EURUSD 29 Aug 2011

First day of the week.

Started well with long position when the price traded above the ichimoku kumo cloud from below. This was furthered confirmed by tenkan-sen cutting the kijun-sen, and chikou-sen cutting above kumo cloud from below.

Partial position was sold off as price traded near the top of kumo cloud. The remaining position was closed out and the price penetrated into the kumo cloud.

A short position was initiated @ 1.4513. However it was not triggered.

A short (& smaller) position was established @ 1.4522. Though the price traded below the ichimoku kumo cloud, this was NOT confirmed by tenkan-sen and kijun-sen, chikou-sen had also not traded below the kumo cloud. This position was closed out with a loss.

Closed the day with profit.

EURUSD 26 Aug 2011

Not a very good start. Initiated a short position. Was stopped out.

A long position was intiated thereafter. Recovered the loss for the earlier trade after closing out part of the position.

Remaining position was stopped out later on.

Ended the day with little profit.

EURUSD 25 Aug 2011

It was again another day of tsunami...

A short position was initiated as the price was trading below the ichimoku kumo cloud. While there was price retracement thereafter, it traded lower gradually.

After weakof jobless claim data at 0830h, price traded significantly lower. However, some support was shown at 1.4410. Price continued to trade in range bound.

Another short position was initiated according to trade plan.

Shortly after, the support at 1.4410 was penetrated.

The joy was short-lived though. A surge of tsuami came along, tenkan-sen cut the jikun-sen instantly, price shot up the ichimoku kumo cloud, stop loss triggered.

No idea on the intervention at this moment.

EURUSD 24 Aug 2011

It was another choppy day.

Price moved upwards after the released of news (US durables ex. transport.) Placed a stop in order for long, got triggered. New high was established. However, there was no strength in the momentum. Price retraced backwards. Half of the position was square off with the remaining being stopped out.

A short position was established accordingly. Similarly, new low was established. However, the joy was short lived. Price retraced upwards. Square off the position when price traded the top of the kumo cloud.

A day with losses.

While ichimoku charting is used as a trend following charting, there is a need to look into the price action established before the market start.

Similarly, the price action that follows through need to further examine if there is need to stay in the trade or stay out of the trade.

EURUSD 23 Aug 2011

Price action was kind of slow initially.

Placed stop in order for short. Short order was triggered later on. Set a target price to close half of the position.

There was price retracement. Thought that could be stop hunting. Placed a technical stop loss to close half of the position. Howevre, it was not triggered. Order removed.

Price moved lower. Reaching my target price. Half of the position closed.

After 1000h, news of new home sales released. Less than forcast. Closed half of the remaining position.

The remaining position was stopped out subsequently.

Good profit for the day.

EURUSD 22 Aug 2011

It was quite a choppy day.

Entered the day with a short position, position was square off as price showed reversal.

Another position was entered to go long. Position was partially square off when price entered the cloud. All position closed out when price traded below the cloud.

A day with loss.

EURUSD 19 august 2011

It was a very slow day.

Entered an order to long. Price triggered stop in long position.

Price was consolidation for hour. Closed the position.

At this moment, the price had moved upwards in favour of the "closed" long position.

Nevertheless, its in the plan to close out the position. There is always another for you to trade.

EURUSD 18 Aug 2011

The day did not start well.

Went long the first trade. Price action reversed. Postion closed out.

Went short accordingly to the trade plan.

Add on short position accordingly.

Price action followed through.

Position stopped out at 2 price level.

Good profit for the day.

EURUSD 17 Aug 2011

Another day of choppiness.
Placed a stop-in order for a short position. Price got triggered. Market turned around and closed out.
Placed a stop-in order for a long position thereafter. Price got triggered. No momentum in the rally. Position closed out.
Ended the day with small losses.

EURUSD 16 August 2011

Entered a long position as the price traded up.

Retracement was significantly more than expected, wind down half of the position prior to stop loss level.

Market moved higher there after. The rally was short lived. Was stopped out eventually.

Ended the day near breakeven.

EURUSD 15 August 2011

Was away for business trip in China for last week.

It was a slow day with not much volatility.

The price was already trading above the cloud. Went long when the price traded up. Some retracement thereafter. The price continued to trend upwards. Closed out half the position initially and closed out the remaining when the price traded below the cloud.

EURUSD 08 Aug 2011

Another good start to the week. Did not trade during the last 3 trading days due to appointments

Placed a stop in order, the price triggered and got into position.

Price action was against the position initially, but turned along with the tide subsequently.

Price continued to lower. Gradually reduced the position and closed out when price went abve the cloud.

EURUSD 02 August 2011

Had a very bad trade.

Increased the short position when the price retraced.

That retracement became a reversal. Was stopped out eventually.

EURUSD 01 Aug 2011

A good week to start with when the price trended.

Went short EURUSD according to the plan. Price movement was very trendy. Closed out the position gradually.

Having said that, its always easier to say when price trended.