Trade with 5m Force strategy, Day 13

After Tokyo open, price started to move sideways. Before the starting of present session, price showed a little upward movement. Missed some good trade yesterday due to just not being in front of the chart. So I'd like to collect as much pip possible today.

Figure 01: EUR/USD, 5m chart

At 11:00 am local time (+6 GMT), price started to climb and made a new upper TL.

Figure 02: EUR/USD, 5m chart

Price then bounced back and produced a nice selll signal. At the upper bounce point, it produced gravestone doji before moving downwards.

Figure 03: EUR/USD, 5m chart. "Gravestone doji"

After the bar price moved nicely downwards. I took the short trade immediately. At the lower TL  price bounced and started form a long signal.

Figure 04: EUR/USD, 5m chart. "Gravestone doji"

As the MACD didn't give me signal. I waited. But found another gravestone doji formed. So I kept my last 10% short position to run and refrained from going for long position.

Figure 05: EUR/USD, 5m chart.

A bullish divergence was forming. This signals a bullish move. London session is opening soon. See what happens.

Figure 06: EUR/USD, 5m chart. "Bullish Divergence"

Price moved sharply upwards, which was not a good sign. Again moved equally downwards. Then gradually moved according to chart pattern.

Figure 07: EUR/USD, 5m chart.

Reports on French consumer spending was due at 1:45 pm (+6 GMT). After the news release see what happened...

Figure 08: EUR/USD, 5m chart. "French consumer spending" news impact

Consumer spending was below the level of expected. It was -0.8% where expectation was -0.1%. Last month it was 0.2%. Impact lasted for 5m single candle - about 14 pips down.

Figure 09: EUR/USD, 5m chart. "London open"

Now see what happened after London open. After London open price moved sideways with large fluctuations of price. Then formed a pinbar immediately before news release.


Figure 10: EUR/USD, 5m chart. Pinbar formed before news release

Nice downward movement, I just watched it. No valid singnal by force system. I'll keep my eye on this type of price action more carefully.

Price, forming a new low, started to climb up again. I entered into long position this time.


Figure 11: EUR/USD, 5m chart.

Upward movement of price was not so smooth as previous downward movement. It's not unusual, specially after news release, I think. Price movement here started to produce a divergence with stoch indicator.

Figure 12: EUR/USD, 5m chart. "Hiddne bearsih divergence"

Price was producing a Lower high with stoch producing higher high. Following this divergence, price moved sharply downwards. As I'm learning these price actions, I was just observing without going into action.

Figure 13: EUR/USD, 5m chart. Bullish Divergence

In the downward movement, price was producing a lower low and stoch produced higher low which indicates a bullish divergence producing. And price moved upwards. Here I tooke the long position and grabbed 8 pips.

Figure 14: EUR/USD, 5m chart. Price action after NY open

 Then I was waiting for NY open. After NY open price started to fall until it reached daily support DS1 line crossing the WS1 line above.

Figure 15: EUR/USD, 5m chart. News release after NY open

The news had effect on the downward movement of the prices. I'll have to go to sleep as I have to go to work tomorrow morning.

Pips for today: 12 + 2 + 8 = 22

My EURJPY pair auto trade pip collection was also 22.

Trading with 5m Force Strategy, Day 12

I always miss the start of Tokyo session because it's 6:00 a.m in the morning. Let's see what happened after the start of Tokyo session.

Price went down towards DS1 from daily pivot1. Price bounced over the lower TL and tested two times before started moving towards north. Stoch & MACD were also in proper set up. Good number of pips were there.

Price was then approaching upper TL and bounced & produced a double top. Price was headed downwards. On the way it was producing a long signal. Look how it's changing its direction before producing a confirmed signal.

So always confirmation of signal is necessary. Price after going downwards, bounced back from the lower TL.

Grabbed 7 pips here. Then price again started to move upwards. Took a long trade.

Look how price developed a hammer which guided me to take the long trade. This trade was actually a test trade where price action and chart pattern was added to the force strategy. With this long trade I gained 5 pips.

It was just before the starting of London session. Immediately after start of London session price started to drop sharply towards lower TL which was backed by the WS1 line.

I took the short trade and got 4 pips because, on the next candle price sharply went north.

Then 40 minutes before the news release, a good long signal came. It's always safe to stay away from news. But I wanted tto see the relation of the effect of news and price action.

Figure 07: News release

 

It was nicely related.... luckily, I think.

On the 3rd candle after news release, price sharply moved down. I took the short and grabbed few pips.

Now I want to stop here as I'll have to go out. See you later.

Total pips for today: 7 + 5 + 4 + 10 + 10 = 36

Price action while I wasn't watching............... but required....

Before and after the opening of NY session there were two good signals of 40 pips move each.

Following the long trade after the NY opening higher lows were developing. While price was approaching loer TL, a stoch divergence was developing. A bullish reversal signal developed as evidneced by bullish divergence, hammer & bounce from lower TL.

Good bull move until Tokyo session. Could have taken >60 pips.

Trading with 5m Force Strategy, Day 11

Today is a mixed trading day. I'm now at work. I'm monitoring market at my free hours. The morning started with a loss. Actually price was moving along the weekly support line no 1. Got a buy signal. According to the force strategy, it was not time for the trade. I took it to see what happens. Price was moving in a range of 5-7 pips. So actually there was nothing to gain. But I took it experimentally as there was the signal.

Lost 20 pips here. Today there was a bulish movement before opening of Tokyo session. And it continued for 15 minutes before starting sideway move.

Then I got a buy signal which I took.

Collected 11 pips there. After that a bear move with a sell signal by advanced rule. But I missed it due to my busyness at work.

After the bear move, a long position taking opportunity came with force advanced rule. Took it but could not take the advantage of it. Took only 4 pips where there was >40 pips available. Due to the busyness with other things, I had get out of the market. I also missed the London entry point. This bull movement was before the London session and it kept going on. Just after the London open a bear signal came. But it produced another 20 pips loss for me in the same candle. I figured out the point of London session open later when I tried to find out the cause of sudden reverse movement.

I'll stop my trade with force strategy today if I don't get enough time for monitoring.

I gained 100 pips from EURUSD pair with different trade and another 115 pips from EURJPY pair by robot trade. I'll let you know about those later. Over all not loss but loss with force strategy. Not the fault of the system though. It's due to wrong implementation.

I thought I'll not trade today. But I continued to monitor market for educational purpose. Found 2 sell signal, couldn't ignore them. Trades were -

Took 8 pips in these two trades. Then quickly I received a long trade opportunity. I took there 12 pips.

Price moved to upper TL and formed a shooting star there and bounce from the upper TL and started to go down during the opening of NY session. I waited today to see the price action. It moved nicely downwards almost 35 pips.

After the nice downwards movement price gave a good buy signal. Took the long position and grabbed 20 pips here.

If I could have stayed in the market longer then I could have gained 40 pips. After the bullish move, price again started to move downwards and gave another good sell signal.

I took the short position. But price started to move to opposite direction. This time I quickly exited 80% of my position with 4 pips and rest with 9 pips. Saved my money (demo money though). It was the hour after which some high impact news was scheduled to be release...

In the last minute of first news candle I took short position as news was in favour of USD. Let's see what happened.

Grabbed 22 pips here. At last I'm feeling good.

Today's pip collection: -20 + 11 + 4 - 20 + 2 + 6 + 12 + 20 - 9 + 22 = 28 pips...

Not bad after such loss. First 20 pips loss was the part of experiment and next 20 pip is due to not monitoring price due to my busyness and last 9 pips were inevitable. So I'll have to be more attentive when I'm trading.

Thanks for listening.


Trading with 5m Force strategy, day 10

After the weekend, price started with a gap upwards and moving the price downwards starting from above the DR1 to daily pivot. On it's way, before the tokyo opena 1 good sell and after the tokyo open 2 small sell signal by the force basic system.devloped.

As usal I was retruning home from my work when these signals were developing. After that, I was just marking the tops without any reversal in effect, I found that price is making a cup. Look the top marking, cup is yet to be formed. Cup and hanle pattern is bullish continuation pattern and this is seen usually in larger time frame. That's why I could not believed it at first. So I was sust waiting patiently.

Price is moving upwards to form the cup. I wanted to go long here but resisted myself as there was no valid force signal on screen.

See the zoomed out view of the cup. A bullish channel before the cup. So an expected bull move after the handle formation and breaking of upper line of the handle.

On it's way to build the cup, a good sell signal was there. I took it and lost 20 pips. Then took another two long postion following the advances force rule. Gained 10 pips + 23 pips.

Cup is completed, handle is also commpleted. Price broke the upper line of the handle. A good long signal also developed at the sam place. I took the long position there.

Now look at the zoom out view of the scenario...

Now I want to show you another intersting thing here. This last long signal here started immediately before the London open. See how did it happen....

I bagged 12 pips as I was going out to attend a book fair. But left some position open. Came home after about 3-4 hours. Guess, what happened?

Bagged >50 pips. Entry was just above the DR1 but below the weekly pivot and exit was just above the DR2. Kept some position to see how far the price can go... I'm doing this just for learning purpose.... Price action.

Total pips: -20 + 10 + 23 + 12 + 50 = 75

Though my trading was completed for the day, I was studying and monitoring the price action. Price is now downwards. I tried to find out any cause. Found that there was a double top that I missed.

While trying to dig out more, I found that I missed another thing...price formed the double top immidiately after the NY open and ralied down towards the daily pivot, crossing all the dr2, weekly pivot, dr1 levels.

So, today, price moved downwards at the beginning of Tokyo session, rallied upwards at london session and again movied rapidly downwards after the start of NY session. I need to monitor these points on a regular basis. Still missing these things. Actually I was not monitoring price action. That's why I was missing a lot. Another thing I missed.

Missed a bearish stoch divergence. What happened at one time..... now price is on oversold area and preparing to get out. Before doing that, in might produce a double bottom. An inverted hammer is already there. Price should go up but price movement is slow above the daily pivot and monthly S1. This is also the last hour of London session.

Trading with 5m forex strategy, Day 9

I usually write the post at the end of the day. Today was a bad day for my forex trade. I missed three good trade. I could get at least 30 pips there as there were almost no negative movement after confirmation of the signal. After that three more trades.... 6 pips could be collected here, if not more.

Price was now moving towards upper TL. Price already produced three tops at Daily pivot. So a downward movement was exptected.

This entry signal was a valid signal by advance strategy.

According to thie advanced strategy, I entered into short position but price quickly reversed. See the daily chart, price is little bit bullish after two consecutive large bear candle.Overall trend was downwards. My entry was one candle late. I could grab 8 pips. But I got 2 pips before price moved towards north. Price is then produced a shooting star.

It was a bear call. I got into the trade but again late. That's why I'm saying that it was a bad day for my fx trade. Price movied again sharply against my trade. If I could get into the trade at right time I could get at least 5-6 pis there before the move. But I managed to minimize my loss at -4 pips.

Price again moved beyound the upper TL to move the upper TL further and again produced a shooting star (I'm consfused about whether it's a shooting star or not). Price again moved downwards as expected.

I again took a short position there and probably another delayed entry. As the signaling bar was always making a large movement with a shorter bar following it. Then price starts to go reversed direction. This time I managed to get out with 1 pip only.

So overall a very bad trading day. On the other hand, it's good to save account with smaller loss. Now I think I'm faceing difficulty in entry by advance rule. Need more practices..

Now withing last 2 hours of London close. Price is moving towards lower TL. After a bounce from there a good buy signal is devloping.

But see, MACD is still black, and EMA hasn't yet crossed on the signaling bar (long bullish, second last bar). So I'm not taking this trade.

See what happened here. Price moved opposite direction after the signal bar is closed.

Price is moving sideways now. Look, two missed trade at around US session open. Really bad day for me.

A good short signal is developing on the background of a downtrend in last few days. See what happens next.

Stoch gave a valid signal but price didn't move significantly. The stoch is in over bought area, crossed and came down cleanly, But MACD was still blue and price was moving sideways. So presence of all criteria is mandatory for the system to work properly.

Total Pips: 2 - 4 + 8 + 1 = 7 pips

It's good to notice that Immediately following NY open price moved 16 pips upwards nicely. I think, I'll have to keep an eye on this price action pattern regularly to take these nice pips without facing any trouble if possible. Lets see this price action in the chart.

See, good upward movement of price. I'll focus on this on regular basis. Let's see how many winner we can get along with loser/no trade.