Charts - Friday 16th January

by Liam 17:22 0 comments EURUSD

As usual, i'm slow getting the Friday update posted. Considering this post makes it eight entries for the year and I only managed nine in the whole of last year, I think i'm doing ok!

I went to see my girlfriend for the weekend with no wifi so I didn't get around to posting these charts.

Had another positive trade which rounded off my week nicely. One of the best in a while. Now to keep on top of things. The excel charts, albeit simple have really made a difference to my trading. Having the 45° trend lines has been really advantageous.

EURUSD 15min / 3min

1. This was the high volume zone which I took the trade from. Coupled with the down trend already in place on the 3min excel charts, this was a nice place to look for an entry. You can see the green box on the right chart where I took my entry, just as it broke the low of the zone.

2. I was targeting the low of the high volume 15min zone from Thursdays CHF inspired spike. Seeing as I'd had a good week up until this point I decided to close one half of the trade at the initial target and let the second half run and trail the stop. It didn't quite hit the target at the low of the zone and was stopped for a good profit on the retrace.

EURUSD 5x2 30min

I'm not actively trading the above excel chart but I wanted to post it to illustrate how well it stuck to the trend lines during the day. I've been watching this chart set up for a while now and i'm getting ready to start taking some longer term trades. By longer term it'll still be intraday but longer term than the 3min i'm already trading!

The green box highlights another good entry in the evening which would have yielded a nice return.

Cheers,

Liam