USD long trade and GBPUSD short trade on 7/4/23
- Entry time 4:15pm
- Entry time 6:45pm
8 Apr 2023
6 Apr 2023
6 Apr 2023: AUDCAD
AUDCAD short trade on 6/4/23
Pre-Analysis
Entry
- Time of entry 8:45pm
- Risk 0.25%
- Exit plan, TP @ 0.894 approx. 2.85R
Post Analysis
- Trade closed at breakeven. Price went down to max. 1.24R but I did not exit and went back up again.
- I did not plan for another scenario which is what am I going to do if price did not break first support at 0.8990 level.
- Should I exit when that level did not cut through? and gain more than just breakeven at least.
- I started to feel good with the selection process to enter the trade but find it struggle to exit.
- Which level should I exit? or should I fix the exit level? how much gain should I target?
- Those questions need to examine and will be my guide to make a solid exit plan.
- Extra note: I choose this pair as no other pairs got trade set up although this trade reward was less than 1R.
- Price chart when I closed trade: -
5 Apr 2023 (Trade Example): USDCAD
USDCAD long trade on 5/4/23
- This was a discretion trade as the confirmation indicator not in trading plan (test, no supply or shakeout). The indicator was SOS 133: Strength coming in.
- Entry time 2:00pm
- Max profit 4.74R
- Update: - another trade that appeared on 5/4/23 was AUDCAD short trade.
5 Apr 2023
4 Apr 2023: CADCHF
CADCHF short trade on 4/4/23
Pre-Analysis
Entry
- Entry time 5:00pm
- Risk 0.25%
- Exit plan, TP around 3R profit.
Post Analysis
- Trade lost, with full risk.
- There is some additional rule I want to add, I will refer to volume from 2 platform the MT4 and TradingView. If both platforms give climactic volume, then those pair will include in watchlist.
- In this case volume on TradingView was not a climactic volume, it should not include in watchlist.
- But the price went down smoothly after hitting my stop.
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