Trading with 5m Force Strategy, Day 6

Hi every body. Today I was busy with my professional work. But even then I managed to monitor fx market. Upper and lower TL for longer time frame re-drawn. Now price is approaching upper TL and expecting a bearish bounce there as price is forming higher high and stoch is forming lower high. That is bearish divergence pattern is developing.

Figure 01: EURUSD, 5m Chart. "Bearish divergence"

Entered with a short there after the divergence. But almost 2 hours after I got out with 3 pips but could get 10 pips more. During these 2 hours, first a hidden bearish divergence developed and then another bearish divergence pattern developed.

Figure 02: EURUSD, 5m Chart.

Price then moved towards the lower TL and bounced from it to give a bullish signal. As stoch and MACD confirmed the signal, I took the long position. But price retraced again made new LL before moving north. I got out with 11 pips.

Figure 03: EURUSD, 5m Chart. "Bullish Divergence"

As price was moving against my trade initially, I was worried about that and failed to locate developing bullish divergence. After the divergence I gout my pips. Price actually moved 20+ pips after the divergence.

Figure 04: EURUSD 5m Chart.

Figure 05: EURUSD, 5m Chart.

Price mad a new high. Upper TL adjusted. Price bounced back from the upper TL and a good short signal was developing here.

Figure 06: EURUSD, 5m Chart

I missed the entry by a single bar. So I didn't took the position. Missed a quick 10 pips.

As high impact news is ahead, entering any trade would be unwise. News was about German ZEW economic sentiment and ZEW economic sentiment. Both were high impact news. During news release time, price showed up and down movement in few seconds with 30 pips range.

Figure 07: EURUSD, 5m Chart

Price produced a new upper TL with intact lower TL. With the bounce from new upper TL a good short signal is developing.

Figure 08: EURUSD, 5m Chart.

I missed this signal too. It was a long 32 pips trade. Price is approaching lower TL and a bullish bounce is expected. Other indicators are also lining up for this trade. I took this long trade.

Figure 09: EURUSD, 5m Chart

I grabbed 9 pips here and kept 25% of trade open to grab more pip on its way towards upper TL. NY session still to open in 1 hour. Let's see what happens then.

At the start of NY session, EUR/USD moved 15 pips upwards. I exited my rest position with this movement of price upwards with all possible pips. Now price is moveing sideways. I'll quit for today.

Total collection of pips for taday: 3 + 11 + 2 + 15 = 31
Potential pip gain could be: 16 + 7 + 25 + 10 + 5 + 32 + 15 =  110