GBP/NZD: took on 1/8/19 ended up beign [1%]
Market shows another opportunity with the same pair.
GBP/NZD :
- Daily - Low Test, Deceleration, Support , Wedge, Trend
- Reward:Risk 6:1
GBP/NZD: took on 1/8/19 ended up beign [1%]
Market shows another opportunity with the same pair.
GBP/NZD :
GBP/CHF - (Short) - Daytrade Waiting for Pullback for entry.
1.Daily Wedge Breakout
2. 4H Head & Shoulder before the BO Daily Wedge Bo
1H & 4h Price PA below 50 ema
And
GBP/NZD - closed out [1%]
GBP/CHF - (Short) - Daytrade - Yestarday the pull back wasn’t good enough but today just got into the trade. This is slightly aggressive entry before the breakout. I am in the trade.
Trades Taken:
Trades Missed:
Previous Trades:
This week, I don’t see much for a possible entry that could be happening. There are a few pairs that are retracing but going to take some time or might just show up this week on my Daily watch list.
Let’s get started
GBP/CHF 1/14/18 - Short
Patience is Key
GBP/CHF - Daytrade Short
NZD/JPY - Daytrade Short
GBP/JPY - Swing Trade - Reversal Short
Daily - Price Decelerated at 1.52681 with a strong bearish candle forming on 1/17 then on the 18th a High Test formed around the Head and shoulders pattern with strong Major Weekly Resistance
4H - Looks like a range formed 1/14/18 until the 1/18 forming like a Triple Top
1H - Price is just Ranging. Price go for either way.
- This could just possible be a pause in the lower time frame but still going to put an entry to go short based on Daily.
Reward:Risk: 5:1
Psychology:
This week was pretty crazy with some opportunities that have have been losses. Normally, I would look at these results of the last two weeks and feel a slightly hesitation when taking new trades. Not really, this is just probability and had come to the fact that their is a random distribution between wins and losses for any given set. The only thing I could do is keep taking trades and wait until March to make any changes to my plan because I would have good enough trades to see what is working and what is not.
Trades Taken:
Trades Missed:
None
EUR/AUD 1/21/18 - Long
GBP/AUD 1/21/18 - Long -
This is for the Daytrade watchlist. Currently Watching NZD/JPY, put in a market order
Reward/Risk: 3:1
EUR/CAD - Swing Trade Short
I was in this trade previously for the Pinbar Candle on the 1/18 but that ended being a loss. Today, another Pinbar formed. I put a limit order. Just waiting if market triggers the order.
EUR/AUD - DayTrade Long
I wanted to get into trade on a Swing trade but didn’t have a entry signal but will look for opportunity in a day trade. Price has already bounced off the support only leaves me with a 1H entry.
EUR/NZD - Daytrade - Breakout of Head and shoulder Pattern - waiting for retrace and entry on 1H
EUR/CAD - Day trade - Long
Price broke out of head and shoulder looking for a retrace to go for entry.
Trades Taken:
Missed Trades:
You may be wondering the EUR entries were losses and this one ended up being a winner is very something to consider. Could this just be a biased based on it being a winner? This is something to really ask myself because I could have a belief based on the few losses I just had.
Previous Trades:
Something to consider?
At the moment, I haven’t missed any trades for swing trades based on my plan. Day trade is new to me but I expect to make mistakes but learn from them. These are the small kinks to work on my trading but reviewing is helping.
The two trades in daytrade I have missed. The mistakes were:
AUD/NZD: I saw the candle on Daily form but when I did a watch list, I completely disregarded the trade.
how to fix it? Take time reviewing each 28 pairs. If I don’t have any trades review it a 2nd time.
EUR/CHF: I didn’t take the trade because of other EUR pairs with similar entry.
how to fix it? In the end of December, I was trading about 19 pairs which this year increased it to 28. Which some have some currency have correlation which I need to improve.
##Weekly Watchlist 1/28/18
EUR/AUD
EUR/GBP - Long for Daytrade
GBP/CHF - Swing Trade Long (waiting for to trigger)
AUD/USD - Entry before Breakout of 4H H & S
AUD/USD - Breakout of 4H H & S
AUD/USD - Got into trade on Phase line breakout
I will be doing a January Monthly review when these last trades of January close.
Trades Taken:
Previous Trades:
Missed Trades:
None
Waiting on the last 3 Positions to close before I do a January Monthly Review.
EUR/GBP - Long
NZD/CAD - Waiting for short