Hendrik Trading journal

[HENDRIK]

we've got rising bottoms within the bearish triangle
the falling trendline was broken yesterday
took long at 1.55232 as it failed to fall back in the triangle .. pivot lended good support
and 2nd long at 1.5534
target is R1 at 1.5632
at 40 & 30 pips brought sl to b/e of 2nd long
Price bounced off the bullish upper trendline
closed both .. result only 24 pips

[HENDRIK]

This pair has rising bottoms since 9 Sept.

Pivot once again offered good support
I'll be looking for a short on a sustained break of pivot or a long on a break of the upper trendline

Now the euro has (for me) a bullish megaphone pattern and the gap between the expanding lines is 400> pips
it's a very large pattern and could render good profit if the top resistance trendline can be broken. I will be aware of a false breakout

Alternative:
some might call it a broadening bullish wedge. This pair witnessed a steep uptrend in the last days. This might lead to a breakout upwards with a continuation of the long trend BUT be aware of a poor signal ... so sl must be small ... wait for a pullback

[HENDRIK]

Gpb/Usd pierced R2 & the blue trend line with about 40 pips .. it retraced and one can see already the collapse of the shortterm up (red line)
we might see support at pivot , 5535 & 5490.. I will be looking for a buy with confirmation
On the other hand ... there's a SS on the daily chart .. how significant that might be we'll have to see
it's way outside the bollinger and therefore in my humble opinion it will continue the long trend

The euro might find support at 2960 or 2900
I'll be looking for a buy at the above levels

[HENDRIK]

UPDATE
Euro/usd
the market did not react in the way I've foreseen so my trading plan was not triggered

At this point in time my analysis on the pound was good whether the news later tonight will effect it further I will have to see. Btw the ss rendered a good 100 pips! I did not take a short as I was looking more at the bollinger. Pity.
reasons for taking a long with a very tight sl as it might still go down to the 70.7 fib being 5455: price retraced within the support range mentioned above and 6 pips away from S1. On M30 appeared a bullish piercing line which is significant of a bottom revearsal pattern.. no candlestick confirmation though
Targets 5600; 5640; 5700 5785

[HENDRIK]

An update on yesterday's trade closed (1.5700 3rd target) this morning
1st order 176
2nd order 174
3rd order 155
total of 503 pips

From 5700 price revearsed to the 44.7 fib and a bullish piercing line developed took a single long order at 5657
closed for 30 pips

[HENDRIK]

although the pound went mostly sideways during the Asian market it broke the days support of 5805 and retraced
took a single long at 1.58133 with a 1st short target 5840 as there's not much news todays
Target hit for 27 pips

The euro bounced off the pivot at 1.3423 took a long at 1.34512 due a hammer on M30
target at 1.3490
close trade for 23 pips
today only 50 pips

[HENDRIK]

GBP/USD
I'm trading a sustained break of pivot at 1.58198
took a long at 1.58287 with a target at 5890/ 5930
1st target hit and the price quickly dropped.. closed for 36 pips
looking for a new entry

EUR/USD
H1 doji & piercing bullish line confirming a reversal at support of S1 1.3400
Mark's signal was a good one & I took a long at 1.34237 with a target at 3480/3540
1st target hit & price dropped .. closed for 53 pips
looking for another entry

[HENDRIK]

EUR/USD
I can't load a chart H1 SS and confirmation c/s Price broke the upper trendline, retraced and made another attempt to break the line .. trading the pullback as a correction is overdue
took a short at 1.35926 with a target just before pivot at 3500
took 2nd short at 35873
sl of 50 were taken

[HENDRIK]

GBP/USD
Price bounced of the pivot .. waited for a sustained break of R1 long at 1.58866
hope to reach 58400 sl at b/e was taken

EUR/USD
Pice broke pivot and S1 waited for a sustained brak of pivot long at 1.36185 hope to reach 1.36600
sl at b/e was teaken poor point of entry

[HENDRIK]

I haven't traded Usd/Jpy for some time ... in any case come to think of it my trading periods are few and far between.
I had a look at the monthly chart and saw that we are near the support of April 1995 79.75. The intervention of BOJ did not help at all.

As I'm typing this the price broke the Upper Bearish trendline and I will contemplate a short on a sustained break of the blue line
Well, I did not keep to my trading plan as I could not sit on my hands no longer (cowboy)
took a short after the break of the upper line at 83.264, it broke the blue line ( I do not expect much)
target 83.00
Target hit for 26 pips

GBP/USD
there's a double bottom pattern on this pair not so precise though. Size of about 130 pips which offers a great deal of potential profits .. price is now struggling with the neckline and it's expected to break and thus rising to R3 1.5990.
Price might retrace to 5850 area being the 38.2% of the fib ...to 5830
Will be looking for a long entry with candle confirmation
Update: price did not retraced as expected therefore I took a long at 1.58805 which found resistance at R1, 1.5930 closed this trade for 40 pips