17 May 2022 (Trade Example): GBPCHF

GBPCHF long trade on 17/05/22

- Hourly chart

- Entry time 12:00 midnight 

- Risk (23 pips stop) 0.4% of the account balance

- Support by 2 others timeframe:-

 

Update:-

- Trade able to close with good profit

- Possible to give max 6.2R profit (143 pips TP & 23 pips SL)

28 Apr 2022 (Trade Example): GBPCAD

 GBPCAD short trade on 28/4/22

1 hour chart:-

4 hour chart:-

15 minutes chart:-

Trading Rules

 Short Trade Rules:-

In hourly chart

- Price retest at least (rejected) at 2 MA high or 1 MA high and mid BB.

- If retest all 3, (2 MA & mid BB) is even better.

- MA should close to each other.

- Retest should near mid BB.

- Price below mid BB.

In 4 hour chart:-

- All mid BB, MA high, MA low and low BB must be parallel to each other. The wider the distance is better. (it show price got momentum to continue to the down direction).

In 15 minutes chart:-

- This rule is a discretionary.

- Better if high MA is outside the top BB. (not compulsory)\

- Can be a candlestick formation like shooting star, hanging man, engulfing. (it must very near or touch top BB).

- Show some failure to penetrate top BB.

Entry:-

- If all criteria is there, then entry can be set at 1 pip lower than the lowest point of retest bar in hourly chart.

27 Apr 2022: GBPUSD

 GBPUSD short trade on 27/4/22

Hourly chart:-

4 hour chart:-

15 minutes chart:-

Post Analysis:-

- Trade ended with loss.

- But price did dropped.

- Price seem to hit my stop before dropped.

- I closed trade before hit my stop, so the risk was reduced.

- I need to work on timing issue, the direction is something that I can determine correct but timing is still an issue.