Trading with 5m Force strategy, Day 14

Today, last day of the week. Price started to raise after the Tokyo open. When I came to monitor the fx chart, momentum was slowing down. A "hanging man" candlestick fromed in this uptrend.

Figure 01: EUR/USD, 5m chart. "Hanging man"

Price went down but not for long. Again raised to form a double top after failing to break the previous top.

Figure 02: EUR/USD, 5m chart. "Gravestone doji"

After that a gravestone doji formed. Price started to move downwards. I could have collected 16 pips here. But I kept this short trade as I want to do some longer term trade.

I read another strategy here at ForexFactory during my early days here. You can find the strategy here.

Figure: 03: EUR/USD, 4H chart.

According to the strategy (link mentioned above), a short signal is present. So short entry kept with a 100 pip S/L.

Figure: 04: EUR/USD, Daily chart

See the price action on daily chart. It's on bearish move. Bullish move can start any time. But I entered the position with above mentioned strategy.

After the downward movement following gravestone doji, price started tomake higher lows but not making higher highs. So basically price was moving sideways. Then immediately before London open price started to make higher high.

Figure 05: EUR/USD, 5m Chart. London open

After that sharp upward movment crossing the both shorter and longer upper TL, prce started to fall from the daily pivot line. Price formed a dragonfly doji. Took a short trade there.

Figure 06: EUR/USD, 5m Chart. "Drgonfly doji"

A got out of the trade with 16 pips on the third candle before it again started to move upwards.

Figure 07: EUR/USD, 5m Chart

Upward movement didn't last long. Price gradually went down. This downward movement was associated with news breakout.

Figure 08: News breakout

Figure 09: EUR/USD, 5m Chart

I'm now 50 pips unrealized gain. But according to the strategy I'll keep the position open. Let's see what happens with then newer strategy. I'll keep trading with 5m force strategy but with smaller lots. While I was writing this post, I missed a well deserved short entry of easy 16 pips profit. That's why I usually write the post at the end of the day when I'm not on trade.

Total pip collection: 16 + 8 = 24

With EURJPY auto trading, pip collection is: 5 + 37 -27 = 15