20 July 2022 (Trade Example): GBPNZD & EURCAD

 * GBPNZD short trade on 20/7/22:-

- Based on daily & 4 hour timeframe, correlation shows NZD stronger than GBP

- Entry could be made during Asian session around 11:00am

- Update:- trade able to gain profit, depending where you decide to close the trade

* EURCAD short trade on 20/7/22:-

- Based on daily timeframe CAD was stronger than EUR in correlation.

- Entry during London session, around 6:00pm

- Update:- trade able to give profit but depending on where you exit/close your trade.

- I'm hesitate to take this trade even though the setup appear in front of me around 6:30pm time. This due to lack of preparation on this coming trade and I got unprepared for this opportunity.

- Need to close monitor a pair if it appear to have setup so that I not going to miss a profitable trade. Such a waste!.

20 July 2022: AUDUSD

 AUDUSD long trade on 20/7/22

Pre-Analysis:-

- Correlation based on 4 hour timeframe shows AUD stronger than USD. While fundamental sentiment shows both currency are strong. It may pose some risk taking on this trade.

- Entry during Asian session

Post Analysis:-

- I scratch this trade, as I realised that this was not a ready to trade setup.

- It may requires some time to show you some information and reaction on this, thus scratching this trade was the best thing to do.

- Wait for more reaction on the sellers side, if they died then it will be your turn to buy.

19 July 2022: CADJPY

 CADJPY long trade on 19/7/22

Pre-Analysis:-

- Correlation wise CAD stronger than JPY. Fundamental also support CAD as a strong currency.

Post Analysis:-

- Trade ended with loss

- Should not trade this, timing again was wrong. The price on 15 minute chart trap me into very poor position, it enticed me to rush and made an entry. Should be patience. 

- Price eventually went higher during New York session, but I will never get chance to enter as range pattern not develop.

- Alternative trade on AUDJPY long trade. Chart as below:-

18 July 2022: AUDJPY

 AUDJPY long trade on 18/7/22

Pre-Analysis:-

- Correlation wise AUD stronger than JPY. On fundamental sentiment AUD was strong.

- Entry made during New York session.

- This entry I set to take profit at 2R.

Post Analysis:-

- Able to gain small profit.

- Price slowly went up, but this situation give me warning that this trade might not work very well.

- I decided to close the trade and took small profit out of it.

- It pays off, if I let the trade open surely need to take loss as price went down to my stop.

- Alternative trade was a CADJPY long trade, this trade able to give at least 2R profit. Below is the chart for that trade.