DAY 14 UPDATE (04-02-19)
Hey Journal…
So I thought I’ll post some charts on some of the trades I missed and the ones I’m currently looking at:
First up is USOIL:
On the zoomed in chart you can see price clearly in a consolidation phase within the pretty green box…
my trade idea was to enter long on breakout of the candle. Now the breakout occurred but in a way i disliked: and that is it broke out so strongly that it affected my R:R considering the closest resistance above it… I set a limit order a little below the breakout candle close, unfortunately price never reversed as it often happens…
Next up is UK100
Price broke out of above resistance on a Friday and I should’ve really had my limit entry order on the charts immediately the markets opened on Monday… If i had, I could have had an entry as price reversed back to cover the gap over the weekend, I didn’t… ![:neutral_face: :neutral_face:](https://forums.babypips.com/images/emoji/twitter/neutral_face.png?v=9)
@jairusmaloba, I’ll only be watching for PA at the next resistance to see any suggestion of a reversal.
So two things going into my Morning routine based on these two errors become obvious:
NEVER EVER DELAY SETTING MY ORDERS EVER EVER AGAIN
IGNORE
There, that’s clear enough… It’ll be on my routine for 20 trading days, if i stick with it all through then I can remove it, else it stays for double the time.
EURUSD UPDATE
I finally closed out the trade manually as it approached the lower end of the swing low to the left:
Got out with a decent 1.2% profit on this trade in total so no complaints. Pin bar formed at the low but we won’t be trading against an obvious trend as a rule, so no trade there.
TRADES WITH ACTIVE LIMIT ORDERS
I currently have limit orders set for a couple of pairs that fit with my trading plan:
first up is EURAUD
Price has formed a really nice looking Bullish Engulfing Candle pattern at the lower support of the current range playing out on the pair. I have my limit entry order set above the BUEB candle wick and my SL and TP as you can see on the chart. wish me luck on this one. ![:sunglasses: :sunglasses:](https://forums.babypips.com/images/emoji/twitter/sunglasses.png?v=9)
US500
price broke out of former resistance… I have limit order set above the breakout candle on this one.
thanks @baemax023 really appreciate.