Good morning folks! I hope you’re well!
I’m excited, I’m going to be visiting Aix en Provence tomorrow and on Sunday, a friend, Paul, from https://candid-dreamers.com/ (you know the crazy Irish dude that traded and traveled full-time a while back) is coming to spend the week with yours!
Anyway, let’s dive back into what matters, who cares about wedding photographs when I don’t even have a home base, let alone a serious girlfriend
Always feels good to write +3R, however, the truth is that I missed an additional +7.7R. The trade entry took place at 2AM, which was when I was sleeping, and I hadn’t made the decision to wake up – that’s new from this week. So I just placed an order once I woke up and got triggered into this position which is great
It was a clear counter-zone in my book, an extremely obvious 4hour entry, and it played out to perfection (I’ll be the first to admit I was tempted to manually book the win once we reached the area of supply & the trendline, but I stuck to my trading plan, and it paid off!
For those that wanted to have a look at the scale in that I sadly missed (I placed an order there once I woke up, but price never pulled back to that area)
Yes, you are correct, price pulled back to 1.6pips away from my entry order…
Thinking to future events where I may find myself in a similar situation I may allow myself to take the scale in with the same original stop just trail my entry to the 20BB central line.
I think that makes sense.
It’s the second time this month where I miss a trade by a handful of pips and third trade of the year that I miss. Which is way too many. Hence why my alarm clock at 2am (turning to 3am this week) is going to be more frequent.
We’ve witnessed a very strong move higher in Aussie prices, expecting a potential reversal, we’re approaching an area of supply, it dates back to 2015, so I’ll be the first to admit, I’m unsure if we’ll see a reaction from it, but worth keeping our eyes on it
A lot more straight forward I would dare say, I doubt I’ll have an entry that fits my criteria, but it’s worth keeping on watch just in case
Quite an old zone, nothing like 2015 tho, but it remains interesting, once again, it probably needs a pullback and I’d be more than happy to execute upon an entry if one were to present itself to me.
While I’m definitely not a big fan of taking trades that only spiked with a wick into a zone, this one appears to be presenting a potential entry
Gold is the last “pair” I’ll mention for this week, we’re approaching an area of supply, let’s see what happens!
Damn this is starting to get long. While it’s a phenomenal exercise to write out everything I’m doing in the market, and I hope, may help just one person transition into a consistent trader (please note I did not say full-time trader)
I executed several positions yesterday in order to be able to track the results and their strike rate – I believe only one position warrants a mention here, (the 2 others were losses so I’m not trying to cover my ass, I’m saying it here!)
This was the opportunity on GBP/USD
The daily was still on a 50-50 bullish bias since I expected a move into the 12h/1D/2D supply area as well as a slightly higher high to reach the .5 fib
On the 2hour we remained in a bullish bias since we didn’t break the low
On the 15min we saw clear accumulation, a false breakout (that filled a 2H FVG), a move higher and then a third tap.
All in all, I think it looked great.