Hello, it’s been quite a while since I posted on my previous thread back at the end of 2019. I have still been trading but switched from a swing trading style, monitoring 20 pairs, to day trading two FX pairs in 2022. I adopted a simple approach, primarily identifying market direction on higher time frames (HTFs) before switching to lower time frames (LTFs) for entry alignment.
Since June, I have been trading both a personal account and participating in a funding challenge, which you can see reflected in the account’s growth.
My goal is to achieve consistency as a profitable trader. I will be posting my trade results and conducting weekly reviews of the trades I take or miss.
Hello, I entered a trade based on the 15M structure being bearish, with the 5M aligning with it. Unfortunately, on my personal account, I got stopped out with a loss. However, in my Phase 1 funded challenge, I remained in the position, and it eventually hit take profit, helping me pass my Phase 1 funding challenge.
Let’s go over today’s price action:
1 Loss (-1% on my personal account)
Funding Challenge: +4.20%
Price was coming from a possible H4 lower high, but I needed 15M confirmation for a structure shift, which had already occurred the day before. During today’s price action, the London session formed a potential 15M lower high, which was slightly confirmed at the start of the New York session. This confirmation led me to enter short positions, following the 5M bearish structure.
On the 15M timeframe, we were still bearish, so I was looking for short opportunities. During the London session, a possible lower high formed, followed by several new lows. In the New York session, I was waiting for a pullback on the 5M timeframe to enter short trades.
However, mid-session, price ended up breaking the 15M structure, so after taking two losses, I decided to call it a day
It has been a slow month. I had a possible short entry on Monday, but I ended up missing it.
Today, as we are in an H4 pullback, I am looking for short opportunities, anticipating that price will move lower. Right at the start of the session, there was a 5M structure shift, which gave me confirmation to look for shorts.
