30 Mar 2023

30 Mar 2023 (Trade Example): GBPNZD

 GBPNZD short trade on 30/3/23

- Scalping trade in 5-minute chart.


- Entry time 1:20pm
- Max profit 4.95R




29 Mar 2023

29 Mar 2023: EURUSD

 EURUSD long trade on 29/3/23

Pre-Analysis

- Trend alignment to the upside for daily. 4 hour & 1 hour timeframe. In 15-minute timeframe there was SOS appeared with ultra-high volume.



Entry

- Time of entry 5:15pm
- Risk 0.25%
- Exit plan, trailing profit.


Post Analysis

- Lost trade with full risk.
- If I trade as scalping it may give me some profit. Price went beyond 1R profit then reverse until it stops me out.
- I have no plan for multiple scenarios. 
- My mistake was not moving stop to breakeven, and I let price hit my stop. Should get out early to protect trade.
- Trend in hourly chart was not clear uptrend, short term trend show congestion, while medium trend show downtrend. No trend alignment occurs. 
- Should rewrite trading plan/checklist to include what is trend alignment.



- The next day price when up with very clear direction to the up move. It looks like I got direction right but again my timing was off until the next trading day.





28 Mar 2023

27 Mar 2023 (Trade Example): AUDCAD

 AUDCAD short trade on 27/3/23

- Trend alignment to the downside for daily, 4 hour & 1 hour timeframe. In 15-minute timeframe short trade setup with sign of weakness appeared.


- Entry time 6:30pm
- Set up with SOS that failed (SOS in downtrend).
- Max profit 3.35R (at end of trading day)







25 Mar 2023

24 Mar 2023 (Trade Example): USDCAD

 USDCAD long trade on 24/3/23

- Trend alignment for upside in daily, 4-hour and 1 hour timeframe. On 15-minute timeframe there was an absorption volume set up.


- Entry time 5:45pm
- Max profit 1.58R