Street Trader - Just my Luck

Im out the GU limit. EJ limit triggered

I got out too early on Mondays EJ trade

I got out too early on this Gold trade as well. I might need to see what RR works best over time (mental note 1)

I have entered these three trades. Lets see

open trades

Price at a discount to buy?? 129.6 EJ

Imo, downtrend still active, and 60 has not confirmed as supp as yet; I would wait after noon for more data.

I am also thinking we might see a push down. A push up to break even on my trade could see me exit the long and take a short trade.

I have exited the EJ trade at a loss.

Sell Limit EJ 129.7

Quick trade

Sellers still rule; at time of post, still no sign of trend abating. Keep a trailing stop if you are still in. Good luck!

My short GU is playing out nicely. Moved SL to just below entry

If you are referring to GU, I think price could move down over 300 pips in the next two weekly candles

Hi Sam, was referring to EJ at that time

Buy Limit Gold 1835.8

I am long Gold

This was a perfectly planned trade that could have worked well. However, I have taken a loss on this trade. I changed the TP level to much higher .

I don't know what ive learnt from that

I have taken a short trade on the EJ

I have reversed my trade after taking the loss. Sell Limit Gold

Post-Mortem of yesterday's Losers

EUR/JPY
The first trade was entered far away from the top band. Trades should be entered on or above the dotted line (or below if its a buy).
The dotted line should be in the color of the trade (this was adhered to in the first trade)
The entry was on a bullish engulfing candle which should have indicated a pullback to better selling prices.
The Stop was too close- Suggestion: Move SL to above/below the candle of a different color on the dotted line (+/- a few pips)
The second trade was wrong as the dotted line was green
The exit should also have been manual as the COG changed to bullish after two candles
The third trade today was all wrong
Price was below the dotted line and the dotted line was bearish
Also the overall direction of this market is bearish, we need at least the 4hr momentum to be on our side when placing a trade.

In view of the above,

I have placed a sell limit at the red dot. SL should be a few pips higher, above the last candle with a green dot
TP at 1.5x the SL

Post-Mortem Continued

XAU/USD

The first trade was in the direction of the trend but above the dotted line. It should have been on or below that dot.
The SL was too close. should have been on the red dot candle of the swing low - which was a pin bar
The next trade was a ridiculous one. A sell on an uptrend, on a green dot. No clue what this was about.

In view of the above, I am considering a sell limit on the red dot with a SL above the high of the last green dot candle with 1.5xTP