DAY 67 UPDATE (MONDAY 27TH MAY 2019)
Well hello Journal…
Late post it is today but we’re still getting it in before close of day. I’ve been working on some stuff lately (Forex Related, so not to worry as I’m not sabotaging myself or anything already )
Stats as usual:
No of Trades so far: 24
No of Active Trades: 1
Profitable Trades: 11
Losing Trades: 8
Break Even Trades: 4
Really red Friday was what we eventually ended the week with. Unlucky as well as you’ll soon find out in the updates below. First off is:
USDCAD 2BAR REVERSAL SHORT UPDATE
So as earlier presumed, last week, price did hit our adjusted stop level and kicked out the trade at BE, this was well before price came within just a couple of pips to first target that would have secured some profits.
Eventually though price did head back down and below the line. It’s part of the whole package and I’m still waiting on having enough trade data to see what I can do to improve on future similar situations.
GBPUSD PIN BAR SHORT
Trade bias was correct, Stop level wasn’t. Again, price failed to reach first PT level and we weren’t able to secure some profits or move stop to BE before price turned against… Got out for a full loss on this one. Better luck with the stop next time eh?
CAD/CHF PIN BAR SHORT
Second losing trade on Friday, again by a very small margin. Shorted the pin bar as shown on the chart. Price cam real close by just a couple of pips, and then reversed right back to hit out stop. One thing I could have done better here was to move the trade stop to BE right after it just about kissed the first TP. However, I didn’t want to mess with the plan and preferred to see how the trade would pan out. Guess I got my answer in the end on this one.
NZDCAD PIN BAR SHORT
Price makes a pull back and fired off a valid bearish pin bar pattern at a key price level… We are currently short on the trade and watching how it pans out.
So it turns out quite a lot did happen between the last update here on Friday and Monday, that’s what we like to see. Hopefully with more green results on subsequent instances.
Alright… that’s it for today Journal… Tomorrow will be another day.