16 Nov 2021: GBPUSD

 GBPUSD short trade on 16 Nov 2021

Pre Analysis:-

- GBPUSD on hourly chart shows downtrend.

- On pullback there was a sign of weakness, upthrust with high volume.

- Wait for further sign of weakness on 15 minutes chart for entry.

Entry:-

- Price drop below upthrust bar and pullback after that.

- Finally a no demand bar appear and entry made just below of that bar

- Entry:-

Time: 9:30am

Lot Size: 1 lot

Risk: 1% ($100)

Stop: 1.34289

- Trade also in conjunction with trending system chart that show downtrend.

Post Analysis:-

- Trade end up loss $100 (hit stop)

- There is a question whether that true no demand bar?, what is no demand bar?

- The next bar after that no demand bar not close lower than it, can it be taken as true no demand?

- Certainly I need TradeGuider software. Look like I am guessing all the indicator in TradeGuider.

- I have to make sure I can afford to purchase the software as soon as possible, it will help me a lot with my trading.

15 Nov 2021: NZDCAD

 NZDCAD long trade on 15 Nov. 2021

Pre Analysis:-

- Possible sign of strength at the bottom of chart as shown above. This is hourly chart.

- Price went up above trigger number and hovering there since previous 2 trading day.

- Plan to go long for this with further sign of strength possibly on 15 minutes chart.

Entry:-

- There was a test on down bar with low volume. The test was successful and price still above trigger number.

- This also supported by trending system chart that shows an uptrend.

- Time of entry : (3:41pm)

- Position Size: 1.39 lot

- Risk: 1% ($100)

- Target: 0.8859 (approx. 2R)

Post Analysis:-

- Trade went up as expected.

- Max potential profit 2.88R

- My profit was $153.06

- I did not wait until trade hit my pre define target as I want to lock all profit to ease some pressure of previous drawdown.

- Trading is pressuring business, I admit it.

12 Nov 2021 (Trade Example): EURCAD

 EURCAD short trade 

- EURCAD now reach an area of previous sign of weakness, if price unable to penetrate that trigger number it may fall.

- I hesitate to consider this as there was a sign of strength below as marked by blue arrow no (2).

- I was confused at that day whether to take sign of strength or sign of weakness.

- Entry for a short trade as shown above. The reason was an upthrust bar appear and it supported by a down trend as shown on the trending system chart below.

- The reason why I did not take this trade was I confused on both sign of weakness and sign of strength appear both one at the top another at the bottom.

- This made me stay aside.

- However this short trade can give profit around 4.58R max.

- I should keep an open mind the short trade still can happen on previous trigger number from weakness.

  

11 Nov 2021: AUDJPY

 AUDJPY short trade on 11 Nov. 2021

Pre-Analysis:-

- AUDJPY on a downtrend mode.

- Pullback started on 10 Nov. 2021

- Weakness appear probably no result from effort sign.

- Price broke below the trigger bar as shown on the chart.

- Wait for pullback toward the trigger bar and further sign of strength on 15 minutes chart.

Entry:-

- Entry on no demand bar (approx. 2 pips below)

- Time of entry 10:20am

- Risk 1% out of account balance

- Target at 83.00 (roughly 3R profit)

- Trending system also show downtrend (as seen on the chart below)

Post Analysis:-

- Update, at 4:00pm the trend system still show downtrend. I decided to hold onto the trade.

Update:- (12/11/21)

- Trade finally close for $161.80 profit at 6:08pm (11/11/21)/

- This trade I took with confident.

- I saw the no demand setup after breakfast, and continue to monitor for entry.

- At around 6:00pm I feel that this price may not drop any further and decided to close the trade without wait for my original profit target.

- This prove to be correct decision as price did not move much until the next day.

- I will revert back to take profit at 2R for the next trade until I reach profit target of 10% from original account value to pass this FTMO challenge.

- This trade also cover entire loss of my previous trade.