USDCHF long trade on 28/4/23
Pre-Analysis
Entry
- Time of entry 2:00pm
- Risk: 0.25%
- Exit plan: trailing stop, see if price can break yesterday high.
Post Analysis
- Stop loss.
28 Apr 2023
27 Apr 2023 (Trade Example): CADCHF
CADCHF long trade on 27/4/23
- Time of entry 7:15pm
- Note: there was another pair, USDCHF with long trade setup but it was safe to choose CADCHF in my opinion as USD waiting for important news release at 8:30pm.
17 Apr 2023
17 Apr. 2023: USDCHF
USDCHF long trade on 17/4/23
Pre-Analysis
- Possible set up of absorption volume. With USD currency shows strength and CHF currency show weakness.
Entry
- Time of entry 7:15pm
- Risk 0.25%
- Exit plan, TP when sign of weakness appears in hourly chart.
Post Analysis
- This time I search high and low for a possible better pair to trade. I checked every single currency chart to see their strength or weakness and from there I picked the most relevant pair to trade.
- I waited for the confirmation indicator to arrive before making this trade. Although at the beginning price went down slightly but I hold to my trade thinking this might have a chance to perform.
- The analysis done with all consideration I could read, the buyers that push the price higher from a decline and also the inability of sellers to push down price further.
- On technical chart, I waited until price touch the trendline before I made a standby mode and waited for a confirmation indicator.
- This whole process should be my template of every trade.
- Price at the end of trading day
12 Apr 2023
12 Apr 2023: AUDCHF
AUDCHF long trade on 12/4/23
Pre-Analysis
Entry
- Entry time 2:00pm
- Risk 0.25%
- Exit plan, first TP @ 0.608 for approx. 1.64R
Post Analysis
- Loss with full risk
- Will ignore this discretion trade and confirmation indicator of SOS 133: strength coming in.
- Focus only on indicators test, no supply and shakeout for a long trade.
- Price after I got stop out.
8 Apr 2023
7 Apr 2023 (Trade Example): USDCAD & GBPUSD
USD long trade and GBPUSD short trade on 7/4/23
- Entry time 4:15pm
- Entry time 6:45pm
6 Apr 2023
6 Apr 2023: AUDCAD
AUDCAD short trade on 6/4/23
Pre-Analysis
Entry
- Time of entry 8:45pm
- Risk 0.25%
- Exit plan, TP @ 0.894 approx. 2.85R
Post Analysis
- Trade closed at breakeven. Price went down to max. 1.24R but I did not exit and went back up again.
- I did not plan for another scenario which is what am I going to do if price did not break first support at 0.8990 level.
- Should I exit when that level did not cut through? and gain more than just breakeven at least.
- I started to feel good with the selection process to enter the trade but find it struggle to exit.
- Which level should I exit? or should I fix the exit level? how much gain should I target?
- Those questions need to examine and will be my guide to make a solid exit plan.
- Extra note: I choose this pair as no other pairs got trade set up although this trade reward was less than 1R.
- Price chart when I closed trade: -
5 Apr 2023 (Trade Example): USDCAD
USDCAD long trade on 5/4/23
- This was a discretion trade as the confirmation indicator not in trading plan (test, no supply or shakeout). The indicator was SOS 133: Strength coming in.
- Entry time 2:00pm
- Max profit 4.74R
- Update: - another trade that appeared on 5/4/23 was AUDCAD short trade.
5 Apr 2023
4 Apr 2023: CADCHF
CADCHF short trade on 4/4/23
Pre-Analysis
Entry
- Entry time 5:00pm
- Risk 0.25%
- Exit plan, TP around 3R profit.
Post Analysis
- Trade lost, with full risk.
- There is some additional rule I want to add, I will refer to volume from 2 platform the MT4 and TradingView. If both platforms give climactic volume, then those pair will include in watchlist.
- In this case volume on TradingView was not a climactic volume, it should not include in watchlist.
- But the price went down smoothly after hitting my stop.
4 Apr 2023
3 Apr 2023 (Trade Example): AUDCAD
AUDCAD long trade on 3/4/23
- This was a discretional trade, as no confirmation as test, no supply or shakeout indicators according to trading plan. But SOS appear in the area of buying was climactic action & stopping volume. This trade can be considered in the future.
- Entry time 2:45pm
- Note: trade performed well and able to give very good profit. I missed this trade again.
2 Apr 2023
31 Mar 2023 (Trade Example): EURCAD
EURCAD short trade on 31/3/23
- Entry time 9:15pm
- Max profit 2.9R
31 Mar 2023 (Trade Example): NZDCAD
NZDCAD short trade on 31/3/23
- Entry time 5:45pm
- Max profit 4.0R
31 Mar 2023 (Trade Example): AUDCHF
AUDCHF short trade on 31/3/23
- Entry time 2:15pm
- Max profit 3.48R
30 Mar 2023 (Trade Example): EURJPY
EURJPY long trade on 30/3/23
- Entry time 7:45pm
- Max profit 5.94R
Subscribe to:
Posts (Atom)