Start of my journey towards profitable trading with PA
New 1H trade: EURUSD
Pending Buy limit.
Reason:
1. Nice level, with a nice thrust bar.
2. D1 bullish bias.
Pending buy limit placed because price made a nice rounding top. Since I won't be watching the screen for approximately 2-3 hours, I expect price to hit the level with some acceleration, and bounce.
Therefore, if price creeps above the level, I will cancel the limit order, as a preferred way of trading RR is acceleration towards the level.
4H chart (since 1H too cramped):
Attachment
It's certainly draining my confidence/psychology seeing all those consecutive losses..
I'll have to admit, most of the losing trades were not A setups, which were taken with "soso" confidence level.
I believe most traders go through this, and learnt from these mistakes, that they develop a rock solid foundation, to STAY OUT of "soso" trades.
I MUST follow the rules that was laid out in the first post, and be the trader I planned of becoming.
Don't give up, follow your rules, because thats how you become confident in them. If they dont work out, revise! If you want to change the rules, make sure the new rules are actually rules and are pretty much objective (cast your intuition into rules, in other words). Good luck
New 1H trade: USDJPY
Short @ 0.9091
Reasons:
1. SFP at R
2. good space for a quick move down
Trade taken in the morning as this is USDJPY, with japanese as Asian market.
TP set at FTA for a quick move.
Attachment
New 1D trade: USDCHF
Pending Buy limit @ 0.9202.
Reasons:
1. DCC of S at strong D + W HCR.
2. TL confluence to act as S
Attachment
New D1 trade:
Pending Buy limit: EURAUD
Reasons:
1. Strong close above strong D +W HCR.
2. Plenty of space above.
3. Breakout of W H&S pattern.
D1 Chart:
Attachment
W1 Chart:
Attachment
New 1H trade: USDJPY
Pending Buy limit @ 91.00.
Reasons:
1. Nice level with plenty of confluence: Previous R with 3 swing touches, 38.2 Fib Ret from most recent uptrend, and TL
2. Some space for RR into that level.
Attachment
Triggered by a big big spike (news). Almost got stopped out.
Put the spike aside, the RR looks good. Let's wait and see what price does from here.
Attachment
Update in USDJPY 1H trade:
Tightened SL to below SFP + BUOB candle. If price breaks the low of this bar, means setup already invalidated.
Attachment
Manually closed the position for BE++.
Don't like the descending triangle forming, and took too long for a reaction after the RR. Not the movement I was looking for.
Attachment
New 1H trade: USDJPY
Pending Sell order @ 90.95
Reasons:
1. Nice PPZ level
2. Descending triangle breakout
Look for a retest, and butt kiss to shoot off south.
Attachment
Triggered. Let's roll.
