29 Sept 2021 (Trade Example): NZDUSD

 Trade example NZDUSD short trade.

- Trade has potential to give 5.85R profit.

- Trade also performed smoothly from the beginning.

- I was stuck with unproductive task of handling parcel for delivery. The time of entry at around 5:30pm I was on the way to wait for delivery guy.

- Time has been wasted and very good trade was missed. WHAT A LOSS!!!

28 Sept 2021: GBPUSD

 GBPUSD long trade base on Wyckoff VSA principle.

Pre-Analysis:-

- Climactic volume appear as shown on the chart.

- Price broke higher than wide spread bar.

- Pullback happen, entry can be taken on no supply setup.

Entry:-

- The no supply (ns) bar appear 2 times.

- First bar the test was failed

- Second bar also the test failed.

- Entry made base on assumption that effort (ef) as the hint that price might go higher.

Post Analysis:-

- Assumption of effort bar (ef) as hint was wrong.

- Price attempt to go high but eventually went back.

- I was lucky to close trade with small profit.

- Never assume anything, stick to pre-define setup, in this case success test after no supply (ns) bar.

- If test failed than take no trade, stay aside.

27 Sept 2021: GBPNZD

 GBPNZD long trade base on Wyckoff VSA principle.

Pre-Analysis:-

- Climactic volume & wide spread bar as marked with arrow.

- Price broke high of wide spread bar 2 times. 2nd time it test high of wide spread bar.

- Price hold at high of wide spread bar.

- Entry could be at no supply bar that show success test.

Entry:-

- No supply bar with success test appear, entry after success test bar.

- Entry price: 1.94802

- Time: 1:00pm

- Position Size: 0.47

- Risk: 1% 

- Stop: 1.94592 (21 pips)

Post Analysis:-

- Exit at 1.95476 (4:35pm) (67 pips)

- Roughly 3.19R profit

- Exit made out of fear, fear of price might drop back.

- Proper exit need to be execute. No indicator sign of weakness appear therefore trade should not close at that time.

- Should trade be carry foreword potential of 4.77R profit can be made.

 

24 Sept 2021 (Trade Example): NZDCAD

 NZDCAD long trade base on Wyckoff  VSA principle.

Pre- Analysis:-

- Uptrust (sign of weakness) with very high volume as shown with red arrow mark.

- Price broke low of uptrust bar and confirm the weakness.

- Pullback happen, price move up to low of uptrust bar.

Entry:-

- Entry with no demand bar.

- Confirm no demand bar with change of behaviour to downside

- Stop maybe be place right above no demand bar.

- Profit can be trail for max.

Post Analysis:-

23 Sept 2021 (Trade Example): CHFJPY

 Trade example, CHFJPY (long trade) base on Wyckoff VSA principle.

- Background sign of strength as confirm by price broke high of climactic bar as marked with red arrow.

- Price broke climactic bar by effort bar (ef) then immediately test back the high level of climactic bar.

- Price test MA and no supply bar (ns) appear.

- As test of no supply (ns) success, then entry can be made

- Profit of max 3.94R

Below is other example with EURJPY & GBPCAD

EURJPY (long trade)

- This set up almost similar to CHFJPY

- The only different could be trade management. Notice price came back to entry level. If stop move to breakeven then it will close.

- There was another entry spot as marked with arrow (1).

GBPCAD (short trade)

 

20 Sept 2021: AUDNZD

 AUDNZD short trade base on cheese trade.

Pre-Analysis:-

Session Breaks Strength:- AUDNZD (-6 / 0). NZD looks like a neutral currency.

Fundamental:- NZD has news event that show strength from last week.

Trading Plan:-

Trade Classification:- C trade

(NZD looks neutral and news event is from last week data, therefore this trade is C class.)

- Digestion:-

- As C trade I target only 1R profit.

- Risk 1% ($100)

Post Analysis:-

- I scratch this trade as it did not work. But the loss not touch my original stop. (less loss)

- Here where the situation of BRAIN BEEN HIJACKED. My thought only seen this pair only, while there was another pair that set-up better than this.

- Need to scan all pair, it is a must so that I can make comparison between all pairs and choose the best pair to trade.

- Below is NZDCAD for long trade that perform and give huge profit.

17 Sept 2021 (Trade Example): AUDNZD

 AUDNZD long trade base on cheese trade.

Pre Analysis:-

Session Breaks Strength:- AUDNZD (+6 / -2)

Fundamental:- News event show AUD weaker than NZD. This may give conflict as session breaks show AUD stronger than NZD.

Trading Plan:-

Trade Classification:- C trade

- As C trade class, take profit at 1R only.

Post Analysis:-

- This trade able to give max 1.09R profit.

- Type C trade should be taken with extra careful. Look at price after hit 1R, it drops significantly.

- Need very close monitoring for this kind of trade.

- If no other choice of trade available, then this trade could be alternative.

16 Sept 2021 (Trade Example): AUDNZD

 Trade example on 16 Sept 2021, AUDNZD short trade base on cheese trade.

Pre-Analysis:-

Session Breaks Strength:- AUDNZD (-2 / +6)

Fundamental:- News event for NZD show strength, GDP q/q (2.8% / 1.1% / 1.4%). For AUD news show weakness.

Trading Plan:-

Trade Classification:- A trade

- Wait for digestion, inability for price to go up & finally range that forming close to market opening Frankfurt / London.

- Reminder, reading digestion must from M15 timeframe.

Post Analysis:-

- Max profit 2.33R

- Trade smoothly went to intended target of 2R.

- As a reminder please make prep sharp, at least 30 minute before Frankfurt opening.

15 Sept 2021 (Trade Example): AUDJPY

 AUDJPY short trade base on cheese trade

Pre-Analysis:-

Session Breaks Strength: Trade (1) AUDJPY (-2 / +6), trade (2) AUDJPY (-2 / +7)

Fundamental:- no news event for both currencies.

Trading Plan:-

Trade Classification:- B trade

Trade (1) entry:-

Post Analysis:-

- In real trade please don't read digestion from M3 timeframe, read from M15 timeframe. Slow down or finish of digestion must be seen on M15 timeframe.

- Trade (1) is totally wrong from point of reading digestion.

- Look that trade took out your stop then finally went down

- Trade (2) is the correct spot to enter, after digestion and inability for price to go up then range forming.

- Max profit for trade (2) 2.66R

14 Sept 2021 (Trade Example): GBPJPY (long trade)

 GBPJPY long trade base on pullback & correlation

Pre-Analysis:-

Correlation:- GBPJPY (13 / 5), clearly GBP stronger than JPY.

Market Territory:- Buyers

Trading Plan:-

Post Analysis:-

- Max profit 1.99R

- The real problem is how to exit trade for profit / max profit.

- If take profit at previous swing high, then profit will be around 1R only.

- If let the market play then when to actually closed it.

- After touch the previous high, price try twice to go up but failed.

- I if wait longer, then look at what price did, it plunge lower.

- Therefore I need to plan carefully for exit.

13 Sept 2021 (Trade Example): NZDCHF (long)

 Trade example NZDCHF (long trade). Trade base on pullback & correlation.

Pre-Analysis:-

Correlation:- NZDCHF (11 / 4), suitable for long trade.

Market State:- Buyer's territory

Trading Plan:-

- Read pullback carefully. 

- Wait for V formation & test after that

- If test show it can hold than entry maybe taken from there. Another thing is market opening hour, trade best taken when market active.

Post Analysis:-

- Trade achieve max profit of 2.09R

- In the actual trade, the challenges came from exiting trade. Should I close the trade at recent high or wait to see if price can break the high?

- For my FTMO challenge account I have set that profit will be taken at 2R. I should follow the plan. 

- Timing for this trade was good.

10 Sept 2021 (Trade Example): NZDUSD

 NZDUSD long trade base on trend pullback & correlation.

Pre-Analysis:-

Correlation:- NZDUSD (11 / 6) NZD stronger than USD

Market under buyer's territory

Trading Plan:-

- Read the pullback

- Wait for sellers to die

- Wait for V formation & test set-up

- Entry after test that holding.

Post Analysis:-

9 Sept 2021 (Trade Example): GBPCAD

 This is trade example on 9 Sept 2021. GBPCAD long trade.

Pre-Analysis:-

Session Breaks Strength:- GBPCAD (+5 / -6)

Fundamental:- no news event for both GBP & CAD

Trading Plan:-

Trade Classification:- B trade

Pullback details:-

- Price down at one time before surge up aggressive as marked with (A).

- After price up at (A), then sellers tried a few times to push down but failed.

- Then came close to NY session, entry could be taken.

Post Analysis:-

- This trade did not work.

- If this trade is real, then it need to be manage carefully.

- There was an attempt to go higher but failed.

- After price failed to go higher, trade need monitoring. Decision should be made to close the trade when price return to original entry price & breach it lower.

- Trade can be close at half of the risk taken.

- The worse case scenario, trade will hit stop level.

- Did I read it wrong for this trade?

8 Sept 2021 (Trade Example): USDCAD (long)

 USDCAD long trade on 8 Sept. 2021, base on cheese trade.

Pre-Analysis:-

Session Breaks Strength:- USDCAD (+4 / -6)

Fundamental:- no news event for USD, CAD pending interest rate announcement.

Trading Plan:-

Trade Classification:- B trade

Pullback / digestion:-

- Pullback came in very slow which is good.

- Spike happen after release of interest rate news for CAD.

- Spike as probably because not enough seller for buyers to lift price up.

- This spike could be good spot for entry.

Post Analysis:-

- Spike is good spot for entry but need to align with context.

- In this example the context was after price broke Asia session than pullback that happen very slow, this show buyers maybe in control.

- Pullback is needed for better entry price rather than entry after break of session, concept of discount.

- Max profit 3.91R

- I did not take this trade as I am waiting for my repeat challenge of FTMO account. I passed all criteria except for total profit therefore I am entitle for free repeat of challenge.

- Next challenge will be my 6th time.