12 August 2021: EURAUD (long)

 This was a sample trade that can be taken on 12 August 2021 (EURAUD long trade)

Pre- Analysis:-

Correlation:- EURAUD (10 / 6) , EUR was stronger than AUD

Market State:- price was traded under buyer's territory as shown on the chart below:-

Session Breaks:- EUR pairs group broke the NY / Asia session with strong sentiment (6 pairs)

AUD group of currency broke the NY / Asia session with weak sentiment (4 pairs)

Fundamental:- only EUR has news release on this day with strong sentiment, industrial production (mom, Jun) (-0.3% / -0.2% / -1.1%) but this strong sentiment is with (*). while there was no news release for AUD.

Trading Plan:-

Trade Classification:- B trade (the correlation shows EUR stronger than AUD but it was not significant strong, market state support this long trade, session breaks clearly support EUR. only fundamental news not clearly support this long trade. thus B trade was classified)

Entry:- as usual wait for pullback / digestion

Pullback details:-

- no (1) area shows first pullback, no trade was able to take

- no (2) area was a digestion and it show kind of full digestion (almost get back to the starting point of pullback)

- after full digestion, price unable to go lower

- after an attempt to go lower and failed price made range as shown on no (3) area

- an entry can be made inside the range area & at the opening hour of NY session.

Entry:- 1.59572 (8:06pm)

Stop:- 1.59458 (12 pips stop)

Profit:- trail the profit

Post Analysis:-

- after price move up, 8:30pm stop move to almost half of the risk as shown on line (a). this reduce the risk.

- after price came back to entry level & bounce back up to almost 1R trade, stop move to breakeven.

- 9:15pm price went a little bit higher than 1R trade, profit locked by moving the stop to line (b), at this point no risk involve anymore & if price came back and hit the stop than this trade will out with a little profit. 

- at this moment I felt that this trade might still not working but decided to still give chance if this trade can perform that is why I only lock in some small profit rather than close it all.

- around 10:18pm price reach an about 2R trade decided to close and take profit at roughly 1.59842.

- this trade still can give more than 3R profit as shown on the chart above.

- but how to hold to that trade? this need to be research and mastered.

- as an alternative, instead of closing the trade with 2R profit, you can move the stop to secure 1R profit and let the profit run and only close when the next Asia session about to open. this will give you at least 3R profit.

11 August 2021: NZDJPY (long)

 This was a sample trade that can be taken on 11 August 2021

Pre Analysis:- 

Correlation:- NZDJPY (12 / 2), clearly NZD stronger than JPY

Market State:- NZDJPY traded under buyer's territory as shown on the H1 chart below

Session Breaks:- NZD broke NY / Asia session with strong sentiment (5 pairs)

While JPY also broke NY / Asia session with weak sentiment (6 pairs)

Fundamental:- there was no news release for both NZD and JPY, all news sentiment for both currency considered outdated.

Trading Plan:-

Trade Classification:- B trade

(all 3 element backed for NZDJPY long trade: correlation, market state/territory & session breaks. only fundamental news not back-up this trade, thus a B class trade was classified.)

Entry:- pullback / digestion after session breaks

Pullback:- the first pullback (1) show slow & not aggressive pullback, no (2) pullback unable to make lower low & no 3 pullback also unable to make new low this all line up and show inability of price to go down. after that range appear & forming close to the NY opening time. trade can be enter on the opening hour of NY session as show on the chart above.

Stop:- stop placed under the pullback area that unable to break, this trade should not break that area to see price mark-up higher. stop was 10 pips lower than entry price.

Exit:- trail the profit for max 

Post Analysis:-

- Trade can produce roughly 3.5R profit max.

- Preparation before NY opening hour is very important, it should be done at least 30 minutes before opening market.

10 August 2021: GBPAUD (long trade)

 This was sample trade that can be taken on 10 August 2021

Pre Analysis:-

Correlation:- GBPAUD (10 / 5), GPB stronger than AUD.

Market State:- Price was traded under buyer's territory as shown on the H1 chart

Session Breaks:- GBP broke NY session with strong sentiment (6 pairs)

Fundamental:- There was no news release for either GBP or AUD, all related news consider old release.

Trading Plan:-

Trade Classification:- C trade 

(only session breaks and market state support for this long trade, while correlation is consider tight & news fundamental not support both currency, therefore a C trade was classified)

Entry:- wait for pullback / digestion

-the pullback:- no (1) area broke aggressive, thus no entry at that time. no (2) area also broke aggressive thus no entry either. but suddenly price back up aggressive after it broke no (2) area & create a probe area. after the probe price immediately building a range & I am interested to buy.

Entry: 1.88842 (long) (4:00pm)

Stop: below entry about 10 pips @ 1.88742

Exit: as a C trade aim for 1R outcome & stop move to breakeven immediately after price make some decent move upward.

Post Analysis:-

- entry was good, as entry inside range that building up & price immediately shoot up after entry, this will give confident on this trade.

- stop move at 1R @ 5:52pm, at this time I saw AUD group made strong breaks past Asia session (at time 4 pairs on AUD broke Asia session). this make me feel this trade might take a turn so I need to secure my profit.

- as a C trade the approach is take whatever I can kind of trade.

 

9 August 2021: USDCHF (long trade)

 Pre- Analysis:-

Correlation:- USDCHF (11 / 5), significant strong for USD

Session Break:- USD show strong sentiment by breaking NY session (with 5 pairs).

Market State:- USDCHF traded under buyer territory as shown on chart.

Fundamental:- USD news sentiment very strong as NFP release (943K / 870K / 938K), while unemployment rate was (5.4% / 5.7% / 5.9%). For CHF there was no significant news release. I made conclusion the trade will favor USD ( a long trade).

Trading Plan:-

Trade Classification:- A trade

Entry:- always wait for pullback, after the price broke NY session the pullback came in slowly as shown on H1 chart above and the pullback marked with yellow color. this pullback was a good sign for the price to continue going up after this.

- after a slow pullback, I saw a surge of price went up (shocking area) and it test back but show sign of inability to go down also price forming some soft of consolidation area, I enter the trade after that (as shown on the chart).

- my feeling :- I am confident this trade will work, I calculate the lot size and enter the trade without hesitation.

Entry:- 0.91548 (3:54pm) (2.67 lot) long trade

Stop:-  0.91448 (stop may put tight under entry price for a better RR trade as this is A trade class)

Exit:- exit when equity higher than $ 10,000 ( this trade objective was to salvage my FTMO challenge account)

Post Analysis:-

Exit:- 0.91650 (4:15pm)

Profit:- $ 297.15 (a 1R trade roughly)

- more profit can be generated from this trade as shown below:-

- max of 5.3R trade is possible

- well plan & execution, timing was great after entry price surge up directly.

- for a real trade stops may place a little bit tight under the entry price as this an A trade class.

- focus more on this type & characteristic trade.

- but how to hold the trade longer for bigger profit but at the same time not shacked by the price that came back to hunt for your stop? this need to be mastered. 

- or the other perspective is to enter another trade after price broke Asia session & the entry can be seen somewhere in NY session.