Weekly Trade Recap: AUDCHF, AUDJPY, SUGAR, BTCUSD Jan 30 2021
Hello everyone:
Welcome back to another quick weekly trade recap video :)
This week I took 2 additional trades, and closed down 3 positions. Lets take a look
AUDCHF - Closed for 2% profit. Profit broke down from the correction, I first moved the SL to BE then in profit.
As LTF formed that descending channel reversal, I moved my SL to 2:1 profit and eventually tagged me out.
AUDJPY - Closed for 1% profit. Similar approach and management like AUDCHF. Price broke below the correction it created, first moved my SL to BE and then to 1:1 profit.
Eventually prices reverse up after failing to break below the HTF structure.
SUGAR - Closed for 2% profit. My original plan was to hold the trade for longer term, but as price is getting into this deeper correction, I don't tend to want to give back all the profit back to the market.
LTF formed a H and S pattern within the correction, and I moved up my SL to 2:1 profit.
Even though I am tagged out of this position, I still hold a strong bullish bias that price can continue, but did not want to get stuck in the consolidation phase.
BTCUSD - Still holding, currently 4% profit. Price may be completing this HTF continuation flag structure, and we can potentially see more upside.
Any questions, comments or feedback please let me know :)
Enjoy your weekend :)
Jojo
Welcome back to another quick weekly trade recap video :)
This week I took 2 additional trades, and closed down 3 positions. Lets take a look
AUDCHF - Closed for 2% profit. Profit broke down from the correction, I first moved the SL to BE then in profit.
As LTF formed that descending channel reversal, I moved my SL to 2:1 profit and eventually tagged me out.
AUDJPY - Closed for 1% profit. Similar approach and management like AUDCHF. Price broke below the correction it created, first moved my SL to BE and then to 1:1 profit.
Eventually prices reverse up after failing to break below the HTF structure.
SUGAR - Closed for 2% profit. My original plan was to hold the trade for longer term, but as price is getting into this deeper correction, I don't tend to want to give back all the profit back to the market.
LTF formed a H and S pattern within the correction, and I moved up my SL to 2:1 profit.
Even though I am tagged out of this position, I still hold a strong bullish bias that price can continue, but did not want to get stuck in the consolidation phase.
BTCUSD - Still holding, currently 4% profit. Price may be completing this HTF continuation flag structure, and we can potentially see more upside.
Any questions, comments or feedback please let me know :)
Enjoy your weekend :)
Jojo
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