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Gav's trading blog - Perseverance, Consistency, Confidence

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Intraday structure of ASX200 26 Feb 2013

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This is not a trade. I thought it might be helpful to post the intraday chart (5-min) of ASX200 index. If one pays enough attention to the chart, it is not too difficult to draw out the structure in terms of supply, demand zones.

First of all, I assume you have the knowledge to identify supply, demand zones. Support , resistance level is just the cluster of supply demand zones. The basis of this analysis is , price tends to rebound at the demand zone (reverse is true for short side), and the broken level tends to serve the opposite.

Have a look at the 5-minute chart below.

ASX200 M5
ASX200 M5

$USDJPY potential reaction zone 21 Feb 2013

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[tab: Setup 21 Feb 2013]
I am looking at the zone around 92.75 of USDJPY for some reactions. It is a retest of H1, H4 uptrend line and also the base of last spike. Let’s see how it goes.

USDJPY M30
USDJPY M30

[tab: update 22 Feb 2013]

It depends on the buffer you’ve set, or if you leave your order after the 1st rebound, you might have missed the entry by few pips. Annoying, it is. Anyway, here is the updated chart. Price reacted well at the demand zone. now heading to retest the back of inner trend line

USDJPY M30 updated chart
USDJPY M30 updated chart

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$GBPJPY potential reaction zone 20 Feb 2013

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So, big sell off of GBP. There are loads of retracement levels for GBP crosses. I am taking GBPJPY to show potential reaction zone.

M30 – Around 143.90 zone. A retest of previous support turned resistance, with confluence of supply line, and the base of sell off. This zone should provide some reactions.

M30
M30

M5- Detailed look into price action. Expect compression or pattern such as triple tap into reaction zone.

M5
M5

Back Online…moving on

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After spending the whole night working on the website migration, I am happy to say the site is back online now.  However, there are still some bugs caused by the old WordPress plugins which I will need some time to fix it. The most obvious problem is the photos/charts which were posted using Photopress plugin are now missing.

Anyway, I started this blog around 6 years ago, and it was meant to record the progress of myself developing as a trader. A a result, the changing of styles over time can be observed from different blog posts.

I started slowing down posting detailed trades here after turning full time, and more or less find a comfortable trading style that I am comfortable with. Occasionally, I am still throwing some charts here, twitter or tradingview.

It takes a lot of time and effort, and some money to run a blog. And I am seriously considering setting up a private section to keep my detailed trading journal with full pre and post trade analysis, lessons, technique learnt etc. It might be a paid section, or invitation-only section etc. Anyway, everything is still on the drawing board, hopefully I will have a full picture soon.

Moving….

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I am moving the site to a new hosting server over the weekend, so there might be some expected hiccups/down time. Fixing is in progress, and of course, I am working on new content for this site.