Took another trade today and rounded off the week with a loss. To be perfectly honest it was a terrible trade. I saw high volume on a down bar followed by a slight up move and then No Supply so I thought it looked like a good set up. In the grand scheme of things there was a lot of supply in the background as in the centre of the hourly chart and i was buying into a down trend that was already overbought.

Still profit for the week but down over all. 

On to next week.

Cheers,

KFT

Trade 4 - USD/CHF (Swissy) - Buy @ 0.9646 -  Closed @ 0.9602 = -44

Swissy 1hr

Swissy 20min

There was a lot of movement and a lot of volume around today. I didn't take any trades but I did unfortunately miss one because I took a few minutes to do something else. Kinda annoyed that I missed it to be honest but there ya go. The trade was a buy on Cable.

Here are the charts anyway;

Cable 1hr

Cable 20min

Had another good day today with a sell on EUR/CHF for 42 pips. I also gained my 3% target from this trade. Volume on the hourly followed by an upthrust and no demand on the 20min as usual. After reaching my target it retraced a little and headed back up. Another no demand came in and it actually went a further 77pips (5.5% more) from my profit target. Still, delighted to make my 3% and back in the black!

That's all for today,

Cheers,

KFT

Trade 3 - EUR/CHF - Sell @ 1.2961 -  Closed @ 1.2919 = +42

EUR/CHF 1hr

EUR/CHF 20min

Today was a great day! Had my first successful trade of the year. Didn't gain my 3% but still made a bit of profit. Entered a short on Cable and made 11 pips (out of a 64 pip target). Doesn't sound like much admittedly but i'm happy nonetheless! I got out according to the 5min chart which is kinda against my strategy. Funny thing is i was right to get out short term but some more selling came in as highlighted in the chart so I should have probably stayed in. Could've re entered the trade as highlighted on the 20min. But didn't! A lot learned from today that's for sure!

Trade 2 - Cable (GBP/USD) - Sell @ 1.6002 -  Closed @ 1.5991 = +11

Cable 1hr

Cable 20min

As well as this trade there was another opportunity on Eddie later on in the day. Unfortunately I thought about taking the trade for far too long and ended up missing it as it moved about 30pips in 5mins! It probably would've been more of a scalp but from my entry price it moved around 30pips. Charts below;

Eddie 1hr

Eddie 20min

That's it for today,

Cheers,

KFT

I reread Master the Markets over the weekend. It was definitely good to refresh on a few things as well as reminding myself of a few things that I had forgotten. One major thing I took from the book this time around was looking at the volume relatively, whilst i've always known this subconsciously or otherwise it certainly came to the fore after reading the book again. I've always gone on about Monday being quiet but this isn't necessarily the case. With this in mind, this brings me on to today. It was a bit quiet with the bank holiday in the states but having said this there was a trade I probably could have taken on Eddie.

Eddie 1hr

Eddie 20min

Hopefully i'll make some trades this week, but as usual i'll wait patiently and act when I get my opportunity.

Cheers,

KFT