FX Trading Diary 14 Oct 2011

Sorry to whoever was reading my FX blog, there wasn't much entries lately because I was tired. My sister is in hospital for an operation and I got a truck load of work to finish.

I have updated the format again, hope whoever is insane enough to read this will like it.



USD/CAD

I am looking for a sell at the supply zone at two levels.

Trade 1 : Sell @ 1.032, SL 1.0352, TP1 1.015, TP2 0.995

Leading time frame : D1-H4.
Demand zone is at 1.0322-1.0348.
Supply zone is at 09881-0.9934.
Entry Type : Market order
Strength : 2/2. Strong move away from level.
Risk/Reward : 2/2. Risk 32 pips, Reward 170 / 370 pips.
Big Picture : 1/2. Daily trend is up and H4 trend is down. This will be a correction wave.
Retracement : 1/2. This level is not fresh but not penetrated deeply each time.
Time at level : 0.5/1. Short nice basing for 6 hours.
Arrival : 0/1. No idea yet
Total score : 6.5

Trade 2 : Sell @ 1.0404, SL 1.0433, TP1 1.015, TP2 0.995

Leading time frame : D1-H4.
Demand zone is at 1.395-1.42.
Supply zone is at 09881-0.9934.
Entry Type : Pending order
Strength : 1/2. Reasonable strength of move away from level.
Risk/Reward : 2/2. Risk 29 pips, Reward 254 / 454 pips.
Big Picture : 1/2. Daily trend is up and H4 trend is down. This will be a correction wave.
Retracement : 1/2. This level is not fresh.
Time at level : 0.5/1. Short nice basing for 4 hours.
Arrival : 0/1. No idea yet
Total score : 5.5

EUR/USD

I am looking for a buy at the demand zone at two levels.

Trade 1 : Buy @ 1.3652, SL 1.364, TP1 1.378, TP2 1.391 

Leading time frame : H1-M15.
Supply zone is at 1.391-1.394.
Demand zone is at 1.345-1.366
Entry Type : Pending order
Strength : 2/2. Strong move away from level.
Risk/Reward : 2/2. Risk 12 pips, Reward 128 / 258 pips.
Big Picture : 2/2. H1 trend is up and M15 trend is down. This will be a impulse wave.
Retracement : 2/2. This level is fresh.
Time at level : 0.5/1. About 90 minutes of basing.
Arrival : 0/1. No idea yet
Total score : 8.5

Trade 2 : Buy @ 1.3596, SL 1.3553, TP1 1.378, TP2 1.391

Leading time frame : H4-H1.
Supply zone is at 1.391-1.394.
Demand zone is at 1.3557-1.3597
Entry Type : Pending order
Strength : 1/2. Reasonable strength of move away from level.
Risk/Reward : 2/2. Risk 43 pips, Reward 184 / 314 pips.
Big Picture : 1/2. H4 trend is down and H1 trend is up. This is a correction wave.
Retracement : 1/2. This level is not fresh. There is a light penetration.
Time at level : 0.5/1. Basing for 5 hours.
Arrival : 0/1. No idea yet
Total score : 5.5