NZD/CADHello guys, today is a special day! I was thinking about backtesting a bit...
So i am going to take you throught some trades!
1st trade as you can see was pretty nice 1:5RR ratio
Simple consolidation breakout and retest, after 2,5 profit i closed halft profit
and putted sl to break even...TP got smashed and my face was full with smile
2nd trade was almost the same. Consolidation and breakout with retest and open candle right above previous candle :)
Here is 1:3 RR ratio... my favorite...IF you want to know, i always take half profit when i am 1:2 and i put sl to break even and i let it run
3rd trade was unfortunately sl.. I thought i had good support as you can see previously it was support/resistance only 12 pip stop loss...
Lesson learned and loss took like normal thing
Next you can see i draw a circle of (support) it would be good support for someone, and it would be 30 pip gain, but i just dont like,
When i dont have previous support shown.. as you can see i had only consolidation before so i didnt took this trade
4th trade was based right on the previous sl trade which was acting as support :)
Again simple 1:2 RR trade with TP smashed... now that invalid support acted as support for me and it was real support now :)
5th trade is kinda hard to understand, but i take you through it ;)(my pleasure)
As you can see, we had a little consolidation and the trade was coming, because i was expecting breakout....
I didnt took the trade on the start of that huge red candle.. i just rather wait for red/green(in this position red) closing candle
right below or above the previous candle as you can see :) Candles reacted to the marked support of the huge red candle now as resistance
I took the trade with 1:2 RR ratio and TP was smashed :)
I hope this was helpfull! it took me ages to write this essay, i hope you learned something new ;)
