Trading Journal


I am thinking that Friday is the First Red Day in AUDUSD. Then I am expecting a nice drop on Monday

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08-12-2024 Monday
No News.
U30USD

Around label A, I thought about buying.
But I think I want to say that this is an excellent missed trade. There should have been three distinct Sell opportunities.
Let me try to frame the idea of why I should have been on a look out for a SELL.

  1. Friday was the first red day. Monday held the high of the week until Friday’s 1:30 PM.
  2. What threw me off is the small doji from the close of Friday. But I think this in itself is a great sell signal
  3. Second thing that bothered me was the lack of Friday’s high’s breach. 8:30 AM fell a mere 15 points short of Friday’s high.
  4. The third thing that threw me off was a lack of clear Sell signal; I was looking for a double top
    There is a small rectangle from 8:35 am to 9:25. Interestingly it reverses at 9:55. I think this makes a great trade because of the speed it moves with. Starting from 9:25, there are all red candles until 9:55. Then if I could enter between 9:25 to 9:35, then I could try to scale in with each candle.
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Imagine if you actually bought then. :sweat_smile: Those red candles are huge. :open_mouth: Definitely a blessing in disguise that you missed it. :blush:

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I hope I’m not interrupting your thoughts here, but just wanted to wish you luck on this journal! :blush: Will be cheering for you! :smiley:

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08-13-2024 Tuesday

Tue Aug 13 8:30am USD Core PPI m/m
USD PPI m/m

U30USD

Direction: SELL

Name of the trade: Quick Sell Off

Confidence Level: 8. 10 Being the highest.

Made Money? Yes

HOD: 03:45 PM

LOD: 06:35 AM

Entry: 09:46 AM/PM

Exit: 10:08 AM/PM

Significant Level broken: Yesterday’s High

H4

H1 5 Days

Entry Type: Market

Once it came to the HOY, I was able to turn to a 1 minute chart. I also waited for a swing low to be broken. The two pins gave me a great confidence that I would at least be able to go to break even.

Could I have moved my SL to BE?

Yes. I was immediately in profit and I moved my SL to BE after seeing that I was in profit.

Where did I have my SL?

Above the immediate swing.

Where did I have my TP?

I didn’t. I aimed for the low of the day.

Did I measure my TP?

No. I aimed for the low of the day.

Was Market Order best?

Yes.

Market Order’s expectations. When was the BO expected?

I expected to be in profit right away. There was no pullback.

Market Order’s DD?

There was no draw down. Although I was few minutes late.

Was FVG entry best?

No fill

Did my TP hit?

No.

Was my TP too far?

Was my TP too conservative?

Did I close early?

No

Did I close late and let the profit evaporate?

No. I trailed my SL at the swing low where I was cognizant that it could turn around and it did.

Did a Pullback make me exit early?

No.

Was it a reversal & not a Pullback?

It was a reversal.

Considering the fact you’ve been here for a long time but just making your first posts, welcome to the forum in proper.
Do you mind sharing why you havent being keeping up with the forum perse?

On your journal, i would say am loving every bit of it. I hope to see more of this and i wouldnt mind checking once in a while.
AUDUSD is still a good buy considering DXY weakens…

Warm regards,
Ayọ

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Signal Day Type: FRD

Direction: SELL

Name of the trade:

Confidence Level: 6. 10 Being the highest.

Made Money? Yes

HOD: 05:00 AM

HOS: 09:15 AM

LOD: 02:25 PM

Entry: 09:20 AM

Exit: 10:35 AM

Significant Level broken: Current day’s high

This was my first time understanding about FRD and now I have better understanding. That this trade can be left open until the end of the day. This is exactly how Wednesday played out. The trade kept going until the end of the day. There were many pullbacks which kept making me nervous. But next time, I will hold the FRD trade until the end of the day.

After each pop I could look to scale in. FVG also provided an exceptional entry.

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08-15-2024 Thursday

Thu Aug 15 8:30am USD Core Retail Sales m/m
USD Retail Sales m/m
USD Unemployment Claims

Above news caused spikes. Best to stay out.

AUDUSD

Signal Day Type: FRD

Direction: SELL

Name of the trade:

Confidence Level: 6. 10 Being the highest.

Made Money? No

HOD: 11:10 AM

LOD: 09:30 PM

LOS: 09:10 AM

Entry: 08:35 AM

Exit: 01:20 PM

Significant Level broken: Previous Day’s Low


Monthly is ranging.

Weekly should continue to see more bullish.

Area of improvement: I need to be more aware about the High level time frame’s trend and consolidation. Monthly it is ranging and weekly and daily it seems to be bullish.
After Thursday 08/08 which seemed to have started a bull break out, only Friday and Wednesday were bear days. And after Thursday 08/08, 5 days have traded in the upper half of Thursday 08/08. Wednesday 08/14 which I thought was a FRD, led to Thursday being a FGD. I think it is significant that those 5 days traded in the upper half of the breakout candle Thursday 08/08 – this signifies the level’s strength.
With the above in mind, I think tomorrow – Friday 08/16 should be another leg up. Let me consider Today as a FGD. For two reasons:

  1. Thursday’s swiped off the Weekly low.
  2. Thursday’s has also respected the level and traded above the break out candle 08/08. It is closing green also.



Entry Type: Market

Could I have moved my SL to BE?

Yes. But I didn’t because I wanted to leave the trade open for few hours. This was a mistake. I was in some profit and I did not only not take some profit but I went into very big draw down. And I kept adding to my loosing position.

Where did I have my SL?

Above the immediate swing.

Where did I have my TP?

I didn’t.

Did I measure my TP?

No

Was Market Order best?

Yes.

Market Order’s expectations. When was the BO expected?

I expected to be in money right away. There was small pull.

Market Order’s DD?

Almost none.

Was FVG entry best?

Did my TP hit?

Was my TP too far?

Was my TP too conservative?

Did I close early?

Did I close late and let the profit evaporate?

Yes. The market returned from the opening. I went from some profit to being in very big draw down and closing in loss.

Did a Pullback make me exit early?

Was it a reversal & not a Pullback?

It was a reversal for which I should have locked in some profit or at least moved my SL to break even.

08-22-2024 Thursday

Thu Aug 22 8:30am USD Unemployment Claims
9:45am USD Flash Manufacturing PMI
USD Flash Services PMI

Unemployment Claims had a high impact on the indexes.


Tuesday & Wednesday were small days. So, I am glad to see a bigger range today on Thursday.

I wanted to enter by 12:35, I would have exited if the next candle was green. I would have targeted current day’s low.

Maybe because A is a breakout candle, leaving off a significant FVG. I think I like the fact that the 12 to 1 hour did not make it to the yesterday’s closing price. I feel this was a valid SELL entry because A’s upper body was not touched.

Another similar trade I took, but again I went to breakeven immediately and I was tapped out. But it seems that after a small drawdown, it went to the TP.