NEW TRADE url url Thinking of buying at that 1.14375 line. CPI and Sales came in worse than expected, actually declining in the case of sales. And the price is still in an uptrend on the daily. This retrace is 50% of the initial jump so lets ...

Elroy G Trading Journal

NEW TRADE url The price seems to have turned, or is consolidating on the daily. Either way it is making some long red candles that seem to be suggesting a reversal in the uptrend. This morning, the PPI values came in better than expected, with ...

Elroy G Trading Journal

NEW TRADE (2:52) url url On the 4HR I'm seeing a failed test of a line, and divergence. The candle pattern is a very strong engulfing. It's completed it's run to the major quarter, even though it still has space to go higher. It's trading below ...

Elroy G Trading Journal

New Trade (4:18) url Price looks to be ranging on the 30min. I drew a parallel channel going back a few days and realized price bounced off the line when Stoc indicated overbought/oversold positions. Considering I'm in a selling mood, I'll think ...

Elroy G Trading Journal

NEW TRADE url I think the dollar is regaining some of its strength. Should share my analysis of the EUR/USD and USDx charts, but essentially I think they've entered the ABC Elliot correction wave for both charts. On the 30 min, I noticed a 50SMA ...

Elroy G Trading Journal

Today I was doing some reading on the Elliot Wave to get a better understanding of that Technical analysis tool. (see StockCharts, Elliottwave-Forecast) Simply put, movement in the direction of the trend is unfolding in 5 waves (called motive wave) ...

Elroy G Trading Journal

UPDATE url Ok so no. It looks like the buyers are gone outta this. Considering it didn't definitively move up, it could be a weird day. So i'm out. But lets see how the day ends, that'll give some idea as to how next week will work. So next week ...

Elroy G Trading Journal

NEW TRADE Today, the US NFP, unemployment, and wages data is released. Fundamentals galore. The price is currently in a 15p range between 1.1425 and 1.1410. Now I could probably take advantage of this ranging and buy the lows when Stoc. is oversold, ...

Elroy G Trading Journal

UPDATE url As it turns out, this trade would've gained me another 15p. But I closed out because my plan says to close trades before the NY session closes. Still, nice to know I would've gained here had I stayed in.

Elroy G Trading Journal

UPDATE Well this one went beyond teh NY session so I closed out.

Elroy G Trading Journal

NEW TRADE So today was either good day for the EUR or a bad day for the USD. Either way traders were very much risk on or the pair. I wasn't feeling particularly risky when I considered a trade early in the day and missed out. Price kept running ...

Elroy G Trading Journal

UPDATE url Price formed a tweezer top on the 30 min, landed a wick on the 1.13625 line and went up from my entry to my target. I didn't set an entry, but as you can see I would've come away with a good little profit of 30p. Now to look out for a ...

Elroy G Trading Journal

New Trade url Selling pressure did not continue last night and the EUR/USD returned to a buying posture more in line with the daily price movement. On the 4HR, price has engulfed a previous low and broke above a downtrend line and ...

Elroy G Trading Journal

UPDATE url Managed 15p and would've been glad with this, even though I targeted 20p. But doesnt matter cuz I didn't even make this trade lol.

Elroy G Trading Journal

NEW TRADE Thinking of Selling EUR/USD @ 1.13469 targeting at least 1.13313. url Price is in an uptrend on the daily, which suggests looking for buy signals. However 5 things suggested selling is validated: it has extended beyond the upper Major ...

Elroy G Trading Journal

I'm trying to simply my approach to the markets, meanwhile trying to gain a better understanding of the indicators I've chosen to use. The better I know my tools, the better I'll get the job done I think. One of the tools I use is the Stochastic ...

Elroy G Trading Journal

UPDATE I closed the position at a profit of 1.04.

Elroy G Trading Journal

UPDATE: url I reversed my position after waking up and seeing two things. The price had made a double top at a resistance line and had made three large candles downward following that. Couple that with the factt that the FOMC was to release their ...

Elroy G Trading Journal

I'm looking at the EURUSD Here's teh daily url I'm seeing an uptrend that has extended beyond the upper Major quarter of 1.13. It has retraced for the last 3 days, but hasn't returned to the 1.13 line. In fact, it already retested and went back ...

Elroy G Trading Journal