2 Sept 2021: AUDUSD (long trade)

 AUDUSD long trade (cheese trade)

Pre-Analysis:-

Session Breaks Strength: AUDUSD (+7 / -5)

Fundamental:- For AUD there is good news release on GDP and for today trade balance (Jul) release show very good result (12.117B / 10.200B / 10.496B). While for USD news was not good, ADP Nonfarm Employment Change (374K / 613K / 326K)

Trading Plan:-

Trade Classification:- A trade

(strength no. good & support by fundamental, therefore I class this trade as A)

Entry:- 0.73882 (4:51pm)

Lot Size:- 0.83

Stop:- 0.73762 (12 pips)

Risk:- 1% ($ 100)

Exit: set at 2R profit

Post Analysis:-

- I am confident when this set up appear.

- Look back at entry point, am I enter early?

- Before this trade take off, 3 times price came back down.

- This drop may shake your confident whether this trade will work or not.

- I put my faith on this trade as I rate it A class. I gave chance  although price hovering around until NY session.

- During NY session, then price really took off.

- I close trade while still not achieve my exit plan (2R) as I saw price struggle to push higher.

- Price did not reach my 2R profit until end of NY session.

- Should I tighten my stop a little bit because of A class trade?. This will increase my RR ratio.

 

1 Sept 2021 (Sample Trade): EURAUD (short)

 This is sample trade that can be taken on 1 Sept 2021. EURAUD short trade. This is a cheese trade.

Pre-Analysis:-

Session Breaks Strength Number:- EURAUD (+4 / +7)

Fundamental:-  EUR got good release on unemployment rate (7.6% / 7.6% / 7.8%). For AUD news also good according to GDP release (YoY) (Q2) (9.6% / 9.2% / 1.3%). Both currencies have good result.

Trading Plan:-

Trade Classification:- C trade

(the strength number consider tight & fundamental show good release. therefor I rate this trade as C)

Post Analysis:-

- I purposely record this sample to how a C class trade that did not perform.

- Although it has set up but strength number and fundamental did not show any favor to either currency.

- This C trade should be manage carefully.

- Max profit around 0.85R only for the entire day.

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.