16 Sept 2021 (Trade Example): AUDNZD

 Trade example on 16 Sept 2021, AUDNZD short trade base on cheese trade.

Pre-Analysis:-

Session Breaks Strength:- AUDNZD (-2 / +6)

Fundamental:- News event for NZD show strength, GDP q/q (2.8% / 1.1% / 1.4%). For AUD news show weakness.

Trading Plan:-

Trade Classification:- A trade

- Wait for digestion, inability for price to go up & finally range that forming close to market opening Frankfurt / London.

- Reminder, reading digestion must from M15 timeframe.

Post Analysis:-

- Max profit 2.33R

- Trade smoothly went to intended target of 2R.

- As a reminder please make prep sharp, at least 30 minute before Frankfurt opening.

15 Sept 2021 (Trade Example): AUDJPY

 AUDJPY short trade base on cheese trade

Pre-Analysis:-

Session Breaks Strength: Trade (1) AUDJPY (-2 / +6), trade (2) AUDJPY (-2 / +7)

Fundamental:- no news event for both currencies.

Trading Plan:-

Trade Classification:- B trade

Trade (1) entry:-

Post Analysis:-

- In real trade please don't read digestion from M3 timeframe, read from M15 timeframe. Slow down or finish of digestion must be seen on M15 timeframe.

- Trade (1) is totally wrong from point of reading digestion.

- Look that trade took out your stop then finally went down

- Trade (2) is the correct spot to enter, after digestion and inability for price to go up then range forming.

- Max profit for trade (2) 2.66R

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.