themabtrader

Tuesday 22 October 2019

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End of Day Review

-1.08R

3 trades taken. 1 break even, 2 losers, 0 winners.

11:24

M1 1min MAB | Sell | +0.04R

As price moved down from a high, I saw the potential for a 5min or 15min MAB, and anticipated price moving down to those levels with a micro-1min MAB.

This didn’t quite work out, but I covered my risk by moving my stop loss to break even when price was near the 5min ema.

09:51

M1 15min MAB | Sell | -0.45R

I had seen this setting up on the M15 timeframe, and liked the look of it. I entered the trade on the back of the idea that price would test the H1 and D1 EQZ midlines, as in my last trade.

This was a mistake, as I moved my profit target looking for a strong downward move. Had I left it alone, I might well have come out of this trade with the 2R target that is in my plan!

09:38

M1 1min MAB | Sell | -0.67R

I thought we might have seen the price test H1 and D1 EQZ midlines again before moving up, and was looking for a quick in and out trade.

There was some role-reversal structure, and the 1min ema in play, however you could consider point B of the setup as the second shoulder of an inverse head and shoulders, and this should have been enough to put me off taking the trade.

Monday 21 October 2019

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Tue 22 Oct >>

End of Day Review

+3.72R

2 trades taken. 0 break even, 0 losers, 2 winners.

A good day’s trading. The early morning Bullish move, ending at 08:45 set the trend for the day, and gave excellent role-reversal structure for the two trades taken.

I’m pleased with my trade managementwith both trades, cutting the trade short on the first, and raising the profit target on the second to make the most out of each move. A better entry for the first trade could have seen another ~1R in profits, however that is being picky and the speed of price movement doesn’t always allow for such accurate entry.

15:06

M1 15min MAB | Buy | +2.56R

A good move on the M15 timeframe, with clear Role-Reversal structure confluent with the GZ.

I took the trade on the M1 timeframe, using the same keyzone structure as I had used for my trade earlier today. The combination of this level, along with the 15min ema and GZ was too good an opportunity to pass up! I placed my profit target below the Inner-Fib for the higher-timeframe move, looking for +2.5R, also within another keyzone drawn from previous price action. As price reached the 1min and 5min moving averages, I moved my Stop Loss to break even as a precaution; I was expecting price to stall for a time at this level, but was confident it would break through and at least reach the Inner-Fib 50%.

13:15

M1 1min MAB | Buy | +1.16R

I would have liked a better entry, with the 2R target at the top of the keyzone.

I watched patiently as the Role-Reversal level held, and took profits as price reached my target. I was tempted to allow my time for price to push above the keyzone boundary, as the 2R profit target was sitting within the Inner-Fib GZ, however I felt the better thing to do was to take profits. At the moment this seems to have been the right choice, as price is back at the bottom of the keyzone (13:35).

Mon 19 Aug 19

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13:28

M1 5min MAB | Buy | +0.06R

Moved my SL to cover losses as price danced around just above the 5min ema. I SHOULD have left the SL alone, as my trading plan stipulates, however I am adjusting to using a live account, and know I will get over these emotions with time.

I am happy that I waited for the 5min MAB to occur, and that I took my chance when it arose.

11:32

M1 1min MABs | Buy

Tue 13 Aug 19

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00:00

09:31

M1 FibCon | Buy

08:50

M1 1min MAB | Sell

08:32

M1 5min MAB | Sell | +0.03R

My first trade on a live account!

I chickened out when price was hovering just above the Open and the H1 EQZ at 11644.04, as I didn’t like the way that price had moved above the 61.8 Fib level just after opening the trade, and felt that those levels could act as support.

Price came very close to what have been my Stop Loss not long after, and there was a chance it could have triggered, so I’m glad that I moved my Stop and broke even before this, however if I had held onto the trade there was a chance that I’d have been lucky and hit my +2R target.

Mon 12 Aug 19

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11:00

M1 FibCon | Sell

I passed on this trade due to the closeness to the D1 EQZ boundary, and the possible MAB with the 5min ema coming down from above.

10:39

M1 FibCons & MABs

A selection of FibCons and MABs from this morning’s price action.

I chose to pass on the 5min MAB at 10:39 as I didn’t want to sell back down into the D1 EQZ boundary.

Wed 15 May 19

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Thu 16 May >>

00:00

10:15

UPDATE: M1 15min MAB | Sell

I was presented with a second chance at taking this trade, however price had already acted as predicted, moving down from point C to the H1 EQZ midline and D1 Bear Channel, which supported price, moving back up to the D1 EQZ and Yes. Close.

I felt there was a good chance that price could push up further, to the Open, the Daily Hi-Lo GZ 61.8 level and the 4hour ema, so I did not take the sell trade.

09:53

M1 15min MAB | Sell

I was waiting for a move closer to the D1 EQZ, around where the ‘C’ marker is placed. The 15min ema was higher and closer to the D1 EQZ at the moves’ peak, and I was waiting for a touch of the 15min ema before entering the trade.

I was being quite picky on my entry, as I had doubts about the trade and wanted to get the best value I felt was available. I would be trading back down into the D1 Bull Channel and H1 EQZ midline, which carried risk. Also, my Stop Loss was sitting below the Open, which would be seen as a target for price, and below the higher timeframe Daily Hi-Lo GZ 61.8 level.