Hello Traders,
I trust you're doing alright.
As students of the market, we see that AUDUSD has clearly told us that it has not yet made up its mind to become bullish. It made this very clear last week when it rejected the previous resistance and has continued to dive downwards.
Now, the call to action is to wait for some retracements and follow it downwards. Hopefully, we are able to get some pip rewards along the way.
Kindly note that this is of course not financial advice.
Warm regards,
D
I trust you're doing alright.
As students of the market, we see that AUDUSD has clearly told us that it has not yet made up its mind to become bullish. It made this very clear last week when it rejected the previous resistance and has continued to dive downwards.
Now, the call to action is to wait for some retracements and follow it downwards. Hopefully, we are able to get some pip rewards along the way.
Kindly note that this is of course not financial advice.
Warm regards,
D
Note
As I said, I'll be looking for only sells in 15mins time frame.The first opportunity has presented itself.
Bearish till proven otherwise.
#NFA
Trade closed: target reached
Price at Demand.Done for now.
Note
I usually wait for a trendline breakout or a bearish candle formation at my POI before executing trades. This approach often results in smaller rewards-to-risk ratios. However, I believe I prefer a better win ratio with smaller rewards-to-risk over a higher reward-to-risk with a lower win rate. The latter doesn't suit my trading psychology.Note
Closed the above trade at -0.5R.Took the breakout trade. I wasn't supposed to though because I'm still bearish on the 4H timeframe. The loss was a good one. Now, I'm reminded that being bearish on 4H means I only take sell opportunities on 15min
Trade active
Took another sell trade. Met all my criteria. Add added confluence was the Swing Failure Pattern (SFP).Already feeling good about this one.
Note
Took another Loss on AUDUSD. The loss is proper. It's the confirmation that the short-term bearish trend has ended.Now, I'll be looking for bullish trades
Note
This is my first bullish trade. I really do not want to pursue the trade. So, I've set a limit order. Price may most likely not get to my entry. But, it's okay.I'll refine my entries better next time.
Note
Trading Conditions.1. One Pair - AUDUSD
2. One Timeframe - 15 min
3. Reason for Entry: Breakout/ Fakeout. Price reclaimed previous support with a bullish candle. Therefore, I expect the price to continue to the previous resistance.
4. Invalidation: Price breaks below support.
5. Risk: 0.75%
6. Reward: 2.25%
Note
Price seems to be moving without tagging meThis is the reason why I sometimes do not like to wait for retracements. Especially when the breakout is with momentum.
Note
TaggedNote
Oops. Took another Loss again today. Not a needed one though.So, my resolve going forwards is simple. I no more trade reversals.
I look for trade that is in the direction of my 4H bias.
Note
Perfect
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.