Weekly Trading Recaps: XLMUSD, NZDUSD, BTCUSD, SUGAR Jan 09 2021
Hello everyone:
Back here with another weekly trade recap video. This week I did enter 2 more positions, and still holding 2 trades from last week. Let's take a look:
XLMUSD (Stellar) - Once price impulsively breaks above the HTF flag structure, I looked for LTF continuation correction to get in.
I was fine with a bigger SL due to the nature of crypto, and fine holding through it for a long term approach.
NZDUSD - Entered with a stop entry order, and then price eventually tagged me out for a full loss before resuming the downtrend as I forecasted.
Looking back at the trade, I was fine with the entry, and saw a completion of a LTF correction.
Even though price reversed a bit and tagged me out, it still completes the LTF correction and eventually still moves to the downside.
Sugar - Still in this one, as I see price hits the previous swing high tops, and then formed this LTF Head and Shoulder, I knew there is a probability that the price may not continue upwards.
I am fine with a SL still at BE, as my bias on the HTF still could work out, and did not want to choke the price.
BTCUSD - Running deep into profit. Will let the trade run and adjust SL accordingly.
Looking to continue to hold as long as I don't see any trend changes or clear LTF bearish price action and reversals.
Any questions, comments or feedback please let me know :)
Thank you
Jojo
Back here with another weekly trade recap video. This week I did enter 2 more positions, and still holding 2 trades from last week. Let's take a look:
XLMUSD (Stellar) - Once price impulsively breaks above the HTF flag structure, I looked for LTF continuation correction to get in.
I was fine with a bigger SL due to the nature of crypto, and fine holding through it for a long term approach.
NZDUSD - Entered with a stop entry order, and then price eventually tagged me out for a full loss before resuming the downtrend as I forecasted.
Looking back at the trade, I was fine with the entry, and saw a completion of a LTF correction.
Even though price reversed a bit and tagged me out, it still completes the LTF correction and eventually still moves to the downside.
Sugar - Still in this one, as I see price hits the previous swing high tops, and then formed this LTF Head and Shoulder, I knew there is a probability that the price may not continue upwards.
I am fine with a SL still at BE, as my bias on the HTF still could work out, and did not want to choke the price.
BTCUSD - Running deep into profit. Will let the trade run and adjust SL accordingly.
Looking to continue to hold as long as I don't see any trend changes or clear LTF bearish price action and reversals.
Any questions, comments or feedback please let me know :)
Thank you
Jojo
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