Monday 11th June

by 10:04 0 comments
Well Ireland got spanked by Croatia anyway! No such luck there. At least England got a good draw with France last night.

There were two nice EU set ups yesterday. One in the morning which I didn't take and one in the evening that appeared just before I was heading off to work for the evening - so I didn't see it until much later.

15min chart for the morning set up, 5min chart for the afternoon set up;

On the 15min chart i've marked the three important zones for the day, the first trade is a combination of the low of the first zone and the 50% of the second zone. The high volume that marks the second could easily have been mistaken for strength coming into the market but the overall reaction is poor, with the volume falling off over the following bars, ending with that ND into the 50% area. Really nice move from here.

EUR/USD 15min

We had some weakness come in on the 15min chart at zone 3 (shown above) with a high volume up bar closing in the middle, the next few bars were down confirming some weakness, we then revisited the low of the area on No Demand on the 5min chart.

EUR/USD 5min

Both these entries are really nice, it's this type that I want to be taking on a regular basis, but I keep managing to take the poor set ups or making mistakes!

One thing I did take yesterday was an experimental point and figure trade on GBP/USD. I shorted a triple bottom breakout and let the trade run over night. I put the trade to BE before going to bed so I was at no risk. It didn't hit the target and closed it manually for a few pips this morning.


I've spoken about PnF a few times in the past but I want to start using it more and more. I'm planning to go back to the start of the year on EUR/USD, GBP/USD and Oil and look over my preferred PnF set ups and see how they've fared so far. So that should keep me busy for the rest of today and tomorrow at least.



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


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