Watchlist 2/12/18
EUR/GBP
- Daily - Breakout of Triangle
- 4H.- Medium Candle breakout
- 1H - waiting for 1H for entry.
EUR/GBP - Daytrade Entry
Reward/Risk: 5.5:1
Concern: Price can still just go down and take me out But if price moves up the Resistance at 0.8910 could something to watch out form.
Weekly Review 2/11/08 - 2/16/18
Trades Taken:
- EUR/GBP - [Daytrade] 2/12/18 (OPENED) - 2/13/18 (CLOSED) [-1%]
Missed Trades:
None
Previous Trades:
- EUR/NZD [Day trade] 1/24/18 (Opened) - 2/16/18 (CLOSED) [0%] (going to review to improve Trade management)
will be posting a January review
January Monthly Review 2018
Swing Trades:
I will be going over only the swing trades I have taken to see If I could learn anything. You may be wondering Why? I want to see If I am following my trading plan, if I should have not been in the trade, and see what I can do to improve.
With Trend:
AUD/JPY 1/02/18
- Daily - Price started to Decelerate at resistance 88.00 from 12/28 and 12/28 until finally on the 1/02/18 a nice entry candle.
What I learned? Great Entry. Just didn’t work out. Will review again in End of March.
GBP/NZD 1/08/18 & 1/09/18
- Daily - On the 1st candle (Marked in Green) 1/05 the price looks like to be slowing down at the bottom of the Wedge + Support Zone 1.88676 - 1.88201. The Second candle a low candle on 1/08 a great entry but ended up being a loss. Again on the 1/09, 3rd candle another opportunity to go long with price Rejection both the support zone and Bottom Wedge.
The Trade was overall with overall Trend, Support, Wedge, Deceleration, and Low Test. With the following days, price had a false breakout and ended up going towards where my initial take profit would have been.
What I learned? The trade was Great, followed plan but still a loss. It happens.
GBP/CHF 1/30/18
- Weekly - A Wedge had been forming for quite some time. On 1/22/18 a HUGE bearish candle breaking out the wedge pattern.
- Daily - Price Started to Decelerate on the 1/29 at support zone 1.3180 - 1.3130. Again, the 1/30 a nice candle for entry with the trend.
This trade had great entry from with the trend, support, deceleration, and low test. I was looking to take profit at around 1.3400 because of a possible head a shoulder pattern. Next, on 1/31 a another deceleration candle then 2/01 a high test at the retrace of the breakout of the wedge. The trade ended up being a lost and it happens.
What I learned? I followed my plan on entry and management but I have a weakness in the Weekly time frame which I must work on. I can’t say how because of the past few trades I am noticed I must improve my Weekly time-frame Analysis to improve my Swing trades.
Counter Trend:
GBP/JPY 1/16/18
- Weekly - On the 1/01 Nice bullish candle Breakout of the Previous Resistance Zone from 15.40 to 152.80. Next, on 1/08 Price had a big lower wick which looks like bears tried to push the price down but failed.
- Daily - Price looked to start to decelerating at 1/15 and a nice 1/16 candle at the Right shoulder, which took over a month to form and the Resistance Zone.
Hmm… let’s start with the daily, it started with a nice decelerating on the 15th at right shoulder and Resistance. I was already paying attention to look for a opportunity but didn’t provide a entry signal until the 16th. Yes, great entry but lost and was good trade .The Weekly looks like a different outlook.
Should I have stayed out of the trade? No, If I entered based only on daily but yes looking at the Weekly Chart. On the Weekly chart , price broke out on the 1/01 at the Resistance Zone then on the 1/08 the lower wick meant sellers tried to push sellers but Price CLOSED above the Resistance Zone.
What I learned? When daily has an entry, looking at weekly chart to see what candle formed the previous weeks.
EUR/CAD 1/18/18
- Weekly - Strong Bullish Candle on 1/08/18. This was a strong move up with the Trend.
- Daily - The starting of the week on the 1/15 momentum looked like it slowed down, 2nd day deceleration candle, 3rd the 1/18 a bearish Candle. Price bounced off the supposedly right shoulder but there was a minor Resistance at 1.52784. With the following day, a Entry candle on the 1/18.
EUR/CAD 1/23/18
- Weekly - Ascending Triangle bounced 1/08/18 with strong rally momentum rally up. 1/15/18 with a breakout of the Triangle.
- Daily - The entry was based on the Head and shoulder pattern, deceleration, pin bar which gave me a great entry for putting in a order.
Looking over my plan, entering the trade really makes sense I was looking for a possible false breakout.
Conclusion
January has been pretty crazy month. I started to take swing counter trend trades but they do need improvements. Trading is all about learning and working to get your kinks out the plan. The whole point of this review how I can get better both my PSYCHOLOGY and the trading plan.
To improve:
- Looking at Weekly charts with my Swing trades.
- If I have no watch-list or trade, look at all currency pairs a second time
- When I enter trades, look at what possible support or resistance price has to go through.
Weekly Watchlist 2/18/18
EUR/GBP
Weekly - Ascending Triangle with High Test at the top
Daily - Another false break with deceleration at .89135 before coming back down
- Could see Price Going Down to the Support Zone .8770 to .8750
Watchlisth 2/20/18
AUD/CHF
Daily - Nice Bullish Candle
4H - Breakout of 4H head & Shoulder
1H - Waiting for retrace for entry
Weekly Review 2/18/08 - 2/23/18
Trades Taken:
- AUD/CHF [Daytrade] 2/20/18 (OPEND) - 2/21/18 (CLOSED) [-1%]
Missed Trades:
None
Not much really going on, there was a interesting setup at EUR/GBP but isn’t part of my plan yet havent really tested it but need to improve my plan.
Weekly Watchlist 2/25/18
Not much really going on for my swing trading plan. Just patiently waiting for the market to form some structure before looking for entries.
EUR/GBP
- Weekly - Nice Bearish Candle. Weekly Price Still in a Triangle the High Test formed on 2/12 with the week of 2/19 a bearish candle.
- Daily - Price is heading down to the bottom triangle waiting to see* what happens at .8750 - .8730 Support Zone
Good.Watching Eurgbp too.Let me see what ll happen on the bottom?
@dudupips
hey mate, i have a challenge for you IF YOU CHOOSE TO ACCEPT… if you are Man enough 
see if you can apply that concept that i just taught you in the other post to what is happening here
in my opinion, not hard at all
but, let’s see how you go
would you buy or sell here ?
@anon81929759 Eurgbp?
I believe it will be up after hit the bottom .
It will happen around 0.7800-0.7850.
So we should watching and waiting.
2/25/08 - 3/02/18
Trades Taken:
None
Missed Trades:
None
Haven’t seen much entries for both day trades and swing. Will be doing a February review to see if I missed anything for the whole month and reviewing my trades.
Weekly Watch list 3/4/18
Swing trading haven’t seen much going for the strategy. Waiting for the market to find some structure.
USD/CHF
- Daily - Price Bounced off Resistance Zone .94500 - .94400
- Waiting to see what happens at .92700. Possible Reversal. Waiting for deceleration & Candle
**
- Waiting to see what happens at .92700. Possible Reversal. Waiting for deceleration & Candle
- Weekly Review 3/04/18 - 3/09/18
Trades Taken:
None
Missed Trades:
- NZD/CAD - 3/07/18 (Swing Trade)
Daily - High test, Deceleration, Wedge, Resistance, 1H MACD Divergence
If I was in the trade, I would Target .9200 for take profit. Stop loss would be moved to Break even depending on what happens at the wedge breakout.
Watchlish 3/13/18
EUR/JPY - Breakout H & S (Long)
- Daily - Bullish Candle
- 4H - Head and shoulder Breakout. Price has made Higher Highs could see a possible new trend.
- 1H - Waiting for retrace
Weekly Review 3/11/18 - 3/16/18
Trades Taken:
EUR/JPY [DayTrade] 3/13/18 (OPENED) - 3/14/18 (CLOSED) [-1%]
Missed Trades:
None
Watchlist 3/20/18
EUR/NZD - PB, Deceleration, Resistance, Triple Top, Weekly H & S, Triangle, 1H H & S
- Daily - Deceleration + PB formed at resistance of 1.7060 with it being a 3rd Touch forming a triple Top.
- 1H - A Head and shoulder pattern has formed
- Reward:Risk: 6.75:1
Yes I agree to the fact that a good strategy is the primary requirement for the successful trading career. You have a lot of competitors on the Forex market and you have to left them back by making a good plan for yourself. Are you ready to work on it?
Hey Kreg, Yeah plan is very important but psychology is super important especially during the tough times. I still have much learning to do and improvement both in my plan also my psychology.
Weekly Review 3/18/18 - 3/23/18
Plan does need some improvement , going to go over the past few months. Just not getting much entries just have to wait patiently.
Trades Taken:
EUR/NZD [Swing Trade] - 3/20/18 - 3/21/18 [-1%]
EUR/NZD [Swing Trade] - 3/21/18 (Currently Running)
Missed Trades:
None