MyJournal 01 - 05/01/2024
LOSSES COMMENTS:
- Fear of missing out. FOMO
- Correction: Friday not FOMC, but NFP
-----------------------------------------------------------------------------------------------------------------
FUNDAMENTALS:
a) DXY: FED rate pause, sentiment continue, 2024 FED expected to cut, bearish USD
b) XAU: XAU strong fundamentally, Lobo Tiggre said 2024 bullish gold in all cases
c) Other:
-This week has nothing to offer, I would like to wait until FOMC come out & take trades for next week.
-Powell said dovish tone, expect DXY to SELL next week.
(WEAK BIAS) USD SELL | XAU BUY, XAUUSD BULL/BEARISH TECHNICALS:
- Last W1 chart bullish, but pinbar, but we expect to sell, as it is beginning of the month, expect bearish at least to 2020-2015
- Weekly typical structure, D1 chart Monday/Tuesday bull to 2070.0 – 2075 before peak & turn
- Weekly typical structure, D1 chart Tues/Wed expect to bear to target
- Weekly typical structure, D1 chart Thurs/Fri expect to bear to target
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback
TAKING POSITION RULES:-
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
- Fear of missing out. FOMO
- Correction: Friday not FOMC, but NFP
-----------------------------------------------------------------------------------------------------------------
FUNDAMENTALS:
a) DXY: FED rate pause, sentiment continue, 2024 FED expected to cut, bearish USD
b) XAU: XAU strong fundamentally, Lobo Tiggre said 2024 bullish gold in all cases
c) Other:
-This week has nothing to offer, I would like to wait until FOMC come out & take trades for next week.
-Powell said dovish tone, expect DXY to SELL next week.
(WEAK BIAS) USD SELL | XAU BUY, XAUUSD BULL/BEARISH TECHNICALS:
- Last W1 chart bullish, but pinbar, but we expect to sell, as it is beginning of the month, expect bearish at least to 2020-2015
- Weekly typical structure, D1 chart Monday/Tuesday bull to 2070.0 – 2075 before peak & turn
- Weekly typical structure, D1 chart Tues/Wed expect to bear to target
- Weekly typical structure, D1 chart Thurs/Fri expect to bear to target
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback
TAKING POSITION RULES:-
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.