Price Action, Market Structure & Nothing Else

Hello Everyone,

I will be attempting to keep a log with my trades & analysis for learning purposes.
The trades will be made in my live account. I plan to use those trades for learning purposes, especially the losing ones.
My trading strategy is based on limit orders. So, they will be posted BEFORE it triggers.
In some cases the trade might not be triggered, or be canceled due to change in market structure.

I don't chase trades. They either come to me, or no deal. This usually gives me a better R:R.


MY TRADING STYLE
Price action & Market structure.
My goal is to understand what price is doing and where is going. I use a "top-down" approach to my analysis.
I rarely use any TF below 1H, unless I'm trying to find a better entry from an on-going impulse move.
I use no indicators.


Everybody is welcome to post and share their ideas here as long as you follow 3 simple rules:

Rule #1: No hindsight trades.
Win or lose we are here to learn from our mistakes. You can only learn when you accept you are wrong. So be transparent, nobody is here to judge you.

Rule #2: Be respectful.
I won't tolerate bickering and "cock fight". Therefore, leave your ego at the door.

Rule #3: No indicators & EAs. Keep your chart clean.
I have no interest in your Christmas tree charts or flashing indicators. I'm not here for clubbing or the holidays.


Let's Get to it!

Game Plan for AUDUSD
Long-term: Bearish
Short-term: Bullish

I can't tell if the level will hold, so I will wait for price action to confirm my short-term bullish bias. Since this is a counter-trend scenario, manage your risk properly.

Game Plan for NZDUSD
Long-term: Bearish
Short-term: Not sure

This pair is in a range so its fair to assume it will go down to the bottom of the range. I would like to see another push up or price action confirmation below the TL.

Game Plan for GBPCAD
Long-term: Bullish
Short-term: Bearish

I think price will fall to the region marked on the second chart, which is where I would look for a long entry.
I will be checking this pair closely to see If there is an entry to go short before the long.

Game Plan for GBPCAD
Long-term: Bullish
Short-term: Bearish

This is one of those situations where I will go to a LTF (<1H) to try and find an entry. The move is clearly down and as I said in the first post: "I don't chase trades". I'm after the R:R, so I will wait and see if price does WHAT I WANT it to do. If does, great! I will jump in. If not, c'est la vie.

Game Plan for CADCHF
Long-term: Bearish
Short-term: Bearish

This pair is bearish . It's going for the lower portion of the range. Unfortunately, it's too far ahead to catch it.
However, it is 100 pips away from first target and maybe 300 from the bottom of the range. I will monitor it to see if it will give us an entry in a LTF. It probably won't happen, but we will see.

Game Plan for AUDCAD
Long-term: Bullish
Short-term: Bearish

This is a tricky pair. We are currently in a bullish upper channel, but price is ready to push higher again. However, since the previous move was a very strong one, it might end up breaking market structure. So I will wait for price action at that level. Ideally, I would like to see a stop raid and rejection in order to go long. We will see.

Game Plan for CADJPY
Long-term: Bullish
Short-term: Bullish

I think price is forming a triangle in the long term. Currently we are at the bottom of the triangle granting us a long opportunity.

Trade#001 | Long for CADJPY

This trade hasn't triggered yet.

Game Plan for EURGBP
Long-term: Bearish
Short-term: Bullish

This pair is in a channel and approaching the top part of it.

Trade#002 | Short for EURGBP

This trade hasn't triggered yet.
Although the entry, SL, and TP are marked, I will try to get a better price by going to LTF when price approaches the area.

Trade#003 | Short for NZDJPY

Although I'm short already, I'm looking an opportunity to sell more. I think this pair will continue to go down for some time.

I decided not to post my trades here because I'm already posting it on Trading View. Go there if you want to check them out. I will be posting possibly daily the result of the closing trades and the reasons for doing such.

NZDUSD
Profit: +97 pips
Description: I closed at the Order Block of previous market structure. Looking back, I should have held it a bit longer although it wasn't looking so hot in LTF. We can see the market was in a downtrend after a stop raid.
It's not clear to me where price will go at this point, but I'm considering a 78.6 retracement.





AUDJPY
Profit: +70 pips
Description: At the same time I closed the NZDJPY, I decided to short this pair because it game me a nice flag. My exit was at the previous resistance. Price reached the 78.6 level so I'm expecting a correction now.




GBPUSD
Profit: +248 pips
Description: After the TL break and reaching the 78.6 level, I figured we were going bearish. I closed the position at a support level. I had some good profit and wasn't willing to give it back. Looking back now I'm kicking myself in the balls lol. Can't complain much though.





GBPCHF
Profit: -40 pips
Description: This trade went belly up. We had reached the 61.8 level and a break in the TL. Price went down very quick, so I was expecting a deeper correction. Because this was a counter trend I didn't risk much. Do strong moves lead to a shallow correction?

MARKET ANALYSIS

AUDUSD
I expect price to retrace to the resistance level before moving lower. Look for confirmation in LTF before entering short.


AUDJPY
This pair isn't very clear to me. It seems like its creating a double bottom at a TL + Resistance level. Price could bounce after a stop raid before moving up, or maybe create a channel range before breaking lower. No trades for me on this pair.


AUDCAD
Price is close to the TL and resistance level. It created a double bottom which could become a stop raid. Wait for confirmation to enter long. It price creates a channel, sell at top and expect a break below. I'm already in this trade, but buying instead til I reach the marked zone.


CADJPY
Price is creating a down channel in the long term. I expect a pullback to the marked level before breaking lower. LTFs might give a buy opportunity. Wait for confirmation either way.

MARKET ANALYSIS 2

CADCHF
Price is creating an upper channel heading to a key level. Look for confirmation before selling. Buy opportunity might be present in LTFs.


EURUSD
Price recently broke out from a strong up move. Now is going down rather quick, so I expect a pullback to the level marked. Wait for confirmation before selling. Buy opportunity might be present before price continues moving lower.


EURGBP
Price recently broke out from a strong up move just like EURUSD. This suggests that EUR is weak. Same idea here, wait for a pullback + confirmation to sell. Buy opportunities might be present in LTFs.


GBPCHF
Price is in a upper channel. I expect price to break below at any moment. I'm already in this trade. I might add to the position after the break or some confirmation like flags below the TL.

MARKET ANALYSIS 3

GBPUSD
Price broke below the TL and is now creating a channel. Sell at the break of the channel, or at the top of it. Buy opportunity might be present in LTFs.


GBPGPY
Price broke below the TL and is now creating a channel similarly to GBPUSD, which indicates GBP is weak. Sell at the break of the channel, or at the top of it. Buy opportunity might be present in LTFs.


GBPCAD
Price is creating a triangle. Price could break below and then heads up, or simply break up. Further confirmation is necessary. No trades here.


USDCAD
Price is moving up, but at the time is creating a channel. We can buy at the bottom of the channel, or wait for a break to buy.

Attached Image (click to enlarge)

MARKET ANALYSIS 4

USDJPY
Price is creating a triangle in the 4H. It could break to either side. Since a double bottom has been establishes. I'm inclined to believe price will break up. No trades here for the moment.


USDCHF
Price is moving up and at the moment created a triangle. Wait for a break, or pullback to buy.


NZDUSD
Price is heading to a key level. Expect a bounce + buy confirmation in LTFs, before price continues to move lower.


NZDJPY
Similar to NZDJPY, price is heading to the marked area. Expect a bounce and possibly a trend reversal after a period of ranging.

Attached Image (click to enlarge)

Subscribed. I like price action too. Simple is beautiful.

Thanks for the sub!

All the best and, good luck.