GBPCAD short trade on 28/4/22
1 hour chart:-
4 hour chart:-
15 minutes chart:-
29 Apr 2022
28 Apr 2022
Trading Rules
Short Trade Rules:-
In hourly chart
- Price retest at least (rejected) at 2 MA high or 1 MA high and mid BB.
- If retest all 3, (2 MA & mid BB) is even better.
- MA should close to each other.
- Retest should near mid BB.
- Price below mid BB.
In 4 hour chart:-
- All mid BB, MA high, MA low and low BB must be parallel to each other. The wider the distance is better. (it show price got momentum to continue to the down direction).
In 15 minutes chart:-
- This rule is a discretionary.
- Better if high MA is outside the top BB. (not compulsory)\
- Can be a candlestick formation like shooting star, hanging man, engulfing. (it must very near or touch top BB).
- Show some failure to penetrate top BB.
Entry:-
- If all criteria is there, then entry can be set at 1 pip lower than the lowest point of retest bar in hourly chart.
27 Apr 2022: GBPUSD
GBPUSD short trade on 27/4/22
Hourly chart:-
4 hour chart:-
15 minutes chart:-
Post Analysis:-
- Trade ended with loss.
- But price did dropped.
- Price seem to hit my stop before dropped.
- I closed trade before hit my stop, so the risk was reduced.
- I need to work on timing issue, the direction is something that I can determine correct but timing is still an issue.
26 Apr 2022
26 Apr 2022 (Trade Example): GBPCAD
GBPCAD short trade on 26/4/22 based on BBMA trade.
Update:-
- Trade has potential of 4.23R profit.
22 Apr 2022
21 Apr 2022
20 Apr 2022 (Trade Example): USDCAD & CADCHF
USDCAD short trade on 20/4/22 based on BBMA trade.
- Possible short setup
- Entry @ 1.26068 (20/4/22, 10:00am)
- SL @ 1.2627 (21 pips)
CADCHF long trade on 20/4/22 based on BBMA trade
- Possible long setup.
- Entry @ 1.75506 (20/4/22, 8:00pm)
- SL @ 1.7537 (13 pips)
19 Apr 2022
19 Apr 2022: AUDJPY
AUDJPY long trade on 19/4/22 based on VSA
Pre-Analysis:-
- AUDJPY in uptrend. The pair also in trend alignment for daily, 4 hour & hourly timeframe.
- Correlation also support this trade as JPY was the weakest currency.
- Plan to take profit at the previous high (resistance area), price already move up significantly and may correct deeply.
Entry:-
Post Analysis:-
- I closed the trade as planned, profit took at previous high.
- I decided so because I think this move already a secondary move before deep correction happen.
- Price in actual move higher a little bit and reach max profit of 3R.
- After that price retrace and could hit trailing stop loss if I used it. The amount was approx the same as my exit point.
18 Apr 2022 (Trade Example): CADJPY
CADJPY long trade available on 18/4/22. Trade based on VSA.
- Trend alignment established on daily, 4 hour & hourly timeframe.
- Correlation also support this trade. CAD was in the second strongest currency while JPY in the weakest currency.
- Update (20/4/22)
- This trade able to give 10R profit.
- I missed again.
18 Apr 2022: EURAUD
EURAUD long trade on 18/4/22 based on BBMA trade.
Pre-Analysis:-
- There was a signal for price to continue go up.
- Waiting for retest that failed to breach MA & Mid BB.
Entry:-
Post Analysis:-
- Trade closed with loss.
- Loss has been reduced a little bit, as I moved stop a little higher.
- One element was missing, I did not check whether 4 hour chart has same retest at MA.
- The rules are: 1 hour chart retest that failed to breach MA & Mid BB, 4 hour chart it need to touch MA (retest MA).
- I did not follow this rules, I broke the rules.
- Below is trade that follow both rules and it can give me huge profit.
17 Apr 2022
15 Apr 2022: AUDCHF
AUDCHF long trade on 15/4/22
Pre-Analysis:-
- Trend shows this pair was in uptrend.
- Correlation however not in the group of the strongest nor the weakest currency. Hence I decided to reduce the risk to only 0.5% of account balance.
- I decided to still took the trade as I am lack of decent trade along this week.
Entry:-
Post Analysis:-
- I closed the trade with loss.
- This trading day in public holiday (Good Friday), banks mainly closed business therefore liquidity was very low, no active activity in the market.
- Spread also widen a little bit compare to normal business day.
- Lesson, never trade if public holiday impact the amount of activity in the market, market will not move on the absent of big banks.
12 Apr 2022
11 Apr 2022: AUDJPY
AUDJPY long trade on 11/4/22
Pre-Analysis:-
- Price trending up with correlation also shows AUD was the strongest currency. This entry based on pullback and supported by VSA principle.
Entry:-
Post Analysis:-
- Trade closed with loss. However I managed to reduce it loses
- It was not good to loose.
Update:-
- There was a trade that can give possible profit on CADJPY for long trade.
- Setup was appeared early on Asia session, that mean before AUDJPY setup.
- I missed this trade as I need to settle other things on the morning and unable to monitor the market.
- This trade able to give 1R profit.
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