Sample trade that can be taken on 13 August 2021.
Pre Analysis:-
Correlation: GBPCHF (2 / 10), significant CHF strong compared to GBP
Market State:- price traded under seller's territory as shown on the H1 chart
Session Breaks:- CHF currency broke Asia session with strong sentiment (7 pairs).
Fundamental:- news release for CHF was good, PPI (mom) 0.5% compared to previous release was 0.3%. while for GBP there was no latest release,
Trade classification: A trade (all factors correlation, market state, session breaks and fundamental support this trade, GBPCHF, long. thus an A class trade classified.)
Entry:-
Pullback details:-
- no (1) area show an aggressive pullback.
- after no (1) pullback price continue to go up at no (2) area.
- immediately after go up (2) price drop back aggressive.
- after price drop it try once again to go up but failed and also drop aggressive again.
- after that drop, price form a range & entry can be taken inside of that range.
Stop:- in this case 9 pips above entry price, this supported by the fact that this trade is A class trade so the stop can be tight. this also show confident that this trade will works.
Exit:- trail the max profit .
Post Analysis:-
- max profit of nearly 3R
- 10:15pm reduce risk to half
- 10:55pm closed trade with approx. 3R profit