Forex Trading Journal

20 May 2024

EURGBP short trade on 17/5/24

- GBP group shows strength with at least 5 pairs. This gave trade grade as B.

- Trade based on H1 time frame

- Time of entry was around 4:00pm

NZDCHF long trade on 16/5/24

- All pairs in NZD group show that NZD was strong. This trade classified as grade A. Correlation shown below:-

- Strength meter:-

- Trade based on H1 time frame

- Enter a trade around 8:30pm (New York session)

GBPJPY long trade on 14/5/24

- Based on H1 timeframe JPY group was very weak and all JPY pairs correlated show up move. This made this trade grade A.

- Trading timeframe was in H1

- Enter the trade around after 8:30pm. Strength meter also support this long trade, shows GBP was the strongest and JPY was the weakest.

AUDUSD long trade on 14/5/24

- Correlation chart, at least 4 pairs got correlated base on H4 timeframe and it also shows USD was weak. This made AUDUSD trade a grade B.

- Trade based on H4 timeframe

- Use H1 timeframe to time the entry, also strength meter shows USD currency was in very weak condition.

- Enter trade after 8:30pm (after high impact news related to USD)

- Update: 16/5/24 price finally able to make new high. Such a good trade if able to grab this.