MyJournal 19 - 23/02/2024
MyJournal 19 - 23/02/2024 XAU
----------------------------------
WINS/LOSSES COMMENTS
----------------------------------
Summary:
.USDX W1 became bearish pinbar
.Mon-Wed sell, Thu-Fri FOMC news=USD became stronger, bullish pinbar
Position:
.XAUUSD previous W1 pinbar reject 1980, predicted current W1 to become bullish
.Prediction: Mon-Wed sell, WedThu-Fri buy
.Reality: Monday- touched 38.2 W1, and went up, Wed/Thu never come back except Friday
No entry, as RR not that great
----------------------------------
FUNDAMENTALS
----------------------------------
a) DXY -
CPI getting hotter, sentiment still rate cut delayed (bullish USD)
Technical W1>
Last> bearish pinbar
(NOW)> bearish engulf
b) Other news:
USD - (Thur) FOMC = Case1) Rate cuts delayed- USD stronger, buy
CHF - (...) No data
GBP - (...) No data
JPY - (...) No data
AUD - (...) No data
c) XAU - XAU strong fundamentally, Lobo Tiggre said 2024 bullish gold in all cases
----------------------------------
TECHNICALS
----------------------------------
a) Monthly/ W1 chart template- Bearish;
1st> bearish engulf
2nd> bearish pinbar
(NOW) 3rd> bullish engulf
4th> ?? bearish pinbar
b) D1 chart template -
Monday/Tuesday> bullish - bullish
Tues/Wed> bearish - bearish
(NOW) Wed/Thurs/Fri> bearish - bearish
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback
----------------------------------
TAKING POSITION RULES
----------------------------------
(Normal)
0.25% per position,
1) Daily/Weekly 61.8/78.6 swing, plus all conservative positions.
(Conservative)
1) Monthly 61.8/78.6
2) 2nd try after SL
3) 3rd try
4) 4th try
(Ultra conservative)
1) Monthly 61.8/78.6
2) 3rd try after SL
2) 4th try
----------------------------------
ESSENTIAL CONCEPTS
----------------------------------
a) Typical structure - Monthly: Buy Buy Sell Sell / Sell Sell Buy Buy
- Weekly: Buy Buy Sell Sell / Sell Sell Buy Buy
b) Sessions - Asian/London/New York
----------------------------------
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
-liquidity 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 Fibonacci
----------------------------------
WINS/LOSSES COMMENTS
----------------------------------
Summary:
.USDX W1 became bearish pinbar
.Mon-Wed sell, Thu-Fri FOMC news=USD became stronger, bullish pinbar
Position:
.XAUUSD previous W1 pinbar reject 1980, predicted current W1 to become bullish
.Prediction: Mon-Wed sell, WedThu-Fri buy
.Reality: Monday- touched 38.2 W1, and went up, Wed/Thu never come back except Friday
No entry, as RR not that great
----------------------------------
FUNDAMENTALS
----------------------------------
a) DXY -
CPI getting hotter, sentiment still rate cut delayed (bullish USD)
Technical W1>
Last> bearish pinbar
(NOW)> bearish engulf
b) Other news:
USD - (Thur) FOMC = Case1) Rate cuts delayed- USD stronger, buy
CHF - (...) No data
GBP - (...) No data
JPY - (...) No data
AUD - (...) No data
c) XAU - XAU strong fundamentally, Lobo Tiggre said 2024 bullish gold in all cases
----------------------------------
TECHNICALS
----------------------------------
a) Monthly/ W1 chart template- Bearish;
1st> bearish engulf
2nd> bearish pinbar
(NOW) 3rd> bullish engulf
4th> ?? bearish pinbar
b) D1 chart template -
Monday/Tuesday> bullish - bullish
Tues/Wed> bearish - bearish
(NOW) Wed/Thurs/Fri> bearish - bearish
*check DXY chart to confirm the thesis, 15M chart- Execute, Breakout/Pullback
----------------------------------
TAKING POSITION RULES
----------------------------------
(Normal)
0.25% per position,
1) Daily/Weekly 61.8/78.6 swing, plus all conservative positions.
(Conservative)
1) Monthly 61.8/78.6
2) 2nd try after SL
3) 3rd try
4) 4th try
(Ultra conservative)
1) Monthly 61.8/78.6
2) 3rd try after SL
2) 4th try
----------------------------------
ESSENTIAL CONCEPTS
----------------------------------
a) Typical structure - Monthly: Buy Buy Sell Sell / Sell Sell Buy Buy
- Weekly: Buy Buy Sell Sell / Sell Sell Buy Buy
b) Sessions - Asian/London/New York
----------------------------------
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
-liquidity 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 Fibonacci
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.