Good morning folks, I trust you all enjoyed your weekend!
Let’s dive straight into the business end of things
The scale in I executed resulted in a loss. To be frank, I’m starting to wonder if the data I have about having my stop at 0.715 is a great idea, I know a lot of people use the 0.705 as an entry area, so having it so close may not be the greatest idea.
As a second point, while I don’t trade market structure, it could be interesting to collect more information on break of a high/low (a “break of market structure”) confirming a trend change before taking a position.
I believe I had collected some information over a few trades:
Which here indicates it’s not really worth it, since it would just lead to a lot smaller sample of trades and only barely improve my returns.
I potentially should revisit these scales ins and have a look.
Oh and here’s the screenshot of the trade
Definitely not the prettiest trend line, heck it’s way more of a phase line than anything else, just straight-up bullish price action. There’s potential for the creation of a zone, so I’m keeping my eyes on it, you never know
Already a lot prettier than the EUR/JPY chart I’ve just shared
Mentioning this pair probably before its time, but hey why not. We haven’t broken the descending trendline yet, but there’s a zone below us, which makes any type of price action interesting to me.
Also like this potential on Pound Kiwi, we’re seeing an extremely clear descending channel, approaching a new zone so keeping my eyes peeled for this one. We may also see a daily candle outside of the zone this week which would enable us to create a counter zone, which is always nice.
Not the prettiest chart I’ll be posting here today I’ll admit that
Rather similar to the EJ chart I posted at the beginning of this watchlist
Take care folks!