Gilbanks Journal - Picture trades

[sean7725]

Not a great trading day today. I took 4 trades which I will post below and explain them. However I am still positive by a couple dollars which is nice

[sean7725]

Here is my AUDUSD Trade.

What I saw on the 5M chart was a nice move down then a sideways consolidation so I checked the 1H chart and saw an declining eWaves so I placed a sell short.

The trade was opened but retraced back up to the balance gator line and I decided to close the trade with a -7 pip loss.

[sean7725]

Here is my EURUSD trade.

What I saw on the 5M was a little run up with a bit of a pull back and the gators mouth was starting to open so I looked at the 1H chart and there was a Maroon bar on the eWaves so I placed a buy stop and the trade was opened up then the pair stayed sideways for a bit after my trade was opened. This trade was placed about 25 mins prior to the NFP news so I made sure that my SL was in place and no more then 10 pips.

After news came out the pair dropped and hit my SL giving me a -9pip loss.

This news helped my short trade on GBPUSD though as you will see next. :-bd

[sean7725]

Here is the GPBUSD trade.

On the 5M chart there was a Seed setup, the gators mouth was opening up and the eWaves was near the ZL. I checked the 1H and there was a declining eWaves also the eWaves was close to the ZL.

I set a sellstop and the trade was opened. After the news release when the EURUSD pair hit my SL this trade pushed down nicely.

I left a bit of wiggle room for this trade as i was waiting to see if it would hit the weekly pivot point and possibly go through it.

This wasn't a fast moving trade at all I was in this trade for about an hour and a half.

My TP was set about 15 pips below the weekly pivot point. When price reached the weekly pivot point it retraced really fast and hit my SL giving me a +16pips .

***Note: Looking back now I should have set my TP just above the weekly pivot point which is what I will do next time.

Still happy with the trade overall though. (wd)

[sean7725]

Here is my GBPJPY trade.

The 5M chart had a nice move down with a sideways consolidation. price tried to move up then pushed back down so I looked at the 1H and the eWaves showed a Dark Green bar so I placed a sellstop.

Price went down and I was in profit about 10 pips so I tightened up my SL just above my open trade then price made a pull back and hit my SL giving me a -4pip loss.

[sean7725]

I haven't posted any new trades because wejust had a new baby and I haven't had much time. Also I have been taking sometime to read material. I have taken Immy's advice on focusing on 1 pair to trade only. So I have decided to join the skype group and trade the DAX only.

I will start posting trades today as I have started trading again. :-bd

[sean7725]

Today I made 2 trades.

First I took a glance at the monthly, weekly and daily charts to give me an idea if I'll favour shorts over longs or vice versa.

On the Daily chart I saw that price was close to the yesterdays lows and if it broke there could be a good push down. I forgot to save a 1 hour chart I did look at it and it was sell bias when I set my pending sell order. Also on my daily, weekly and monthly charts I have the 6 ema and 50 ema that is thanx to Grant I believe he uses the same ema's. On my 1m, 5m, and 1h charts I have the 1h 6ema and 50ema.

On the 5m chart you can see there was a seed setup and the gators were opening up and price was just above yesterdays low so I placed a pending sell order.

As you can see from the pictures I adjusted my SL and TP accordingly. This trade was closed out at +67pips.

[sean7725]

This was my 2nd trade for the day.

I was going for a fruit reversal what I saw on the 5m chart was a close above the lime green gator and a new candle opened above. On the 1m chart was a seed setup so I placed a pending buy.

I set my TP at +25 pips where I felt resistance might be I placed an x at the spot I am talking about.

price moved up and almost hit my TP but shot back down fairly quickly and hit my SL at +3pips.

I try and set my BE asap for protection.

[sean7725]

I made 1 trade today and added to postion.

When I got to my computer there was already a nice run up when I looked at the daily chart I noticed that the price action was near the lower blue line I had drawn previously for the range and the 1H chart had 2 seed candles after a really nice run up so, also on the 5M chart there was a seed candle and eWaves was close to ZL so I placed a sellstop. I didn't keep a close SL on this trade I just moved to BE as I wanted to give it breathing room on the 5M chart as I was wanting to see if there was going to be a big push down.

I added a second position to this trade when another seed candle showed on the 5M chart and placed my second trade TP just above the TZ1 line which was hit with +13pips.

I also moved my SL down on my first trade. The price action went sideways on the 5M chart for abit and ended up hitting my SL giving me a +16pips.

Total for the day was +29pips.