Day trade setup

Unfortunately, my month of May was unprofitable. I need to limit the number of trades I make. Max 5 trades per day.

Try 1 to 2 trades a day.
Go through your past trades and figure out your A+ setups.

Your trading performance will drop if you don't follow a system and if you don't study the market with your system.
Proper risk management must be there.
You have to believe the trading system.

GBPJPY

Took loss in the first trade. The second trade hit tp.
I should have waited to hit sl.

XAUUSD M5, two trades

USDCAD H4, beautiful double top
.

EURUSD regular inverted head and shoulders pattern. The first trade was a loss because I mistakenly opened it before the USD news. The second reached the profit target.
I decided on the daily max. 5 trades from June 1. I was very picky today, but it made sense.

coming into the zone. how price react now it have to observe

that is a very nice execution pusztafie, one of my favourite setups, well traded!

Thank you very much!

GBPJPY

EURCAD, M15 Short trade

Many people were selling here. But the dominant trend M, W, D, H4, H1 is up.



Trade the trend.

gu sell trade after 1 hour pass NFP

XAUUSD M5, 1:2; GBPCAD H1 hit TP

Trend continuation trading and reversal trading are two different approaches to trading in the financial markets. Here's an overview of each approach:

1. Trend Continuation Trading: Trend continuation trading focuses on identifying and capitalizing on an existing trend in the market. Traders who follow this approach believe that the trend will persist and look for opportunities to enter trades in the direction of the prevailing trend. They aim to ride the trend until signs of exhaustion or a reversal occur. Key characteristics of trend continuation trading include:

1. Identifying a clear trend: Traders look for higher highs and higher lows in an uptrend or lower highs and lower lows in a downtrend.
2. Entry and exit points: Traders typically enter trades after a pullback or a minor consolidation within the trend. They use tools like moving averages, trendlines, or trend channels to identify potential entry and exit points.
3. Risk management: Traders set stop-loss orders to limit potential losses and may trail their stop loss as the trend progresses to protect profits.
4. Targeting larger moves: Traders aim for larger profits by holding positions for an extended period until the trend shows signs of weakening or reversing.

1. Reversal Trading: Reversal trading involves identifying potential reversal points in the market where the trend is expected to change direction. Traders who follow this approach look for signs of exhaustion in the current trend and aim to enter trades at the early stages of a new trend. Key characteristics of reversal trading include:

1. Spotting trend exhaustion: Traders look for technical signals such as divergences, candlestick patterns, or key support/resistance levels to identify potential trend exhaustion.
2. Entry and exit points: Traders enter trades at the early stages of a potential reversal, often using tighter stop-loss orders to manage risk. They may also use confirmation indicators or additional price action signals to validate the reversal.
3. Quick profits: Reversal traders often target shorter-term profits as they aim to capture the initial move of a new trend. They may exit the trade as the new trend gains momentum or if the market shows signs of invalidating the reversal.
4. Risk management: Traders still employ risk management techniques such as setting stop-loss orders to protect against potential losses.

Both approaches have their merits, and the choice between trend continuation trading and reversal trading depends on the trader's preferences, trading style, and market conditions. Some traders may choose to incorporate elements of both approaches, depending on the situation. It's important to conduct thorough analysis, practice, and adapt your strategy based on the market dynamics and your personal trading goals.

Again GBPCAD H1