Ending July

Not much this last day of the month, due to the late entry on the first trade, which (naturally) gave a loss. Ending a profitable month, time for some vacation now.

Afternoon session

My 5 trades for today. There is a strong resistance at 134.72 from a 4-hour chart fibo line. Better to stop here and not chasing the breakout.

My time slot

A smooth breakout and pips in my time slot.

And this

One risky trade on this, expecting the move up.

That's all for today. 31 pips in 7 trades and 55 minutes. I can go swimming now.

9 o' clock

The nice and smooth breakout happened at 9:00 precisely (8:00 CET), at Frankfurt opening. Trading is easy! lol. Second trade at fibo 50% of previous and new support line.

Ketil

Enjoyed the Sunday with Ketil Bjornstad's music. (here with Terje Rypdal).

More trades

Too many trades...

Today's session. Total of all this, 39 pips.

Going down

After the initial mistake (identical to this of previous post), I got the good direction (down). Total 43 pips.

My classic mistake

I still do this mistake, less frequently now : on the second trade i entered contra-trend and insisted to continue with this, despite the price lower hights and bearish CCI. The trend was obviously down.... Closed at -15 and then traded very carefully to cover the loss..

Frankfurt's bell

Fast and easy pips at 9:00 precisely, with opening bell in Germany (8:00 CET , 9:00 my time). The continuation of this was less obvious.

Infinity (4)

..and finally, the single candle of 6:00-7:00 hours of the previous contains most of this chart on the left. We cannot go further : charts cannot subdivise 1 sec or half second or range 1, or 1 tick, it doesn't make sense. The analogy of price action with the mind-blowing world of fractals stops here. But here an other idea comes to mind with force : if the end of subdivision is (almost) axiomatically proven here, the possibility to move in opposite direction is mathematically possible : to move from 1 sec to larger time entities, to take the river in reverse, with accurate results.

P.S. the above has to be proven and the way from an idea to the proof of this can be long. Besides, as I try to convince my friend Andrea Oppenheimer, trading is NOT a rocket science, just a pattern recognition "game"...

Infinity (3)

Continuing, the single candle/day of June, 30 on the previous chart, contains also a full hourly chart, this on the left.

Infinity (2)

Taking the analogy from previous post (Mandelbrot's marvellous work ), let's have a look at EJ monthly chart:













The single candle of June 2009 contains a full daily chart, the following:

Infinity (1)

Overtrading

I could not resist to trade the volatile NY first hour on this Friday. It took an eternity to break a descending trendline on the hourly and then price got a pace to go up. Too many trades... tight stop behind the price gave many exits and re-entries. I am stopping at this point.

5 trades

My 5 trades for today. Good entries at swing points on the second and third, although, between them, I hesitated on the clear breakout at 132,30 and missed the move down.

Quick 3

These 3 quick trades only, on a busy day.

Breakout

Entry on the first was late, 10 pips away from the breakout. It could be risky but the bias up was strong.

20 minutes session

A fast and fluid session with 21 pips gain. The second trade was closed with no reason (CCI was still bearish) and a new was opened immediately after. This cut of a trade in 2 consecutive ones, is risky : in order to protect the gains of the first, i increase the risk of the second (and pay more on commissions too).

That's all for today.

Afternoon session

Hesitation to catch the reversal, after the realised gains.

Monday morning

Italia

for Andrea

No words, no reviews, just listen to this! Pure beauty!!.. It made my Sunday, together with some of his other cds, like Slowing down the word, December, etc. It's easy to categorize Botti under the smooth jazz label. But he is much more than that. He is (very) deep sometimes, he is frivolous on other moments.

Some moments of magic here (with Andrea Bocelli).

Friday afternoon

That is closing the day/week. Better stay away from next hour's Friday's fixing, especially after a very volatile week.

Consolidation

i was busy this morning and missed the pre-London session and the new price drop. I had only one trade into the consolidation phase.

After the storm

Back to the usual sparrow activities. That's all for the morning.

Home run

a drop like this happens 3-4 times a year, maybe less. I was lucky to have open charts. I missed the first part and got 125 pips! Too much for a humble sparrow.

Easy morning

Easy pips this morning and pre-London, after the sharp decline on Nikkei. 40 pips in 20 minutes.

Breakout

Went for the breakout and some (unnecessary) trades after this.

And this

Vivid Monday

Mediocre trading before the breakout and better executed trade on the retracement for 11 pips.

Three fours

That's all for the morning. The third trade could be entered earlier, more safe.

I stopped after the third and didn't take the typical London opening reversal ("Big Ben") who followed.

"The market takes off!.."

I still do newbie mistakes, after 4 years in this market. I took the second trade in the fear to miss the move up, got a -15 quickly after entry and freezed like a cat under car lights. Price resumed up and closed the trade on the next turn down with a loss of 7.

Going up