Took a loss today. Could have managed my risk better. Tomorrow is a new day.
Price created a high and now waiting for a support to be formed. anticipating Pre NY volume.
Trade before the news managed to get in and out before the CPI news and closed the runner 14pips before the price went down
Analysis was donebased on the Daily Tf and looking for entry in the 1Hr TF
OANDA:XAUUSD Summary Daily - bullish 4hr - was in a range. broke and closed above the range. Went to LTF to look for an entry. 1hr - was waiting for the new candle to break the previous 1hr high but it did not and formed a weak resistance. 30m - price starts ranging. Execution: 1hr - placed a buy stop above the 1hr candle anticipating the Pre NY...
OANDA:XAUUSD Overall pic - 1. Daily was bullish. 2. 4hr in a range and just reached at the top of the range. 3. 1hr- closed a strong bullish candle. 4. 15m candle closed bearish creating a resistance. 5. Entered a buy when the new 15m candle broke the prev 15m candle high anticipating for the price to break the range and continue bullish with the...
OANDA:XAUUSD 1. 1 hour candle closed bearish. 2. Resistance was created. so was looking for a sell if the new candle breaks the prev candle . W 3. Went LTF to look for a entry. 4. However, candle did not break the low. 5. Instead, a support was created in 15m. 6. Took a buy when the candle breaks the 30m high and secured 9 pips. Its not about making...
OANDA:XAUUSD 1. Price was very bullish so was looking for an entry for a quick scalp. 2. Took a buy when a support was formed in the 15m TF and broke the high in the 30m TF to test the high.
1. clean candles to the left OANDA:XAUUSD 2. price was in a range (1hr TF) 3. Took a buy when the 1hr candle broke the prev high. 4. secured 6 pips
Trade was analyzed on 1hr time frame and trade was taken based on 30m time frame. Trailed the stop loss in 5m time frame as the candle did not break the previous low. At this point, it was a risk free trade. Even if the SL stops me out I would have been in 2 pip profit. Closed the trade fully when the 5m candle broke the previous candle's low. Closed in 7 pip...
trade for the day :) Any positive feedback is welcomed