Forex Trading Journal

26 Oct 2024

GBPJPY long trade on 23/10/24

- Trade based on H4 timeframe, strength meter was GBP = +3, JPY = -7

- Entry time around 8:00am (Asian session)

AUDNZD long trade on 22/10/24

Pre-Analysis:-

- Trade based on H4 timeframe. Strength meter reading was AUD = +1, NZD = -6

Entry:-

- Entry time 11:25pm

Post Analysis:-

- Scratch trade, this trade should not be taken.

- The immediate strength meter only shown AUD as the strongest currency, while NZD did not in the weakest currency.

- We need both currency group in the strongest and the weakest reading. (I didn't print screen strength reading).

GBPCAD long trade on 21/10/24

Pre-Analysis:-

- Based on H4 timeframe, strength meter was GBP = +5, CAD = +1.

Entry:-

- Entry time 11:04am (Asia session).

Post Analysis:-

- Very impulsive trade, price not even break the range.

- This was purely a hope that price will break that range, which not happening.

- Should not trade this, huge mistake.

- Why not trade USDJPY for a long trade?. Trade was there during New York session.

- Update (26/10/24)

USDJPY long trade on 17/10/24

- Trade based on H4 timeframe. Strength meter was USD = +7, JPY = -5.

Entry:-

- Entry time 2:18pm

Post Analysis:-

- The design looks not as convinced but I took risk to enter this trade.

- This made me in pressure not to hold this trade and decided to close it as price dropped back to my entry level.

- This trade should be able to give me more profits.