This is what I am looking for in the market for price for the 11. If this does not happen, I will wait for the market to create a new dealing range.
One thing about the market is that you have to be rigid yet flexible. Because no one can forecast the market. We trade what price is telling us, but I will only trade what I analyses at any moment to happen
Its very tuff trading only One Pair. What I do though is to have a weekly risk limited, so if I only get one trade per week I will increase the risk but maintain my loss limit.
This trade was a B trade, this was a range bound trade. Which is simply selling ceilings and buying floors.
I was a bit hesitant for this trade, because the DXY created a floor and...
We are at a crossroads with GU.
Not seeing where its time to sell. If you observe the daily it could just be a pull back to push higher.
If you look at GJ (correlated Pair) you will see that its over extended and the could retrace heavily.
If you look at the DXY support was formed as well
News Confluence as well, where the EU said the are still issues with...
This trade happen outside of the peak ours.
however once you see the volume and the setup is present do not hesitate to take the trade.
A main 4 hour structure structure level broke. The DXY was creating a support, which means that the GBP if strong would break down, and push lower in the direction of its momentum.
Text book trade as I was anticipating
This was an uncertain trade, did not take it because of the wick
Analyzing it, I see that the market wicked between the 38-61% and there was a momemtum shift
I was not so certain about it, but it played out to my liking
Once agin it confirms that you should always trade the direction of the market.
Just wait on your setups.
This trade should have been...
Took buys,
waited hours for the retracement on the 38% took two positions, the second one I entered too early, should have waited on the 61, but hindseight
Still maintain my strategy. Accepted the rish and ready for another move.
Once i follow my plan and have atleaset a 30% Hit Rate 3:1 RR I will profit.
Market is in a bull direction,
The market had strong volume to the upside
The DXY was breaking downward as well.
The market pullback to the 38% from the last swing low.
Usually when there is heavy volume the market makes minor pullback until it make the strong pullback 61-100%.
Got a shift in momentum which was our buy signal.
In a B setup like this RR would...
This is a buy, poor entry, no stratgy on this entry, I see where I have been going wrong.
My entry was off, my stratgy was no existent. evenif thi is a buy, the trade ws not great
I made the classic mistake of breaking my rules, moving my stop loss and over trading, revenge trading
I broke down mentally
I Will never NEVE Break my rules again, too much pain
Tried to short a bull market with no setup or pattern just ego.
What I should have done was jump on to a moving train.
Do not assume that the market will bend to your will instead...
GBPUSD is currently bullish, its at a swing low retracement point, we're expecting a swing high for the market to take out the previous highs and push higher, the market could further push down base on the fundamentals and whats going on in the market right now, but for now, lets wait for price action
