Hendrik Trading journal

[HENDRIK]

Trading against the trend
The bottom line of this uptrend is about 150 pips away. price found resistance at 5820 and started to move south
took two shorts at 5909 & 5892
targets are 5835; 5800 & 5770

[HENDRIK]

I'm 2 days behind in my journal... being too busy with other stuff like getting the vines in order , it's very labour intensives and the figs and guavas

trade of Oct 6 did not panout as expected 1st target was hit and closed for 74 & 57 pips
Total 131 pips
Yesterday I missed the up and decided again to trade against the trend (for the same reason as before). Price just passed 1.60000. Took a short at 1.60013 and a second at a time the price went in a cosolidation at 1.59240.
I got a bit chicken and closed the first trade for 124 at 1.58770 and the 2nd for 47 pips right at pivot.
S1 was my target at 5780. So, I left a lot of money on the table, but as yet the price didn't reach S1
Total 171 pips
Looking to go long

[HENDRIK]

USD/JPY ..heavily oversold
the price is about 300 pips away from an all time low. This pair does not move fast and it's understandable.
My opinion is that the price might retrace to 82.50/60. Should that happen we've got a h/s pattern on the H1 with a neckline at 82.11.
On the other hand: price went as far as 81.70, and retrace now to 82.10 (40 pips) .. it might bounce off the red line and threaten the low of 79.00, but first the price must pass the very important round one of 80.00. It would be interesting to watch when 81.00 will break

GBP/USD
This pair is in an strong up (a channel of 180 pips) and I have to refer to the daily chart. Price is at at strong rest of 1.6000 ( Aug 06 )and whether or not it will break to R2 of 1.6100 remains to be seen. A double top can render good profits whethet or not the price rise with another 100 pips. A sustained break of 1.6000 might give us a few pips. Or I will not be afraid of going against the trend as the channel is fairly broad and 1.6000 might just prove good rest and lastly this pair is heavily overbought

[HENDRIK]

USD/JPY
Price retrace to the 61.8% of the fib on the H1 chart .. just pierced the neckline
M15 has a s/s & a double/triple top and true to the nature of double tops it appeared at the 61.8%.
Took a short at 82.071 & 81.91
1st target 81.70/50 being the 70.7 & 100 of the fib. To me the setup is good for the 161.8% (81.16) and 261.8% (80.55)
sl is tight at the top of the ss plus spread
Due to the public holiday in US the market is mostly in a tight range... hopefully it will pick up during the Asian market
In the area of 82.00 strong support was found .. it took my tight sl's

[HENDRIK]

EUR/USD
On M15 a ss appeared. After the news at 5GMT on M1 one noticed a bit of stoploss hunting and when that settled price reached the rest. of 1.4000 after breaking R1 at 1.3980
Short at 1.39927 with a good r/r ratio open another short at 1.39636
target 3922 fot 70 pips
38.2 of fib proven to be a good support I closed both for 86 pips in total as I had to work in the vines

GBP/USD
I was a bit occupied with my Euro entry and therefore the pound entry aint that well as it is after the 23.6 of fibo and rejected the R1 at 1.58875
short at 1.58525
target 5822 at pivot I do not expect much of the pound today
I moved sl to b/e too soon and that was taken decided rather to stick with the euro

[HENDRIK]

GBP/USD
Price breached R3 and reached 1.6065
took a short at 1.60490 target 1.5980 for 69 pips

1.6000 proved to be a good rest it did even reached the 23.6 fib
closed for 30 pips
Now .. for up

took along at 1.60352 and hopefully it will reach the 141.4 of the fib
so targets are 1.6065 being the immediate rest then 6080/90 b/e sl taken I hope that it break the resistance which proof to be too strong

[HENDRIK]

GBP/USD
Price moved about 130 pips below opening and broke the resistance at 5866 but bounced off the 200% fib. A hammer and bullish engulfing prompt me to go
long at 1.5863 if it can break S2 & S1 my target will be where the 44.7 and the 100% of the fib coincide, that is the resistance at 5970 for 107 pips
price did not reach target closed at 5928 for 65 pips

[HENDRIK]

BREAKOUT OF EUR/USD

trading a breakout of S1
2 short orders at 3861
target 3800 & 3770
Both targets were hit, but the price went in a range and I closed both trades for 61 pips each as I could not watch the market as I had to spray the vines and figs

[HENDRIK]

I can't stand long nor sit for a couple of weeks ... so now can also say: " I'm making money on my back" He-he!

Aud/usd
BREAKOUT TRADE ( now it looks a false one)
Price broke the rest of 6020
took a long at 1.0645 with a target at 1.0150
it broke the R1 at 1.0102 and retraced .. closed for 36 pips

so I went short at 1.0104...targets won't be high I think, maybe 23.6%/38.2 or pivot at 0.9997

I also traded the euro ...long at 1.41995 .. as I didn't trust it I set profit at 1.42300 for 30 pips
It passed target broke R1 and turned at 4263

[HENDRIK]

candle pattern hammer on H1
took a long at 3866 5 pips above todays opening price
if there's a sustained break of pivot I will be looking to add to my position
I did not add any orders as the pips went as high as 101, but I did not close this trade as it's not often that I can get a good entry, so I consider this an experimental trade... sl is at b/e
price went down to 3872 just 2 pips from sl

lesson is take your 100 pips upwards and one should have followed the ss for another 100+