themabtrader

Mon 15 Oct 2018

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Tues 16 Oct >>

16:52

M1 5min MAB + H1 Channel midpoint | Buy | -1.02R

Another loss, but this is another trade I think I’d take again. I passed on the earlier 1min MAB and waited to price to retrace to the 5min ema, confluent with a keyzone and the Hourly Bear Channel midline.

I was anticipating a move back up towards the H1 EQZ border at 11644, with the 4hour ema and Daily Bull Channel in confluence.

Ideally, I should have placed my stop below the top of the M5 EQZ border, and not left it hanging in white space. At the time, my thinking was that this was a very wide stop gap, and it would reduce my profits with a profit target at the High.

10:59

M1 1min MAB + keyzone | Buy | +1.19R

It’s nice to see a bit of green in the Trade Controller!

A good set up after an impulsive bullish move to create a new high. Price retraced to a keyzone drawn from late Friday/ early this morning’s price action, which was confluent with the 61.8 GZ level.

I had my TP level just below the Hourly Bull Channel + 5min EQZ, but took profits manually just below the Open.

10:15

M1 RESCON + 1hour ema | Sell | -1.00R

Finally a trade I can look back on and say that I would take it again!

An area of good RESCON, with the Hourly Bear Channel, Hourly EQZ and the 61.8 level of the Hi-Lo GZ.

09:29

09:52

M1 | Sell | -1.04R

M1 | Sell | -1.01R

I want to use the excuse that these couple of trades were just practise shots to find my aim, after some time away from the charts. In reality, they were bad trades, minnows, would not take again.

I should have been patient and planned out the move up towards the 1hour ema.

08:51

M1 GZ + 5min EQZ | Sell | -1.03R

Price eventually made it’s way through where my TP was placed, just inside the bottom of the 5min EQZ, but not before pushing up to the Daily Bull Mid first, taking me out of the trade.

Mon 01 Oct 2018

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13:22

M1 5min MAB | Sell | -0.99R

This trade was an emotional reaction to losing 1R on the previous trade. I would not take this trade again, as the keyzone had proven to be good support, and most probably would not have taken the trade had I not just had a loser.

13:03

M1 5min MAB | Sell | -1.00R

I needed a bit more patience with trade, which would have given me a better value entry. I only extended the GZ after I had taken the trade. In hindsight, I should have used it to better position my stop loss.

11:47

M1 5min MAB | Sell | +2.00R

The 1min MAB looked tempting, but this time I listened to the voice in my head telling me to watch out for the higher timeframe structure. I decided to prepare for the 5min MAB, expecting the 4H ema to draw price towards it.

The first thing I did was pull my profit target down to just above the 1H ema + 5min bear channel, at the bottom of the screenshot. As price hesitated  at the keyzone, I manually closed the trade for +2R. Recently I have got greedy and missed out on 2R, looking for more and I did not want to make that mistake again.

11:13

11:19

M1 | Sell | -0.76

M1 | Sell | -1.11

Two bad trades, attempting to trade a 4H MAB.

Thurs 13 Sept 2018

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Mon 17 Sept >>

15:59

M1 1hour MAB | Buy | -2.03R

I ended up unintentionally in two trades here, looking for the hourly MAB, confluent with Yes. High and the Low-High GZ. This needed a slightly wider stop, something I find myself saying quite often, I should have learned by now.

15:01

M1 failed MAB | Sell | -1.10R

13:40

M5 15min MAB | Buy | -1.10R

Looking for the bounce off the 15min moving average, a bit unlucky, needed a wider stop.

11:28

M1 1min + 5min MAB | Buy

I missed this one, as I was writing up my last trades, and making a cup of tea. Stupid really, but perhaps I needed to stop anyway, after the 3 losses.

10:39

10:50

M1 MAB | Sell | -0.12R

M1 failed MAB | Sell | -1.11R

The blue line shows where I had my TP for both trades. The 15min MA was below the bear channel.

For the first trade, I should not have been so greedy, and taken 2R profits just above the M5 EQZ. For the second trade, I doubled down on the belief that price would push down to meet the 15min MA at the M5 EQZ midline. I think this was because I was annoyed that I had missed the earlier trade and wanted to make back the profits I could have had.

10:29

M1 MAB | Sell

I’m annoyed at myself for missing this one, as I was sat waiting patiently with fingers at the ready. I was waiting for a literal touch of the 1min moving average, which never came, and then I hesitated just hoping that it would push those few pips higher. A bad decision.

You can see I’ve also just taken another trade at the Daily bear channel midline.

09:51

M1 failed MAB | Sell | -1.00R

The biggest mistake here was probably taking a sell trade when only 30 minutes ago I predicted a bullish trend for the day, followed closely by knowingly ignoring the 5min MAB.

I was anticipating a move down towards Yes. High, where there were signs of confluence between the Low-High GZ, the 15min and 1hour moving averages. I believed the daily bull channel and 5min bear channel would be sufficient resistance.

09:20

H4

It looks like it’s going to be a bullish day with price moving up toward the golden zone, and a possible Daily/Monthly MAB setting up. Is it going to break through PM Low and the Daily EQZ midline?

August 2018

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August 2018

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Thursday 16th

13:34

M1 failed FibCon | Buy | -0.99R

13:19

M1 | Sell

10:06

M1 15min MAB (failed 1min MAB) | Sell | -1.00R

A bit unlucky again here, but really I should have tried a few different positionings of the fib tool before settling on an entry point. A fib tool drawn from the underside of the 5min EQZ to the bottom of the move results in a 61% level that favours the 5 or 15min MAB with a later entry and a chance to give more breathing room between the hourly bull channel and the stop.

Wednesday 15th

12:10, 13:09, 14:39, 14:57

M1 | Sell

A selection of potential trades. Unfortunately most of the chart structure is missing as this was taken after the event.

11:35

M1 FibCon | Sell

Wednesday 8th

22:00

M1 | Sell

Checking how the charts looked at the end of that day, and perhaps my last trade wasn’t quite as bad as I had previously thought.

Had I taken into consideration the position of the four higher timeframe MA’s, I could have waited for a better entry at the top of the 5min EQZ. With a fib tool drawn between two 5min EQZs – spanning almost the whole bearish move after a daily high – price reached spot on the 61 fib level before turning around. 

15:49

M1 15min MAB | Sell

I let emotion get the better of me with this trade.

Frustrated that I had missed the good set-up earlier, I tried to make this work even though the signs were telling me to leave it alone! I was looking for a 15min MAB, which was just above my entry level. At this point, however, price was looking bearish with an impulsive move up through the 61 fib level, and my stop was left floating around between and below higher timeframe moving averages. A bad trade all around.

14:10

M1 5min MAB | Sell

I think this was probably the clearest and best potential trade that has presented itself today so far. Clear impulsive move through yesterday’s close and the open, a retrace to the underside of those levels, with all but the 1min MA coming down to provide resistance.

With a tight stop, I think +7-10R was possible holding the trade down to the daily EQZ (12577.5), which is believe is a target.

If I had taken this trade, I think I would have taken profits just above the hourly bull channel.

09:48

M1 1min MAB | Sell

Tuesday 7th

16:22

M1 Low-High GZ | Buy | +0.15R

Not the best of screenshots for this trade. I am writing this at 22:25, though the trade took place at 16:22. I had to go out at 16:45, so wasn’t at my computer to monitor this trade and I ended up closing it remotely through the MetaTrader app, which was a first for me!

My stop for this trade was well positioned (or maybe I was just very lucky) and I feel that had this trade happened earlier in the day, I would have brought in the +2R I was looking for.

Price found resistance at the bottom of the GZ (which you can see more clearly in my previous screenshot at 16:08), and a confluence of four MA’s began to send price in the opposite direction. As the day was coming to a close, however, momentum was lost and price ranged around the daily bull midline, and between the moving averages.

Had I been at my computer for the duration of this trade, I would like to think I would have closed at a better time and had a marginally bigger profit, but it would not have been by much.

 

Today has been a big boost for me, as I finished with a +3.08R profit and strike rate of 75% and felt that I was in tune with the movement of price throughout the day. If I had been a bit luckier with the trade at 15:30 this could have been even better!

This is nothing groundbreaking, but my best day in a while, and coming off the back of some time off trading, it feels good! Noticing the potential for the low-high GZ trade early enough was key, as I was able to trade the price down into the GZ and profit from the movement, even if the actual low-high GZ trade itself wasn’t a success.

16:08

M1 1min MAB | Sell | +2.00R

Following the trend down towards and into the low-high GZ.

Point B from the previous trade gave a good level of resistance and was almost perfectly confluent with the 61 fib level.

You can see here that I’m currently in another trade with my entry at the daily bull channel midpoint and hourly MA. I’m not sure if I have given the trade enough space to play out with my stop. I’m tempted to pull my TP up to at least just underneath the hourly EQZ (12701.8), but as it’s the end of the day I’d rather ‘bank’ profits earlier if it reaches the +2R level.

15:30

M1 5min MAB | Sell | -1.07R

A big part of the reason I took this trade was that I had convinced myself price was going to fall towards the 1hour MA and low-high GZ.

I feel that I was unlucky with my stop on this one. I did have the space to give the trade more room with a slightly wider stop that would have prevented this.

15:10

Low-High GZ 15min MAB set-up

Low-High GZ 15min (edit: 1hour) MAB forming? Entry at the daily bull channel midpoint.

09:42

M1 1min MAB | Buy | +2.00R

The set-up for this trade wasn’t as clear cut as the previous, but price seemed to be interacting well with the 1min MA and after breaking through resistance at yesterday’s high I felt it could act as a good support level on the retrace. I intially hesistated and waited for the 1min MA to come up and meet price. I could have, and should have, got a slightly better entry to squeeze another 0.5-1R out of the trade, but I’m happy with the +2R.

09:22

M1 1min MAB | Buy

I missed this one but really should not have. A nice set-up with the impulsive move coming off the bottom of a 5min EQZ (12685.7), up through the top of the 5min EQZ (12701.4) and an hourly EQZ border (12701.8) that was previously resistance. Price retraced back into the GZ, confluent with the hourly EQZ, 5min EQZ, bear channel and the 1min MA.

Monday 6th

12:35

M5 5min MAB | Buy | -1.05R

My first trade after a couple of weeks break from trading. I placed the stop below the weekly, daily and 4hour MAs, feeling they would provide support along with the 5min MA.

The better trade was one with the entry at point A, as Phill documented in today’s DAX commentary.