23 Jan 2025: EURCAD

 EURCAD long trade on 23/1/25

Pre-Analysis:

- Trade based on trend pullback.

- Currency strength EUR = +4, CAD = -4

- Risk $10, target at 2R.

Entry:

- Entry time 9:40pm (New York session)

- Immediate strength meter 

Post Analysis:

- Another scratch trade.

- This was a FOMO trade.

- Immediate strength meter also not at the required level.

- I believe my understanding of trend pullback concept still not there. There was no 'deal' in this trade. I myself label it as a 'deal' while in actuality was not.

- I may change to look for a 'deal' from daily timeframe. As now Urban Forex has their market analysis session every Monday, I will take their input to find my trade setup.

- Will also abandon calculate for strength meter, but will focus on the flow of market and correlation.

- In mean time, I will trade also my scalping trading system with always target 1R profit.

- Update (28/1/25), price did went up starting on 24/1/25 and only able to make slightly new high until 25/1/25.

19 Nov 2024: EURCAD

 EURCAD short trade on 19/11/24

Pre-Analysis:

- Trade based on trend pullback using H4 timeframe.

- Strength meter shown equally strength between EUR and CAD currency. 

- This made trade should only focus for a quick profits of any and should not be hold for a new low.

- Full watchlist of this day:-

* Buy: EURCAD (counter trend)

* Sell: EURCAD

CADCHF & CADJPY (counter trend)

- EURCAD was in both buy and sell watchlist, this trade need to trade with very extra careful.

- Strength meter of that day:-

Entry:

- Entry time 4:02pm

- Immediate strength meter:-

- I set a 2R profit target, stick to my plan.

Post Analysis:

- Got profits smoothly.

- Good execution.

- This trade can be consider to take profit at previous low. But as I am sticking to my plan, 2R profits consider acceptable.

- Mentally prepared to accept if this trade not working out.

- Update (23/11/24): trade able to reach max 15R profits at the end of trading week. Price drop to the low until 1.44855 level.

30 Oct 2024 (Trade Example): EURCAD

 EURCAD long trade on 30/10/24

- Trade based on H4 timeframe.

- Note: I unaware of this setup, need to check all pairs thoroughly, don't missed!

26 Feb 2024 (Trade Example): EURCAD

 EURCAD long trade on 26/2/24

- Correlation

- Entry time @ 3:05pm

19 May 2023 (Trade Example): EURCAD

 EURCAD long trade on 19/5/23

- Entry time 2:00pm

5 May 2023 (Trade Example): EURCAD

 EURCAD short trade on 5/5/23

- Entry time 3:15pm

- Note: yet again I missed this trade. I spot the weakness in EUR group but only look and consider EURJPY, EURCHF and EURNZD for a short trade. I did not look into this EURCAD until the trade performed then, realised I have missed this trade.

1 May 2023 (Trade Example): EURCAD

 EURCAD short trade on 1/5/23

- Entry time 10:00pm

31 Mar 2023 (Trade Example): EURCAD

EURCAD short trade on 31/3/23

- Entry time 9:15pm

- Max profit 2.9R

 

31 Jan 2023: EURCAD

 EURCAD long trade on 31/1/23

Pre-Analysis

- CAD currency correlation. But this still not showing any clear information on CAD weakness.

Entry

- Time of entry 5:04pm

- Risk 0.25%

- Exit plan: TP at recent high, Stop at max 0.25% of account balance loss.

Post Analysis

- Finally scratch the trade.

- Exit with miniscule profit.

- No support of correlation.

- No sign of technical indicator to support this entry.

- Overall ok with trade management. Avoid loss this time.

- Price level after I exit the trade

- I found another pair EURGBP for long trade that has success. Chart on another journal post.

5 Dec 2022: EURCAD

 EURCAD long trade on 5/12/22

Pre-Analysis:-

- EURCAD on uptrend referring to higher time frame (D1 & H4).

- VSA chart show sign of strength (SOS) in M15 timeframe.

Entry:-

- Entry time 8:45pm

- Risk 0.25%

- Trade class: B trade (SOS with confirmation and got change in behaviour)

- Note on risk, for B trade I suppose to take a trade with 0.5% but this time I reduced it as previous trade (AUDUSD long) suffered with full loss of risk.

Post Analysis:-

- I closed trade with profits. (2.73R)

- Time of exit 5:30am (6/12/22)

- Look at what happen to my emotion and fear, as previous trade I lost then for this trade I decided to change risk taking to only 0.25% instead of 0.5%.

- This emotion resulting from the unnecessary lost made me missed larger profits. If I took this trade as per usual 0.5% (B trade), then my profits will be 1.365% of my account balance.

- With reduced risk I manage to get only 0.6825% increase out of account balance.

- What a missed still. High performance trader might consider this as a loss as well.

- Update:- as at around 5:00pm (7/12/22) this is how EURCAD perform

27 Oct 2022 (Trade Example): EURCAD

 EURCAD short trade on 27/10/22

- Trade based on retest of daily timeframe resistance and indication of ultra high volume.

- Resistance on daily time frame

- Ultra high volume on wide spread bar closing in the middle, this shows sign of weakness.

-VSA chart

- Entry

- Entry time 8:25pm

- This trade also in the effect of news event, EUR refinancing rate which was released on 8:15pm.

- 10 minutes after news release, price shown clear direction of the market as the background indicate weakness.

18 Aug 2022 (Trade Example): EURCAD

 EURCAD short trade on 18/8/22

- EUR currency shows weakness as all it pairs broke Asian trading session. The only factor that may prevent this trade to work was correlation meter as CAD only slightly strong compared to EUR. In this case if I still want to trade, then my target should be at 1R only.

- Trade during London session, approx. entry time 9:25pm

- Trade able to achieve 1R profits.

- Overall profits could be more than 2R.

26 July 2022 (Trade Example): EURCAD

 EURCAD short trade on 26/7/22

- EUR was the weakest currency compared to CAD according to correlation. Time of entry approx. 4:00pm (London session). Trade able to give 2R profit. Reason of missing, time concentrate on GBPAUD short trade but in term of correlation both GBP and AUD seem in equal strength.

20 July 2022 (Trade Example): GBPNZD & EURCAD

 * GBPNZD short trade on 20/7/22:-

- Based on daily & 4 hour timeframe, correlation shows NZD stronger than GBP

- Entry could be made during Asian session around 11:00am

- Update:- trade able to gain profit, depending where you decide to close the trade

* EURCAD short trade on 20/7/22:-

- Based on daily timeframe CAD was stronger than EUR in correlation.

- Entry during London session, around 6:00pm

- Update:- trade able to give profit but depending on where you exit/close your trade.

- I'm hesitate to take this trade even though the setup appear in front of me around 6:30pm time. This due to lack of preparation on this coming trade and I got unprepared for this opportunity.

- Need to close monitor a pair if it appear to have setup so that I not going to miss a profitable trade. Such a waste!.