20min

That's just about everything for today, hopefully get a trade in tomorrow. A couple of USD announcements that will no doubt have an effect.





28. Forex. Trading. Music. Beer. Food. Travel.


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