MyJournal 22 - 26/01/2024
MyJournal 22 - 26/01/2024
WINS/LOSSES COMMENTS:
1) Tuesday, no trade
2) Wed, 61.8, great loss, offered 2nd at 78.6, but no pullback
3) Thursday, no trade
4) Fri, offered low of the week, take it
-----------------------------------------------------------------------------------------------------------------
FUNDAMENTALS:
a) DXY: CPI last week higher, expect strong dollar, (Wednesday) Waller: "Delay cuts", bullish DXY
b) BOC: (Wed) CAD weak
c) XAU: XAU strong fundamentally, Lobo Tiggre said 2024 bullish gold in all cases
d) Other:
(Monday)BOJ no change IR, JPY weak
(Thu)ECB cut earlier than FED, weak EU
USD BUY | CAD SELL | TECHNICALS:
- Last W1 chart bearish pinbar(not a good case, alert), we expect to buy to at least 1.36
- Weekly typical structure, D1 chart Monday/Tuesday sell to 1.340 - 1.335
- Weekly typical structure, D1 chart Tues/Wed expect to buy to target
- Weekly typical structure, D1 chart Thurs/Fri expect to buy to target
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback
TAKING POSITION RULES:-
(Ultra conservative)
1) Tuesday, no trade
2) Wednesday, 2nd entry after 1st failed SL
3) Thursday, 2nd entry after 1st failed SL
(Conservative)
1) Tuesday, open only 1 position of all pairs, as weekly structure unconfirm.
2) Wednesday, open 2 positions on Tuesday's losses (if we still expect the same weekly structure). This offers us tighter SL, with greater RR.
3) Thursday, if Wednesday still loss, open another 2 positions on Wed's losses (if we still expect the same weekly structure). Thus, max loss @0.25% x5 = -1.25%, if -6%, still need 5 straight week loss.
ADDITIONAL BIAS:
a) Round psychology number 50/00
b) WeeklyTypicalStructure:
-anatomy of candle, price always push to other side first before making real move
-midweek reversalrejection/continuation > BuyBuy*SellSell / SellSell*BuyBuy
c) Daily Candlestick Pattern: doji, engulfing, insidebar/railroad
d) TakeProfit TP / StopLoss SL
Depends on:
-fundamentally / what are the news saying
-liqiudity pool at Daily/Weekly/Monthly where
-averageDailyRange ADR
-catch explosive move only if direction align with weekly high low bias.
Eg. Previous day was bullish doji at daily support & it is mid of the week, do catch today explosive move to next weekly liquidity pool.
e) Entry timing recommendation
-session LONDON, NY 9-12PM GMT+8
f) Entry with discount price, use fib
WINS/LOSSES COMMENTS:
1) Tuesday, no trade
2) Wed, 61.8, great loss, offered 2nd at 78.6, but no pullback
3) Thursday, no trade
4) Fri, offered low of the week, take it
-----------------------------------------------------------------------------------------------------------------
FUNDAMENTALS:
a) DXY: CPI last week higher, expect strong dollar, (Wednesday) Waller: "Delay cuts", bullish DXY
b) BOC: (Wed) CAD weak
c) XAU: XAU strong fundamentally, Lobo Tiggre said 2024 bullish gold in all cases
d) Other:
(Monday)BOJ no change IR, JPY weak
(Thu)ECB cut earlier than FED, weak EU
USD BUY | CAD SELL | TECHNICALS:
- Last W1 chart bearish pinbar(not a good case, alert), we expect to buy to at least 1.36
- Weekly typical structure, D1 chart Monday/Tuesday sell to 1.340 - 1.335
- Weekly typical structure, D1 chart Tues/Wed expect to buy to target
- Weekly typical structure, D1 chart Thurs/Fri expect to buy to target
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback
TAKING POSITION RULES:-
(Ultra conservative)
1) Tuesday, no trade
2) Wednesday, 2nd entry after 1st failed SL
3) Thursday, 2nd entry after 1st failed SL
(Conservative)
1) Tuesday, open only 1 position of all pairs, as weekly structure unconfirm.
2) Wednesday, open 2 positions on Tuesday's losses (if we still expect the same weekly structure). This offers us tighter SL, with greater RR.
3) Thursday, if Wednesday still loss, open another 2 positions on Wed's losses (if we still expect the same weekly structure). Thus, max loss @0.25% x5 = -1.25%, if -6%, still need 5 straight week loss.
ADDITIONAL BIAS:
a) Round psychology number 50/00
b) WeeklyTypicalStructure:
-anatomy of candle, price always push to other side first before making real move
-midweek reversalrejection/continuation > BuyBuy*SellSell / SellSell*BuyBuy
c) Daily Candlestick Pattern: doji, engulfing, insidebar/railroad
d) TakeProfit TP / StopLoss SL
Depends on:
-fundamentally / what are the news saying
-liqiudity pool at Daily/Weekly/Monthly where
-averageDailyRange ADR
-catch explosive move only if direction align with weekly high low bias.
Eg. Previous day was bullish doji at daily support & it is mid of the week, do catch today explosive move to next weekly liquidity pool.
e) Entry timing recommendation
-session LONDON, NY 9-12PM GMT+8
f) Entry with discount price, use fib
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.