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:-

7 Sept 2021 (Trade Example): EURJPY

 Trade example on 7 Sept 2021. EURJPY long trade base on trend pullback and correlation trade.

Correlation:- EURJPY (8 /4)

3 Sept 2021(Trade Sample): NZDCAD (long)

 Trade sample NZDCAD, long trade. Trade base on technical analysis.

2 Sept 2021 (Trade Sample): GBPJPY (long)

 Trade sample on 2 Sept 2021, GBPJPY long trade

Pre-Analysis:-

Correlation:- GBPJPY (7 / 1)

Market Territory:- 

- Trade base on pullback trade.

1 Sept 2021: NZDUSD (long)

 NZDUSD long trade on 1 Sept 2021 base on technical.

Pre-Analysis:-

Correlation:- NZDUSD (10 / 5), NZD stronger than USD

Market Territory:- Buyer's territory

Trading Plan:-

- Wait for pullback and V formation.

- Entry when test hold after V formation.

- Risk for this trade only 0.5% ($ 50) as I try to get another trade on EURAUD for cheese trade.

- I reduce the risk for purpose of spreading it as I am looking at other pair to trade.

Entry:- 0.70476 (8:25pm)

Lot Size:- 0.27

Stop:- 0.70297 (18 pips)

Risk:- 0.5% ($ 50)

Exit:- Previous high or 1R profit

Post Analysis:-

- Trade closed with profit $ 49.68

- Timing was good.

- Improvement on placing the stop loss so that I can increase my RR ratio.

31 August 2021: EURCAD (long trade)

 This is purely technical trade, EURCAD long

- This is base on technical analysis trade.

- Price under buyer's territory, the pullback that came down is for buy.

- Study of sellers from series of lower low until it reach previous breach area.

- Then price show no lower low and form a V formation and wait for test that holding.

Entry:-

- I dissect the entry timeframe to M15 & M3.

- I decided to use session break on NY to time my entry.

- Pullback as seen in M3 timeframe is after price broke NY session.

- I read the pullback / digestion & finally the range appear around NY session opening.

- Stop set at much wider as the is important news pending for CAD (GDP news). This to ensure I able to scratch trade without full risk in case trade not working.

Entry:- 1.48976 (8:23pm)

Lot Size:- 0.38

Stop:- 1.48646 (33 pips)

Risk:- 1% ($100)

Exit:- 1R profit / previous swing high @ 1.49259

Post Analysis:-

- Trade ended with $73.17 profit (0.73R)

- TP ideally at previous swing high & the stop should be set at potential 1R profit.

- Trade base on technical only.

- Alternative entry can be around test price after V formation and this will give higher RR ratio.

- Preparation all good, timing also good but need improvement on exiting the trade.

- If preparation at level of pro trader, this trade can possibly go to 2R profit.

- In my opinion ideal entry point should be at the test after V formation.

 

20 August 2021 (Sample Trade): EURGBP & GBPCHF

 Sample trade that can be taken on 20 August 2021, EURGBP (long trade) & GBPCHF (short trade). Both trade was purely technical trade. One additional information is on news fundamental for GBP, retail sales (mom) (Jul) release bad for GBP (-2.5% / 0.4% / 0.2%). This news release give back-up for both trade that show weakness in GBP

EURGBP (long trade):-

GBPCHF (short trade):-

Note:- I am unable to take this trade as the set-up appear at or after midnight.

18 August 2021: USDJPY (long trade)

 This was a sample trade that can be taken on 18 August 2021. This trade was a pure technical trade.

Pre Analysis:-

Market Territory:- price traded under buyer's territory as shown on the chart below. thus this trade suitable for a long trade.

Trading Plan:-

- price went up aggressive, for entry we need a pullback.

- the pullback shown below.

- entry should be done after V formation & test phase that holding.

Post Analysis:-

- trade will give max 4R profit